What I'd do with a $20 million lottery win

Note: I will be starting college again March 1st.  I will be attending Western Governors University.  I originally wrote this for a scholarship from Yakezie.com to help pay for college. but was about 3 hours late turning it in.  I think I did a pretty good job so I figured I’d post it here.

I believe that if I would to win a $20 million dollar lottery, while portions of my life would change, overall, my life wouldn’t change very much.  Upon winning the lottery, I would immediately call my dear sweet wife.  She is a stay at home mom to our three beautiful children.  My wife and I would go out to dinner so we could discuss our financial plan.  The next day, I would write a check and pay off the mortgage.    I would also write a check to my Church for 10% of the winnings.  Of course, the government would also take 30-40% in taxes.  This would leave me with about $10 million dollars. I would take the money and divide it up into various bank accounts so that no one bank was above the FDIC coverage limit (I have had several banks that I have dealt with fail).   I would tell my family, but I don’t think I would tell many, if any, other people.  There just isn’t a smart reason to tell non-family members.  They would either think I’m bragging, or want to borrow money from me.   I do think I would take a weeks’ vacation from work and go on a nice trip with my family.  When we got back (or perhaps before we go), I would setup trust accounts for each of my 3 children for college, fully funding, with some extra, their anticipated college expenses.  I would then purchase some real estate and rent out the properties, to help bring long term income into my family.  I would talk to my parents and my wife’s parents about paying off their home mortgages, thus bringing some financial peace to them.  I would keep $5 million dollars in good growth mutual funds to allow this money to keep growing.  By having this money grow at 6%-10% annually, I would bring in at least $300,000.00 annually that we can live on without touching the remaining $5 million.

Continue reading

It Is Going To Be A Rocky Road

It Is Going To Be A Rocky Road
by Chuck Baldwin
September 22, 2009

Let’s face it: most Americans live in a world of false security. This is somewhat understandable, given the fact that the majority of the U.S. population was born after 1945. Few remember the dangers and hardships of World War II; fewer still remember the Great Depression. Few Americans know what it’s like to not have some sort of “supercenter” nearby with shelves stocked with every kind of food imaginable, twenty-four hours a day. Few know what life was like before there were restaurants of all sizes and types on virtually every street corner in America. And only a handful remembers when most roads were unpaved, or when sports were truly a pastime and not a megabuck obsession.

Continue reading

McCarran Airport BS

Yesterday, McCarran Internal Airport announced that they would be increasing their fees for parking and ground transportation for, among other reasons “because of the county’s budget deficit“.  This is complete BS.  Per page 6 of the 2007 Financial Report of McCarran Airport/Clark County Department of Aviation “The Department comprises a single enterprise fund of Clark County (the County), and operates as a separate self sufficient enterprise of the County (emphasis added).  Continued reading of the 2007 Financial Report tells us that all money used for the operation of the airport is gathered through the fees the airport charges and all revenue gathered is used for the airport.  If the airport wants to raise fees, fine, but don’t BS us by telling us that it is because of budget cuts.