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Tuesday, 12 January 2016

Comments

Mike, Mike, Mike--
you hire staff to do all those "menial" things!

come to think of it, you just hire one person and let them hire the staff! It's all new to me right now but I'll let you know how it goes after Wednesday!

I think that I read recently that most winners have spent it all (whatever that might have been) within four years after winning. Some years back there was an interesting article in the NYT that looked at a bunch of lottery winners. Aside from the idiocy that one might expect - some went from winning to being in debt - the most eye opening bit of information was that, if you took the winnings as an annuity and died, your estate was then liable for taxes on the balance that had not been distributed. That must be an interesting discussion with IRS! One thing for certain, when you win that kind of money all of your relatives and friends (real and imagined) have needs and you become the target of every charity and everyone with "a deal". That said, I'd like to give it a try.

I think you're looking at this all wrong, Mike. When you win a billion dollars, you don't have to manage it! You can just stick it in a regular savings account, that's giving you 1% interest a year, and you're good. That's 10,000,000 a year, for those who are hard of mathing. Taxes? You pay someone to do them. I don't see any other issues here.

Benefits? Well, for one, you can remove all your ads and affiliate links on TOP and not have to deal with the backend of keeping track of what money came from where and who's ad is due for renewal, etc.

Of course, you're not going to spend $10 million a year, so you give $9.8 million to that Native American cause you support. Win win!

I really don't see a problem here for you, Mike, so I say, go out and buy that winning Powerball ticket.

As for me, I'll make do with 1% of your yearly earnings, henceforth, for this great life advice I've provided. This is less than your Amazon commission! That's because you're an e-friend, Mike, and this is what e-friends do for each other.

Tell you what: buy a ticket and, should you win too much, I'll take it off your hands. ;-D

I've been saying the same thing - though I will buy a few tickets tonight! I'd like $500k-$1mil per year. That would allow me to continue living a better version of the life I already have. I like my life. I don't want to live somebody else's life!

Rich people don't need to "administrate" their Gulfstreams, they lease them.
Rich people don't leave their money to bankers either, that's why they stay rich. Banks are for the poor suckers, like me ...

Mike, If you only want a few million go with teh regular LOTTO. The odds are much better than PowerBall.

Hopefully you mean the Fiat 124 Spider, not the vanilla 124!

[Thanks Russ. Fixed now. --MJ]

I could use a new truck. The wife definitely needs a new car. A new computer would be nice. And home repairs...gotta get those taken care of. Otherwise, I'm good.

I don't even want a new camera.

I agree that more stuff equals more work. But, who says you need to buy all that stuff?

Personally I'd invest most of it and live off earnings. Pay off the mortgage, travel, and buy and camera I want. I don't think I would need 1.5 billion to make that happen.

I'm with you. Another problem with winning big money is relatives you don't like. I assume you have some; I do. If you win $40 million, or $1 billion, you can't exactly tell them you can't afford to give them any. But if you "only" win $4 million, it's easy to say, sorry (and get lost).

I've seen a couple of documentaries (on CBC and TVO, I think) about lottery winners. Some good stories, some not so good. Like finding out that people who you thought were your friends, aren't.

I'd go on more trips, or stay longer when I did go. My sports car days are behind me so no fancy car for me, but I would change car every 4-6 months because I really like driving a variety of cars. One of them would be a Buick to give all my friends a belly laugh (it would be highly out of character).

I'd never do my own home repairs again. I truly hate that.

I'd give 10% right off the top to someone I knew casually, who is not related to me, but who needs a helping hand because life has been difficult.

And I'd give a fair bit to local charities and arts organizations because I'd feel guilty having won a lot of money for no good reason.

Well, you might as well win big. First, it's only 1.5 billion if you are the sole winner and opt to have it paid out over the next 29 years (vs. a measly 930 mil payout). Second, the tax folk may take up to 40% and fourth,* about 70% of winners have nothing left within the first 1 - 5 years.

Peace, and all that.

Dean

* Can't do maths, so this whole thing is suspect

I could marry Jerry Hall.

