I would set aside enough money to cover my newfound tax liabilities. Given my initial payout would probably be around $1.5 million USD, I would need to set aside around $530,000. I'd have around $970,000 of the initial payout left.
Then I would set about paying my student loans off completely. I suspect this would leave me around $700,000 after both paying my taxes and settling all of my outstanding debts.
Once those have been paid off, I'll likely begin saving to purchase a house. Or, in the event that I move back in with my parents, I'll make an effort to help them pay their house off completely. This would probably be an additional $500,000 removed from my earnings. Possibly $700,000 if I decide to do both, but let's go with $500,000 for now.
After that, I would likely split all additional proceeds between personal investments and philanthropic donations, mostly to Jewish organizations, medical non-profits, and programs for the homeless, under-privileged children, the hungry, and abandoned animals. If the need should arise, I'd help out my loved ones. So about $250,000 to charity and about $250,000 to investments, with said investments likely being split between a rental property where I could set monthly rate below the market average to help someone else climb the social ladder and a diversified portfolio.
I do not plan to make the lottery an alternative to hard work and a steady paycheck. That said, the initial payout alone would allow me to actually be somewhat comfortable for the first time in two years. As opposed to working sixty hours a week, being weighed down with debt and guilt, and resting fitfully.
