So you just won Powerball, now what do you do?

Miscellaneous and Personal Stuff I Must Share
1

Here’s the premise:

They’ve just drawn the Powerball numbers, and against all odds, you are the lucky winner. No one else hit the numbers, so you get the 290 million prize. Let’s say you’ve take the cash option, which their website says is 162.9 million. Next Unca Sam and his other minions (State and Local) take their slice of the pie, for ease of argument let’s say that leaves you a cool 100 million.

Now what do you do with this kind of money? Do you spend it all on something(s), give it away, throw it in the bank, become a Beverly Hillbilly, buy an island, what?

I am asking this mainly because I can not personally think of how a normal person could spend this amount of money. I infer from a lot of things in the GQ thread that some people are hoping against hope and plunkin’ their good money down, but please answer even if you are too smart to spend money on lottery tickets.

2

First thing I do is find a god lawyer before I even let it be known that I won.

3

Let’s see, put it in a savings account. Since they are insured to only $100,000 per account (is this up?), to save $162M you would need 1,620 accounts. That would take some time, that’s what Id be doing.

4

Good luck finding one of those. Plenty of the other type available, though.

5

I would buy 3 first class tickets to Amsterdam, for me and Spiny Norman and Coldfire, when we return from the LA fest.
Since I live in California, this may sound confusing, but my plans would include a nice vacation (2 months?) in Europe visiting my friend in Zurich and seeing Italy for the first time.

As for immediate plans, the lawyer thing sounds like a good plan. As long as he/she lets me have a little bit to play with right now. I like my house a lot, but real estate is an option, maybe something on Maui. I can rent it out most of the year, make plenty of money, and still have it available for my private use for holidays.

I want Beck to play at my next party. How much do you suppose that will cost? Still have a few million to go, so I would realize my dream of being a small business owner and start up a small candle and soap shop.

Damn, I want that money.

6

[QUOTE]
*Originally posted by ShibbOleth *
Do you spend it all on something(s), give it away, throw it in the bank, become a Beverly Hillbilly, buy an island, what?

[QUOTE]

Emphasis mine.

Give it away? You’ve just beaten some incredible odds. I think its safe to say I won’t be giving it away. At least not until I’ve had a good, long time with it.

That said, I’d buy all the cars I’ve wanted since I was a kid, several high priced mansions in some fantastic locales and a bunch of other great stuff. In the grand scheme of things, though, 100M is not as much as it seems when you think about how expensive some mansions are and how much of that 100M ends up getting taxed again and again. I suppose it would be interesting to buy yourself a majority share in a good company.

7

First, I take the cash option. Before I claim the prize, I consult a tax lawyer and a financial planner, so I can set up to have income for the rest of my life and never have to work again.

Then, all debt belonging to me and my immediate family is paid off. After that, I’d travel. What better way to avoid all the new “friends” you’d get than by leaving the country and wandering the world for a while. First stop would be the UK, followed by whatever countries I have a mind to visit. When I got tired of travel, I’d buy a small house out in rural New England, and do whatever the hell I felt like, all the freakin’ time. :smiley:

8

I’d buy the Chicago Reader. Then I’d log on here and say all kinds of nasty stuff to people.

Then I’d just sit there and smile.

9

I’d probably play Powerball if they had it here, but they don’t and I’m not dumb enough to make multi-hour trips to stand in line somewhere that does. But if I was and I won…

First off, I’d give 10% off the top ($16.29M, according to the OP) to charitable causes–not a religious thing, just something I’ve always intended to do if I ever got ahold of a large sum of money. Figuring the remainder at .6 after taxes, that leaves $88M and change.

Paying off debts, buying up several hundred acres of land I want and making certain improvements, distributing greater and lesser amounts to family members and friends, and sending in some nice contributions to my personal causes–I’ll budget $20M for this, leaving $68M.

$15M goes to publishing and promoting my novel–I wouldn’t need to make money on it, but I do want people to read it. That leaves $53M

$2M goes for buying stuff and pissing away in general–I have no idea on what. That leaves $51M.

$50M goes into investments–they can be nice and conservative, and still bring in more money each year than I’d know what to do with.

The remaining $1M is budgeted for my suit against CnoteChris after he slanders me on the boards.

10

The Ultimate Dopefest… What else???

11

First I’d donate 2 mil or so to the DNC. Hey, if Republicans want to kill McCain-Feingold/Shays-Meehan they’ll pay. Then I’ll say I’ll donate another 3 mil the next time they kill it. A nice way to get campaign finance reform I’d say. Then I’d donate 15 mil to various charities. I’ve got a pre-law, a high school senior, a 6th grader and a 2-year-old, so I’ll put 1.5 mil aside for college expenses, because they just keep going up. Then, I’ll buy this house next to the golf course I really like. It’s new and I get free membership if I buy it. That’ll set me back about 2 mil, and to furnish it might be about half a million. I’d then build a beach house and buy a boat on Martha’s Vineyard, another million. Neither Mrs. gorewonfla or I really likes to travel that much, so no European vacation, but I bet the kids would love a trip to Disney World. With my remaining money I’d put some aside for future expenses and trust funds for my kids. With the rest, I’d try to get a group of investors together that’d bring the Hartford Whalers back to town. CT is a powerball state, so I’ve got 17 tickets (I gave a 20 to the cashier for a gallon of milk and got that plus 71 cents in change). Watch out for a return of the Whale!

12

Mr. S. and I are pretty much agreed that once we’d paid off our debts, set up a steady income from the pot, gotten one decent car apiece, and bought a few houses and cars for friends who need/deserve them, we’d go about changing lives. Setting up scholarships named after departed friends and family. Funding the arts. Fixing up historic buildings. That sort of thing.

