Wednesday, February 28, 2007

Lottery winning done right

At last! A person won the lottery and, get this, actually did something normal with the money! I'm talking investments, college funds, paying off bills, starting a consulting company. Check out the CNNMoney story on Brad Duke, 34, who won $220 million (only got $85 million), and what he did w/ his lottery winnings:

  • $45 million: Safe, low-risk investments such as municipal bonds
  • $35 million: Aggressive investments like oil and gas and real estate
  • $1.3 million: A family foundation
  • $63,000: A trip to Tahiti with 17 friends
  • $125,000: Mortgage retired on his 1,400-square-foot house
  • $18,000: Student-loan repayment
  • $65,000: New bicycles, including a $12,000 BMC road bike
  • $14,500: A used black VW Jetta
  • $12,000: Annual gift to each family member
I'm just happy he didn't waste it all on a brand new trailer home ...

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