Chapter 1
A Dream Comes True Ever since the lottery became a reality in my state, well over twenty years ago, I have forked over a few bucks each week to partake in the quest for riches. I believe Jess, a friend from years back, put it best when he described the lottery as not being a waste of money, because it gave people the opportunity to dream. That is exactly what I had done for a long time. I would also rationalize the weekly expenditure as a contribution to someone else‟s dream. My tickets, when scanned, read out “Not A Winner” so often, I don‟t know why I kept playing. Deep down inside, however, I always knew [really, I did] that one day I would win the big one. That day occurred, no matter how unbelievable it seemed to be. The drawing was on the third of July, but I didn‟t find out until July 4th. Needless to say, it changed my life forever. Independence Day has always been special to me, but now it will have even more meaning. If it wasn‟t a miracle, it was the next best thing. In the
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past, I had never won more than eight bucks on any one ticket, but I would soon be receiving a check [after taxes] for thirty-two million dollars plus a bunch of change. The IRS was surely pleased, since they got their “fair” share of the action off the top and the Kansas State Treasury Department had to be happy that a resident won, because they would also receive a nice piece of the proceeds before I received my check. But I was still on cloud nine and tried not to dwell on how much of the winnings went for taxes. Maybe it will go to some worthwhile project in the area . . . yeah, right.
Before I go much further, I should introduce myself. My name is Will Jacobs and I live on the southern edge of Wichita, Kansas. The timing of my incredible stroke of luck could not have been better. The drawing of my numbers came several weeks after school had been dismissed for the summer. I have been a high school history teacher for the past eleven years. At the end of the school year, I signed a letter of intent to return, but now, even though I love what I do, I may have to make different plans. Or will I? The answer to that question is pending.
After all the hoopla associated with the check presentation and the press conference at the state‟s lottery headquarters, I quietly drove back home, nervously, I might add. I kept thinking that some catastrophe would occur along the way, but thankfully nothing bad happened. I should have had someone else drive the five-hour round trip with me, for I could hardly keep my mind on the business at hand, which
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was driving. No one I had called on such short notice could accompany me. Upon entering my apartment that evening, I noticed my answering machine was blinking. It indicated there were twenty-one phone messages waiting for me. I realized this was only the beginning of an onslaught of things to come, which would break up my peace and quiet for some time in the future. I reluctantly hit the “play� button and commenced the soon tedious task of listening to who had called. Some of the callers I actually knew. A few of my friends and family offered their congratulations on my winning the lottery. Most of the calls were requests for my time, as well as for my money. A reporter with the paper and individuals with radio and television stations wanted to interview me. Three investment firms wanted me to open accounts with them and there was an assortment of charities letting me know of their needs. After the ordeal concluded, I turned the machine off. I would seriously have to consider changing my number to a private listing. I had previously contacted my older my sister, Michele, who worked for a local bank in an upper management position. She had been one of the callers and had given me the name and number of a financial advisor. She had spoken to another manager at the bank and they both suggested the gentleman mentioned on the message. The next morning I picked up the phone and called Luke, the consultant. I made arrangements to meet with him at the bank after lunch. On the phone, he had come across as being very knowledgeable in the field of finance and investing, which was to be expected, I suppose. Prior to my appointment, I went to one of my Excel files on the computer and printed off the list of all my creditors with the balances due. Luke also suggested I make out a will, so I completed a
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preliminary worksheet for one. I made a list of the few assets I previously had with specific allocations I might wish to make to particular individuals or charities, etc. Luke was much younger than I had imagined, but within minutes of talking with him, I felt comfortable in following any of his advice. It was a long afternoon at the bank. I grew very tired of listening to the ins and outs of all the types of investment strategies. The possibilities seemed endless. “Luke why don‟t you set me up in whatever you feel comfortable with, as if the money was your own.” “Good. That makes it a fairly simple matter then, since I won‟t have to explain every option I know of. I would like to send you home with a very informative booklet, which may cover some possibilities I may not propose to you. You can let me know if you want to indulge in any you find interesting. After all the preparatory discussion was completed, we got down to the nuts-and-bolts task of implementing the investment decisions made to create my financial portfolio. In simplified terms, this meant the paperwork process had begun. I gave Luke the list of all my creditors with appropriate account numbers. He assisted me in a quick and easy way to electronically transfer money to pay off all my creditors that were hooked up to the system. “Will, for these three creditors you will have to pay them off the old fashion way; by mail.” “No problem. I think I can afford a few stamps.” My regular „ole savings account balance had always been on the paltry side, but in a few short minutes it was bulging near the six figure mark. I had another savings account in a small town in Colorado, but I had other plans in mind for it. Luke wanted me to place my money in higher return investments, other
