Apr 5, 2012 at 8:45 am #1288337
@keith_bassettLocale: Pacific NW
Win the lotto, have your mysterious billionaire relative leave it to you, etc. You end up with $100 million dollars.
What would you do with 100 Million Dollars?
I'll start, with my unexciting but very real answer. :)
I would pay off any remaining debt, buy a few hundred acres in the North Cascades then build a small but well equipped home there.
With the remainder (and that should be about 99% of it) I would then set up a trust to manage the funds and pay a nice yearly dividend that would cover our living expenses(costs, philanthropic endeavors, wild hairs, etc.), and provide for my family in case of something happening.
After that, it would just be a matter of filling my time doing things that I love. Starting a small business, hiking, spending time outside with my family.
KApr 5, 2012 at 8:55 am #1863952
Hiking MaltoBPL Member
Leave immediately and attempt the triple crown in a year. Scary thing is that I have a rough plan on how I would do it.Apr 5, 2012 at 9:01 am #1863956
Steofan MBPL Member
@simauliusLocale: Bohemian Alps
Check in with my accountant and lawyer first.
Major purchases would be a new Subaru and a Go trailer.
Major lifestyle change would be leave town with my hiking buddy and hit the road.Apr 5, 2012 at 9:03 am #1863957
Art …BPL Member
the average person can not handle the stress of a $100 million.
would cause more unhappiness than happiness.
you should reduce your question to $10 million.
you could still easily do everything you mentioned above.Apr 5, 2012 at 9:08 am #1863959
Joe ClementBPL Member
Anything I want. And date cheerleaders.Apr 5, 2012 at 9:12 am #1863962
3)Apr 5, 2012 at 9:16 am #1863964
@keith_bassettLocale: Pacific NW
That number was inspired by this article and the Lotto winnings from last week.
Interestingly, the doctor in the article says that people adapt to having untold wealth very rapidly. You end up being as happy or unhappy as you were before it, because your happiness is a function of who you are as a person not how much you have.
And with this last weeks Lotto, it seemed to be the question in the air. :)Apr 5, 2012 at 9:34 am #1863973
Daniel CoxBPL Member
@cohikerLocale: San Isabel NF
It would depend on how I acquired the money. If I won the lottery, I'd actually only be awarded 50 million (prize equals half of total ticket sales), and Uncle Sam is gonna want his share in taxes come next April, so I'd actually end up with only about 25 million, give or take.
Personally, I haven't given it much thought, but off the cuff:
I'd build a new house, probably in the same neighborhood as I live now.
I'd pay off my bills and student loans, then pay off my parents and In-Laws bills.
Buy two new cars, nothing fancy, I'd like a Honda Ridgeline, maybe a new Jeep for my wife. I'd upgrade my In-Laws 5th wheel and truck, theirs is kinda dated. Do something roughly equal for my parents. They don't RV camp, so I don't know.
Set up college funds for my son and maybe a few other friends/family members that couldn't go to college without it.
I'd donate a good chunk to some real charity, or medical research.
I'd conservatively invest the rest to ensure I never need money again.
I'd finish my grad school, and still work.
And I'd enjoy looking at my 7-figure bank account.Apr 5, 2012 at 10:12 am #1863980
@socal-nomadLocale: North San Diego county
Buy 25 to 50 acres of land with a stream running trough it with a small town nearby. Leave most of it wild land except 1 and half acres for home ,farming,pond right in the center of the property. Go off the grid and build a small 600 Sq.Ft. Rammed Earth ship house Like Dennis Weaver built. Install solar,wind,water power with a big battery bank system for energy, dig a well for water. Dig a small pond for the stream to flow in out of and a farm about 1 acre of land for food. Basically a self sufficient house that totally off the grid.
Vehicle: Get a 67 Volkswagen van with lots of spare parts and engines and also extra vans to replace the old one if totaled in accident. You may ask why a Volkswagen van because they are very easy to work on by a normal person I also know how to work on them.
Travel around to my favorite backpacking and surfing spots once in while.
Put money in regular saving account live off the interest . Help a few of my relatives who are struggling right now with gifts of money.
Basically live a simple life that I like.
TerryApr 5, 2012 at 10:21 am #1863983
…Apr 5, 2012 at 10:39 am #1863989
Ben 2 WorldBPL Member
@ben2worldLocale: So Cal
If 100 million falls on my lap — I'd pay off the taxes — then keep $2-3M for myself and donate all the rest.Apr 5, 2012 at 10:41 am #1863990
Ben 2 WorldBPL Member
@ben2worldLocale: So Cal
Forgot to add: all donations will be made anon. Not even my family will know about this money. :)Apr 5, 2012 at 10:47 am #1863993
@tylerdLocale: SE US
I would build a nice house on a nice lake someplace, it would have geothermal, solar, wind power, battery storage, on a well with a backup well, etc. Basically off the grid with $0 utility bills and low maintenance. I would have a couple cars and a couple boats, an awesome dock with outdoor kitchen. Not a mansion, maybe 3,000 SF but really nice, gated on about 4-5 acres, any grass would be fake grass, zeriscaped landscaping, fruit trees and bushes all over the property, nice garden setup, maybe some chicken coops and a few goats. I would put enough money into a savings account/trust that it would perpetually pay the taxes on the house and add back to the principal to account for future tax increases. This way even if I was broke I could keep and live in this house with little to no bills, no worry about paying the taxes.
