Powerball at $1.3 Billion...dreaming gets bigger

[MJ]

As I believe most of us a normal people, no one has mentioned personal security. If you are now worth $500 mil and the whole world knows it, that's a lot of potential ransom money, no matter where you go. First thing, on the to do list, hire a team of trustworthy and expensive bodyguards.

[hnzw_rui]

Quote:

Originally Posted by W2R This is 1.3 BILLION. It seems to me that all of the things you are mentioning (other than Fermion's space ship) could be bought with 100 million or less.

Only if taken as annuity. It's around $800M lump sum. After tax, probably more like $400-550M.

[Fermion]

If you buy 26 tickets for $52 and make sure to pick a different powerball on each ticket, then you actually only have $48 at risk since you are guaranteed a win of $4 for one of the powerball numbers.

The game is 7.6% cheaper than it seems to be :-)

[NW-Bound]

Quote:

Originally Posted by W2R ... It would probably be better for me to just leave well enough alone, and maybe just throw away that winning ticket and call it a night.

Quote:

Originally Posted by RunningBum Wouldn't that be a hoot! They'd know a winning number was drawn, and no one steps forward to claim it. Everyone would be talking about that. Meanwhile, you sit back and smile to yourself, happy your life was not ruined.

No, W2R should not throw the ticket away!

She should hang on to it, then when the claim period expires, goes on TV and while waving the ticket as proof, describes how she refused to let her life be ruined for $1.3B. That of course will bring her fame, but no danger will come with it because she does not have the prize money.

[W2R]

Quote:

Originally Posted by NW-Bound No, W2R should not throw the ticket away! She should hang on to it, then when the claim period expires, goes on TV and while waving the ticket as proof, describes how she refused to let her life be ruined for $1.3B. That of course will bring her fame, but no danger will come with it because she does not have the prize money.

I'm not sure the fame would be of the type anyone might want, though.

I could buy a mansion, give the rest to a charity, and then get an advertising firm to help me loudly trumpet the purchase of the mansion and soft-pedal that the other 99% had gone to charity. Once people were satisfied that I was spending enough, I'd quietly sell the house and move back into my dream house.

Nah, too much trouble. Maybe I'd just drop the ticket on the street and see if anybody finds it.

[Backdraft57]

I'm buying five tickets NW-B ;0)


Sent from my iPhone using Early Retirement Forum

[NW-Bound]

Good luck to you!

If you win the big one, may I trouble you for a favor?

No, nothing for me, but it's for the forum. You are new here, but it only takes a while to see that when people send you PM (private messages), the forum will only keep at most 200 messages. When the limit is reached, it forces you to select and delete some messages to free up some room. Every so often, I am forced to delete some messages, else my mail box is full and renders me incommunicado.

So, if you would make a modest donation to er.org, say $100K or so, that would allow the purchase of more disk space to keep more of members' PM. Then, every time someone looks at his mail box, he will remember your generosity. Thank you.

[Major Tom]

I'd be over the moon if I won anything up to about $1 - $1.5 million net. More than that, and I'd feel obliged to give some to friends and relatives. The main problem wouldn't be deciding how much to give, and to who - I could figure that one out. My main challenge would be what to do about those who are not good at handling money. There are one or two in particular who, if I gave them a lump sum, on top of not knowing what to do with it, I think there's a good chance they'd get themselves into trouble with tax liabilities. It's easy to say that it's their problem and not mine, but these are people I care about. I'd feel awful if I were instrumental in handing them a whole of financial trouble and stress. Frankly, I'd rather not give anything to anyone, but have extra money in my budget to be able to give gifts and treat people when I feel like it.

Charities are a different kettle of fish though. I'd love to be able to support my favorite animal rescue organizations with generous donations.

[Chuckanut]

As Everett Dirkson supposedly said "A billion here, a billion there, pretty soon you're talking real money."

[Walt34]

Like W2R, I'd probably end up giving most of it away to relatives, to charities, and maybe taking a luxury round-the-world cruise. That last one might be hard to talk DW into because she hates the idea of being on a cruise ship but perhaps if she's pampered enough.

Get my truck detailed for sure. Everything works on it so can't see buying a new one just for the sake of spending.

It's kind of hard to get my head wrapped around spending that much so I'm not sure what I'd do.

Oh, and new socks and underwear.

