by JOHN BECK
Member since:
August 27, 2008

Winner ~ for Wednesday Writing Essential ~ WWE ~ Lottery

April 04, 2012 07:42 PM UTC
views: 0 | 10 people recommend this | comments: 39


I won 250 million dollars lump sum after tax.  Wow!

I gave 10% off the top to Doctors Without Borders.

I arranged a meeting with representatives of Lawrence University, Carroll College, St. Olaf College, Northwestern University, the Door County Land Trust and the Door County Memorial Hospital Foundation along with an accountant, my banker and an estate planner. I will set up 6 trusts of thirty million dollars each, with the earnings of each to go to one each of the six of us:  my 4 kids and Barbara and me.  The remainder will be used to fund a trust from which charitable contributions could be made.

Each “kid” and each of us will get a very generous amount from the trusts during our lifetimes. The first year should clear up any debts and buy some necessities and luxuries for all.  It will be up to each of the kids to provide for their own kids and grandkids from the distributions from their trusts. At death, each trust fund remains with the institutions.



Comments: 39

JustMe ~I'm happy to be~ Apr 4, 2012, 7:45pm UTC
YES

Smile.
JOHN BECK Apr 4, 2012, 8:07pm UTC
Thanks, Michelle. Of course I'll never win, but that was the challenge.
Pam Brittain Apr 4, 2012, 7:49pm UTC
Wow. You would do wonders. I hope you win the next one!!!!
JOHN BECK Apr 4, 2012, 8:08pm UTC
But if I don't buy tickets...
Thanks, Pam.
Pam Brittain Apr 4, 2012, 8:11pm UTC
... you'll be in the same spot as I.
Allen H. Apr 4, 2012, 8:25pm UTC
Never buy more than one line in a given lottery:
If it is God's will that you win, He only needs one.
Those who buy 30 lines have too much money,
and too little faith! If God doesn't want you to win,
extra tickets won't help, just waste your money.
JOHN BECK Apr 4, 2012, 8:38pm UTC
I don't think God wants me to buy a ticket.
Joann B. Apr 4, 2012, 9:00pm UTC
Two tickets per week (one for each drawing) pretty much covers my entertainment budget. But, on the bright side, where else could you buy that much adrenalin for $2?
JOHN BECK Apr 4, 2012, 9:14pm UTC
As long as one can stick to that budget, I agree.
Pam Brittain Apr 4, 2012, 9:16pm UTC
Joann, I think you're tempting John.
JOHN BECK Apr 4, 2012, 9:21pm UTC
But John doesn't think so.
Pam Brittain Apr 4, 2012, 9:22pm UTC
John, you would get along wonderfully with my husband.
JOHN BECK Apr 4, 2012, 9:42pm UTC
I hope that's a good thing.
Pam Brittain Apr 4, 2012, 9:59pm UTC
That's a good thing. Except I'm going to have to find time to leave my office and go buy my own.
JOHN BECK Apr 4, 2012, 10:09pm UTC
Good exercise.
Janet "Jax" B. Apr 4, 2012, 7:55pm UTC
And I'm very adoptable....or actually, my kids are. LOL
JOHN BECK Apr 4, 2012, 8:09pm UTC
I bet Pher and Angela could find something to do with the funds.
Thanks, Jax.
Janet "Jax" B. Apr 4, 2012, 8:28pm UTC
Of coarse....pay for college and the $30,000 Pher already has in student loan debt.
JOHN BECK Apr 4, 2012, 8:37pm UTC
My grandson is in about the same boat as Pher.
Janet "Jax" B. Apr 4, 2012, 9:09pm UTC
Pher has at least 2 more years also.....
JOHN BECK Apr 4, 2012, 9:16pm UTC
I feel the pain.
Allen H. Apr 4, 2012, 8:22pm UTC
Remember the Feds will take 30% in tax, John.
What a rip-off: In Australia you keep the lot.
JOHN BECK Apr 4, 2012, 8:36pm UTC
Yeah, I'm figuring after tax, but the funds from the trusts will also be taxable. More for congress to ... oh, I won't get into that.
Thanks, Allen.
Joann B. Apr 4, 2012, 9:02pm UTC
Uh, um, I hate to be pushy, but what about endowing a fund to support indigent artists and writers. OK, just writers.
JOHN BECK Apr 4, 2012, 9:12pm UTC
With a separate trust plus 2-3 million dollars per year to each, there should be plenty to fund worthwhile charities.
Indigent artists and writers. Or, just writers. Hmmmm.
Nanette Tron Apr 4, 2012, 11:02pm UTC
Wow, that is great Mr. John Beck, I pray that I win a lot of money and a job too!! That would be a wonderful life!
JOHN BECK Apr 4, 2012, 11:54pm UTC
It's all fiction in response to a prompt,, Nanette. Thanks.
Nanette Tron Apr 4, 2012, 11:04pm UTC
What about a fund to support me writing my song lyrics I have with Horizon Nashville Music that are said to be worth a lot of money if recorded? How about it?
JOHN BECK Apr 4, 2012, 11:55pm UTC
I'd have to win first, and without buying a ticket, that's not likely. :)
Patricia J. Apr 5, 2012, 8:09am UTC
I'll have to add some of your charities to my list, especially Doctors Without Borders. This was wonderful, John, you are as bad or good as me you would give most of it away and be sure your family is taken care of.
JOHN BECK Apr 5, 2012, 8:25am UTC
One of many potential downsides is that with each getting 2-3 million a year, some might be tempted to quit their jobs, change friends and lifestyles, and have all sorts of misery.
Thanks, Patricia.
Patricia J. Apr 7, 2012, 12:59pm UTC
That's very true, John. I would have to give up my Social Security but not my VA Disability Payment.
David W. Apr 5, 2012, 10:10am UTC
Such a good and organized man. I would turn off my phone, move, don't tell anybody where I am, except for the wife, daughter and grand kids. After that I would convert the cash to pennies and live buried in it like Scrooge Mc Duck. But then, we all have our lottery dreams.
Kingston Kaprinski Apr 5, 2012, 12:00pm UTC
Take all those pennies over to Ft. Knox, fill out a request chit asking for conversion into gold. Oops! We're off the gold standard. The only one left is to become a gold standard by giving.
JOHN BECK Apr 5, 2012, 12:15pm UTC
Thanks, David & Kingston.
Kingston Kaprinski Apr 5, 2012, 11:57am UTC
Wow! A good plan, for sure. But don't be completely ascetic. Enjoy a little, too.
JOHN BECK Apr 5, 2012, 12:16pm UTC
There's plenty in this plan to replace the deck, update vehicles, travel....

Thanks.
William Dotani Apr 8, 2012, 4:44am UTC
Sounds like a good plan until every charity under the Sun gets your phone number.
JOHN BECK Apr 8, 2012, 8:04am UTC
I would expect that. It seems like most of them already do!

Thanks, Bill.

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