$1.6 Billion Lottery .. this supersedes the $1 Billion Lottery :)

[MRG]

I'll buy a few in cash, no waiting in line.

Winning would be a mixed blessing. I'm sure I could find something to do with some extra money. Probably do something good with it. Maybe buy a new loaded JK for me.

Actually I had bought into the last drawing and woke up in a start this morning. I dreamed I won enough to totally screw up my ACA subsidy and not a penny more! Figured I'd give the ticket to someone who really needed it.

 

[MuirWannabe]

I’m still ‘investing’ another $20 in this drawing. I’m certain I can spend the money ‘better’ than anyone else. The normal pitfalls won’t get me. It would be a fun retirement project having to manage it wisely without letting it destroy my life. It’s a tough job. But I’m willing to take one for the team.

 

[Dtail]

I’m still ‘investing’ another $20 in this drawing. I’m certain I can spend the money ‘better’ than anyone else. The normal pitfalls won’t get me. It would be a fun retirement project having to manage it wisely without letting it destroy my life. It’s a tough job. But I’m willing to take one for the team.

That's the spirit.

 

[powerplay]

It's hard to imagine the media hype the winner(s) of this jackpot will face. Guess I better buy a ticket cause you never know and holding a fantasy for awhile is kind of fun.

 

[camfused]

Let's see, $600M cash with a return of say 5%, would be $30M/year, which might be $15M after taxes. Give all the immediate relatives (about 10, including me) each about $250K/year salary (plenty of money, and they could quit their j*bs), fund a private health care plan for all of them so they have no health expenses, pay for education for all the nieces and nephews. Would probably still have $12M or so left each year, which I would give away to cancer research, education scholarships etc. It would be FUN to give that away each year!

*Never* touch the principal!

Yeah, ok, I am ready to win it.

 

[cyber888]

I guess your long lost friends and relatives who you have not talked for 10-20 years will suddenly be calling you 24/7 if you win this jackpot.

I guess the first thing I'll do is look for a vacation house on an island .. or disappear in Europe for awhile

 

[ivinsfan]

Don't want to win, would mess up my ACA subsidy.

I'm buying tickets and if I win I will pay for everyone who reads and comments in this thread who is over the ACA cliff and under 100K in income health insurance for the next 10 years.

 

[Fedup]

Don't want to win, would mess up my ACA subsidy.

Haha, good one. You are paying attention.

 

[bobandsherry]

I'm buying tickets and if I win I will pay for everyone who reads and comments in this thread who is over the ACA cliff and under 100K in income health insurance for the next 10 years.

Oh heck, might as well comment just to double my odds of winning something. LoL

 

[ivinsfan]

Oh heck, might as well comment just to double my odds of winning something. LoL

You already commented about your ACA subsidy which made me laugh and think I could afford to pay the bill of everyone here and have a few bucks left over.

 

[aja8888]

If I win this, or any lottery, the first thing I will do is get a 900 number and charge anyone who calls $5.00 per minute. I will hire a young lady with a nice voice to get their credit card number and then chat with them.

 

[Fedup]

You are pretty greedy aren’t you, even after winnng a huge amount of money.

 

[aja8888]

You are pretty greedy aren’t you, even after winnng a huge amount of money.

Privacy and stopping the calls, as there will be more than you believe.

 

[Sunset]

Oh heck, might as well comment just to double my odds of winning something. LoL

+1
Me too.

And this time I might just pay cash for my tickets, so I cannot be traced.
Nah, buy online, and if I win NetJet out of here, and join the witness protection plan.

 

[ponyboy]

Hopefully no one wins so another thread can be started about how great it would be to win. These hypothetical threads are awesome.

 

[target2019]

Nice page for reference, with payout details:
https://www.usamega.com/mega-millions-jackpot.asp
I would spread some dollars, for sure.

 

[Dtail]

Nice page for reference, with payout details:
https://www.usamega.com/mega-millions-jackpot.asp
I would spread some dollars, for sure.

Nice layout.
I would think that the actual net payout would be lower, since the 24% Federal withholding would not match (be lower than) the actual ultimate Federal taxes due on the winnings.

 

[ivinsfan]

Let's start an annuity argument in a lottery thread. General wisdom is to take the lump sum. But a net of 40M a year minus state taxes is a lot of money. On the lump sum how on earth would you deploy 642 M into the markets. Would anyone consider just taking the annual payments and why?

 

[VanWinkle]

What to do with the Learjet, gonna need a Harrier!

 

[Dtail]

Let's start an annuity argument in a lottery thread. General wisdom is to take the lump sum. But a net of 40M a year minus state taxes is a lot of money. On the lump sum how on earth would you deploy 642 M into the markets. Would anyone consider just taking the annual payments and why?

From a non financial take on your thought, what happens if one doesn't survive for the entire payout if taken yearly?

 

[ivinsfan]

From a non financial take on your thought, what happens if one doesn't survive for the entire payout if taken yearly?

I don't even know how that works,but I would likely put our DD on the payout list. I don't think I've heard of anyone taking the annual payments and maybe the rules are so fiddly that no one would think it was a good option.

 

[mystang52]

Not rationalizing, but I honestly wonder if I'd be happy winning such a bonanza. I'd probably have to move just to get away from the money-seekers, then keep the new residence a secret, consider high level security needs, and Lord knows what else to consider.

Like everyone else, more money sounds nice to me, but winnings of this magnitude could easily be WAY too much and bring more grief than pleasure, in the long run. I would fear such a drastic lifestyle change, even if on the surface it seems "what could possibly go wrong?"

 

[jetpack]

Annuity transfers to estate upon death. https://www.fool.com/knowledge-center/are-lottery-annuity-payments-transferable.aspx

 

[Dtail]

Not rationalizing, but I honestly wonder if I'd be happy winning such a bonanza. I'd probably have to move just to get away from the money-seekers, then keep the new residence a secret, consider high level security needs, and Lord knows what else to consider.

Like everyone else, more money sounds nice to me, but winnings of this magnitude could easily be WAY too much and bring more grief than pleasure, in the long run. I would fear such a drastic lifestyle change, even if on the surface it seems "what could possibly go wrong?"

There are always many comments about security and 10k "new friends", etc.
I wonder if Gates and Buffett travel with security guards everywhere, etc?
Not a negative comment, just wondering aren't they more of a well known face recognition target and have much more wealth than the lottery winner?

 

[braumeister]

There are always many comments about security and 10k "new friends", etc.
I wonder if Gates and Buffett travel with security guards everywhere, etc?
Not a negative comment, just wondering aren't they more of a well known face recognition target and have much more wealth than the lottery winner?

I don't know about Buffett but Gates has a large security detail.