Thursday, April 28, 2016

Wealthy Thoughts

Some of you might be thinking about early retirement or are already retired but would love to supplement their pension. Is there a way to get there faster? Yes there is... Powerball! 

I don't know if it's the best way but hey who would say NO to the current amount. It is estimated to be 314 Millions US if you take an annuity that will be pay out in 30 installments. The first one, right away ($4,726,151), and then with a 5 % increase per year, you get your bank account yearly replenish 29 times.
Or you could take 204.7 Millions in cash. But if you do so, you better be in shape, you will have to run a lot!
So Saturday when I win, I'll take the annuity. I never managed 204.7 millions before and it would just complicate my life too much. I'm pretty sure I could manage 4.7 millions... With that amount...
I pay off my tax. Sadly, I will be in the upper tax bracket, lets round it to 50 %, so I will be down to 2.35 M.
I will pay off my debts. After this, I'll still have 2.35 M. in my bank account.
I will keep a third and give two third to the kids. Let them have the headache of managing that! My next bank statement will show ONLY 780 K. If I budget it per day it would be about $2000 every single day.
I buy a new car. It's going to be red. I limited that spending to 100 grand. (680 K. left)
I am going to travel, the whole year. I know it doesn't make sense to buy a car and leave it in the garage but I can afford it. I'll budget 280 K. for this once in a lifetime trip. (400 K left)
I just realized, I don't have a garage... I'll need to buy a house with a garage in a good neighborhood... I'll budget a Million on that. However, all is left in my bank account is 400 K so I won't pay cash, I'll have a mortgage. If I take into account the mortgage payment and all other cost of owning, it might be an other 150 K expenses per year. (250 K. Left)
I'll give to some charities, I'll even going to carry on me gift card for restaurant so that if I come upon a homeless, I can send him/her to get a good meal. (150 K. Left)
I will budget gifts for my family and friends (the one I had before winning) (100 K. Left)

I will get all kind of gadget like a smart phone, NO I can't give that number away... I am just going to walk in Best buy and get carts of stuff... (50 K. Left)
I will through a party where food is free, bar is open, with live music (I'll have to check if Adele is available) (1 K. Left)
I will get an accountant and layer and all kind of adviser. (- 15 K.)
I'm going to buy a boat, I can't swim, but that will be nice to invite people to the boat that is in dry docking. (- 215 K.)
Oh no, it doesn't seem like I have enough... I might have to pass the hat at some point, can any of you spare me a few grand? :(
What would you do if I don't win but you do?


  1. What would I do? Try not to do what you'd do :) Personally, I'd be happy to win the amount of our mortgage! That's more than enough. We'd be completely debt free!

    1. Dream BIG Martha, this is not a reality check! lol
      In everything I said only 3 things are true... giving to the kids, charities and travel without limit. I don't really care about a big house, or material stuffs.

  2. We each get 1/3 of the winnings???? Yay!

    I'm tempted to throw away what I got for father's day and replace it with something real good!

    If I won a huge amount of cash: share with beloved family.

    Pay off the house or get a new house (but I love our house - the raspberries! We just planted them!)

    A new bed! :D

    Put lots of money in savings. Maybe reduce work hours? But I love my job!


    1. Did you already got ME something for father day? Just tell me what it is, I'll tell you if you should keep it LOL

      Nah keep your house, the cat already love it!

  3. Get a swimming pool (we hope to do this soon anyway). Get servants! Cleaner, gardener, personal shopper, French/Thai/Mexican chefs. Hmm, how about a different one each day of the week. French chef comes on Monday, Malaysian on Tuesday, Greek on Wednesday etc.

    Then have the fun of randomly giving $1000 to people. But anonymously, otherwise they will all turn up at your house asking for more.

    1. If I get a $1000 I'll know where it come from LOL

      I would love to get a personal shopper.... it was not even on my list... it just move to number one!

  4. If we won, I we wouldn't tell anyone for a looooong time, just to let it settle for ourselves, first.

    1. You could tell me I can keep a secret... For safeguarding, you could even send me your ticket, trust me. LOL