What will you do with $85 million?
@lordwarwizard (35747)
Singapore
March 2, 2007 9:07am CST
Brad Duke, 34, a manager for five Gold's Gym franchises in Idaho, pocketed a lump sum of $85 million after winning a $220 million Powerball jackpot in 2005. He spent the first month of his new life assembling a team of financial advisors. His goal: to use his winnings to become a billionaire.
I just read this article from http://money.cnn.com/2007/02/20/magazines/fortune/lottery_winnings.fortune/index.htm . It's rather long but nicely organised so you can just zoom in to the section you are interested in. But here, let me just elaborate on what this lucky guy did with his money:
# $45 million: Safe, low-risk investments such as municipal bonds
# 35 million: Aggressive investments like oil and gas and real estate
# $1.3 million: A family foundation
# $63,000: A trip to Tahiti with 17 friends
# $125,000: Mortgage retired on his 1,400-square-foot house
# $18,000: Student-loan repayment
# $65,000: New bicycles, including a $12,000 BMC road bike
# $14,500: A used black VW Jetta
# $12,000: Annual gift to each family member
If it were you, that lucky Brad who won $85 million, how would you spend your money? Do share your thoughts on this. ;-)
PS.: As usual, all responses will automatically get a "+" unless... :P
7 people like this
27 responses
@Phlamingho (7824)
• Denmark
2 Mar 07
Smart guy... I would have done almost the same... Except one thing... A VW Jetta??? They guy just won $85 million... Come on...
3 people like this
@whyaskq (7523)
• Singapore
3 Mar 07
I am not good at figures, hence I do not know how large the sum of money is, only know there are many zeros. Maybe the amount is more than enough to last me few lifetimes.
Deducting funds for my family, friends and retirement, I will split the rest of it into 2 parts. One part will be used to set up a village fund and the other to plant money trees so that it will grow more money.
I have always look forward to a big family where everyone live in harmony, help and care for one another. Hence, I visualise a small village in the wild. This self-contained village will be home for the abandoned adults and children. The abled elderly will educate and care for the young. The abled young will take care of the aged. Of course, they will receive the necessary education and training for their roles, but they will be "bonded" to serve the villagers. The village fund will sponsor the basic necessities of the villagers to lead a simple and decent life.
The above is how I think the money will be spent, but who knows, it might be a different story when I win $85 million. I will let you know then.
Those who pray hard for me is guaranteed a percentage from my retirement funds.
2 people like this
@margieanneart (26423)
• United States
18 Mar 07
Will you really remember that statement if we did and it came true? Hehhehehehe:)
2 people like this
@lordwarwizard (35747)
• Singapore
3 Mar 07
Yes, it is many zeroes... :P
And wow.. a small village in the wild that is still self-sufficient. This is such a grand vision.
Alright, I am praying very hard for you now. In fact, I will include you in my daily prayers. Remember me. ;-)
2 people like this
@charms88 (7538)
• Philippines
3 Mar 07
Honestly speaking, I don't like to have that much money. I have a very simple dreams and wishes in my life. But given the chance, the first thing I will do is to donate to charity especially to orphanages and children afflicted with different illnesses. A portion will go to the bank to open a long term time deposits for my two little ones. I want to ensure that my girls will have a good financial security in the future. I will also share my wealth to my siblings and their respective families. Some of the money I will use to travel around the world. I like to know more about the different cultures of each country.
@charms88 (7538)
• Philippines
3 Mar 07
LOL, wizard, $85 millions are a lot of money. Who wouldn't like to have money. But really, a little lower will still be fine with me. I am happy with whatever money I have which are nicely invested in the bank. Besides, I can't handle that much money myself. LOL...maybe I'm weird or something.
2 people like this
@lordwarwizard (35747)
• Singapore
3 Mar 07
I think you are indeed one of the rarer breeds in this world - you don't want that much money! There is nothing right or wrong here so don't take me the wrong way.
