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Discussion in 'Archived Threads 2001-2004' started by Scott Strang, Jan 8, 2002.
You get to keep $70m. Enjoy!!
If I won $70M, I would give about $10M to world vision for support of children overseas. I would transfer some of that in an overseas account. Some of the things I would buy would include land and some real estate so I could create more income, plus have a nice estate for my family.
I have???????? WOOOOOOOOHOOOOOOOOOOOO!!!!!!!!
Do I get all $70M in one lump sum?
What about taxes? Have they already been taken out?
Assuming you handed me $70 Million after tax in one lump sum, I know exactly what I'd do with it: Dump it in the safest investments I could find. I figure 6% is a good return (I can get 4% in my savings account) and is virtually guaranteed and failsafe. That equals 4.2 million per year in interest. They'll take at least 1.6 million out for taxes each year, leaving you with 2.6 million in cash. Every year, for the rest of your life, guaranteed.
I'd live off 1 million per year. That's more money than anybody really needs. I'd give the other 1.6 million away, every single year. I'd give most of it to friends and family; the first year, for instance, I'd payoff their homes. The next year, I'd buy everyone a $50k vehicle and give them a bunch of cash to play with, etc. I'd also donate huge amounts of cash to any organization I felt deserved it. For instance, if my church needed to expand, I'd hand 'em a hundred grand. If I read about some family in the paper having hard times, I might just track them down and give them a bunch of money.
I'd also give money to people on the street. No, not beggars. Those morons can get themselves a job like everyone else. I'm talking really nice people who are actually trying to help themselves. If some stranger did something nice for me, I'd hand them a thousand bucks. I'd go to the bad part of town at random, find a family with good hearts that are struggling to make ends meet and buy them a nice house somewhere. Things like that.
move to hawaii!!!!!!!!!!!!
I'd quit high school (in grade 11). Let my parents buy us a 30,000 sq ft house on the lake and buy myself about 4 nice cars such as Porsche GT2, Porsche 911 Turbo, 2003 Jeep Rubicon, and Corvette Z06. After that I would get like $20,000 for fun and then buy all of Robert Kiyosakis books and see a financial planner so I could put all of that in the bank and never work a day in my life! Also every year I would take out 2 million and divide it among friends, family, and charity.
Put aside enough for college for my two daughters, purchase myself the dream 'fishing' boat i've wanted, invest in land, and retire from my job and become a consultant.
Wonder if I can fit the HDTV onboard
I'd start with the bug house and lotsa cars. Then I would pay off my family's loans and etc. Actually, before all that, I would hire a really good financial planner. Most people who win tons of money go broke later. I wouldn't let that happen.
I can see spending up to 10 mil on a house. That would get you something really nice. Then the cars; one for every day of the week should suffice. Then the theater: front projection HD, seperates, etc. Nothing too fancy (no $50,000 speakers...or cables, for that matter!).
After the first year or two I would get really bored, so I would probably look into buying a business that I enjoy.
I would buy a great house, set up a great HT and spend half the day watching movies and the other half playing golf.
I also would travel.
EDIT: I just read Ryan Wright's post and I have to chime in: yes, that's what I would do also, in addition to what I mentioned.
Well, I don't think I can win, being Canadian, but if I did:
Invest wisely and retire immediately.
Buy a nice house, complete with hot tub and the finest damn home theater set up money could buy.
Donations to charities, likely with a big chunk to my local AIDS organizations and SPCA.
Would probably give a shitload of money away to friends. I don't know what they'd do with it, though, except for my friend Tom who would find himself with recording studio to call his own.
Hire a lawyer and an accountant. Buy a nice house and a nice car then invest most of the rest of it.
Give some to friends and family.
Homes in Scotland and Sicily.
Shopping trips to Britain, new matched pairs of David McKay Brown, Holland & Holland, & Purdey double guns (and a few John Dickson, William Powell, Boss, Woodward, etc., older guns). Side trip to Spain for Arrizabalaga & Garbi also.
