What is the first thing you would do if you got $100 million?

[DallasEast]

Tithe ten percent.

After taxes.

 

[PJTHEDOORS]

....if you got 100 million like Dak is soon going to get? Assuming everyone would hire a financial advisor right off the bat.

I would give a million to charity. Sounds lame, but it’s the right thing to do.

Won't keep it. Give it to an orphanage.

 

[SMASHMOUTH9473]

Hire an attorney and a finical accountant. Make several unannounced cash drops at some local churches. Find several less fortunate families in the community and take care of them. Set up annuities for my kids. Buy some land out in the country and get a nice home built. .....then I'd abruptly retire from my job and become a hermit !

 

[Them]

...First of all I would pay all known debt...and then...and then...

 

[kskboys]

Almost have to question if the person has an understanding of the amount.

Yeah, you can take 1 mil and set it up to get 4% or so. That's 40 grand/year w/o lifting a finger.

 

[kskboys]

I'd build a modest but nice on on a peice of land that I can build more on. Would probably get a really nice car too because I would spend alot of time in. However that would be about it until how to expand my income. 100 million dollars doesn't keep you from needing money coming in. However it gives you an opportunity to bring in even more money. That would be my main priority

In short: I would spoil myself with couple of very nice necessities (however the house would be modest enough to not require staffing), and the spending the rest of my attention building more capital

Yes it does. Unless you're stupid enough to spend the principle, you have a pile of money coming in w/ minimal investment.

 

[Hardline]

2 chicks at once.

I've done that being broke.

 

[nobody]

2 chicks at once.

 

[Hoofbite]

I've done that being broke.

Fowl doesn't count.

 

[Idgit]

Start mailing it in.

 

[The Dark Bishop]

Sorry but buy my mother, my son, my daughter, and myself a home....Have a car bought and paid for, then invest the rest...... After such I may consider retirement but sadly I fear boredom even more. I will decide after the surgery of my carpal tunnel....

 

[The Dark Bishop]

2 chicks at once.

Crap, in my neighborhood, that would cost you about $200 an hour on Virginia Avenue, or about $750 with higher priced escorts..... I do not speak of experience, but I know the going rate seeing I dated so many exotic dancers and escorts before I grew up... Sadly that was a about a year or two ago.... Stop judging, I lived my life and lived it well....

 

[nobody]

Crap, in my neighborhood, that would cost you about $200 an hour on Virginia Avenue, or about $750 with higher priced escorts..... I do not speak of experience, but I know the going rate seeing I dated so many exotic dancers and escorts before I grew up... Sadly that was a about a year or two ago.... Stop judging, I lived my life and lived it well....

He was quoting as a joke. lol.... at least, I think he was. Office Space.

 

[Super_Kazuya]

The first thing I would do is ka-wit my job.

Assuming, you don’t despise your job, how much notice would you give? It’s a question I’ve always tossed around in my lottery winning daydreams...

 

[John813]

Laugh at poor people.

 

[jsb357]

pay off all immediate family members home mortgage

everyone in same group vehicle update

college trust fund accounts for nieces and nephews

retire and do some serious upgrades to the family properties.

buy a chunk of desert in the Big Bend area

 

[bigdnlaca]

Assuming, you don’t despise your job, how much notice would you give? It’s a question I’ve always tossed around in my lottery winning daydreams...

I had a conversation with a lawyer I knew and he said this:

1. Continue to go to work business as usual but create some excuses that give people hints that you might be leaving by going to job interviews, doctor, taking care of family, etc.
2. Reality is you are working out how to claim the ticket (either having a law firm represent you or your own business)
3. While you are completing the second step, wait until someone else wins and claim a different jackpot that is popular(assuming this happens before the ticket expire). This is so the media covers that ticket winning instead of yours.
4. Claim ticket assuming you completed step 2.
5. This part is tricky. Because you won so much money, you are under investigation and they run background checks making sure it was you that purchased the ticket, if you don't owe any back taxes, child support, alimony whatever because they will get that part. However, they will give you some of the winnings during this time which can take up to a couple of weeks. This is where rule number 2 comes in because the law firm may actually have those funds cleared up quicker than you with your bank. That small portion will cover the law fees.
6. Give two week notice after you received the small portion of winnings and the state is done with the investigation. This gives you a chance to rescind it if the wire is taking a while.
7. Leave once the wire went thru but if it happened after the two week notice, doesn't hurt to volunteer your time for your replacement for a couple of days because you will still need some income while you are waiting for your prize.


