Sure the upcoming 212 million Mega Millions jackpot is lunch money for the Sultan of Brunei, but it is still fun for a regular Joe like me to dream about having my mitts around a winning ticket. I would buy a nice house with some acreage so that the Frau could have the horses and stable she has always wanted.
Certainly, we would love to buy a home without having to fill out any paperwork for a Tampa, FL mortgage broker and undergo the scrutiny that mortgage seekers get today.
I wouldn’t buy too extravagant a home. I would replace our clunkers with newer cars, although I’m not sure I’d fill the garage with exotic cars in Leno-like fashion.
Even with 212 million minus the taxman’s bite, I would not want to own assets that depreciate as fast as exotic cars or Berkshire Hathaway shares do. Especially now, it makes sense for people to enjoy luxury items without owning them.
Why tie up money in a boat that you will only get out on the water a few times a year? Think boat sharing.
Why own a Ferrari F430 that you might only drive once a month? Membership in a luxury car sharing club gives you the chance to experience driving a wider variety of cars.
It seems to me that renting a Ferrari for a day or joining a car sharing club like DFW Elite Car Club.com or Club Ferdinand — for fans of Porsches–would be more sensible. To find a car sharing club near you visit http://www.exoticcarclubs.com, an excellent online directory to exotic car sharing clubs.
Better still, it frees you of the hassles of maintenance and finding secure car storage.
Just as soon as my numbers come in, those are the directions I’ll go. What would you do with the loot from a winning Mega Millions ticket from the March 3rd drawing?
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Well, the net check of the March 3rd winning will be about $103,350,000, and a bit less than that in states that charge state tax in addition to federal tax.
When I win the drawing on March 3rd, i’m going to invest about $80 million, so that within 10 or 15 years I’ll have a billion. With the remaining $23,350,000, i’ll set aside $10 million to give to family and friends, and live my own life with the remaining $13,350,000.
I said “When I win the drawing on March 3rd” because I know i’m going to win it.