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Old 06-19-2019, 01:03 PM
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Thought experiment: What if you had a billion dollars?


Being a poor PhD student (destitute, not a bad student), I was thinking, as perhaps some of us occasionally do, about how nice it would be to have a little more money. Then...how about adding enough to pay my debts? OK, how about add a bit more to fix up the house and our old cars? Heck, how about even more, so I can do any kind of work--or not--after graduation?

The thought inevitably led to, what if I had a billion dollars?

I wrote down a lot of thoughts, about things that are important to me and my life, and what having a billion dollars would do for each of them. Bottom line, much of your life would be spent worrying about and/or managing this money. Your life wouldn't be the same anymore. The things you'd like to do would all be distorted appreciably and wouldn't be quite what you had wished for.

So I then flipped things around, and asked myself, for each of the items I wrote down that are important to my life, how many of them can I do affordably or for free?

Surprisingly, almost all of them. So...it became an exercise of finding what you want to do in life, and realizing you can probably afford each of them. You just have to get started accomplishing them.

I didn't expect this outcome. Turned out, I only "need" a much smaller figure, way less than a million, to make me comfortable and accomplish all these goals. My next several years of working ought to take care of that.

So...if you had a billion dollars, what would you do...and does that really require a billion dollars to accomplish?

Last edited by Limmin; 06-19-2019 at 01:04 PM.
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Old 06-19-2019, 01:13 PM
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Bottom line, much of your life would be spent worrying about and/or managing this money.
You pay people to do that for you.

A billion dollars is sufficient money that, short of me trying to buy islands and gold unicorns, it would probably be difficult to mismanage myself into poverty. I'd be more worried if I was trying to live on a couple million since you can blow through that without really trying to.

Last edited by Jophiel; 06-19-2019 at 01:13 PM.
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Old 06-19-2019, 01:13 PM
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The main difference for me between 100 million and 1 billion would be the amount I give away.

(but even at $100 million I could give a lot away)

I could spend $50 million pretty easily (a big boat, houses in cool places, and a nest egg). After that, I don't know what I'd do with more other than charitable contributions.
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Old 06-19-2019, 01:25 PM
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You pay people to do that for you.
Yes...then you need to check up on them so you're not being ripped off or continuously lied to, like Pierre in War and Peace.

As for giving away all that money...yes, putting it into a self-sustaining non-profit to fix selected problems in the world, like the Gates Foundation, seems a great idea.

Then...you're back to having only a smaller amount of money to deal with, pretty much where I figured you'd end up, right?
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Old 06-19-2019, 01:28 PM
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You pay people to do that for you.
Yep, the first thing I'd if I won a huge lottery jackpot or something would be to go talk to a professional financial advisor.

Then I'd pay off my mortgage and probably do some remodeling, nothing too crazy though.

This does bring up an interesting thought. Since I'd no longer need to work there would really be no need to stay in that particular house or even this city. I could go live anywhere I wanted. I'm not really the type to blow a big chunk of it on a mansion in Malibu or something like that, although a more modest house on an isolated California beach does have its appeal.
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Old 06-19-2019, 01:29 PM
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Before or after taxes?
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Old 06-19-2019, 01:43 PM
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I don't need a billion but I'd need a lot more than a million to maximize my happiness since I do feel a lot better when I am not working and I enjoy vacations and I live in a country without UHC so I don't want to worry about unexpected medical expenses. $4 million would probably be sufficient.
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Old 06-19-2019, 01:48 PM
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I have a list of people that I would "take care of" should I suddenly become a millionaire. That means I pay off all of their debt, make sure that their kids go to college debt free, and fix their cars up. Most of my friends really like their car, just want the damn thing to work. If they rented a house, I would buy it from their land lord if they wanted to stay there. After that, I would fix up my cars, like, totally restore them. I have a 1992 Cutlass that would be brand new, and my 68 veedub would be finally finished. I would also build a brand new 1979 Chevrolet Bonanza Heavy Half truck with the inline 6 292 engine and mate it to a T5 5 speed transmission. My band would go on tour with Heart, Live, The B52s, Beck and Pearl Jam and my wife and I would probably adopt some kids. I would retire to a large organic farm and throw the party of a lifetime, and all of you bastards are invited.

I would probably buy the Chicago Reader or whoever manages the SDMB and make it advertisement free again and pay all of the moderators a good "don't worry about the bills again" wage.

