BS: How would you spend 10 million?

Subject: BS: How would you spend 10 million?
From: Donuel
Date: 31 Jul 23 - 06:03 PM

I would save 10% and make outrageously obvious and hysterical PSAs.
Some would end showing exactly what happens to people who disobey PSAs - like a Super Dave Osbourn sketch or Wile Coyote. THIS IS ONLY STEP ONE.

btw super dave AKA Funkhauser was Bob Einstien and brother of Albert Brooks. See him in 'Super Bob EINSTIEN MOVIE'.

Subject: RE: BS: How would you spend 10 million?
From: Mrrzy
Date: 31 Jul 23 - 10:00 PM

Hmmm. That is what I am owed in frozen terrorist assets.

Probably start an anti-religion educat I onal nonprofit.

Subject: RE: BS: How would you spend 10 million?
From: Dave the Gnome
Date: 01 Aug 23 - 02:41 AM

Buy Max some new kit with some if it :-)

Subject: RE: BS: How would you spend 10 million?
From: keberoxu
Date: 01 Aug 23 - 08:12 AM

Yes, there is the Mudcat itself to consider. Good one.

Subject: RE: BS: How would you spend 10 million?
From: Stilly River Sage
Date: 01 Aug 23 - 11:18 AM

I third that! Money well-spent! (And I'd invest most of it, otherwise. Live off of some of the interest, let the rest compound.)

Subject: RE: BS: How would you spend 10 million?
From: Doug Chadwick
Date: 01 Aug 23 - 11:33 AM

... and make outrageously obvious and hysterical PSAs

I looked up PSA and came up with Prostrate-Specific Antigen test but I don't imagine that's what you meant.

DC

Subject: RE: BS: How would you spend 10 million?
From: Stilly River Sage
Date: 01 Aug 23 - 11:51 AM

Public Service Announcements.

Subject: RE: BS: How would you spend 10 million?
From: Senoufou
Date: 01 Aug 23 - 02:51 PM

We often discuss this (I buy a lottery ticket every few weeks). My first concern would be my husband's African family (six brothers and sisters and their assorted children). We'd like to rehouse them all in a better district. Then I'd like to contribute to various charities such as Water Aid and UNICEF etc. My lovely neighbour who runs an animal sanctuary with her gay partner would also receive a goodly sum to help pay for the winter fodder and vet's bills etc.
In my husband's ancestral village Nafamadougou in the north of Ivory Coast the inhabitants would greatly benefit from a tractor to help with the cultivation of their food.
I'm totally uninterested in buying designer stuff (Gucci handbags, Rolex watches, diamond jewellery etc). And it would break my heart to leave this bungalow in our little Norfolk village.
Actually, I reckon winning a huge sum of money would create much stress and worry. Big Lottery winners have been known to ruin their lives with the ensuing problems.

Subject: RE: BS: How would you spend 10 million?
From: Steve Shaw
Date: 01 Aug 23 - 03:34 PM

I don't want ten million quid. Even if it's in dollars.

Subject: RE: BS: How would you spend 10 million?
From: G-Force
Date: 02 Aug 23 - 03:26 AM

Most of it would go on booze, women and fast cars. The rest I'd just squander.   (Apologies to the late great George Best).

Subject: RE: BS: How would you spend 10 million?
From: Senoufou
Date: 02 Aug 23 - 03:37 AM

I reckon that if all ones acquaintances/neighbours/family members found out that one had become a multi-millionaire, there would be problems with everyone wanting financial help, handouts and so on. I like to think I'm a reasonably generous person, but having constant demands could become a bit irritating.
My husband has always wanted a Range Rover Evoque or Defender. I expect we'd buy one of those if we won millions!

Subject: RE: BS: How would you spend 10 million?
From: Doug Chadwick
Date: 02 Aug 23 - 06:15 AM

STEP 1: Keep the level of my good fortune to myself.

STEP 1A (if STEP 1 fails): Buy a waste bin to be placed behind the letter box for ALL begging letters, no matter how deserving or heart-rending the appeal.

STEP 2: Give an equal share of half of the money to the immediate family. Advise them to do the same.

