Winning the Lottery

Both the Powerball and Mega Millions are at ridiculously high jackpots right now. High enough that when I was out picking up books and DVDs from the library yesterday I bought one of each. I’ve written before about what I would do if I won the lottery. I decided to once again revisit my list to see what has changed. I will skip the dumb first steps I had listed before and assume it is obvious that I would sign the ticket and have my wife, the CPA, manage the money.

  1. Claim the money quick because I would be afraid I would lose the ticket – this is still the same. I would be filled with anxiety until I actually claimed the money. Even if the ticket was in a safe place I would still constantly go to the worst case scenario. I don’t know how people wait so long to clam the money.
  2. Remain Anonymous – My state is one of the state where you an remain anonymous. I would definitely do this. I would not want to deal with what comes with everyone knowing you have won millions of dollars. I’m sure family and “friends” would all find a reason to “reconnect” after the announcement.
  3. Never Have a Job Again – This one was “quit my job”. I’ve already done that. The money would mean I wouldn’t have to worry about eventually finding a new job. I could instead focus on finding volunteer opportunities and places to do good. This also helps with #2 as I would not suspiciously quit my job after someone won the lottery.
  4. Trust Funds for the Kids – I would want to set it up in a way that encourages them to still be productive members of society. I don’t think my kids would become lazy rich people if they had a lot of money. That’s my job. I just wouldn’t want to encourage any thoughts of quitting school or jobs because of the money.
  5. Help Family – I would probably want to give my siblings enough that they would never have to worry about money again. I’m such a nice person.
  6. Car? – I had a better car on the list before, but now I’m not sure I would buy one. My car is fine and gets me where I need to be. I would buy my daughter a better car. The rest of us have relatively new ones. I would be tempted to hire a car to take me places. I don’t really enjoy driving.
  7. House Stuff – I don’t feel the need to have a mansion. I would just fix some things I don’t like about the current house. I would make the basement a much more pleasant place. Add a bar. Buy a giant TV and nice furniture. Make it the place we would use whenever we can have guests again.
  8. Second House – On new addition to the list is a second house somewhere warm. This January in isolation would be a lot easier if I was doing it at a house with a private beach area.
  9. Eventually Travel in Style – I really miss travel. I can’t wait until I can do it again. With millions I would upgrade to first class on long flights. I would take a train trip across the country. No reason to buy a mansion if I want to be on the go a lot.
  10. Splurge Responsibly – Fancy dinners. Spontaneous nights at fancy hotels. Last minute trips. The freedom and means to buy or do something just for fun.
  11. Charity – I would donate to charities once I made sure the money was being used properly.

It’s nice to dream about this. In a couple of days I will be a loser and will go back to the real world.

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I Want to Be a Billionaire Take 2

 

A couple of years ago when lottery fever was high, I wrote a post about what I would do with the money if I won. Today, I revisit the list below.

  1. Sign the ticket – still a good first step.
  2. Hire my accountant/wife as my financial advisor(although she is sometimes surprisingly bad at math) – I guess I would still use her, but I would also find a good lawyer as well.
  3. Claim the money quick because I would be afraid I would lose the ticket. – Same. I wouldn’t want to wait to long because who knows what could happen.
  4. Remain anonymous – I’m pretty sure this is still an option in Maryland. If so, I would still remain anonymous. I don’t need everyone to know I’m wealthy.
  5. Quit my job – I would do this, but not right away so people wouldn’t realize I won. I would work for a little while longer and then find a time when it was particularly annoying and quit in a spectacular fashion.
  6. Set up trust funds for the kids – Same, but would make it so they didn’t get it until they graduated college
  7. Pay off the debts of my family members – I guess I would still be nice to my family
  8. Buy my mom a house – Unfortunately, no longer an option.
  9. Buy a better car, but not an extravagant car – I like the car I have now, but I would probably still upgrade.
  10. Remodel my basement to make it nicer for social events/man cave – Now that the kids are away at college, I would probably lobby for a new house away from the suburbs. Maybe move in to the Obama’s neighborhood in DC.
  11. Enjoy life – As much as a grumpy old man can.
  12. Travel a lot and in first class – Same. I love to travel and the money would make it easier and more comfortable.
  13. Splurge responsibly – Maybe not so responsibly.

I don’t know why I didn’t add charities to that list. I would give money to my church and other worthy charities. I was very greedy when I wrote this list. I also mentioned at the end the possibility of hiring a driver. That is still on the table. I hate to drive.

I Wanna Be a Billionaire

There has been a lot of talk at work today about the lottery and what we would do with the money. I told people I was going to buy the Playboy Mansion and live with Hugh for a while, but I wouldn’t really do that. Here is what I say I would actually do if I won the lottery:

  1. Sign the ticket
  2. Hire my accountant/wife as my financial advisor(although she is sometimes surprisingly bad at math)
  3. Claim the money quick because I would be afraid I would lose the ticket.
  4. Remain anonymous
  5. Quit my job
  6. Set up trust funds for the kids
  7. Pay off the debts of my family members
  8. Buy my mom a house
  9. Buy a better car, but not an extravagant car
  10. Remodel my basement to make it nicer for social events/man cave
  11. Enjoy life
  12. Travel a lot and in first class
  13. Splurge responsibly

I would like to think I would stick to this and not make ridiculous purchases, but who knows how crazy millions of dollars might make me. There is still a part of me that would want to use the money to buy a stake in a professional sports team. Someone would need to talk me down from that. I would also be tempted to hire a car service to drive me everywhere because I hate driving. I guess I could just Uber.

Of course, I will be lucky if I win $4. If I won $4, I would go blow it all at Krispy Kreme. I’m a wild man.