The most rewarding purchases I made were paid for with money earned out of hard working. Once I inherited a substantial sum of money, which allowed me to buy some things I craved, but could not afford with my regular income. They never satisfied me as much as the ones I bought with my hard-earned money. There's just no long-term gratification when it's too easy.
So not a lot of daydreaming from me, not too many "what if I won the lottery" thoughts. Like you, I wouldn't know what to do if I won €156.000.000,00. I'd probably make some ruinous investments and find myself left with just a few bucks in my pocket. (Good thing I don't even buy lottery tickets.)
If that kind of money entered my bank account by accident, however, I know I'd spend a lot on photography. I'd have my own darkroom and buy a few cameras and lenses (not too many, though), but I'd surely buy lots of prints from the photographers I love. (Oh, to think I could own a print of 'A Walk To Paradise Garden'...!) Maybe I'd become some sort of curator, fund scholarships, and open a photography school. Or create a foundation to promote young, needing photographers. I really don't know what I'd do with such silly amount of money.
One thing is sure: I'd definitely never let go of my Olympus OM-2. I'd keep using it regularly. It would be my Rosebud. One must never forget where he comes from, you know...

Why the Fiat instead of the MX-5?

[Because I won the lottery, of course. Otherwise it would be an MX-5. --Mike]

I don't buy powerball tickets or any kind of lottery chances but if I did and if I won and suddenly found myself a gazillionaire, I'd splurge on a really expensive point & shoot, probably a Sony RX1R2. Then I'd hire consultants and set up a philanthropic fund and work hard giving my money away. Maybe I'd call on Melinda Gates for some practical advice.

[24/7 Wall Street has an interesting article about what not to do if you won the lottery, and that's on it. Their advice is that if you want to give it away, do it like real rich people do and give away your estate after you die. --Mike]

I've never bought a lottery ticket of my own but have participated in group purchase with coworkers whenever the total got high enough. Now that I'm retired I don't even do that.

In addition to the difficulty of figuring out what to buy and what to pass on, there is the more complicated and difficult process of figuring out who to help and who to ignore.

On the one hand, the Nigerian prince who will give one millions of currency for a little help cashing a check is very easy to dismiss. The widowed mother of 5 whose youngest is battling cancer and requires such care that she really can't work and thus is not able to provide well for the other four children can't be so easily dismissed. Several hundred requests like this and what does one do? One risks foolishly helping people who are just scamming or cynically dismissing people in dire straits.

I've read that some winners end up getting unlisted phone numbers and moving with no forwarding address. Some say that winning the lottery did not really improve their lives in any lasting way.

I'd be happy with enough for a down payment on a modest house in the country here in western WI (or in upstate NY), and a Leica type 246 with three lenses. But I don't believe that I'd ever win so I don't even try. In the first birthday draft lottery in 1969 or 1970, I got a very high draft number. That was enough random luck with numbers for me.

Mike you now play the Powerball ONLY when it gets above 300 million as your odds of winning are about that. If you have issues with the amount of money just plan to give it away to a charity or charities of your choice.

I've not purchased a ticket in a year or more since they added more numbers to drive the bucket so large. I might purchase a ticket or two if I happen to stop by a lottery sales option. But it's not because I think
I might win, that is pretty much completely delusional, it's a form of entertainment to give me a few minutes of thoughts of what I would do if I won.

Mike, who cares what "the culture" tells us we're supposed to want to do with lots of money? I, being mathematically literate, know that whether it's Powerball or some other lottery grand prize, the probability of winning is approximately equal to zero. However, I can't convince my wife. So, just in case one of the three Powerball tickets she just insisted we purchase is the winner, here's what I plan to do with that $1.5 billion.

First, virtually all of it will be put into T-bills. Just like Ross Perot did with his nearly $4 billion when he sold Perot Systems to Dell. Who cares if the rate of return is zero or even negative? There's no way anyone could "use up" $1.4 billion in a lifetime. Stability and security of the capital is foremost. If the federal government defaults on those T-bills, there's no other 'investment' that would have been a better choice.

Next, everyone in my close family would immediately cease to carry mortgages. They'd all be paid off. But that's it; no additional short-term largess.

Finally, I would essentially continue living pretty much the way I do now. Yes, there are a few things I'd do with some 'mere' millions. For example, I'd work with the remains of Fidelity (Calumet) and/or Toyo to have some modern, plastic whole plate film holders made. Also, I'd contact Keith Canham and order an entire master roll of 320TXP custom cut to whole plate size, then put it in freezers. I'd travel more, and perhaps buy a different house amenable to inclusion of a permanent darkroom. However, my day-to-day routine wouldn't change much. No fancy cars or Gulfstreams. Not interested.

If you, on the other hand, really do covet that airplane, note that the jackpot is large enough for you to hire a full time administrator who would look after its maintenance and crewing. The same goes for any other 'toys' you'd be interested in. Extraordinary wealth affords one an opportunity to be free of management tasks. Just don't farm out financial management.

