Power Ball jackpot is now worth winning

[lonewolf]

Wow, that struck a nerve. I'd love to have the time to restore an old's F85, my first car.

Actually, my first car, acquired in 1946, was a genuine WWII 1942 Ford jeep, complete with gas cans and shovel. My younger brother, 82, has had possession of it since 1949.

My first real car was a 1949 Ford Club coupe, flathead V8. Circa 1970, my dad noticed an identical car had been parked at the door stoop, so close you could not fully open the screen door, of a small house in Littlefield, TX for several years. On inquiry, the resident of the house said the car had belonged to his deceased father who parked it there to repair a radiator leak. by the time the radiator was repaired they had another car and did not need the Ford.
I gave him $50 for the car, aired up the right rear tire, tow barred it 300 miles to Fort Worth without incident, changed the oil, installed new battery and started it. Then I took it apart and restored it mechanically and cosmetically. My son drove it to OSU his freshman year before upgrading to an Austin-Healy that he restored and traded for newish Trans-AM.
I brought the Ford along when I move to OKC mid-1970s. I kinda started collecting Thunderbirds of every body style. I had about eight cars and was running out of parking space. I drove the coupe to work occasionally. Guy at the office, apparently with a nostalgia quirk, made me an offer I could not refuse. I sold it.

[user4]

I appreciate the gesture, user4, and am sure jazz and I would have a grand old time ... ..
Oh yeah. I have been driving Lincolns for 40 years but I would find and restore to better than new, a 1977 basket-handle T-bird, black with maroon interior, the best car I ever owned

Wow, that struck a nerve. I'd love to have the time to restore an old's F85, my first car.

[tandfman]

This Powerball story takes the cake. Woman says she spent all her money on Powerball tickets and now has no more money. So what does she do? She puts up a GoFundMe page and asks people to contribute to the fund to reimburse her for her losses.

http://news.yahoo.com/powerball-reimbursement-fund-page-created-235504618.html

You can't make this stuff up. (But maybe somebody did, because the GoFundMe page has apparently now been taken down.)

[tandfman]

I would establish some long range family trusts and there are several other people I would give the $10K annually allowed by the IRS.

The IRS's annual allowance is now up to $14K.

[Atticus]

You can help sponsor post-grads without winning the lottery. Just contribute to the USATF Foundation.

Yes, USATF's "Adopt an Athlete" could be tooled to be more 'personal' (I know very little about it, maybe that's already part of it).

[tandfman]

I also love the thought of 'sponsoring' some promising post-grads.
Having just spent some time with C Taylor and seeing what an awesome person he is, although he doesn't need money, I bet there are many like him that could use a nice stipend for training. If you have the talent to be an Olympian, I think you should pursue that, but many can't.

You can help sponsor post-grads without winning the lottery. Just contribute to the USATF Foundation. Helping to support emerging elite post-grads is one of the things they do.

http://usatffoundation.org/programs/elite-athlete-development/

[Atticus]

This is what I'm talking about. Of course I would do the same for LSU, and I presume Atticus would do the same for Stanford, BillVol for Tennessee, dukehjsteve for Duke, etc.

Doesn't that go without saying! :-)
I also love the thought of 'sponsoring' some promising post-grads.
Having just spent some time with C Taylor and seeing what an awesome person he is, although he doesn't need money, I bet there are many like him that could use a nice stipend for training. If you have the talent to be an Olympian, I think you should pursue that, but many can't.

[jazzcyclist]

And, Oklahoma State would have a new dedicated track stadium worthy of their new competiton facilities...and a scholarsip program designed to attract national class track athletes.. all anonymously, of course.

This is what I'm talking about. Of course I would do the same for LSU, and I presume Atticus would do the same for Stanford, BillVol for Tennessee, dukehjsteve for Duke, etc.

[lonewolf]

Almost all of my time constraints have nothing to do with money. But now that you mention it, Id probably send you and Lonewolf tickets to the WC. .

