67 million… um… OK. @Jeff-A1
Kinda fun to think about. Still trying to shake that image…
2 weeks notice (in case I want to go back to work after I get things going)
Tell no one off the bat except my best friend. Family to follow after their mortgages mysterious disappear.
In the mean time. My friend will quit his job, and work for me with his first task of helping me find a large piece of property suitable for multiple homes, shops, and business buildings to be built for the company he wants to start.
From there, mass real estate for rentals and more, true affordable housing where CHL holders and public servants recieve discounted rates.
Fully sponsor my paintball team, and one thing besides competing with Dragon Mans collection, constructing a public accessible massive shop with automotive techs, machinists, welders, etc where you can do it yourself, learn a skill, or cost of parts and less for those in need services…
To that nature…
I bet I could make such a sum disappear in 5-10 years building it all but that’s why a ton of real estate and starting businesses to provide income after everything is built to continue on in a smaller sense…
I would buy a nice piece of land somewhere to build our house. We would also start a nonprofit organization that helps formerly incarcerated men & trafficked women get training/education as they prepare to re-enter society. A life spent not working for others but serving others.
As far as leisure, I would become a firearms instructor & go to every firearms convention I could.
And one day perhaps, I’d run for some position in local government (I’d probably lose but I went for it).
They’ll know I’m not coming back after the long, Smokey burnout in the numbers matching 69 GTO Judge I bought with my lottery winnings, as I leave the parking lot at work.
I only visit my company office/warehouse twice a month for a couple hours… Company van I park at home every night…
This would be the dream vehicle for me…
Oh, the usual. Pay off debts, upgrade vehicles, buy the few acres next door, build a couple shop buildings and outfit them.
Mostly I would set up a foundation to encourage young people to learn skilled trades and help them with funding, etc, maybe partnering with Mike Rowe and his outfit.etc
Maybe set up a gun store/range locally, one focussed on safe handling and self defense training. Also make it a center for 2A advocacy. Run it to be just profitable enough to pay for itself since I won’t need the income.
Payouts like that usually end up with multiple winners… so lets say there are 3 winners, thats about $57 million each. Then there’s Fed tax… let’s say 33% makes it $37.5 million (if took in one lump some). Then there’s state or local tax depending on where you live (5% in my area), so that leaves about $34.77 million.
- Pay off any debt over 3%…
- Invest the remainder into diverse investments that net 5%+. This should amount to around $1.73million pretax/year, which lets say becomes $1 million/year assuming limited tax deductions.
- Refinance mortgages at or below 3% (at least if mortgage interest is still tax deductible and 5%/year return on investments is realized)
This should reorganize finances leading to the second stage, where I would plan reinvestment, investment, business opportunites, lifestyle change choices, locations, medical options, necssary maintenance and repairs on property/vehicle/medical procedures (including family needs), etc., based on the $1.73 million/year pretax income. I would try to reinvest a “cost of living/inflation increase” into the original $34.77 million so that the interest payments would increase over time.
For the record, once this yearly income was established, I would give 10%/year to charities. Right now it’s about 5%.
Also a side note… A friend of a friend had built an $8+ million house in a nice area before the housing collapse. He paid around $365,000 per year in property tax. With the new tax code only allowing $10,000 of local property tax deductable from Federal income tax, houses/condos in areas that greatly exceed this maximum deduction would definitely be off the list.
Not that I have spent much time thinking about this Nice distraction from the shenanigans that are going on in DC and Richmond.
I keep a spreadsheet updated with the latest figures. If anyone wants a copy, just drop me an email and I will send you a copy. All the formulas are inserted but it is an Excel Worksheet. Sorry for the number of edits…brain not functioning this early.
Heck yeah I’ll play in the spreadsheet!
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Where would you live and why? -
I would live right where I am at for now. At least until family and others harass me too much for money, then maybe I would need to move someplace else. I would travel since the wife has a list a mile long. I think she wants a new purse too. Other than that we really don’t need anything and I would not know what to do in a big mansion anyway. -
What would you do to fill your days?
The interest alone on a lottery winning would add up to a substantial amount accrual every month. So, I would find 3 or 4 other people that share my views and form a group which spent each day searching for worthy causes or people to help out.
Example of an institution is Hillsdale college that doesn’t take any government money and I believe doesn’t produce any snowflakes, even though Michigan can get pretty cold in the winter.
I would also look for news articles where some kid was expelled for wearing a gun shirt or some other totally stupid reason the schools expel kids for. Then contact them and send the whole family to Disney World for a week. If the kid has to take 3 days off, I would let the school know they might as well take a week. Send the whole family on a nice vacation.
Back causes that improve the country. In other words start rewarding good behavior instead of our society always rewarding bad behavior.
- What legacy would you leave? - Not really interested in a legacy, just do as much of the donations behind the scene or anonymous as I can. Set up a company that can keeps this going after I am gone.
What you suggest would leave a very positive legacy @Robert15. Great ideas! Legacy isn’t about recognition in this life. More about keeping a spark of hope kindled. No granite monuments or being on the cover of Time magazine. Passing on freedom and liberty to the next generation? We can do that without deep pockets. Passing along a kind word, stopping to help a neighbor, or teaching young’uns to read a good book.
After having the worst year I have had in 30 years…
I would continue living in the Gunshine state, maybe invest in a second home in the mountains as well.
I would take all my favorite qualities from the ranges I have worked at and implement them in my own indoor (maybe expand to outdoor as well) range. EVERY employee would be made to watch (multiple times) Roadhouse Patrick Swayze scene on responding to customers to “Be Nice” no matter what situation occurs.
I would have this range as my legacy where everyone who enters would be shooter friendly and have a healthy sports minded attitude. (Or atleast I would hope for this)
Merry Christmas everyone. Powerball is 625 mil I believe. Let’s hope a deserving person wins this
@Paula1 I’m very glad you could join us. Welcome aboard and thank you for sharing your thoughts. An indoor range would be sweet! Powerball is $183m for Christmas Day. That would be a big stocking stuffer. Besides dreaming about being stuck behind snowbirds in my new 911 and patiently waiting it out, I also think about sharing the birth of a foal with my grandkids. Catching a cutthroat in the creek out back…
think I would like to try to set up a community of like minded individuals somewhere in a pro2nd state
@OldDude49 I like the thought of not dealing with traffic everyday. The ornery streak in me would be to fund @Michael7 on the condition he would build his retreat next to Michael Bloomberg’s home in the Bahamas.
Jeff if you find it I’ll build it anywhere you want.
I would donate half to various causes, set up a collage fund for my nieces and nephew then:
I would live in the mountains of various states depending on the time of year. Reason- the sheer beauty of nature and just being out there is calming. To fill my days-I would hike, swim in the rivers and travel to other locations. Legacy- I don’t know about leaving a legacy. Maybe treat people kinder, slow down and enjoy life because you only get one and do your part in making the world a better place.
The mountains have a place in my heart, also. To me, legacy isn’t an edifice. Not the number of toys you collect, or a zip code. Maybe teaching a child the meaning of honesty by word and deed. I would still like a Porche 911 but I can also live without it I drive a Wrangler because I can wave at strangers just because it’s a Jeep thing.
Jeff