So here we are again with a massive Powerball jackpot just sitting there waiting for someone to claim the winning prize of $450 million on February 11, 2015.
If somebody wins.
Of course I play the lottery. If you have happened to have followed me long enough you are well aware that I am willing to fork over my $2 for a chance at multi-millions. If I took the money I spent on lottery tickets year over year and compared that to what I might spend in casinos year after year, the small amount of money I pay for a chance at multiple millions in a Powerball lottery jackpot pales in comparison.
So I am willing to pay, and willing to play. 'Nuff said.
By my math, which is rough I will admit, of the $450 million Powerball lottery jackpot, I will get to keep roughly $270 million after taxes. I am always firm in saying that I would choose to take the annuity option if I won. So after taxes that gives me somewhere around $9 million a year for the next 30 years.
I would likely first give the household budget a $1 million a year "salary," and would give my wife a $250,000 a year "salary." In addition I would give away $1 million to family members. At least in the first year. The rest of the money, $6.75 million would be invested in various ways.
But the most fun would be contributing to what I call working charity. In other words, tipping waitresses at restaurants we would eat out at the full bill. Handing a $20 bill to the guy or gal bagging my groceries. Handing the delivery guy of my pizza or other delivery food a tip worth the entire bill.
The thing is that all of this money goes into the real economy. It benefits society, it benefits jobs, it benefits the economy, and it is my way of paying it forward. Thanking people for their hard work and putting money in their pockets that they may not have otherwise had.
This would be gobs of fun.
I look at it this way. When you are raking in $9 million a year, money really is not an object. Moreover, when you are investing $6.75 million a year, the dividends alone can provide for more than you are used to taking in.
I want to be able to spread the wealth. If I get lucky enough to win the lottery, I want that money to funnel into as many pockets as possible.
And I would have loads of fun doing it.
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