Author Topic: How would you live if you hit a 100 mill lottery?  (Read 16061 times)

whywork

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How would you live if you hit a 100 mill lottery?
« on: July 01, 2018, 12:29:33 PM »
Forget the pressure to sound like a mustachian. Try to think of your dream lifestyle.

If you win a 100 million dollar lottery, what is your dream life style. I'll go first

Buy a huge mansion with a river like swimming pool (that runs long), Huge (Few acres) back yard
Both the kids stop school and will be schooled for 3 hours daily by private tutors that come home
We all will have fun as family in the pool
Buy a baseball pitching machine plus a batting net / cage. Keep practicing playing with myself every day having fun
Have other games in the backyard like ping pong table, tennis court, basketball court, kids play area with pump it up or jumping style games
Hire Chefs cooking food; eat out often
Frequent vacationing at different places in the US and world
Lease cars and change every 1 year; not super expensive cars; <= 50k
Backyard biking and running trials and gym equipment
Go mall shopping and eat out at mall weekly twice; The spending won't be crazy, the kids learn some frugality and restraint
Ipad and other watching for entertainment is limited to kids; They will be encouraged to read books, initially it will start with story books and then more and more non fiction

kei te pai

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Re: How would you live if you hit a 100 mill lottery?
« Reply #1 on: July 01, 2018, 12:38:05 PM »
I would get rid of pretty much all of it as soon as possible to charity. Life is good now, and excessive windfalls seem to cause nothing but grief.

Clever Name

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Re: How would you live if you hit a 100 mill lottery?
« Reply #2 on: July 01, 2018, 01:14:04 PM »
I'd buy several hundred acres (or more) in the mountains of western NC and build a modest-sized home with a large workshop. I'd probably travel a lot more frequently as well, and of course I would immediately retire. That's pretty much it I think.

matchewed

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Re: How would you live if you hit a 100 mill lottery?
« Reply #3 on: July 01, 2018, 01:50:49 PM »
Forget the pressure to sound like a mustachian. Try to think of your dream lifestyle.

If you win a 100 million dollar lottery, what is your dream life style. I'll go first

Buy a huge mansion with a river like swimming pool (that runs long), Huge (Few acres) back yard
Both the kids stop school and will be schooled for 3 hours daily by private tutors that come home
We all will have fun as family in the pool
Buy a baseball pitching machine plus a batting net / cage. Keep practicing playing with myself every day having fun
Have other games in the backyard like ping pong table, tennis court, basketball court, kids play area with pump it up or jumping style games
Hire Chefs cooking food; eat out often
Frequent vacationing at different places in the US and world
Lease cars and change every 1 year; not super expensive cars; <= 50k
Backyard biking and running trials and gym equipment
Go mall shopping and eat out at mall weekly twice; The spending won't be crazy, the kids learn some frugality and restraint
Ipad and other watching for entertainment is limited to kids; They will be encouraged to read books, initially it will start with story books and then more and more non fiction

You're going to do all the above yet somehow teach frugality and restraint. I call bullshit. You'll be teaching the kids consumerism, flagrant opulence, and that money is what keeps people entertained, solves problems, and affords a lifestyle. You won't be teaching them how to think or develop skills.

This post belongs more in the Antimustachian wall of shame than anywhere else.

Cranky

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Re: How would you live if you hit a 100 mill lottery?
« Reply #4 on: July 01, 2018, 01:55:50 PM »
Pretty much just like I’m living right now, because I’m happy just as we are. We might move closer to the grandkid, though.

DreamFIRE

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Re: How would you live if you hit a 100 mill lottery?
« Reply #5 on: July 01, 2018, 02:09:21 PM »

I would go ahead and FIRE now.  I would probably get a winter home to snowbird in the winter, maybe an RV as well while keeping my main residence in the midwest.  I would do some vacationing, of course, but I already plan to do that, but I might step it up a couple notches with $100M.  That's more money than I would ever need, so I would help out others and donate significantly to charity.

TartanTallulah

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Re: How would you live if you hit a 100 mill lottery?
« Reply #6 on: July 01, 2018, 02:16:30 PM »
Above all, keep my mouth shut about it.
Stop working.
Go on vacations that are a notch or two (no more than that, we wouldn't fit in) fancier than our current budget allows, and more of them.
Move to a modest sized house in the (expensive property, but not otherwise HCOL) town we want to live in.
Eat out more often.
Gradually give most of it away to people and causes whose lives will be significantly improved by the addition of a chunk of money.