I would buy a couple nice vehicles, like maybe a fully loaded Tahoe for me, I know my wife wants a Range Rover. I would have a ski boat and a pontoon boat.
I would immediately start shopping at Fresh Market or Whole Foods and constantly have my house stocked with wholesome, organic food, tons of fresh fruit and vegetables. I would learn to cook chef quality healthy food dishes so that I was constantly supplied with healthy food options. In conjunction with that I would start a daily exercise routine including Cross Fit, jogging, biking, weight lifting, yoga, mix it up and just get really healthy. No fun being rich if you aren't healthy.
From there I would just take it easy, travel some and figure out what I wanted to do with my life, probably start or work for a charity benefiting children and/or animals once I got bored doing nothing.
Anything else I would wanted I would rent. No need to own yachts, islands, multiple homes when you can just rent any of that that you want.Apr 5, 2012 at 12:22 pm #1864032
Eugene SmithBPL Member
@eugeneiusLocale: Nuevo Mexico
Purchase a huge plot of wild land in northern NM Sangre de Cristos and open up that jackelope ranch I've been dreaming of.
Build an intricate trail network for running on said plot of land.
Build up a race directing business and staff and put on the best trail running/ mountain ultramarathon events in the southwest.
Establish a backcountry program for at risk NM youth.
Build a dream darkroom and wet lab outfitted with analog photography equipment.
Give away a considerable amount of that wealth so that I don't completely screw it all up.Apr 5, 2012 at 1:39 pm #1864069
Daryl and DarylBPL Member
@lyrad1Locale: Pacific Northwest, USA, Earth
I don't think it would change the way I live at all. I like to live a modest life style and have enough to do whatever I want to do.
So it would be mostly be given away to good causes. Preserving animal habitat is probably my #1 passion so that area would get most of it.Apr 5, 2012 at 4:01 pm #1864129
Franco DarioliBPL Member
Winning that much money will likely cause untold stress and suffering.
Just send it to me and forget about it.
FrancoApr 5, 2012 at 4:20 pm #1864141
Art …BPL Member
I would immediately realize its not enough, then drive to Vegas and squander it all in a 48 hour mad frenzied attempt to parlay it into a $ billion.Apr 5, 2012 at 4:29 pm #1864146
Nick GatelBPL Member
@ngatelLocale: Southern California
Nothing, my wife would take it from me :)Apr 5, 2012 at 5:06 pm #1864159
I'd spend it.
All of it.
Probably within a year.
And I'd have a heck of a good time.
By myself.Apr 5, 2012 at 5:06 pm #1864160
drowning in spamMember
A lightweight woven dyneema fabric.
Find or make my perfect walking shoes.Apr 5, 2012 at 5:46 pm #1864170
Justin BakerBPL Member
@justin_bakerLocale: Santa Rosa, CA
I would buy a nice home (probably a few nice homes), a nice car, a plane, buy some horses and spend the rest of my life backpacking and vacationing. The rest I would donate to charities. I would probably donate as much as possible to Rand Paul if he every runs for president.Apr 6, 2012 at 8:46 am #1864349
More:Apr 6, 2012 at 12:54 pm #1864436
Paul MagnantiBPL Member
@paulmagsLocale: Front Range Zoo
Disappear. Out of sight. Never to be found again. :)Apr 7, 2012 at 8:42 am #1864693
Mark VerberBPL Member
@verberLocale: San Francisco Bay Area
I am with Ben. Pay taxes, keep $1-2M which combined with what I have already saved would leave me free to work on things I love without worrying if / how much I would be paid.
I know how hard it is to give money away so that it helps rather than harms, that has maximum effect. I would likely try to "buy in" or at least partner with folks who are doing a good job like skoll foundation or acumen fund.
BTW: For people who get smaller windfalls, Fidelity Donor Directed Giving Fund (Schwab and other other financial institutions have similar programs) lets you take the tax right off immediately, and then spread you giving out over time as you see good ways to use the money. Sort of like your own foundation, but with a lot less legal overhead.
–MarkApr 7, 2012 at 8:52 am #1864694
Dale WambaughBPL Member
@dwambaughLocale: Pacific Northwest
Take care of family and friends in need and travel the world, helping others set up clean water supplies, health clinics, schools, and other basic infrastructure.
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