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So what do you buy with $1.6 billion? (1 Viewer)

I'd do all the same things that people have mentioned. House, car, family, travel, etc, etc. Then I'd like to "surprise" people all around the country with random acts of money. Pay off random peoples student loans, cover health care costs for people struggling, find out if those people begging for money on a street corner are really homeless. If they are, then I'd get them back on track with a place to live, a job, and a future. If they aren't really homeless and just panhandling for money, I'll pay someone to harass them mercilessly until they get a job and quit taking money that should go to someone else. I'd do it all anonymously. Just knowing other people will have a better life and watching from a distance would be very rewarding. 

I'd also like to reward those that are doing unselfish things already. Like the guy that goes from state to state mowing peoples lawns. He's probably happy every day, but everyone needs something that would make their life better. 

 
905m cash lump sum.

500m generational trust.

10m in-law family trust feeding them interest (they'd blow it all otherwise).

1m for my brother's kid.  1m to pay off brother's mortgage.  1m to my mom.

100m charity trust/fund.  Hire buddy that needs a job to run it.

2m ski condo.  2m hawaii/caribbean condo.

30m jet. 4-5m boat.

$252m remaining.... hmmm.  I guess live off interest? ~12m/year?

 
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comfortably numb said:
I'll be the guy to piss in everyone's cheerios. 

Winning a jackpot this big would probably be the worst thing that could happen for probably 90% of people. 

Probably more of a curse than a blessing.
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Yep.

The short wiki leaves out a lot of the story.  His wife left almost immediately.  Everyone and their brother hounded him for money.  And as stated in the wiki; after spoiling his granddaughter she is found dead, overdosed and/or murdered.  

ETA:  People might be able to save some family members, but, you won't have any friends...not really.  That's why after tying a bunch up in investments that can't be touched I'd give it all away and not change my lifestyle all that dramatically.

 
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tonydead said:
Yep.

The short wiki leaves out a lot of the story.  His wife left almost immediately.  Everyone and their brother hounded him for money.  And as stated in the wiki; after spoiling his granddaughter she is found dead, overdosed and/or murdered.  
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The carrying around 580 racks to strip clubs part doesn't show up on many lists here.

 
tonydead said:
Yep.

The short wiki leaves out a lot of the story.  His wife left almost immediately.  Everyone and their brother hounded him for money.  And as stated in the wiki; after spoiling his granddaughter she is found dead, overdosed and/or murdered.  

ETA:  People might be able to save some family members, but, you won't have any friends...not really.  That's why after tying a bunch up in investments that can't be touched I'd give it all away and not change my lifestyle all that dramatically.
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I'll take my chances.

 
Tom Servo said:
Me? The Cleveland Indians.
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it is kind of sobering to think that even if you were the sole winner of the jack pot, you would not have enough money by yourself to purchase the team.

Forbes has estimated that the Indians are valued at slightly north of $1b.

If you take the lump sum payment, after taxes you are going to have only about half of what you need.

===========================

https://turbotax.intuit.com/tax-tips/fun-facts/tallying-up-the-taxes-of-powerball-winnings/L7Phwt1yr

If you choose to take the lump sum payout, a $1.5 billion jackpot is really worth about $930 million. That’s because $930 million is the actual jackpot and the $1.5 billion is the calculated worth if you choose the annuity payment plan.

It works out something like this if you take the lump sum for the $930 million jackpot:

$930 million, less 25% withheld = $232,500,000

Less an additional $111,600,000 (to meet 37% tax rate)

Total prize after federal income tax = $585,900,000

 
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matuski said:
905m cash lump sum.

500m generational trust.

10m in-law family trust feeding them interest (they'd blow it all otherwise).

1m for my brother's kid.  1m to pay off brother's mortgage.  1m to my mom.

100m charity trust/fund.  Hire buddy that needs a job to run it.

2m ski condo.  2m hawaii/caribbean condo.

30m jet. 4-5m boat.

$252m remaining.... hmmm.  I guess live off interest? ~12m/year?
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You're already in IRS trouble

 
matuski said:
Yes, I have apparently misunderstood the cash out value my whole life.