RWD

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Re: How would you live if you hit a 100 mill lottery?
« Reply #7 on: July 01, 2018, 02:19:11 PM »
I'd buy this nice plug-in hybrid, used of course. Otherwise I would keep my plans the same; we're already at the point where more money doesn't buy more happiness.

whywork

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Re: How would you live if you hit a 100 mill lottery?
« Reply #8 on: July 01, 2018, 02:22:20 PM »
You're going to do all the above yet somehow teach frugality and restraint. I call bullshit. You'll be teaching the kids consumerism, flagrant opulence, and that money is what keeps people entertained, solves problems, and affords a lifestyle. You won't be teaching them how to think or develop skills.

This post belongs more in the Antimustachian wall of shame than anywhere else.

Well this is about dream life style. It is not about being mustachian or anti-mustachian. As I advise at the beginning of the post, we are trying to keep the mustachian tendencies aside and trying to have (imaginary) fun describing how a lot of money would be used. Yes it may be hard to teach kids frugality with all this money, but that's a hard (not impossible) problem and not the goal here.

Johnez

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Re: How would you live if you hit a 100 mill lottery?
« Reply #9 on: July 01, 2018, 02:28:58 PM »
Buy a house in Orange County, set aside a few million in a Vanguard fund to live off of, bury a million bucks in gold at my house, and throw the rest into some sort of fund, pulling 4% a year out to give to good causes (charities, worthy political candidates, NPR, PBS, etc.). And live my life as normally as possible. No boats, no fancy shit, maybe a few nice new cars, Toyota or Honda of course.

Zikoris

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Re: How would you live if you hit a 100 mill lottery?
« Reply #10 on: July 01, 2018, 02:37:12 PM »
Uh.... none of that stuff sounds remotely appealing to me. Being stuck in a giant house eating yucky not-homecooked food sounds like an absolute nightmare. I literally have big house nightmares sometimes, with scary monsters behind all the corners you can't see around. And I sleepwalk, which is really bad in a big place, because I end up getting lost and doing stuff I shouldn't, like panicking and eating a bar of soap. It happens sometimes now (last night I tried to beat a monster to death with my pillow, which turned out to be my partner's office chair), but waaaaay less than when I was growing up in a huge house. Small-space, minimalist living is a godsend for people like me, because for the most part I don't end up with weird corners and shadows that my sleep-brain interprets as other things.

As for the question, the money would really just speed up the process. I'd quit my job immediately, of course, and go get my island-life cabin/tiny house built, and wind down to live a very relaxed, low-key life. I'd do the same stuff I do now basically. Probably more traveling, but that's less of a financial issue and more of a workplace-time-off-policy issue.

I would definitely end up donating a lot to charity, because there would literally be nothing I would want to do with it otherwise.
« Last Edit: July 01, 2018, 02:39:27 PM by Zikoris »

Hirondelle

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Re: How would you live if you hit a 100 mill lottery?
« Reply #11 on: July 01, 2018, 02:39:23 PM »
Slow travel the world broke backpacker style until I get bored of it. Then get odd jobs and/or do volunteering all over the world. Spend at least 1 month/year home to see friends/family, preferably twice a year.

Donate lots of money to charities that help underprivileged/poor people and that protect the environment.

Start some sort of study fund/grant that allows underprivileged young folks to get good education.

Be generous towards friends and family, but at a rate where they don't expect/demand it. Just occasionally (i.e. picking up the bill after dinner more often, offering them to stay with me for free while traveling together).

Cookie78

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Re: How would you live if you hit a 100 mill lottery?
« Reply #12 on: July 01, 2018, 02:43:40 PM »
Hanging out at the mall? Your dream sounds like my nightmare!

I'd like to donate more and if I had that much I'd probably start a charity of some sort.

I'd sell my rental house immediately regardless of price.

I might travel more, but I'm not really sure where tbh. Maybe some sort of slow travel that allows for dogs. That's the plan anyway, I might just get to it sooner.

Or buy a teleporter. That's the one thing I truly long for that I don't have yet. How much for one of those?

BrakeForTurtles

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Re: How would you live if you hit a 100 mill lottery?
« Reply #13 on: July 01, 2018, 02:51:55 PM »
Donate $99 million to charity and live comfortably on the rest. The tough part would be deciding which charities and whether to do it as a lump sum donation just to get rid of it, or to set up some sort of charitable trust and donate the interest each year. Either way, that's a lot of toilets and access to clean water for people who need it.

Blackeagle

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Re: How would you live if you hit a 100 mill lottery?
« Reply #14 on: July 01, 2018, 02:58:36 PM »
Buy some acreage in Montana that backs up onto National Forest land.  Built a modest home there.  Alternate between traveling to interesting places and hiking and hunting in Montana.

