Win the Powerball, what would you change?

[Tekward]

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."

 

[Fedup]

I want to keep dreaming, so $2 is cheap.


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[spncity]

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.

 

[Walt34]

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.

 

[Fermion]

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.

 

[Walt34]

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.

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.

 

[RunningBum]

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.

You're a factor of 10 low. 3% is 13.5M.

 

[Walt34]

You're a factor of 10 low. 3% is 13.5M.

Dang decimal points keep jumping around.

 

[hnzw_rui]

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.

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.

 

[Fermion]

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.

 

[Theseus]

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.

 

[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.

 

[hnzw_rui]

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.

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.

 

[GravitySucks]

http://youtu.be/IvE84AGMWpE

And just waste the rest.

 

[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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[W2R]

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!

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.

 

[pb4uski]

Powerball winning numbers for 1/9/2016: 32-16-19-57-34 and Powerball 13

 

[Souschef]

Nothing! I bought 10 tickets and came out with zilch

 

[FI by 2024]

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.

I won the Powerball! (JUST the Powerball)
$4 will buy some paper plates!


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[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.

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.

 

[FI by 2024]

I won the Powerball! (JUST the Powerball)
$4 will buy some paper plates!

lol, this explains how little I know about Powerball. I had the Powerplay option, so I actually won $12! Paper plate (singular) for everyone!


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[antmary]

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.

 

[REWahoo]

Make an appointment with an HONEST financial adviser.
I'd hire an HONEST bookkeeper and housekeeper.

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?

 

[sanfanciscotreat]

I see three of twelve recent topics are on powerball.

Are we so shallow for so much attention to this topic?

 

[lem1955]

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.