Lottery Fever?

Does anyone in the United States not have Powerball Lottery fever? I don't know of anyone, even among the rational and staid. If they're not rushing out to buy tickets, they're at least paying attention and speculating - 'what would I do if...'

Given the sheer number of people who are in on tonight's drawing, it's probably 1:300,000,000 against that no one will win while the odds are 1:293,000,000 that someone will. With the jackpot at $900M it's pretty sure that there are 300M tickets sold in the forty-four states that participate.

Confession: I have mine. I bought two plays at one vendor, two at another and will buy one more at a third today. Superstition? Perhaps it is, but I do notice there are differences in the numbers - and not just a little difference. Out of the four plays three are pretty similar, which is one of the problems with the quick picks. However, if you don't have time to stand at the kiosk and fill in your tickets it's the only good choice. Or don't play, which is also a choice.

What would I do if I won? I have plans. Nothing big and I am very good at saying 'no'. I know which groups would get money and I know how I would structure my donations. I know who my family are so newbies showing up and declaring familial relations will be given short shrift.

Depending on how far that jackpot went would affect my plans, but the basic idea would remain the same because who needs more than they need to live comfortably?

Let's say I'm one of four winners. After all of the dust settles I would end up with almost $62M. Honestly, why would I need any more than $120k per year to live? Why could I not live well on $10,000 per month? Even on my bucket trip I'm not planning on spending more than $9,000 per month or $300 per day. One person traveling alone, staying in places for long periods and doing most of their own cooking should be able to make that work. So $10k per month is still far more than I would need, because my overall lifestyle wouldn't change.

I would happily accept $120k per year. Assuming I live another thirty-five years (unlikely, but possible), that would be $4.2M I would need to keep that pace. Since it's unlikely I would spend even $120k per year, it would roll over and I would have that much more available when I really need it.

Immediately, I would spend about $1.5m on myself. A new home locally and my future home on acreage over there. Land + site improvements + the home I've already identified and visualized that I would start on immediately so it would be ready when it's wanted.

I would buy the pickup truck I've always wanted, and a bicycle. Yep, a bicycle. A desktop computer and some clothes - Lee jeans in a variety of shades of blue (based on dye lot). Not Nordstrom or Macy's or any of the expensive places. Kohl's needs my business just as much and their prices are better. So are Target's. Why pay premium price for something I can get for less even if I have the money to spend?

Based on $6M taken from that $62M for myself and my future needs and wants, I would have a cool $56M to offer up to charity. Eleven charities and $5M each with $1M left over for the 'one-offs'? I would have choices, lots of choices and, looking at CharityWatch.org there are a lot of worthy charities out there.


And CharityWatch is worth a donation, too. If a charity uses more than 25% of the received donations on salaries and overhead, they are not spending their money wisely. Who gives money to charity to see it go for high salaries, lush offices, massive overhead and general nest feathering instead of going to help those who need help?

Aside from the winning, I would still get up and go to my job every day because I enjoy what I do (mostly). It gives me something to strive for, to do and look forward to each day. And that would offset some of the need for that $10k from my lottery nest egg so I would save for the future, just as I do now.

Why not retire? Why keep working?

Well, I don't play golf and how many rounds of golf can one play per week anyway? Even hobbies become chores if they're overdone. The pleasure departs and leaves work behind.

I might buy a horse or colt for training, but how many hours per week can one spend working with their horse or colt? I had horses before and spent twice as much time caring for them than I did riding or enjoying them, particularly the colt I was bringing along. Halter training, handling, accepting blankets laid across his back preparatory to the time he would be ready for the saddle, etc. was time consuming and required a lot of patience because he's prey and I'm predator (the position of the eyes in the skull are a giveaway to that).

One thing I have thought of is buying acreage and setting up a boarding stable where people would take care of their own horses. I would have the pleasure of having them there, seeing them every day, but I would hire people to feed them and muck stalls and haul doofle (poop). That would be funded primarily by the boarding fees I would charge, so I would have the pleasure without much pain.

I would also handle this in three stages.

Stage One is drop out of sight. Ditch the cell phone and go into hiding as far as possible. I would not announce my windfall to anyone who isn't in a position of 'Need To Know' because I have no interest in having people seeping out of the woodwork to declare family relationships or beg for money for their sick Aunt Tillie.

I would hire a CPA and meet with representatives of the charities I have already identified. My CPA and I would work with them to establish annuities or trust funds managed by an outside, unaffiliated party of their choice. Not a lump sum payout, but a steady stream of revenue.

I would buy the new house, truck and other things. For the time being I would keep my current car and use that for commuting but the truck would be there, ready to go, for Stage Three which would obviously come after Stage Two.

Stage Two, several years down the road, I would take my bucket trip.

Stage Three would be returning from my bucket trip and retiring to my cabin in the woods.

Those are far enough off, though, that I won't lock myself in by saying 'I'll do this, this, this and this.' I'll leave Stage Two for Stage Two and Stage Three to Stage Three.

Now, all I have to do is win. Even one quarter of that $900M would work.

$900M/4=$225M*.55=$123.75/2=$61.875M. Not too bad. Not too bad at all. Yep, I could manage on that.

Now I'm going to go pick out my house and truck. Here I am, wishing you sweet dreams!

Best~
Philippa

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