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01-09-2016, 01:48 PM
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#81
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Moderator
Join Date: Dec 2007
Location: Eastern WV Panhandle
Posts: 25,340
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Quote:
Originally Posted by Sunset
Hire body guards.
Worry about being kidnapped, or relatives being kidnapped for few million ransom.
In some ways its too much money, hard to even think how to spend it.
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Maybe initially, but really, do people like Bill Gates, Warren Buffet, wealthy actors, etc. hire body guards? This is still small potatoes compared to what they have.
After the media frenzy died down I'd think one could go back to normal life. I'd just take a long vacation to Hawaii or someplace else where the weather is warm.
__________________
When I was a kid I wanted to be older. This is not what I expected.
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01-09-2016, 02:00 PM
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#82
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2007
Posts: 13,227
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Quote:
Originally Posted by Walt34
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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You're a factor of 10 low. 3% is 13.5M.
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01-09-2016, 02:03 PM
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#83
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Moderator
Join Date: Dec 2007
Location: Eastern WV Panhandle
Posts: 25,340
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Quote:
Originally Posted by RunningBum
You're a factor of 10 low. 3% is 13.5M.
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Dang decimal points keep jumping around.
__________________
When I was a kid I wanted to be older. This is not what I expected.
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01-09-2016, 02:10 PM
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#84
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Full time employment: Posting here.
Join Date: Apr 2015
Posts: 903
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Quote:
Originally Posted by Fermion
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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Annuity option is backloaded. Iirc, the annual payout increases by something like 3-4% a year until you get the entire cumulative $900M by year 30.
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01-09-2016, 03:17 PM
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#85
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Sep 2012
Location: Seattle
Posts: 6,023
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Oh, I didn't know the annuity was backloaded. Probably would take the lump sum then.
I wonder in truth how many on here would actually come back to post if they won this amount? Would you? I like to think I would but there would be so many new different opportunities. Pretty much never needing to worry about money, insurance costs, retirement would negate a lot of the fun of reading this forum. I might make one post revealing my true name but I doubt anyone on here would believe me. I am not even sure how you would prove you won to people.
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01-09-2016, 04:20 PM
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#86
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Recycles dryer sheets
Join Date: Aug 2013
Posts: 484
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OK, let's see - with $900,000,000 and including that with my pension income, and assuming I'm smart enough to maintain sensible AA while not incurring any additional interest income for 2016, my 2016 tax bill will be a deficit reducing $356,340,537. And according to FIRECalc, I'd be left trying to get by on $19,543,071 a year (or $53,543 a day), assuming 30 more years to spend it all. Enough to keep about 250 people on around the world crusies.
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01-09-2016, 04:29 PM
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#87
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Sep 2012
Location: Seattle
Posts: 6,023
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I am actually considering going on Washington State Medicaid if I win the $900m. Medicaid depends on monthly income, which I would have none. All of my income would be lumpy.
Unless I could figure out a way to get a subsidized bronze plan at low cost.
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01-09-2016, 04:59 PM
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#88
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Full time employment: Posting here.
Join Date: Apr 2015
Posts: 903
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Quote:
Originally Posted by Fermion
I am actually considering going on Washington State Medicaid if I win the $900m. Medicaid depends on monthly income, which I would have none. All of my income would be lumpy.
Unless I could figure out a way to get a subsidized bronze plan at low cost.
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My parents and brother were on CA Medicaid (Medi-Cal) when we first migrated to the US. Max assets they were allowed to have to be eligible was $2000.
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01-09-2016, 05:27 PM
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#89
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Thinks s/he gets paid by the post
Join Date: Feb 2014
Location: Syracuse
Posts: 3,502
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__________________
“No, not rich. I am a poor man with money, which is not the same thing"
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01-09-2016, 05:48 PM
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#90
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Recycles dryer sheets
Join Date: Dec 2013
Posts: 331
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I'd do what most of you have previously stated - consult a pro team before redeeming, charity, gifting, lots of travel - but I'd also hire a daily maid even if I didn't upgrade my housing. Oh, the joy of never washing a dish ever again!
