What would you do if you won $150,000 in a lottery?

[GirlySports]

What the point of winning 66k when you just won 150k?

Id buy a private box at the dome and treat my friends

[jayswin]

Aren't private boxes like $250k per year and sold out?

[Canehdianman]

Originally Posted by Arya Stark

No, not at all. Nobody but one poster who brought the "risk-free' out of thin air is saying that no risk is what is required.

The OP didn't ask for risk-free advice. And besides paying off part of your mortgage is not risk free.

In my situation I would not pay it off. If my dad won I'm sure his mortgage would be the first place he'd put it since he has a lot of investments and a nice retirement fund from work. Everyone is in a different situation.

Hardly out of thin air. Putting the money onto the mortgage is a 3% return risk-free. You could probably average more in equities over a 30 year period, but it isn't risk-free.

[V]

I have a sweet pension, and other investments, but I don't have any cash flow. I'd totally put it all on my mortgage to alleviate the cash flow problem. I would also donate a chunk of it. Funny how that comes up so seldom here.

[Yanda]

1. I would take a chunk out of my mortgage up to the limit for this year.
2. Plan a med-budget trip to vegas.
3. Buy my parents a new couch
4. Buy 1st bed for nephew
5. Get Flames seasons tickets

[edn88]

Max out RRSP, RESPs first, bunch on MTG, play with tax refund from RRSP (trip, house reno)

[ranchlandsselling]

Originally Posted by V

I have a sweet pension, and other investments, but I don't have any cash flow. I'd totally put it all on my mortgage to alleviate the cash flow problem. I would also donate a chunk of it. Funny how that comes up so seldom here.

Retired or semi?

[ranchlandsselling]

Originally Posted by Canehdianman

Hardly out of thin air. Putting the money onto the mortgage is a 3% return risk-free. You could probably average more in equities over a 30 year period, but it isn't risk-free.

It was completely out of thin air - at no point did anyone suggest anything was risk free.

[AcGold]

Go to Thailand and relax. I've been working for years and haven't much of a break if any so some sun and sand would be heaven.

[Tiger]

with the debate of paying off the mortgage or investing. The smart thing to do is pay off the mortgage and then borrow that same amount you paid off to invest to make the investment tax deductible.

[GirlySports]

Originally Posted by flameswin

Aren't private boxes like $250k per year and sold out?

Are they? can't even get one for one game?

[trackercowe]

Originally Posted by GirlySports

Are they? can't even get one for one game?

No, there isn't a single one available to rent in all of Tusc... I mean Calgary.

[t0rrent98]

Being the good son that I am... :P I'd give some to my parent's so they can retire a couple years earlier. I'd keep about 75k for myself and whatever is left over I may or may not give it to my sister... haha.

[CalgaryFan1988]

double post.

[CalgaryFan1988]

Originally Posted by Slava

I am a financial advisor, CFP and working on my CFA. I would tell you that it does depend on your exact situation, but if the point is long term wealth creation, I wouldn't put it on the mortgage. I would invest it for sure, and almost surely over the long term not lose any sleep to beat that 3% mortgage savings as an alternative.

My financial advisor told me to pay off mortgage and continue putting money into investments weekly, with the money that would have went on the mortgage. But like you said, every situation is different (my rate was 4% fwiw).

[GioforPM]

No mortgage or other debts, and pretty decent income. Kids are set up. So this is either fun money for a huge trip or a high risk/reward investment.

[V]

Originally Posted by ranchlandsselling

Retired or semi?

20 years away.

[undercoverbrother]

Timely, thread.


A hockey dad in Sylvan (sadly I don't know him) won $1.3 million a week ago while hitting the casino between his boy's games.

[Reaper]

Oil Futures. Buy now and plan on sitting on them for a while. When the price of oil goes down it will go back up. Until we find a cheaper widely available and utilized source (or means of generation) of energy it is a low risk investment.

[MoneyGuy]

It's impossible to give good advice on the OP's question with so little information. What are YOUR incomes (not family income)? Risk tolerance? Time horizon? What do you have in investments now and what kind of plans are they? What about an employer pension plan? Are you insured for death, disability or illness? What is your experience with investing? What did you do in the market crash of 2008-09?

There are many other questions and a good advisor would turn the OP's questions into at least an hour-long discussion.