If I Had $330,000,000

In the wake of the fourth largest Mass Millions jackpot in history; I wanted to take a moment to dream. It’s the feeling anyone has when they line up to purchase a ticket- what would you do with all that money? It’s a discussion Krissy, Mallory, and I have all the time. As interns we would go downstairs to the City Mart (aka Dr. Lee’s) on Friday’s and buy candy and lottery tickets. We call it Lottery Friday. Now that the three of us are full-time, we still go downstairs- but less often.

After many discussions and daydreams I wanted to pen down my rough plan of action if I was to win the lottery. You never know if I’ll have to actually put it to use- at least I would be prepared.
Let’s say I win tonight’s Mega Millions Jackpot. I would probably take the lump sump option, CNN and many others say it’s the smarter choice. The cash option for tonight’s jackpot is about 194.4 million after taxes, not too shabby.

Step 1: Go underground. Like my old roommate Phil, I would fall off the radar. I don’t plan on telling anyone I know that I just won a lot of cash- those kind of moves seem to just attract more problems. The day I wake up and find out I won the lottery, I would make sure the ticket is secure. I would sign the back, take some photocopies, and lock it in a secured deposit box. I wouldn’t want to take any chances. I would also immediately secure a week or two off of work and clear my schedule. Why? Because I’m going to need the time to work on step 2.
Step 2: Assemble my rapid response team. I’m going to need some people to help me to plan my next steps. I would get a lawyer (especially one that deals in estates), a certified financial planner, and an accountant. They would help me plan out how I receive the money, where I should put the money, and how I should spend the money.

Step 3: Claim my cash money. Once I have a plan in place I would then approach the lottery and start the process of claiming the prize. I would totally do it anonymously- again as much as people would want their faces plastered on the newspaper and television- I would prefer to stay out of the limelight. So if I win chances are you’d just see my lawyer accepting a huge check, sorry media no scene here.

Step 4: Allocate my money. If I win the lottery I would still work at my current job (at least for a little bit)- I like it a lot. I’d like to avoid a drastic life change that causes me to lose control of who I am. But that doesn’t mean I’m not going to have a little fun. Here’s what I would do with my money:

• Save most of it (find a way to have it work for me- living off interest is a wonderful thing)
• Figure out some sort of amount to supplement my annual income (I’m lucky I have no debt to pay off)
• Buy my parents a house (it’s a requirement- you gotta buy your parents something), they really want a place to live in near DC so I’d find them a nice place in Loudoun county perhaps
• Buy Diana a nice midtown place to live, pay off her debts
• Pay for Kim’s education
• Pay for Danny’s education, give him my old car
• Find a nice townhouse in Arlington that’s close to Clarendon- I’m still not living in DC
• Eventually buy a new car (I think I’d hold on to my current ride for awhile, again I don’t want to make too many sudden changes)
• Eventually get spend a little on some new toys (Big screen tv, a new wardrobe again maybe not immediately but after sometime)
• Donate (FSC, CHS, charity- I’ll sit down and make a plan to give back)
• Go on a cruise (I’ve always wanted to do that)
• Start actually tackling my life to-do list (I have it written out already, but now I’ll have resources to get some of the pesky goals out of the way)
• Go back to school (I’m going to do it anywho but now I can go somewhere nice and nearby while I work… Georgetown anyone?)
• Share (I’ll have a plan to share with my other friends and family) – and yes that includes Krissy and Mallory
• Eventually start a business? (I was working out today and thought Patrick and I could start a production company, or maybe I could start some sort of media business)
• Season tickets- they are the coolest thing and I would definitely get some. If I’m stilling living in DC then all the local teams- plus I would love to have tickets at Fenway Park.

That’s all I can think of now. Overall I would save some, spend some, give some. And I would probably keep it on the D/L as much as I could. I just think of all the riches to rags stories I hear about other lottery winners and I have come to the conclusion that I just want to play it smart and safe.

Ok time to go out. If I go underground suddenly at least you know why.

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