Oh yeah, I'd go Benjamin Marks one better. If I win, not only will TOP be permanently funded, I'll include you in the list of those whose mortgages will disappear. Thanks for many years of reading pleasure.

Sal,
Re: "Next, everyone in my close family would immediately cease to carry mortgages. They'd all be paid off. But that's it; no additional short-term largess."

I'll tell you why that wouldn't work. Because not everyone in your family has a mortgage. And some have larger ones and some have smaller ones.

Let's say you have a relative who is prosperous and has already paid off most of their mortgage. Another family member is irresponsible and has bought more than they can afford and mortgaged themselves to the hilt. You pay off both, but you have created resentments because you have benefited the less deserving relative more.

What about family members who have not yet bought a house? Like my nephew who is still in college but just got married. Let's say you offer to pay their mortgage once they do buy a house. But, knowing that, instead of the $150k starter house they would have bought on their own, they buy a house worth ten times as much. Why not? You're paying. The rest of your relatives now feel shortchanged, and begin to clamor for you to pay for new houses for them, too.

The situation would be a mess before you know it.

And so it would go. --Mike]

I always thought it was a tax on people who are bad at math :)

I figured out what I'd do if I won. I'd go to someone like Bill Gates or Warren Buffett and try to set it up so that I'd get paid something like $250,000 a year for the next 40 years (so my wife and I could both quit working and enjoy some luxury) ... maybe a few anonymous gifts to friends ... in return for giving the winning ticket to the Gates Foundation. (I'd explore other options, too, but the idea would be that 98-99% would go to a charity that would do good work with it, I'd have financial security for life and no attention).

Nice dream. I don't buy tickets so my chances are zero. But that's about the same as people who do play.

Somehow, the $1.5B doesn't strike me as exciting as when it approached $400M. Maybe that's just me.

Regardless, I bought a couple tickets, and also bought into the office pool. In the highly highly highly unlikely event I win, I just want for myself about the same amount you mentioned, and I would try to beneficially give away the rest of it. (Maybe I'd peel of a hundred mil or so to fund a PAC to run ads for the Presidential election. I'll call it "Truth Trumps Blusterers")

I think I know how to use all that money - I have some schools that have helped my son immensely, and they need strong endowments. I could also fund an NGO I have worked for and could always well use the funds. And finally, and this would take up a huge chunk, do a PR campaign for the US. Too many people are running this country down and/or think poorly of it. Yes, we have our problems, but we also have way more positives than negatives. People need to be made aware of that and come together and make us even better.

Then of course a tiny percentage for some camera gear and digital darkroom!

Several people missed the last lottery by one number and each won a million dollars. So you might have gotten close to your wish.

Benjamin Marks got the punchline wrong. It's a tax on people who can't do math.

I'm with you. I wouldn't want the responsibility either. I bought a ticket and immediately regretted it. There's something obscene about the whole thing.

First, if you take the lump sum it's only about $900 million, and after taxes it's about $500 (depending on where you live). Much more manageable.

Second (and clearly I've given this too much thought) I would immediately give most (say $400 million) to my favorite causes/charities. That way, if I screw up the management of the rest, I won't feel too bad.

Third, pay off all our debts (by which I mean the debts of all the people in my immediate and near-immediate family), give generous gifts to all my friends (and favorite web blogs) and buy an annuity, one that guarantees say $200,000 - $300,000 a year forever (or a good approximation of forever).

After all that, I can be a little irrationally exuberant with the rest (luxury apartments in New York and Paris anyone?) and not worry if it doesn't turn out exactly right.

I'm in the office pool, mostly as insurance that I won't be left alone when everyone else wins.

Like you, I don't really have the interest or inclination to manage that much money. My plan, when I win, is to peel off $5-10M, use that for myself and my family, and start a foundation with the rest, the beneficiary of which is as yet undetermined.

Oh, yeah. And get a NetJets membership. No more flying coach.

Exactly. IMO the right amount of money is: "just enough to free you from having to worry about money (and, by extension, all the complex stuff too much money allows you to indulge in)."

-Dave-

I was with you until the line about the Gulfstream. No more worrying about what will happen to my camera gear when some bozo crams what should obviously be a checked bag into the overhead? Yeah, I want one.

With that sort of money, you could hire professionals to manage all the annoying bits and still spend a goodly sum on mischief. :)

Go for it Mike, I can help you manage that.

You win the lottery and you go out and buy a... Fiat?

