OT: What would you do if you won the lottery?

Submitted by DISCUSS Man on

What would you do if you won the record lottery amount? The record for a single ticket claim is $590.5M which came out to a payout of $370.9M to one lucky person in Florida two years ago.

How would you celebrate? Would you buy anything right off the bat? Would you quit your job in a fun way? Would go big and buy a mega-house in a fancy location?

Would you do anything Michigan-related? Perhaps go and watch them play in bowl games, the CFP or NCAA Tournaments in Basketball?

Yostbound and Down

March 17th, 2015 at 10:09 PM ^

Buy a house in A2 (income property, rent it to nice responsible grad students) with a garage I can tailgate at on game days (with season tix).

Give Harbaugh a nice advance on his book deal.

Boat.

House up north on Lake Michigan.

New car.

Invest about 100 mil.

Make some donations.

Throw a kickass music festival.

Give a lot to my parents, brother and sister.

LIve off the rest.

Brewers Yost

March 17th, 2015 at 10:12 PM ^

First I would have to do the boring stuff like investing some and setting a budget so I wouldn't blow it all. Then take care of my family and friends.

 

For fun I would buy some thoroughbreds and get into the racing game.

xtramelanin

March 17th, 2015 at 10:19 PM ^

and so did many of you.   fun as it is to speculate on stuff like this, your family is your 'lottery' win.  your spouse, those kids, your siblings, etc.   your faith if you have it, your health, if you have it.  everything else is just details.

and if i did win, it would be virtually undetectible in terms of behavior or possessions.   set up my family/extended family with trusts, pay off note that the church has, work less, but not retire.  

oh, and i might throw one massive mgoblog bbq for you guys on a game day.   so there.

Wendyk5

March 17th, 2015 at 10:22 PM ^

Give the vast majority to charity - specifically, rebuild some of the infrastructure of our town, like a new indoor skating rink and an indoor practice facility for baseball and soccer; make aesthetic improvements to our schools; and then donate whatever's left. I'd keep around $20 mil for myself and my family. I'd start a rehab business - buy old houses, rehab them, and flip them. No new stuff, just better and more vacations. 

MGomaha

March 17th, 2015 at 10:33 PM ^

Buy a nice house out here for a cool 2.5 million or so out here in Nebraska, along with a fall house in AA.

Go to the lot and purchase a Callaway C7.

Style on hoez

 

Sam1863

March 17th, 2015 at 10:44 PM ^

After all the boring stuff (buying a nice house with a man cave so covered with UM stuff it would make WD jealous, investing, making sure my family was set for), I'd travel. I am the worst-traveled person I know, so I'd put that money to use and hit the road. Two trips for sure:

1. The girlfriend and I go to London, stay in the finest hotels, see some West End shows, do the whole posh thing - and then find a London cabbie, tip him outrageously, and tell him to take us to the good places the tourists don't know about.

2. Get myself an appropriate vehicle, and do my own Civil War battlefield tour. Every place I could get to (including Washington DC), culminating in a trip to Gettysburg. There, on the early morning of July 1, I will stand in McPherson's Woods next to the 24th Michigan monument, open a bottle of Lagavulin, and drink a toast to two men: my great x 3 grandfather, who stood in those woods in 1863, and my father, who taught me about the war he fought in.

After all, if you luck into that kind of money, you ought to spend part of it on a pilgrimage.

Yostbound and Down

March 17th, 2015 at 11:21 PM ^

Nice to see a fellow Civil War buff on here. 

My ancestor was in the same generation as yours and was in one of Custer's cavalry brigades, I think 6th or 7th Michigan (from Grand Rapids) Saw some action behind the battlefield on the third day against Jeb Stuart, and then had pneumonia that knocked him out  of the war after that.

The 24th Michigan is one of those regiments that is very renowned in history. They were the relative newcomers to the Iron Brigade, fought like hell on the first day to hold up AP Hill. I remember seeing the picture of their regimental flag (what was left of it) in one of my dad's history books.

 

I wouldn't mind going to England but i've seen London...would like to see Manchester (music capital of the world) and Liverpool, more of Scotland.

Sam1863

March 18th, 2015 at 5:43 AM ^

Like many people, I've never seen East Cavalry Field, probably the most overlooked part of the Gettysburg site, where Custer and his "Come on you Wolverines!" charges blunted Stuart's attempt to split the Union lines from the rear on July 3.

The 24th took 496 men into action that morning, and suffered 399 casualties, including my Grandpa Sam, who was hit in the foot and lower leg and limped for the rest of his life. I take my screen name from him.

