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If you won the Lottery!
Johannen
Registered User regular
Registered User regular
Hey all,
what would you do if you won the Lottery?
Say £80,000,000 ($160,000,000)... Would you quit school and never work again? Would you invest or spluge it all on videogames, or hookers, or beer and videogames and hookers?
Do you think winning the Lottery would make you a better person or a worse one? Would you give to charity or to your family?
I think that if I won 80mil (£), i'd give 10mil to my parents, 5mil to each brother (I have two), 5mil split between my Auntie, Uncle, cousins and Grandmother on one side of the family, and the same on the other.
I'd have 50mil left which i'd give 5 of to a charity, or maybe a few charities. Then i'd stick 35mil into savings and investments, and basically live off the interest, and use the 10mil left to buy whatever I wanted.
Say a house, some cars, some shit for my friends and just basically anything that took my fancy.
So, what about ya'll?
what would you do if you won the Lottery?
Say £80,000,000 ($160,000,000)... Would you quit school and never work again? Would you invest or spluge it all on videogames, or hookers, or beer and videogames and hookers?
Do you think winning the Lottery would make you a better person or a worse one? Would you give to charity or to your family?
I think that if I won 80mil (£), i'd give 10mil to my parents, 5mil to each brother (I have two), 5mil split between my Auntie, Uncle, cousins and Grandmother on one side of the family, and the same on the other.
I'd have 50mil left which i'd give 5 of to a charity, or maybe a few charities. Then i'd stick 35mil into savings and investments, and basically live off the interest, and use the 10mil left to buy whatever I wanted.
Say a house, some cars, some shit for my friends and just basically anything that took my fancy.
So, what about ya'll?
Johannen on
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Theres only one thing I'd do, build a giant mansion filed with everything I could ever possibly want; garage with nice cars, a bowling alley, cinema, pool, all that kinda stuff. Plus obviously make sure my family never have to lift a finger again if they don't want to.
But it'd make me a worse human being to everyone else because...well theyre greedy assholes and I'm rich and better than them. I mnight keep my job though for a while for something to do during the week.
And the hell of it is, almost nobody ever does the annuity. Look at this page of Powerball winners since 2003. It shows how they all decided to go: Two took the annuity. Two took a mixed payment (these were both pools of winners). Everyone else- 60 winners- went lump sum.
I'd get a one room apartment and a bed, and I would sleep until I died.
Also I'd buy a panther.
And then, depending on how my funds were holding up, I'd get:
A) An offshore oil drilling platform. (I'm not entirely sure how expensive those actually are)
C) A tall building in a random major city that I can make my base of operations for whatever crazy business I decide to found. There would be a helicopter pad and some pretty hardcore awesome living quarters. And lots of computers. Maybe some dudes with guns and body armor standing near the elevators.
then I would invest it
I do plan on going to certain places that I would like to visit
But in short I would avoid the temption of making it known that I had large ammounts of money
I'd build one of those green houses.
So? A ton of people don't earn their fortunes, they are born into it.
I'd invest almost all of it, after setting my parent, brother and best friend up with a million each probably.
Then I'd probably spend most of my time just pursuing what interest me but I don't have time for right now in my life. Traveling, martial arts, videogames, hanging out. I'd definitely drop all my classes at school, and just take random ones that interest me, as the pursuit of knowledge is great.
I'd finally be able to buy and finish a warhammer army.
There's not much money in it, even once you get to the top. Unless you're at the top of the world, and you'd take a big risk by sacrificing a career to try and get there.
:^:
Man, I have no fucking idea what I'd do with like $60M (which is all you'd get to keep of $160M after taxes and what not).
I'd like to think I'd be smart. Buy a moderately expensive (less than $1M) house outright...yes, I realize that financially buying outright is generally a poor decision...but I don't want to fuck with it. Drop a couple hundred thousand on cars for me and the wife. Drop another couple/few hundred thousand on a boat/yacht. Figure a few hundred thousand to furnish the house (including....well, lets just say electronics).
And fuck, I'd still have like $50M+ left. Even assuming I give a couple/few million to my parents and the wife's, we're still talking like $40M. Invested relatively conservatively, it'd be easy to keep up with the taxes/upkeep on all the aforementioned toys and live a comfortable upper-middle to upper-class existence for the rest of my days without needing. to work at all. Though I'm sure I'd want to do something.
Seriously, unless you have a large family and large circle of friends fully of money-grubbing bastards, I don't see how you can fuck this up.
Then again, I imagine that when you've got tens of millions in the bank your circle of friends (and, hell, family...like Eminem says, "all of a sudden I've got 90-some cousins" or some such) would quickly swell...and just as quickly be populated with money-grubbing bastards.
So there's always option B. Pay off all debt, buy a modest house, cars, and boat outright (yeah, I'd like a boat), drop a million or so on everybody in the family and all my friends at the time of my winning, then party like a fucking rock star for a couple years until the shit runs out...and go on with my life as usual except with the bonus of being debt-free and having modest assets that I didn't have before.
