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Old 12-17-2013, 08:14 PM   #61
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What I have always wanted them to do is change the numbers/odds in a way where MORE people can win.....just less money. If a 100-200 people could win a $500k-$1 million.....better odds and still a butt load of money. Or have some version of that like maybe 20 people win a million, 50 people win $200K, 200 people win $50K.....etc .
Good comment F4mandolin. My sentiments exactly. I think it should be spread around more. In speaking for myself, I don't think one individual should "win" so much money. I'd feel better buying a ticket with better odds and less to win. What in the world would I need with $$316 million?

Yes I bought two tickets just in case. Wife and I would put some aside for us and our Son. Then we would give large sums to our immediate siblings who could share with their kids etc. Then charity would get the rest. That would be the fun part.
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Old 12-17-2013, 08:36 PM   #62
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I normally do not bother with these huge jackpots and long odds. But this time, someone was getting up an office pool to play. I kicked in a few bucks as insurance against being the only one left there next year.

I am hoping my tiny share is just enough to ward off OMY syndrome.
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Old 12-17-2013, 08:47 PM   #63
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I know it sounds perverse, but I don't think I'd like to win, or otherwise be given, money on that scale. I think it brings out worst in people - both the recipient and all those around him/her.
...........
+1 - I think it would totally screw over most people. The stories of ruined lottery winner's lives are legion.
Not to denigrate the comments, it just strikes me that coming into $100-$200MM is looked upon as a bad thing. Kind of like the deaf world that refuses implants that would allow them to hear.

Of course there is a downside, but please, let's be honest. So if I gave you $10K would you take it? $100K? $1M? But oh no, not $100MM.
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Old 12-17-2013, 08:52 PM   #64
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I normally do not bother with these huge jackpots and long odds. But this time, someone was getting up an office pool to play. I kicked in a few bucks as insurance against being the only one left there next year.
I used to organize a pool when I was working and the jackpot got big. Nearly everybody in the department bought in as they were afraid to be left behind.

And a pool increased the odd of winning, and I would be fine with 1/20 of a big jackpot.
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Old 12-17-2013, 09:17 PM   #65
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Of course there is a downside, but please, let's be honest. So if I gave you $10K would you take it? $100K? $1M? But oh no, not $100MM.
Just because we'd take it doesn't mean that it would improve our lives any.
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Old 12-17-2013, 09:24 PM   #66
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Well, there are some very unselfish (or mentally unbalanced) people here!

Now for the other side....I would run to the cities best tax lawyers to figure out how to best structure the winnings, and how to cut in people like GF($3-4mm max) and my kids (more). I would find somebody with actuarial and bond training, like at Frank Russell Inc, as well as the lawyers for help there.

Then today as I was walking over to buy the winning ticket, I figured I might buy a penthouse in one of the new high rises down on 2nd Avenue in Seattle, and some nice car- maybe a Mercedes or Audi S8 if they still make them. Nothing wrong with a nice seasonal condo in Palm Springs, or maybe just rent.

Next I would build a relationship with a bond house that does good research, and a hedge fund or two.

And I would have quite a bit more clout after the win than before, or someone might have some 'splaining to do.

Ha
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Old 12-17-2013, 09:29 PM   #67
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Well, I think I can, no will, indulge myself like Ha, and still have some left-over for charities.

But I still need to buy some tickets first.
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Old 12-17-2013, 09:46 PM   #68
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Then today as I was walking over to buy the winning ticket, I figured I might buy a penthouse in one of the new high rises down on 2nd Avenue in Seattle, and [...]
Oh but Ha, it's time to think BIG. Personally, I wasn't thinking about buying the penthouse of a nice new high rise... I was thinking about buying the entire building! One with two penthouses, and also with other very nice quarters. Then F could choose his condo or floor, and I could choose mine. The rest would remain empty. (I ran this by F at lunch, and he said OK, that would work, but he wants a country estate too for ham radio towers. I think he could just buy that out of his 8 figure annual stipend, no problem.)

I could pay someone generously to run the building, hire the security and doorman, coordinate maintenance, and so on, on the condition that everything necessary is done smoothly and nearly invisibly.
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Old 12-17-2013, 09:49 PM   #69
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I think the first thing I'll do when winning is post my hypothetical portfolio here and ask if I can retire yet. Hopefully a 0.01% withdrawal rate is sustainable.

Does Firecalc work with 9 digits?
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Old 12-17-2013, 09:50 PM   #70
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... I was thinking about buying the entire building! One with two penthouses, and also with other very nice quarters. Then F could choose his condo or floor, and I could choose mine. The rest would remain empty. (I ran this by F at lunch, and he said OK, that would work, but he wants a country estate too for ham radio towers. I think he could just buy that out of his 8 figure annual stipend, no problem.)

I could pay someone generously to run the building, hire the security and doorman, coordinate maintenance, and so on, on the condition that everything necessary is done smoothly and nearly invisibly.
It would feel very weird living alone in a big vacant building.

I suggest you and Frank take the top floors, then use the lower ones to run a homeless shelter.
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Old 12-17-2013, 09:54 PM   #71
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It would feel very weird living alone in a big vacant building.

I suggest you and Frank take the top floors, then use the lower ones to run a homeless shelter.
Well, but I might prefer the second floor in case there was a city-wide blackout and the elevators failed. We can always run a homeless shelter elsewhere.

I don't think it would feel weird at all, as long as the security was absolutely bulletproof and nobody could get into the second floor or higher but us.
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Old 12-17-2013, 10:06 PM   #72
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Well, a centimillionaire can certainly afford a big backup diesel generator located in the basement or out back.

And I was just teasing about the homeless shelter.

But I would really feel weird in a big empty space.
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Old 12-17-2013, 10:16 PM   #73
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Old 12-17-2013, 10:18 PM   #74
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But I would really feel weird in a big empty space.
Good thing you and your DW don't live by yourselves in a very big European castle.
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Old 12-17-2013, 10:50 PM   #75
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I think I am getting to the point where I enjoy my smaller 2nd home more than my main home.

And then, I said this in an earlier post.

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...
I would not mind helping some of our closer relatives. However, I have several cousins that I already avoid, who would come camping out in front of my home, I am afraid.

I guess I will sell my homes, pack up everything into my 25' motorhome and head to NM state campgrounds where they can't find me. Cell phones do not even work in some of those places.

Oh wait! I have to buy some tickets first before I can worry about the above scenario.

PS. By the way, lords living in European castles have lots of company. They employ many servants, and then constantly have guests visiting to entertain. They certainly do not live alone.
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Old 12-17-2013, 11:05 PM   #76
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My 1 ticket didn't win - back to the original plan of retiring at 55.

Looks like I won after all.
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Old 12-17-2013, 11:14 PM   #77
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Well, it was announced that two winning tickets were sold, one in California and the other in Georgia. And the jackpot went up to $636M.

Lotto officials said that if no winning tickets were sold, the jackpot would have gone up to $1 Billion. Holy cow! Only in the USA.
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Old 12-17-2013, 11:31 PM   #78
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I may be wrong but thought the annual payments stop if you die before they are completed.
Not true. The payments will go to the late winner's heir(s).
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Old 12-18-2013, 12:15 AM   #79
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The winning ticket in San Jose was sold in a small gift shop (Jennifer's Gift Shop), and it will stand to get one million dollars for commission, which is tremendous for that small business.
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Old 12-18-2013, 09:25 AM   #80
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Lotto officials said that if no winning tickets were sold, the jackpot would have gone up to $1 Billion. Holy cow! Only in the USA.
A billion here, a billion there....sooner or later it's a trillion and that's real money.
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