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Old 05-17-2013, 08:56 PM   #65
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Join Date: Jul 2001
Location: My house
Casino cash: $3058491
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So the gross cash will be about $377 million. You take out taxes and you're probably around $203 million.

I have a deal with a friend where we split any big winnings, so my take-home would be around $101.5 million. I then have a deal with karma where I would give one-third of it away, so my breakdown would be:

$67 million for me.
$17 million for my wife to give away however she seems fit.
I give away $17 million as follows:
$7-$10 million to family and friends
$500k-$1 million to an animal-related charity
The remainder would go into a scholarship fund for my high school. The scholarship would be for first-generation college students, and I would award one scholarship per year. It would be structured something along the lines of this:
$8,000 in freshman year
$16,000 in sophomore year (assuming they make grades)
$24,000 in junior year (assuming they make grades)
$24,000 in senior year (again, grades)
$15,000 upon graduation to take a trip anywhere they want, and it would be a surprise.

Now, my $67 million is more than I need, so I don't need to live just off the interest. So I would take out about $1 million per year for living expenses, which would end up being $46,000 per month after taxes. That's more than enough to live permanently on a cruise ship and travel around.
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