I would make sure that by the time I was dead, I had given most of the money I got away.
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Old 06-19-2019, 01:49 PM
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I would start a chain of businesses in all different sectors, all designed to operate at a slight loss, offering the sorts of services and products that a combination of Tragedy Of The Commons and Race To The Bottom have driven out of existence.
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Old 06-19-2019, 01:54 PM
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A billion bucks - you either hire a (or a couple) of good investors to invest it diversely. Then you hire a couple of independent accountants to audit them. Go with large established firms, instead of your drinking buddy's cousin who "knows all about investments." Or you just toss it in a couple of Vanguard money markets and some combination of T-bills and munis.

At 3%, you generate $30 million income per year. That alone would allow you to hire sufficient advice/protection of your investments, leaving plenty to spend/gift as you wish.

You'd probably have to get used to saying "No" to a lot of people. Of course, you'd have the resources to allow you to be extremely generous and say "Yes" in a whole bunch of ways.

I just went to a music camp, and enjoy live music. Mostly acoustic, old-timey. Tons of incredibly accomplished folk working really hard to make very little money. It would be so incredible to be able to just gift such people $10k here or there. It would be entirely life-changing for them, but would mean nothing to you. You could find such things in just about any endeavor. Or dropping $100 tips without a second thought.

I don't see the problems suggested in the OP.
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Old 06-19-2019, 01:55 PM
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I've long thought up various fantasies about what I'd do if I won $10 million in the lottery, or $100 million, or $1 billion. I have different plans all scaled-up or scaled-down all ready to go for each.

With $1 billion, I'd simply execute the $1 billion blueprint. So I'd direct movies, give to a variety of churches and causes, start businesses, have family financially set for generations to come - but either way, every penny would be accounted for, just as if I'd only won a million. It would not be a sum of money "too big for me to know what to do with." All planned out
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Old 06-19-2019, 02:03 PM
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If I had a billion dollars I'd buy you a house, some furniture for your house, and a K-car.

I can think of lots of things to do with the money. The hard part is winnowing that list down to something actually workable.
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Old 06-19-2019, 02:09 PM
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I'd give my son and daughter each $50 million for ther birthday that year. Next I'd put $50 million in an account of some sort as a safety net. The rest I'd attempt to spend. I'd keep fifty Benjamins in my wallet to use for tips, and my goal would be to run out of hundreds by the end of each day.
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Old 06-19-2019, 02:15 PM
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Hmm... I could actually do something with that much money. Start an intellectual foundation, founded on some premise that's important to me, blow 250 million on publicizing its existence, drawing in some talking heads to discuss it, etc, enough to see if, once a critical mass of people* is exposed, the ideas have some legs under them.


* "critical mass of people" = a large percent of the population will not give anything you say much serious attention until they believe a lot of other people are paying attention -- negative OR positive -- to what you say. doesn't mean they'll embrace your views once you do attain critical mass, but they'll consider them in a different light, realizing you've got an audience.
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Old 06-19-2019, 02:44 PM
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Yes...then you need to check up on them so you're not being ripped off or continuously lied to, like Pierre in War and Peace.
Once every year/couple years, hire a third party to check the books and audit the first guy. Unless the first guy is ripping you off for $500mil a year, you're probably fine. In any event, the amount of time I'm saving by not having to earn a living is going to far offset the time I spend monitoring my finance guy.

I mean, I'm certainly not qualified to manage a billion dollars by myself so I can either reasonably trust in professionals like I do for numerous other things or just go live in a cave.
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Old 06-19-2019, 03:08 PM
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... $4 million would probably be sufficient.
I agree...the extra $996 million needs to be dealt with, and that's a burden...

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I'd give my son and daughter each $50 million for ther birthday that year. Next I'd put $50 million in an account of some sort as a safety net. The rest I'd attempt to spend. I'd keep fifty Benjamins in my wallet to use for tips, and my goal would be to run out of hundreds by the end of each day.
I think I would get tired of the instant celebrity this would bring, trying to manually, out in the public, blow through $850 million using $100 dollar bills. The first time a much younger woman makes an outrageous attention-getting move (like showing up nude at my door, etc.) it would be flattering, but I would soon tire of it. And I would not want to have to build a multilayer means of screening myself from the world; that's the part I was saying I would not like. The money is just yelling for attention...so I'd have to give most of it away for my own sanity.