Sent from my iPhone using Early Retirement Forum
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01-09-2016, 08:53 PM
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#91
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2007
Location: New Orleans
Posts: 47,500
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Quote:
Originally Posted by FI by 2024
I'd do what most of you have previously stated - consult a pro team before redeeming, charity, gifting, lots of travel - but I'd also hire a daily maid even if I didn't upgrade my housing. Oh, the joy of never washing a dish ever again!
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I wouldn't want a maid around all the time, but now that you mention it, not washing dishes sounds great. I suppose that if we don't win the Powerball, each of us could buy a package of paper plates as a consolation prize.
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities. - - H. Melville, 1851.
Happily retired since 2009, at age 61. Best years of my life by far!
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01-09-2016, 09:07 PM
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#92
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Nov 2010
Location: Sarasota, FL & Vermont
Posts: 36,371
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Powerball winning numbers for 1/9/2016: 32-16-19-57-34 and Powerball 13
__________________
If something cannot endure laughter.... it cannot endure.
Patience is the art of concealing your impatience.
Slow and steady wins the race.
Retired Jan 2012 at age 56
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01-09-2016, 09:36 PM
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#93
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Thinks s/he gets paid by the post
Join Date: Dec 2015
Location: Santa Paula
Posts: 4,076
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Nothing! I bought 10 tickets and came out with zilch
__________________
Retired Jan 2009 Have not looked back.
AA 60/35/5 considering SS and pensions a SP annuity
WR 2% with 2SS & 2 Pensions
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01-09-2016, 11:14 PM
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#94
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Recycles dryer sheets
Join Date: Dec 2013
Posts: 331
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I won the Powerball! (JUST the Powerball)
$4 will buy some paper plates!
Sent from my iPhone using Early Retirement Forum
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01-10-2016, 12:39 AM
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#95
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Full time employment: Posting here.
Join Date: Feb 2008
Posts: 748
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Quote:
Originally Posted by Ronnieboy
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.
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This explains why I don't bet.....no jackpot winner and it rolled over to 1.3 Billion. With the buying frenzy, should easily go over 1.5 Billion by Wednesday. Time for another 10 liner.
__________________
I don't want to spend my entire life at work. I deserve more. - Want2retire aka W2R
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01-10-2016, 06:15 AM
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#96
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Recycles dryer sheets
Join Date: Dec 2013
Posts: 331
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Quote:
Originally Posted by FI by 2024
I won the Powerball! (JUST the Powerball)
$4 will buy some paper plates!
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lol, this explains how little I know about Powerball. I had the Powerplay option, so I actually won $12! Paper plate (singular) for everyone!
Sent from my iPhone using Early Retirement Forum
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01-10-2016, 07:37 AM
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#97
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Full time employment: Posting here.
Join Date: Mar 2008
Location: Northern California
Posts: 549
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Make an appointment with an HONEST financial adviser.
I'd hire an HONEST bookkeeper and housekeeper.
I'd trade in my '98 Honda for new wheels.
I'd go to the coast for a couple of weeks to pray and think.
Actually, I am happy where I am, thanks to you all and the Bogleheads...I'm inclined to give to my family, friends, and favorite charities.
Now that I think about it, maybe purchase new sheets from LL Bean, instead of Ross.
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01-10-2016, 07:48 AM
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#98
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2002
Location: Texas: No Country for Old Men
Posts: 50,021
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Quote:
Originally Posted by antmary
Make an appointment with an HONEST financial adviser.
I'd hire an HONEST bookkeeper and housekeeper.
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Here is an example of the kinds of problems all that money would bring. How do you identify those HONEST people? And if you do, will they remain HONEST after being exposed to hundreds of millions of dollars?
__________________
Numbers is hard
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01-10-2016, 08:09 AM
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#99
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Recycles dryer sheets
Join Date: May 2011
Posts: 325
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I see three of twelve recent topics are on powerball.
Are we so shallow for so much attention to this topic?
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01-10-2016, 08:11 AM
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#100
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Recycles dryer sheets
Join Date: Mar 2007
Posts: 315
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Went to a party last night and first topic of conversation was the lotto. We agreed that buying a ticket didn't increase our chances of winning so we didn't.
__________________
"Retirement isn’t really a switch you flip at a certain age anymore," the Schwab report states. "It’s a financial state that allows for the flexibility to make work optional."
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