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what car?
If you hit the lotto.... what would be your decisions in the first week of your new found wealth?
This is something I often think about, my failing is that I hardly ever play the lotto so its pretty much a pipe dream.
I only play it when its around $100 million or more.
having said that, if I hit it with that type of money, this would be my plan.
1. Pay off all of my immediate bills. Car, credit cards, loans. I only owe something like $40,000 and thats including my new car.
2. After paying off my immediate bills, hire a financial advisor and outline a plan with them as far as what I intend to do and what I want in the future.
3. I've always told myself that if I was lucky enough to hit the lotto, I would donate at least a cool million to the Carver Academy or something like that.
4. Hook up all my friends and family with a large ammount. Say if I won like $100 million. Giving all my friends and family a cool million each, even after taxes, isnt going to hurt me much with that kind of money. Im talking close friends and family, not people I just "know". I can think of barely 20 people that would fit that description. Takes care of the mooching and right off the bat. Plus, Im just that type of guy. I always help out my friends and family when I can.
5. I'd stay in my same home. Its been my home for 30 years now. But I would pimp it up like crazy.
6. Take a full year for vacation and just travel the world in that year. After that, buckle down.
7. Open a bar or something like that. Be my own boss. I know how to run a bar and I've got a friend that has managed a friends bar for 5 years. He would go in it with me. We've often talked about opening our own place together. We probably will do it in any case within the next 5 years or so.
What would you do if you hit it big?
Last edited by phyzik; 07-13-2010 at 12:35 AM.
what car?
cool ideas. I'd do a lot of the same :
1) hook up the close family and friends
2) pay off all bills/loans/etc,
3) donate to a good charitable cause
However, I'd buy a new house (currently live in an apt), but nothing fancy where the taxes would be murdering me 30 years down the road when I've invested/spent most of the money. Maybe something for $120-150k or so, nice 4/2 with a big yard.
I'd also hire a financial adviser after I bought the house, and put aside all the bills including projected inflation etc for the next 50 years or so, immediately, that way I'd never have to worry about bull like taxes since its already set aside.
Opening a bar is a badass idea. I'd probably do that since it doesn't seem too expensive (relative to $100 mil). I'd like to open some kind of publishing company, but that's just a random idea.
2009 Pontiac G8 GT
Here's a few pictures just after I bought it back in November 2008 (Edited post). We had just installed my Vararam intake and painted the coil packs. Have done some stuff since then but no new pictures.
BTW, the guy in the picture is not me, Im a cracker, thats just a friend.
Last edited by phyzik; 07-13-2010 at 02:03 AM.
enjoy it while I could, wake up and go to work
We talking 100 mil? Retire for sure. Maybe buy stock in a company with a boss that did me wrong...try to make his life .. could be a side hobby. Take care of the friends and family and move to some island.
when you win the lotto, do a holden front end conversion on it
Yeah, I looked at the whole body kit, just over $3000
You pretty much have to do the whole thing, otherwise it wont line up right.
Im focused more on performance right now. I can walk away from a 2010 Camaro SS like nothing. Havnt had it dyno'd but Im probably pushing close to 500hp
I would not tell anyone.
If it's 100 million or more...after ridding myself of loan, medical, and credit card debt I'd travel around the country on a bus with a group of doctors treating children that have no insurance or in areas where access to medical care is difficult. In addition, the children that need speciality care (which would probably be a decent number) I'd try to hook them up with care as best as possible. There's been some TV specials on it, I think it'd be worthwhile to do but I wouldn't tell anyone that I'm responsible for it.
I'd clear any debts of my mentors (teachers, administration, co-workers, doctors that helped me) too, and set-up scholarships at my high school and college. If I stayed in San Antonio, I'd put on a Tejano festival in the Summers with low-rider shows, music, and raspas. Whatever I have left over, I'd save to make sure my family doesn't have to worry about things until at least another generation.
Before I did anything with the money, I would make sure that I had the money in my possession and that it wasn't going to be taken away from me. First thing I would do is pay off my college loans. After that, I would invest a lot of it in CDs, mutual funds, savings accounts, and maybe some stock. The only big spending I would do in probably the first year would be to travel and see the world. I would also help my relatives with their bills and probably give them a few million.
Last edited by Jacob1983; 07-13-2010 at 12:54 AM.
also when you win the lotto sell it and get a gxp, the last Pontiac everYeah, I looked at the whole body kit, just over $3000
You pretty much have to do the whole thing, otherwise it wont line up right.
Im focused more on performance right now.
I like the GXP.... but this car is "mine" if you know what I mean. I dont think I could part with it. At the time I bought it, it wasnt known that the GXP was coming out otherwise I would have waited.
