Powerball

Haven’t done a lottery post in a LONG LONG time! Mainly because at The Company they’ve firewalled all websites related to lotteries and gambling. I can’t even check the NUMBERS online anywhere, which is frustrating.

However, last night I was able visit some sites and saw that the take home on a single winning ticket would be $132M after all fees, taxes, etc. are taken out. That’s a healthy chunk of change. On the way home last night Radio Chick was giving away free tickets to people who called in with good ideas on how they’d spend the money. As for me?

$13.2M to my church
$13.2M to various charities and to start college scholarship endowments
$5M each to a trust fund for my kids payable upon their 25th birthday
$10M investment into real estate in the following places: New York City, Hawaii, Scotland, South Carolina
$1M to buy a small plane to get back and forth between aforementioned real estate
House for Jen/Beau to start their family in style
House/Business space for Marmie/Pop to grow Marmie’s tea business into large Martha Stewart corporation
Various cash gifts in $10K increments to all friends and family (anything over $10K per year is taxed, so they would get repeating cash gifts for several years)

Even with all that we’d still have something like $75,000,000 left, which is a scary amount of money.

But I’d use some to start my own business at that point – I’ve mentioned before how I want to open a top-notch, top-of-the-line kennel for animals of all kinds that allow owners to view their pets online while they are on vacation, get grooming services at basic prices, veterinary services, etc. and know their pets (anything from ferrets to cats to dogs to pigs to horses) are well taken care of. For that I would need many many acres of land, a full-time vet staff onsite, cutting edge computer technology and a town that has the clientele. I wouldn’t charge a lot to the customer because the goal is to allow “average” people to afford the extravagant care for their animals. That’s my dream job. Being with animals all day.

Update at 1:30 p.m.: Denis is on his way now to PA to pick up $5 in Powerball tickets. This is on the off-chance my family is unable to get some while driving up to NJ today.

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8 comments

  1. Are you sure you’d want to turn over $5 million dollars to a 25 year-old?? I know if I’d had that money at 25, I wouldn’t have it today. :nono:
    That said, I think your list is admirable (including the dream job…very cool!). Not that I’m on the all important “friends” list (YET :wink:), but you can now give $11,000/yr/person (so if they’re married, you can give $22,000) without gift tax. Just making sure your friends get their “fair” share. :angel:

  2. Gotta Love Gwynne! :clap:

    Anthony and I have joined his pool of 8 at work… That would mean we would bring home 16.5 million. Not bad. Of course nothing near 132Million but I could live with it. We decided that we would just pay for things for everyone this way they wouldn’t be taxed. i.e. houses, pay off mortgages and the like.

  3. Gwynne, I would not let the kids have access to the entire $5M upon their 25th birthday. It would be handed out piecemeal each year, like an annual allowance. If they blow through it before the year is up, that’s their problem.

    We may be (eventually?) rich, but I hope to teach my kids to be more responsible with money than I was at that age. Fortunately the man I married is VERY good about saving and spending wisely, so they have ample opportunity to learn to be responsible.

  4. Very wise. :up:

    So now, what do I need to do to get a high-paying job (the kind that doesn’t involve a shovel) at your dream company?

  5. Gwynee, for benefits to employees what if I were to offer…

    * free health/dental insurance for self and immediate family
    * 4 weeks vacation and 1/2 of all national holidays (we’ll need SOMEONE to cover on holidays)
    * quarterly performance bonuses based on how well the kennel does AND how well the employee does
    * free veterinary care for your own pets
    * free gym on location
    * free lunch/snacks/dinner every day including weekends and nights
    * ample retirement/401K plan complete with company matches and easy vesting (3 years instead of 5?) (this was added after Gwynne’s comment)

    Salary would be dependant on the job – obviously the Vet is going to make more than the person working the cash register. But all “low” salaries would be far above minimum wage, and with all the perks and bennies would be a GOOD job to have, right?

  6. I’d work for you, Jaynee! :-)Those are great benefits.

    And, wow. Having 75 million left over after giving so much of it away/investing?! That really is a large amount of cash. I can’t really comprehend it very easily.

  7. Throw in a nice healthy retirement plan contribution, and I’m there! I might even be willing to shovel. πŸ˜€

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Powerball

Well obviously we didn’t win Powerball since Denis didn’t drive to OREGON to buy our ticket. We didn’t get any numbers. Our ticket numbers were all under 16, and five of the six winning numbers were 21 and over. So we got nada. Looks like I have to continue working. *sigh*

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One comment

  1. My grandparents live a few miles from where the winning ticket was sold…I’ll admit I was really hoping it was them who had won…LOL!

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Powerball

**Ignore this whole post – Mr. Sutherland left to go home in the short 10 minutes I was covering reception and I missed the chance to give him the $5. Oh well.**

Denis informs me that Powerball is up to $340M for the next drawing. Sadly, The Company has a firewall against all lottery sites, so I can’t go on to my regular lottery site and see more details on Powerball or even MegaMillions. All lottery dreams can only be researched on weekends when I can get into the site.

However, I’m going to ask Mr. Sutherland if he wouldn’t mind dropping down $5 for me tonight when he goes home (he lives in Connecticut), if it’s not too much trouble. And so because we may actually have a ticket for the next drawing, here is my analysis on a take home prize of $150M (that’s the $340M minus all taxes, fees, etc. that might be incurred):

$17.5M to charity
$17.5M to church
$15M trust for each child ($5M each) upon their 25th birthday (yes, we plan on having at least three kids)
$10M to real estate in various locations (NC, NYC apartment, Europe)
$15M set aside for gifts for friends and relatives
——
$75M left to invest with and live off the interest

Although I’ve said on many occasions that I’d love to buy acres and acres of land and open up a ritzy pet boarding kennel on the property – offering high-end care for low-end prices. Since I wouldn’t need the money, I’d pay my staff well but require little from the folks using my boarding services. I love animals so that would be a fun company to own without having to worry about costs.

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2 comments

  1. It’s okay, Jaynee–MegaMillions is $90,000,000 for today’s drawing! That’s not $340M, but it will do! Now, I just have to remember to actually stop tonight and get my winning ticket…

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Powerball

Well, Powerball is up to $250m for tonight’s drawing. My sister called me yesterday to see if I wanted tix (since we live in a state that is not part of Powerball). HECK YEAH! I’m sending her a check today for $10 to cover our entry into her office’s pool. I don’t know how many people in her office are participating, but presuming we’d get 5% of any after-tax earnings, that’s a cool $7 million. I’d take that for a $10 investment!

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5 comments

  1. They’re still collecting money and buying the tickets tonight. I’ll let you know how many are in later…

    I realized after we got in that I probably just doomed us to not winning. πŸ˜†

  2. You don’t need any more money, Lori!!! But if you win, remember your friends in NJ. CootieGirl needs a new pair of BMW’s.

  3. Just in case you’re still wondering, we didn’t win the big money.

    Our little group did win $50. So that’s about $2 per person. Nice, huh? We take home .1% of what we contributed.

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