While I and several high school friends were down in New Orleans for my bachelor's party, I bought a PowerBall lottery ticket and talked with Ben about what I might do if I won. The prize was for $32 million, or $17 million if you chose to receive it all in one lump sum (my choice).
After taxes, that would be roughly an $8 million prize.
I put a lot of stock in thought exercises like this, as they accomplish a lot of different things. For me, thinking about what I would do with a lot of money helps me keep moving toward where I want to be.
I was a little surprised that when Ben asked me what I would do with it, I didn't really know. I've thought more about it, and I can now answer the question. If I received $8 million tomorrow, this is what I would do.
1. Put $1 million in the bank. $500,000, invested today and receiving reasonable interest for the next 20 years, should be enough to cover the education of 2-3 kids down the line. $500,000 is a "rainy day" fund, in case something happens to me or Lori.
2. Donate $1 million to West End Community Church. It started as simply a search for an officiant for our wedding in June, and ended with finding a wonderful spiritual place that, for once, I can't wait to get to on a Sunday morning. As many know, I leave Knoxville (on weekends I visit Lori) early Sunday morning to get to WECC for 10:30's service. Carter Crenshaw, the pastor there, is such a nice person and a solid community leader. I wish I had spent every Sunday morning in undergrad here...but better late than never, as they say. $1 million would improve their financial position considerably moving into their brand-new facility.
3. Give $1 million to Lori for whatever. As I've started to learn, girls are EXPENSIVE.
4. Put $2 million apiece into my two startups, Mariner Records and The iTest. I have been itching to get back into the studio, both for my own music as well as in a producer's role for a band I sign to my label. Genre's not that important, as I like a lot of different kinds of music...but I'd probably prefer a rock band. If not a rock band, then a jazz group or a pop group of some sort. Since recording can be done inexpensively, I'd use the money on promotion. Man, that would be fun! I'd also get back in the studio myself and record a dark concept album I've been toying with for years.
$2 million into the iTest would be immediately put to use hiring more PR services and the best marketing firm that money can buy. I would also hire a full-time employee to help manage the day-to-day operations of the contest.
5. I'd use the last million to buy several gifts for people who have hung around all this time to witness both my failures and successes. I'd do something nice for my parents, and it wouldn't take me long to do some things for my friends as well. There's a lot of people to whom I owe a lot.
Oh well. Guess I'll have to try to do this the old fashioned way. $8 million, maybe we'll meet someday.
Contents of "Bradley's iMix," now uploaded to iTunes:
Cities of Foam - "Out of Reach"
Snow Patrol - "Tiny Little Fractures"
The Donots - "We Got The Noise"
Jamiroquai - "Canned Heat"
Fusebox - "Light the Fire"
Snow Patrol - "Run"
Switchfoot - "Dare You to Move"
Seal - "Love's Divine"
Travis - "Turn"
Jamie Cullum - "All at Sea"
The Shins - "Gone for Good"
Ben Jelen - "Come On"
Sting w/ Twista - "Stolen Car (Take Me Dancing)"
Van Halen - "Right Now"
Eminem - "Till I Collapse"