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Rep Retirement Lodge 198 - A New Season Begins...

Rep Retirement Lodge 198 - A New Season Begins...

  • Hockey

    Votes: 12 63.2%

  • Bacon

    Votes: 7 36.8%

  • Giada

    Votes: 8 42.1%

  • Freddy

    Votes: 5 26.3%

  • Other

    Votes: 10 52.6%
  • Total voters
    19
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Re: Rep Retirement Lodge 198 - A New Season Begins...

St. Clown said:
While I agree on the religious aspect, that's a fight simply not worth having when you're the owner of such a large sum of cash.

As to the charitable works, setting up a trust to create funds for distribution in perpetuity, and limit the overall exposure to enticement when the beggars come knocking. You draw a hard line, saying that all charitable contributions will come from that trust, and that's it. Those funds have already been allocated.
Click to expand...

Understood on the charitable stuff, I'm just saying I wouldn't do it right away. I'd do the same kind of thing, several years down the line, once I had the new business functioning, and operational, and turning a profit. At that point, I could set aside funds specifically for that. I would want 100% of the funds somewhat liquid at the beginning, for at least a few years, and available for investments, until I was established.
 
Re: Rep Retirement Lodge 198 - A New Season Begins...

bigblue_dl said:
Understood on the charitable stuff, I'm just saying I wouldn't do it right away. I'd do the same kind of thing, several years down the line, once I had the new business functioning, and operational, and turning a profit. At that point, I could set aside funds specifically for that. I would want 100% of the funds somewhat liquid at the beginning, for at least a few years, and available for investments, until I was established.
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Therein lies the difference. I have no real interest in establishing a business.
 
Re: Rep Retirement Lodge 198 - A New Season Begins...

St. Clown said:
Therein lies the difference. I have no real interest in establishing a business.
Click to expand...

Theoretically, if I won $700M, my goal would be to turn it into $2B. I would envision starting a company modeled after Berkshire Hathaway, and invest in, and/or buy other companies, and build a diverse business portfolio, in addition to stocks, bonds and real estate.
 
Re: Rep Retirement Lodge 198 - A New Season Begins...

bigblue_dl said:
Theoretically, if I won $700M, my goal would be to turn it into $2B. I would envision starting a company modeled after Berkshire Hathaway, and invest in, and/or buy other companies, and build a diverse business portfolio, in addition to stocks, bonds and real estate.
Click to expand...

I would hope any business manager I would hire would help me do something like that.

I'd buy places to stay in a few place - i.e. Cape Cod, somewhere in Florida, LA, maybe Hawaii. Stock with wardrobe. And maybe a car. So, I could say on a Thursday "I want to go to Florida!" and just buy a ticket and go and not have to worry about packing.

I would pay off the mortgage for my church, and provide them with an operating budget. However, it would come with a caveat - I want to take over the parking lot. We have idiots at our church that just park wherever and not in between any lines and it annoys me so I want the authority to have a tow truck at church every week to tow cars that park incorrectly. They don't get the mortgage paid off an their operating budget if they don't agree to it. :)

Definitely will plan to donate to BU - both the overall school, my school within BU, the athletic department and obviously they hockey program. Watching their dismal performance on Saturday night, I was jokingly saying the gift would come with performance based bonues. A flat level donation. If they fail to win the faceoff while on a power play 60% of each game, I take money away. And so on. :) I know, I know. You can't do something like that. Well, at least you shouldn't. But I was so annoyed, it was fun to come up with things.

Set up immediate family members. Would need to figure out what to do with extended family, because they'd all come calling.

I would definitely not let anyone know till trusts, etc. are set up. Including at work. Then, once I'm ready to accept the prize, walk into the office with a stack of $100s and hand them out to all my co-workers as I leave.
 
Re: Rep Retirement Lodge 198 - A New Season Begins...

Scarlet, when you have that kind of money, you don't buy a ticket and fly commercial. You call NetJets and you're in the air within 30 minutes.
 
Re: Rep Retirement Lodge 198 - A New Season Begins...

bigblue_dl said:
Scarlet, when you have that kind of money, you don't buy a ticket and fly commercial. You call NetJets and you're in the air within 30 minutes.
Click to expand...

Yeah, but I'm frugal. It would be a first class ticket, though! :)
 
Re: Rep Retirement Lodge 198 - A New Season Begins...

