Monday, March 28, 2011

What would you do? Ka-ching!

I'm doing a trillion things this week so let's go interactive. I ask, you answer. Take a second and think it over... what would you do (WWYD)?

Saturday night's MegaMillions Jackpot was $312 million... with a cash value of $198 million. One hundred and ninety-eight million dollars. That's more than pocket change people. So I ask you, if you won that much money - what would you do with it? What's the very first thing you would do? Who would you tell? How much would you put in savings? And wouldn't you donate for the preservation of BougieLand [blinkety-blinkety smile]?


Jubilance said...

I wrote about this the last time the Mega Millions got huge (

Short answer: pay off my debts, buy some property, share w/family, start a charity, invest & trick off a little bit. I wouldnt tell anybody but my lawyer & my momma until the check cleared, & even then I wouldnt tell many folks.

I def got $5 to help keep BougieLand going! LOL j/k

Jazzy jazz said...

Well first I would pay my tithes and then hire a financial planner and a lawyer. Then I would pay off my grandmas house , buy my mom a new house , buy me a condo or 2 , pay off mortgages for some of the family. I would buy me a new car , pay the federal govt back for my education. Then I would set up a college fund for my niece , and my younger cousins. I would put the majority in a fund so that I would be living off of the interest each year and not touching that money. I would set up a scholarship fund for college. And then I would have a separate account called my medical school fund. I wouldnt tell many people - because folks would come out of no where. Oh and none of these moves would be made until I have sat on the money for a few months and prayed about the best way to use the money. I forgot that I would be sending the grandparents to Hawaii so they can relax without having to feed their 40 yr old daughter and her kids. Le sigh but I digress

MonP said...

Ok, so I've thought about this many, many, many times.

1) I'd get a good lawyer and a financial manager and then claim the prize with my middle and last name so people don't immediately recognize the winner as me.

2a) I'd tell my immediate family and pay off all their debts. I'd also set up an annuity so that they would have an "allowance" and what they do with that is up to them. If they want to help someone out, it should be out of that money and not come back to me asking for money.

2b) I'd also set up some college funds for nieces, nephews, and extended family. I won't gift cash but I will gift education.

3) I'd pay my tithes and spread it over 4 churches.

4) I'd start a local private school for underprivileged kids focusing on math and science science. Every kid will play a sport but it won't be the traditional four. They'll learn to play golf and tennis to increase their networking opportunities once they enter the business world. They would also have etiquette training to learn how to treat others and expect how to be treated. I think it's also important for kids to know that you can be successful with being an athlete or entertainer so the school would have weekly speakers with everyday jobs that discuss their road to success.

That's my short version.

mojitochica said...

I would collect anonymously and hire an attorney to collect the winnings on my behalf. I would not quit my job for a while. Instead I would get pregnant and quit after maternity leave is up. During those 9 months I would hire a financial planner and an estate attorney to setup a will, trust, etc and we think of an exit strategy for my husband to quit his job without arousing suspicion.

Just_A_Thought1218 said...

First things first, I'd put a ton into savings. You have to pay yourself first, and I'd want something stashed away because Just_A_Thought is going to have a little bit to ball outta control with. I'm talking month long european vacation, getting this diamond necklace I've had my eye one, and getting my shoe game proper like! LOL, and, after that $500k is gone, it's time to go back to work, set up college funds for my nieces and nephews, pay off debt, and do random acts of kindness for the fam. If I could, n'aan one of them kneegrows would know I won, but since they'd find out anyway, I would give them a drop (and I DO mean a drop to tide them over. After the vacation of course.

Bethany Showell said...

I would hire a financial planner that specialized in lump sum payments. You always hear about lottery winners who mess up their lives by not handling the win correctly from the start. So depending on what the planner said, I'd get out of debt, put some in savings, investments, etc. I'd also be interested in buying into some sort of franchise.

Kimberly Foster said...

What responsible readers you have. No voted to trick off in the poll.

Earthangel172 said...

