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If you won the lottery.(22 posts)

If you won the lottery.RoyGBiv
Feb 5, 2003 11:37 AM
Enough to live happily ever after on.
Would you:
a) Quit your job on the spot, but not before rebuking that psycho boss and/or back-stabbing workmate who made life difficult for you all these years?
b) Quit on the spot and just leave quietly?
c) Give two weeks' notice and proceed to make life difficult for the psycho manager and back-stabbing workmate?
d) Give two weeks' notice and keep your mouth shut to the last day?
e) Don't say anything and proceed to make life hell for all those around you who deserve it to the point where they want to fire you, then you quit?
re: If you won the lottery.mohair_chair
Feb 5, 2003 12:03 PM
If you had a psycho boss and/or back-stabbing workmate, how could you possibly stick around to torment them? If your work environment was that bad, why would you elect to stay any longer than you had to? There's something really wrong with someone who could actually do that. That's not too far removed from the "disgruntled" employees who come back and shoot up the place.

And as for E, if you were the type of person who would do that, you need your ass kicked big time, and someone will probably do it for you. Some people just shouldn't have money.
You sound like my ex.RoyGBiv
Feb 5, 2003 12:45 PM
I'd quit today but I need the money.
Have a great day. Seriously
Feb 5, 2003 12:28 PM
I'd tell them I'm quitting, as I'd be far too distracted picking out new bikes to get any work done (it's hard enough now). I'd write them a check for $50k to hire someone to transition my cases. Then, I'd hire them to do an estate plan and to watch the accountants.

it is funny isn't itNo_sprint
Feb 5, 2003 12:36 PM
You have that much money, you've got to hire accountants to watch your accountants, lawyers to watch your lawyers, accountants to watch your lawyers and lawyers to watch your accountants, and so on...

private investigators to watch them all.

and still hope they all don't scam you in mass.
what I'd probably do, actuallyDougSloan
Feb 5, 2003 12:58 PM
I'd stick it all in the credit union and just let it sit, earning maybe 3%. No worries.

No you wouldn'tPaulCL
Feb 5, 2003 1:11 PM
Sorry, but I've heard that one too, too often.

Let's say $10MM. @3% you get $300,000 per year. Taxable.

Doug, you're savvy enough to know that the $300m today will be worth about $200,000 in ten years and about $130,000 in 20 years.

Two definitions of risk:

The common one: Will my money be worth less tomorrow than today in "X" investment?? Very short term oriented individual.

The correct definition: Will I outlive my money?? If you heed definition #2, you would never lock it away at 3%

...damn...sorry...that financial advisor in me just keeps coming out....
Feb 5, 2003 1:13 PM
With $10 million in the bank, you'll probably crash the ATM machine because it doesn't have enough digits to print a receipt.

At least buy some T-bills.
yes, butDougSloan
Feb 5, 2003 1:34 PM
But I'm assuming I could live off the principal. I don't care about getting much interest. Just stashing it away buys a whole lot of peace of mind, which is very valuable at that point.

That's probably about as troubling to you as my seeing someone walk away from a legitimate lawsuit. Peace of mind can be more valuable than more money.

Doug would bug me.PaulCL
Feb 5, 2003 4:47 PM
I understand all levels of risk tolerance. But, I have seen time after time, people with 'zero' tolerance get themselves in trouble when their principle won't support their lifestyle. I will readily admit (ask my wife) that I hate dipping into principle for anything. to dream about it, isn't it?? I think I'll buy a powerball ticket tomorrow.
Feb 5, 2003 12:32 PM
For me it'd be a, b, or c. Likely b.

I go through this fantasy all the time. Perhaps I should play the thing. One thing is sure, I can't win since I don't play.
f) None of the above....asphalt assault
Feb 5, 2003 1:12 PM
I'd just not show up and keep them guessing for a while, let the machine answer the phone while I'm out riding my brains out.
probably d (nm)ColnagoFE
Feb 5, 2003 1:13 PM
It's MY money?128
Feb 5, 2003 1:34 PM
I'd start my own businesses, attempt to turn some avocations professional, set up scholorships, build my house, pay off a lot of mortgages, spend, spend, spend, save save save.
Hell, I'd be a model citizen.

