You Just Won the $630 Million Jackpot - What're You Going to do with the $?
Mates,
What are you going to do with the $630 million? Sure, taxes, etc, puts it down to a paltry, say, $450 million, but that's a lot of cabbage. Do you take it in a lump sum? Do you take it all in one shot? Invest? Charity? Fund the [fill in your avatar name here] Coaching position for [fill in sport here] at U of M?
Dish. What do you do with all that money?
XM
buy a Lake House, an Eleanor Mustang and Travel the world. probably buy alot more things that I can thinl of now
Invest for generational wealth. Classic cars, for sure. Dirt bikes. Luxury watches. Lake cottage with an awesome pole barn.
There are 25 comments and currently this is the only one mentioning NIL. I guess the recruiting panic is over and we haven’t even made it to the BBQ yet.
I would do do reverse NIL. Just pay kids not to go to OSU.
The first thing I do is hire a personal chef and a personal driver.
If I want pork chops at 2:30 AM, it will happen! If I want to be riding shotgun and eating Del Taco at 2:30 AM, that can happen to.
Is Del Taco good? There is one going up not too far from me.
when i lived in socal i thought they were definitely better than, say, del taco.
I nominate myself for any personal chef positions that may become available
I can make a mean box of mac & cheese... and will do it for a bargain salary of $100k/yr.
Mostly charity - hard to justify having multiple millions of dollars just siting when people are suffering, homeless, starving, and lacking in educational opportunities.
Still keep enough to pay off debts and have a reasonable (i.e. modest) living.
Buy a winter residence in Argentina, a loft in Tribeca, open a family office, and executive produce film festival films.
+ Donate some to groups working so less people go to prison.
The middle schooler in me would say “buy a new butt. Mine has a crack in it.” That’s why he’s not my financial advisor.
Cut the soles off my shoes, climb a tree and learn to play the flute.
Seriously though...I'd buy a nice but modest home in a small town in the interior of Portugal. Then purchase the local futbol team and make sure it had sufficient funding to compete in the third division or whatever of the Portuguese League. The rest? Microfinance. All over the country.
Why small town Portugal? Because in my experience they are the nicest people in the world.
You from California?
No. Thank goodness.
+1 for the Firesign Theater "Porgie and Mudhead" reference. Nicely done, sir!
George Leroy Tirebiter is that you?!?
No. He's upstairs helping Porcelain make the bed.
Insert "2 chicks same time" gif.
Don't need a million dollars to do nothing. Take a look at my cousin. He's broke and don't do shit.
I'd invest half of it in mutual funds and take the other half to my friend who works in securities.
I’d legit give most of it to pediatric cancer research. Cuz, Fuck Cancer.
I'd donate to every burn unit in America.
Between the combined psychological and physical trauma, nothing breaks my heart more.
me too! I still can't grasp that only 4% of cancer research money is spent on Pediatric cancer at the federal level. Good thing there's good charities dumping money into research and providing other ways to help the kids and their families .. There's several charities I'd love to write a 6 figure check too.
Side note* if you haven't heard dicky Vs speech when he accepted the Jimmy V award,I highly recommend it. was incredible!
Fuck cancer
That speech was incredible - and so was Jimmy V's speech when he accepted his Espy not long before he died. Listen to both...
Both are incredible for sure. Dicky V's hit home. When he started talking about those kids, calling them by name. Then turning spotlight on how under funded pediatric cancer is.. just incredible
My initial thoughts go to paying off all my debt and buying a modest house to start. Nothing too big or fancy, just something with at least 3 bedrooms and 2 bathrooms and something on the beach. After that? I don't know. Probably travel and learn the world. I'll admit my ideas are selfish but I don't know much about charities or which ones to donate to. I'd have to figure that out.
Also I'd probably throw about 50k at bitcoin and etherium just to see what happens in 1 or 2 years after the market recovers. Maybe some other stocks too. Not sure which ones.
Donating $20M to get a statue of Bo put up near circle of champions
Make it so you can directly copy and paste links on these posts
Hookers and cocaine (this is why I don't go to Vegas)
Go fishing more. Honestly perfectly content with life as it is now. I'd worry that that kind of money would throw it off balance.
kidding aside, that is a true and significant worry re: throwing life off balance. i think there's some lottery winner show and a surprising number end up dead, broke, and/or in custody. wealth really can be a curse.
it can and has broken many people and their lives. It's the lack of training, discipline, and wisdom that does some/most of them in.
