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What would you do with...ONE BILLION DOLLARS?

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    Houk the NamebringerHouk the Namebringer Nipples The EchidnaRegistered User regular
    Only a fool would take the payments and not the lump sum.

    Because inflation means you're getting less money each year whereas your lump sum just buys less down the road, you know, assuming the jackpot just doesn't quite last you

    And even then, assuming you do invest the lump sum, you should easily be able to compensate and far exceed that yearly total anyway.

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    Librarian's ghostLibrarian's ghost Librarian, Ghostbuster, and TimSpork Registered User regular
    I saw that James May Toy show.

    You do not want to live in a house made entirely out of Lego.

    (Switch Friend Code) SW-4910-9735-6014(PSN) timspork (Steam) timspork (XBox) Timspork


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    Goose!Goose! That's me, honey Show me the way home, honeyRegistered User regular
    I never even thought of that.

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    OwenashiOwenashi Registered User regular
    You know, if I did win and after family share-splitting and debt-paying, I think I'd probably buy a perfect reproduction of the General Lee. I know I'd probably get yelled at for having it but it was a big part of my early childhood and it'd be sweet to sit in it for even just a few minutes.

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    davidsdurionsdavidsdurions Your Trusty Meatshield Panhandle NebraskaRegistered User regular
    First off, I'd take this thread and do everything everyone has said.

    Second, the annuity payments increase by 5% every year to account for inflation/cost of living increases. The reason you would take the lump sum is that you think you can beat that increase plus the already raw dollar amount that is larger over the 29 years with your investments. Though reasonably possible, it is not guaranteed. It's so much money that I'd take the annuity and be just fine thank you very much.

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    ASimPersonASimPerson Cold... and hard.Registered User regular
    rhylith wrote: »
    Sorce wrote: »
    If anyone wants the official breakdown of how much money they'd get, here's the official site.

    The tax is only 25%? Seriously? I had guessed 35% and knocked off extra for state tax that doesn't exist (knew they don't have income tax but figured they'd have a lottery tax). That's just insane.

    Most things I've seen say you'd still owe federal taxes at the end of the year, they just only withhold 25% in advance.

    Note the top marginal rate for 2016 is 39.6%.

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    davidsdurionsdavidsdurions Your Trusty Meatshield Panhandle NebraskaRegistered User regular
    ASimPerson wrote: »
    rhylith wrote: »
    Sorce wrote: »
    If anyone wants the official breakdown of how much money they'd get, here's the official site.

    The tax is only 25%? Seriously? I had guessed 35% and knocked off extra for state tax that doesn't exist (knew they don't have income tax but figured they'd have a lottery tax). That's just insane.

    Most things I've seen say you'd still owe federal taxes at the end of the year, they just only withhold 25% in advance.

    Note the top marginal rate for 2016 is 39.6%.

    Hey, if one of you win, I'll do your taxes for you and find every loophole imagineable. For a modest fee.

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    ZonugalZonugal (He/Him) The Holiday Armadillo I'm Santa's representative for all the southern states. And Mexico!Registered User regular
    First off, I'd take this thread and do everything everyone has said.

    Ahahaha yes...

    Say goodbye to your insufferable New Mexico!

    Ross-Geller-Prime-Sig-A.jpg
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    Raijin QuickfootRaijin Quickfoot I'm your Huckleberry YOU'RE NO DAISYRegistered User, ClubPA regular
    One million is all I need. My family and I could buy a nice house, pay off our debt and I could finish school and teach.

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    BucketmanBucketman Call me SkraggRegistered User regular
    yeah I could do an unreasonable amount of things with just a million.

    YOU HEAR ME BREWSTER!

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    Raijin QuickfootRaijin Quickfoot I'm your Huckleberry YOU'RE NO DAISYRegistered User, ClubPA regular
    Don't get me wrong, I'd take a billion.

    But one measly million would make all of the difference in the world to my family.