Follow these steps could take 4-8 months to leave job because the state(s) need to collect that much amount of money and how you will receive the money. If you skip 3, reduce the timetable by a month or two. I would guess that you will get the money quicker if you have the winnings received annually than lump.

 

[YosemiteSam]

I'm with @Hardline. Hire a lawyer, a CPA, and then contact my tax accountant.

Then, while I'm happy with my home. I chose the home's location in Connecticut for tax purposes, but near the NY border for work proximity. I would build a (5) bedroom (2 guest bedrooms) 5k sqft a home deeper in Connecticut with more land than I have now. (1 acre) Preferably higher up on a hill and in the forest, but with a large area (maybe 6-8 acres) cleared of trees for my Astronomy / Astrophotography and a 130' tower for HF/UHF/VHF antennas.

I would build a small workshop near the house that would house my electronics workbench, woodworking tools / machines, and house all my guitars and I would buy a drum set.

Then I would invest the rest and live off the income it provides.

 

[Xelda]

I'm with @Hardline. Hire a lawyer, a CPA, and then contact my tax accountant.

Then, while I'm happy with my home. I chose the home's location in Connecticut for tax purposes, but near the NY border for work proximity. I would build a (5) bedroom (2 guest bedrooms) 5k sqft a home deeper in Connecticut with more land than I have now. (1 acre) Preferably higher up on a hill and in the forest, but with a large area (maybe 6-8 acres) cleared of trees for my Astronomy / Astrophotography and a 130' tower for HF/UHF/VHF antennas.

I would build a small workshop near the house that would house my electronics workbench, woodworking tools / machines, and house all my guitars and I would buy a drum set.

Then I would invest the rest and live off the income it provides.

COOL!

 

[Super_Kazuya]

I had a conversation with a lawyer I knew and he said this:

1. Continue to go to work business as usual but create some excuses that give people hints that you might be leaving by going to job interviews, doctor, taking care of family, etc.
2. Reality is you are working out how to claim the ticket (either having a law firm represent you or your own business)
3. While you are completing the second step, wait until someone else wins and claim a different jackpot that is popular(assuming this happens before the ticket expire). This is so the media covers that ticket winning instead of yours.
4. Claim ticket assuming you completed step 2.
5. This part is tricky. Because you won so much money, you are under investigation and they run background checks making sure it was you that purchased the ticket, if you don't owe any back taxes, child support, alimony whatever because they will get that part. However, they will give you some of the winnings during this time which can take up to a couple of weeks. This is where rule number 2 comes in because the law firm may actually have those funds cleared up quicker than you with your bank. That small portion will cover the law fees.
6. Give two week notice after you received the small portion of winnings and the state is done with the investigation. This gives you a chance to rescind it if the wire is taking a while.
7. Leave once the wire went thru but if it happened after the two week notice, doesn't hurt to volunteer your time for your replacement for a couple of days because you will still need some income while you are waiting for your prize.


Follow these steps could take 4-8 months to leave job because the state(s) need to collect that much amount of money and how you will receive the money. If you skip 3, reduce the timetable by a month or two. I would guess that you will get the money quicker if you have the winnings received annually than lump.

Strangely enough I was speaking more from the “courtesy” point of view but you bring up some interesting points. Frankly unless I had reason to suspect that something was going to fall through or that my ticket was fake, I would be fine dipping into my other assets, even retirement ones to live for 8 months or whatever if I knew I was getting 100 million.
My thought is I like my job (enough), and it’s been good to me, so what would I do? Would I give two weeks? On one hand, one of the main reasons you give notice is to maintain your professional reputation, and that no longer matters if you never have to work again. Plus, if you got killed in an accident on the way to work during your final two weeks, your ghost would not be very happy with you.
On the other hand, giving notice is usually greatly beneficial for the employer and what’s two more weeks to help an employer you had a good relationship with when you will never have to work again when it’s done?