There is a lot of buzz right now about the lottery. With no winner on Wednesday, the jackpot has climbed to $700 million. The odds of winning are staggering, but it's still fun to dream. I get excited to find $10 in my pocket, so $700 million is pretty hard to comprehend, but I'll try.

Back in elementary school, I remember being given an assignment to write a detailed report about how we would spend $1 million, with the caveat that only 20 percent could be donated to charity, no more than 10 percent could go into savings, and that everything else had to be accounted for using realistic prices. At the time, this seemed to be quite a challenge, but now I don't think I would have any trouble determining where to spend the money, and probably remain working.

On the other hand, $700 million is so big I can't even fathom it. Online I saw someone say that if they won, they would buy a new truck. There is nothing wrong with purchasing a new truck, but the value of that purchase in relation to $700 million is like taking a cup of water out of the ocean. Someone else stated that they would put it all toward charities that they support, one person said they would put it all into savings, never touch it, and let someone else handle it when they were gone. And one very honest soul said they would head to Vegas, have a good time, gamble and probably leave empty handed. There are a lot of ways to approach it, and for every dollar in that lump sum, there is a different way to prioritize spending, saving and donating the money.

How would you spend that kind of money? And what if the perimeters that were in place on that elementary school project were also in place?

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