In fact it is often the case that those who don't want it, get it (how unfair!). :P
1 person likes this
@lordwarwizard (35747)
• Singapore
3 Mar 07
Oh yea.. maybe 1 or 2 million at the local jackpot would be a small enough sum to have. Haha! :P
1 person likes this
@liranlgo (5752)
• Israel
16 Mar 07
well that is nice..well i guss i should not envy him..cause i am next to win..lol
well i would take the money and put ten million dollars at my arents account so they can enjoy doing whatever they want
econd thing i would put another tem million dollars at my brothers account so he can make all of his wishes come true and always love his sister..lol
the third thing i would do is invest 50 million dollars in a special program that i will gain a lot of credit there
in the rest of the money i will buy some accids and go on doing what i always wanted.. that last part i didn't figure out yet..have to decide..lol
2 people like this
@lordwarwizard (35747)
• Singapore
16 Mar 07
Alright, I'm after you. You better hurry or I would have to ask you to re-queue. :P
1 person likes this
@easy888 (10405)
• Australia
16 Mar 07
If i have 85 million. I will give some to my parents and brother, for the remaning i get , I will put some into the banks to earn interests so that i am able to have stable income every month, then I will open a restuarant becuase it is my fream to run a restuarant, and i will also dnoate some to the charity organizations to help those in need.
@lordwarwizard (35747)
• Singapore
17 Mar 07
Nice. Ever thought of combining the two? Starting a restaurant and offering free meals to the needy?
1 person likes this
@scarlet_woman (23463)
• United States
16 Mar 07
first thing i'd have to do is hide from my relatives.
they'd probably know i won before i did,and all have their hand open.
i'd pay my bills,invest,give some to charity,help out good friends who've helped me in the past,pay off my mom's house,buy my own,and figure out what to do with the rest on a badly needed vacation.
oh..and before all that,i'd tell my boss exactly what he can do with his low-paying,no insurance joke of a job;)
@margieanneart (26423)
• United States
3 Mar 07
If I had that much money, I would keep $25. million, and the rest would be given to different charities for animals and people. How much does a person need anyway?
2 people like this
@lordwarwizard (35747)
• Singapore
3 Mar 07
I must say I am pleasantly surprised to find so many generous people around! ;-)
1 person likes this
@suscan (1955)
• United States
18 Mar 07
He seems to have a good plan. I would want to have a new car,and give some more money to my family. One thing I wouldn't want to be is one of those lottery winners who spends it all, so I think it is important to have a plan, it you would win.
@Marie2473 (8512)
• Sweden
18 Mar 07
I would definately first pay off all my debts and then I woudl go for a nice long holiday just relaxing and enjoying myself=)
i would also give alot of it away - I do not need that much to myself =)
I am scared of investments - heard alot of sh*t about them - however with that kind of money I am sure I would have the guts. =)
2 people like this
@Alexandria37 (5717)
• Ireland
2 Mar 07
Firstly I would have a holiday while I am thinking of what to do with it. I wouldn't want to keep it all as it would be a lot more than what I could ever spend. I would make sure my family was financially secure for the rest of their lives and I would give the rest to charity. I would of course buy a plane to deliver the money myself just to make sure that the people in need got the money. After all that, I would tell my bank manager just what I think of him...lol.
2 people like this
@lordwarwizard (35747)
• Singapore
2 Mar 07
Wow, this sounds really cool... buying a plane just to deliver the money to people so that they really get it. You must be aspiring to be a modern day Robin Hood! :P
@crazynurse (7482)
• United States
3 Mar 07
Well, a lot would be spent initially to pay the hospital bills that would result from me having a big heart attack and passing vital organs when I found out I had won! Ha! After getting out of the hospital, I would:
(1)pay off any debts that had interest attached to them (home and other loans, charge cards etc)
(2)Invest, invest, invest (very similarly to Mr. Duke, some in fast growth, some in more secure areas)
(3) I would move to a different city and get a very similar sized house as what I have now. It would be all one level with no steps (hey, hubby and I are aging fast!)