So, pretty much what I'd like to do when I FIRE.  The only real differences would be that if I won $100 million, I could do it today, and I'd be buying first class airline tickets.

jlcnuke

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Re: How would you live if you hit a 100 mill lottery?
« Reply #15 on: July 01, 2018, 03:15:41 PM »
$100 million take-home after taxes, or $100 million jackpot? I ask because the amount you get is significantly different in the two scenarios. I'll assume it's the jackpot to start with..

After taking the cash option (dropping the amount a bunch), then paying the taxes (~45% between fed and state), I'd get somewhere around $34 million.
Of course, I'm splitting it with some family and close friends so I'm only going to get 1/2 of that amount and split the other half between my immediate family and a couple friends, leaving ~$17 million.
Step one after getting the money is quitting my job.
Out of that $17 million I took home, I'm gonna go ahead and donate $5 million to charitable causes, leaving $12 million.
With that I'm buying myself the following:
A very nice sailboat - and outfitting it for cruising the world the way I'd dream of (fully self-sustaining power and water, with A/C capabilities, dive compressor, full suite of electronics, etc). That'll run ~$500k. $11.5M left
Pay off current mortgage (~$110k now). ~$11.4M left
Invest the remainder in a 60/40 Boglehead portfolio. Live off 3.5% of that or less each year, donating what I don't spend (likely most of it as I expect to spend no more than ~20% of that on average while "living it up") to charity and randomly giving large tips to strangers, gifts to friends etc.


stclurker

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Re: How would you live if you hit a 100 mill lottery?
« Reply #16 on: July 01, 2018, 04:07:12 PM »
I would quit my job the second the funds hit my account and are officially mine. Then pay off all my debt (by far the largest is my mortgage) and then give some money to various people and invest the remainder (while allowing a small portion for frivolous spending)

Cap_Scarlet

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Re: How would you live if you hit a 100 mill lottery?
« Reply #17 on: July 01, 2018, 04:17:43 PM »
I would like to think that after a few material purchases (which would realistically be no more than $5 million) I would like to become an angel investor.

MrThatsDifferent

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Re: How would you live if you hit a 100 mill lottery?
« Reply #18 on: July 01, 2018, 04:46:32 PM »
100 million would be a nightmare. You’d be worried who your real friends are, worried that you’d be the target of scammers or people kidnapping your family. Awful. But, here’s what I would do:

—retire immediately
—pay off the mortgages of my immediate family
—set up a scholarship fund
—4 easy to take care of homes in 4 of my favorite places in the world
—travel wherever I want, flying business class and staying in the nicest places in moderate rooms
—experiencing every cultural event that interests with me with the best seats I could buy
—Have weekly massages, a personal chef, housecleaning, tennis coach, language tutor and personal trainer
—Bucket list the worlds top 100 restaurants and eat in all of them with friends and family
—dress like John Wick, all the time, except at home
—attend all the tennis Grand Slams every year with the best seats

The nice thing about what I’ve discovered about MMM, I can do all of this still on a much smaller scale over 20 years after retiring.

pecunia

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Re: How would you live if you hit a 100 mill lottery?
« Reply #19 on: July 01, 2018, 04:50:39 PM »
Move back up to the North Country next to a swamp.  I'd like it on a lake.  Then I'd build a cabin with flush toilets and hot water.  The place should have enough timber that I can easily harvest a few trees for Winter heating and to heat the bathhouse.  I'd put in a garden and raise spuds and rutabagas.  I'd gather wild herbs and berries, do a lot of fishing and take a few deer every year.

It would be a good life.

Moustachienne

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Re: How would you live if you hit a 100 mill lottery?
« Reply #20 on: July 01, 2018, 05:14:34 PM »
Well, here's what Barbara Wragge did with her big win.  A life well lived.
https://www.mirror.co.uk/news/uk-news/uks-most-charitable-lotto-winner-12578826

SwordGuy

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Re: How would you live if you hit a 100 mill lottery?
« Reply #21 on: July 01, 2018, 05:42:01 PM »
Haven't talked it over with my honey, so I expect there would be some changes in details.

I'm guessing that out of $100M in winnings we end up with $33M. 

I would set up a fund for my grandkids' education.  $500K

I would set up another for their descendent's educations.  $500K

Both would be limited to the cost of a public college or trade school education in their home state and they would have to keep their grades up to get the full amount.  Cost would be limited to 5 full time year equivalents and would cover 90% of the costs.  I think it's important for them to have skin in the game.

