Livin' Large: Win lottery, but give away $11M - Page 2

Livin' Large: Win lottery, but give away $11M

This is a discussion on Livin' Large: Win lottery, but give away $11M within the Off Topic & Humor Discussion forums, part of the The Back Porch category; I don't ever participate in the lottery, but if I came into that amount of money, I kow what I'd do with it, to the ...

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  1. #16
    Member Array 120mm's Avatar
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    I don't ever participate in the lottery, but if I came into that amount of money, I kow what I'd do with it, to the penny.

    I'd give it away to a non-profit which I formed, and spend the rest of my life using principle and interest to do what I want to do, in the process of helping people.


  2. #17
    VIP Member Array paramedic70002's Avatar
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    Winning that kind of money is a double edged sword, many people make very poor decisions.

    Note to future give away people:

    Advertise you are taking applications from needy people. Divy up a portion of the money to deserving people. I will get mine in the mail post haste.
    "Each worker carried his sword strapped to his side." Nehemiah 4:18

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  3. #18
    Ex Member Array JOHNSMITH's Avatar
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    Quote Originally Posted by paramedic70002 View Post
    Winning that kind of money is a double edged sword, many people make very poor decisions.

    Note to future give away people:

    Advertise you are taking applications from needy people. Divy up a portion of the money to deserving people. I will get mine in the mail post haste.
    Dear SIR PARAMEDIC

    I am writing to inform you that you have won a portion of my $100,000,000 (USD) lottery winnings. I desperately need to temporarily store this amount in an AMERICAN (UNITED STATES) bank account for a temporary time. First, to make sure you are legitimate, I need you to send me a check for $10,000 (USD). You will of course get this back in a short time. Please let me know.

    Sir John Mark Bob Bill James Bob Bobbabo
    Prince of Lottostan

  4. #19
    VIP Member Array ccw9mm's Avatar
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    Quote Originally Posted by 120mm View Post
    ... if I came into that amount of money, I kow what I'd do with it, to the penny.

    I'd give it away to a non-profit which I formed, and spend the rest of my life using principle and interest to do what I want to do, in the process of helping people.
    Over the years, Warren Buffet was lambasted for "hoarding" his cash and making the pile as big as he could with very little philanthropy (relatively speaking). His rationale was that he was fairly certain he was a better judge of how to heap cash into a bigger pile than anyone else he knew, so he'd keep it for the time being. And, right he was. Now that his pile is of a fair size, he's doing exactly what you suggest: guiding his funds to the best non-profit methods he can find for helping others. Smart, if ensuring quality use of the funds is the goal. Compare that to any of a hundred different organizations we're all familiar with, in which a huge percentage of the funds goes to maintaining the "machine's" administrative and fund-raising functions.
    Your best weapon is your brain. Don't leave home without it.
    Thoughts: Justifiable self defense (A.O.J.).
    Explain: How does disarming victims reduce the number of victims?
    Reason over Force: The Gun is Civilization (Marko Kloos).
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  5. #20
    Member Array NDCent's Avatar
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    In 6 months they'll find out they still owe a couple million in taxes. When they lose everything they've worked for over the years and are left living in a refrigerator box they may rethink that saving 2 percent for a rainy day idea.

  6. #21
    VIP Member Array ccw9mm's Avatar
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    Quote Originally Posted by NDCent View Post
    In 6 months they'll find out they still owe a couple million in taxes. When they lose everything they've worked for over the years and are left living in a refrigerator box they may rethink that saving 2 percent for a rainy day idea.
    I'm sure the taxes got stripped off the top before they ever saw a cent. The gov't gets its due up-front with these sorts of things, IIRC.
    Your best weapon is your brain. Don't leave home without it.
    Thoughts: Justifiable self defense (A.O.J.).
    Explain: How does disarming victims reduce the number of victims?
    Reason over Force: The Gun is Civilization (Marko Kloos).
    NRA, SAF, GOA, OFF, ACLDN.

  7. #22
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    Quote Originally Posted by paul34 View Post
    I'd probably pay off debts of very local family (like mortgages, student loans, etc), retire my parents, and put a bit in my savings and give the rest away.
    +1

    I wouldn't want the publicity if I won and would stay on the down-low.
    Babyhulk
    NRA Life Member since 2010

  8. #23
    Member Array 120mm's Avatar
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    Quote Originally Posted by ccw9mm View Post
    Over the years, Warren Buffet was lambasted for "hoarding" his cash and making the pile as big as he could with very little philanthropy (relatively speaking). His rationale was that he was fairly certain he was a better judge of how to heap cash into a bigger pile than anyone else he knew, so he'd keep it for the time being. And, right he was. Now that his pile is of a fair size, he's doing exactly what you suggest: guiding his funds to the best non-profit methods he can find for helping others. Smart, if ensuring quality use of the funds is the goal. Compare that to any of a hundred different organizations we're all familiar with, in which a huge percentage of the funds goes to maintaining the "machine's" administrative and fund-raising functions.
    One of my many duties in my current position is to evaluate how effectively NGO and national development money is spent. And, trust me, the great majority of these funds are wasted, stolen or used in ways which benefit the wrong people.

    The answer is to do due diligence, focus funds exactly where you want them, and follow up to ensure they were spent wisely.

    People who manage development are often sketchy-thinking "do-gooders" who couldn't organize a kindergarten trip to the candy store.

    I'd love to work the rest of my life doing that very thing; having my own fortune to spend on it would be icing on the cake.

  9. #24
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    I don't care what anybody else does with their own money as long as they are not using it to take out a "hit" on me.

  10. #25
    VIP Member Array ccw9mm's Avatar
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    Quote Originally Posted by 120mm View Post
    One of my many duties in my current position is to evaluate how effectively NGO and national development money is spent. And, trust me, the great majority of these funds are wasted, stolen or used in ways which benefit the wrong people.

    I'd love to work the rest of my life doing that very thing; having my own fortune to spend on it would be icing on the cake.
    I once read an interview of the guy who had the job of investing Bill Gates's private funds ... $11B or so, at the time. I'm sure that with the Gates and Buffet fortunes pooled together and they're now doing a huge array of things, the foundation could use all the honorable mental "muscle" it can find in order to ensure the funds are well managed. Who knows ... when you get back from the sand box, head to the northwest, and ...
    Your best weapon is your brain. Don't leave home without it.
    Thoughts: Justifiable self defense (A.O.J.).
    Explain: How does disarming victims reduce the number of victims?
    Reason over Force: The Gun is Civilization (Marko Kloos).
    NRA, SAF, GOA, OFF, ACLDN.

  11. #26
    Member Array 120mm's Avatar
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    My work partner and I are looking for that very thing. Of course, $11 million would make a nice start. My wife and I have been doing something like this with our 10% tithe since 1999. Focusing it on things we can touch and supervise to ensure it is spent wisely and effectively.

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