Pay off my house, pay off my sisters house for her, send my parents on some vacations, sign up for classes at UK I'd actually want to take like foreign language, anthropology, travel to every MLB and NFL stadium, UK football season tickets.
Powerball is up to 1 Billion. What would you do with the money?
- Thread starter CaptainBoogerBuns
- Start date
Don't know if math is correct but guessing lump payout is around $600 million....
-Quitting job and opening a driving range
$300M investing immediately
$100M to charity over time
$100M to parents and friends
$50M to UK
$50M pocketed for $1.25M a year in play money
-Quitting job and opening a driving range
$300M investing immediately
$100M to charity over time
$100M to parents and friends
$50M to UK
$50M pocketed for $1.25M a year in play money
Yup. The fact that governments the world over have monopolized lotteries should be bloody red flag.
There is no inherent reason why a regulated private lottery industry can't exist -- except that the profit margins are so huge and the moral hazard is so great that the government wants that sweet, sweet money tit all to itself.
Simply put --> if you spend more than a passing second thinking about winning the lottery, you are a loser. This is America. Anyone can get rich with a plan and some reasonable work ethic.
We're talking 500mil cash.
I think you could put that in guaranteed and be just fine.
Most everyone's response doesn't put a dent in 500 mil.
Well I thought I might want to see the Titanic, but changed my mind recently.
Invite everyone on CI to a party at Keeneland. Free drinks even.
But it would be at my son's expense as I'd give him the ticket. At my advanced age, government would turn around & quickly hit me with additional estate taxes. He'd have more time to use it. Would also move to an income tax and estate tax free state.
But it would be at my son's expense as I'd give him the ticket. At my advanced age, government would turn around & quickly hit me with additional estate taxes. He'd have more time to use it. Would also move to an income tax and estate tax free state.
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I'd do the initial splurge and reasonably help any family and friends do away with any debt. Otherwise, I'd most likely invest it to try and double it. There are numerous things but instead of buying myself a condo, I may buy an entire complex and rent/sale the units. I wouldn't go crazy and buy a place in every beach location because hell, If I wanted to go, it'd not cost anything to rent a place for a week or three.
I'm here, I've just been having trouble with my liver failure.
Ugh I got diagnosed with that back in March. Not a fun time
I was March as well, 3/3. So now I sit waiting on disability since my doc won't sign off on my trying to work anymore. I got too tired too fast anyway and I have zero tolerance for stress these days. I had to have emergency TIPS surgery. They sedated me for a scope and I woke up 2 days later intubated...not fun.
Ha, you'll be fine, they were scoping me to see why I was puking huge amounts of blood. They found a bad bleeder in my stomach and plugged it, then another bleeder popped open. It was the 4th try before they got the bleeding stopped then they did the TIPS procedure which is running a shunt through your jugular into your liver to reduce pressure. Then 5 days in ICU.
This is what can happen when you have a fatty liver. If you do, lose weight and cut way back on drinking. I didn't take it seriously and paid the price.
I get it about it ruining lives, but just a minor bit of discipline on the front end of receipt and you should still be able to be ass-wild with stuff. If you have 500 million in your account and can manage to suffer by on spending 20 million a year or less, you probably won't even dent the principal. I just can't fathom how people could screw up that much money. Barring starting a Navy, or buying a duchy, I just can't see effing it up. Then again, I do know some straight dipshits...
The problem is it wasn't just you that won the lottery, it was also all of your family and friends that won it as well. Without discipline and anonymity there will be issues.
If you take the money up front then you'll actually get around 30% in states that do tax the winnings and about 35% in states that don't.
Keeping it simple a billion ends up 300-350 million. Even if you go crazy at first and spend yourself down to 250 million, you should easily be able to make 5% on your money which is roughly a million per month.
That should be pretty easy to budget so that you never touch the 250 and in fact it should be growing by 11 million per year.
The amount of crazy you'd need to do to truly blow $50M in a single year is astounding. Yeah, you could buy a lot of property and have that asset, but to have nothing to show for $50M just having fun would be something else.
Yes, I understand all of that. My point was he itemized $600 million of things he would do with the money. If the lump sum payment was $600 million, there would likely be taxes due on that lump sum. So you won't have $600 million to spend. You will have an amount net of taxes.
With a billion in winnings, I would consider taking the 30 yearly payments instead of the lump sum. Would be 30 years, but you would get 600-700 some million.
Some do but inflation can be pretty volatile. It would be roughly 600M in payouts but it certainly would not be 600M in today's buying power.
I would definitely consult all of you first
The lump sum payout option will likely be about $350 million after taxes. Still a hefty chunk of coin.
First, I'd set aside a little bit and do some travelling.
Either give to a reputable charity or start my own.
I'd probably buy a piece of land and build a home. nothing outrageous or over the top, don't need that.
I would quit my role at work, but instead go from an employee to being one of the investors in some of the companies ventures, and use the vast resources at my disposal to start some of the ventures I have in my head. put my money to work. I'd want my $350 mil to grow, not fritter away.
First, I'd set aside a little bit and do some travelling.
Either give to a reputable charity or start my own.
I'd probably buy a piece of land and build a home. nothing outrageous or over the top, don't need that.
I would quit my role at work, but instead go from an employee to being one of the investors in some of the companies ventures, and use the vast resources at my disposal to start some of the ventures I have in my head. put my money to work. I'd want my $350 mil to grow, not fritter away.
Hey a million dollars was a lot of money 30 years ago, and it's a lot of money today. The 30 year plan would probably help me not blow it as well. LOL
Thankfully everything went good today. I hadn’t been put under since I was 18 so I was shocked at how quick I recovered. But they found some ulcers, something I forgot how to spell, and took some biopsies. We left the hospital and went to get lunch and played top golf. Last time I went under I was done all day
Glad it went well. We both need to make ourselves as healthy as possible with diet and exercise. That gives us the best chance at "normal" lifespans. If I can help with anything, please let me know.
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