Tuesday, March 26, 2013

Ten on Tuesday: 10 things I'd do with the Powerball Jackpot

The Powerball jackpot from last weekend was $338 mil or $211 mil cash.
Today the Powerball jackpot for next timie is at $40 mil or $25 mil cash.

Either is ok, but frankly, I have a hard time wrapping my head around the higher number.  Either one seems like it would cause some logistical problems.  For instance:  Can you really just throw it all into your savings account?  It's only guaranteed in the credit union up to $250k.    That's off by like orders of magnitude.

This is really a harder list to make that it seems like when you're just goofing off.

1.  Remodel the house.  Turn it into the thing I want it to be.  Carpets.  Kitchen.  Bathroom.  Paint.  Move into another place while it is happening.  Hire people to do the work.  ($100k?)

2.  Put aside more money for the kids' college funds. ($200k?)

3.  Replace the van ($30k)

This would really buy a lot of sock yarn.  And a place to store it.

4. Set aside money for summer vacations for the next several years ($100k)

Those are kind of the most immediate things to do with it.  After that, there's a lot of good you could do with the money.  I think it would be neat to start a foundation or combine it with an existing foundation to make grants (I don't even know the right phrasing to talk about being the person to be on the granting side, rather than the grant receiver side).


Donna said...

My parents and I have discussed it, and it is a bit tricky when it comes to investing it safely and properly. When it comes to spending though...

Teri said...

My husband and I always dream of volunteering our time as well in actually running the charity we'd donate too, or building our own local charity...

KnitNana said...

It IS hard to get your head around numbers that high!!
(and I'm an accountant)

Leslie said...

With numbers like that - Dreaming is fun!