Last edited by Limmin; 06-19-2019 at 03:10 PM.
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Old 06-19-2019, 03:14 PM
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I owe less than 100K on my house, and could probably do every thing I want to this house for less than 200K, probably less than 100K. Another 700K invested would probably pay for bills, property tax and the people I have already to do house & yard work. Let's add another million in investments to be able to buy anything I want, and possibly hire someone to cook for me*

And I still have $999 million to play with.

Another minuscule percentage would buy the house my Mom is renting, or something similar & suitable. And I could afford to hire someone to take care of her house, maintenance and yard work.

Next up would be gifting money to a couple of my favorite authors and artists. Maybe not enough to set them up for life, but enough to take the worst of the worry off.

And setting up some funds for a few friends of mine who need a break.

And I still have a stupid amount of money.

So next would be hiring someone to investigate the politicians who I will consider supporting, and making donations to their campaigns.

Finally, a foundation. I would like to make a charitable organization that both provides social services to people who need help because they're disabled or because they have ADHD or similar problems, and the organization would hire people at better than market rates to improve economic outlook for the community at large.

Or maybe I'd make an organization that would hire people who had good and creative answers to the question "What would you do for $25 an hour to make life better for people around you?"

*Note, I have no idea right now how much I would have to invest to get a certain amount of income, but hey, I got a billion to play with, right?
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Old 06-19-2019, 03:18 PM
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I find these kinds of hypotheticals interesting to think about. I've also seen it happen to people.

This is the kind of money that would warp the world around you. What you think you would do and what it would actually be like are very unlikely to be related.

For those of you that play games, how interesting is a game that you cheat at? Like how fun is poker with unlimited money? How fun is any game when the stakes go away? Having a billion dollars is like playing life on god mode. Material things will quickly bore you when you can literally have anything you want. At best your collection of Ferrari's might provide you some minor amusement. Having a yacht is great but you'll quickly get used to it and to having the best of everything. Sure nice stuff is nice but the reality is that you can own 10 yachts, 10 homes and endless junk but you can only use so much of it at a time.

Now think about how the rest of the world is going to view you if you are openly a billionaire. Many people would just hate you for being rich outright, but they will still great you with a smile because they might get some of that moola. People will constantly be trying to sell you things because they know you have big money (tons of investments for example will "come your way"). Eventually this means you will start putting up barriers to people contacting you. You'll now have "people" who do things for you and arrange your schedule etc. As a side effect of your time being so valuable (since time is the only thing you have once you have unlimited money) you will become harder and harder to actually spend time with.

In other words the gravity of the money will warp life around you.

Now can you avoid this fate? Yes, you can make a conscious choice to keep it real and on the down low as much as possible. Some really wealthy people live pretty anonymously and there are places you can do that (like Monaco) since everyone there is rich.

source: I know a lot of rich people including several billionaires who have made their money since I've known them.
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Old 06-19-2019, 03:41 PM
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source: I know a lot of rich people including several billionaires who have made their money since I've known them.
Yeah righ…[checks neutro's location]...ah. OK. They're why I had to leave that neck of the woods. Clustered rich people make everything so damned expensive.
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Old 06-19-2019, 04:48 PM
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In other words the gravity of the money will warp life around you.
This is an understatement. Everyone here talking about going on public spending sprees and handing relatives and friends lumps of cash should probably read this reddit thread about what to do when you win the lottery, particularly the part about Jack Whittaker (was already a successful businessman when he won $315 million, the result of which ruined his life and drove him to bankruptcy).

https://www.reddit.com/r/AskReddit/c..._hear/chb38xf/
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Old 06-19-2019, 05:28 PM
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To quote an old joke, "I'll keep farming until it's all gone."
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Old 06-19-2019, 05:32 PM
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I would not buy a mansion, or a jet plane, or a limousine.
But I would rent them for a few days, just to see what it's like.

Is a billion dollars enough to start a new university? Or would I have to bribe my alma mater to re-name itself after me?

I would do a LOT of traveling. My goal would be to visit every country on earth, every state/province on earth, every county/parish on earth, and the most important cities on earth.
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Old 06-19-2019, 05:34 PM
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First I'd put it all in a simple savings account at my credit union (they'd all have heart attacks from joy). I mean, why would I want to invest or "manage" any of it? It's not like I need to grow it any.

Then I'd quit my job.

Then I'd buy a midsize house, cash, somewhere in my current area but possibly more conveniently located to the friends and family I have here. It won't be a mansion, but it won't be a fixer-upper either.

