Lotto windfall: I'd keep it quiet
Despite rarely buying tickets, I long ago sussed what I would do if I won Lotto.
My plan was helped by an acquaintance's parents who won big - about $5 million I think - and handled it sensibly. They won in British Columbia, Canada and at the time all lottery winners there were published.
They got a voice message service, gave each of their three kids $100,000 to use/splurge as they liked and gave themselves $200,000 each for the same. They then took off on a six-month trip to Europe without letting anyone other than their immediate family know.
They paid off their mortgage and other debts and then let the balance of the money gather interest in a fixed-term deposit while they were gone. By the time they got back they had earned a good chunk of interest, they'd had a chance to better plan what they would do and invest in, and most of the people who had emerged from the woodwork had faded off. They could go through the list of requests at leisure and be philanthropic in a more targeted way.
I figure I'd do the same: Gift small amounts to family and myself, pay off my mortgage and debts, and go on a cruise.
My job is fairly technical and committed for up to three months so I would feel some responsibility to do a decent handover, but would be able to contribute remotely by email and Skype.
I would prefer my win to remain anonymous if that was an option.
So yeah, I think I could handle it, now I just need that winning ticket!
View all contributions