Default Style Register
Daycare.com Forum
Daycare Center and Family Home Forum>So, Hypothetically, You Won A Lottery...
youretooloud 10:32 AM 05-17-2013
It's enough money to live on for about 10 years if you and your spouse were to retire. Or, one of you could retire, and you'd have enough in savings to last 20 years. Lots of scenarios.

Would you retire now? Or keep working until you were older and the kids were grown?

BTW, It's truly hypothetical, I have not ever played the lottery. Just wishful thinking.
Reply
Patches 10:34 AM 05-17-2013
I would have my husband retire, pay off all our debt and continue working. I would probably scale back the daycare a little, but wold definitely want him to retire first.....Now I'm daydreaming
Reply
Blackcat31 10:41 AM 05-17-2013
Today would be my last day.

....and I'd have no regrets.
Reply
bunnyslippers 10:41 AM 05-17-2013
I am sure we would both keep working and pay off as much of our debt as we could in order to retire later, worry free.
Reply
ABCDaycareMN 10:45 AM 05-17-2013
My husband would keep working (don't know if he knows that yet) but we would but a nice new house and new vehicles for each of us.
Reply
Play Care 10:48 AM 05-17-2013
DH and I have talked about this. If we were to win a big jack pot, we would both retire. If it wasn't that big, we would both continue working, paying off any debt (we don't have much of that - just a mortgage, one car payment and some student loans), and padding retirement savings. We might both retire earlier than expected though.

Of course, we never play

On a side note, my BIL is friends with a guy who won a big jackpot. According to the friend, it's not all it's cracked up to be - and he's the type that was good with money prior to the win, so it's not that.
Reply
youretooloud 10:50 AM 05-17-2013
We are basically out of debt now.

So, I think i'd work another year or two, but not take any new kids...just wait til this group outgrows me, then quit, sell everything, sell this huge house, and buy something small (with a yard) and maybe a vacation home too. I'm ready to be a reverse snow bird.
Reply
Childminder 11:09 AM 05-17-2013
Goodbye! But we are already old, almost debt free except our mortgage and soooo tired of working.
Reply
canadiancare 11:12 AM 05-17-2013
Sorry I can't hear you. The waves on the beach are too loud.
Reply
SunnyDay 12:09 PM 05-17-2013
Originally Posted by canadiancare:
Sorry I can't hear you. The waves on the beach are too loud.

Reply
mema 12:18 PM 05-17-2013
Buh-bye!

We would probably both still work part time so that we wouldn't kill each other. I would work around the kids schedules tho. No school, no work type thing. Not sure where that would be, other than working at the school, but I guess I would have time to figure it out!
Reply
youretooloud 12:30 PM 05-17-2013
Originally Posted by Childminder:
Goodbye! But we are already old, almost debt free except our mortgage and soooo tired of working.
That's basically how I feel. I've been working since 1979, and my husband has been working since the early 70s. I feel like we've done our part. Not that continuing to work is going to kill me. But, I can see myself being ready to retire early.
Reply
momofboys 05:12 PM 05-17-2013
Bye~ I would quit childcare for sure. Volunteer at school every week for my kids, fix up our home. Save most of the $$$ after paying off our house & put aside $$$$ for our kids' college. My husband has about 20 years til retirement kicks in so maybe we could invest $$$ somehow to help inflate our retirment $. I imagine he would still need to work at least some but maybe he could retire early??
Reply
Happy Hearts 06:12 PM 05-17-2013
The parents can keep bringing their kids to me if they want to but I'll be squirreled away in my scrapbook room when I'm not playing with my grandchildren.
Reply
snbauser 07:26 PM 05-17-2013
I would allow dh to retire and I would keep working. But I would cut my hours more if I could. Dh is older than I am and is close to retirement age anyway. He deserves to be able to retire and relax some.
Reply
blandino 07:59 PM 05-17-2013
I think I would cut back my hours to a half-day preschool, maybe open few enough hours that I wouldn't need to be licensed.

Also, would love to have the financial situation to have my dream center. Now I am day dreaming too !!
Reply
cheerfuldom 08:28 PM 05-17-2013
I have thought about this scenario a lot....especially considering I have never even played the lotto LOL

I would quit as soon as I could. Doesnt it take awhile to get that money though? and its like a half or a quarter of the actual winnings since taxes take so much.

We would get a good lawyer and financial advisor and invest accordingly. So I would quit and then pay off all debt first and foremost. I dont think my husband would quit. We would not move and I would not get a different car. I love our neighborhood and I know a lot of people say this but I really feel in my heart that I would not change even if I had a lot of money. I am frugal to a fault and that is so much a part of me. I do think that my husband would want to get some schooling going to advance his career but he does love the field he is in (not always the particular current job). I would still have my kids and household to take care of and one of my kids is homeschooling and I would want to finish my college degree. None of the big parts of my life would change. But I would probably do a little splurge in getting a house cleaner to help out so I could focus on my family and schooling. Other splurges would be a family vacation and some lessons for my kids...swim and music for each. Maybe dance or gymnastics if we could work it in.

On another subject, I would not tell any of my relatives that I won....or anyone I know. I would help out a few select people and also my church but all done anonymously!
Reply
daycarediva 12:34 PM 05-18-2013
Unless it were millionS, we would both still work, we would just pay off what's left on our house and dh's vehicle so we would be completely debt free.

I would also open my own small center, so that my daycare + home are separated and would hire enough staff that I could work 9-1 while my kids were in school. I really do enjoy my job and love kids, but I would love it even more if it were less hours and enabled me to be with my own kids more.

No big houses, no new cars, no real splurges. Like cheerfuldom, I am super frugal and I wouldn't tell ANYONE we won anything. I would give some to our parents, and that's it.
Reply
Reply Up