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Friday, March 30, 2012

How to spend a half-billion dollars?: A hypothetical

Today, as I left class with just a month to go before final grades post, and I, being concerned about that and other things, heard that the lottery had went over a half-billion dollars. ($540 million racked up as I was too busy to notice. So, I don't gamble much on the lottery.)

So again, I detoured from home. Went to the local gas station and plunked down $1 on the lottery sure that I will win, and become uberwealthy and never want for anything again, ha! ha!

So what to do with $330 million after Uncle Sam gets his cut at 25% and Indiana gets 3.4%? Or the annuity of $17.64 million in Indiana, which could also raise their taxes in the future? (Take the lump payout!! The inflation is low now...but...better to have the money to manage in one lump than spread it out - which - is ok at low interest rates, but I think I can find enough banks to spread the wealth into...to cover my but, again, ha! ha!)

1. Endow Purdue University with $30 million. Currently, their endowment size is only $2 billion. Hope they will build a nice building regarding a new interdisciplinary academic program that ties business, technology, arts, history, and engineering together. Find a professor to head up this new program. If not, they did me a favor, so I'll return it, many fold.
2. Create a scholarship program of $250,000 per year for 4 students at Purdue. I figure that can pay the current tuition for four years of study, and probably, for the next decade. After that, well, that's for administrators to decide. The prerequisite: a student that came through significant hardships, older applications likely preferred, who show a dedication to educational pursuits, likely, after not achieving the highest grades upon first entry. Interview process. An essay of around 2,500 words. Really, just someone not cut from the same model of 18-years old and unacquainted with setbacks as an adult.
3. Start a business. Yep,  have been working on that too. But with capital, I can do it right. Meet the right people, investors that I can do due diligence on (not someone's sucker, like this article represents lotto people as)  and get things going in the right direction. Employ people, install management, design the products and process, and seek out those that can contribute the right skills.
4. Do something for my mom. Her 60th birthday just past. She did not live to see it. However, I think I can do several things she wanted to do. Adult literacy, invest in business start-ups run by talented, but underfunded women, work on a memorial that I think she richly deserves.
5. A modest home (under $500,000) near water - but not right on the beach. A place I can write, contemplate, run operations of the publishing empire (ha ha) and make some life changes I seemingly never have had the opportunity to do.
6. An affordable lifestyle. See, the lottery winners of the past 25 years have typically done all the stupid stuff. Buy on credit. Never invest. Let leaches in. (I know who are my friends....and they are indeed few.) Let family manipulate. (No wife now. No kids. Two closest relational ties are strained....distant ones, I have no connections with - so, ideally, the best candidate to win the half-billion. "Hey, God, you want someone that can actually make a difference with loot - that's me.")
7. Travel. Yep, I'll do that once I get the wheels of the financial management working well. As I am non-descript this will be easy to do too. I want to do this to find food for writing thought.
8. Goal completion. I have a list of 60+ goals that I want to achieve. Financial power, as a lottery win provides,  will make these achievable. The list has more donations and improving forces on it than many I know would believe. My task even without the largesse is to make some difference.
9. Pay off debts and my moms too. So, many a creditor can be assured to know that with means, comes payment. That said, I won't be hustled.
10. Enjoy life!
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