[What Chad said. --Mike]

It's certainly true that I don't really have the skills to actually do, myself, some of the things that come in the price range of the current lottery jackpot -- starting my own space program, for example. I'm certainly not an aerospace engineer, and I'm not a top executive type either so far as I can tell.

On the other hand, between multiple winners, the reduction in payout for cash today, and taxes, I'm in no danger of having $1.3 billion to dispose of anyway.

What's the minimum amount you have to invest to have a solidly upper-middle-class lifestyle (but not super-tycoon level) for the rest of your life, anyway? I think it's quite a lot -- you have to have enough to invest so that you can live on a small part of the earnings; because you have to reinvest quite a lot to keep your income at least stable in the face of inflation. (That's taking the extremely conservative approach of leaving your capital intact when you die; using annuities and such you can probably do it on less, but there are then also more ways for it to fail.)

So, let's say you can consistently get 5% return on your money. (Yes sometimes you can get more; but it looks hard right now to get even that much in anything safe.) Luckily it'll go up if the inflation rate goes up (and it's well-invested). But right not 5% is optimistic, and inflation is nearly 1%. So you need to add to your capital at least 1%, you can only spend the other 4%. So to have $250,000 income right now you'd need $6.25 million invested. If taxes on the winnings are 25% you need to receive $8.33 million (except there are usually state taxes to). And the cash payout is something like 47% isn't it?

So you need an almost $18 million "jackpot" to reasonably assure you $250,000/year, adjusted for inflation. And people are still arguing if $250,000/year is really still "middle class", some think it is.

So...you can live very well for a lot less than 1.3 billion. I hope nobody here is too surprised by that! But a jackpot of much less than $20 million doesn't even let you instantly retire in style.

It's good to see that the new 124 Spider carries the look of the original. Its father, the 124 Sedan, was an advanced vehicle in the recycle category as it eventually fell apart. The irony here is that Fiat sold the assembly machinery to The Soviet Union who renamed the car the Lada. Most of us in the West thought the cars life would now be far less but no, the Russians modified it to meet Russian conditions such that they became one of the World's relative long lasting cars. It is said that many of the old American cars in Cuba had their motors replaced with Lada engines.

As one of my friends used to say:

"I would spend half of it on booze and women... then waste the rest".

At one time I was fond of asking people what would they buy if they won the lottery. The vast majority , after specifying a better house and a nice car, ran out of steam. ISTR lottery winners in the U.K.don't all go mad.Its the house and the car and a holiday, then settle down

Trouble is you would lose all your friends, despite you're best intentions. Very few enjoy being hangers-on and less like sycophants.

Personally I might enjoy rubbing some peoples noses in it.

If you win it twice you just might be able to scrape enough together for a run at the Presidency.
Johnston V Trump in 2020. Yes We Can (but probably shouldn't). Has a certain ring to it, don't you think?

Ugh, that Fiat 124 Spyder looks NOTHING like a Fiat 124 Spyder. Just a bland, boring, forgettable replica.

Frankly if I won the lottery I'd buy an original... Or better, an Alfa Romeo Montreal.

A billion here, a billion there, and pretty soon you're talking about real money. One nice thing about winning a billion and a half dollars is that you could set up a trust and live off the interest. I'm not sure what the interest is on a billion and a half but I bet your banker would take your calls - and bring you a pizza, too, whenever you want.

Me, I'd start a magazine, build a house in the country of my choice (probably Denmark or Japan), and then split my time between travel, shooting, building my magazine, and enjoying the aforementioned pizza.

I got a few scratch tickets over the holidays. Won seven dollars. Quitting while I'm ahead.

Whether it's $1m or $1bn you don't actually have to buy or spend anything and if you don't want it all I'm sure you could find something or someone to bestow the surplus on. Perhaps a bursary.

More than one person has remarked that they would like to see more winners and less big huge pots. I, as well, look with trepidation at 1.5 billion when actually 300,000 dollars after taxes could fix my current problems and set me up for retirement.

Power Ball changed the numbers not long ago to push these big jack-pots, and make it harder to win, as well as charging more per ticket. I'd rather see 50 ten million dollar winners ever year, that someone winning 500 million dollars; it'd be better fort he economy. Instead of one person going out and buying a new Bentley, you'd have 50 people buying a new Mercedes!

Do you have a particular make/model pool table in mind?

Chrysler and FIAT as manufacturing companies are now one; that noted the FIAT
small vehicles recently released have proven expensive to purchase and maintain, at least here in this part of Canada. Suspect that 124 Spyder would be so likewise. However such would a rich man's toy. But then you would be so, having won the lottery.
It is always nice to be able to dream about
a "what if?" scenario.