I would set up a fund to provide 1/2 median income for up to 5 years for post education business startup expenses.   Used wisely this would make it feasible to start a business and keep it going for a few years until it's established or abandoned and unfeasible.  The idea is to reinforce those who can be successful but not waste resources long term on those who will not be.  $3M

I would buy out the crazy cat lady next door and hire a crew to gut that house, removing the cat-piss soaked (everything!) that must be in it, then restore it.   You can smell the cat piss from the street or our yard.   I would donate the house to be used by a battered woman's group and set up a fund to cover the upkeep costs.  There's a win-win. $1M.

I would set up a $2M fund to purchase public art each year from local artists to adorn our town. 

I would set up a crafts center with a functional metal, glass, pottery, wood and textile studios, plus quarters for resident artists.   I would set up a fund to cover the basic annual expenses to staff and run it.    Once that was established I would look at expanding it to cover 3d modeling and machinist training, plus set up a maker space and a business entrepreneurship center.  The latter would be modeled after https://www.popupbusinessschool.co.uk/ to help those will few to no resources start up their own businesses.  100% scholarships to those who are poor.  $20M.

$1M to our son.

$2M to a trust for our mentally handicapped daughter, with ownership rights to any left over at her death to revert to my wife and I or our son and his descendents.

That's $30M.

That leaves $3M to invest in index funds for ourselves.    An extra $120K at year at 4% is more than enough to let us do anything extra we would want without financial worry.

Anything more could go to education and trade school scholarships in our community.


I'm really curious to know if that kind of investment in a community with a population of 225K would make a measurable difference.

This would be expanding opportunity to a lot more folks.   It only takes a couple of winners to transform an area economically. 

If it worked over the next 30 years perhaps others would copy it and adapt it to their area.















firelight

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Re: How would you live if you hit a 100 mill lottery?
« Reply #22 on: July 01, 2018, 05:43:22 PM »
Assuming it's 100M take home jackpot, I'll spend $20M into investments and a house in Woodside, CA or SF proper. The rest, I'll put it in 70/30 vanguard funds and use the 2% of it every year on my expenses and charity. I'll buy a town in my home country and make it the model town. That's my dream which I don't think can be achieved by just my salary.

Laura33

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Re: How would you live if you hit a 100 mill lottery?
« Reply #23 on: July 01, 2018, 06:01:32 PM »
With $100M net, first, I'd hire a tax lawyer.  :-)  Then I would set up a charitable foundation with @$50M of the winnings (in the same year so that the deduction offsets that part of the winnings). 

Then I would give each sibling $1M net (meaning I pay the gift taxes so they get $1M -- this is why I hire the tax lawyer, to make sure I do everything right), and offer them sessions with a fee-only financial planner if they choose.  Then I throw $100K into each niece's/nephew's 529. 

Then I see my own fee-only planner and set up a chunk in VTSAX or the equivalent, a CD/bond ladder, and an appropriate amount per the advisor's advice for "fun" stuff and future investments (see below).   

Then, my house:  I hire the best energy-efficiency engineer I can think of and rip my really really old house apart and put it back together with awesome insulation and improved HVAC and solar/geothermal and all that.  Save and replace all the original trim, strip and refinish trim back to original fir.  I hire a fucking arborist so I can maybe get some fucking fruit from my fucking fruit trees.  DH expands his shop so that it is Norm-worthy.

DH upgrades his car.

Definitely for year one, we keep kids in regular schools here while we decide about any life changes.  I need to keep at least part of my job for a while to train up a replacement; DH will need to consider whether he wants to step away from the tech entirely, or see if he can negotiate some other part-time role.  Goal would be for us to have at least a month at a time to just go be somewhere, several times a year, and/or take the summers off if we keep the kids in regular school (which we probably do, so they have a "normal" childhood).

Then, the grand plan:  As we visit places that we love, I buy a series of 2- or 3-Br condos.  I hire a property manager to manage the details.  I then rent them out on AirB&B or the equivalent, except when I'm using them.  The one exception is the Piedmont, where we buy a home in which we can build a real wine cellar.  ;-)  And I would totally love to completely rebuild a castle somewhere for a few years.  I just really, really love old character buildings and think it would be awesome fun to save/rehabilitate them, especially if I don't have to worry about making a profit.  Maybe then turn things into B&Bs or something similar that can potentially add to the local economy.

