If I won the lottery, and the jackpot was at $40 million, the government would take about 40% of it in taxes before they calculated how much money I would receive. THat would leave about $24 million, to be given to me over the next 40 years. That’s about $600,000 a year, and it must last until the next check comes. Of course, with a budget of over a thousand dollars a day, I would probably be able to keep from overspending.
The first debt I would pay is the $20,000 that my parents owe the government. Then I would give them another $10,000 to invest in their business. After that, I would merely live as I have been, keeping a savings account or two to draw from once in a while.
