I am not generally one to write about something topical, but I could not resist the topic of tonight’s Powerball drawing. In Texas, you can not remain anonymous if you win the jackpot. You can potentially set up a LLC, and claim it under the company name to remain anonymous, but I know myself well enough to know that I would be to anxious to claim my prize to take the time to do this. In short, the world would know if I won.
I am pretty sure that this would ruin my life.
Like everyone else that has purchased a ticket for tonight’s drawing, I do find myself wondering what I would do.
First, I would set up a trust, so that in the event of my death, before I have a chance to spend or give the money away, all of the money would go into a trust that Brainy Bird and Little Chirp could not touch until age 40. I want them to establish themselves, and earn things for themselves, so that they would one day appreciate the money. Such a trust would also ensure that no one tries to claim a share of the money in the event of my death.
Second, I would plan my retirement for age 40. This would mean finishing up the projects that I am working on and then being done with work forever on my 40th birthday, which is in February of next year. I would continue to live on my present income until my retirement. When people come asking for money, I will explain that I am simply investing the money, and that I am not spending any of it. I would then spend my free time away from work planning how to spend the money. I am hoping that by the end of 2016, my fifteen minutes of fame will be over and people that I do not know will have forgotten about my new fortune.
Then at the end of the year, I am going to choose a select group of 6 people to give a large portion of the money to. Why 6 people? Because 7 is a good number, and I would be the 7th person. The selection of these people will not be based on my love for them or how close I am to them. The selection will be based on a few key things:
- They are fun people; I enjoy their company. They are people that I always look forward to seeing. This is key as this little circle will have quarterly meetings to discuss our fortunes.
- They are people that accept responsibility for their actions and the outcome of their actions. I would never feel guilty if one of them became a loser alcoholic because they no longer have to work because they are people who take accountability.
- They haven’t asked me for a dime. They have actually bought me a drink in 2016 as they do not expect me to pay their way. There is something nice about the gesture of buying someone a drink.
- They are notably intelligent, and they have ideas that differ from my own.
- They are people that I trust and respect. This is obvious, but it is worth stating.
- They are generous towards others, good tippers, and they enjoy the company of people from all aspects of life.
- We have at some point weathered some type of intense stress, crisis or tragedy together.
- They enjoy nice things and they like to have fun, but they currently live below the means that their income provides.
- They are willing to sign an agreement that outlines the terms of their receipt of the money. They become a committee, which meets quarterly. They are now responsible for giving some % of the money to good causes. They decide as a committee what to do in the way of charity, and anyone that asks me for money will be referred to the committee. In the event that the committee votes 3 to 3, I have the tie breaking vote; otherwise, I do not vote.
Is this plan half baked? Absolutely! That is why I plan to take the year to iron out all of the details. My response plan for an alien invasion is also half baked, and I read somewhere that I have better odds of meeting an alien from outer space than winning. Will I lose friends over this selection of some people over others? Nope, if someone ended our friendship because I didn’t choose them, they were not my friend in the first place.
This evening, I will go for a run, and I will go to bed early before the 10 PM drawing. In the morning, I will check my numbers before I drive in to work. If I win, I will take Friday off to claim my prize. There is an excellent chance that I will be at work on Friday, but wouldn’t it make for an interesting blog going forward if I did win?