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OT; Thought exercise.... The lottery is up to $300 Million. What would you do with it if you win?

The Spin Meister

The Spin Meister

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Nov 27, 2012
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An altered state
You take the cash option (duhhhh) for $150 Million. Then pay taxes leaving about $85 million. Buy a home on the beach/tropical island, one in the mountains. Share a few million with friends and relatives, maybe a yacht/airplane for a mil. Give 10% to the church and/or charities. What do you do with the remaining $65-70 million?

Set up a charity of your own? Invest in some new technology that will change the world? Finance/buy off your favorite politician? Donate to Penn State? Fund specific medical research?
 
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I would buy myself a $300 Amazon gift card and then give the remaining ~$140 million to the Bill Gates Foundation. That is what I would do if I won the lottery.
 
I'd start mentorship program for veterans and troubled youth oriented around the outdoors. I'd set up a special kennel for unwanted hunting dogs. I'd learn to fly and buy my own small plane/helicopter. I'd buy my own island in Alaska and make it my permanent residence for tax purposes. I'd also buy a large chunk of land in Montana, and my own island in the southeast somewhere (Florida Keys?). I guess I'd have a small boat in Alaska and the Keys. Edit: I may also buy land in Patagonia and/or New Zealand south island. I do think that I'd invest in (but not work in) some alternate energy technology companies and be a big customer. All houses would be self sufficient energy wise.

I'm guessing that I could do the three houses for 20MM. Maybe 10 Million to fund the two charities. The plane and two boats would be less than a million total. That would leave 55MM for me to live off of.

I'd also let me wife retire a little earlier than planned... maybe at 63.
 
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The Spin Meister said:
You take the cash option (duhhhh) for $150 Million. Then pay taxes leaving about $85 million. Buy a home on the beach/tropical island, one in the mountains. Share a few million with friends and relatives, maybe a yacht/airplane for a mil. Give 10% to the church and/or charities. What do you do with the remaining $65-70 million?
Set up a charity of your own? Invest in some new technology that will change the world? Finance/buy off your favorite politician? Donate to Penn State? Fund specific medical research?
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I would give every one of my BWI friends $100,000 as I know they will do the same if they win. Don't worry about whether you're on my list. If I don't post for a while, and you get a certified letter from fairgambit, you'll know.
 
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paulrandythomas said:
Two chicks at the same time
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Beat me to it, but because I already pulled the gifs:

2-023.gif

tumblr_mi8k9mfv2M1rmm419o1_400.gif
 
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The Spin Meister said:
You take the cash option (duhhhh) for $150 Million. Then pay taxes leaving about $85 million. Buy a home on the beach/tropical island, one in the mountains. Share a few million with friends and relatives, maybe a yacht/airplane for a mil. Give 10% to the church and/or charities. What do you do with the remaining $65-70 million?

Set up a charity of your own? Invest in some new technology that will change the world? Finance/buy off your favorite politician? Donate to Penn State? Fund specific medical research?
Click to expand...
I would hand out $100 bills for how ever long it takes to get rid of it. Screw the corrupt charities.
 
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I'd take the entire $85 million (after cash option and taxes) and sink it into Berkshire Hathaway stock. That would give me ~13% a year return in the long run = ~$7 million a year after taxes.

That's more than enough "play around" money to be active in charity, buy luxury boxes for Penn State and Eagles games.

I like the Patagonia and Montana ranch ideas. Maybe I'd feel safer stateside with that kind of cake in the bank. One would be a huge target in rural South America with that kind of wealth.
 
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New kitchen, for sure. Pay off house, get vacation home, doesn't have to be fancy. I'm not really a car person but I definitely would lease a Ferrari for a couple months at least. (I once sat in one at the Washington Auto Show, we truly belonged together.)
 
- Set the next generation in our extended family up for success by funding college tuition for my kids and my nieces and nephews (30-35 in all? Huge family)
- Get my parents out of debt and let them retire in style, they've more than earned it.
- Give my wife a modest annual salary and let her quit her "other" job (she will work for me now).
- invest a portion for my own eventual retirement
- Fund various charitable foundations and grants, plus I would like to be one of those anonymous donors who see and meet local needs whether it be badly needed local social projects or people in need. The fewer people who know about this windfall the better (i dont think you can win anonymously in PA)
- I don't need much to be happy, i'd splurge on the following personal items for myself: A new truck, A really nice camera and lens upgrade (it's a hobby), and Penn State f-ball tickets for life.
- Oh one last thing, I'd like a mountain retreat where the family can go to "get away from it all" and spend time together.

