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Old 03-30-2012, 11:58 AM   #61
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If I won a half billion dollar jackpot, I'd sooner just give the house away than deal with trying to maintain it, rent it out or sell it.
I think the first thing you should do is a quick sale on the house for $1 before you collect and get the hell out of town. You will want to be long gone, untraceable and into hiding before you collect. Hiring a fulltime professional body guard might not be the worst investment either. The leachers will come immediately to suck the lottery blood out of your body. I read there are people who literally are professional beggars that track down lotto winners and try to lie, cheat, beg, or steal the money from the winner any way possible. And that is in addition to your " friends" who will crawl out of the woodwork to find you
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Old 03-30-2012, 12:10 PM   #62
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Yep! Any of us now regretting posting too much on the forum here?

I have not bought any ticket, but if I won, I would make a teasing post then disappear. However, I am sure there would be a lot of RV'ers on the look out for an eccentric guy on the Alcan highway. And he might even look like Steve McQueen.

PS. Perhaps Dex was one of the past jackpot winners, and that's how we have not heard from him. Oh, and CuppaJoe too.
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Old 03-30-2012, 12:18 PM   #63
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I've always been fascinated with the psychology of lottery winners... if you take the time to look up some of the books/articles about what people refer to as the lottery curse there are some very interesting case studies on what huge windfalls do to people. Not just lottery winners but also large unexpected inheritances.

Most who have spent extensive time on the topic come to the same conclusion... winning the lottery actually makes the majority of people more unhappy than happy when they look back 5 years later. There are a variety of reasons for this (here are just a few):

Most people could go through this list and explain how each would not effect them, but the fact is, you don't really know until you experience it. (caveat: the types who FIRE don't usually fall into (m)any of these categories... but then again, we are also not the types to typically win the lottery)

- Loss of Dependence: Sounds like a positive, but for many it is not. We go through life slaves to money (at least almost everyone who plays the lottery is)... it controls our lives, and suddenly when we can buy anything we want that structure is gone. We get confused about where we are going and what plan we have for our future.

-Transparency: Suddenly everyone knows you have money... money that you did not earn and many think you don't deserve. Your relationship with everyone (even immediate family) changes instantly... no matter how you try to avoid it, the fact that you have a lot of money means people view you differently. The closer they are, the more they think they know how to advise you on what to do with it and how much of it you should spent or give to them.

- Guilt and Responsibility: Lotto winners are suddenly tasked with evaluating how and where to distribute the funds. It is like suddenly being thrown into the roll of a CEO... where your decisions directly effect hundreds or even thousands of lives. "If I give some of the money to that animal shelter, then how many homeless kids will go without food?", "This charity is begging harder for money to stay afloat, but this one I believe in more." They will blame you if you don't donate to them... and you'd be surprised at the lack of appreciation you receive from the ones you do donate to (almost like they expect you to since it's not really your money after all)

- Bankruptcy: As many have seen in this thread already... the thought of lotto winnings instantly brings to mind all of the things you want but don't need. You suddenly are vaulted into a world of consumption. Many don't understand how to accumulate wealth or let money work for them. They manage the money the way they always have (what is there... is there to spend). 50% of people living below the poverty line that win the lottery... end up back in poverty within 5 years. Amazing huh?


The success stories after winning the lottery have some common connections:

1) saved the majority of the money they won... investing it or buying/building a company from it.

2) they continued living their lives almost the same as they did prior to the lottery winnings.

3) they didn't go public with it

Best example I could find is a couple from Arizona who won a 5 million dollar lottery and instantly FIRE'd living off of 4% of it a year ($200,000). They didn't splurge on it at all. They travel the world now and are enjoying life. Only negative they indicated is that they don't have many of the friends anymore that they knew before winning the lottery.
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Old 03-30-2012, 01:46 PM   #64
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Originally Posted by ziggy29
If I won a half billion dollar jackpot, I'd sooner just give the house away than deal with trying to maintain it, rent it out or sell it.
+1 yeah just rent furnished places and ship your personal items wherever your current fancy is.

This thread provides just as much entertainment as buying a ticket does
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Old 03-30-2012, 01:48 PM   #65
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Probably my favorite quote under the CNN Article:

"With $600 million I can finally buy myself half of a B-2 Stealth Bomber. It would be completely useless, but I can wait to win the next $600 million, to make it complete."

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Old 03-30-2012, 03:37 PM   #66
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State Lottery Headquarters: Home of the Optional Tax
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Old 03-30-2012, 03:44 PM   #67
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State Lottery Headquarters: Home of the Optional Tax
I'm all for increasing/promoting the lottery... if it means I pay less in taxes.