I appreciate the gesture, user4, and am sure jazz and I would have a grand old time but first I would have to check Charlie Lonewolf's soccer schedule.

I would not drastically change my life style if I won a mega-lottery. I would keep it as anonymous as possible as long as possible. I am perfectly comfortable in my modest condominium where I can just shut the door and leave when I like for as long as I like.
I lived in big houses (too much of the time alone) with the pool, tennis court and four car garage. Did not need it then, sure don't need it now.
My three kids and three grown grandkids are already launched on successful careers. I would establish some long range family trusts and there are several other people I would give the $10K annually allowed by the IRS. I have a few selected charities I would generously bless anonymously. And, Oklahoma State would have a new dedicated track stadium worthy of their new competiton facilities...and a scholarsip program designed to attract national class track athletes.. all anonymously, of course.

Oh yeah. I have been driving Lincolns for 40 years but I would find and restore to better than new, a 1977 basket-handle T-bird, black with maroon interior, the best car I ever owned

[jazzcyclist]

I dont work for money, I work because it is what I was made to do. Finding your talents and using them to be what you were meant to and providing an example to family, friends, neighbors and beyond is the ideal life.

Providing a life of leisure for your children is a curse disguised as a gift. The human mind us not designed for that.

You actually are living a far happier life, a full and purposeful life as the example that you are. As far back as I can remember those men that could fix things were highly respected and still are. Maybe now after many years of learning so many skills well you could handle mega millions now. Leaving immense wealth to offspring is a tricky business. The shapping of a child's character, habits, work ethic are far more critical than money and 10times more essential if you do leave them significant money.

I think you're confusing me with some of the other posters. I agree with you about leaving kids a bunch or money and the value of a good work ethic. However, I presume that all of us, including you, first started posting on this board because of our passion for track and field, and that you enjoy attending a good meet every now and then. Phil Knight also shares our passion for track and field, but because of his wealth, he can pursue his passion much more vigorously than we can. Do you not get my point?

[user4]

I'm not sure what you mean by that, but there are many ways in which money buys you time.

Another way money would buy me time is by not having to do jobs for my parents from time to time to save them the hassle and expense of having to hire someone. When you acquire as many tools (eg. carpentry, mechanic, electrical, plumbing, machine, etc.) as I have over the years, people are always asking you to do stuff for them. If I had more money, the only time involved would be the time it took to find and hire a competent professional to do these jobs, and I already know some folks in these trades.

I dont work for money, I work because it is what I was made to do. Finding your talents and using them to be what you were meant to and providing an example to family, friends, neighbors and beyond is the ideal life.

Providing a life of leisure for your children is a curse disguised as a gift. The human mind us not designed for that.

You actually are living a far happier life, a full and purposeful life as the example that you are. As far back as I can remember those men that could fix things were highly respected and still are. Maybe now after many years of learning so many skills well you could handle mega millions now. Leaving immense wealth to offspring is a tricky business. The shapping of a child's character, habits, work ethic are far more critical than money and 10times more essential if you do leave them significant money.

[jazzcyclist]

If I won 500 million I'd feel obligated to help large swaths of my family and to help others as well.

But you can do a lot to help people short of giving them millions of dollars. Isn't there an old parable about giving a man a fish dinner versus showing him how to fish?

[booond]

Would you feel obligated to leave money to your family?

If I won 500 million I'd feel obligated to help large swaths of my family and to help others as well.

[Atticus]

Would you feel obligated to leave money to your family?

Yes, but not just the whole sum. I'd apportion the interest in trust funds, but keep most of the principle in secure investments for at least 50 years. Eventually inflation would devalue that, but not before I had given several generations a good start.

[tandfman]

I saw a piece on the news claiming that 70% of all big lottery winners wind up broke.

Here are some stories of lottery winners for whom things did not work out well:

http://www.nytimes.com/interactive/2016/01/14/us/lottery-winners-whose-lives-were-ruined.html