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Artie Lange (comedian, formerly a Howard Stern show employee) had a great bit on making 4.2mm working on the show. He laughs and says he had 3 of the worst habits (drugs- heroin/cocaine, women- rented and gambling) yet he NEVER RAN OUT OF MONEY. So he continues, how did Allen Iverson (NBA player) blow through 150 million? He said was Iverson handing out Rolexes and Rolls Royces to everyone he knew?
Moral of the story, it is all relative. 5mm to most folks is a lifetime windfall that should last generations. For others it is a month of partying!
Artie Lange (comedian, formerly a Howard Stern show employee) had a great bit on making 4.2mm working on the show. He laughs and says he had 3 of the worst habits (drugs- heroin/cocaine, women- rented and gambling) yet he NEVER RAN OUT OF MONEY. So he continues, how did Allen Iverson (NBA player) blow through 150 million? He said was Iverson handing out Rolexes and Rolls Royces to everyone he knew?
Moral of the story, it is all relative. 5mm to most folks is a lifetime windfall that should last generations. For others it is a month of partying!
Amazing, isn't it? How do people waste that much money?
Quote:
Originally Posted by LillyLillyLilly
The jackpot for Mega Millions has jumped to $654 million, with a cash option of $372.6 million.
Odds of someone eventually winning the jackpot? 1:1
Someone (or several someones) will eventually hit the right numbers. Any ticket holder has the same odds as anyone else that their ticket will be the winning one.
Artie Lange (comedian, formerly a Howard Stern show employee) had a great bit on making 4.2mm working on the show. He laughs and says he had 3 of the worst habits (drugs- heroin/cocaine, women- rented and gambling) yet he NEVER RAN OUT OF MONEY. So he continues, how did Allen Iverson (NBA player) blow through 150 million? He said was Iverson handing out Rolexes and Rolls Royces to everyone he knew?
Moral of the story, it is all relative. 5mm to most folks is a lifetime windfall that should last generations. For others it is a month of partying!
Allen Iverson still has money. His financial advisors set-up a trust for him so he can only take some money but not all.
The best thing to do is hold off from doing anything from 6 months. After 6 months, the excitement of winning the lottery should have faded away and people would bore off from you.
I would give my job an ultimatum that i need to work from home for the next 6 months with few office visits or i need to hand over my 2 weeks. If they accept my 6 months proposal, i would rent an airbnb near the office and hire a private driver.
I would take 70% of the winning and allocate it to myself.
I would take the remaining 30% and distribute among immediate family members then extended family members then friends and finally some co-workers.
My 70%: (100% allocation below)
20% = Put in various retirement funds
20% = buy real estate. Primary home, vacation home and investment properties
20% = Mutual funds, EFTs, etc.
20% = Life Expense account = Calculate the expenses that i will have from now to retirement age
10% = Emergency Fund account
10% = reallocate evenly to the above
If I won, I'd never work again, but instead do volunteer work at nursing homes, art museums, town festivals, etc... I would spend my days playing with my cat, gardening, kayaking, reading and watching horror films. When I pass away, my money would go to charitable organizations supporting animals, parks/conservation lands and helping the elderly.
I would save/invest most of it. I just bought a new car, so I'd pay that off. Probably buy a nice house with enough room for my retirement hobby (model railroading). Oh yeah, the retirement would begin immediately
I wouldn't travel much, except for a fantasy trip. It would based ona book from the 1980s, "Dodgers Dogs and Fenway Franks". It was written by Robert Wood, who in 1985 was a 28-year-old middle school Social Studies teacher who fulfilled a long desire of his to visit every Major League Baseball stadium in one year. I suspect the pay for a middle school teacher in Seattle back then were somewhat modest so he was going to drive to all of them. Starting in mid-June after school ended, and wrapping up in August. His main expense was a new car (1985 Toyota Tercel), as his current car was a 1977 Ford Pinto with 150K miles (he needed a new car anyway, trip or not. he started with the Mariners of course, then down to California and their 5 MLB teams, then went across the country (and Canada for the Expos and Blue Jays). I forgot where he ended up, may have been Philadelphia. It's a great read even if you are a casual baseball fan, probably available at Amazon or eBay.