Then while I am home, I get to figure out what the charitable foundation gets spent on.  Definitely something at DS' MS, which is in a less prosperous area; I am really seeing up close how much of a difference that makes in terms of the "extra" stuff the kids have offered to them.

protostache

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Re: How would you live if you hit a 100 mill lottery?
« Reply #24 on: July 01, 2018, 07:42:31 PM »
Quietly.

undercover

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Re: How would you live if you hit a 100 mill lottery?
« Reply #25 on: July 01, 2018, 09:01:25 PM »
The exact same way I'm living now with < $1M net worth. Honesty, I don't think anything would change. Actually, I know it wouldn't. It's already been proven.

Beyond living comfortably, I'm more concerned with accomplishment and challenge than I am with spending. You can only be in one house, eat one meal at a time, be fully engaged with one person at any given time, etc. Travel is pointless unless you have a specific reason to go. Yeah, my life wouldn't change at all. If anything I'd probably become depressed from a severe lack of need to do anything.

I want to puke and revoke my membership to this forum after reading the post above mine.

Money can't make you more attractive, smarter, talented, etc. And that's a good thing. People crave challenge and accomplishment. Receiving a huge windfall makes it harder to find bigger and better challenges since you are suddenly put in a position where doing 99% of things seems pointless unless you've already tempered your skills to the level that it would take for the world to deem you deserving of that level of wealth.

Zamboni

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Re: How would you live if you hit a 100 mill lottery?
« Reply #26 on: July 01, 2018, 09:38:56 PM »
I'd do everything in my power to keep my identity a secret

 . . . . and contract a private jet service, bc everyone knows flying commercial is for the plebs.

Lmoot

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Re: How would you live if you hit a 100 mill lottery?
« Reply #27 on: July 01, 2018, 09:58:21 PM »
You're going to do all the above yet somehow teach frugality and restraint. I call bullshit. You'll be teaching the kids consumerism, flagrant opulence, and that money is what keeps people entertained, solves problems, and affords a lifestyle. You won't be teaching them how to think or develop skills.

This post belongs more in the Antimustachian wall of shame than anywhere else.

Well this is about dream life style. It is not about being mustachian or anti-mustachian. As I advise at the beginning of the post, we are trying to keep the mustachian tendencies aside and trying to have (imaginary) fun describing how a lot of money would be used. Yes it may be hard to teach kids frugality with all this money, but that's a hard (not impossible) problem and not the goal here.

 I agree with another person that this lifestyle, big house expensive car, aggravation of leasing a car and having to follow the lease rules and guidelines, the wastefulness of a humongous pool, having service people in and out of my home and taking over the most mundane parts of my life such as cooking, being at the mall, any mall, at any time much less twice a week....sounds horrid.

I guess there are certain people that have to work at the mustachian-esque  lifestyle, but many people are naturally drawn to that lifestyle and it has nothing to do with the creator of this blog. No I’m not going to act all holier than thou and pretend like I wouldn’t bump some things up, I certainly would. But I’ve never been attracted to the typical American/western consumerist lifestyle, not just for lack of funds but just pure taste and desire to not be any more wasteful than I already am.

 That being said, I would use my money in ways that would benefit me and also other things I cherish. One of those things would be partnering with conservation organizations to purchase land in order to keep it safe from developers. I would have access to the land and be able to feel good knowing that it will be safe for wildlife for many years. I would of course buy some acreage for myself to develop in terms of a homestead and trails. I’d start a parrot rescue and santuary; so many people get parrots without realizing how much attention they need (flock animals!) and the poor things get locked in their cages for 30+ years, eating seed or bland pellets their whole life, never feeling the breeze or the sun.

 I’d stop working so that I could go back to school and just enjoy a lifetime of learning everything I’ve ever wanted to learn. I’d want to make a difference. Once I got all the things that I am already working towards, and after buying old houses and fixing them up for rental properties (so I’ll be set) I would likely donate the rest of the money, because it changes you and can change those around you and I wouldn’t want that to happen. I would also try to keep my mouth shut, or at least not let on how much exactly I won. I’d buy a new model crossover vehicle, economy level And give enough to my siblings and parents that they can choose how to spend the rest of their lives as well.
« Last Edit: July 01, 2018, 10:07:57 PM by Lmoot »

TheAnonOne

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Re: How would you live if you hit a 100 mill lottery?
« Reply #28 on: July 01, 2018, 10:26:30 PM »
With $100,000,000 I would love to say that I would live 100% exactly the same. That's only semi-true. I do some autoX(racing) now, I would continue that but maybe with more of the "wants", maybe I would do more actual track days.

When I build my next gaming PC, maybe I won't care if the top-of-the-line stuff totals a whole $500 more.


