I probably should go back to bed this morning, at least to get a couple hours more of sleep. I had my usual routine last night, yet still couldn't fall asleep until well after midnight. Not sure why. I think it was to give the poison the Wife had in my dinner, time to get to work. At least, that is my story. Only my iron-clad stomach fended off the worst of the poison, and the bit that actually got into my system, created some of the weirdest dreams I am able to recall. I'm talking so weird, yet so realistic, that when I kind of woke from one that had the Wife and I having this huge argument about something completely inane, I laid there thinking I should wake a her so I could apologize .... for what happened in a dream. So between the getting to sleep late, throw in a few times waking up from weird dreams, I could use a couple more hours of sleep. Don't know if I will or not though.
It is a beautiful morning in Arizona today. At least here in the Valley where I live. Thanks to the cooler bit of weather from the rains over the weekend, this morning was nice and cool as I ran the oldest Son to school. It is supposed to warm back up to the upper 90's within the next day or so, but Monsoon Season officially ends today, so cooler temps will be here soon. Last night was nice being able to drive with the truck window down, and the A/C off.
Speaking of last night, I ended up being a few minutes home later than usual, due to my missing my exit from the freeway. How did that happen? I was daydreaming. how many times does that happen to those of us that drive quite a bit? Or are distracted while talking to someone, that we miss a turn or something.
I recently have found myself with a pretty wasteful daydream that keeps popping into my thoughts. It is all about if I were to win one of the big dollar lotteries. Usually, near the end of my route (within a couple miles of my home) there is a billboard that displays the current amounts of the Mega Millions and Powerball jackpots. I only see this as I am headed home. But it seems each night, at some point prior to this, I have the thought of "what if" running through my head.
Of course, once I start, then I have to expand on each expenditure of money, but the basic breakdown of what I would do if I won...?
Let's say it was a sizable amount ... like $100,000,000. Since I don't know what percentage would be taken out by taxes, because I would take the cash-out option, not the annuity, let's call it 50%, so that leaves me with $50,000,000. Fifty million dollars.
For the Wife, I (probably should say the proverbial "we", but I have never discussed any of this with the Wife) would give 10% ($5,000,000) to the church. Down to $45,000,000.
Set up Trust Accounts for each of the kids starting at $1,000,000 each. This is where I start expanding on my though process. I don't just want each Trust to just hold money until they reach a certain age, but obviously be more like a growing fund they can "live" off of, but yet, limit the monthly amount that they would have to probably still work some sort of job, until a certain age (say 30's?) where they can change how they want the Trust to work. Hopefully have kids of their own to think of by then. I still have much more to think about how this all would work, and talk to some financial dude about what I can do with a Trust. Down another $4,000,000 leaving $41,000,000.
Shell out $1,000,000 to each sibling on each side, not in a Trust, that they can do with however they want. They won't be getting anything else from us in regards to money. That's another $7,000,000 gone. For our parents, we would want them to live comfortably as possible financially, so let's throw them $1,000,000 to each side. Minus another $2,000,000. That leaves us with $32,000,000 at this point, and have not done anything for ourselves.
Here is where I really start losing myself. I start with, how much should we put back for retirement/investing etc, and how much for "play" money and basic living expenses, especially considering there would be some changes in our lifestyle? I mean, I know I would want a nicer, newer vehicle than the 2000 Ford Windstar I have now, and the Wife would want something better than the 2006(or 2007?) Chrysler T&C. We would want a bigger house, but stay in the same school district(s) as much as possible. There would be some newer stuff like furniture, computers, clothes, and who knows what else. Let's say $1,000,000 for all that. Sound right? Throw $1,000,000 in the checking account for mundane monthly bills .... down to $30,000,000. I would guess that we would take $25,000,000 of that and set aside for retirement/investing and the remaining $5,000,000 be set aside in some account for who knows what: vacationing somewhere ... miscellaneous expenses for whatever.
Each time some of that money is spent, aside from the 10% to the church, I will break down in my head. How do I want to get the most out of spending that amount, in that way. The Trust one keeps popping back into my head, because I want to make it something the kids will have for quite a few years, and eventually, as it grows more than they take out, to maybe turn into something they can use as we did with the lottery winnings. I always add more details the more I think about it, and hope, that if I ever do win the lottery, I will remember all this.
I know, I know. There is a better chance of me being struck by lightning, on four separate occasions, than of ever winning a lottery like the Mega Millions, or the Powerball. Of course, that chance drops even lower if I don't buy the tickets (which I don't).
You can't win if you don't play.