Back to my trip, without financial constraints for the most part, I would fly to the games (except of course my local team (Miami Marlins)). Unlike Mr. Wood, rather than one continuous trip around the country (and Toronto). I would break it up into 3 or 4 city segments (except the finale which would be the 6 west coast teams). The plan would be:
Group A
Miami Marlins
Tampa Bay Rays
Atlanta Braves
Group B
Baltimore Orioles
Washington nationals
Philadelphia Phillies
Group C
New York Mets
New York Yankees
Boston Red Sox
Group D
Toronto Blue Jays
Chicago Cubs
Chicago White Sox
Milwaukee Brewers
Group E
Detroit Tigers
Cleveland Indians
Cincinnati Reds
Pittsburgh Pirates
Group F
St. Louis Cardinals
Kansas City Royals
Minnesota Twins
Colorado Rockies
Group G
Houston Astros
Texas Rangers
Arizona Diamondbacks
Group H
Los Angeles Dodgers
Los Angeles Angels
San Diego Padres
San Francisco Giants
Oakland Athletics
Seattle Mariners
So I would end where Mr. Wood began. Group A would be in mid-April (the weather is decent in Miami and Tampa by then, plus those are both indoor stadiums anyway. Atlanta should be OK, definitely not cold, if not overly warm. Group B probably mid-late May, Group C mid-June, Group D late June/early July, Group E, mid-July (post All-Star Break), Group F early August, Group G late August, Group H mid September. That way, I have some breaks between trips.
As for the flights, just because I would have a lot of money, doesn't mean I have to spend most of it on airfare. Fortunately, mu home airport (FLL - Fort Lauderdale/Hollywood) has a major LCC presence. It is a hub for jetBlue, and Southwest has a big presence there as well. I figure that I could do most of the trip using those 2 airlines. An exception would be Toronto, as neither of them flies there, so I would probably have to go with Air Canada, FLL-YYZ and YYZ-ORD. Also, jetBlue flies from FLL to 3 cities in Group D (all except Cincinnati), but not between the cities. So I would fly FLL-DTW, then rent a car, drive from Detroit to Cleveland, Cleveland to Cincinnati, Cincinnati to Pittsburgh. return the rental at PIT and fly PIT-FLL on jetBlue (or even Southwest). I would also make use of Amtrak from Baltimore/DC to Philadelphia (group B), and New York-Boston (Group C). Also, LA- San Diego, and possibly LA-Oakland. I might fly Alaska SEA-FLL, as jetBlue doesn't fly it and Southwest I'd have to connect, or at beast a one stop (maybe SEA-MDW-FLL). There is a 99.9999999% chance this will never happen, but fun to dream
They say if you win you should just continue doing what you have always done,pretend you didnt win as it can literally destroy your life letting all that money goto your head....
I havent ever won (BIG anyway) and I question if anyone really does!!
I always say that if you win that kind of money, it becomes your job. Not to say that it all has to be invested and tracked, but you could create a lifestyle of self-improvement that would take up most of your day.
How many rude customers, how much overtime, how much interpersonal conflict could you deal with when you have $100 million in the bank? Not to mention being somewhat paranoid about people being able to find out your work schedule.
They say if you win you should just continue doing what you have always done,pretend you didnt win as it can literally destroy your life letting all that money goto your head....
I havent ever won (BIG anyway) and I question if anyone really does!!
Unfortunately what I've always done stresses me out. I'd prefer having a more relaxed, positive and joyful life than one of micromanaging drudgery.
But darn, I didn't win! No one else did either.
Now the Mega Millions' jackpot is up to $868 million! Cash option is $494 million. Next drawing on Friday 10/19/18.
Last edited by Taffee72; 10-17-2018 at 05:47 AM..
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