Mega Super Lotto Time!

335 million

The estimated jackpot for tomorrow night’s Mega Millions Lotto is 355 Million Dollars.

26 Annual payments of $13,653,846.

Assume a 40% tax rate, that’s $8,192,308 per year after taxes.

$22,444 per day.

$62 each and every minute.

Our ING savings account gets 4.5% APR. Interest on just the first year’s payout would be $368,653.86

If you invested the entire amount at an APR of 7%, by the time you got the last payout, the compounded total would be $604,977,188.41

So … what would you do with that kind of money?

44 thoughts on “Mega Super Lotto Time!

  1. Jeremy

    Mike, if I had that kind of money I would buy you an iPhone. And pay for the service for a whole year. My treat. Cuz I’m rich.

  2. Karen

    Oh to dream….Let’s see, pay off all of the debt we have including the house, not tithe it to our church because it has already been said from the pulpit that the lottery is from the devil and they won’t take the money, find another organiztion to tithe to, give a lot away, pay off our parents debts, set up music scholarships at APU, the list could go on and on and on.

  3. michael lee Post author

    Here’s the first thing I would do: pay my brother $500k to go collect the winnings for me, so that I can stay anonymous. That seems like it would be worth half a mil.

    Next, I endow the “Michael Lee Professorship of Music Technology”, whose only responsibility would be to sit in the studio and dork around with Logic. That way, I get to keep my office, but don’t have to do any of that pesky teaching crap.

    I’d love to buy a house near APU, build out a high-end studio in it, and they do a 1-year program for graduates of APU, where you put a couple engineer, some musicians, songwriters, singers together in the house, they live for free for a year, and make a record. Kind of like a post-graduate artist certificate program for commercial music.

    Setup a church-planting fund with a 2-year grant to pastors. The grant is for 80k a year. The first year, it pays the pastor 40k, and 40k go to non-salary expenses. The second year, it pays the pastor 20k, and 60k go to non-salary expenses. Then, they’re on their own. An 800k tithe on the 8m per year would let you do that with 50 new churches each year. Even if only half of them survive, that’d be pretty hip.

    With that kind of money, I could get somebody who knows what they’re doing to design this blog.

    And on, and on, and on.

  4. Zack

    Peter Gibbons: What would you do if you had a million dollars?

    Lawrence: I’ll tell you what I’d do, man, two chicks at the same time, man.

    Peter Gibbons: That’s it? If you had a million dollars, you’d do two chicks at the same time?

    Lawrence: Damn straight. I always wanted to do that, man. And I think if I had a million dollars I could hook that up, cause chicks dig a dude with money.

    Peter Gibbons: Well, not all chicks.

    Lawrence: Well the kind of chicks that’d double up on a dude like me do.

    Peter Gibbons: Good point.

    Lawrence: Well what about you now? what would you do?

    Peter Gibbons: Besides two chicks at the same time?

    Lawrence: Well yeah.

    Peter Gibbons: Nothing.

    Lawrence: Nothing, huh?

    Peter Gibbons: I’d relax, I would sit on my ass all day, I would do nothing.

    Lawrence: Well you don’t need a million dollars to do nothing, man. Just take a look at my cousin, he’s broke, don’t do shit.

  5. sc0tlas

    I’d use it to pay off my APU loans, fix the cupholder in my car, and buy a Double-Double. The rest will probably disappear in taxes…

    And if Michael wins, I’ll enter his studio program.

  6. leoskeo

    I would give a ton to the Bayside Family of churches for church planting, set up a foundation to help kids go to college, pay for my house and for it to be remodeled, hire a personal trainer so my butt does not get any bigger, do nice stuff from my family, get a fishing/ski boat and by a vacation home where I could go and other pastors and their families could go for free, work at my church for free and hire someone to run my business so I could stay doing ministry. I would get my daughter awesome didigtal cameras with all the accessories and my son an xbox 360. I would build a clinic in North India and Africa and I would fix up my 55 ford and my 71 bronco and my wife get whatever she wants cause she is the queen.