(or maybe I should unify my portfolio in Company and sit on the money - nah, too risky)
I'd be worried if I won the lottocarnageasada
Feb 5, 2003 4:43 PM
I know it sounds crazy but I think that winning the lotto would be as likely to ruin your life, family and friendships than add to your life because it's so easy to fall into the trap of thinking that vast sums of money will solve non-materialistic problems.
May I quote the late Pearl BaileyPaulCL
Feb 5, 2003 4:50 PM
"Honey, I've tried it rich, and I've tried it poor, and Honey, I'll take rich every time!!"

The wealth may cause some problems - new ones, but in general, the wealth would be more of a benefit than a detriment. If you don't like it, you could spend your days giving it away. Ifso, my home address is.....
re: If you won the lottery.rwbadley
Feb 5, 2003 5:02 PM
I would give notice that I would be available even less than I am now! I like what I do and the people I work with. If it were not so, I guess I wouldn't be there.

That amount of money could be useful in alot of ways. I like to think I would be able to put it to good use, without too many negative impacts.

I used to work for a guy that had MONEY. He used to tell me he had about 20 mil. His father had at least twenty times that. The father was a good character. The son was too, in many ways, but he was quite messed up most of the time about 'things' he could not control. He had never worked a day in his life, and the common knowledge we take for granted he had little of.

The worst part about this fellow (from my point of view)was he did not know what to do with all that money!! Really a sad thing to see.

Let me have a chance, I know I could do better! :-))

Color me gone53T
Feb 5, 2003 5:42 PM
I don;t know how much monet we are talking about, but with 50 million or more after taxes I would:

-Move to an island, far away, where it is warm.
-Send my kids to college, or wherever else they want to go.
-I would not give notice at work, they would notice pretty soon that I was gone.
-They might go so far as to call the police when they realize I have vanished without a trace.
-Only then would I settle down to some real financial panning. I would tend to live on intrest, or less than the intrest.
Feb 6, 2003 7:16 AM
None of the above, or option "f". Even if I was working, I'd give a week's notice but not tell anyone. During that week, I'd work with an estate lawyer to set everything up so that if I died, the money would keep coming to my family. I always choose a 25 year payment over the lump sum cash option. After that is completed, I'd then claim my winnings, and do so anonymously.

Build a nice, yet not too large home nearby. Later I'd buy a 2nd home in someplace like Durango, CO, or Whitefish, MT. Plenty of travel, but enjoying skiing in winter and riding in summer makes a Rocky Mountain 2nd home a true luxury.

Sending the kids to college, sharing some money with sisters and brothers, giving to a few select charities and people in dire need would be a pleasure.

Living off interest and secure investments is a must after the initial spending was done. A quiet, peaceful family life would take precedence over flashyness and buying. The time spent not working would be easy to replace with riding and projects, like restoring a classic car or two, woodworking projects, and tinkering on bikes. Yes, there would be a few bikes!
Ditto this, almost exactly, emphasis onRhodyRider
Feb 6, 2003 9:34 AM
earmarking a nice percentage for world travel, I'd really love to explore Mother Earth with no limitations. Agree with a nice yet understated home in my current locale (southern New England) and one in the mountains out West. Some nice toys like total gourmet/commercial-quality kitchen and accompanying accessories (I love to cook!) and the best sound/home-theater system I could assemble. The key is the anonymity you mention, and the thorough planning. The job? I'd probably not tip my hand, just give my notice and go quietly, why act like a jackass for no reason? Keep everything private. Nothing outlandish that shouts, "look at me!" Quality, elegance, understatement. That's my way, or at least I'm trying for that to be my way.
If I won the lottery?Kristin
Feb 6, 2003 7:28 AM
a)Give notice to my job for April 30
b)Apply to the photography school in the area
c)Get proper treatment for my diabetic cat
d)Move out of my 575 SF condo in to a larger townhome
e)Find a road bike that fits, and buy a mountain bike
f)Pay off my car
h)Spend my summer traveling, riding and hiking
i)Put all my retirement money away
j)Most likely become corrupted by the greed of wealth and eventually sqaunder my fortune and retirement money
Non-commercial custom welding, machining and painting shop.Spoke Wrench
Feb 6, 2003 8:40 AM
If I could change just one part of my life, that's what I would do. I'd spend my life building myself some utterly useless toys.

Unfortunately, I don't think it works that way. My son would pester me to buy him a Corvette. My wife would want to save the world. Who knows what else? While I would like to have a little more money, I'm so utterly content with my life the way that it is today that I don't want to have to make any major changes in it. I don't buy lottery tickets.