STEP 3: Direct any requests from more-remote family members to the appropriate family member further down the chain.

STEP 4: Decide, at my leisure, if there were any good causes I wished to help.

STEP 5: Enjoy life.

Subject: RE: BS: How would you spend 10 million?
From: Doug Chadwick
Date: 02 Aug 23 - 06:39 AM

I don't want ten million quid. Even if it's in dollars.

If it's a problem, I'll take it off your hands, Steve. Always glad to help out where I can.
;-)

DC

Subject: RE: BS: How would you spend 10 million?
From: Steve Shaw
Date: 02 Aug 23 - 06:41 AM

Nothing personal, Doug, but you'd be a fair way down the queue. :-)

Subject: RE: BS: How would you spend 10 million?
From: Donuel
Date: 02 Aug 23 - 07:56 AM

Over here there is a Billion and a quarter dollar lottery up for grabs. In quick cash it would be a 600 million dollar winner.

Subject: RE: BS: How would you spend 10 million?
From: Doug Chadwick
Date: 02 Aug 23 - 09:19 AM

I have never bought a lottery ticket and don't intend to start now, so 6 million, 60 million or 600 million, it makes no difference to me. I am a winner though, because I have been in organisations which benefited from lottery funding without me ever having made a contribution.



DC

Subject: RE: BS: How would you spend 10 million?
From: Charmion
Date: 02 Aug 23 - 01:12 PM

My husband used to say that, if he had a million dollars, he would just keep on practising criminal law until it was all gone.

Subject: RE: BS: How would you spend 10 million?
From: Sandra in Sydney
Date: 03 Aug 23 - 10:11 AM

Eliza - I have a very old cartoon in my collection that was cut from a newspaper! Recent examples are all electronic as I ran out of space for paper ones.

An old couple are crying as they look thru 2 almost human-sized mail sacks "I never knew there was so much misery in the world until we won the pools!"

Subject: RE: BS: How would you spend 10 million?
From: Stilly River Sage
Date: 03 Aug 23 - 11:32 AM

So, should I go spend $2 and see what the fuss is about with this latest big lotto in the US? I think Texas is a participant. Have to do it today, though, the lines and the machinery get clogged right before the drawing. (If I win, Mudcat is on the top of my investment list!)

Subject: RE: BS: How would you spend 10 million?
From: Dave the Gnome
Date: 03 Aug 23 - 02:15 PM

Go for it Stilly!

Subject: RE: BS: How would you spend 10 million?
From: Doug Chadwick
Date: 03 Aug 23 - 03:17 PM

Keep your $2, SRS.

It's the small stake that the multitude of losers lay out that makes the money for good causes, operator's profit and any taxes the government might receive, before you even get to the prize. The bigger the prize, the more losers there are.

DC

Subject: RE: BS: How would you spend 10 million?
From: MaJoC the Filk
Date: 03 Aug 23 - 03:41 PM

> The bigger the prize, the more losers there are.

And the greater the attraction to each potential loser: it's only the jackpot winner who gets the headlines, not the millions of little losers. I remember hearing that the pools companies in the UK once decided to restrict the maximum payout, and to distribute the difference round the lesser prizes (in the interests of fairness); but the number of punters, thence the overall take, went down measurably. Once the jackpot limit was relaxed, and the first millionaire pools winners hit the news, the punters flooded in again.

It Could Be *You*.

Subject: RE: BS: How would you spend 10 million?
From: Doug Chadwick
Date: 03 Aug 23 - 03:56 PM

It couldn't be me. I'd have to buy a ticket first.

DC

Subject: RE: BS: How would you spend 10 million?
From: MaJoC the Filk
Date: 03 Aug 23 - 04:04 PM

I was carefully refraining from quoting the joke about Solly praying in the synagogue to win the jackpot on the lottery ....

Subject: RE: BS: How would you spend 10 million?
From: Sandra in Sydney
Date: 03 Aug 23 - 05:27 PM

late last century my colleagues bought tickets each week, & the lovely friend running it tried to get me in as it was going to be $30M next week!!!

Naturally they were going to get more tickets. I kept trying to tell her that's why there was a huge prize, but she couldn't understand & felt sorry for me!

