If I had $50 million (after tax) in lottery winnings or an unexpected windfall, these are a few of the things that I would do with the dough:
1) Donate $5 million to my church and $5 million to other charities. I would spend some serious effort deciding how to most effectively do this, because donating millions of dollars to a church can be very unhealthy for the church.
2) Give $10 million to my friends. This would be distributed according to my estimate of each friend’s net worth over the next 10 years. For instance, a friend who wants to pursue social work or has a child will receive more money than a friend who owns a house and will potentially be a millionaire within a decade.
3) Corrective eye surgery. Is it still called surgery? I want 20/20 vision for my wife and myself. I have a hard time imagining what it would be like to wake up and be able to clearly see everything around me before I even leave my bed.
4) Texas Rangers season tickets. Make that 8 of them, because I don’t want to pick just 2-3 friends to go with me on any given day.
5) Start a not-for-profit business. I have a ministry in mind, but it’s not something that I can reasonably expect to ever realize, unless I come across some serious cash.
6) Travel. First, a hiking trip to Hawaii.
7) Buy a house. I want a reasonable house that I will be able to afford the taxes on. For some reason, nobody ever thinks about that when they are suddenly wealthy.
8) Have children. It is no secret that I want children. It would be a much easier decision if I knew that I could afford to raise them comfortably.
This is just a short list of my priorities. I would also save and budget and be the most boring lottery winner or heir to ever see $50 million.
Vaya con Dios, amigos.