What Would You Do With $1.5 Billion?

For much of the week the entire country was obsessed with the Powerball jackpot which, by the time of the drawing on Wednesday night, had climbed to $1.5 Billion. Yes, there is a ‘B’. It didn’t matter what your line of work or where in the country you called home, the lines at the local gas stations, 7 Elevens, and any place that sells lottery tickets were long and the stacks of tickets that people were buying were high. Even those who seldom gamble, and that is what this is, disregarded the long odds and bought tickets. And I was one of them because ‘eh, what the heck.’ Actually, I got two for myself and contributed two dollars to the office pool as well.

One of the interesting things that happens to anyone when they get a lottery ticket in their hand, especially with such a high potential payout, is that you can’t help but think about how you would spend the money should your numbers match. Most of the people I have talked to over the years and what seems to be common in the stories that you read about or watch on television is that a new house, car, and some outrageous vacation are where at least some of the money goes. Well, while tempting and at the same time not eliminating the possibility, it is not what I have on my list. When looking at the $1.5 Billion payday, here are some of the things that came to mind. Here is how some of my initial expenditures broke down in my mind:

·         $10 Million as emergency funds for my employer.

·         $2 Million to each of my 10 coworkers (under the condition that they continued working).

·         $10 Million each to various family members (siblings, aunts, uncles, nieces, nephews, etc.).

·         $20 Million to my parents.

·         $20 Million to my lodge.

·         $10 Million to the Grand Lodge of Pennsylvania.

·         $5 Million to my masonic district / district school.

·         $1 Million to each of the other lodges in the district.

·         $5 Million to Help for Heroes Fund.

·         $1 Million to various friends (we have a list).

·         $1 Million into college funds for our son and each niece and nephew.

·         $10 Million to each of our undergrad and graduate colleges.

·         $2 Million to the NRA.

·         $10 Million to the Rotary Club of Bala Cynwyd – Narberth.

·         $3 Million to pay off all debt and for some intense splurging throughout the rest of our lives (houses, cars, vacations, etc. would have to fall into this).

·         $20 Million Trust Fund for our son.

·         $10 Million each to Nefesh B’Nefesh and the Jewish Agency for Israel.

·         $10 Million to each of the Synagogues that have welcomed us and supported us over the years.

·         $5 Million to cancer research.

·         $1 Million for hiring genealogists to research all family lines.

·         $5 Million to the Monacan Indian Nation.

Adding all of these up it comes out to approximately $350 million. So, if you do a little calculating, it breaks down in the following way. When you look at the $1.5 Billion Powerball Annuity Jackpot, the lump sum option was approximately $900 million. Out of that $900 million you have to assume that you are going to lose about half to various taxes leaving you with $450 million. Once you subtract the $350 million in distributions above these leaves a total of approximately $100 million in the bank. It would be nice to sit back and relax never having to worry about finances again (especially without debt and with splurging already included into the budget).

Mortgage Monday: The Beginning

It is time for a new series… having purchased and moved into our new home last week I thought it appropriate to write a post every Monday about being a new homeowner. While the topics may vary these blogs will all be rooted in our recent purchase, the process, and some of the things that happen along the way. I will be writing about the services we use, experiences we have had, or simply how much things have changed in comparison to our years (and year) or renting. It is certainly a change for us but a great one that I want to share with all of you that continue to read these posts.

The process of finding a home was a long one to say the least. As I have written about numerous times before, this has been a dream of ours for years (certainly preceding the formation of this blog) and a search that has taken us to numerous places throughout the area, into other states, and even to a foreign country. While our criteria has changed since our first discussion about what we wanted our home to be, we currently find ourselves in the perfect place at the perfect time. Finally, we have a place to set our roots and a place where we can raise our son.

Looking back there are certainly things that we would have liked to have changed along the way. Even recently, it took a deal falling through on inspections in order for us to find our perfect home but, as we have been told many times before and as we keep telling ourselves, things happen for a reason. However, while we are happy with this wonderful change and becoming homeowners, my wife and I definitely agree and wish that this whole process had gone differently. Our ability to find a home came at a price that we were forced to pay and we know that we would give this all back if a refund were offered.

Look for more posts in the future that will get into some of the additional details about the process and some of the experiences that we have along the way both good and bad (hopefully there will be an absence of content for the latter). But, for now, we are going to enjoy this new way of living and the additional comfort and security that owning a home has to offer to us. And, of course, some stories about the adjustments that we are all making to this new reality.