Am I making a bad decision regarding my lottery winnings?

Long story short, I won a large sum of money from the state PowerBall. After taxes were taken out, a financial advisor was hired and everything was sorted out.. I am currently gaining an interest from the bank somewhere in the ball-park of over a million/year.

Yeah.. I was a little shocked too. I’m a very modest individual and I believe things like yachts, ferraris and other materialistic items are a total waste. So I started keeping on 150,000/yearly and I donated the rest (900,000+) to charity. I live in a MODEST log home in South Carolina and drive a blue F250.

My friends tell me that I am “wasting my money by giving it away to charity and not spending it all on yourself,” they even think I’m crazy not to own some stupid sports car. They think that when I get old I’m going to look back and resent not spending all of that money.

AM I going to regret it? Is what I am doing a GOOD thing?

Do you regret giving your money to charity right now? If not, then you probably will not regret giving that money away in the future. It sounds like your friends are a little greedy and jealous of your good fortune. Of course giving money to charity is a good thing. By giving money to charity, you are helping people in need, and in today’s economic climate, there are many people in need of assistance. You didn’t say which charity you gave money to, but I assume that you did some research about this charity and know what kinds of people they serve and how the charity helps these people.
As to what you do with the money, tell your friends to be quiet. If you are happy with your lifestyle, that’s all that matters. And it sounds like you are able to make the decision on how much money you keep or give away on a yearly basis, so you know, if you wanted to get something, you could do it. It sounds like you are in no way depriving yourself of anything you want or need.

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