01 September 2009

Plan in Place

Inspired by the big lotto game on Friday and conversation at Book Club, last night over dinner R and I crafted our own plans for when we win the big lotto prize. Here's mine:

  • I would not publicize my win. In fact, you may not even know that I've won.
  • For the immediate future I would not quit my job, although I may go to part time, so I could continue to hang out with my co-workers.
  • I would find a small, successful bakery that I could buy. I would spend chunks of time apprenticing, so I could learn more than I currently know.
  • I would organize a trip for my family and a few friends. We'd go somewhere warm and beautiful. First class everything.
  • I'd retain the best financial advisor. And call up an old attorney friend and put him on retainer.
  • I'd hire a personal trainer who could help me run faster, build more muscle and of course swim better. Hello, triathlon!
  • I would find ways to spend "apprentice" time with people I admire, either for the kind of person they are or because of the kind of work they do. Aveda colorist David Adams is one. Designer Isaac Mizrahi is another. I'm still coming up with the rest of the list, but the key is that I'd be learning a ton from amazingly talented people.
  • I would not sell my house. I would, however, re-do the kitchen and bathroom. I'd also have the yard completely re-landscaped and the driveway done. I'd look into purchasing a place in New York.
  • Since I only have a one car garage, I don't even think I'd buy a new car at this point. I like my car. Plus, a new car so soon after an anonymous lottery winner from Grand Rapids is announced might be a dead giveaway.
  • I would also set up some sort of charitable foundation with the help of my financial advisor and my attorney.

I guess I might have to actually start playing these big lotto games if I'm going to be able to put this plan into action. I'll be on the look out for the next big jackpot! Do you have a plan for when you win big? It's good to be prepared!

3 comments:

Anonymous said...

I don't play either. Have I ever bought a ticket? huh. Nope. But, I have bought scratch-offs.

If I won big money I'd by a house, a sailboat, invest it, establish a non-profit medical/design organization and volunteer at it.

CurlyGirl said...

College fund, quit my job to become a master gardener, personal trainer also, travel, hook my parents up w/ a second home, and start a scholarship for students that want to attend my school.

David Maxam said...

I did this little mental exercise with my own dream lifestyle a while ago. It's always surprising how inexpensive dreams really are when you break it down.

Guesstimate Cost of each point:
*Not publicizing it: Free.
*Going part time: Half your salary(ish)
*Part time job at bakery.. pays you, might help make up for loss of half your salary?
*Organizing trip... maybe they'd chip in. Hardest part is organizing it. Doesn't have to be 1st class to be a fun adventure. Get group rate.. Few thousand dollars?
*Financial Advisor: Best to have one already. Even small money deserves to be handled right, that way it'll turn into big money. Cost: not much, probably earned and then some by improved returns on investments.
*Designer Apprentice time: No amount of money is likely to buy you access to these people, but sincere interest might. Do some research, might get email advice at least. Alternatively, Find local talent that would be overjoyed to have an devout apprentice and they'd have far more time to actually teach you something.
*Work on the house: Doable yourself in small chunks. Have a 'Help Starfish Landscape Party.' Total cost maybe 15 grand if ya hire out kitchen/bath remodel.
*Place in New York: Find an inexpensive hotel or friends place to crash. Visit it as often as you would visit the NY Apt. Do all the same cool stuff you would do if ya had a pad. If your in the Big Apple, I hope your doing more than staring at your apt walls. $3000 per year for the NY experience, mostly travel.
*Car... already have it.
*Foundation: Might be able to get the same satisfaction volunteering your time on boards. Consider it research and training for when the big score comes in and you can fully fund your foundation.

Total Cost to experience your Lotto Lifestyle: Maybe $25K ?

Cost required to get started towards experiencing most of these things today.. Almost nothing.

Just my .02