Subject: RE: BS: How would you spend 10 million?
From: Senoufou
Date: 05 Aug 23 - 03:21 AM

You're right Doug. My husband speaks with a very French accent, and always says, "You 'ave to bee eeenit to weeenit!"
I tend to be rather too philosophical these days, and in my view riches don't necessarily guarantee happiness. Many ladies in our village have lost their husbands recently, and one younger woman across the road has been diagnosed with cancer. No amount of millions would restore their happiness. I reckon I'd just give the lot away to those in need.

Subject: RE: BS: How would you spend 10 million?
From: leeneia
Date: 05 Aug 23 - 02:11 PM

If I had $10,000,000 to do something with, the first thing I would do is split it into three or four parts and do different things with them. That's too much money to make one bet on.

Subject: RE: BS: How would you spend 10 million?
From: Mrrzy
Date: 06 Aug 23 - 10:53 PM

Senoufou, call that a French accent? Giggle...

Subject: RE: BS: How would you spend 10 million?
From: Donuel
Date: 07 Aug 23 - 05:52 AM

The lottery is now 1.55 BILLION

Subject: RE: BS: How would you spend 10 million?
From: BobL
Date: 07 Aug 23 - 06:24 AM

"Big Lottery winners have been known to ruin their lives with the ensuing problems"

Doesn't surprise me, Sen. I reckon that people who can manage money aren't going to buy lottery tickets.
Remember that lotteries are financed entirely by the losers.

Subject: RE: BS: How would you spend 10 million?
From: Steve Shaw
Date: 07 Aug 23 - 06:47 AM

Well I buy one and a half lottery tickets per week (the other half is the share of one of them with our best friend). I don't do any other gambling. We've had the exact same numbers since the very first day of the lottery thirty years ago. We've had lots of little wins, but, as with all gambling, they are completely outshone by the overall amount we've spent. I can afford it, I'm about as far from being a gambling addict as it's possible to be, it's a bit of fun for us, I'm realistic about my minuscule chances of winning big and I know that some of my dough (not enough) goes to "good causes." I've always managed our money quite well too. So I'm assuredly removing myself from membership of your category of "losers." If I do win big, Bob, don't worry, I'll send you a tenner.

Subject: RE: BS: How would you spend 10 million?
From: Doug Chadwick
Date: 07 Aug 23 - 07:00 AM

If I do win big, Bob, don't worry, I'll send you a tenner.

I asked first!

DC

Subject: RE: BS: How would you spend 10 million?
From: Steve Shaw
Date: 07 Aug 23 - 07:07 AM

I've got you lined up for twenty, Doug, albeit not a large sum...

Subject: RE: BS: How would you spend 10 million?
From: Doug Chadwick
Date: 07 Aug 23 - 07:10 AM

;-)

Subject: RE: BS: How would you spend 10 million?
From: MaJoC the Filk
Date: 08 Aug 23 - 07:33 AM

The only winner in gambling is the house. I remember hearing (decades ago) of a lottery syndicate which realised they'd hit the jackpot .... only to discover that the person buying the tickets, well, hadn't.

Subject: RE: BS: How would you spend 10 million?
From: Steve Shaw
Date: 08 Aug 23 - 10:52 AM

There was that young couple in Hertfordshire who thought they'd won £182 million on the Euromillions not that long ago, but hadn't because their regular payment for tickets hadn't gone through due to insufficient funds in their account. I thing I'd probably categorise that as ever such a slight bummer...

Subject: RE: BS: How would you spend 10 million?
From: Stilly River Sage
Date: 08 Aug 23 - 11:01 AM

The state justified sanctioning a state lotto by saying the profits would go to education. I don't see any evidence of that ever happening. "A Winning Story For Texas" - our school taxes are the fastest rising of all of the taxes against our property, so I'm not convinced that this is being applied in the way they suggest. Or that enough other state funds are also directed to education to make a difference.