Then I'd furnish that house with medium-quality furnishings demonstrating no taste whatsoever.

Then I'd move into that house.

Then I'd hire a cleaning service to come out to the house twice a month and somebody else to manage (or pave) the lawn.

I won't replace my car immediately, but when I do it will be with a modest car geared for comfort and functionality, not style or speed (of which I have neither). So, probably another Kia Soul. Though if self-driving cars happen I will definitely get one of those. (Especially if it's a Kia Soul.)

I'd set up a regular bi-weekly transfer of $1500 or so from my savings account into my 'day-to-day' account. This covers bills, regular expenses, and a generous frivolity fund. Disasters and major expenses like car replacement can be paid from the big account, but fun stuff comes from the day-to-day account.

And so would I live, quietly entertaining myself until I died and gave whichever of my surviving relatives that Idaho hands my remaining cash to a chance to ruin their lives with the money.

Oh, and prior to that I would refuse to give any money to anybody. That's just asking for trouble.
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Old 06-19-2019, 05:52 PM
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I'm retired, and my house is paid off and I already have a financial advisor. After he picks his jaw off the floor, I'd meet with bigger wigs at his office.

I'd pay off my son-in-law's law school debt, and pay off their house, and buy a house for another daughter. They are both doing quite well, and don't need a ton of money. I'd put money in a trust for my grandchild and all future grandchildren. I guess I'd buy a new car, though I like the one I drive fine, and my wife has a new car already.

Our house is already too big for us, so why move? Travel a bit more, first class I suppose.

Mostly I'd put a lot of money into the local food bank, into the ACLU and Planned Parenthood, some into my college (though they have tons of money already) and I'd probably donate the maximum allowed to all Democrats running for Congress next year, and a bunch to the presidential candidate.

Oh, and a gift of a charter membership to all active Dopers.

And I'd still have money left over. The problem, alas, is that money doesn't let me read any faster. Time is what I'm poor in, even when retired.
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Old 06-19-2019, 07:34 PM
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First I would put most of it into an index fund based on a major exchange. Then I would get into one of those jet timeshares so I could go where I want, when I want and skip all the TSA shit (and the equivalent in all other countries). Then I would go off and do my mathematical research, same as now.

BTW, I know a guy with $100,000,000 who mainly does his research and little else.
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Old 06-19-2019, 07:35 PM
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I'd be the kind of billionaire the very thought of whom makes good leftists foam at the mouth: self-indulgence on a Cyclopean scale. I'd spend money on exotic pets, pretty young men, luxury travel, top-drawer drugs, and a cigarette holder made out of black amber. I'd be a patron of the kind of weird abstract art that confuses and irritates normal citizens. And I'd make damned sure I had a shit load of media coverage, too.

Because I'm basically good-natured, I'd also pass out c-notes to panhandlers and make reservations for 13 at the snobbiest most elitist restaurants in the USA, and bring raggedy street folks as guests. Otherwise, all my charities would be animal-centered ones

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Old 06-19-2019, 07:49 PM
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If I had a billion the first thing I would do is consult with the best nursing home in town, and set aside enough money, plus 10%, so that when the time comes I would be well taken care of. I would set up similar funds for my immediate family.

Then I would begin a long trip, while I planned for the rest of my money. I might be gone for at least six months.

I know that at least half of the money would be given away. I would have a law firm on retainer, so that when I heard of a local need, I could call the firm and have them send a check. School needs, some hospital bills for a couple of friends, two animal shelters I hold in high esteem. A good chunk to my church. I would establish a nursing scholarship named for my mother, a teaching scholarship for my maternal grandmother, a scholarship named for my paternal grandfather, and a couple others.

I would rent a nice apartment, and give away my house. I would eat out a lot, but still have fun cooking at home.

Oh, almost forgot, I would finance the Dopefest to end all Dopefests, renting out a block of rooms so folks could afford to come.
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Old 06-19-2019, 08:56 PM
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Well some posters on here claim they would commission studies, I on the other hand would crush my enemies, see them driven before me, and hear the lamentations of their women.
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Old 06-19-2019, 08:58 PM
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First I'd put it all in a simple savings account at my credit union (they'd all have heart attacks from joy). I mean, why would I want to invest or "manage" any of it? It's not like I need to grow it any.
First off you wouldn't be insured if you did that. Also, you would get a horrible rate of return.