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    Captain MarcusCaptain Marcus now arrives the hour of actionRegistered User regular
    edited January 2016
    1. Right after turning in the ticket at Lotto HQ, call Skadden Arps or DLA Piper and demand to speak with a partner in their Trusts/Estates division. Set up a $20 mil trust to help relatives with college educations, weddings, first houses, etc. $20 mil trust for friends. If someone distant third cousin gets pissy and tries to sue (and they will) they and their bus stop bench lawyer can try to shake down a partner at one of the world's most powerful law firms.

    2. Before leaving Lotto HQ arrange for personal security for myself and family through Pinkerton. The crazies are going to come out of the woodwork and they are going to come out fast. Leave Lotto HQ with personal security.

    3. Live in a big city that makes it possible to be an anonymous rich person, like New York or London.

    4. Invest the mass of my fortune in a series of low-fee index funds with the hope that I become a billionaire by the time I'm 60.

    5. Set up a foundation for basic research and a foundation for a free orchestra that tours the U.S.'s rural areas. Another foundation to purchase anti-worm drugs and mosquito nets for the Third World so I can help save the most lives possible.

    6. Purchase relatively modest amounts of land in the most beautiful areas of America. Perhaps 200 acres each or so (enough so that you can't hear the road/neighbors) with a small yet secure house tucked away on each.

    6. Breathe. Try to enjoy life as a newly minted member of the 1%, and reflect on the fact that I am now the head of a dynasty. Perhaps enter politics later in life.

    I might have freaked out a bit Friday night after reading this Reddit post (which is where I got the first four list items). Rich man wins the lottery, decides to live on as if nothing had happened. He is now bankrupt, being sued in multiple lawsuits, and his granddaughter is dead, most likely the victim of murder.

    Captain Marcus on
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    ameybesameybes vvvv MERBERNRegistered User regular
    edited January 2016
    I think I'm pretty immune to a lot of those difficulties in that post because the trans has cut off ties from most of my family and I'm pretty shit at maintaining friends. Winning!

    ameybes on
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    JebusUDJebusUD Adventure! Candy IslandRegistered User regular
    Only a fool would take the payments and not the lump sum.

    Because inflation means you're getting less money each year whereas your lump sum just buys less down the road, you know, assuming the jackpot just doesn't quite last you

    It's actually adjusted a percentage for inflation according to the lottery website.

    and I wonder about my neighbors even though I don't have them
    but they're listening to every word I say
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    OwenashiOwenashi Registered User regular
    Don't get me wrong, I'd take a billion.

    But one measly million would make all of the difference in the world to my family.

    Heck, I'd be happy with the second or third place prizes. 2 million or 150K are still pretty good wins in my book.

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    Metzger MeisterMetzger Meister It Gets Worse before it gets any better.Registered User regular
    answer: WHATEVER THE HELL I WANTED, JUST LIKE ANY OTHER RICH PERSON

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    BrainleechBrainleech 機知に富んだコメントはここにあります Registered User regular
    Zonugal wrote: »
    First off, I'd take this thread and do everything everyone has said.

    Ahahaha yes...

    Say goodbye to your insufferable New Mexico!

    It's bonkers to know I would pay more Tax than Taxchusetts.

    Massachusetts: 5% State Tax - $2,333,333
    - $43,400,000
    Your average net per year: $32,666,667 Your net payout: $607,600,000
    After 30 payments: $980,000,010

    Vs

    New Mexico: 6% State Tax - $2,800,000
    - $52,080,000
    Your average net per year: $32,200,000 Your net payout: $598,920,000
    After 30 payments: $966,000,000


    Ha ha Texas
    Texas: No State Tax on Lottery Prizes!
    Your average net per year: $35,000,000 Your net payout: $651,000,000
    After 30 payments: $1,050,000,000



    Ooo I could go back to the land of regret and be bitter with money like a number of people there
    Wyoming: No State Tax on Lottery Prizes!
    Your average net per year: $35,000,000 Your net payout: $651,000,000
    After 30 payments: $1,050,000,000

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    tynictynic PICNIC BADASS Registered User, ClubPA regular
    Yeah that extra couple of mil is really gonna make the difference long-term.