Hire a lawyer and establish a foundation (tax shelter), living will and revocable trust.
Donate 10% to the Voice of the Martyrs or another Christian non-profit.
Tell my mom she can retire but my stepdad can't...LOL
Pay off my debts, my parents and grandparents' debt.
Build a bigger house for my grandparents.
College fund for my daughter and my nephews.
Build a nice home on some land for myself. No more cookie cutter homes in the burbs.
Travel for an entire year.
Establish my own business and work for myself.
Live off the interest of my earnings.

David Parrish, Jr.(Inkognegro) said...

Aside from all the Normal Get out of debt hook up mom and the family upgrade my lifestyle stuff...

I would develop a niche media company devoted to Developing artists (print/film/music) to own and produce content that actually has a soul.

blackprofessor said...

I wish!!! I would try to claim it anonymously so no one would know who won - I want to be incognegro!

First things first, my debts are wiped out!
I set up a diverse portfolio with investments in real estate, the stock market, bonds, etc., and a massive savings account, whereas the annual interest would be akin to a yearly salary.
I clear up the debt for close friends and family members, after some of them agree to a series of therapeutic counseling.
I would actually keep my job, because I love what I do, but would work on building my secondary and tertiary hustles.
I would give to my favorite charities and churches.
I splurge on traveling and shopping to my little heart's content (at least for a year or so).
Once all of that is taken care of, I would give the rest away to complete strangers, schools, organizations or charities. I would figure out a systematic way to give the money away and do just that.

Earthangel172 said...

*live off the interest of my winnings - typo

L.P. said...

First thing? Buy my folks whatever their hearts desire.
Then set up a way to cover remaining college fees for my younger sisters... I managed to graduate college with no debt thanks to my folks so I'm passing the buck along to the sisters.
Set a decent but small amount in an aggressive investment type account... the interest will come in handy.
Buy the properties I have been eying.
Invest in my business (es).
Go on a dream vacation.

The End.

L.P. said...

after some of them agree to a series of therapeutic counseling.

I am so slain! Lol!

SingLikeSassy said...

I would get a financial advisor and develop a strategy for investing the cash so that it will generate enough interest for me to live off of nicely if I decide to leave the workforce, then accept the cash using my middle name and Mr. SLS's last name since together those names are so generic nobody would ever figure out it was me. I would put my house on the market (it was a rental until last month so no one would think anything about me listing it for sale) and sit tight for a few months while I let myself absorb that I had enough cash to do whateverinthehellIwanttodo.

I would make my parents debt free and give them $1 million.

I would establish a scholarship at my alma mater for students pursuing my line of work.

I'd stay lowkey though I would wear better quality better tailored clothes and I might splurge and get me some Beyonce lacefronts. LOL!

I would hire a personal trainer to flog me til this body was like it should be.

IF I left the workforce, I'd go to grad school and study something like literature and pop culture.

I'd keep traveling.

MelaninEnriched said...

First, I'd pay off my house a few small debts that I have. Then, I'd do like Dave Chappelle did when he got Oprah pregnant (you gotta watch it) and chuck my deuces to my job. I'd break my parents off and a little to my family....a ONE- TIME gift. Whatever I give them initially, they better make it work. Don't keep asking because that's how Hammer became broke and the answer will be no. Then, I'd chuck my deuces to the U.S....instead of where in the world is Carmen San Diego, it'd be where in the world is MelaninEnriched. When I came back, IF I came back (probably not), I'd open a business and invest the rest.

JJai said...

Hire a Christian Financial Advisor and tithe! And take advice from you fine folks and claim it anonymously.

taut_7 said...

i'd probably only tell my immediate family at first. they'd each get somewhere between 1mil to 5 mil a piece. i'd buy a house. buy everything i've ever wanted. give 10% to church. invest and save 50%. i'd probably donate 15-20% of my money to good causes.

Laughing808 said...

I would contact an attorney first, then get a financial advisor, then take a two week long trip. I'd then pay off my debt, help family out, buy a new house and car and then decide which organizations I'd donate to. Saving and investing would be last because those would take more time and decision since the largest chunk would go to those categories.

Mykeia said...