This applies to most hobbies of mine and I assume most of you as well. If someone here loves to work with wood, with 100 million dollars they wouldn't spend a pittance of that to get a bigger shed with a few nice tools?

I live in a small townhome, maybe I would get a single family house nearby and hire someone to do the things the townhouse association does now(grass/snow)


Point is, you can help people, your family, your town, invest literally 10+ TIMES what you need to live and still donate more to charity than 99.99% even if you let your hobbies grow a bit.


Imma

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Re: How would you live if you hit a 100 mill lottery?
« Reply #29 on: July 02, 2018, 02:16:07 AM »
I am naturally frugal, so I can't imagine I'll buy a mansion or a sports car. I would love to buy a rural property with lots of land and ideally some outbuildings for a workshop and a sewing studio and a music studio for my s/o. I would also like to have a few guesthouses for friends or family in need. I would love to be able to care for my elderly grandma at home when the time comes that she needs care.

I'm doing a master's degree in tax law but I would hire someone more experienced than me to help me find the most tax-efficient way to invest the money for charity (we have a wealth tax in here) . One of the most important things I would like to do with the money is to fund medical research. I have an auto-immune disease myself and one of the biggest problems for patients is that a lot of medical research is funded by the pharmaceutical industry. When they discover a new medicine, they have a limited time to earn back all the money they put into research and make a profit, which is why medication is expensive. When research is funded through charity, medication will be a lot cheaper which will make it more accessible to patients who pay out of pocket and save the taxpayer money when they pay for it (my meds alone cost about €25.000 / year) . 

Low-income housing is also a cause that is important to me. I think it's entirely possible to provide this in my country and just about break even, but you're not going to be making a lot of profit so it's hard to find investors.

If I have some time left over after caring for my family, looking after my farm and managing my charitable donations, I'd love to pursue a PhD myself. In some ways, this dream life is not extremely different from the life I lead now, I assume my values will be the same, but it would make achieving certain things a lot easier. On the other hand, I don't think you should underestimate the heavy burden of responsibility over a fortune like this. I think life is much easier after a 1 or 5 million windfall than it is after a 100 million windfall.

marty998

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Re: How would you live if you hit a 100 mill lottery?
« Reply #30 on: July 02, 2018, 02:19:48 AM »
Quote
How would you live if you hit a 100 mill lottery?

Not frugally and not mustachianly.

aGracefulStomp

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Re: How would you live if you hit a 100 mill lottery?
« Reply #31 on: July 02, 2018, 03:44:37 AM »
Buy a small house. Buy a reliable safe car. Buy a beautiful piano.

I would invest the rest, and have an insane annual income (which I wouldn't come close to spending even if i tried).

In terms of what I'd do: quit my job + buy a dog + spend the next 2 years on a massive road trip round Australia with said dog.
« Last Edit: July 02, 2018, 04:27:09 AM by aGracefulStomp »

Bateaux

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Re: How would you live if you hit a 100 mill lottery?
« Reply #32 on: July 02, 2018, 05:35:40 AM »
I'd head to Maine to start a south bound Appalachian Trail through hike with really nice and lightweight gear. 

Finallyunderstand

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Re: How would you live if you hit a 100 mill lottery?
« Reply #33 on: July 02, 2018, 07:03:20 AM »
I'd buy several hundred acres (or more) in the mountains of western NC and build a modest-sized home with a large workshop. I'd probably travel a lot more frequently as well, and of course I would immediately retire. That's pretty much it I think.

This, but maybe Colorado or someplace out west.  ATV's, dirtbikes, campfires in the woods with the family and kids.  Life would be a huge outdoor adventure. 

GuitarStv

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Re: How would you live if you hit a 100 mill lottery?
« Reply #34 on: July 02, 2018, 07:07:11 AM »
I'd put a couple million in the bank, and give away the rest.  Then I'd quit my job and take my family on an extended bike tour for a few years across North America.

Bateaux

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Re: How would you live if you hit a 100 mill lottery?
« Reply #35 on: July 02, 2018, 07:09:54 AM »
I'd put a couple million in the bank, and give away the rest.  Then I'd quit my job and take my family on an extended bike tour for a few years across North America.

I'll second that!

Fishindude

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Re: How would you live if you hit a 100 mill lottery?
« Reply #36 on: July 02, 2018, 07:10:39 AM »
Take good care of all of my family members and close friends.
Give a lot away to charity in my communities.
Buy more real estate.
Do a bunch of fun wasteful stuff.