I thought the 905m was the after tax number.
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1.6 is the Annuity number; 905 is the cash value of the Annuity.

You pay taxes on the 905 - Feds will withhold 25% off the top, but you will owe more on tax day.  State and local might also get a piece of the action, depending on where you live.

 
Sinn Fein said:
1.6 is the Annuity number; 905 is the cash value of the Annuity.

You pay taxes on the 905 - Feds will withhold 25% off the top, but you will owe more on tax day.  State and local might also get a piece of the action, depending on where you live.
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Got it now. TX so no state.. I has assumed (wrongly) that federal was already out of the 905.

eta - wouldn't stop any of my plans above, just a smaller generational trust.

 
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I’ve always wanted to start a nonprofit that teaches homeless/addicted/impoverished Americans job skills and works with organizations to get them entry level jobs to improve their lives. 

The rest on hookers and blow, obviously. 

 
I'd probably buy multiple properties and a jet. No more waiting in lines at the airport. The rest I'd put into interest bearing accts and trusts. 

 
Purchase 1: Hire “Nature Boy” Rick Flair to follow me everywhere and be my “Wooooo!!!!!” spokesman.

Purchase 2: A forklift (with good cupholders and a mini fridge) to drive around my neighborhood and just pick random #### up and move it. Probably a 50/50 split of benevolent lifting and “just because I can” lifting.

I have simple tastes. That would get me by for at least a month until I figured out what to really do. Probably get a bigger forklift.

 
Hopefully the winner was one of those people who posted on Facebook that they would share the winnings with whoever shared the picture of the winning lottery ticket.

Would be great for 7,976 people have to split 500m and get like 60k each and spend 48k in attorney fees.

 
South Carolina is one of the "anonymous" states.  Lucky person.  We might never know if the winner was a 90 year old about to kick the can or a 20 year old who's about to get on a bender.

 
comfortably numb said:
And....you just ruined 3 relationships taht were perfectly fine before this "blessing".

Hiring anyone you know when you're a billionaire....it will never end well.

I mean your FIL driver wants a raise.

Your paying him 150k a year but he wants 250k now.  You're a billionaire whats an extra 100k to you? 

Would never end well. Then your wife says "you gave that guy Otis on your football board 200k and you can't give my FIL 100k extra?"

Would never end well...
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Well, the 200K to Otis would be a back alley cash hand off deal done with no witnesses, she won't even know about that.

As for ruining the relationships, that's on them.  I'll make sure they are well taken care of.  I'm not going to be buying jets and houses and multiple expensive cars, so they shouldn't expect to either.

 
comfortably numb said:
I'll be the guy to piss in everyone's cheerios. 

Winning a jackpot this big would probably be the worst thing that could happen for probably 90% of people. 

Probably more of a curse than a blessing.
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To each their own, but I just don't see it.  I'm an extremely patient person and I also have no trouble telling people no.  I just don't see how this would be a negative on any level for me.  I'd also have no problem telling people I won and doing any interviews if people wanted it.  I trust myself and my judgement - the absolute worst-case scenario in this is either 1. somebody kidnaps me for ransom or 2. I lose it all being stupid and go back to what I do now (and I love my current life).  To me there's no downside  :shrug:

FTR, I didn't win.

 
AAABatteries said:
To each their own, but I just don't see it.  I'm an extremely patient person and I also have no trouble telling people no.  I just don't see how this would be a negative on any level for me.  I'd also have no problem telling people I won and doing any interviews if people wanted it.  I trust myself and my judgement - the absolute worst-case scenario in this is either 1. somebody kidnaps me for ransom or 2. I lose it all being stupid and go back to what I do now (and I love my current life).  To me there's no downside  :shrug:

FTR, I didn't win.
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Not sure how you can say there is no downside where the downside statistically is the x% amount of people you love in your life could possibly be dead or ruined because of the money they were given or feelings they had based on what or how you should have handled your new fortune. 