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    EnlongEnlong Registered User regular
    1. Right after turning in the ticket at Lotto HQ, call Skadden Arps or DLA Piper and demand to speak with a partner in their Trusts/Estates division. Set up a $20 mil trust to help relatives with college educations, weddings, first houses, etc. $20 mil trust for friends. If someone distant third cousin gets pissy and tries to sue (and they will) they and their bus stop bench lawyer can try to shake down a partner at one of the world's most powerful law firms.

    2. Before leaving Lotto HQ arrange for personal security for myself and family through Pinkerton. The crazies are going to come out of the woodwork and they are going to come out fast. Leave Lotto HQ with personal security.

    3. Live in a big city that makes it possible to be an anonymous rich person, like New York or London.

    4. Invest the mass of my fortune in a series of low-fee index funds with the hope that I become a billionaire by the time I'm 60.

    5. Set up a foundation for basic research and a foundation for a free orchestra that tours the U.S.'s rural areas. Another foundation to purchase anti-worm drugs and mosquito nets for the Third World so I can help save the most lives possible.

    6. Purchase relatively modest amounts of land in the most beautiful areas of America. Perhaps 200 acres each or so (enough so that you can't hear the road/neighbors) with a small yet secure house tucked away on each.

    6. Breathe. Try to enjoy life as a newly minted member of the 1%, and reflect on the fact that I am now the head of a dynasty. Perhaps enter politics later in life.

    I might have freaked out a bit Friday night after reading this Reddit post (which is where I got the first four list items). Rich man wins the lottery, decides to live on as if nothing had happened. He is now bankrupt, being sued in multiple lawsuits, and his granddaughter is dead, most likely the victim of murder.

    Okay.

    After reading that, I think I'd burn or eat the ticket before anyone found out I'd pulled the winning one.

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    BrainleechBrainleech 機知に富んだコメントはここにあります Registered User regular
    Now I find it interesting you can meet the people from powerball to claim your ticket
    The problem I have is where would I do this? as it would be public like a restaurant maybe.
    They recommend a lawyer's office but still where?

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    BucketmanBucketman Call me SkraggRegistered User regular
    Yeah uh, do you even need to turn the ticket in. They have video footage of you buying the ticket.

    Wasn't there a movie about this? The guy won on a Friday but the lotto office was closed until Monday and everyone in town was trying to steal the ticket or kill him or both.

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    OwenashiOwenashi Registered User regular
    The winning ticket needs to be redeemed at a state's capital, right? That oughta make in-state flights interesting for the next few days.

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    EnlongEnlong Registered User regular
    Good point.

    Just never play lottery ever, then. Best way to avoid horrible death.

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    Al_watAl_wat Registered User regular
    super for real answer I would buy a cottage in the Rockies in alberta or BC and just have the best fucking life ever

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    BrainleechBrainleech 機知に富んだコメントはここにあります Registered User regular
    Al_wat wrote: »
    super for real answer I would buy a cottage in the Rockies in alberta or BC and just have the best fucking life ever

    So in Mordor?

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    Al_watAl_wat Registered User regular
    yeah but with more parties

    orcs welcome

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    Desert LeviathanDesert Leviathan Registered User regular
    First off, I'd take this thread and do everything everyone has said.

    Second, the annuity payments increase by 5% every year to account for inflation/cost of living increases. The reason you would take the lump sum is that you think you can beat that increase plus the already raw dollar amount that is larger over the 29 years with your investments. Though reasonably possible, it is not guaranteed. It's so much money that I'd take the annuity and be just fine thank you very much.

    Yeah, I'm fully confident in my ability to piss away the lump sum, and be broke forever. So I'd happily take the annuity, piss that away, and be broke for just a year at most.