RWD

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Re: How would you live if you hit a 100 mill lottery?
« Reply #37 on: July 02, 2018, 07:17:49 AM »
I want to puke and revoke my membership to this forum after reading the post above mine.

Fortunately it looks like that post was deleted. I was similarly disgusted. The poster only had two posts at the time so I'm assuming (hoping) it was just a troll and not indicative of the type of people we are attracting now. (for anyone curious, the post was essentially about buying companionship)

PDXTabs

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Re: How would you live if you hit a 100 mill lottery?
« Reply #38 on: July 02, 2018, 07:33:59 AM »
I would definitely give at least 93% of it away, maybe more. I would definitely execute my plan of living in Lisbon earlier rather than later. But it would give me enough money that I could own an extra condo or two (say in Portland and Edinburgh?) and to charter a sailboat whenever I felt like it.
« Last Edit: July 02, 2018, 07:38:23 AM by PDXTabs »

wenchsenior

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Re: How would you live if you hit a 100 mill lottery?
« Reply #39 on: July 02, 2018, 07:37:22 AM »
We would set up a research grant institution and start funding all our 'fantasy' research projects. In some ways, it wouldn't be that much different than work my husband does now, except more of it, more $ spent on it, and more concentration on questions that don't attract much in the way of research dollars.  Man, that is a happy thought....it would be amazing.

I'm a red panda

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Re: How would you live if you hit a 100 mill lottery?
« Reply #40 on: July 02, 2018, 07:40:48 AM »
Probably like I do now with a lot more travel.

I suspect I'd have to move to a house in a gated community with more security; but I still don't think I'd want a home much more than $1mil; it's a lot to clean and a lot to clutter up.  I'd probably buy 2nd and 3rd homes (maybe condos) near a few of my closest family and friends to be able to visit more often.

I might leave my job so I am able to travel, but would like to do a lot more volunteer work; maybe work some political campaigns, get on a few more non-profit boards.

asauer

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Re: How would you live if you hit a 100 mill lottery?
« Reply #41 on: July 02, 2018, 07:43:30 AM »
I would buy 10 acres of land for a non-livestock homestead and the accompanying equipment to start up.  I'd set up my sister so she doesn't have to work.  Create a trust for my kids, set up a very large charity foundation, and plan to travel extensively.

Raenia

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Re: How would you live if you hit a 100 mill lottery?
« Reply #42 on: July 02, 2018, 07:50:29 AM »
Buy a few acres and build our dream house on it (architect designed along not-so-big-house lines), set aside a generous 3 mil to live off, set up trusts for my relatives (parents, in-laws, siblings, probably 1 mil each), and use the rest for charity.  Probably some combination of building low-income housing in my city, helping people released from prison get back on their feet and reintegrate in society, and lead remediation.  Those are all areas I feel are neglected, and have a good ROI for society.

Davids

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Re: How would you live if you hit a 100 mill lottery?
« Reply #43 on: July 02, 2018, 08:10:20 AM »
I would keep it a secret. I live in a state where you can't be anonymous so I would create an LLC so I can have my anonymity. And since I will be anonymous I won't tell you how I'll spend and save it.

Dragonswan

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Re: How would you live if you hit a 100 mill lottery?
« Reply #44 on: July 02, 2018, 08:29:13 AM »
This is a well used day dream of mine with lots of minute details filled in but I'll just hit the highlights.  I'll work with the 34 million after taxes and annuity rule losses.

4 Million to my religion, 2 million to each of 3 siblings, 1 million to each parent and 1 million each to the niece and nephew. That's 13 million right there.  One million each to AZ opera, Phoenix Symphony and Long Beach Symphony.   An additional million gets split between NPR, Phoenix Black theater Troupe, Harlem Opera, Rosie's house, and some form of animal shelter.

The other 17 million is for my extravagant lifestyle.  I have a home base condo in the Queensbridge Las Vegas.  A summer home either on Catalina Island or Newport Beach, CA.  Then possibly a condo on the Amalfi Coast as a home base for my European travels. A Tesla Model S in Nevada, tricked out Gulf cart if I'm in Catalina or Jag F-type convertible if Newport Beach.  Once I settled down from around the world travel, devote more time to religious activities and try to get on the board of one of the classical performing arts non profits.

PhilB

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Re: How would you live if you hit a 100 mill lottery?
« Reply #45 on: July 02, 2018, 08:48:29 AM »
Keep practicing playing with myself every day
So am I the only one who sniggered when they read this bit?

