I did this the last time the MegaMillions lottery got up over $200M, so I’ll do it again, with the adjusted numbers (since this time it’s $280M instead of $222M – a take home of $116M instead of $98M).
What would you do with that much cash?
Here’s my updated list from last time :
$11,650,000 split between my church and my parents church
$11,650,000 split between various charities (complete with that wacky donation request to my college that I mentioned last time)
$2,000,000 for my sister
$2,000,000 for my folks
$2,000,000 college fund for Denis’ sister’s kids
$2,000,000 for Denis’ sister and her husband
$2,000,000 for Denis’ mom and brother for their generosity over the years
$16,000,000 divided into two trust funds – one for CootieGirl, and one for CootieBoy. Available to them on their 25th birthday.
$3,000,000 divided into $10,000 gifts for various family and friends.
That leaves $57,850,000 left for other more frivolous things. Church, family and friends come first, THEN the shallow material things.
That $1,750,000 house in Montclair that I just posted about a minute ago.
$6,500,000 for a permanent luxury apartment in NYC – yes, they can cost that much. The understanding would be that this apartment would be available for use by all friends and family who wished to come visit NYC at any time, whether we were in town or not.
$1,500,000 for a house in the south – yes, it’s that much cheaper to live in the south. This house would be infinitely larger than the NYC apartment, but you know what it’s all about – location, location, location. The house in the south would enough acreage that I could have lots and lots of animals – horses, dogs, cats, chickens, pigs – you name it, I want it.
$48,100,000 left.
Here’s where we get to be a bit “nutty” spending money on wild things, like:
a cool $2,000,000 for a house in Hawaii – again for all friends and family that wanted a place to stay for free when visiting paradise on earth.
a house in Scotland with acreage, Arran cliff views, and gardens – I found one online for less than $2,000,000 which I feel is quite reasonable! Sure, it’s Scotland, but the outside of the house is so delightfully Austenesque (and it’s still available from last time!).
a jet to fly my family and friends around to various locales (NYC, Scotland, the South) for visits and vacations. It would also be fun to say to the youth group at church, “Hey, wanna go to Scotland for the weekend?” and just hop in the plane and GO. All passports must always be current and at arm’s length!
Even with all those worthy AND frivolous things that we spend money on, we’d still end up with about $40M+ left in the bank for regular expenses, investments and further gift-giving as needed.
It’s still fun to dream, isn’t it?
$2m. Dang, that’s a lot of money. It’s kind of scary.
Thanks!
“That $1,750,000 house in Montclair”
Is that so you can be even closer to me. How sweet.
Lovely Home btw! Got my vote.
Oooh, just looked at the Scotland house. I want! I want! I want!
Just kidding, but I’ll be the caretaker if you want someone to live there year-round. Amazingly beautiful.
Is it me, or do the first and second picture of the “Scotish Island Estate” look like two totally different houses. I know one is a rear view, but the fist picture looks like alot more house.
Ok, I can understand why Rich People need jets. There fancy, I get that. However, can someone please tell me why each and every jet available ,through the link that Jaynee provided, has fur covered seats in the cockpit?
I don’t pretend to know the fist thing about flying a plane or the comfort of fur, but this one through me for a loop.
I still get to be the CIO at the Scottish house, right?
Jen – sure, it’s $2M, but you also get free use of any of the houses and the jet.
Dad – sure you can be CIO, but be prepared for a year-round guest in Jen.
Ace – no idea on the fur in the cockpit seats – maybe it’s to ensure the pilots are comfy as possible?
One more question. Is the $2M before or after MY taxes on it?
I think that’s before VA taxes. So that money will be double taxed – it’s the American way! 😆
Actually, won’t it be triple taxed?
1. Feds from original winnings
2. Feds from gift
3. VA state from gift
I know that NJ state doesn’t tax lottery winnings.
Can I be your friend?