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First post on TFP, greetings all.
California held its first Million Dollar Raffle last Saturday with the chance of winning, while still meager, better than 1 in 500,000. The odds were definitely better than the state lottery, and also offered a greater payoff than Scratchers. I convinced myself to buy one.
Figuring two thirds of the million will remain after taxes and other fees, I would: pay off my parents mortgage and my student loans, set aside some money for my brother's college education, send a little ($10,000 or so) to my grandparents in China, buy a new car (Prius or another hybrid) and a new computer and various other gadgets, and place the rest into various CDs and/or bonds, maturing throughout the year. With the interest accrued I could supplement my income and continue to help my family. My parents could sell their business and live much more leisurely.
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