'59 Historic Les Paul reissue? Forget about it, I want an original '59! And throw in a few of those vintage Marshall plexi, Vox AC30 & Hiwatt amps please, gotta have something to plug it into!
1 I'd retire my wife's parents. Get her dad out of that damned chicken farming business. Build them a new house of their choice. Fill it with anything they wanted. Also I'd buy them any cars they wanted and a new diesel pusher class A motorhome. Her dad had a Corvette after he got out of the National Guard; I figure he could use another one.
2 Build all of my wife's sibling and their families new houses. Also buy her brother new Ford 4x4 and Z06 Vette. He's a good looking kid and only 20 yrs old. I'd like to see him be able to live the life a young man typically loves; plenty of girls & money and nice cars. He is one of the most deserving people I've ever known.
3 Set up trust funds for my wife's neices and nephew so they could go to the college of their choice and get a help on their starting of their lives as adults. I'd also buy my own nephew and his wife a new house and setup a trust for my great neice.
4 Retire my wife and I and build our dream home. We don't care about a mansion but we'd need probably 5 bedrooms. I'd wire the house with ethernet and DSS cabling. I'd have a "cave" where I hang out with my toys which would include my computer stuff, a new high end $50k audio system and a media library for my reels, CD's, DAT's, VHS, LD's DVD's, LP's books and magazines. In this room would also be a DVD authoring system complete with a DLT drive. The dress code would be underwear only. Also would build a dedicated home theater room and wife could do whatever she wants with the rest of the house. Then invest safely and live off the interest.
5 We'd build an 8 car garage with our house to park the following:
A: My wife's Plymouth Proweler (sp) and whatever else
B: My new Ferrari 360 Spyder complete with silver paint,
glass engine lid and blue break calipers/valve covers.
Of course I'd have to wait for 2 years to get it
after ordering it.
C: My 1974 Porsche IROC Carrera (assuming I could even
find one) complete with naturally aspirated racing
engine, headers and useless mufflers. I had a friend
that had one of these back in the early 80's and it
was the most awesome, unearthly sound I'd ever heard
when those headers racked off. One of those cars could
easily cost $300k today.
D: An early 80's Magnum PI era Ferrari 308 in silver.
Probably an '82 or '83 model. Nothing says Ferrari
like one of those.
E: A new Chevy or GMC Z-71 and a Dodge 4x4
extended cab with the Cummin's turbo diesel.
F: A John Deere compact diesel tractor. They're so cool
and I've always loved them.
I'd change nothing about the clothes I wear. I don't care about buying $300 pairs of slacks and $200 shirts. I'd probably buy a couple $1500 suits for important events and wear Dockers and jeans the rest of the time.
By now you've mostly likely figured out I'm a redneck;
that's the stuff I'd buy. I used to say that I'd buy a Jet Ranger and a small jet, but they'd eat up that money real quick and I'd probably kill myself.
I am not going to answer this question for fear that you would all realize what a selfish bastard I truly am.
hire a really good investment person and give him 80% of the money
buy a modest house with a 5000 Sq. ft garage in the southern part of the country, summer house in the north
install a modest amount of electronic toys in said houses
lots of cars, none very exotic except the bentley turbo R
suppost parents for rest of lives
give money to habitat for humanity and various other charities
now I am broke and have to live off my above investment
I just thought of something I never mentioned. My parents weren't mentioned because they're both dead. But my wife's parents are the next best thing.
1.Drop out of school
2.Buy more guitars
3.Buy every dvd that I want
4.Upgrade the home theater
5.Give some of it away to whatever/whoever I saw fit
6.Buy a recording studio for my band
7.Buy every cd I have ever wanted
8.Buy and train a loyal army of cockroaches to do my bidding.
9.Equipment to make movies
10.A venue so I could play shows there
That's about it