A friend of mine once said " if I won $300 million I'd tell my wife I won the lottery....for ten million."
OT; Thought exercise.... The lottery is up to $300 Million. What would you do with it if you win?
- Thread starter The Spin Meister
- Start date
A friend of mine once said " if I won $300 million I'd tell my wife I won the lottery....for ten million."
I would make sure a substantial portion of college tuition for every graduate of my high school alma mater was paid for in the foreseeable future. Additionally, random acts of paying for things for strangers.
After that....I'd keep working, buy a mountain property that's off the grid where I can build a custom home. To fund all of this into the future, I'd also build a real estate empire.
After that....I'd keep working, buy a mountain property that's off the grid where I can build a custom home. To fund all of this into the future, I'd also build a real estate empire.
If you were "off the grid" , we wouldn't be able to enjoy your " wisdom". Apparently you haven't thought through this dream
Most of us tend to think we would be better a managing a fortune than others who have tried and failed. Just like most things in life we have never experienced, we don't really know until we face the reality. I am sure the pressure from family and friends is enormous. That's why I think every lottery should have an option to take the prize anonymously by taking a reduced prize (say 20% less). I would much rather take 40 million anonymously than 50 million publicly.
I have always thought that if you could convince the lottery people that you would take less if they kept you anonymous, that it would be MORE than worth it. It would definitely be worth $10,000,000 for no one else to know.
Wow! You just saved me $100,000, fairgambit. I hereby promise that if I win the $300 million lottery I will split the $100K with you.
If you were "off the grid" , we wouldn't be able to enjoy your " wisdom". Apparently you haven't thought through this dream
I'd hire you to clean my pool. I'd invite you for coffee too.
Off the grid to me means self-sufficient. I'd have electricity generated on site that you'd use to make my coffee and clean my pool.
How are you going to keep that much money a secret from your family. You quit your job and buy a 1000 acre ranch in Montana and the in laws are gonna wonder why...
It is my understanding that if a legal entity collects the winnings, the PA Lottery will release the names of the shareholders, partners, etc.
They would likely know I had come into a large amount of money as I would share it, but they don't need to know the source (inheritance, asset sale, lottery) or the amount. I would much rather have my friends and in-laws think I am sitting on 5 million than 50. Beyond that, it would help from a security standpoint as to outsiders wanting a part of the action. I knew a guy that won 100K about 10 years ago and he got calls from a half dozen people he barely knew within a week of it appearing in the local paper.
Six states allow winners to remain anonymous: Delaware, Kansas, North Dakota, Ohio, South Carolina, and Maryland. I'm glad I live in Maryland.
When I win this thing Jim, I'll come to you and we'll work out a deal.
Semi-serious answer:
In the Anthracite coal region where I grew up, blighted properties are rampant. I would sprinkle $ enough to bulldoze a lot of the blight, with $85 MM clear, I think it would be a God-send. I know coal is never coming back but maybe the people who still work and maintain their properties would still be able to sell them for something close to what they're worth. I would try and set up auditors who could keep an eye on the crooks in local govt so that the money would either go to dozers/reclamation or for legal funds to fight absentee landlords who are delinquent on taxes/sewer, etc. Once a few towns heard about this, I would then have to bail because it is a fantasy that would never work but this whole topic is about fantasy, so whatever. I can't save the world on $85 MM.
In the Anthracite coal region where I grew up, blighted properties are rampant. I would sprinkle $ enough to bulldoze a lot of the blight, with $85 MM clear, I think it would be a God-send. I know coal is never coming back but maybe the people who still work and maintain their properties would still be able to sell them for something close to what they're worth. I would try and set up auditors who could keep an eye on the crooks in local govt so that the money would either go to dozers/reclamation or for legal funds to fight absentee landlords who are delinquent on taxes/sewer, etc. Once a few towns heard about this, I would then have to bail because it is a fantasy that would never work but this whole topic is about fantasy, so whatever. I can't save the world on $85 MM.
Living in Western PA, there are a lot of towns like that and your answer is a good one. McKees Rocks, which is just minutes from downtown Pittsburgh, has come upon hard times. It was once a vibrant community. I often thought, given it's proximity to Pgh, someone with enough money could buy up the entire main street of the town, fix or demolish the existing buildings, and make it into some type of artists community,high tech area, etc. I guess, though, you're right. 85 million only takes you so far.
Wow, some great ideas guys....I'll try a few different ones but really like some (much) of the stuff already mentioned.....including hanging around with 'ro and some of his girlfriends.
The first thing I'd do is update my will and all other legal docs.
