The Powerball jackpot for tomorrow night is now estimated to be at least 1.5 billion dollars. I’ve spent a little bit of time thinking about what I would do with my winnings.
First a little bit of lottery math. The jackpot number is a pre-tax number, if you take it in annual installments. I don’t want annual installments, I want it right now. The lump sum payment will probably be about $900 million, before taxes. After taxes, it will probably be about $600 million.
Unfortunately, that is not enough for me to purchase my favorite NFL football team. So instead of doing that, if I won, I would give it all away. Every penny.
I think it would be really fun to be the first person in history to give an entire lottery jackpot away. I would love to give some of it to the Wards, Augustines, Alberts, Lubriscianos, Friedmans, Wagers, and Hills. It would be a lot of fun to get all of my relatives together, and thank them for everything they’ve done for me. And then hand them manila envelopes with a check for, let’s say, $2 million apiece.
I’d make sure that Theresa and the girls were well taken care of. Enough to live off of the interest for the rest of their lives. A thank you for a job well done.
Then I’d love to start a charitable foundation. Not one of those phony-baloney things that athletes and celebrities do as a tax scam. I mean a foundation that has no expenses, just a small group of people who think about the best way to make a difference in the lives of others with charitable funding. I’d fund it with, let’s say, $100 million. A foundation like that could give away at least $5 million a year, and live on forever.
What would happen if someone gave away a $1.5 billion lottery? I think people would freak out. The internet would probably melt. Nothing like it has ever happened.
It’s not like I really need the money. If I want to take my sweetie out for dinner, I can. If I want to go to an Eagles game or a Bruce Springsteen concert, I can. None of that would change. We have enough food in the fridge, and I have enough socks. Darwin has more squeakie toys than any other Schnoodle.
But what I can’t do right now is to pay off everyone’s mortgage. Or fund everyone’s college tuition. Or start a charitable trust that can make a difference in the lives of thousands of people.
That would be a lot of fun.
Bring it on.