So I'm the only one that would put it in a shoebox on the top shelf of a closet? Huh.
 
Re: Rep Retirement Lodge 198 - A New Season Begins...

A $100 bill weighs about 1 gram. So if you got all of the 1.6B, thats over 35,000 pounds.
 
Re: Rep Retirement Lodge 198 - A New Season Begins...

St. Clown said:
Therein lies the difference. I have no real interest in establishing a business.
Click to expand...
Me too. Maybe it is my time of life but I would be much more interested in managing giving it where it would help.

bigblue_dl said:
Theoretically, if I won $700M, my goal would be to turn it into $2B. I would envision starting a company modeled after Berkshire Hathaway, and invest in, and/or buy other companies, and build a diverse business portfolio, in addition to stocks, bonds and real estate.
Click to expand...
The thought of that - meh.

I haven't thought about all the shell game things except I wouldn't tell until I was set with a plan.
Would put $$ into trust for immediate family/extended family- I have <30 relatives (even counting 2nd cousins) at this point that I have contact with (and that is scraping the barrel. We don't reproduce. Of them 6 are in their 80s.
I like the idea of waiting a year or 2 before distributing
I would probably like to look for small charities- ones that work only on a local level- soup kitchens, shelters.
Think about doing something for Recovery houses- with wholistic approach- self care, training, family support, daycare etc.
Endow a few scholarships
Move the hell outta this town

With that much cash I think I would be less freaked if someone stole some. At that point it isn't like you are going to run out. I would be careful but I would try to not be paranoid about every person maybe taking something. (I know but I could afford to be lazy

Stack of 100$ give to people to distribute to folks they see who have a need. If they distribute they get more to give. If they don't- then that is it.
 
Re: Rep Retirement Lodge 198 - A New Season Begins...

leswp1 said:
Me too. Maybe it is my time of life but I would be much more interested in managing giving it where it would help.

The thought of that - meh.

I haven't thought about all the shell game things except I wouldn't tell until I was set with a plan.
Would put $$ into trust for immediate family/extended family- I have <30 relatives (even counting 2nd cousins) at this point that I have contact with (and that is scraping the barrel. We don't reproduce. Of them 6 are in their 80s.
I like the idea of waiting a year or 2 before distributing
I would probably like to look for small charities- ones that work only on a local level- soup kitchens, shelters.
Think about doing something for Recovery houses- with wholistic approach- self care, training, family support, daycare etc.
Endow a few scholarships
Move the hell outta this town

With that much cash I think I would be less freaked if someone stole some. At that point it isn't like you are going to run out. I would be careful but I would try to not be paranoid about every person maybe taking something. (I know but I could afford to be lazy

Stack of 100$ give to people to distribute to folks they see who have a need. If they distribute they get more to give. If they don't- then that is it.
Click to expand...

Giving it away? Meh.

Having that much capital to invest and play with would be exhilarating. Finding, researching, and vetting business ventures, then investing in promising ideas and business plans would be tons of fun.
 
Re: Rep Retirement Lodge 198 - A New Season Begins...

Brother-in-law is a top estate planning attorney in MSP & despite his obvious flaw (packer fan) seeking advise from him would be a no brainer.
For the rest I'd take his advise.

My dream is to take the $5-$10 I didn't spend on lottery tickets and treat myself to a nice cappuccino and large dark roast tomorrow morning.
 
Re: Rep Retirement Lodge 198 - A New Season Begins...

bigblue_dl said:
Giving it away? Meh.

Having that much capital to invest and play with would be exhilarating. Finding, researching, and vetting business ventures, then investing in promising ideas and business plans would be tons of fun.
Click to expand...

mr les and lilnsl both had this reaction. I like more tangible things- if I do this I can see a physical change- If I donate locally and I see an immediate reward for that- yay. I get the whole strategizing thing being a challenge but that kind of stuff leaves me cold.
 
Re: Rep Retirement Lodge 198 - A New Season Begins...

As far as holing up, I wouldn't do that until I actually went to verify the ticket. I'd continue to work my job, and use my days off for meetings with lawyers/financial guys, etc. Do nothing out of the ordinary. The day I walk into their office to get everything verified, I have a "go" bag and I'm gone for quite a while. Until that point, NO one outside of the previously mentioned contacts would know I won.
 
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