Subject: RE: BS: How would you spend 10 million?
From: Steve Shaw
Date: 08 Aug 23 - 11:32 AM

Our lottery is fairly transparent. Here are the latest annual numbers from the National Lottery website:

From total ticket sales of £8,190.3 million in the year ending 31 March 2023:

£1,877.3 million was generated for National Lottery projects
£4,694.0 million was awarded to players in prizes
£982.8 million went to the Government in Lottery Duty
£254.7 million was earned by retailers in commission

Awarding National Lottery funding:

Decisions on how and where funding is invested are made by 12 specialist organisations. These are chosen by Parliament for their knowledge and expertise to help ensure the money goes exactly where it’s needed.


In the year ending 31 March 2023, the funds were shared as follows:

Health, education, environment and charitable causes – 40%
Sport – 20%
Arts – 20%
Heritage – 20%

..................................................................

So, in ballpark figures, out of about £8.2 billion in ticket sales, £6.5 billion goes to prize winners and "good causes."

Subject: RE: BS: How would you spend 10 million?
From: Dave the Gnome
Date: 08 Aug 23 - 09:54 PM

There is a method of placing and offsetting bets that, by using free bets given as inducements, can result in modest profits. I know because I tried it and cleared about £200. I also know that after the free trial expires and the free bets dry up it becomes a diminishing return for increasing effort.

What it did prove is that, as someone said above, the bookies are the overall winners. The biggest returns by far were from offsetting the bets. Which is what the bookies do! We use to have a flutter on the Grand National but, due to the number of horses killed and injured, haven't done that for years.

Back to the lottery, apart from the foray into betting I described above, the only gambling I do is £10 every 4 weeks on the Euro Millions. Like Steve, I often get a small win but never enough to cover the loss but, I can afford it and enjoy the anticipation:-) I don't consider it losing but rather paying for something I enjoy for a short while and helping some good causes on the way.

Subject: RE: BS: How would you spend 10 million?
From: Ebbie
Date: 10 Aug 23 - 04:55 AM

Back to the original question: How would you spend 10 million? The thing that struck me first is that for most of my (long) life, the question was always "What would you do if you won a million dollars?"

Subject: RE: BS: How would you spend 10 million?
From: keberoxu
Date: 13 Aug 23 - 05:15 PM

... but what would be left of 10 million, after taxes??

Subject: RE: BS: How would you spend 10 million?
From: Monique
Date: 13 Aug 23 - 06:32 PM

Aren't the taxes deducted beforehand? Here they are. If you win 10 million, you get 10 million.
Some time ago, a whole family could win "together". You could say that you, your parents, your children and/or siblings called with the same name as you had chipped in to buy the ticket. Now we can't so we can't share equally though we can give some of it as presents but I have no real idea of what the tax-free percentage may be. The taxes will come with any estate you'll buy afterwards.

Subject: RE: BS: How would you spend 10 million?
From: Stilly River Sage
Date: 13 Aug 23 - 10:44 PM

The IRS has their hands out for winnings like this. You wouldn't get to take home the whole amount.

Subject: RE: BS: How would you spend 10 million?
From: Steve Shaw
Date: 14 Aug 23 - 03:01 AM

You would here.

In the UK you can give away whatever you want to your friends and rellies tax-free, with the proviso that you live seven years after giving it away. If you can't manage that, inheritance tax will be paid on gifts on a sliding scale, starting at 40% in year one, if you have enough dough to put you over the threshold. So tell 'em not to spend it all. Or you can indemnify them against an unexpected tax bill on your premature death by declaring that your gifts are "potentially-exempt transfers" which means that the tax burden will fall on your estate rather than on the gifts if you die within the seven years. Your spouse doesn't count. Luckily, you'll be rich enough to grab a bit of advice.

Subject: RE: BS: How would you spend 10 million?
From: Monique
Date: 14 Aug 23 - 03:59 AM

I've just checked that in France you can give away 2% to 2.5% of your whole estate tax-free as a "présent d'usage" (custom gift) for Christmas, a birthday, wedding, graduation... to people close to you. Now... how close is a friend for the tax service? Otherwise it's considered as a donation and the burden of the tax falls on the beneficiaries.