Anyone who thinks they can spend that kind of dough all on themselves and their friends/family and still remain a sane human . . . isn’t, IMO. There’s a big responsibility that goes with winning a pot like that. How could you not use at least some of it to help make the world a little bit better?

13

I’d do two women at the same time.

(“Office Space”)

14

I’d save most of it, but would splurge on a three week trip to Bora Bora.

15

My mom is a financial advisor, so I’d give it to her. Let her go nuts. :slight_smile:
I’d buy houses and cars for friends and family, and make sure all my younger cousins and my little brothers can go to college. I’d also put a few of my friends’ kids through school.
I’d also help some friends and family pay off debt, and just give some cash gifts for the hell of it.
I’d buy a house on Kauai, and a place in San Francisco.
I’d have a few babies after seeing the world. :slight_smile:

16

I’d keep 10 percent for myself. I could live very well on just interest. So I’d buy my grandmothers house from her, so that when she dies I could live there. Not a fancy neighborhood but I can’t bear the thought of anyone living in the home she has hadsince 1942. I’d travel. I’d go to my favorite bookstores with a shopping cart. And I would buy all the neat kitchen gadgets from those gourmet stores. I would have a BIG party for family and friends, and Dopers would be welcome. And my nephews would be able to go to any college they wanted, but they wouldn’t know about it until they were ready, as I don’t want them to slack off thinking they had a free ride. I’d be able to help pay off the capital fund drive at my church too.

With the other 90 percent I would set up a charitable foundation. There would be a nursing scholarship in my mother’s name. I saw a story on PBS once about surgeons who donate time and expertise to correct serious physical deformities of people in poor countries, that would get help. Trustees could handle most of it, but I’d like to have a hand in it. Libraries, I like libraries.

And(now this is just a mean little dream of mine, since I live in the same town Fred Phelps does) I’d let him know that each time I saw him picket a house of worship I’d donate said place $100.(His place would not be included!)

17

I would form a personal militia, and we would go to the southern border of the U.S. and defend against the Mexican Invaders.
I would also found a private school which would teach constitution principles.

18

I’d donate a chunk to my old Univ. but insist they use it to build a monorail to connect the two campuses. And they have to make it polka-dotted

Biannual trips to Bora Bora (thanks Kbean for the reminder)

Ferrari 360 Spider

Big garage…maybe a house with it

Ruffian just poked me in the shoulder and reminded me we need a big ranch for old racehorses and such. I think there’s some inner-city kids tie in with the ranch, too. Horse camp, I guess.

Houses for my family in Santa Cruz county…they used to all live there but moved away

Pipe organ for my old church in San Diego. And a huge music budget for them…I really liked my music director there.

NEW INSTRUMENTS for my students. Our school has crap in the way of insts. (Side note: anyone got a tuba they want to donate to a nice middle school?)

New park for Covina. There’s a big lot that’s abandoned now…needs trees, grass, and a carousel

Half way house for homeless folks (not that I’m altruistic…I’m just tired of being hassled for change while walking Colorado Blvd.)

The Firm. A secret company devoted to technological innovations…but for good. You know, clean air, water, cold fusion, etc.

The Bad Firm. A secret company devoted to ruining the careers of fakes and lame-o’s (there go half the politians)

Habitat for Humanity. A few more houses.

And finally…the tunes. I’d hire great musicians and producers and we’d spend hours and hours making and recording music that was interesting to us.

Of course by this point I’m probably 100 Mil or so in the hole, but what the heck. It was fun.

19

With in the lines of Whammo, get a lawyer first…make sure he’s a friend of the family so he doesn’t screw you over.

Invest, invest, invest.

Put some towards my friends and family that need help.

< as you have guessed I have thought this through >

My best friend would recieve a 5 bedroom house, tax free for two years – after that it’s her house and she has to pay the damn taxes ;). Her kids would have a trust fund (she has a new baby now so that would include a college fund for her daughter.) She would also get a Toyota Land Cruiser – it’s rated the safest SUV out there, so I hear.

I would buy a house in Denver – a BIG fuckin house, er I would build one from the ground up. Throw one HELL of a party and all my Doper, Fathom and Unanoids would all be invited…probably hire a few bands, well okay maybe not I am not that wacky, before I moved in so if I had to replace carpet and shit, I could…then move in and enjoy my life as a financially wealthy person pushing for the emotionally wealthy person I have always strived to be. :wink:

I would also donate to several charities, including a homeless charity, cancer charity and to Children’s Hospital in Denver.

Oh and BTW, my investments would include trust funds for the charities I select. As tax free as possible so they can reap the benefits year after year.

20

First off, a finanacial advisor to figure out how to invest 50 million.

A house for me and the family, one for my mom, one for the wifes mom, pay off all my bills, all my moms bills, all my friends bills, my girlfriends bills, etc.

Establish a non-profit trust to support low income kids through college.

Trust funds for my kids, my mom and my brother for school. An additional trust fund available to my kids only after getting a college degree.

Fun stuff: My house would have a huge gym, and I would train Choy Li Fut six days a week for about 2 years…

2 million would go into creating “Critical Velocity Inc.”, an import racing company. I’ve got my driver picked out, he goes away for training, and hit the NIRA circuit.

Get me 2 cars… a Lexus for everyday cruising and a Twin Turbo Supra (93) with a JDM motor… Mmmmmm…

Beyond that, throw my damn Sac Dopefest, with paid transport for outlying dopers and several other huge parties!