Winning the lottery

Since I was old enough to play the BC lottery, I’ve fantasized about winning it, but more than that, I even thought that the chance of me winning millions on my first try was doable. After I bought my first set of numbers with an Extra, I laid in bed that morning thinking about how my life would change drastically when I won it. Note the “when” and not “if”. I was exactly that naive.

I laid in bed, giggled to myself, thinking about all of the things I would do with that money, how my initial shock would be, how I would react, how I would get my winnings. I even thought about what to wear to retrieve my winnings, how to get there in secret, the words I would have to say when they talk to me about it, the photo op itself and what I would do to announce my winnings to my family. What made it even more hilarious, was that I knew I was going to win. I just had a feeling it was going to happen and I giggled in glee some more.

Obviously, I didn’t win. Otherwise, I wouldn’t have spent the last nearly twenty years going through all of the setbacks I did. Wait, perhaps I still would have, since I was so bad with my handling of money back then. I’m a lot wiser these days, but of course, a part of what I used to be still lingers on today.

So the BC Lottery Lottomax jackpot of 70 million is happening in a few hours. I bought two tickets with two Extras. I don’t know if I will win anything, but I’m not greedy. I will be happy if I won $100,000. I won’t be able to do much with it, but at the very least, I can pay off the credit card debts of my wife and I ($7,000), as well as put $50,000 aside to generate some passive income with our high interest savings account or GIC. We’re not risk takers, so those are good enough for us. With the remainder $43,000, I would take $10,000 and I would give my wife $10,000. That’s for our personal no-questions-asked stuff. With the remaining $23,000, we leave it in the monthly expenses joint account.

Of course, if we could win a bigger amount, say the $500,000 Extra, we would pretty much immediately look for another place to live. On top of that, my mom had told me about the maintenance fee increase of their leasehold from $360 to $430, which is quite ridiculous. I would probably give them $50,000 to help out their situation.

Anyway, what I really wanted to say is that since my wife and I started living together in 2016, I have at rare occasions, spoken to her about what I would do with the lottery winnings. I try not to bring it up more than twice with her, because at the end of the day, it’s more depressing than it is fun to think about, even though it is fun to think about on my own.

So this is what I would do if I won a million dollars:

  1. Set $500,000 aside to generate passive income. That should help generate roughly $9,000 per year from GIC’s or about $6,000 from a high interest savings account.
  2. Give my parents $50,000. I would most likely split that up though, because I don’t trust my dad with any amount of money. He is a prolific gambler in stocks and he’s terrible at it. So I would most likely give him $10,000 and my mom, in her own bank account, $40,000.
  3. Give my brother $100,000. Give Brandon, Christina and Andy each $20,000.
  4. Give Emily and Larissa each $10,000 towards their futures.
  5. Pay off a part of Frank’s mortgage equivalent to $150,000.
  6. Help Amber’s mom pay off her debts equivalent to $5,000.

Where does that leave us so far? $115,000 left over. With the remaining, this is what I would do further:

  1. Donate $5,000 to the Royal Canadian Legion Branch 291 in Richmond. Mind you, I could have sworn there is a second one on Blundell somewhere. If there is one, I would donate another $5,000 to that one too.
  2. Create twenty ‘care packages’ (about $300 each ($6,000 total)) to start, for the homeless around Richmond that include the following:
    – a water proof backpack that has a waist harness and extendable wheels, in also has a secret compartment for storing money,
    – one plastic water bottle, one metal insulated bottle for hot drinks,
    – $100 gift card to Old Navy,
    – $100 gift card to Shoppers,
    – $20 pre-loaded Compass card for getting around by transit.

We’ll keep the rest and probably do some upgrades to our apartment. I might use some of that as a Secret Santa to help out people around the community too.

Anyway, that’s about as far as I would go with this fantasy, if I ever won a million bucks. I’m sure things may change, since plans always change depending on the livelihoods of people. Alas, if I think any further, it would certainly wear the fun in the fantasy thin. It would become a chore to plan it further, if you know what I mean.

So with that said, whoever wins that $70 million tonight is going to be super freakin happy. Hopefully, that person or group of people will responsibly spend it and make their life a good worthwhile one. ♥


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