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After 1-2 years to wrap-up the current employment venture, I would open a “boutique” business, centered around custom sports cars, electric conversions and research in vehicle aerodynamics. I’d buy a decent chunk of industrial real-estate, with high ceilings and plenty of parking… install lifts, a machine shop, an assembly room, a design studio, maybe even a wind tunnel of sorts. I’d have a staff of 3-4 people full time, plus a network of part-time consultants. Revenue would almost certainly be lower than annual operating expenses. Thus it’s a “boutique” business. I’d try to partner with the local universities, to jointly do research in automotive aerodynamics and to get our results published. Meanwhile hopefully the real-estate would appreciate. I’d leave it to my employees in my will, and would hopefully groom a successor to take over, as I pass from middle-age into senescence.
Exactly! I'm thinking of the meme from a while back--"My dream job? I do not dream of labor." If I won the lottery, I would not be working in any real sense of the word.
But what would you do to be productive? Most humans want to be productive in some way.... I think I'd be depressed if I wasn't doing anything useful. I don't mean useful in terms of making my boss more money. That's a necessary evil at this point of my life (even though my boss isn't a bad guy or even a bad boss). I'm thinking more about how I'd want to help others and the steps I could take to create some sort of nonprofit or whatever. That's just me personally, though. Others might want to spend lots of time with their grandchildren or volunteering with the elderly in their community or something. But even if you're, say, traveling the world, that isn't something you'd maintain for 30+ years, hopping from place to place and checking out the sights/trying all of the food, I wouldn't think.
I don't need a paycheck anymore, at least not a full-time one; but figure it's still a good idea to keep banking the savings. And since I'm a government worker with a pension, the longer I work the more I get after retirement (until I die). Plus I actually enjoy what I do, and know I'd turn into a 600lb hermit without a job to go to regularly.
So I selected "go part-time," which is my current goal. I've cut back a little on my hours already, just by one day per (2-week) pay period. I also chose "buy rental real estate," since I bought a house earlier this year - which I'll possibly use as rental property when I'm ready to retire/relocate.
But what would you do to be productive? Most humans want to be productive in some way.... I think I'd be depressed if I wasn't doing anything useful. I don't mean useful in terms of making my boss more money. That's a necessary evil at this point of my life (even though my boss isn't a bad guy or even a bad boss). I'm thinking more about how I'd want to help others and the steps I could take to create some sort of nonprofit or whatever. That's just me personally, though. Others might want to spend lots of time with their grandchildren or volunteering with the elderly in their community or something. But even if you're, say, traveling the world, that isn't something you'd maintain for 30+ years, hopping from place to place and checking out the sights/trying all of the food, I wouldn't think.
Agreed. Everyone I know who retired with the idea of "I'm just going to travel/do hobbies/spend time with loved ones/etc" ends up going back to SOME kind of regular work - usually just part-time, maybe even a regular volunteer gig. But humans by nature need to feel wanted and productive.
As I just said above, I'd definitely end up a 600lb hermit without any kind of job.
I’m retired o checked other. But if I won a large one I’d share it with family, not equal amounts for all but half for us and other half split equally among immediate family units.
After I spent the necessary funds and time to supervise all of the work that I'd like to have done on my house and yard (no need to move since I am happy living where and how I do), I'd buy a building in the business district a few blocks away from my house, renovate the upper floor(s) into nice apartments to rent out and turn the street level into the small business that I've long thought of opening. Two solid employees would be nice to have, if not totally necessary in the beginning; I'd be sure to pay them an excellent wage plus benefits so that they, too, could get ahead in life.
If it was a large enough space, I'd make one of the apartment spaces or part of the lower level a studio for my partner so that he could also pursue the expansion of his own business.
None of this would even take a fraction of the winnings of a large lottery. Some of it I would tuck away for a secure retirement, general savings, and for emergencies; the rest would go to family, friends, and two charities to which I already donate.
I'd have to finish what's on my desk (6-12 months).
Depending how big this $ was I would start a foundation to benefit animals.
So, I would work for my new non-profit.
If I won a Power Ball sized lottery and was able to maintain anonymity, I'd continue working my same job and laying low for a year to two.
During this time, we would map out our plans and sleep peacefully each night.
After that period, I'd retire quietly and then we'd embark on the plans we set up.
OTOH, if we were outed as big winners immediately, then we'd probably have to relocate and hunker down somewhere as if we were in the witness protection program until we could live a normal life.
I'd retire from my engineering career and maybe get into real estate or maybe start a business that revolves around one of my many hobbies.
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