You don’t have to be a gambler to know that the Texas Lottery Mega Million Jackpot is now estimated at $1.6 Billion. It doesn’t matter if you gamble or not nor does it matter that the odds of winning are a mere 1 and 302, 575, 350. I think a person would probably have better luck winning an Oscar Award than winning the lottery. These odds are crazy, but people still play in the hopes that they can win.
I never play the lottery. I rarely ever buy scratch-offs, but the thought of what I could do with $1.6 billion has given me night sweats just thinking about it. I thought about how many people won the lottery and became broke within years of winning. I didn’t want to share their same fate.
So, I started to seriously consider the great things people could do if one was to win the lottery. You can’t even spend this kind of money in one lifetime. This kind of money is generational. It could set you and your family up for ages. However, this money is also considered a blessing to be used to help others. When we are blessed, we aren’t supposed to hoard our blessings. Therefore, you must be strategic. Here are a few life-changing suggestions for you in case you have the lucky numbers:
- Pay your tithes first and foremost. If you are a spiritual person, then you know that there was a higher being involved in the receipt of that blessing. The best way to pay it forward is to start by giving back to the church. Ten percent won’t put a dent in your billions. So, why not?
- Pay your student loans or your children’s if you have them. Education is a blessing, but it is so expensive. I have incurred so much debt just in student loans alone. Even though both of my daughter’s are done with college, they now have student loan debt. The very first thing I would do if I win the lottery is erase all of our student loan debts. Then I would offer to pay someone else’s. You could also go back to school and pay cash.
- Get life insurance policies for your family. If you have it already, increase yours by $250,000 each. That’s a bit extravagant for life insurance, but it’s better to have too much insurance than not enough. My current policy is only $25,000. These days funerals are expensive so I don’t want anyone to have any trouble burying us. My children will have instructions to NOT have an extravagant funeral for me, but they will be able to bury me without having to start a “Go Fund Me” Page. Make sure you have life insurance and a will instructing your loved ones on how to handle your estate.
- Get the best medical insurance you can find. In addition to costly student loans, medical expenses are right up there with them. I want to make sure that we have enough medical, dental and life insurance to protect us against any type of major bill that might affect our lives. Make sure your family is covered with medical, dental, vision, and prescription benefits.
- Donate to our homeless. Please don’t believe that all homeless people are lazy, addicted to drugs, or crazy. You never know someone’s story, but be willing to help them anyway. It’s not our job to judge. We are here to be of service. What better way to help than to use your newfound wealth with the less fortunate!
- Get involved with politics. Almost every single amenity that we enjoy in life is regulated in some way by the government. Most people don’t get involved with politics because they don’t understand. One thing that the rich know that we don’t is that you have to be involved in the process to remain rich. Now that you have millions, you might want to protect that money. The best way to do that is to get involved in politics. Donate to your state and local campaigns of your respective political party. Sit back watch how you now have influence in your every day life.
- Start a business. Leave a legacy for your kids and their kids. Ponch Cosmetics is my baby. If I had a million dollars I would infuse that money in my business so that I can finally be able to compete with ninja brands like Revlon, MAC, Stila, Avon, Loreal, and Mary Kay. A $1 million cash infusion could easily take my business to the next level. This could set my children up in more ways that just playing with the lottery.
- Finally, take one year off and travel around the world. They say travel is the best teacher. I must agree. The best way to learn about people and other societies is to just go and immerse yourself in their culture. Then just explore this huge world and absorb all you can from it. You will then gain the best education about life.
To win the lottery doesn’t just mean that its a blank check to just go ham with a lot of money. The true blessing is in your ability to give back and do more. Don’t think it’s a chance to just buy cars, clothes, jewelry and things that don’t mean anything. This is your chance to give and do like you’ve never done before and watch how your blessing will keep going for another 30 generations.
Have you ever won a lump sum before? Tell us how you would spend your billions if you won the lottery.