I want to win the lottery. Sure, there’s like a 80% chance I’d be broke in 3 years, but it’s a risk I’d be willing to take.
I have it all planned out. It’s on a spreadsheet even. Everything from taxes, contributions, disbursements to family members, even the catering budget on my Win Party.
$400,000,000 is up for grabs in the Powerball drawing this week. The net lump payout is projected to be $230 million.
In my generous mind, I’d set aside 20% of charity. But half of that would be to set up our own Charitable Trust. The remaining balance is taxable (as far as I know – I’m not a tax expert). The top federal tax tier is currently 39.6%.
So here are the numbers:
| Net: | $ 230,000,000.00 | |
| Charity | $ 46,000,000.00 | 20.00% |
| Taxes | $ 72,864,000.00 | 36.90% |
| Cash Value | $ 111,136,000.00 |
At the end of the day I have $111 million to play with. Started with $400 million, left with $111 million.
I’m okay with that.
Tell me what you think:
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