What If You Had Millions?

This blog is my imaginings about what I would do if I won $14 million in the Powerball lottery.

Saturday, September 11, 2010

Today's lottery jackpot (according to signs I've seen) is $79 million.

Divided by 30 years, that's 2.6m a year.
Divided by 12 months, that's 219k a month.
Multiplying by .6 for taxes, that's 131666 a month.

I figured out that you could hire 16 people for $8,000 a month with that. Who would I hire?

Well, my first thought was to make a neighborhood program and go around asking all the people in the neighborhood if they owned their houses and what repairs (if any) they wanted to make on them. Then I would write a check for 8 grand to 15 of them (leaving one 8 grand for me). I would do this each month for the next 5 or 6 months until my whole neighborhood was covered.

My next idea was to open an office. I would put an ad on TV or in national papers saying "Do you know someone who needs some help? Call me" and give a 1-800 number. I would hire four people to answer the phone, six people to deal with six segments of the country and four or five more people to work on notes or projects of mine. (Ha! That's 15 people! [I hadn't worked it out in advance.]) I was thinking that not everyone would make 8k a month, since that's an exhorbitant sum. But I would have to rent the office space, so that would cost me something. The phone answerers would be paid 2k a month; the segment people 5 or 6k, the project people 3 or 4k a month.

4 X 2k = 8k
6 X 6k = 36k
4 X 4k = 16k

That still leaves plenty to award some to callers each month and to pay other things like health insurance and retirement for my workers. (Actually, it's 60k, so that leaves 70k to work with.)

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One thing it would behoove me to do if I won the lottery is hire a cook. Someone to make me good, healthy meals rather than the takeout crap I eat now. I know I should learn for myself but am I really going to do that? Not at the moment. So let's try to make the situation better with the resources we have and work on the "my learning to cook" later.

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Going on the formula I came up with above, if I'm getting $28k a month, I can pay 5 people $5k each (a month) and keep $3k for myself to pay my bills (possibly supplemented by income from a job, if I should choose to get one).

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