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What would you do if you won Powerball? (1 Viewer)

I'd buy the house nest to Chet, and walk around the yard with a dirty wife-beater on, drinking 40's and listening to Kid Rock and every time he drove by, I'd throw out my arms and scream "you think you're better than me?!?!"

 
ProstheticRGK said:
I'd buy the house nest to Chet, and walk around the yard with a dirty wife-beater on, drinking 40's and listening to Kid Rock and every time he drove by, I'd throw out my arms and scream "you think you're better than me?!?!"
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I think you have to win Powerball twice for Chet neighborhood money.  Maybe start by moving next Otis...

ETA: You might be able to move next to Righetti if you get 5 of the numbers and are willing to take on a jumbo mortgage.  

 
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tommyboy said:
Blow $10 mil, put the rest in safe interest bearing situations. Live off the interest.
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PSA: FDIC insurance only covers you up to $250,000 for each account vesting relationship per financial institution.  You'll need to spread that money around far and wide.  

 
Cash option is $444 mm before tax. After tax, that would be about $290 mm.

Unfortunately it appears some Mass-hole bought the winning ticket.

 
OC Zed said:
Uggggghhhhhh
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I know.

It killed my daydream too. 

I never expect to win, but I do enjoy the distraction of daydreaming about it.

My daydreams were simple though: quit my job, pay off the house, get involved in some fun hobbies, do some travel, and give away a lot of the money by doing things like endowing scholarships and so on.

 
Limp Ditka said:
Such a shame. I was really rooting for you too. 
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I was going to take all the 4-digit FBGs to Hawaii all expenses paid.  It's our loss, GB.  Our loss.  

ETA: Oh, wait, member #s are a relic now?  I'd buy 2007 and relive it in all its 2-digit member glory.  

 
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Start a bigger fund nationally/worldly and get other rich guys and countries involved to save the rhinos, elephants and other equatorial animal life that is being overly hunted or lost.  Even get into sea-fisheries. 

Try to get the group to buy an island (like Cebaco  @ 3700 acres) and start making it a bigger island (like the chinese) and turn it into a Jurassic Cenozoic Park for wildlife. Buy some close mainland property to set up a port and do business.  Would obviously have to lobby to the world and countries (Panama, Columbia, et al.) to expand into the waters with island creation.

Hopefully it spreads to other climate regions eventually.

:shiny:

 
Earn a Pilot's license, buy a plane and a few houses. Travel.

Adopt a few more orphans. Hire a Nanny. 

Quit my job. Write about our adventures.

Could get on board with bigsteelthrill's sanctuary.

 
RedmondLonghorn said:
I know.

It killed my daydream too. 

I never expect to win, but I do enjoy the distraction of daydreaming about it.

My daydreams were simple though: quit my job, pay off the house, get involved in some fun hobbies, do some travel, and give away a lot of the money by doing things like endowing scholarships and so on.
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Was always part of my plan too.

 
About a week ago we won $50k in my office pool. We were one number off the jackpot. After taxes and splitting it 27 ways we all ended up with about $1300.  :banned:

 
Sinn Fein said:
Well, to be fair - the lump sum is quite a bit less than $700M....before taxes...
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The discount for the cash option is almost exactly the same as taxes. The combo is what really hurts, to the extent a reduction in free money that you aren't actually receiving can hurt.

 (1-0.36) x (1-0.35) = 0.416

 
Pay off all my bills. Pay off the bills of all my friends and family. Keep a few million to live comfortably, but not lavishly. Give the rest away. Seriously. What happens to most people that win big jackpots is not good. 

 
SHIZNITTTT said:
700 million down to 290 after the taxes.   Taxes suck
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Well that's with the cash option.  The reality is the lottery is an annuity so you are paying a huge fee to get all your money at once.  

The government has made out like a bandit with everyone choosing the cash option.  There's no question you'd get a better offer on the free market and claw back a few points.  

 
Never really thought about it so just spit balling here.

1. Get myself a toupee.

2. Add phrases like "fabulous" and "you wouldn't even believe it" to my lexicon.

3. Get one of those Orangey spray tans. Not around my eyes though...

4. Name multiple inferior products after myself and try to hock them.

5. Surround myself with Sycophants.

6. Run for office.

You know, rich guy stuff.

 
TheFanatic said:
Pay off all my bills. Pay off the bills of all my friends and family. Keep a few million to live comfortably, but not lavishly. Give the rest away. Seriously. What happens to most people that win big jackpots is not good. 
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Money will not cure stupid. In fact, it seems to aggravate the condition.

 
To be sure i use my good fortune to make the world a better place, i'd use the payoff to stage a prizefight between Mayweather and an ALS victim. It would empower those who've been debilitated in any way and give the fanboys & suckers (is there a dif?) something to waste their money & time on next year instead of the awful & boring suffering that goes on in this world. Sure, it might be a trifle uneven, but you never know.....

 
I lost.

When I win, I will take about $10-20 mill off the top to buy a nice house, pay for my kids school, pay off debts, and create a stable income stream.  I would put the rest into a 501(c)(3), hire me and several of my closest friends to be directors, and develop a process for giving away the income generated from the 501(c)(3) to worthy causes.  I'd live very well, surround myself with my closest friends, and have something meaningful to keep me engaged. 

 
culdeus said:
Well that's with the cash option.  The reality is the lottery is an annuity so you are paying a huge fee to get all your money at once.  

The government has made out like a bandit with everyone choosing the cash option.  There's no question you'd get a better offer on the free market and claw back a few points.  
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Well, $750 mm over 30 years is $25 mm per year. I think the final cash option value was $444 mm, so that means the discount rate they use is 3.8%, I think.

If you accepted the annuity stream and then sold it off, you would probably do a little better than that, but not "a few points" better, I don't think.

Since the odds of winning on a single ticket are only slightly better than having your name picked out of a giant hat that has every US resident's name in it, I think we both have already spent far too much time thinking about it.

 
I would honestly give most of it away to charitable causes and keep what I could live comfortably on for the rest of my life.  

 
Advice from Mark Cuban:

Hire a tax attorney first.

Don't take the lump sum. You don't want to blow it all in one spot.

If you weren't happy yesterday, you won't be happy tomorrow. It's money. It's not happiness.

If you were happy yesterday, you are going to be a lot happier tomorrow. It's money. Life gets easier when you don't have to worry about the bills.

Tell all your friends and relatives no. They will ask. Tell them no. If you are close to them, you already know who needs help and what they need. Feel free to help SOME, but talk to your accountant before you do anything and remember this, no one needs $1 million for anything. No one needs $100,000 for anything. Anyone who asks is not your friend.

You don't become a smart investor when you win the lottery. Don't make investments. You can put it in the bank and live comfortably. Forever. You will sleep a lot better knowing you won't lose money.

He also shared one last bonus tip with Business Insider: "Be nice. No one likes a mean billionaire. :)"

 
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