[Throwdownmyaceinthehole]

Not that I will have this to worry with, but can you give the unsigned ticket to a charity? Would they get the full untaxed amount? Then does it fall under the state laws of where it was bought or residence of winner?
Just getting ready if I do win!

[NW-Bound]

Quote:

Originally Posted by Walt34 Like W2R, I'd probably end up giving most of it away to relatives, to charities, and maybe taking a luxury round-the-world cruise. That last one might be hard to talk DW into because she hates the idea of being on a cruise ship but perhaps if she's pampered enough...

I have been on only 3 cruises, so do not know as much as other travelers, but the pampering I got was plenty for me.

I don't think I would be able to handle the attention that they may lavish on people who book their luxurious suites, the like you would get if you win that jackpot. I would have to tell them to leave me alone, and if I need anything I will let them know.

[aja8888]

If I won it, I would do this:

1. Immediately get a 900 phone number and charge callers $5.00/minute to call me and try to talk me into believing they are due some of the winnings. I would hire a stand in to take the calls, or just robotize it with *Rachel*.

2. I would buy the firm that has been trying to sell me annuities and fire all the salesmen.

3. I would buy an original 1965 Corvette Stingray like I had once upon a time.

4. I would buy my daughter a pony.

5. I would not buy a boat (had one once).

6. The remaining cash would be spent on hot cars and fast women (or is it the other way around?).

[JoeWras]

Quote:

Originally Posted by MJ As I believe most of us a normal people, no one has mentioned personal security. If you are now worth $500 mil and the whole world knows it, that's a lot of potential ransom money, no matter where you go. First thing, on the to do list, hire a team of trustworthy and expensive bodyguards.

Amen. I know EastWestGal mentioned lawsuits. Well, $500 mil will cover them. This is so much, lawsuits can be bought off no problem.

I'm worried about my life. About my kid's life. About my niece's life. Etc.

I'm not buying a ticket. I don't need this complication. I have a good life without that kind of target.

[GrayHare]

Quote:

Originally Posted by RunningBum Wouldn't that be a hoot! They'd know a winning number was drawn, and no one steps forward to claim it. Everyone would be talking about that. Meanwhile, you sit back and smile to yourself, happy your life was not ruined.

The Feds and state probably want you to file and pay taxes on the winnings, even if you don't convert your winning ticket into cash.

[NW-Bound]

Quote:

Originally Posted by GrayHare The Feds and state probably want you to file and pay taxes on the winnings, even if you don't convert your winning ticket into cash.

OMG! My earlier suggestion to W2R to hold on to her unclaimed winning ticket as proof would hurt her big time. She would just throw it away.

Better to destroy all evidence. She should send it to me to safeguard it instead.

PS. W2R never said why she would have a ticket on hand in the first place, if she would just throw it away. Oh no, she's throwing away Frank's tickets.

[splitwdw]

Quote:

Originally Posted by aja8888 If I won it, I would do this: 1. Immediately get a 900 phone number and charge callers $5.00/minute to call me and try to talk me into believing they are due some of the winnings. I would hire a stand in to take the calls, or just robotize it with *Rachel*.

This is priceless!

[Independent]

For this type of money, I think I'd have to give most of it away. I'd probably discover that the greatest need isn't in the US.

I expect the Gates Foundation would take the time to talk to me. Yes, I know the'd prefer to talk to the 400 Americans who have at least $1.7 billion, but I think I'd be worth a little of their time, even if I've only got $480 million after tax. I'd ask about the Buffett approach, just give the money to them. But, I think I'd rather be more involved. How about some projects that are small enough I could fund them directly?

And, of course, that's after I've bought my NetJets card that will get me to warm weather on short notice when lows are -2 and -6, which are the predictions for my Iowa location for tomorrow and Wednesday.

[aja8888]

Quote:

Originally Posted by Independent And, of course, that's after I've bought my NetJets card that will get me to warm weather on short notice when lows are -2 and -6, which are the predictions for my Iowa location for tomorrow and Wednesday.

Heck, with that much money, you could buy the Jets franchise!

[Independent]

Quote:

Originally Posted by aja8888 Heck, with that much money, you could buy the Jets franchise!

I assume you're talking about the NFL team. Forbes has it at $2.6 billion, so way out of my league at only $0.5 billion.