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Old 01-09-2016, 12:23 PM   #61
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There are a lot of unselfish things I would do, charities and helping families, etc.

One selfish thing I would like to do is have our house remodeled, renovated, redecorated. I hate living through projects so we would go stay in a nearby suites hotel and get all the projects done at the same time. Or maybe.......leave town for somewhere else and come back to a "new" house.


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Old 01-09-2016, 12:26 PM   #62
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If I win Powerball tonight I will be paying each of you the $10,000 that I owe you for the years of excellent advice and humor that you all have given me.

Now all I have to do is convince my self that purchasing a $2 ticket fits into my LBYM strategy.
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Old 01-09-2016, 12:28 PM   #63
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Anonymity isn't an option in most states:

Quote:
CAN I REMAIN ANONYMOUS WHEN I HIT THE JACKPOT?

All but a handful of states (DE, KS, MD, ND, OH for now) have laws that require the lottery to release the name and city of residence to anyone who asks.
Powerball - FAQ
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Old 01-09-2016, 12:30 PM   #64
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Anonymity isn't an option in most states:



Powerball - FAQ
Hence legal name change and extreme makeover prior to claiming your winnings.
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Old 01-09-2016, 12:30 PM   #65
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OK.... here is how big that amount is....

You are left with $500 million... invest at 4 to 5%... so your YEARLY income is now $20 to $25 million....

When it comes time to change the oil on the car, just give it away and buy new one... barely a rounding error (2 or 3 new cars a year)...

Fly first class everywhere... again, not spending enough... better to buy your own jet... but, since we are cheap, we will only buy time on a private jet...

Have 3 to 10 houses around the world... where ever you like... in the end this will probably increase your wealth....



But, first thing I will do is kiss DW.... then go change the shorts
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Old 01-09-2016, 12:31 PM   #66
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With this pot size ($900 Million now), I'm sure I'd give at least 50% away almost immediately to charity, family and friends ... and build houses for the homeless too. There will be a huge gift tax.

Then, get a nice house, car, and a harem lol
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Old 01-09-2016, 12:33 PM   #67
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You are left with $500 million... invest at 4 to 5%... so your YEARLY income is now $20 to $25 million....
Lump sum is around $500M. Then you still need to pay federal (and state if applicable) income taxes.

In CA, you'd probably be left with $200-300M after tax.
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Old 01-09-2016, 12:34 PM   #68
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I guess I first need to buy a ticket to win. When anybody wins, the first thing they should do is get new phone and go away. Meet with estate tax attorney to set up trusts or similar for the money. You will have to get pictures taken, but do not go home or answer your old phone. Stay unavailable for a while once you set up the required accounts for the money.

I would take care of family with some generous gifts and setting them up for FI or FIRE. Pay off my church's mortgage and make a big donation as well. Give a lot of money to the animal shelter. I would put most into investments with broad AA and diversification, with the expectation to live off the income at a very high std of living.

I would short term take about $500K and travel, buy some new vehicles, and build a moderate 50,000 sq ft garage at my new house, have to decide where still. Take an additional $1M to buy some collector vehicles to fill up the new garage.
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Old 01-09-2016, 12:36 PM   #69
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Since ND allows anonimity I would choose that. Then donate to charities and do some remodeling on my house. Then buy a very nice motorhome and go south for the winters.
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Old 01-09-2016, 12:38 PM   #70
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I would buy six of the largest excavators in the world and fashion them together into a three story hexapod with a little control booth up top. I would then buy about 100,000 acres somewhere to play with it.
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Old 01-09-2016, 12:42 PM   #71
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Hmm, should probably get some SPIAs from different insurance companies that throw off a combined $25-50K a month in income as a safety net. Hopefully, that would be enough to cover ongoing living expenses and LTC in 50 years even with inflation.
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Old 01-09-2016, 01:03 PM   #72
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I would give 10% to my kids. Then I would shop for an asset manager. I would give her 1% of the gross AUM only if it grew. Then if it grew by more than 10%, I would give her 20% of the growth above 10%. I would give my 80% of that to charity.
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Old 01-09-2016, 01:20 PM   #73
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Just keep farming till the money ran out.