You know what they say about a fool and his money...
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Old 03-30-2012, 03:45 PM   #68
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State Lottery Headquarters: Home of the Optional Tax
I guess my biggest problem with it is that the marketing seems to be aimed at many of the people who can least afford to buy lottery tickets. Sure, they may throw in a quiet "play responsibly" in there, just as alcohol ads do, but they still seem to going after those who can least afford to be buying tens of dollars of tickets a week.
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Old 03-30-2012, 03:48 PM   #69
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No lottery here in Utah, but I hear on the news that many are heading up North to Idaho or down to AZ to buy some tickets.

Too bad we aren't keeping the dollars in the state. If there was, I would spend a few bucks from the Pepsi stash and get a couple of tickets.
If I came into that cash, I would wait a little while for the hub bub to die down then try to claim it anonymously.
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Old 03-30-2012, 04:00 PM   #70
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The jackpot has jumped up to $640 million!

I bought some tickets this morning and then noticed long lines forming in another store just before noon. Could be a wait if anyone wants to buy tickets later today.
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Old 03-30-2012, 04:56 PM   #71
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No line at the little corner store. Just walked in at 10:30 a.m. and didn't have to wait it line.
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Old 03-30-2012, 05:06 PM   #72
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DW bought a ticket. It's a fantasy for her, something to dream about. Not worth arguing about.
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Old 03-30-2012, 05:35 PM   #73
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I don't care what you guys say. If someone is staring a lottery pool at work, there is NO WAY I will not join!

If you won mega millions, how would you spend it? Get your car tuned up? Get some nice clothes?? No, seriously, if you were gifted with mega millions, what kind of non-profit organizations do you think you would start? (I am talking a few hundred million dollars here.) It doesn't have to be "wo*k"; you can just get someone to start it for you, but what would you start?
Something similar to MacArthur Fellowships.
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Old 03-30-2012, 05:44 PM   #74
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Last week the Danish lotto told 300 people they had each won $3.8B. That is serious money and they are lucky no one died from surprise.
That's a pretty funny story. I get e-mails claiming to be from the head of a dozen different national lotteries every week, saying that I've won. A case of life imitating spam (or scam).
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Old 03-30-2012, 06:48 PM   #75
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Just got back from the 7-11 with my ticket. At $1 it's worth the 175M->1 odds. It's an experiment for me. I want to see how I handle the pressure of winning all that money. I think I'll be OK. I've spent a large part of my life alienating friends and family, so I've got experience.

I did like the article I read this morning that said I am 33 times more likely to be killed by bees than winning.
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Old 03-30-2012, 06:59 PM   #76
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Just got back from the 7-11 with my ticket. At $1 it's worth the 175M->1 odds. It's an experiment for me. I want to see how I handle the pressure of winning all that money. I think I'll be OK. I've spent a large part of my life alienating friends and family, so I've got experience.

I did like the article I read this morning that said I am 33 times more likely to be killed by bees than winning.
I think the better odds are....You are five times more likely to get in a fatal car crash going to buy the ticket......better think about walking.
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Old 03-30-2012, 06:59 PM   #77
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The whole deal kind of saddens me a little bit. Unlike the people on this forum, many are actually betting their future on the outcome of a lottery.
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Old 03-30-2012, 07:33 PM   #78
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Funny? Ironic? Evidence of lottery bad math? You be the judge...

Just below "Estimated Jackpot $640 million" it says "Save for Retirement"
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File Type: jpg mega.jpg (306.5 KB, 4 views)
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Old 03-30-2012, 07:35 PM   #79
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I did like the article I read this morning that said I am 33 times more likely to be killed by bees than winning.

You have to watch out for those falling TV's landing on your head, too.
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Old 03-30-2012, 07:42 PM   #80
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The whole deal kind of saddens me a little bit. Unlike the people on this forum, many are actually betting their future on the outcome of a lottery.
I wouldnt be surprised if what you said is true. In fact there are probably a few people out there with very little money buying $100 worth of tickets thinking that gives them a decent shot at winning. The odds are almost to big to imagine. If every living person in the US bought 1 ticket, two people would split the jackpot. Assuming my math is correct. I have spent less than $10 on lottery tickets in my life, but $5 of it was " invested" yesterday. I believe I have got $30 of entertainment day dreaming out of it already. It is amazing the detail some of my friends have sent me on what they would do with the money. Im retired so I can day dream, they are supposed to be working
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