Tonight’s Mega Millions jackpot is at $640 Million. The lump sum after taxes would end up being $347 million. Or you can take $21 million over 26 years. Lets play with the lump sum.
The lottery for me is a fun game of “What if?” I think about it now and again, especially when there’s a big jackpot. Now, to be clear, I’m not dead broke. I have more than I will ever need in Life. But its a fun game nonetheless. So, what would I do with $347 million? Here are 10 things:
1. Put aside $50 million for long term investments. I don’t intend to be that fool who’s gonna squander it all within a couple years.
2. An immediate $20 million to go to various charities. LLS, obviously. The Greater LA Chapter of Team In Training will see a… sizeable… donation to all it’s participants. City of Hope, The Bill and Melinda Gates Foundation, to name a few. This is before I figure out a way to create a trust to regularly donate to charities.
3. A trust fund for all the kids in my family so their education will be completely covered, up to a Master’s Degree. And it has to be something useful. They’re not getting $100K to pay for a Master’s in some obscure Liberal Arts field.
4. Scholarship fund focusing on the city of La Puente, my hometown. I wanna help kids from the neighborhood get out and do something with their lives.
5. Have an arts and media center built and named after me at my High School. I’d like to call it Rommel’s Fun House. Or something like that.
6. Donate enough to get a building named after me at my college, SCAD.
7. Buy myself a few cars. Nothing fancy. A 1981 Celica GT. 1969 Dodge Dart. Lexus LF-A. Ferrari 458. Ariel Atom v8. To name a few.
8. A new house. For me. For my sister. Pay off mom and dad’s house. And a house boat.
9. Fund my own movie and TV pilot. If either are successful, then I keep going.
10. Work only 8 months a year for the rest of my life. Which is moot if #9 happens.
What would you do?