I often think about what ludicrous things I would do if I struck it rich. Be it the lottery, or striking oil in my back yard or some wealthy relative that I had no idea about kicks the bucket and leaves me their entire fortune (it could happen!).
This week there will be a Powerball Lottery drawing in the US that is expected to reach 1.4 billion dollars with a B, so I started to think about what I would do with that kind of money.
Take Care of Family
The very first thing I would do is wipe out the debt of any family members who may be carrying any. This includes paying for their houses, cars, credit cards and the like. I would make sure they each have a healthy bank account with 5-10 million to live off of.
Funds Used: $50 Million
Build a Custom Home
I would design and build a custom home which would include a data center to host my business in.
It would also include a pool and a lot of space for the kids to run around in.
I would build a full on movie theatre that would seat 10-20 people.
I would design a kitchen with all stainless steel appliances and with tons of cupboard space.
I would hire a full time cleaner that would simply keep the house neat and tidy.
Funds Used: $50 Million give or take.
Do Some Traveling
There are many places that Jenn and I would love to visit and experience, so we would spend quite a bit of time and money traveling.
Places we’d like to visit:
- Every single US state
- Every single Canadian Province
There are likely a lot more places we’d like to check out, but this would be a good start.
Funds Used: 5-10 Million
Do Some Investing
Personally I’d like to invest some money in riskier companies that banks and investment firms wouldn’t take a second look at. Preferably started by young people.
Funds Used: $40-50 Million
Help Some People Out
I’d like to meet with the city and province and determine how much money it would take to take care of each and every homeless person in this province. Clearly I can’t help the whole country, but I would like to do what I can for the homeless here at home.
I’d also like to fund some wishes for the Make a Wish foundation.
Funds Used: $100-$200 Million (Maybe more?)
Plan for the Future
With the rest of the money I would simply invest it for the future of our family, and to continue to do the things I’ve listed above in the long term. I would hire on a financial advisor to help with that.
I think that about covers what I would do with an insane amount of money. I’d make sure that my family, and the people in my province are cared for by someone.
Total Spent Immediately
$360 Million! This leaves over a billion dollars left to continue to keep my family and my province cared for.