7 Quick Takes Friday - Lottery edition - March 30, 2012
Well, I did it. I bought a lottery ticket today. Yes, just one. With odds of one in 176 million, I won't win, but I thought it'd be fun to dream about what I would do with 347 million dollars.
The first thing I'd do would be to hire a tax attorney and a financial advisor to get the best advice on investing and tax liability when I start spending my money. Actually, we'd probably hire Collin's brother as our financial advisor. Not sure who we'd use as our tax attorney.
Once all the tax/financial mumbo jumbo was taken care of, I'd calculate how much we could invest to enable us to comfortably live off the interest for the rest of our lives, and invest accordingly. We'd also invest enough to pay for the kids' college educations.
At that point, I'd pay off all of our debt -- mortgage, car payments, student loans, everything. Then, I'd pay off all the debts of immediate family members (with the exception of credit card debt -- they're on their own for that). I'd also buy my father and my brother houses, since both are renting right now.
Then the charitable giving would begin! I'd give enough money to my parish so that they could finish furnishing the interior -- pews with kneelers (we don't have them yet), statues, stained glass, the works. I'd also give my church money enough to enlarge the parking lot and build a new social hall/office, as well as a Catholic school (once that school was built and staffed, I'd send my kids to it).
Several of my favorite non-profits would get an extremely large donation -- Reece's Rainbow, Maggie's Place, 1st Way CPC, Immaculate Heart Radio, Catholic Answers, St. Vincent de Paul, and others.
Travel would also be on the list! First and foremost would be a cruise to Italy. My dream is to someday see the Vatican. We'd also go to Disney World, and all around the country visiting friends and family.
Finally, if we had any money left over (hah!), I'd pay to have the entire interior of my house painted a color other than peach (almost every room in our house is peach, and I loathe it). And I'd install a jacuzzi tub; maybe two (one outdoors and and one indoors).
Oh, I'd probably go back to school, just for fun, and get a master's in Catholic theology (or a similar degree program).
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