Win the Powerball, what would you change?

I would build a new house, perhaps a timberframe, but no bigger than I really need. I would also spend a tremendous amount of time travelling.
 
I would certainly, seriously, consider changing the two front tires @ my old Toyota Corolla (they are getting a little worn) and perhaps take it in for an oil change instead of doing it myself. Man that would be the life...
 
ejman said:
I would certainly, seriously, consider changing the two front tires @ my old Toyota Corolla (they are getting a little worn) and perhaps take it in for an oil change instead of doing it myself. Man that would be the life...
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Since I was spending so much on my dream house last year, I figured why not start leading the good life. So last month I bought four brand new tires and a new Sears diehard battery, whoopee! Let the good times roll. :D
 
ejman said:
I would certainly, seriously, consider changing the two front tires @ my old Toyota Corolla (they are getting a little worn) and perhaps take it in for an oil change instead of doing it myself. Man that would be the life...
Click to expand...
Yea, why cross thread the drain plug when some else can do it for you?

W2R said:
Since I was spending so much on my dream house last year, I figured why not start leading the good life. So last month I bought four brand new tires and a new Sears diehard battery, whoopee! Let the good times roll. :D
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You are my kind of people. Wild and crazy.
 
W2R said:
Since I was spending so much on my dream house last year, I figured why not start leading the good life. So last month I bought four brand new tires and a new Sears diehard battery, whoopee! Let the good times roll. :D
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Four brand new tires? all at once? Dear Lord have you no self control at all?
 
travelover said:
You are my kind of people. Wild and crazy.
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ejman said:
Four brand new tires? all at once? Dear Lord have you no self control at all?
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None! Only one of them had an unpluggable leak, too. I'm one wild and crazy girl... :dance:

They were six years old and conventional wisdom has it that tires eventually start to rot even if you don't put much mileage on them. Honestly I thought about buying a new car instead of dropping $$$ on those extra huge tires. But, I couldn't find a car that I wanted any more than my [-]annoying nanny car[/-] 2009 Venza.
 
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Walked the pooch up to the store - bought butter, eggs, and a powerball ticket. This baby is mine!
 
EastWest Gal said:
I would do everything I can to stay completely anonymous.

I would create an organization that helps support community arts groups around the country-live theater, music groups, etc. An LLC, like Mark Zuckerberg is supposedly doing.

I would keep some of it and make sure DS has a nice chunk to invest. I would fly first class, travel more and do some upgrades on the house. I'd bail my cousin out of his mom's estate Medicaid bill and set him up with a nest egg. Not sure about other extended family and friends. Too many behavioral issues there. Which is why I want to remain anonymous.

I will buy a ticket, for the entertainment value of thinking about it.

Of course, one's chances of winning are about the same if you buy a ticket or not!


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Your first wish is impossible... you have to appear to get your winnings...
 
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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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.
 
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 :LOL:
 
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
 
Texas Proud said:
You are left with $500 million... invest at 4 to 5%... so your YEARLY income is now $20 to $25 million....
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Lump sum is around $500M. Then you still need to pay federal (and state if applicable) income taxes. :rolleyes:

In CA, you'd probably be left with $200-300M after tax.
 
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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.
 
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.
 
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.
 
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. :tongue:
 
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.
 
REWahoo said:
Truth is, winning a lottery of this size is likely to end up being a nightmare for the lucky ticket holder.
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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 :D, 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) :LOL:
 
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