I really wouldn't purchase anything initially. Our cars are just fine, why buy new ones. There is nothing that I long for..so Iwould just sit on the $$. I would think long and hard and then donate to some chosen health research areas and charities.
2 people like this
@lordwarwizard (35747)
• Singapore
3 Mar 07
Do you know that some people actually have a fear of having too much money? I tried very hard but I simply cannot imagine myself having such a fear. :P
1 person likes this
@hellhunter (273)
• United States
2 Mar 07
$85 million, I am going to get a heart attack....................................................
$85 million are too much for me, half of them i'll give to the charity, the other half i'll keep them for my luxuries, make investments, etc. Poor needy people.
2 people like this
@lordwarwizard (35747)
• Singapore
3 Mar 07
Wow dude, you are indeed GENEROUS!
You are gonna give HALF which is effectively more than FOURTY MILLIONS away just like that?
WOW.
1 person likes this
@totalearnings (1603)
• India
2 Mar 07
hey Lordwarwizard. whats the fun about dreaming on 'if'. give me that sum and i will show you what wonders could be done with that amount.
2 people like this
@lordwarwizard (35747)
• Singapore
3 Mar 07
Oh yea? Convince me first, dude. Why should I give you 85 mil till I am convinced?
* As if I have that kinda of money... :P*
1 person likes this
@blaze21 (67)
•
3 Mar 07
I can't possibly think of all the things that i would do with the money cause i think my ideas would change. firstly ensure that all those dear tome have their hearts desire. but i would like to buy my own private island give some money back to the commmunity to build centres for kids and young mums and also make improvements. build a buisness to leave in the family. HAVE the phattest party in history for charity. have a humma.
2 people like this
@lordwarwizard (35747)
• Singapore
3 Mar 07
Private island yea? That's one of my long-term plans too. Maybe we can get one side by side so at least we can claim to have a neighour nearby. ;-)
1 person likes this
@maumbi (2569)
• Indonesia
24 Mar 07
85 million dollars wow I wouldn't know where to begin. First I would get myself a really good lawyer because everyone would all of a sudden be my best friend. Then I would make sure my entire family was taken very good care of for the rest of their lives. I would buy the block that I grew up on and build homes for my friends to live in so we could constantly have a block party. I would not quit my job for at least 6 months because I would want to enjoy making my bosses life miserable....
@lordwarwizard (35747)
• Singapore
24 Mar 07
Hey hey hey, getting a lawyer to fend off your friends, eh? :P
Making your bosses miserable? You are one nasty one! :PP
@hertaintedlips (155)
• United States
3 Mar 07
I read about this a couple days ago. I would do similar things. I would make my money work for me (earn interest) and help others out.
@jjn1983 (1353)
• United States
2 Mar 07
If I won the lottery the first thing I would do is pay off all my debts. Then I would buy a big house somewhere out in the middle of no where. Of course I would have to buy a big truck to make it down my driveway to and from my house. Then I think I would put some money up for my son to go to college. I think I would also like to start a construction business up with my husband...that is his dream.
2 people like this
@lordwarwizard (35747)
• Singapore
23 Mar 07
Why don't you just get a sprawling mansion to house everyone under one roof? ;-)
@Suze05 (480)
• United States
23 Mar 07
wow..85 million! I cant imagine what it would be like to have that kind of money. of course taxes would take a BIG chunk of it ..but after that, I'd do similar to what he did with it. Invest, travel, pay off my bills, buy a fabulous house..or maybe 2!! LOL and the perfect car...and make sure my family and friends are all taken care of. But I wouldnt care about being a billionaire, I'd use a lot of it to help people, give alot of it away..I'd start an animal rescue too, I think. I'd buy a big boat and a vacation house on a big lake somewhere. Now..if I only could actually WIN!! LO :O)))
