One Billion Mega Dollar Questions:

[Tskware]

A. Would you take it all at once, or take the 30 year income stream?

B. Would you quit your job?

C. Would you move to another location?

D. Would you donate to charities and other worthy causes?

E. Name some crazy "ish" you would do with it?


My answers are

A. Minority view here, but 30 years (assuming it can be passed down to my kids if I die, otherwise, you bite the tax bullet all at once and take it now). You would get $33M or so immediately, then $33M every year for 29 years, so if you only live 2 more years, that is $100M right there. It would give you time to think about how to invest it, save a bunch of taxes on the front end, and plan the rest of your life. Plus, hell, I coudn't really spend $33M anyway without trying really really hard.

B. Of course, but my new job would be setting up a foundation or three and figuring out what to do with all the money over the next 20 or 30 years

C. No, but would definitely buy a couple of nice vacation homes, and several national golf club memberships.

D. Of course, who wouldn't? But first thing I would do is change my phone number, email, hell, maybe my entire identity.

E. Have to think about this one, throw a big damn party first, then go from there.

 

[TortElvisII]

A. Would you take it all at once, or take the 30 year income stream?

B. Would you quit your job?

C. Would you move to another location?

D. Would you donate to charities and other worthy causes?

E. Name some crazy "ish" you would do with it?


My answers are

A. Minority view here, but 30 years (assuming it can be passed down to my kids if I die, otherwise, you bite the tax bullet all at once and take it now). You would get $33M or so immediately, then $33M every year for 29 years, so if you only live 2 more years, that is $100M right there. It would give you time to think about how to invest it, save a bunch of taxes on the front end, and plan the rest of your life. Plus, hell, I coudn't really spend $33M anyway without trying really really hard.

B. Of course, but my new job would be setting up a foundation or three and figuring out what to do with all the money over the next 20 or 30 years

C. No, but would definitely buy a couple of nice vacation homes, and several national golf club memberships.

D. Of course, who wouldn't? But first thing I would do is change my phone number, email, hell, maybe my entire identity.

E. Have to think about this one, throw a big damn party first, then go from there.

Always take cash. I know a guy that knows a guy in Illinois that you can call if you have questions. Get the money now. State sent him IOU's instead of his 250k annual payout.

I am in a pool with many others so just helping others is crazy as I would get. Other than hooking up with women half my age. Not married so there.

They all need to have a certain Elizabeth Hurley ness to them.

 

[_Mav_]

Obligatory, but with a twist...

 

[GeraldV]

A. Would you take it all at once, or take the 30 year income stream?

B. Would you quit your job?

C. Would you move to another location?

D. Would you donate to charities and other worthy causes?

E. Name some crazy "ish" you would do with it?


My answers are

A. Minority view here, but 30 years (assuming it can be passed down to my kids if I die, otherwise, you bite the tax bullet all at once and take it now). You would get $33M or so immediately, then $33M every year for 29 years, so if you only live 2 more years, that is $100M right there. It would give you time to think about how to invest it, save a bunch of taxes on the front end, and plan the rest of your life. Plus, hell, I coudn't really spend $33M anyway without trying really really hard.

B. Of course, but my new job would be setting up a foundation or three and figuring out what to do with all the money over the next 20 or 30 years

C. No, but would definitely buy a couple of nice vacation homes, and several national golf club memberships.

D. Of course, who wouldn't? But first thing I would do is change my phone number, email, hell, maybe my entire identity.

E. Have to think about this one, throw a big damn party first, then go from there.

A. Take the lump sum amount, no question.

B. I don't think I would quit, at least at first.

C. I wouldn't move, but I'd buy a vacation home somewhere.

D. I'd donate a large chunk to a bunch of local animal shelters that really need it.

E. I'm a nerd at heart, so I'd buy some comic art pages from Lee and Kirby and some of the others. Also, I'd buy a bunch of Star Wars crap that I had as a kid and threw away before I realized they'd be valuable.