That is a lot of money.
I would not tell anyone except for my spouse.
I would get out of debt and donate a lot of it to a few of my favorite charities.
Travel, travel, travel.
Save of of course.
Hire a personal trainer along with a nutritionist.
Get my mom back in school.
And I would travel, did I mention that before.
I would also do an extensive search on my family history.
I would quit my job, and I would give them two weeks notice.
Send a few of my cousins to school.
And travel.

Mykeia said...


MariSol said...

You mean after I finished hallelujah dancing around my house?!
50% straight into a low risk fund that allowed me to live off the interest.
Immediate family only gets lump sum each with the provision that they can't come back for more.
Then I pay off my debt, but a car not requiring hundreds of dollars of maintenance regularly.
I grab a passport and my sister (maybe a few special gentlemen friends) and head to the airport.
See everybody in six months - I'm off to see the world. The sunny half of it anyway :)

Natasha Hunter said...

I think the 1st thing I'd do is go on a vacation, like before I even claimed the money. Nothing real long, just like 2 weeks. Something by the water and get massages and facials as often as my body could handle. My thinking is that once people found out, the stress would be through the roof. Of course I'd pay off my bills (which really, if I won that much money, would be so miniscule) and take care of the parents & sibs and extended fam. After that invest and chill. I'd continue to stay in the military too, but I think there's a cap on how much you can win and stay in the service. I'd only be doing it until one day an Admiral or somebody would talk sideways to me and I'd fuss 'em out (just because every enlisted person has thought about doing it at least once), then I'd make it rain on em. Gotta do something ignant ;)

I wonder though, what would be enough to people? I mean if I pay off your house, would that be enough? If I gave you a full ride to a school of your choice, would that be enough? It's not that I'd mind helping out, I'm just a little scared to see the depths of greed some friends/fam might sink to.

thinklikeRiley said...

O - I - C! I da only ninja who want Chele to throw a bomb-ass BougieLand party? Ya know she have us bathing in champagne and ish, gettin' serenaded by superstars and eatin' lobster for breakfast - I want alladat. Fly ev'body in, party like a rock star for a day or two and bounce.
Then I get around to responsible shiggity. A hunnerd milly?! And ain't NONE of yall thinkin' about shakin ya azz for a minute. Whateva. Riley party first, pay bills next.

MichelleG said...

Seems like many posters already know the plan:

*Hire financial advisor/lawyer to claim on my behalf (or use alias)
*Set up fund/foundation to funnel my church tithe (can't give all at once), set up scholarships at college/HS and organization that is dear to me
*Purchase my new condo here and beachfront property
*Hook my girlfriends up via a Oprah style birthday bash so they wouldn't know what was coming at all! (Its my birthday - you get a car and you get a car :))
*Send notification of accounts opened for family members after its all set up. Deposits for homes only (no blinging nonsense) including trust fund for education(if I tell any of them ahead of time it would be on twitter in 30 seconds). No school no $$
*Enjoy reading Bougieland daily as I run my foundation from the beach using wi-fi :)

Mr. Skyywalker said...

I have to admit that I kinda agree. $198 million means you can get a little crazy for a second. And I can only imagine what a $1MM bougie blow-out would be like. EPIC!
As long as everybody remembers. what happens at Bougie weekend, stays in Bougie weekend!

Pure Choco said...

I'm putting half in the bank, setting up a trust for selected friends and family, paying off cars, houses, loans and credits cards and then I'm cutting a fool for six months. Don't hate me when I get real flossy in the comments section ;-)

Jesse said...

So after I buy oceanfront condos in Maui and Marina del Rey and park my new Porsches in the garages?
Then I'll do the responsible thing. Financial planner, family trust, charitable trust and then I'll start figuring out which causes I want to support.

GrownAzzMan said...

No, you are not the only one...

Jazzy jazz said...

Oh and I forgot that everyone-mommy , pastor, first lady etc- is signing a confidentiality agreement. I wouldnt tell anyone just how much I have - it's none of your business. See I figure if everyone knows you are rich then you will never get peace. I still want to be a semi-normal person. And once I give you this blessing - you must still work. Oh and Riley we gettin buck wild with a cool 5 mil.

GrownAzzMan said...

Hello, Ferrari? The black one ANT the red one please...LOL Already blessed to be debt free. College fund for Nearly GrownAzzDaughter. Plenty for church and charity. Bucket list on speed dial.