  7. Nick

    I’m really overwhelmed even thinking about that amount of money. Why couldn’t you just say a million dollars of something? I can’t ever begin to plan out that amount…but here it goes.

    I would buy my parents a new house, pay for niece’s and nephew’s college, make sure all my friends are set for life, and build a multi-purpose center at my church with my name on a plaque right above the front door. And there would be so much left!!

    “Lieutenant Dan got me invested in some kind of fruit company. So then I got a call from him, saying we don’t have to worry about money no more. And I said, that’s good! One less thing.”

    I guess all of you could divvy up the rest.

  8. Sharolyn

    Nick, that is so weird. I was thinking of Forrest opening his letter at the end of the movie and giving $ to Bubba’s “Mama”.

    Not that this is exciting or clever, but I would do a kitchen remodel and travel. Maybe with that kind of money, I’d just get a whole new kitchen, huh? :)

  9. Morphea

    First thing I’d do straight away would be to buy all seven seasons of “Buffy the Vampire Slayer” in the ultra-super DVD set. Then I’d buy the distributing rights for “Night Watch”, “Day Watch” and “Dusk Watch” from Fox Searchlight and do right by those crazy Russians for a change. And MAKE them not film the third flick in America, for god’s sake.

    Then I’d set my family and friends up for life, buy Ramon all the art school he can stand, set up a ranch for unwanted animals somewhere and build a modern, eco-friendly house in rural Central Washington (with mulching toilets, solar power and gray-water irrigation to start) with an art studio, a recording studio and personal theater. Then I’d doof around doing music, sipping tea, watching movies, hanging laundry in the sun and having all my friends over for retreats for the rest of my life.

    Oh, and we’d tour the world, natch.

    Cerise

  10. michael lee Post author

    Here’s the thing – I bet that even if you won, you still couldn’t hang out with rich people. I’m guessing lotto winners are the ultimate ghetto trash in rich people world. I think the hierarchy is something like:

    Old Money brought from Europe in the 1800′s
    Old Money made in America
    New Money made in finance
    New Money made in film
    New Money made in technology
    New Money made in other kinds of media
    Trustifarians
    Lotto Winners
    Britney

    I’m guessing you couldn’t even get a table at Aqua, no matter how much you tipped the funny penguin man at the door.

  11. Morphea

    So who wants to hang out with rich people? is my question. Michael, you have a thing for European gentry?

    You’ve read too many Jane Austen novels, clearly. [mad giggle]

    Cerise

  12. Jonathan

    I would take one lump sum which is something like $11,000,000.00. That makes intrest at 3% about $5,000,000 a year. You can do the rest of the math but thats a lot of money. And 3% isn’t much so if you find a place that has higher intrest rates more money. my roommate figured that his savings is about 6% so $10,000,000 a year. I could live with that.

  13. aly hawkins

    My lotto fantasy isn’t too much different from Cerise’s, except instead of a ranch for unwanted animals, my eco-friendly house would be a mod monastery where people come to find God and create while caring for disabled people, who also find God and create as they can. I’d have a little sunny attic room where I write for 4 hours a day (only 4 hours…that’s all I’m asking!) and the rest of the time I hang out with God’s children and grow malbec on the back forty. At harvest time, all of us stomp grapes in the old way and break bread (that we baked) to celebrate and remember.

  14. corey

    1. work to make sure no more mommies die of leukemia
    2. build a lightsaber
    3. have some people whacked
    4. get reeeeeaaly fat.
    5. watch it ruin my life.
    6. buy more wishes. wait- what?

  15. Morphea

    [twiddling fingers] Awesome ideas, Al. And you didn’t specify – you will have that house in Central Washington, won’t you? Yessss.

    Cerise

  16. Chad

    I’ve always wanted to learn people’s stories, and drop money anonymously into their lives in places where money actually makes all the difference.

    A car.
    A house.
    A hospital bill.
    Rehab.
    A vacation for burned out pastors.
    Queen for a day (month) for young moms.

    I think it would be fun to orchestrate Extreme Makeovers, but no gets to watch but you and your co-conspirators.

