$1M Lottery Winners Are Split on What To Do With the Money

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Ramsey Network

Self-improvement, Education, Investing, Business

4.6 • 682 Ratings

🗓️ 8 May 2024

⏱️ 7 minutes

🔗️ Recording | iTunes | RSS

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Transcript

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0:00.0	Brought to you by the Every Dollar app. Start budgeting for free today. So my husband and I got
0:07.9	married in September 2022. We were lucky enough in October 2022 to win a million dollars through the
0:15.6	Canadian lottery. Whoa. My gosh. Yeah. That's amazing.
0:22.6	Oh, my gosh.
0:23.6	Was it one of those that you had to like pick numbers, like the power ball here in America?
0:28.3	Or what is it?
0:29.8	Scratch off ticket?
0:31.4	To be honest, it was a $10 ticket that we bought because my husband had just switched from oil field services and wanted
0:39.2	to try a different industry and be home. So we were making a joke at a gas station and it was
0:44.4	the third ticket I've ever bought. And I just, yeah. That is so wild. Okay. So this was back in
0:51.5	October of 2022? It was, yeah.
0:55.1	So do you take a lump sum or payments?
0:57.6	Like, how do they do it in Canada?
0:59.7	So in Canada, there's no taxes or anything.
1:03.3	So we were...
1:03.6	There's no taxes on the lottery?
1:06.3	No.
1:07.1	So you actually got a million dollars Canadian.
1:09.5	Should we go to Canada?
1:10.0	Yeah. And it was a lump sum? They Should we have to Canada? Should we go?
1:11.1	Yeah.
1:11.9	And it was a lump sum?
	...

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