But wealth can also be a blessing --- if it's handled well.
Canning the levity for a moment. Having that kind of wealth suddenly show up would likely create a boatload of curses. For a few...
Family members from near and far hating you because you didn't give them "enough."
Dealing with friends you never were aware you had.
Having no temptations you couldn't finance.
It would take a lot of discipline not to have your life become unmanageable. And sudden wealth and discipline are two things that you will seldom see in a sentence together.
Accept the funds via an anonymius Trust. No one will know and you live your life out of the spotlight.
Invest in lottery tickets
First, I would set up trusts for my children to continue and complete their college education - as well as provide a foundation for their lives. Part of the trusts would be structured to provide for the education of (what I hope) will be grandchildren many (or at least several) years from now. I would clearly state my preference is that educational funds be used to attend The University of Michigan, if the grandchildren are offered Admission.
Second, I would endow a chair - probably in the College of Engineering, in the name of my parents.
Third, I would take a chunk of the money - working with my financial advisor - so, the interest on the capital is what we’d live off of.
Fourth, I’d create a separate charity, and use some of my free time to evaluate causes and contribute to them annually. One cause that would be a priority would be Alzheimer’s / Dementia research. Childhood cancer, noted above - is also a fantastic cause.
Fifth, I’d golf more - my short game needs a lot of attention, and - probably buy a condo / house near Ann Arbor - so we could visit the kids as often as we’d like, and wouldn’t have too far of a drive on home football Saturdays.
Sixth, I’d see if we could increase the number of football season tickets we have, and plan for fantastic tailgates at every home game.
Seventh, after all this is set up - I’d write a letter to my boss, telling him that I was resigning.
I don't have any real desires for fancy things. Also no kids. So I'd probably keep enough, maybe half, to invest and make sure that my large extended family (> 60 relatives) and close friends could live comfortably. The rest I'd donate to no-kill animal shelters and medical charities.
And of course I wouldn't forget about my MGoBrethren:
- New farm machinery for XM (round bailer?)
- A lifetime supply of Miracle Whip for RobF (and I'll make sure you eat it all, Rob).
- An all-expense paid camping trip for everyone on the board. Real classy-like. With raisins in the cookies even.
aw, blue, very kind of you to even think of that. for those that don't know, a round baler is a piece of machinery that turns your cut hay into big (4-600 lbs), beautiful round hay bales.
that one there costs about $50K. at some point i hope to find a used one in good condition. in the mean time we'll have to get along with our old square baler.
Damn, I didn't know it cost that much...
j/k. Anything for you, brother.
just think of the rose garden you would have.
The math is:
Taking the one time payout? It's about $230MM after Federal taxes. Using various tax free investments, you would see about $155,000.00 per week, again after Federal taxes, every week, just for waking up that morning.
Relocate to a state with no income tax(es). Spend the income and donate as you see fit.
Hard one.
Open an addiction facility for poor and make it look like the ones in Hollywood, my passion. Of course, make sure there is enough money for my friends and family and for the future of kids in the family. Give some to MGoBlog, my favorite place to hangout. Give zero dollars to politicians. Fuck them.
Well, it will never happen for me. I never play lottery.
Payoff all the debt for everyone in my extended family and give them all some money - not so much that it changes who they are, but enough to make them happy.
Buy a lake house up north and probably also a place down south.
Retire
Book and pay for a fly-in fishing trip for me and a bunch of my friends, and probably schedule several more vacations for me and my friends.
Travel the world with my wife.
Just for starters,,,
I've thought about the pay off debt thing for relatives. I love the idea. My problem is that the bad habits that got them into debt will still be there. I think I'd set up a matching fund for them. For every dollar they pay off, I'll pay off another dollar. I'd also require them to take the Dave Ramsey course and follow his baby steps.
Bankruptcy here I come!
but glove, think of the fun you'll have on the way.
Replied in wrong spot.... But I'll take a lifetime supply of pizza
Chicago style? Hell yeah!