Jasmin said...

Like most people, I'd get a financial planner to claim the money on my behalf, or use my middle name (Michele) and a family maiden name (Williams) to claim it. I'd give my parents enough money to quit working (I'm liking the 1-time gift rule many of you have invoked), set up education funds for my 4 younger sisters and favorite cousin (a full ride + a stipend as long as you maintain a 3.3 or higher), and pay for my grandmother and aunt to move out by my parents. I'd pay off my school debt, pay off the hubby's school debt, and buy a house/condo. After a long vacation somewhere in South America, I'd put my money in the bank and take some to fund full scholarships for Black students at my high school/college alma mater. Maybe something special for students pursuing foreign language degrees...

JaymeC said...

Mr. Carter and I are blessed to be debt-free (we worked hard to get here) so after tithing, setting up trusts for the kids... America is about to get a WHOLE lot of free counseling and mental health support. Maybe I'll finally write the book Michele has been bugging me about. I feel a girls weekend (okay week, maybe two) at the spa, in Bali would be in order.

William Martin said...

After I pay off the school loan jackals?! Dr. Martin is opening a first class oncology center - free of charge for patients that cannot afford treatment. And two months out of every year, vacation. No cell phones, no TV, no internet. Beach, scotch, grilled meats, exotic fruits. Yes sir.

William Martin said...

Had. NOT. Thought. Of. This!!
Adding to list.

Just_A_Thought1218 said...

I already know the depths of greed that my family would sink to, so I am fully prepared to be hated by all of them. Shoot, half of them think I"m mean and bougie anyway, so this will only further reinforce their negative ideas about me. But, I won't care because I'll be living my life like it's golden.

Untouched Jewel said...

If I won that much money, I would tithe (indefinitely!), because God loves a cheerful giver! After tithing, I would go to the South and purchase several acres of land, build my house on at least 2-3 acres of the land from the ground up, my front and back yards would be about 1 1/2-2 acres large, have a 7 car garage, 8 bedrooms, 7 bathrooms, indoor pool, state of the art stainless steel kitchen with built in subzero fridge and freezer, walk-in closet the size of a two bedroom apartment, and the list goes on for how I want my house to look. Anywho, I would pay off any and all debt I have incurred, have houses built for my mom, dad and both grandmothers, have an expensive car, family trip truck, my everyday grind car, and an Coleman RV with furniture and flat screens in it (retail cost: 200k--seen it on Celebrity Apprentice recently). Then, after college funds, my own IRA account for retirement, I would also try to write, travel, open a non profit organization, and own some properties that can keep some steady income.

David Chase said...

Bless all of your noble hearts - I quit. Like calling in on my way home from the Lottery Office quit. Like forget you ever knew my name quit. Financial management is what I do, I already know which funds to set up which countries to let some of those dollars aggregate in. I know how much to give which family member. Once I get that all set up, I'm scooping up girlie and heading out. Wine in Tuscany, Shrimp in Australia, Olives in Greece, Silk in India - I have a list. When we get back, I'll be setting up financial management services for the people who really need it - the middle class and those aspiring to be. That is all.

Cha Keziah said...

My immediate action? Tithe to God and to myself. Then pay back the money for this law degree that is currently kicking my butt and set up funds for my sister, cousins, and (if I have them then) children for their educations. I don't think I'd tell them it was set up, though, because I want them to work at school like they have scholarships to earn...I would put enough aside in my wedding fund (assuming I wasn't marred at the time) so I could have the tasteful celebratory extravaganza I want without having to stress, cut corners, or have anyone tell me I can't because of money.

I'd take the advice of everyone here and get a financial planner to stock away and play with a good 25-50% and make me some money so I can live off the interest and not have to touch the initial (following the tithing, etc). I would buy one home at home and one in Jamaica (for the extended family and for us to have somewhere to stay when we returned to the home country).

Finally, in "giving back mode" I would establish three scholarship funds, one at my Spelman, one with the non-profit I used to work for (working with inner-city kids), and one at my current law school. The one at Spelman would be for international students and the one at my law school would be for black students or international students.

