Dollar and a Dream!

We all dream about winning the lottery. For most of us, winning $586 million dollars is a life changer (unless of course you are Bill Gates).  Sure, winning comes with a whole slew of new problems like the cousin calling from Idaho you never knew you had or friends who were never really your friends are now your best friends. But I will take it. Bring it on. Haven’t we all played the game? What is the first thing you would do if you won? I have to assume most people would retire and do what they love most. I know I would buy the house in the Hamptons I have been dreaming about for years.

My husband would buy the penis extension car that I hate – the RED Ferrari. Why red??? (so not a fan). We would give to charities and hire someone to take care of our money so we do not become the couple on 60 minutes who won $586 million dollars and lost it all. Really hard to lose that much money I have to believe, even if it is $316 million dollars after taxes. Which is the number if the winner chooses to take the lump sum cash option, instead of payments over 30 years. $500 million feels like the same thing as $300 million. I know it’s not, but basically IT IS. What are your chances of winning? By Tuesday’s drawing, lottery players will have bought enough tickets to cover 65 percent to 75 percent of the possible number combinations to become the mega million winner.  However, if no one picks the exact combination of numbers the prize will keep growing until the next drawing on Friday.

 

BUT if you wake up Wednesday as the winner there are few things that you MUST know:

1) The ticket has to be signed or it can be claimed by someone else. My advice is to sign your tickets NOW. Can you imagine if you left it on your kitchen island and your babysitter swiped it and signed the back? It would be hers to claim and you would be out of a sitter and a lot of money!

2) Try to stay anonymous. Chances are you, you can’t. Only in a one or two states like South Carolina allow your identity to be hidden. I would lay low as long as possible. Every state has different rules for the length of time you have until you claim your winnings. For example, in New Jersey “All persons holding winning tickets must file for a prize within one year after the date of the drawing.” I am not saying hideout for a year but I would definitely get all my ducks in a row before I had to make any kind of announcement.

3) Plan a vacation, STAT! When you have to announce you won, I would have plane tickets booked, a trip planned and a quick way out. I would not plan a trip to California. I would maybe go on a long safari to Africa? This way when you return after several weeks, most people will have forgotten you won (hopefully the media, anyway).

 

4) Give away lots of your money. I have to believe the taxes on that amount of money is outrageous. (I am terrible at numbers, go figure my father is an accountant. Dad – what are the taxes??)

So while we all are dreaming in la la land about winning, you may just be the lucky one! I hope one of you are! (Actually I hope it is me, lol) But I would be stoked to hear if one of you won! It is the 2nd largest jackpot in the history of the lottery! The biggest was $656 million shared by 3 winners in March 2012.

Drawing will be Tuesday at 11pm E.T! Maybe you will find out you won on vacation since everyone I seem to know is leaving on a plane in the next 2-5 days. Remember DO NOT LEAVE YOUR LOTTERY TICKETS AT THE HOTEL!! Last year there were $800 million unclaimed lottery prizes.

GOOD LUCK!!

What would you do with the winnings??