That's not necessarily the case though. Not all states have lump sum payouts and even then there is trouble. There are many companies that will let you borrow money from them by signing over future installments. That's even worse IMHO, your spending money you don't even have.
http://www.thejournalnews.com/apps/pbcs.dll/article?AID=/20070129/NEWS05/701290336/1021/NEWS05
Forget borrowing, there are companies that will BUY your winnings outright.
http://www.fsgerard.com/sell_lottery_payment.asp
In the end, its about how smart you are with your money regardless of what you choose.
I'd take the lump sum myself, invest the vast majority of it. The investment of the larger sum up front would be more beneficial than small payouts over time. I would take about 10 to 15 percent though and blow through it with family and friends, positively sicken myself of money to the point I wouldn't want to mess with the rest.
You know, with a smaller payout (like $5M or so) I'd probably honestly want to get rid of it. I mean, a minority of it would go towards long-term investments or assets that I'd still have (such as buying a house, college funds for the kids, etc.) but really for the rest I'd almost just want to make it go away so people would leave me the fuck alone. With something insane like $60M you can afford to spread the wealth around and still be filthy rich yourself...with a smaller payout it's pretty easy for it to disappear into all the hands that go out, and it'd be easy to wind up pretty bitter about that. And if you didn't share it, your friends/family would wind up bitter. Yeah, you might say "fuck them," but they're still people you care about.
I don't know that it's really likely for somebody to fall bass-ackwards into a moderately but not obscenely large amount of money without having some pretty severe social consequences between them and their friends and family.
Finish law school.
Buy a decent condo in Boston.
Set up an annuity for my self as a safety net.
Invest a bunch.
Walk across the United States.
A small part of the money I would roll into the company that I work in.
I'd travel as I liked, and would be comfortable but not extravagant. Most of the money would stay in whatever funds and accounts make the most money until I retired, at which time I would start investing it into charity.
Don't get me started on people's whole 'you owe me' mentality, but you're right. That's going to change any relationship, family or otherwise. I'm a pretty generous guy, but realistic. I'd set up my immediate family pretty well, extended would be given a fair share too, but within limits and with a cutoff. 'Here's x amount of dollars to do what you want with but that's it.' If they blew it and came back for more, I'd just deal with the fallout.
Course I do have some relatives that resemble the brother in this story, so might spruce up security beforehand...
http://articles.moneycentral.msn.com/SavingandDebt/SaveMoney/8lotteryWinnersWhoLostTheirMillions.aspx
The way I would work it, if I only got a moderately large sum like 5 million, is I would help out the people in my family and circle of friends who really need the help, perhaps by paying for their kids' education, and then just buy really nice presents for a lot of them, say, $10k worth each.
That way they don't get the idea that I'm going to let them just quit their jobs and give them all the money, I haven't ignored them, but the bulk of the enjoyment of the money still rests with me...ie...I'd be driving an Audi R8, and such.
How do you successfully sue someone for a share of THEIR lottery winnings?
What POSSIBLE grounds could she have?
I'll edit this post after I read the article and see if it answers my question.
EDIT: No, it doesn't. Thoughts, anyone? what grounds could she have sued him for his winnings?
Well, and invest it in order to produce a viable pool of capital for a future business, or eventual retirement.
2) Finish college, because just because I won't have to work doesn't mean I want to be goddamn useless.
3) Take exactly two thirds of the lump sum and invest it in something nice and stable. Take the other third and buy a car and, well ... electronics, and put the rest of that third savings for buying a house when done with college.
4) Probably do volunteer open-source programming on my own time, or something.
I'm not joking.
I was waiting for this. I didn't want to be the one that did it.
Or I would spend it all on lotto tickets. Just to see, you know.
Yeah, this is pretty much where I'm coming from. Just start collecting degrees, and try to learn everything there is to know about everything.
Alternately, just get a couple PhD's and then teach.
This is a horrible, horrible idea.
Degrees in everything that matters, then build a secret underground lair hidden beneath the grounds of my estate.
Oh and I'd be buying all new camera equipment, but I wouldn't need millions for that.
Hey, if you won the lottery you did earn the money. You paid a buck to play a game with terrible odds.
That's about it really. I'd probably also hire a maid, or some such, to pick up a couple times a week and buy staples.
I'd probably buy Evo (probably around a 5 or so. Certainly not a X) and have a Sunbeam Tiger(technically a pimped Alpine with a body kit, really) built for me.
With money like that, generosity is one thing, but being stupid enough to agree to invest every little scheme your relatives come up with is quite another.
I'd of course pay off my loans and get myself a nice house and car. I'd probably quit my job, but only to finish school find a career that focuses more on simple daily satisfaction than making money. I'd still want to work, but I probably wouldn't work IT anymore.
My worry is that i'm still single, and when I meet a woman, the whole going through the process of trying to determine if they really likes me or just want their share of the cash, like Bud's girlfriend.
Enlist in Star Citizen! Citizenship must be earned!
Actually, if we take at face value what everyone's saying about slipping a few mil to close family and friends, every super-jackpot winner would mean a couple dozen 1-5m winners.