| | Getty said "| | leapyear said "My 20 dollar super pack every week. You can't win if you don't play... I have plans
Anything less than 100,000 will just pay debt for my family
100000 - all to investments
1000000 - house paid off, rest to investments
5 million - share with family, invest, donate, new car, maybe a new house!
5 million plus - hire a lawyer and put my mom and dad in charge. For real " |
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Remember now... Once you win.. You pay taxes on those numbers!! " |
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Actually no. If you win the lottery in Canada, you don't have to pay taxes on your winnings. This is the same for legal settlements or inheritance. But, that being said, you do have to pay taxes on the interest you gain from your winnings. So if you win $1, 000, 000 you don't pay taxes on that but if it collects $1,000 in interest a month, you do have to pay on that.
This is the same for child support payments. Your child support is based on your earnings not winnings or inheritance.
(According to my lawyer)
So, that being said, if I wont it big, I wouldn't have o pay anything towards the child which has been genetically proven (By 3 different tests) to not be mine.
With a $5 Mil. win I would pay off any out standing debts that my parents, brother, sister and brother in law have. Then I would pay off my mortgage and my car, and get into house flipping. Buy houses and fix them up and sell them. I would also donate some money to Habitat for Humanity, Parkinson's Research and other various charities. Then, if anything is left, take my family on a small vacation.
:-)
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