Strange Brouhaha

Tuesday, March 06, 2007

What would you do with it?

If I lived closer to the Illinois border, I'd have bought my Mega Millions ticket already. The jackpot is up to a record-breaking $370 million on odds of 170 million to one. The cash payout--which financial advisors recommend you take--is $133 million, give or take.

CNN ran an article today on what people would do with the money. Some absolutely infuriating responses there, especially the person or two who worried about the money lasting them for the rest of their lives. Even after taxes, you'll have more than enough to set yourself up for life and make a lot of people happy.

Here's what I'd do: make sure that my family was set for life, with the appropriate debt payoffs and college funds as necessary. Buy a new house (still in our neighborhood; I like it here). Take a long vacation. Sock away ten million bucks. Start up a scholarship fund and give the rest of it away helping people get an education.

Correction: The cash payout is in the neighborhood of $220 million. I guess the $133 million figure was a post-tax estimate or something.


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