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fantasy

Floridays

Cyburbian
Messages
769
Points
21
So this thread may have been discussed in the past...but what would YOU do if you were in this guy's position?

INDIANAPOLIS, Indiana (AP) -- A man who was laid off last week from his job at a tractor factory claimed a $89 million Powerball prize Monday with the sole winning ticket.

Tim Rivers said he and his wife, Pam, plan to buy a new house and move out of their mobile home in the town of Salem in southern Indiana.

The couple, who are both 24 and have two young children, opted for the cash option and will receive $49.9 million before taxes, a Hoosier Lottery spokeswoman said.

"Winning that much money terrified me," Tim Rivers said, adding that when he realized Saturday he had a winning ticket he immediately called a financial planner.

Pam Rivers, who works at a daycare center, said both she and her husband plan to return to school and she hopes to become a nurse.

They have a 6-month-old son, and a daughter, 4.

The winning numbers for Saturday night's drawing were: 11, 44, 45, 48, 50 and Powerball 2.
 

Seabishop

Cyburbian
Messages
3,838
Points
25
I'm glad to see someone win who really needs it.

I'd pay off debt, get a new utilitarian car (which we would do soon anyway), get a slightly bigger middle-class house, travel a little, and maybe slowly creep into real estate development. I would also try my best to completely hide the fact that I'm a millionaire from my kids so they won't end up like the Hilton Sisters. I'd try not to live much differently but know that things will be taken care of.
 

mendelman

Unfrozen Caveman Planner
Staff member
Moderator
Messages
13,901
Points
57
Seabishop said:
I'm glad to see someone win who really needs it.

I'd pay off debt, get a new utilitarian car (which we would do soon anyway), get a slightly bigger middle-class house, travel a little, and maybe slowly creep into real estate development. I would also try my best to completely hide the fact that I'm a millionaire from my kids so they won't end up like the Hilton Sisters. I'd try not to live much differently but know that things will be taken care of.
I second Seabishop!

I'll add that I would also create a trust with the money. One of the things that would be done would be to setup all children that I'm related to or will be retaled to will have their college education paid for in total.

About three weeks ago, a single powerball ticket won a jackpot of 223 million! Now that's a prize.
 

Rumpy Tunanator

Cyburbian
Messages
4,473
Points
25
I'd buy a small island somewhere and go into hiding. Really if I just won a million dollars or even $500,000 I could start my own building rehab business and Rumpy's Rampage.
 

Repo Man

Cyburbian
Messages
2,549
Points
25
The first thing I would do is quit my job, pay off any debts, and go on an extended vacation. I would probably then buy a nice lake house and maybe a downtown loft. I would then start my own business like a bar or a record/cd store.
 

Gedunker

Moderating
Staff member
Moderator
Messages
11,486
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41
They are about a half-hour drive from here. Knowing Salem / Washington County (pronounced "wooshington" or alternatively "warshington"), they are about to have a pile of "friends".

If I won, I'd be logging on to Cyburbia from Hawai'i or the rocky coast of Maine :-D
 

otterpop

Cyburbian
Messages
6,655
Points
28
I've always said that if I won the lottery jackpot I would spend it on good pot, good beer and bad women, then probably squander the rest!
 

SlaveToTheGrind

Cyburbian
Messages
1,444
Points
27
Quit my job, build and oversee a construction of a new house (traditional two story with say, 6,000 square feet total including basement) buy a nice truck, play golf every day, open a small business to teach my kids that work is essential, hide the money from my kids, give all my family members a good chunk of change, travel the world, and most importantly, donate to worthy causes in the community.
 

nerudite

Cyburbian
Messages
6,544
Points
30
I would pay off the house and hire some contractors to totally refurbish it. I really love my house, so I don't think I'd end up moving. Other priorities: paying off mom and dad's debts, buying retirement/investment properties, giving money to charity or possibly setting up a scholarship fund, making sure all of the kids go to college (including my sisters kids)... the list would go on and on. I'd also travel A LOT! :)
 

michaelskis

Cyburbian
Messages
20,173
Points
51
I would pay off my bills, and the bills that my parents and sister have. Other than that, I would invest some of it in low risk mutual funds for a year and a half. I would then buy a loft apartment on the top floor of a place in downtown Kalamazoo, but other than that, at this time in my life, nothing much would change. I would still drive the same car, keep the same job, and I would still go get my masters and my AICP. (Let my current job pay for it.

THEN:
I would start doing Urban and Downtown Real Estate… (Over all, my plans for the future would not change, they would just happen a little bit easier)

I guess I am just happy with my life, and I am going to achieve my goals even if I have to work very hard to do it. More money would mean that I would just have more money… not more happiness.

Less money however, would cause less happiness.
 

BKM

Cyburbian
Messages
6,463
Points
29
I would probably buy a nice house in San Francisco, conservatively invest the remainder and do volunteer work (not that I ever have been much of a volunteer). I am an addict of real estate porn, attending open houses and the like. I don't want a mansion, by any means. But, everything is so expensive in the Inner Bay Area that lottery is necessary (jk).

With that much money, though, I may try to partner with a couple of local niche homebuilders who do downtown infill housing. I can barely wield a hammer, but I could provide design review assistance and capital for some infill lots in my current town, which has a ton of potential downtown.

Travel, art collecting, all that stuff, too. Not sure I would choose a draining, high stress, high burnout job like nursing. I admire her fortitude.
 
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