The girlfriend and I also want to tour England and Scotland - her to see the home of The Beatles, and me to liberate several bottles of single malt.

 

Engin77

March 18th, 2015 at 2:37 PM ^

I had a great*3 grandfather in the 56th Pennsylvania Volunteers who fought next to the Iron Brigade on the first day then spent the next two days on Culp's Hill.  The personal connection is a very powerful reminder of the sacrifices those men and women made, and the ongoing service of those who fight our battles.

As to stops on your tour, I'd recommend:

 Vicksburg, fantastic park and recently regroomed for 150th anniversary in '13.

 Shiloh, eeriely quiet and misty when I was there.

 Lookout Mtn and Chickamauga are excellent as well; Missionary Ridge pretty much taken over by housing.

I need to get to Virginia and Georgia one of the days.  Maybe if I win the lottery ...

Fred Garvin

March 17th, 2015 at 11:11 PM ^

And have concluded that - materially - there's nothing a lottery win would give me that I don't already have or see myself having in the future. I'm not wealthy, but a decent income and relatively simple needs have made my wife and I content. For me, happiness is being able to get a tank of gas or my wife being able to pull $100 out of the ATM without either one of us giving it a second thought. I know that is something a lot of folks can only dream of so I don't take it for granted. I read somewhere that the marginal utility of money drops precipitously at $60K/year. It makes sense to me. If I did win the lottery, I'd pay the debts of the people I care about and set them up with trusts. I'd probably stop working in order to travel more, but I'd place a high priority on finding something to occupy my time, whether it be volunteering, taking classes, whatever. I've seen people achieve the 'dream' of retirement at 50 and many of them don't fare too well. They often end up fat, diabetic, or dead. After setting aside enough to secure our financial future (for me, that would be the best thing a lottery win would buy me), I'd probably give the rest to charity. That would provide more satisfaction than anything I could buy for myself.

boers21

March 17th, 2015 at 11:23 PM ^

1. Pay off Student Loans
2. Pay off house and cars
3. Set aside money for kids college
4. Help parents/family
5. Go on a great vacation
6. Put half the remaining in savings and the other half invest
7. Season tix to Cubs and Bears

Gr1mlock

March 17th, 2015 at 11:31 PM ^

(Note: I'm single with no kids) Step 0: make sure nobody knows who I am once I get paid
Step 1: quit job (not in a flashy or crazy way, but I'd be done)
Step 2: put half the money in zero/near zero risk investments that i am never ever ever touching
Step 3: pay off a few friends' student loans and other debts
Step 4: travel for a while
After that, no idea. But generally love life.



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mistersuits

March 17th, 2015 at 11:39 PM ^

I would pay to have Dave Brandon instated as the athletic director...

at Ohio State.

Then I would make Notre Dame rehire Charlie Weis.

Then I would pay someone to put tiny Block M branded tent stakes in Dantonio's yard every day.



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justingoblue

March 17th, 2015 at 11:45 PM ^

With $370.9mm in the bank, I'd have a big apartment in Chicago, probably a Tony Montana place on a secluded island in the Caribbean. I'd drive a Tesla P85D and have a silver 1964 Aston Martin DB5 in the garage.

The rest I would split up. Part would ensure I could maintain whatever lifestyle and leave a big inheritance, and part would fund a foundation to [redacted personal beliefs]. I'd run the foundation as a full time job.

I would also have baller seats to a large number of sporting events and I'd hire big time musicians to play private parties.

trustBlue

March 17th, 2015 at 11:51 PM ^

(1) Buy a boat. 

(2) Get all of my friends and family together and put them on said boat.

(3) Slowly make our a way down to an island in the tropics.

(4) Buy the island.

(5) Never come back.

MichiganMAN47

March 18th, 2015 at 12:18 AM ^

Even though  I'd have all the money I'd ever need, I would have to occupy myself in some way.  Perhaps I would start my own business and put some of that money at risk. Or I would become a professor, or work toward improving the political structure into something more ideal. 

UofM626

March 18th, 2015 at 12:50 AM ^

Leave Southern California for good and buy the best pizza slash sports bar or lunch place in downtown Ann Arbor and move my family there and live and work there the rest of my life. And buy season tickets to all the Michigan teams and show my kids what it means when someone says "seasons change" and show them real 4 seasons! I can dream lol

CoverZero

March 18th, 2015 at 2:21 AM ^

1) Pay off all debts.

2) Help friends that need help.

3) Start a charity for sick and abused kids, or get involved with one like Mott.