Take care of my brother and his three kids by setting up an immediate annuity for him and deferred annuities for the kids.
Donate to my favorite charities, including the Western Golf Association - Evans Scholars, Guardian Angel Basset Rescue and Thon.
Arrange for nice vacations for several long time friends, neighbors, bridge and/or golf buddies and their wives. Probably about ten different couples.
Go to a world class golf school, get fitted and buy a winter home at The Residence Club at PGA WEST in La Quinta, CA. Buy the new Buick convertible coming out this spring to go with it.
Obviously buy season tickets for PSU football and KU basketball.
Arrange for weekly shipments from The Creamery.
Hire a personal trainer.
Hire a weekly maid service.
Finish my basement.
Get Fonzie (my basset hound puppy) a baby brother or sister.
AND
Maybe subscribe to the premium Board......nah, no way!
The first thing I'd do is update my will and all other legal docs.
Take care of my brother and his three kids by setting up an immediate annuity for him and deferred annuities for the kids.
Donate to my favorite charities, including the Western Golf Association - Evans Scholars, Guardian Angel Basset Rescue and Thon.
Arrange for nice vacations for several long time friends, neighbors, bridge and/or golf buddies and their wives. Probably about ten different couples.
Go to a world class golf school, get fitted and buy a winter home at The Residence Club at PGA WEST in La Quinta, CA. Buy the new Buick convertible coming out this spring to go with it.
Obviously buy season tickets for PSU football and KU basketball.
Arrange for weekly shipments from The Creamery.
Hire a personal trainer.
Hire a weekly maid service.
Finish my basement.
Get Fonzie (my basset hound puppy) a baby brother or sister.
AND
Maybe subscribe to the premium Board......nah, no way!
I am neither a personal trainer or a maid, but I could learn!
HA - You're already covered in paragraph #5's stand-by list!
If you were "off the grid" , we wouldn't be able to enjoy your " wisdom". Apparently you haven't thought through this dream
Shh...
Tell them something both believable and respectable, like you robbed a bank.
Yeah, because that is exactly what Fonzie wants, and not his own little harem of bitches.
It's like I tell the panhandlers that look around in my truck for change when I sit in traffic...
If you have the balls to ask someone for money, you have the balls to blow it.
I'm more inclined to give a person money that is embarrassed about their situation.
Family or not... If they have to ask me for the money, they will promptly be told to pound sand. My inner circle is really, really small so I wouldnt really have much to worry about.
If you have the balls to ask someone for money, you have the balls to blow it.
I'm more inclined to give a person money that is embarrassed about their situation.
Family or not... If they have to ask me for the money, they will promptly be told to pound sand. My inner circle is really, really small so I wouldnt really have much to worry about.
Id take at least half of the winnings post taxes and see about some trusted financial guru setting up a foundation type thing where money earned off the accounts would be used for charities each year- church, tuition reduction for my old grade and high schools for those in need, help with college scholarships if possible, and something for charities that deal with immediate need and those with learning disabilities (who tend to get pushed through schools and then dumped at age 18 with few prospects or marketable skills).
There are a ton of charities but I think focusing on kids getting help with an education not only helps them now but in the future in terms of improving job opportunities and breaking some cycle of poverty you see sometimes. In that way it's the gift that keeps on giving and if in a foundation type arrangement it's not just a 1 time spending spree but something that can hopefully continue in perpetuity.
I guess I fall into the 'give a man a fish and you feed him for a day. Teach him to fish and you feed him for a lifetime' camp.
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Got a story to share? I've flown a lot of international coach fare flights this year.
Buy land in Montana - with a small, rounded mountain that's not too tree-covered. Set up my own ski runs with a diesel-powered tow rope.
Give to charities supporting abused women and children, respite time for over-stressed parents of kids with special needs, adult care facilities for those with special needs so they can live in safety and with dignity
Send my mom and her bridge partners of almost 50 years on a private plane to St Nevis for 2 weeks where they can gossip and play bridge to their hearts' content.
Travel a lot
Become a big-time booster for Penn State Sports, especially wrestling - make the Nittany Lion Wrestling Club THE place for our Olympians.
Oh, and 2 chicks at the same time
Give to charities supporting abused women and children, respite time for over-stressed parents of kids with special needs, adult care facilities for those with special needs so they can live in safety and with dignity
Send my mom and her bridge partners of almost 50 years on a private plane to St Nevis for 2 weeks where they can gossip and play bridge to their hearts' content.
Travel a lot
Become a big-time booster for Penn State Sports, especially wrestling - make the Nittany Lion Wrestling Club THE place for our Olympians.
Oh, and 2 chicks at the same time