I would keep working because I worked too damn long and hard for this here degree not to use it - but I would have my dream job of providing legal representation, advocacy, and education for "inner city" children.

And like everyone said, I would try to keep it as private as possible - these fools out here would not be knowing just how blessed BeautyNobility is.

FreeBlackMan said...

Ha! Say it with me now "Ain't no party like a BnB party cuz a BnB party don't stop!"

Stank_0 said...

With $198M, after grad school loans I bank 197.9M. At that point, probably buy some homes in a few places (Denver, Dubai, South Pacific, etc.). Then for about 2 years, set it up so I'm living off the interest. I'll throw a retirement party and then figure out what I really want to do with my life.

I'd do the warm weather jawn but I'd probably be a winter bum, going from the Rockies to the Andes to the Alps to the Himalayas. Then if I'm feelin myself, a stint in Siberia. Probably improve my Russian and write the next great Russian novel while reeking of vodka. Davai!

As I age, probably set up a trust fund that my children cannot access (unless for education) until they are 35, at least.

Grace said...

Save half, give 1/3 away and travel, travel, travel.

Steve said...

Two words: Real Estate.

Deb B said...

I would have to lump sum "don't come back" to my fam and friends too. AND add a "If you contest this, you get nothing" clause. Some of these fools will spend $10MM in a month and then come back talking about "What had happened was" - no sir. Let me pay back the loans for all the education I have yet to put to good use. Then I'd like to open up my own combination spa/boutique/restaurant/gym - basically a one-stop shop for women to get pampered, fed and clothed from head to toe.

Troy said...

And let's invite The Obamas, Warren Buffet, Bill Gates and Jay-Z just because we can!

SingLikeSassy said...

So whatchu sayin' is, I need to call YOU when I win, amiright?

SingLikeSassy said...

Yeah, let's pop bottles and dance on some tables up in da club!

Leo the Yardie Chick said...

Some sort of investment. Oh, and keeping my mouth shut about winning anything. That would be between my Mum (who'd be getting a cut) and me.

Just_A_Thought1218 said...

So this is what you do professionally? Do you manage funds for companies/investment groups or do you take personal clients?

Penny said...

Hi my Spelman Sister-

Like you, I am sending them a very big check!!!

diamond life said...

Move to a better neighborhood, finish school without loans, put the rest in savings until I figure it out.

David Chase said...

I don't manage funds, I research funds and other solutions for companies (and individuals) who want to build and keep wealth, then I make recommendations. Only a few personal clients on the side right now.

David Chase said...

BougieLand discount for you.

rozb said...

Easy. I would show up for work like a normal day, go to a meeting, and at the first sign of management shiggity, I would jump up out of my seat, holler out "You are a DUMBASS!" like I had Tourette's, give them a peace sign, and finally say "I am OUTTA here, Bitchezzzz!"

Been one of those Mondays.

Page Bartlett said...

Girl! I was just thinking - Sure, I'd go back to work but let one person cut their eyes at me the wrong way. I'm kicking over chairs and screaming (a la Dave Chapelle) "I'm rich beyotch!" Might moonwalk backwards up outta there.

GammasWorld said...

I been thinking about this all day like I really got some decisions to make LOL. I might, *MIGHT* call the place that pays me and tell 'em I won't be back. But I ain't going in to tell 'em ... THROUGH.WITH.YOU. Then it looks like I need to get in touch with David to help me with some financial planning LOL. Not sure where I'm building my pretty modest house (the bigger the house the more to clean and I ain't paying no live in staff) uh but I am going to hire Candice Olson to hook it up. I'm setting my granddaughter's college fund up for sure and if she doesn't go then she ain't getting nothing til she turns damn near 40 ... there will be no playing with Gamma's gift like you done something. I'd buy my daughter a more modest home than mine, get her a new car, pay her debts, make a substantial contribution to her IRA then tell her don't be calling me talking about "mama ... can I have". Nieces and nephews colleges are set and a little trust after graduation if a GPA is maintained. One time gift to all 4 brothers -- even the 1 that disowned us when he married "up" and of course make sure mama is set. Now I have always and forever wanted my own bookstore, and sense I wouldn't care if it made money or not, I'd do it anyway just because I've always wanted to. Whatever city I end up in will get the nicest Battered Women's Shelter with state of the art security, a place that looks like a home not an institution, therapists on staff to work with the women of course, but I'd want a child psychologist to work with the kids. That's some rough stuff for kids to get over. I'd get all that in motion as soon as I returned from my trip of course.