I'm with you in the i dont think money would change me. I know it would change others around me. Those changes could be very difficult to deal with.

You wouldn't have problems doing interviews but your wife may not like to be stopped at a Macy's department store changing room by a woman who has a new perfume line idea where she needs a small investment of 25k. 

Winning the lottery may not change you but it changes everyone around you.

 
comfortably numb said:
Not sure how you can say there is no downside where the downside statistically is the x% amount of people you love in your life could possibly be dead or ruined because of the money they were given or feelings they had based on what or how you should have handled your new fortune. 

I'm with you in the i dont think money would change me. I know it would change others around me. Those changes could be very difficult to deal with.

You wouldn't have problems doing interviews but your wife may not like to be stopped at a Macy's department store changing room by a woman who has a new perfume line idea where she needs a small investment of 25k. 

Winning the lottery may not change you but it changes everyone around you.
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:goodposting:   If it is just me, I wouldn't need to hide as much, but I'd do my best to project my wife and kids from the chaos.

 
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I think its impossible to predict how much that amount of money (injected into your life very quickly) could change you. But I can see how over time, it would just push you into other areas you never would have been otherwise. 

Yea, there will be chaos for about a year while you figure things out, do some things you never imagined, and got past the overall shock of it. But eventually the kids still need ot go to school, and no matter how rich you are, they still want to play sports and do all the things they did before 'their parents' won something. 

At some point, you prob bought a new, larger house, prob not in the same area you live now. So your day to day people you see will be different and have different conversations. Maybe they have their own level of wealth and can do things your original friends couldn't. As muh as I love my buddies, I cant call them up on an average Wednesday and say, "hey, lets swing down south to go deep sea fishing today on a boat i chartered"...but with the guy you met at the new country club mixer, you can.  

Over time, you may still keep in touch with your old friends, but you will be more involved with charitable events and galas that the old days of a spontaneous saturday BBQ and let the kids run around are long gone. Eventually, your old friends stick together and you start turning down more and more 'things' because you need to be elsewhere.....then they stop calling you all together. 

Your value of things drastically changes. Whereas before you struggled to keep 2 car payments, now if you wanted to you can get that new car just for fun. It clouds your old values of money and saving and sacrificing for something bigger. Now there really is no, "something bigger"

I'm not saying you wouldn't be happy and life wouldnt be amazing. But just thinking of how impossible it would be for this amount of money NOT to change you indirectly in some major ways. —that said, I'm willing to give it a shot!  you know, for research reasons!

 
glvsav37 said:
I think its impossible to predict how much that amount of money (injected into your life very quickly) could change you. But I can see how over time, it would just push you into other areas you never would have been otherwise. 

Yea, there will be chaos for about a year while you figure things out, do some things you never imagined, and got past the overall shock of it. But eventually the kids still need ot go to school, and no matter how rich you are, they still want to play sports and do all the things they did before 'their parents' won something. 

At some point, you prob bought a new, larger house, prob not in the same area you live now. So your day to day people you see will be different and have different conversations. Maybe they have their own level of wealth and can do things your original friends couldn't. As muh as I love my buddies, I cant call them up on an average Wednesday and say, "hey, lets swing down south to go deep sea fishing today on a boat i chartered"...but with the guy you met at the new country club mixer, you can.  

Over time, you may still keep in touch with your old friends, but you will be more involved with charitable events and galas that the old days of a spontaneous saturday BBQ and let the kids run around are long gone. Eventually, your old friends stick together and you start turning down more and more 'things' because you need to be elsewhere.....then they stop calling you all together. 

Your value of things drastically changes. Whereas before you struggled to keep 2 car payments, now if you wanted to you can get that new car just for fun. It clouds your old values of money and saving and sacrificing for something bigger. Now there really is no, "something bigger"

I'm not saying you wouldn't be happy and life wouldnt be amazing. But just thinking of how impossible it would be for this amount of money NOT to change you indirectly in some major ways. —that said, I'm willing to give it a shot!  you know, for research reasons!
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:goodposting:   Except the Bold.

 
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