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1.6 Billion Mega Millions

J

jameslee32

Heisman
Mar 26, 2009
33,643
22,325
0
WayneDougan said:
Wayne D's move would be:
  • Cash option
  • Diversify my portfolio to the nth degree
  • Have a series of age-related goals that I shoot for:
    • Late 30's - Become a very good skier / surfer
    • 40's - Become really good at mountain climbing
    • 50's - Become really good at golf
    • 60's - Become really good at fishing / hunting
Click to expand...
° 70's - Become really good at spending
 
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L

Lexie's Dad

All-Conference
Jan 12, 2003
9,700
4,095
0
Cawood86 said:
I thought 250K was the limit. Man, a person sure would have to do a lot of maneuvering with that kind of money.
Click to expand...
$250 k per deposited, per institution, per capacity of account ownership.

Single
Joint
Testamentary
Retirement

You could have $2 million reasonably easily in FDIC insurance per bank without much effort if you were married. If you have kids, even more.
 
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funKYcat75

funKYcat75

Heisman
Apr 10, 2008
32,290
40,723
112
From the last lottery thread (which I also did not win)

funKYcat75 said:
Mom and Dad get a house with no steps in it until they wrap things up
Kids get a cool million when they finish college
Hypothetical grandkids get college funds started.
Three churches I've been associated with get a couple hundred thou, and then never another dime
House on some beach, house on some lake, apartment in NYC just for kicks, house in Lex.
Tricked out pick up truck, sensible Cadillac sedan, and a golf cart.

that oughta hold me and the missus
Click to expand...
 
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C

Cawood86_rivals

Heisman
Feb 20, 2005
36,711
64,713
0
Lexie's Dad said:
$250 k per deposited, per institution, per capacity of account ownership.

Single
Joint
Testamentary
Retirement

You could have $2 million reasonably easily in FDIC insurance per bank without much effort if you were married. If you have kids, even more.
Click to expand...
That's means it's fully protected right? Good stuff sir.
 
funKYcat75

funKYcat75

Heisman
Apr 10, 2008
32,290
40,723
112
Played $10 last night.That's 5 plays, 6 numbers a piece. Got 1 (one) number correct out of 30.

It's a good thing I only play when it approaches a billion.
 
R

Ron Mehico

Heisman
Jan 4, 2008
15,473
33,054
0
Read an article about how the lottery generated 37 billion last year and how the average household spends 250 dollars a year on it. Considering I never play and most I know don’t that a small portion of the population spending probably about a grand a year on it. Somehow owning or running some type of gambling operation is by far the easiest money to be made, some people just can’t help themselves.
 
C

Chuckinden

All-American
Jun 12, 2006
18,974
5,868
0
Xception said:
The state can’t even pay benefits promised to their employees, how hell im supposed to believe they can pay me big dough for 30 years?
Click to expand...
The state doesn't pay you for 30 yrs. It's an annuity, probably through reinsurance of multiple companies and/or banks.
 
C

Chuckinden

All-American
Jun 12, 2006
18,974
5,868
0
Vandalayindustries said:
Under no circumstance do you not take the cash option. To even consider not taking it is 100% foolish.
Click to expand...
Disagree. Look at all the past winners the went broke in just a few years.

If my son were to win it, I would force him (at gunpoint if I had to) to take the 30 year payout.
 
G

Get Buckets

All-Conference
Nov 4, 2007
4,534
3,358
92
Chuckinden said:
Disagree. Look at all the past winners the went broke in just a few years.

If my son were to win it, I would force him (at gunpoint if I had to) to take the 30 year payout.
Click to expand...

He could always sell the annuity at a later date. That wouldn’t accomplish anything.
 
B

BigBlueDave_rivals76951

Heisman
May 30, 2009
4,019
18,396
0
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M

mktmaker

All-Conference
Jun 5, 2001
3,967
2,423
0
funKYcat75 said:
From the last lottery thread (which I also did not win)
Click to expand...

"Kids get a cool million when they graduate from college"

I think you crazy, boy!

I would recommend that you set up a trust that they get a measured amount as they mature.

In the beginning, the kids need a substantial down payment on a house...so they don't waste years of income on rent.

Let them earn their way.

I agree with Warren Buffet -- or maybe it was Jimmy Buffett -- "I want to give my kids enough that they can do anything they want. But not enough that they can do nothing."
 
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