Yesterday I wrote a post about Department of Defense funding, but the written and saved part somehow disappeared. Was it because of a server error? I don't really like it when that happens.
So I'll turn to current topics. As of 3/29/2012 in the US, they say Megamillion lottery winning has risen to 500 million dollars. Wow. Impressed, I bought a ticket with $5 ($1 for a drawing so I got 5 drawings). Now I am eligible for winning. Hehe.
Let's say you won. What would you do with the half a billion dollars? It's a huge sum of money far beyond personal finance.
First things first. The money would need good management, investment and tax planning. I'll assemble a team for the money accordingly. But I wouldn't make it completely someone else's business. I'll keep an eye on it. Of course, with my wife.
Now, there will be some questions.
Do you keep your job?
I'll remain as a scientist, but my involvement will be changed. I would use 10% of the winning to set up a fund to promote scientific research, and take an administrative position. Even 3% annual return of 50 million dollars is 1.5 million dollars, and it can support a number of research projects.
The granting institution would fund research related to (i) cancer, (ii) cell cycle biology (for which I have been trained and working), and (iii) stroke-related brain damage.
Do you change your lifestyle? Do you buy anything?
Money can buy a lot of things. Sure, I would upgrade some of my stuff and my family's. But I can do it later and over time. I wouldn't hurry to buy a new car. But I would take more time traveling and going to dance events.
One thing I would not do is "spend, spend, spend". It's a fool's mantra.
I would be cautious about someone else's cause and religious charities. But for local dancers and other artists, I would set up a fund to support activities.
Basic financial education I got tells me that "I pay myself first (10%), then charitable giving (10%), and think about the rest". I'd try to follow it. I feel good about it.
That much money will force you to think differently. And that kind of thinking (more like daydreaming) is fun.
It's not only fun. It does tell you who you are and what you really want. I'll indulge this daydreaming some more, later in the day. Perhaps later on, the "purpose" of the money would come clear.
Writing a blog post about lottery does not increase the chance of winning. But it does increase fun and preparedness for the miraculously rare event.