I would choose a different car, and would probably pass on the pool table, but otherwise I concur entirely with the sentiment.

If I did win an obscene amount, anything over 10m, I already know which causes I would give the balance of it to. About the only thing to be said for all that money is that you could make a real difference to some people who were not so lucky.

What three cameras?

Seriously, Mike: What is the point of winning the lottery -- especially with a billion-plus jackpot -- if not to make a complete and utter fool of yourself? What better opportunity to lay down the burdens of responsibility and sobriety (except in the most literal sense)? Spend a few million to save starving orphans, dogs, and cats (cats optional) to assuage whatever guilt was beaten into you, then go buck wild. It's your right as an American.

Mike,

What three cameras????

Uh... you don't get $1.5 billion. You have to pay taxes. If you hire clever tax attorneys you get to keep about 25% of $1.5 billion (maybe a bit more).

Obviously it also requires a significant effort to manage ~$375 million. The challenge is to structure donations and gifts to minimize the tax burden. The goal would not be to maximize your personal after-tax proceeds, but rather maximize how much you can donate and gift to others.

Let's say after taxes gifts and donations, you end up with $200 M. An average an after-tax return of 3% (not a very aggressive target) would bring you an income $2 M a year. (That's even more than Ctein makes selling prints!) That's like getting a $5.5 K check in the mail every day of the year.

Three things come to mind:

Private Jet

Personal Chef

Big Sur (even a small hone in Big Sur would do)

Re: "Next, everyone in my close family would immediately cease to carry mortgages. They'd all be paid off. But that's it; no additional short-term largess."

I'll tell you why that wouldn't work. Because not everyone in your family has a mortgage. And some have larger ones and some have smaller ones.

Let's say you have a relative who is prosperous and has already paid off most of their mortgage. Another family member is irresponsible and has bought more than they can afford and mortgaged themselves to the hilt. You pay off both, but you have created resentments because you have benefited the less deserving relative more.

What about family members who have not yet bought a house? Like my nephew who is still in college but just got married. Let's say you offer to pay their mortgage once they do buy a house. But, knowing that, instead of the $150k starter house they would have bought on their own, they buy a house worth ten times as much. Why not? You're paying. The rest of your relatives now feel shortchanged, and begin to clamor for you to pay for new houses for them, too.

Mike, I suspect one big reason you reacted that way is because we appear to have different definitions of "close family."

"Close family" to me is a very small number of people who I identify and who aren't necessarily tied to certain family tree positions. They're the ones who I want to have contact with, not due simply to accident of birth. You may be more of a "people person" and/or have more family members than I do, thus rendering you less able to selectively ignore relatives. Even without a fortune, my skill at limiting the number of humans I associate with is highly developed. :-)

To your specifics. If a relative I consider close is prosperous and already paid off most of their mortgage, I'd pay off the small remaining portion. If the other hypothetical relative who has mortgaged themselves to the hilt also falls within my close circle, I'd pay their debt off too. If either or both of them feel resentment as a result of these kindnesses, they'd quickly find themselves removed from those I consider "close family."

Young relatives who haven't yet purchased a house have no mortgages. I didn't offer to pay off not-yet-existing mortgages and won't. Despite hearing a lifetime of juvenile jokes about it, my last name is Santamaura, not Santa Claus. Your nephew in college is the son of one of your siblings. Assuming you paid off that sibling's mortgage, in my view, any help the nephew needs to establish a home should come from them. After all, you've freed them from their own home loan burden.

I started my comment by rhetorically asking who cares what "the culture" tells us about what we're supposed to want to do with lots of money. The logical progression is to ask who cares whether the rest of one's relatives feel shortchanged and clamor for one to pay for new houses for them too. Remember, it's your $1.5 billion. Get a new unlisted phone number and let those who feel shortchanged eat cake. :-)

like the old joke goes: what would you do if you won the Powerball jackpot? I'd pay off my debts. What about the rest? I'd tell them to wait.

Mike, I completely understand why you'd get a Spider.

As a teenager of driving age in 1971 I had access to a 1970 Renault r10, dark green, and a 1972 Fiat 124 Spider, blue with black top. God I loved those cars. The Renault had hand crank engine start as a back up. That was a hoot to use in front of a crowd.

The Spider obviously handled North Jerseys curvy mountain roads easily but so did the Renault with its rack and pinion steering and 4 wheel disc brakes. And a pretty zippy engine.

