$800+ Million Lottery - What Would You Do If You Won?
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08-01-2016, 11:09 PM
RE: $800+ Million Lottery - What Would You Do If You Won?
(08-01-2016 09:05 PM)Bucky Ball Wrote:  
(08-01-2016 08:53 PM)Chas Wrote:  Before figuring out how to spend the $800,000,000, realize that it isn't $800,000,000. Weeping

Lump sum payout is ~495,000,000, federal taxes whittle it to about 375,000,000, and if you have state taxes you're down to about 350,000,000.

If you give any to family members, you pay as much as 39.5% of that in gift taxes.

It's hardly worth buying a ticket. Dodgy

You give it all away up front using a charitable trust of some sort. You get a tax deduction and the use of it.
http://bogutzandgordon.com/charitable-gi...ax-breaks/

...and pay those attorneys to manage the distribution. My cynicism warning knob just popped up like a Whack-a-mole.
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09-01-2016, 12:08 AM
RE: $800+ Million Lottery - What Would You Do If You Won?
(08-01-2016 11:09 PM)Fireball Wrote:  
(08-01-2016 09:05 PM)Bucky Ball Wrote:  You give it all away up front using a charitable trust of some sort. You get a tax deduction and the use of it.
http://bogutzandgordon.com/charitable-gi...ax-breaks/

...and pay those attorneys to manage the distribution. My cynicism warning knob just popped up like a Whack-a-mole.

Nope. They set it up, and you tell them you're the trustee, (or some accountant who's got a track record).

Insufferable know-it-all.Einstein God has a plan for us. Please stop screwing it up with your prayers.
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09-01-2016, 01:54 AM
RE: $800+ Million Lottery - What Would You Do If You Won?
I would retire from doing anything and play video games for the rest of my life.


My Youtube channel if anyone is interested.
https://www.youtube.com/channel/UCEkRdbq...rLEz-0jEHQ
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09-01-2016, 02:25 AM
RE: $800+ Million Lottery - What Would You Do If You Won?
What would I do if I won? Hmm... I'd quit working, move to a REALLY tiny town, get a legal name change in said tiny town, so the public record of my name change in two local newspapers would be read by almost no one, move again to the beach, without giving a forwarding address to my old landlord, and live modestly off of my fortune until I kick the bucket Cool

If we came from dust, then why is there still dust?
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09-01-2016, 02:50 AM
RE: $800+ Million Lottery - What Would You Do If You Won?
1. Possibly, leaning more towards yes.
2. Change my name, my address, play secret Santa for a little while to the people I care about the most, put a fuck ton of it away for growth, plan an estate, invest a bit of it to get my feet wet. DON'T TRUST ANYBODY FOR AT LEAST FIVE YEARS. For the personal stuff, I'd buy a good amount of property in various places, cars aren't a necessity, but I've always wanted a brand new Jeep Grand Cherokee and an Audi RS7. Buy tons of guitars and build a home studio somewhere. Pay off my family's debts.
3. I'd do my level best to not fuck it up, and make the money grow for my children's children's children. My life for a good while after winning would be planning and processing. A few personals here and there no doubt, but I'm not gonna be the guy to blow all of the money in ten years. At least I hope lol.

I think the fact that I'm so young and a minimalist will help me not do that. Hell I wouldn't know what to do with 800k at this point in my life, let alone 800 mil. I'd still buy ramen and Doritos. I'd most definitely spend the most money on guitars, music gear, and equipment.

Acceptance is a hell of a drug.
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09-01-2016, 05:11 AM
RE: $800+ Million Lottery - What Would You Do If You Won?
WIth that much I'd consider building a small community of less than 50 houses and inviting my friends to come live in luxury with me. I'd also give much away to family members.

I prefer fantasy, but I have to live in reality.
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09-01-2016, 05:25 AM
RE: $800+ Million Lottery - What Would You Do If You Won?
I work at the Endangered Wolf Center as a volunteer. They'd be getting new digs in a better location. Then we'd find a comfortable place to live and quietly enjoy life. My will would be simple, "my half goes to the wolves."
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09-01-2016, 09:50 AM
RE: $800+ Million Lottery - What Would You Do If You Won?
This is amazing. From Business Insider, lottery winner woes...

William "Bud" Post won $16.2 million in the Pennsylvania lottery in 1988 but was $1 million in debt within a year.

"I wish it never happened," Post said. "It was totally a nightmare."

A former girlfriend successfully sued him for a share of his winnings and his brother was arrested for hiring a hit man to kill him in the hopes that he'd inherit a share of the winnings.

After sinking money into various family businesses, Post sank into debt and spent time in jail for firing a gun over the head of a bill collector.

Bud now lives quietly on $450 a month and food stamps.


After taxes it was probably around 9 million. This guy goes through 9 million in one year. Blink He could have stuck it in the bank and lived modestly off the interest.

Shakespeare's Comedy of Errors.... on Donald J. Trump:

He is deformed, crooked, old, and sere,
Ill-fac’d, worse bodied, shapeless every where;
Vicious, ungentle, foolish, blunt, unkind,
Stigmatical in making, worse in mind.
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09-01-2016, 10:32 AM
RE: $800+ Million Lottery - What Would You Do If You Won?
There's a "reality" show entitled "The Lottery Changed My Life."

Never watched it.
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09-01-2016, 10:50 AM
RE: $800+ Million Lottery - What Would You Do If You Won?
Coincidentally the UK lottery jackpot is growing massive and last week stood at £50,000,000

Even though I have no evidence to back it up. I have wondered in the past if the lotteries are fixed. Every lottery ticket is logged and its number combinations are sent to the main database/system. Potentially the people running it could choose the best combination that pays out the least accumulatively over all winning combinations.

The first ever lottery held here had seven people win the jackpot and main prize. I am rubbish at working out odds so I have no idea what they would be for 7 people all successfully matching 6 numbers from 1-49.

http://home.bt.com/news/world-news/novem...3944492010

Bigger prize funds draw in more people, especially over here seeing as there has been a drop in people participating alongside the fact they have raised the cost of each ticket to £2

Anyway..... If I won the prize id give the vast majority of it away.

I feel so much, and yet I feel nothing.
I am a rock, I am the sky, the birds and the trees and everything beyond.
I am the wind, in the fields in which I roar. I am the water, in which I drown.
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