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In reply to the discussion: If you won $600 million, what would you do? [View all]quakerboy
(14,911 posts)Call a lawyer. A good one.
Then, most likely, take it in a lump sum, and get only about 300 million. Pay about half in taxes, so 150 million actually makes it to me.
Marvel at the fact that while I am now the richest person I have ever personally known, each of the Koch brothers has exponentially more, and has in fact *given away* more than my total worth.
3 million would get blown on personal projects. Paying off student loans for me and mine(and prepaying education expenses for the younger). Paying off my mortgage, and those of certain others. Some travel. a trained pet squirrel. Health expenses. Presents and toys. Donate to politicians, go to concerts, eat tasty food, hire someone to follow me around providing thematic music for my life, That kinda thing.
2 million, set aside for Annuity type deals providing modest but reasonable lifelong income for me, wife, and sister.
3 million spent to buy and build a fairly independant homestead. Land enough to grow some food, building enough to live, solar, wind and water systems enough to be essentially off grid.
2 million for an unspecified project that would bring me great personal joy and help a lot of people.
20 million into buying some farm land land and a few empty commercial buildings in the area. It would be cool to open a commune/coop type deal. Local produce, maybe an abandoned pet sanctuary. Used as a teaching tool for eco-farming, a community housing for interested persons, and to bring life to an abandoned storefront or two. Set it up with enough of a reserve fund that it wouldn't need to be financially breaking even for a good few years, if ever.
20 million more into some sort of project, probably in Wyoming. All you would have to do is find a way to change the demographics of the state a bit, and you could turn it blue. I feel that alone would be enough to really rock the body politic of the entire nation. 20 million wouldn't do it, but it might be enough seed money to start something.
And the rest, I would sit on a bit. Think about exactly how I want to make my mark. A hundred million is all at once a hell of a lot, and yet not all that much. One big project build to last? smaller bits divided off to different good agencies that I want supported? Seeking out random individuals and making their lives a little better? Animals? People? The environment? Politics? Human rights?
I have many ideas. A huge program to provide interest free loans or even grants, to people to put solar on their rooftops. Here in Oregon a reasonable system can be put in for 14k, with about 7 back on your taxes over a few years. I cant help but think 7000 new rooftop solar systems would make a dent in our area's power usage, and with a 5 year break even, a 5 year payback seems reasonable. Which means in 5 years, you could do it again.
Or a program for domesticated animals. Either a shelter, or a free spay/neuter program, or both. Or a program to help kids. Or a program to legalize pot. Or to help abused women. Or to get more efficient cars on the road. or mental illness. or food. Or health care. or education. Or split it up and donate a smaller, but significant chunk to each of these causes. Or just wander around various cities, meeting people personally, learning their problems, and then throwing money at those problems that can be helped that way.
I dunno. I used to have a list, but I think it would likely hit a lot of snags if the hypothetical were to become reality.