    Oh, and I’d buy myself an M5. Altruism likes to go fast.

  17. Karen

    See, that’s the problem…you actually have to play to win….
    I love hearing what people would do with all of that.

  18. michael lee Post author

    [quote comment="57207"]Great idea Professor Higgins.
    [/quote]

    Wait, who? Is there another professor hanging around here? I’ll so totally fist-fight them for academic preeminence if so.

    Super Fight Fight Professor Boxing, it’s On!

  19. Gretchen

    I’m with Chad. After all the “buy myself and family things” phase, I’ve always thought how awesome it would be to have enough money to just get to do incredibly generous and awesome things for people. I love the fact that Oprah opened a School for Girls in South Africa, things like that. And “smaller” things that make a huge difference in someones life today, like Chad was saying. That’d be so cool.

  20. Sharolyn

    I could write a post about Oprah in South Africa. It just IS Jesus, for many deep-rooted reasons (whether you call it that or not).

    I have much admiration for this guy (http://en.wikipedia.org/wiki/Warren_Buffett). His granddaughter had her college paid for, and was grateful for it. She said something like, “I don’t have the worry of college loans like a lot of my friends.” With her grandfather being the second-richest person in American, she is a nanny in San Francisco. If you look up “well-adjusted”, it should have a picture of Warren Buffet’s granddaughter.

    Also, when he was on Charlie Rose, Warren Buffet was asked, “So there’s not going to be a Buffet Library?” “No,” he laughed, “I like the Omaha Public Library just fine.”

    My Bible study this week compared Judas and Delilah, both caught in the lure of money. What is the Buffets’ secret to being wealthy without being greedy?

    Or is that a million-dollar question? (Sorry, the puns were on another post.)

    :)

  21. Zack

    [quote comment="57291"]-And perhaps I’d get some of that lovely Costco jewelry that Zack introduced us to…

    [link][/quote]

    Sharolyn, those earrings aren’t that great. I bought them for my cat, and they’re really not all that stunning. I was expecting something a little more SHAZAM! for $92,000.

  22. corey

    Mike, Chad-
    Listen, since I feel bad that neither of you won, rehearsal is on me this week. We’ll be reeharsing at Mama Bello’s for happy hour- Lincoln and Harbor in Anaheim. 2$ beers, and by “rehearsal is on me”, I mean “you can each have a beer and a slice of free pizza”.

  23. Paul

    Looks like two people (both on the east coast) won the big prize. Just think — if you buy one ticket with the same numbers twice a week, you’ll win the big prize sometime within the next 1.7 million years!

    But seriously, it’s always interesting to ask “What would I be doing differently if money were no object?”

    Oh oh, that sounds like the start of an Amway (oops, I mean Quixtar) meeting!

  24. michael lee Post author

    Gretchen and I were discussing the merits of having “numbers” that you play, like important birthdays, addresses, etc.

    I think it’s the worst idea ever. I play the lotto maybe 3 or 4 times a year, and I’m fully aware that what I’m buying is a day or two of playing the “what-if” game. But, if I had numbers, and they ever won on a week that I hadn’t played them, I would never, ever be able to let that go.

  25. Chad

    Oh no, mine was St. Johns, Canada with just me, Rosy, Space Dog, and a defective backline keyboard stand.

  26. Destiny

    This is a very common mistake, for people to start dreaming, “What would I do with the winnings” when you are bypassing a very important point in dreaming: actual winning of the lottery, finding out, signing a check, ect…of course, it’s a more spread out journey, people actually make lists of 10000000 many things they would do with the money…But we are forgetting the law of having one goal, one single dream, rather than dusting away all that creative “desire energy” into a million little outlets! Have you ever seen a dentist, who also has a sign on his door, that he ALSO does car repairs, ALSO cuts hair, ALSO writes books, and by the way, is a great actor in his spare time? Whilst I want to talk more about this topic on my blog, I want you to think about it! Only those succeed who make plans, not dream too many dreams! (But you CAN dream one dream, who knows…it just may come true!)

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