What would actually happen is you would be elevated to the private client division of the bank you are dealing with. They would offer to help you (e.g. sell you stuff) but you also get a higher level of service.

In practice with a billion dollars though you would likely end up using a private office. This is an investment firm that you own that invests your money for you.
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Old 06-19-2019, 09:08 PM
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I'm feeling like people aren't really understanding how much money a billion is.
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Old 06-19-2019, 10:13 PM
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A billion dollars invested fairly conservatively should grow at 4%, which is 40 million a year.

So I'd give out large grants to various charities and people.

Even 2 million invested wisely can make life much much easier for a family for several generations. The problem is finding a family that'll use it wisely and not squander it. A lot of people blow everything they have no matter how much it is. But if there was a family that was struggling but I knew could handle money responsibly, giving them 500k to invest so their lives could get a lot easier (eliminate their mortgage debt, car debt, student loans, etc and have money for daycare) that would be nice.

I think I'd start a charity like the macarthur genius grants for fields like neuroscience and AI.
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Old 06-19-2019, 10:33 PM
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Mostly cocaine and hookers probably.
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Old 06-19-2019, 10:37 PM
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Billion with a 'B'?

I'm lucky enough to know a couple of people with incurable, life-ending disease. In the first case, I'd pay off the family debt, establish a trust that covered every possible foreseeable expense, times ten. The other, never a worry about any want at all. Amenities. Send all their kids to college, full ride (except the ones that already have that, smart kids!).

Pay off Steve's debt, buy him a stupid sea-worthy sail boat. Convince him to go through with the divorce he wants so bad.

Buy a company. Make my kid work at it 40-50 hours a week for 30 years, then its his.

Expand my modest car collection. All new acquisitions would be conspicuously immodest. Maybe sub-contract Leno's guys to work on them now and then.

A small horse-cart.

The rest? Buy new collars for the crew at PetSmart. That should about kill it.
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Old 06-20-2019, 12:01 AM
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My standard practice with windfalls is to invest half (including paying off debt like a mortgage) and spend half.

My parents left me a house, and part of my retirement income comes from investing half of that.
In the meantime I spent some of the rest on:

- trips to Las Vegas (no gambling, but I now have friends there )
- safari to Africa
- model railway (here in its early stages)

If I had a billion to play with, my spending would include:

- having a small castle built (moat, drawbridge, portcullis, battlements, secret passages etc.)
- turning one of my roleplaying campaigns into a computer game
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Old 06-20-2019, 12:33 AM
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Mostly cocaine and hookers probably.
You posted this while I was typing. I change my answer.
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Old 06-20-2019, 02:43 AM
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So...if you had a billion dollars, what would you do...and does that really require a billion dollars to accomplish?
If I had a billion dollars, I would specifically set out to do some investments of the kind which do need multiple million dollars. I don't know how long would it take me to burn through it, but I'd target my hopefully-productive investments into companies which passed my ethical sniff test (thus helping ethical companies) and I'd establish grant programs to assist researchers, entrepreneurs, teaching and healthcare systems, infrastructure programs… The kind of investment which pays back not in money but in better lives.


And if I had un billón de euros, the above times 1000 Even with all the flights to see this school or meet that minister, that would take a long time to spend!
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Old 06-20-2019, 04:18 AM
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I think about this a lot.

I could live okay on $1m. It wouldn't be a luxurious life, but it could be done. This is assuming basic low risk investment at a bank, and then a quiet retirement in an insignificant corner of the world, perhaps with a supplemental income as a backup and to keep me sane.

With $2m I would do the same but with a nicer home and location. With $5m I could be a bit more luxurious, and share some without much concern. After that, any higher and it gets into crazy levels of luxury. I might put some into running a business or being a silent partner in something I believe in, or helping friends and family by quietly increasing their standard of living too, that kind of thing.

This is assuming it is the amount described, in cash. No tax shenanigans reducing it by half or whatever, the net amount I have is $x million.
  #38  
Old 06-20-2019, 06:13 AM
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I'd give a quarter to charity, then get to work on spending the remaining $999,999,999.75.
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Old 06-20-2019, 09:07 AM
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A billion really isn't that much money. I'd move to northern Idaho with my friends and family and start the compound we've been talking about. First off I need 2,560 acres so we can live a mike from our boarders. That will run 100 mil. Then I need to set up the society, agriculture, education, businesses to support ~160 people or 40 families

We'll need to raise 60 klbs of meat each year so that will take up 4,000 acres and we'll need another 4,000 for farming. 40 houses and business will burn 200 cords per year so we'll need 800 acres of timber.