This seems a bit much - but maybe if it was moved to somewhere with some sunshine?

The real-life Appledore house, home to Sherlock's Charles Magnussen | Daily Mail Online
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Old 01-09-2016, 01:30 PM   #74
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Just keep farming till the money ran out.

This seems a bit much - but maybe if it was moved to somewhere with some sunshine?

The real-life Appledore house, home to Sherlock's Charles Magnussen | Daily Mail Online
Although beauty is in the eye of the beholder - what an ugly monstrosity- I don't blame the guys wife for not wanting to live there!
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Old 01-09-2016, 01:56 PM   #75
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Truth is, winning a lottery of this size is likely to end up being a nightmare for the lucky ticket holder.
This is true, some people don't buy into the lottery until it hits the amount where if you won, you'd be sorry.
If you won at say $50m you'd probably not even be a blip on the radar, but when every entertainment (news) station in the country is running stories about the large amount and what they would do with the money it is going to be a nightmare for the winnter(s).
If I were a betting person , I would say that there will be more than one ticket to share the pot with on this drawing, which might be a good thing.

If I won:
After doing my best to stay anonymous (and never telling anyone that we won the lottery),
Set up a trust for each kid that will supply them with a decent annual income.
Give the maximum taxfree gift to each extended family member with the explanation of we came into some money.
Repair, remodel, put in a pool, home renovation.
Fly first class, more vacations, etc. etc.

I find it kind of funny when Good Morning America is talking about the lottery and some of the big name entertainment is talking about getting a lottery ticket and I'm thinking you've already won the lottery with your current multi million dollar gig (i.e. Michael Strahan)
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Old 01-09-2016, 01:57 PM   #76
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Anonymity isn't an option in most states:

Powerball - FAQ

From the web site; "You do NOT have to cash the ticket at the same store, but you do have to cash the ticket in the same state."
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Old 01-09-2016, 02:04 PM   #77
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I want to keep dreaming, so $2 is cheap.


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Old 01-09-2016, 02:18 PM   #78
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I would give money to forum posters, to a tune of $100 for each post that they have made. There are posters here with more than 10,000 posts, and that's a cool $1M+ for each of them.

However, I would notify the forum admin first before my announcement, so they would freeze the post counts. Else, the forum Web site would crash.

But before y'all get excited, I do not plan to buy any ticket.
Just getting my post count higher in case you change your mind and buy a ticket.
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Old 01-09-2016, 02:33 PM   #79
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Actually the lump sum is $496 - so around $250k after tax (I live in a high tax state.)

It'll still be enough for me.
Yeah, I think we could squeak by on that....

Now they're saying estimated jackpot is $900m. Yikes. Watch the frenzy if no one hits!

Rent a house in FL (not buying, don't want the maintenance hassle) look into at least a twin-engine turboprop airplane if not a jet, but only if that is sustainable. Kind of hard getting my head wrapped around what I'd do with ~$450m. I don't really know.

Lessee... 4% of $450m is 1.8m... 3% is $1.35m... Yes I think we could manage on that. Not sure if we could spend that much but it'd be fun trying to.
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Old 01-09-2016, 02:46 PM   #80
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Lessee... 4% of $450m is 1.8m... 3% is $1.35m... Yes I think we could manage on that. Not sure if we could spend that much but it'd be fun trying to.
Why take the lump sum?

At $900 million with the first immediate payment of $30 million and 29 more payments of $30 million, you would not need to worry at all about 4% or 3% and you could freely blow all of the money each year. It would be about $17 million each year after fed tax plus ACA add on (assuming that continues). No state tax because obviously you would relocate to FL, TX, WA, or similar.
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