Subject: RE: BS: How would you spend 10 million?
From: Steve Shaw
Date: 14 Aug 23 - 04:17 AM

The rule here is that you can give away £3000 a year and unlimited small gifts of up to £250 tax-free. Above that, the gifts would be subject to inheritance tax should you die within that seven years - but only if the residue of your estate is more than the inheritance tax threshold.

Subject: RE: BS: How would you spend 10 million?
From: Steve Shaw
Date: 14 Aug 23 - 04:39 AM

The current UK IHT threshold is £325000. Your allowance is passed on to your spouse when you die. That sum includes the value of your house and other property, not just money, but there's an extra allowance if you give you home away to your children or grandchildren. In effect, for a married couple the threshold is £650000, plus that home giveaway allowance if it applies.

For anyone with socialist leanings there are some troubling issues here...

Subject: RE: BS: How would you spend 10 million?
From: Georgiansilver
Date: 14 Aug 23 - 08:38 AM

I would never take part in any lottery for fear that it might drastically change the person I am....... I am currently quite happy with me and have many friends. It could alter my relationships with good friends.........too risky.

Subject: RE: BS: How would you spend 10 million?
From: leeneia
Date: 14 Aug 23 - 11:52 PM

I don't know how I would spent $10,000,000, but the first thing I would do is divide into a small number of packets, say 3 or 4, and do different things with them. More packets than that and there's too much paperwork.

Subject: RE: BS: How would you spend 10 million?
From: Neil D
Date: 19 Aug 23 - 01:51 PM

A heated kidney shaped pool,
A microwave oven--don't watch the food cook,
A dyna-gym--I'll personally demonstrate it in the privacy of your own home,
A kingsize titanic unsinkable molly brown waterbed with polybendum,
A foolproof plan and an airtight alibi,
Real simulated indian jewelry,
A gucci shoetree,
A year's supply of antibiotics,
A personally autographed picture of randy mantooth
And bob dylan's new unlisted phone number,
A beautifully restored 3rd reich swizzle stick,
Rosemary's baby,
A dream date in kneepads with paul williams,
A new matador,
A new mastadon,
A maverick,
A mustang,
A montego,
A merc montclair,
A mark iv,
A meteor,
A mercedes,
An mg,
Or a malibu,
A mort moriarty,
A maserati,
A mac truck,
A mazda,
A new monza,
Or a moped,
A winnebago--hell, a herd of winnebago's we're giving 'em away,
Or how about a mcculloch chainsaw,
A las vegas wedding,
A mexican divorce,
A solid gold kama sutra coffee pot,
Or a baby's arm holding an apple?

Subject: RE: BS: How would you spend 10 million?
From: Stilly River Sage
Date: 19 Aug 23 - 02:00 PM

Use it to build a tall fence and strong gate around your existing house if you plan to stay there. The word gets out. Otherwise, move to a posh neighborhood where everyone else has more money than you and no one cares.

Subject: RE: BS: How would you spend 10 million?
From: Donuel
Date: 22 Aug 23 - 04:44 PM

I have 3 of Neil's favs. Beware of hidden costs.

Subject: RE: BS: How would you spend 10 million?
From: Stilly River Sage
Date: 23 Aug 23 - 12:57 AM

A maverick,
A mustang,
A meteor,
A mercedes,

I'll guess you have three of these four. (I have a friend who collects micro slices of meteorites.)

Solar power would have the house running in fine form this summer. Panels on the roof would be a good investment of a few thousands of that $10m.

Subject: RE: BS: How would you spend 10 million?
From: Bill D
Date: 25 Aug 23 - 09:54 AM

As Ebbie said, the question used to be about just $1 million.

I kind of like my late friend Tony's approach to the problem. When we asked him, he carefully pondered for a minute and then said, "Well, , I've always wanted a Mercedes, and that wouldn't make too big a dent in a million. Then I'd endow a poetry chair in the English department of my college, with special emphasis on Randall Jerrell. (his thesis topic).
   "Of course, there would be donations to a couple of deserving local charities.... oh, and I'd buy my wife, Karen , a new pair of jeans!"

There were stares, and then someone carefully asked the question, "Um... Tony... Why buy Karen a pair of jeans?"

"Because she needs them!"