Maybe buy a GXP and leave my GT the way it is to use as a daily driver and start working on the GXP.
, that, if I went that route, I'd buy a G8 firehawk.
Last edited by phyzik; 07-13-2010 at 12:57 AM.
Buy SpursTalk
But really.. I'd give money to my family/close friends. Buy a nice house. Nice cars, I'm a bit obsessed with sports cars.
Invest, purchase companies or some franchise(s) to maintain income.
I used to work for Washington Mutual. There was a customer that had 3 CD's with 1 million each. Each CD would deposit the interest that was made each month into another account. The guy was living off of just that. It was an inheritance or something like that.
Just think..... 1 million dollars could get you, depending on interest rates, around $5000 a month. I could live off of that EASY!!!
I talked to him one time. He had it set up where 2 of the CD's interest went into a checking account and the other 1 millions interest into a savings account which he used to pay taxes at the end of the year.
I wanted to kill him and take his iden y.
nvf-194, if any rich heirs go missing in texas and there is a reward that is the license plate number i am giving to sapdI used to work for Washington Mutual. There was a customer that had 3 CD's with 1 million each. Each CD would deposit the interest that was made each month into another account. The guy was living off of just that. It was an inheritance or something like that.
Just think..... 1 million dollars could get you, depending on interest rates, around $5000 a month. I could live off of that EASY!!!
I talked to him one time. He had it set up where 2 of the CD's interest went into a checking account and the other 1 millions interest into a savings account which he used to pay taxes at the end of the year.
I wanted to kill him and take his iden y.
I have customized plates now. That was almost 2 years ago. I posted that those pictures where in 2009 but they where not. The car is a 2009 model but I bought it November 11th 2008.
Not that I ever seriously thought about killing anyone though.
If you must know, the plates read as USAYGO now ("You Say Go" for the drunks that cant figure it out). Keep that on record instead.
For some reason, cops dont like my plates.
Last edited by phyzik; 07-13-2010 at 02:02 AM.
I'd probably buy my parents a home in either Hawaii, Santa Barbara, or San Francisco, then buy myself a small place in the Eastern Sierras and maybe one in Colorado or Montana. Then pay my brother's tuition in school, set up a retirement fund for my parents, make a couple of donations to MIT Opencourseware and the Free Software Foundation, and invest the rest in low-risk stuff. Maybe get a Ph.D in math.
Buy a rockin house in the Pedregal in Cabo. Buy a 46' sportfisher. Cocaine and high dollar hookers.
Last edited by CosmicCowboy; 07-13-2010 at 03:19 PM.
Move to Amsterdam.
2 chicks, man. At the same time.
I'm just not sure I could see myself giving my family members a million dollars each. I do think there is a difference between winning an amount where you have to be smart about what you do, and one where you don't. If you won 100 million Uncle Sam would take like 40 so you'd be left with 60, so if you wanted to you could give 20 million away to family and still have 40 million left over.
For me though I couldn't see myself giving away 1/3 of my money away to family. I guess it depends on how poor your family is, but my family does well as a whole in general, and have never needed any money from me, and wouldn't if I won the lottery.
At the end of the day I just couldn't see myself doing that, I could think of a lot of other ways I'd rather spend my money. Maybe I'd do the CD thing where I put the money in a CD and deposit 5K into a savings account for them. If the rates workout as posted that's 60K dollars a year and it doesn't cost me a cent, I still have my million dollars.
They'd probably just blow the anyway and come asking for more, because while it may be hard to blow 100 million, I bet it's pretty easy to blow 1 million, especially if Uncle Sam wants a piece (There may be a way to avoid some of the tax since it's a gift).
I would do nothing.
Well, you don't need a million dollars to do nothing, man. Take a look at Mouse: he's broke, don't do .
Yeah the more I think about it, there's just no way.
Take my dad for instance: He's in his early sixties and ready to retire. The only reason he hasn't is because my step mom still has a couple years before she can. He just bought a brand new Toyota Avalon and lives in a nice home he just bought a few years ago. I don't even know what he'd do with a million dollars if I gave it to him, he really wants for nothing.
What I probably would do though is buy him something he'd never buy himself, sort of a dream purchase. He's always liked the older Mustangs, so maybe I'd spend 50K on a restored (Or whatever condition 50K gets you) 65 Mustang, or a 67 Mustang fastback.
He's also talked about buying an RV when he retires so he could travel. Now I'd probably be inclined to buy one or the other, but even if I bought both and he hitched that Mustang to the back of that RV ( ing sweet setup), we're still only talking about 150K.
I'd either do the CD thing or a one time gift of 100K MAX, and not for 20 people, maybe for 10 MAX.
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