In the end I'll need about 12,000 acres of good land so that's half my billion and the. To set up the rest of the businesses and infrastructure will easily take the other half. I planned it all out once and I needed like 5 billion to do it right but I could squeak by on a billion.
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Old 06-20-2019, 09:36 AM
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I'm feeling like people aren't really understanding how much money a billion is.
Yes. The sum is staggering and warps the world. It's many orders of magnitude more than you can deal with by yourself. So thoughts turn to putting the money to work for good causes.

And yet, there are quite a few multibillionaires. Left long enough, you might start believing that you're somehow special just because, you know, of the huge sum of money.

Conclusion: I really don't want a billion dollars.
  #41  
Old 06-20-2019, 09:38 AM
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I have modest requirements, no debt and live in a country with UHC so my needs are small.

I'd give £500k to each of my close family (enough to make a huge difference, hopefully not enough to be catastrophic)

I'd buy a ski apartment in the alps and a slightly bigger house where I am now. Say £600k in total for that. A nice car but nothing hugely flash, say £40k for that.

I'd set £10 million aside for investment, contingencies and perhaps an income and that would be it. With the rest I'd set up an charitable fund that invested and support good causes. That would employ myself and a few like-minded people to manage it. That'd pay me a modest salary and keep me busy and my spare time would be a quiet home life and holiday travel.

I think it is true that a billion would be too much for me, that's why I'd give 98% of it away. I don't need it and don't really want it.
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  #42  
Old 06-20-2019, 09:43 AM
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That should be enough money to buy and manage a little ranch to call my own.
  #43  
Old 06-20-2019, 10:05 AM
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Conclusion: I really don't want a billion dollars.
I'll take yours.

There are over 2100 billionaires in the world, another 1 isn't going to warp reality. If it happens to me I'll get by somehow, I'm sure.
  #44  
Old 06-20-2019, 10:53 AM
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I'd give a quarter to charity, then get to work on spending the remaining $999,999,999.75.
Totally stealing this. Uh, the joke, not the money.
  #45  
Old 06-20-2019, 11:38 AM
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Mostly cocaine and hookers probably.

It took until Post 32 for someone to mention it? Clearly I've had way too little time for the SDMB lately.

Something that was a goal back in my college days (I did a lot of various substances) was to buy the Open Pantry convenience stores and remove all the "r's". That would still be something I would consider even though the chain itself is basically defunct. The world, or at least my vision of it, still needs a chain of adult-centered one-stop-ripoff-centers.
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Old 06-20-2019, 11:47 AM
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It took until Post 32 for someone to mention it? Clearly I've had way too little time for the SDMB lately.

Something that was a goal back in my college days (I did a lot of various substances) was to buy the Open Pantry convenience stores and remove all the "r's". That would still be something I would consider even though the chain itself is basically defunct. The world, or at least my vision of it, still needs a chain of adult-centered one-stop-ripoff-centers.
"Plaid Panty" is still an option, y'know.
  #47  
Old 06-20-2019, 11:48 AM
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Quote:
Originally Posted by Czarcasm View Post
That should be enough money to buy and manage a little ranch to call my own.
You could get 4 of those...

Quote:
Originally Posted by Telemark View Post
I'll take yours.

There are over 2100 billionaires in the world, another 1 isn't going to warp reality. If it happens to me I'll get by somehow, I'm sure.
Would you rather it happen to you, or not? I'm not reading a full commitment either way...

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Originally Posted by Red Wiggler View Post
Totally stealing this. Uh, the joke, not the money.
LOL
  #48  
Old 06-20-2019, 11:50 AM
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You could get 4 of those...
Not if I want to keep it running. I'm factoring in management costs.
  #49  
Old 06-20-2019, 12:54 PM
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Would you rather it happen to you, or not?
Hell yes. I would make it work for me and do good for the world. My world would change, but for the better.
  #50  
Old 06-20-2019, 12:57 PM
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If I had a billion the first thing I would do is consult with the best nursing home in town, and set aside enough money, plus 10%, so that when the time comes I would be well taken care of. I would set up similar funds for my immediate family.
I would buy the best nursing home in town, which would ensure a lot better experience for me than just having the money prepaid. If the manager knows they will be out on their ass if someone screws up, I'll be sure to have a good experience.
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