Thursday, January 14, 2016

What Would You Actually Do with a Billion Dollars?

This week, the largest thing in the news was Powerball. The lottery was up to a record setting 1.6 BILLION dollar jackpot and everyone was talking about it. There is something about the prospect of becoming super rich that makes everyone want to buy a ticket, even despite the fact that you are 24 thousand times more likely to get struck by lightning than to win Powerball. But, while I could write a whole post about why gambling is a scam, I will make this post about what would happen to someone if they actually won the lottery.

This whole week people have been fantasizing about what they would do if they won. I have heard people say everything from buying private jets to quitting their job to buying a cruise ship and then throwing it out just because they could (that one was mine). However, at lunch a few days ago, we were talking about what we would actually do if we won, which is not nearly as glamourous. After the initial excitement and extravagance wears off, I do not know what I would do. Would I go to college even though I would not actually need a degree because I wouldn’t need a job? Would I drop out the second something didn’t go my way? Would I end up working? If not, what would I spend my days doing? Relaxing on the beach in the Caribbean is fun for a little while, but I could not imagine doing it for the rest of my life? If I had that much money, I would not really have any motivation to get up every day because I would not have to work or do anything else that I didn’t want to. Being super wealthy is an entirely good thing. If you don’t have to work for anything, nothing will have meaning to you. What would you actually do if you won the Powerball?

2 comments:

  1. The best thing to do with your lottery winnings would be to take the lump sum and immediately invest in a high-return index fund. This would increase your wealth exponentially, even after the lottery sum.

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  2. After taxes, I think the number was around like 650mil, which is still a huge amount of money. Honestly, after donating a significant amount to charity, I would probably just put it away, try to not publicize it, and just keep keeping on.

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