
Jimmy says, "my real plan was to win it when it got up to like $300 million
and then spread Bojangles franchises to the North and West." For those who might read this and aren't from the south, please go look up Bojangles.
At any rate, he calls winning the lottery the "Ultimate Life Plan" and though he is joking , I started to think about what I would do with the money if I won say a $100 million powerball.
First off the money is offered either annually for like 25 years or in a lump sum which comes out to around $48 million cash, if I did the North Carolina Tax "math" correctly.
Without a doubt, the opening order
of business would be to take 10 percent of that ($4.8 million) and give it to my home church, Evergreen United Holy Church in tiny Salemburg, NC.Let's see that leaves $43.2 million that I would have at my disposal. I'd take $25 million of that and put away in an high interest account or some form of CD. That way I could basically just live off the interest of it each year, securing my financial freedom and probably that of my children as well.
Already "down" to $18.2 million and I haven't given my family anything, bought a house or car or done any philanthropy. So time to knock that out.
I'd give my parents $2 million, my brother and sister-in-law $1 million and everyone I consider "close" I'd tell them to give me two non-mortgage/car bills and I'd pay them for 2 years. For example, Jimmy would be on the "list" and I'd pay say his power and cable bill for two years.
It might not seem like a lot but that would be right at $7,000 per person and let's say there are 30 people I'd do that for. With the money I'd given my parents, my brother and sister-in-law and relatives and friends, I come having spent an addition $3.2 million. Bringing the total down to $15.2 million.
I'd give at the highest level to the Black Student Movement,
Carolina Athletic Association and Ram's Club at UNC and the Athletic Department at North Carolina Central University(say $1 million a piece) making sure that the groups that helped me become who I am were able to continue to function for many many years.That $4 million brings us down to $11.2 million. Being me, I'm starting to get a little nervous like I'm running out of money -- not good.
So I'd take $3 million more of it and put in the high interest account or CD, taking me to $28 million in savings and $8.2 million left in hard money.
Next I'd hit up some philanthropy giving $200,000 to different organizations that focused on issues like sickle-cell, AIDS and Diabetes research, gang-violence and after-school programming in so-called "urban" settings. That's another $1 million gone right there bringing the total down to $7.2 million.
Again I'd see that I only had $7.2 million left and I'd put $2 million more in the bank bringing my total in savings to $30 million.
"Only" $5.2 million left -- what am I gonna do? Buy stuff.
Volvo S60 ($35,000) Cadillac Escalade ($50,000),Mercedes CL 600 ($119,000), a nice home in the mountains of North Carolina ($200,000), a Condo in Miami ($600,000) and a Penthouse in New York ($ 1 million). That comes out to $2.4 million.
With "just" $2.8 million left I'd buy a minority share in Jordan Brand and call it a day.
That sounds like a pretty good "Ultimate Life Plan"

