Plenty of money left over after this... Will reserve the rest for better ideas. :)
 
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LemonEars said:
I would buy myself a $300 Amazon gift card and then give the remaining ~$140 million to the Bill Gates Foundation. That is what I would do if I won the lottery.
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One other use of the money comes to mind: I would set aside about $100K to clean the layer of soot off the Cathedral of Learning in Pittsburgh. It hasn't been cleaned in decades and is disgustingly dirty. If it was cleaned it would be less of an eyesore than it currently is. A better idea would be to tear it down and plant grass but that would cost too much.
 
Well Dan....I have a measley 10 acres...you are more than welcome. hardly near the size of the spread you are going to buy....
 
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I honestly don't think I'd enjoy winning, so I don't play. It'd be too much of a pain in the ass to have people come out of the woodwork asking or taking, and having it isn't the same as earning it. Yes, I'm well aware that I'm an outlier.
 
Bye some remote northern land and install some wind turbines. Get some more income going. Maybe try and decide on a few businesses ideas.
 
PSU Mike said:
I honestly don't think I'd enjoy winning, so I don't play. It'd be too much of a pain in the ass to have people come out of the woodwork asking or taking, and having it isn't the same as earning it. Yes, I'm well aware that I'm an outlier.
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Depends, some charities are worthy causes. If it bothers you too much just change your phone number.
 
I'd create a shell game of trusts so it would be untraceable.

I'd have the money wired into my shell account.

I'd put $10m into an untraceable, off-shore account (cayman islands or Swiss).

I'd buy a nice house someplace (Mexican Pacific Coast) and upgrade the one I have here.

I'd get my pilot's license and get a jet that could take me to and from without stopping.

I'd go into politics, kind of pull a Kathleen Kane. I'd pull the plug on EVERYBODY.

I'd get a suite at the Beav with large lot for my new camper. Plus, invest in an awesome grill.

The rest I'd give to the wife.

By the way, you can do the three-some thing in the pacific rim for $50 US.
 
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I would buy a 20 Tesla (that's ~500,000 times the earth's magnetic field) superconducting magnet with a microKelvin -capable dilution refrigerator for my lab. I would then buy a bunch of illuminated works by William Blake. Then perhaps I would tell my wife.
 
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Any one see the documentary, Lucky?
It's about lottery winners and their lives after winning. One guy lives in a motel feeds stray cats and goes to gentlemen's clubs. One family is basically driven from their house by jealous "friends" and neighbors. Another lost all his mostly to lawyers fighting his brother who he had promised some money. I think was from PA.
 
phillybillyreprise said:
Any one see the documentary, Lucky?
It's about lottery winners and their lives after winning. One guy lives in a motel feeds stray cats and goes to gentlemen's clubs. One family is basically driven from their house by jealous "friends" and neighbors. Another lost all his mostly to lawyers fighting his brother who he had promised some money. I think was from PA.
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Some people just shouldn't be trusted with money...that includes PSU's BOT
 
LemonEars said:
One other use of the money comes to mind: I would set aside about $100K to clean the layer of soot off the Cathedral of Learning in Pittsburgh. It hasn't been cleaned in decades and is disgustingly dirty. If it was cleaned it would be less of an eyesore than it currently is. A better idea would be to tear it down and plant grass but that would cost too much.
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I'd attach some solid rocket boosters to the sides and blast that thing into a black hole. For science of course.
 
LemonEars said:
One other use of the money comes to mind: I would set aside about $100K to clean the layer of soot off the Cathedral of Learning in Pittsburgh. It hasn't been cleaned in decades and is disgustingly dirty. If it was cleaned it would be less of an eyesore than it currently is. A better idea would be to tear it down and plant grass but that would cost too much.
Click to expand...
Sorry LemonEars. That's not accurate. It was cleaned in 2007. Before, and after photos, below. I know a guy who worked on the project and they did a terrific job.
Cathedral_of_Learning_02.jpg


Cathedral2012.JPG
 
phillybillyreprise said:
Any one see the documentary, Lucky?
It's about lottery winners and their lives after winning. One guy lives in a motel feeds stray cats and goes to gentlemen's clubs. One family is basically driven from their house by jealous "friends" and neighbors. Another lost all his mostly to lawyers fighting his brother who he had promised some money. I think was from PA.
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A 16 year old girl won a few million in England, She spent it all within 4-5 years, and said she wished she never won. I think the guy who lives in motels probably is living out a dream of some sorts, assuming a woman comes home with him once in awhile.
 
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