    Realizing lately that I don't really trust or respect basically any of the moderators here. So, good luck with life, friends! Hit me up on Twitter @DesertLeviathan
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    Clint EastwoodClint Eastwood My baby's in there someplace She crawled right inRegistered User regular
    edited January 2016
    https://youtu.be/KlujizeNNQM?t=2m59s

    for real though i would buy a house with a pool

    Clint Eastwood on
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    ameybesameybes vvvv MERBERNRegistered User regular
    I would buy a pool with a houseboat

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    Al_watAl_wat Registered User regular
    I would buy a houseboat with a pool

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    davidsdurionsdavidsdurions Your Trusty Meatshield Panhandle NebraskaRegistered User regular
    I'd buy a poolhouse with a boat. All titanium, gold filigree and diamond encrusted. Carbon fibre and that fancy color shifting paint everywhere. Stuff like that.

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    OwenashiOwenashi Registered User regular
    First off, I'd take this thread and do everything everyone has said.

    Second, the annuity payments increase by 5% every year to account for inflation/cost of living increases. The reason you would take the lump sum is that you think you can beat that increase plus the already raw dollar amount that is larger over the 29 years with your investments. Though reasonably possible, it is not guaranteed. It's so much money that I'd take the annuity and be just fine thank you very much.

    Yeah, I'm fully confident in my ability to piss away the lump sum, and be broke forever. So I'd happily take the annuity, piss that away, and be broke for just a year at most.

    Ditto. That's why my preferred scratch-off are those '$(number) A Week For Life' types.

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    AphostileAphostile San Francisco, CARegistered User regular
    Ok so actual plan time:

    I'd put enough into reliable investments to pull ~300k dependably per year to live on and not touch the base. This is the money I use for daily expenses and travel.

    Another portion is given to family. 10-15% I'd say? In trust form and not cash.

    A good 30-40% in solid investments and untouched for decades. That just grows.

    The rest? That's buying me houses/condos in every city I love along with the best security crazy money can buy. I'm imagining 20-25 cities/places.

    Nothing. Matters.
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    SCREECH OF THE FARGSCREECH OF THE FARG #1 PARROTHEAD margaritavilleRegistered User regular
    really nice house on the intercostal, and jet skis

    gcum67ktu9e4.pngimg
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    ameybesameybes vvvv MERBERNRegistered User regular
    Aphostile, you are going to have mad upkeep on all those properties, tax payable all over the place, security, rates, utilities all draining, for places that you are at for two weeks a year each.

    Are you really too good for luxury hotels?

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    MeldingMelding Registered User regular
    answer: WHATEVER THE HELL I WANTED, JUST LIKE ANY OTHER RICH PERSON

    yeah but you'd be new money and that doesn't count for shit.

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    BrainleechBrainleech 機知に富んだコメントはここにあります Registered User regular
    I saw that James May Toy show.

    You do not want to live in a house made entirely out of Lego.

    I agree but going to the lego store with that amount of money is now just silly

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    ph blakeph blake Registered User regular
    edited January 2016
    First things first, I'd delete my twitter account. No one reads my shitposts now and I'd like to keep it that way. I'd nuke my facebook account too; I hardly use it as is.

    Then I'd do all that smart stuff like retain an estate lawyer, set up some trusts, treasury bonds, index funds, etc.

    Figure I have around 25% left this point to go nuts with; I guess I'd try and start a film company? Throw money at interesting people to make cool things.

    Oh yeah, I'd hire the best architect I could find to build an awesome house in the Austin hill country and then buy a fun driving car or two to take advantage of those roads. That area is beautiful and I've wanted to live there pretty much all my life.

    ph blake on
    7h8wnycre6vs.png
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    AphostileAphostile San Francisco, CARegistered User regular
    ameybes wrote: »
    Aphostile, you are going to have mad upkeep on all those properties, tax payable all over the place, security, rates, utilities all draining, for places that you are at for two weeks a year each.

    Are you really too good for luxury hotels?

    Hmm, true. Smart point.

    I could also up the amount in the general spending money investments to offset costs, but just rolling into the Ritz all the time is pretty damn easy. Maybe even just spend a year or two in the best suite of a cruise ship going around the world.

    Nothing. Matters.
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    MeldingMelding Registered User regular
    Wizard tower in the mountains, with wifi.

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