Villanelle

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Re: How would you live if you hit a 100 mill lottery?
« Reply #46 on: July 02, 2018, 08:54:23 AM »
>2000sqft house in Coronado, CA, with one car and a golf cart.  Likely a second home in Skye, Scotland.    Possible additional vacation homes (Sorrento, Venice, Barcelona, Vienna, London, Budapest,...? Narrowing it down would be the most difficult part!) but I couldn't be that wasteful so they'd all be vacation rentals when we weren't in them. 

Work on trying to get DH to quit his job. 

Travel our asses off.  I imagine we'd spend at least 1/3 of our time away from home, and likely more, especially if we had the second Scottish home.

Also, all of our immediate family members (parents and siblings) would be invited on an all-expenses vacation with us.  I love the idea of having that time together with the people we love most. 

Argue with DH about how much to give family, and how.  I'd want to set up college funds for the niece and nephew (DH's brother's kids) and perhaps give modest amounts to his brother and my sister.  Likely something for his mom (Perhaps paying off her house) and then to my parents who don't need it but it would feel weird to give to his mom and not them.  This would be a source of much disagreement, i suspect, because I think turning on this tap would create expectations, given the personality of the of the people in question.  Maybe I'd just suggest that his fairly sizable pension become his family life-support fund, to include all gifts and anything else, and he can give them as much or as little of it as he wants, but it would never, under any circumstances, be a penny more than that.   Then, I'd cringe and try to ignore it all and to not say "I told you so" when it makes lives and relationships worse instead of better! (Truly, this topic and the outcomes would be a huge source of stress, I suspect!)

I'd fund some favorite charities, and DH would surely do the same, likely also becoming much more involved.   And there are lots of smaller philanthropic things I'd like to do, like paying off overdue school lunch accounts in random schools in depressed areas.  I imagine those sorts of undertakings would call to me so much that I might have to set a specific budget for myself. 

There are very few other things that I want and don't have.   

Prodigal Daughter

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Re: How would you live if you hit a 100 mill lottery?
« Reply #47 on: July 02, 2018, 08:54:56 AM »
Wow, the topic intrigued me, but I didn't expect to see such an over-the-top scenario right out of the gate.

I have my answer easily available bc once a year or so some colleagues and I will buy a ticket when the jackpot gets crazy big, like nearing 500 million.

Quit my job, but leave them with a nice parting gift of $1mil (I work in fundraising for my alma matter so...). At my other alma matter, give a sizable gift to their endowment.

I would pay off my house and invest a good chunk. I would remodel my house, but nothing over the top. Just the stuff that needs doing but is currently on a wait-list. I like our smallish house, but adding a second bathroom and renovating the kitchen are just dreams at the moment.

Then I'd try to buy some property on my block. There are several houses that are currently rental units. Only one seems to have a slumlord and constant stream of unsavory characters, so no matter the cost to buy the house from the current owner. I would buy it, gut it, turn it back into a single family home and sell it. Possibly even at a loss, just to get a nice family in there. :) Then there's another house that seems vacant - but someone was doing yard work there the other day. It could use a little sprucing up, so again, maybe buy and flip it, just to give it some love.

Obviously I would establish college funds for my kids, and not worry about how I'm going to cover their high school tuition. I would also probably look at buying some property near my parents and building a small house overlooking the Mississippi River so that we could spend a good chunk of the summer there.

I would buy a Tesla, and maybe a new, small, SUV that we could use for family road trips. We'd just travel on all school breaks and summers. That's it. A life of roaming the country/world with a nice, small, home base. Oh, and hire out the cleaning and yardwork, obviously. :) I think even just a few years ago, my day dream would have been more materialistic, but time really is the greatest luxury. I don't want to waste time caring for "stuff".

Oh - I saw someone mention a donation to NPR. I would slip them a cool million as well.

TheWifeHalf

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Re: How would you live if you hit a 100 mill lottery?
« Reply #48 on: July 02, 2018, 08:59:15 AM »
My lives would probably not change too much, because this is my dream life, but I suspect TheHusbandHalf would join several golf courses, even the ones more expensive than the one 3 miles away (which I suspect is the cheapest).

Our kids' lives would change because they would get a share of the money now, rather than having to wait until we die.

FIRE@50

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Re: How would you live if you hit a 100 mill lottery?
« Reply #49 on: July 02, 2018, 09:03:30 AM »
I don't want a large house, but I want it to be a quality home with all the little touches that I like. It would be built on a lot of land that would be 99% trees. Probably somewhere out west in the mountains. I would also own about a dozen really cool cars.

My hobbies would continue to be hiking, golfing, and traveling.

I would setup a scholarship fund for family members.

I would rarely sleep in my house or drive my cars because I would be travelling most of the time.