GammasWorld said...

I spelled "since" wrong ... just wanted y'all to know I know LOL

kjnetic aka Peter Parker said...

i put "get rid of debt" as my first thing...but my absolute first thing would be to but honestly, after paying off the debt of my nuclear family and tithe, i'd probably set up a venture capital business, to invest in all-black businesses dedidicated to setting up shop in majority black neighborhoods, and making sure they only deal w/ black supplier of their product (where feasible). rest of the money would go to pay off other family debt, and as much as possible into forex and i can have enough capital to buy the knicks/msg/msg network from the dolans.

Brneyed1 said...

As soon as I stop dancin' footloose crazy and catch my breath, I'm finding a lawyer to claim the funds on my behalf and an financial planner to set up various accounts for me: set moms and step-dad up for life; one-time, set amount gifts for fam; education funds for those under college age; scholarship fund for young girls in my old 'hood that don't see a way out; etc.

After that, quit the Paycheck Plantation. Stop straightening my hair and only buy clothes that say "comfy" and not "corporate". Give away all of my current possessions. Then make sure the passport is current, pack a backpack, and stop on every continent for a few weeks each until I get bored with it. Then think about where and how I wanna live the rest of my life.

Brneyed1 said...

I feel you on this one...

J. Jackson said...

First, I wouldn't want my name to be associated with the money. Meaning that I would keep my name annonomous. Second, I will pay off my student loan debt (around 70k). After that meet with a financial planner to make sure I don't lose the money and it grows, along with helping my parents out.

I would probably quit my job, and open a computer security firm (that is my passion) and make sure to take at least 3 trips per year.

Alvin Milton said...

I'd travel around the world... no luggage style. When I come back to the US, I'd buy a crib in NYC, Miami, and LA to split time residentially. Get my fam living with no concerns. Get a lawyer, accountant, and body guard. Rest goes to savings.. no investing in these corrupt companies, unless investing means building some after school situations for the kids to keep they mind productive. peace

rochee said...

I am simple.

Give my parents 5 million.
Give my Aunt 1 million.
Pay off my debt.
Give each of my friends $25,000.00
Buy an amazing beach house.
Buy an amazing loft in a big city.
Start a charitable foundation.
Start a chain of "fancy" Jamaican restaurants.
Make a few films/documentaries.
Write a few books.
Travel the world.

Nadette said...

1. Pay off my Sallie Mae loans in full. (but keep my government loans for the interest write off)
2. Take care of my mom in every way.
3. Buy several properties--domestic and abroad.
4. Enroll in culinary school
5. Go on one hell of a shopping spree
6. Invest, Invest, Invest.
7. Establish some sort of scholarship program
8. Did I mention the shopping spree?

Nate_Wesley said...

*liked* because SallieMae NEEDS to be told where to go

MonP said...

Ok, so I've thought about this many, many, many times.

1) I'd get a good lawyer and a financial manager and then claim the prize with my middle and last name (assuming my lawyer cannot collect the prize on my behalf) so people don't immediately recognize the winner as me.

2a) I'd tell my immediate family and pay off all their debts. I'd also set up an annuity so that they would have an "allowance" and what they do with that is up to them. If they want to help someone out, it should be out of that money and not come back to me asking for money.

2b) I'd also set up some college funds for nieces, nephews, and extended family. I won't gift cash but I will gift education.

3) I'd pay my tithes and spread it over 4 churches.

4) I'd start a local private school for underprivileged kids focusing on math and science science. Every kid will play a sport but it won't be the traditional four. They'll learn to play golf and tennis to increase their networking opportunities once they enter the business world. They would also have etiquette training to learn how to treat others and expect how to be treated. I think it's also important for kids to know that you can be successful with being an athlete or entertainer so the school would have weekly speakers with everyday jobs that discuss their road to success.

That's my short version.


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