 

[TortElvisII]

https://www.usamega.com/mega-millions/jackpotYour cash after taxes amount is listed by state.

Kentucky: 5% state tax- $1,708,333- $30,125,000Your average net per year: $19,853,712Your net payout:.

Cash after taxes lump. $349,487,045

After 30 year payments: $595,611,360

Also keep in mind if you take the 30 years that you start small and get big with time.

Not sure I can make it on 9 million a year.

https://www.usamega.com/mega-millions/jackpot/annuity/ky

 

[TortElvisII]

A. Take the lump sum amount, no question.

B. I don't think I would quit, at least at first.

C. I wouldn't move, but I'd buy a vacation home somewhere.

D. I'd donate a large chunk to a bunch of local animal shelters that really need it.

E. I'm a nerd at heart, so I'd buy some comic art pages from Lee and Kirby and some of the others. Also, I'd buy a bunch of Star Wars crap that I had as a kid and threw away before I realized they'd be valuable.

I would set up something like Dogtown or whatever it is called out in Utah.

 

[WildcatfaninOhio]

A - All at once

B - I would quit immediately

C - Likely! A year ago I found a “lottery dream house” near Charlotte NC. It’s still for sale. It would become mine.

D - I would donate to Cincinnati Children’s Hospital, and to The CdLS Foundation, in the name of my late infant son.

E - Easy (funny?) answer is hookers and blow. Not sure I’d do that. Probably get a couple insanely expensive cars. And take ridiculously expensive vacations.

 

[UKWildcats1987]

A. Would you take it all at once, or take the 30 year income stream?

B. Would you quit your job?

C. Would you move to another location?

D. Would you donate to charities and other worthy causes?

E. Name some crazy "ish" you would do with it?


My answers are

A. Minority view here, but 30 years (assuming it can be passed down to my kids if I die, otherwise, you bite the tax bullet all at once and take it now). You would get $33M or so immediately, then $33M every year for 29 years, so if you only live 2 more years, that is $100M right there. It would give you time to think about how to invest it, save a bunch of taxes on the front end, and plan the rest of your life. Plus, hell, I coudn't really spend $33M anyway without trying really really hard.

B. Of course, but my new job would be setting up a foundation or three and figuring out what to do with all the money over the next 20 or 30 years

C. No, but would definitely buy a couple of nice vacation homes, and several national golf club memberships.

D. Of course, who wouldn't? But first thing I would do is change my phone number, email, hell, maybe my entire identity.

E. Have to think about this one, throw a big damn party first, then go from there.

A. I would take it over the 30 so my future generations could benefit, assuming they allow it to be claimed by my son if I die in the next 30 years or less.
B. Absolutely I would, and I would spend all my time going on trips all over the world/cruises.
C. I would keep our house in TN, but I would get a home near the beach in Florida so we could use it to go to all the cruise ports down there. I am a big cruise lover and hate living so far from the nearest ports. If I lived in FL, I would have like 4-5 within 4-5 hours or less if we picked the middle of the state to live. I could also do the fancy/rich cruises and not be on Walmart (aka Carnival) cruise as my budget allows now.
D. Yes, I would donate to charities, especially those for children with health issues.
E. I would probably book a cruise around the world right out the gate and my family and I would just go to all these cool places over 4-6 months. I would get a nice rich person sports car...and probably just set my parents up in FL as well if they wanted so they can retire and live it up in a nice climate. I would do the same for my in laws...I suppose...because as you said 33 million is a lot go go around.

 

[J_Dee]

A. I'd take it all at once.

B. Yes.
C. No.
D. Yes.
E. Give most of it away.

 

[GeraldV]

I would set up something like Dogtown or whatever it is called out in Utah.

I've got a neighbor that donates to that place and goes out and visits and volunteers every year or two. Sounds like a neat operation.

