Every now and then my wife and I like to talk about what we would do if we came into a log of money. We talk about whether we would even tell our extended family that we had won. I don’t know if any of them would be aware of the good fortune if we did not tell them about it, so we haven’t decided on a yes or no answer. We agreed that it would probably depend on the amount of money, and on the circumstances of receiving the money.
For example, a winning scratch ticket, if the amount was really large, might result in a news story in the media, and that might be difficult to keep quiet! But then again, I don’t think anyone in the family pays any attention to that kind of news, so maybe they’d never know if we told them! We talked about whether we would change our telephone number to a non-published number, and we agreed that would probably be a smart thing to do. Then we would probably set up a few trust funds for our kids, to make sure that they would be taken care of the rest of their lives.
Then we’d probably purchase an annuity where we would be able to get payments immediately every month to survive on. We’d definitely either pay off our house or sell it and move to one we like better. That would depend on where our kids were living at the time, as we’d like to stay close to them if possible! We’d make sure that all of of credit cards and bills were paid off, then we’d fly down to the islands and try to find a Island Properties Bahamas ocean view cottage to spend our winter months in the years to come.