One summer night, while some friends and I were out cruising on a road running for miles around a huge reservoir, we got pulled over by a cop. I asked "what's up?" And he asked did I know I was doing between 40-60 mph on a road that was pretty much limited to 20-40 mph for cars with a 35mph speed limit.. I honestly had no idea we were moving that fast. The Renailt just hugged the pavement. Then the officer asked "what the hell kind of car is this?". When I explained everything to him he laughed and let me off with a verbal warning to take it easy.


http://www.curbsideclassic.com/wp-content/uploads/2012/08/Renault-R10-kurtzos.jpg

dd-b

FWIW, I wouldn't need that much to retire on. $250k sounds like a great number, but right off the bat, you don't need to save for retirement out of it. (Compared to saving 10-12% like I do now). And then, if you've already paid the taxes on all but the modest gains you're going to make after winning it, you're not paying much out of that $250k in taxes, either. So it's mostly all available for spending. Some people could blow through that easily; I'd have a hard time, at least after the first couple years (I like my house, but ...)

On the other hand, if I had that much money, I'd want to put some aside to secure my daughter's future. Regardless of how the numbers work out, a million ain't what it used to be.

My wife and I moved into an old house that needs more work than I care to think about, so a tiny fraction of our billion plus would pay the contractor for the year it would take to make pristine and efficient. Meanwhile we would travel, which we have never done in any serious way. Perhaps I'd spend some time in NYC and find a new camera at B&H, maybe even the Leica 246 and a couple lenses. As for the traveling, I like renting apartments in cool places. That sounds fun. After the house is done we could return, admire the handiwork, then sell it at a loss. Family generosity would indeed thrive. I'd feel guilty because philosophically I'm well to the left of Bernie Sanders. I'd likely have to give a substantial chunk to fighting global warming. I'm sure I'd give much of the rest to various causes. I like to imagine I'd put the money to good use, but who knows....

As many have said, the closest many of us will come to benefitting from this huge jackpot is playing the "what if" game. And, like many noted here, I'm well-practiced. Regardless of the amount, my scenario is debt elimination, gifting (and propping up) family members, switching to an efficient one-story residence, and then indulging in setting up and maneuvering a couple of charitable foundations, promoting quality performances of traditional classical music, encouraging the photography of beautiful things, fighting malaria and providing safe drinking water in Third World countries. (And, thanks for the tip re the 2017 Spyder. If I can fit my 6'4", 220-lb frame into one, I'm good.)

I'd buy a house in the Japanese Alps, one in Montana, and maybe a place in Manhattan. Spend lots of time traveling. Since according to an article I read somewhere this week that after taxes (including the extra 25% for lottery winners) I'd "only" have about $397 million left I'd have to be a bit careful. Of course then I'd have to pay heavy income taxes on it in Japan too. Probably end up with a mere 100 million or so.

On a darker note, imagine the security issues. I've been around very wealthy people (work related stuff) and at least one internationally known billionaire. Imagine having to protect your children, your grand children, even your pets, never mind yourself. Imagine having to go everywhere with an armed guard and living in a guarded compound or high rise building.

Yes, I'd love to go mad at the camera store and the motorcycle shop but that fun is fleeting. The stress of fending off bloodsuckers and crazy or evil people makes have vast wealth unappealing.

I'm very much with you, Mike, a few mil to gain some financial security would be nice, but more than that would surely bring new and unexpected troubles I don't need.

Alfa Romeo 4C Spider.

Ha, I would also buy a Fiat 124 Spyder. But my purchase would be a reasonably sound chrome bumper model from around 1970. I would do a full restore with minor upgrades. Why? Because it would sit nicely beside the 1964 Citroen ID19 I would also restore.

Doug, above, says, The stress of fending off bloodsuckers and crazy or evil people makes have vast wealth unappealing.

Funny, I thought that's what made being poor unappealing. But, anyway, back to being rich. Roadster-wise, I think I'd go with the 1957 Ferrari 625 TRC Spider. Apparently only two were made, but I only need one.

I wasn't raised "rich". As long as I can pay the bills, I'm fine without the lottery. But if I did play the Lotto and win, I'd make three lists: things I want, things I need and things others need. A week later I would look over the "want" list, shake my head and toss it in the wastebasket.

A month or six later, I'd cross off at least half of the items on my "need" list and put it away for another year.

Then I'd just donate at least 99% of the money to worthy causes and tell the naysayers to pick better numbers next time!

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