I hadn't really thought about it besides a vague plan to get a lottery ticket on the way home from dinner, but on the way to the Pines, my dinner companion asked what I would do if I won a significant amount of money.
The conventional wisdom is that if you manage it carefully, you'll do much better financially taking the lump sum and investing it than by taking the annual payments, but I think I would go the annual route. It greatly lessens the chance I would somehow blow through the whole pile in three years and have nothing left. I like to think I would be smarter than that, but I also know it happens.
I'd stop looking for a full-time job, of course, for now, at least. (I'd probably keep doing all the part-time and freelance stuff. I'll always need things to do.)
Pay off my mortgage and other, lesser debts.
Buy a nice lake house and a sailboat, and my dream camera collection.
Walk into a random restaurant and anonymously pay everyone's tab.
Put some money into a few local and national causes I care about.
One of my Facebook friends posted about an hour ago asking what it meant if you didn't get the Powerball number, but you only got the other five. I think she was screwing around, but if not, she won a quarter million dollars. My comment was that if she really had, she should a) be careful who she told, and b) consult an accountant and a lawyer before making any decisions.