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than savings accounts, but I insisted. He said the same about certificates of deposits, but I took out a three, six and twelve month CD. Each were for one hundred thousand dollars and I asked Luke to send me the paperwork to open a new one each month for the same amount. I wanted one of them to mature every month of the year. I could just let them roll over until I wanted to use the proceeds for something else. I happened to notice the time. “I suppose we will have to meet again to work on this some more, since you are about to close.” “We do follow normal business hours for the general public, but in special circumstances we conduct business at any time. I have been with clients well past midnight and even on Sundays. At times, urgency overrides when the doors are open.” “In other words, Luke, when someone has thirtytwo million bucks to throw around, one is treated as special?” “Exactly,” Luke replied, with a grand smile. “I can last for a bit longer, but I am growing a little weary.” Luke set me up a personal account in the stock market and suggested several companies with good track records, who had been giving out higher than average dividends on a regular basis. “I want you to take a little stock tip sheet with you, too. It will show other stocks with strong potential. Remember, in the market it is best to diversify and not put all your eggs in one basket.” “An old saying . . . I love it” “What?” he asked. “Oh, nothing, Luke. I guess it‟s from being a “history geek” for so long that I just have a thing for old sayings. They are always so descriptive of real life and their meanings and use have held up for so many years.” “Interesting,” Luke said while shaking his head.
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“Please, do continue.” “I‟m curious, Will. Why did you choose to receive a lump sum payment from the lottery rather than spread it over a number of years?” “I don‟t know. I guess I wanted it all at once in case the lottery business went under.” “Well, it was a good choice, whatever the reason. People think they will be paying less tax with multiple payoffs, but if you properly invest the proceeds, you will do better.” “Luke, I‟m worn out with all this. Why don‟t we continue in the morning at about nine?” “That works fine with my schedule. Will, it‟s been a pleasure meeting and working with you today. We should get everything else accomplished tomorrow.” Luke walked me to a side door and let me out.
My meetings through the next day with Luke ran smoothly enough. I purchased a moderate amount of shares in five different companies. On top of the stock, I now had an IRA, a TDA, numerous CD‟s, government and municipal bonds and many other investments. I had to rent a large safety deposit box just to keep all the important papers in one convenient location. I signed so many forms to finalize the paperwork on the investments chosen that my fingers ached. I also met with a probate lawyer to make out a will, which was the final step in the immediate process of dealing with such a large amount of money. The amount in my checking account almost scared me. There wasn‟t enough room in the ledger‟s balance column to enter what I had, but I would soon be moving most of the funds out to other investments.
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I thanked Luke for all his help. He told me to thank Michele for recommending him to assist and I said I would. I never did ask and Luke never did mention what the charges would be for his help. I guess we both figured I could afford him. Over the next few days, as one might imagine, I became inundated with requests for contributions via the postal service, phone calls and even through my email, which I thought was somewhat private. Churches, youth organizations and seemingly every other not-for-profit entity had asked me to share my wealth with them. Even a bundle of established businesses wanted me to become their silent partner. I expect it‟s understandable, but the notoriety tended to wear me down. Unknown souls wanted me to give them money so they could purchase a car or a house and in some cases, both. A young boy asked me, by mail, to get him a puppy for his birthday. One teenager wanted me to adopt her. Well someone said, “Watch out for what you wish for; you may get it,” so I decided to grin and bear it, because it seemed to be better being rich and bothered, over any alternative I could think of, at the time. By the way, I bought the boy a puppy, after obtaining approval from his parents, who were shocked that their eight-year-old son had written to me with the request. The feeling I had was rather peculiar, in a pleasant sort of way. I was debt free. The last time I could remember not owing anyone money was in the days when I was a teen. I had paid off my bills of slightly over $123,000. The major expenditures of that figure were due to numerous large amounts incurred after a very painful and costly divorce. The payoffs took the better part of the “change” from my winnings, but I had to smile, though. For the time being, I made no further immediate commitments with the loot.
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A number of years ago, I once had made a list of what I would do with the money after winning the lottery. I searched high and low for it and finally came up with the aged, single sheet of notebook paper. At the top I had titled it “WHAT I WILL DO WITH TEN MILLION DOLLARS”. Now I was planning what to do with $32,000,000? I believed I would win the lottery. I just didn‟t know how much it would amount too.
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