I'm from Eastern KY, and I don't think there is anyplace in the world that needs more funding for their animal shelters and rescues than there. There just isn't enough money from the counties for nearly what they need.

 

[Catman100]

https://www.usamega.com/mega-millions/jackpotYour cash after taxes amount is listed by state.

Kentucky: 5% state tax- $1,708,333- $30,125,000Your average net per year: $19,853,712Your net payout:.

Cash after taxes lump. $349,487,045

After 30 year payments: $595,611,360

Also keep in mind if you take the 30 years that you start small and get big with time.

Not sure I can make it on 9 million a year.

https://www.usamega.com/mega-millions/jackpot/annuity/ky

Always wondered about this. So by taking the 30 year payments you get almost 250 million more? WOW

They always say a bird in the hand is better than 250 million in the bush, but that is a big difference.

 

[vhcat70]

Don't trust government. Take it all now. Buy gold ingots. Bury it all.

 

[TortElvisII]

Always wondered about this. So by taking the 30 year payments you get almost 250 million more? WOW

They always say a bird in the hand is better than 250 million in the bush, but that is a big difference.

Yes but it's going to take you a while to be super rich. And taxes may change in the future. You're probably better off with 350 million today than 600 million 30 years from now. In other words, you can invest and make that money if done properly. Or blow it all.

I have a brother that could win this and in 10 years be borrowing money from me.

 

[BlueRaider22]

A. Would you take it all at once, or take the 30 year income stream? Absolutely take the lump sum. Let's say that you took the lump sum with the current jackpot of $1.02 billion. After the initial tax hit and the increased taxes on your yearly income, you'd get roughly $380 million.

https://www.cnbc.com/2022/07/27/the...-now-1point02-billion-heres-the-tax-bill.html

The majority of this would be invested in assets......real estate, the market, etc. Soooo, let's say that you invested $300 million wisely in the market, you'd expect to double this sum about every 7-10 years on average. That means that in 30 years you'd have around $2.4 billion. And YOU have control. You aren't at the mercy at someone else's annuity.


B. Would you quit your job? Yes. But I would work in charities, foundations, passion projects.

C. Would you move to another location? Hard to say. I would certainly buy a LOT of land and move away from crowds. It's possible I could stay around here or move.

D. Would you donate to charities and other worthy causes? Absolutely. And I would set up my own. I've always had this dream about setting up a foundation where contributions go into the market.......then, the foundation uses a portion of the interest off the sum to do it's good. The idea is that over time the sum grows and grows......as does the charity pot.

I also have some passion projects that aren't charities that I would love to get into.

E. Name some crazy "ish" you would do with it? I can't imagine having that kind of money. I imagine I would do some stuff that would fairly crazy. I'm cautious and analytical by nature, but I could do something stupid like the occasional impulse buy. Let's say we're on vacation in Italy or something and we are having a marvelous time.....and we walk past a chateau for sale.....with this kind of money we may just say, "looks great, let's buy it."






Honestly, I think I'd be instantly paranoid. I think someone could win $10 million now-a-days and stay fairly unbothered by a good amount of people. But I'd be afraid that if I won $1.02 billion that someone would want to Lindberg my kids or something.

 

[BlueRaider22]

Always wondered about this. So by taking the 30 year payments you get almost 250 million more? WOW

They always say a bird in the hand is better than 250 million in the bush, but that is a big difference.

But if you take the lump sum up front and invest, you'd have way, way more. For instance, if you take the lump sum (roughly $380 million) and invest $300 million of it and don't touch it.....you'd have around $2.4 billion after 30 yrs.

 

[Catman100]

Yes but it's going to take you a while to be super rich. And taxes may change in the future. You're probably better off with 350 million today than 600 million 30 years from now. In other words, you can invest and make that money if done properly. Or blow at all.

I have a brother that could win this and in 10 years be borrowing money from me.

LMAO. Yea you think there is no way you can spend 3fiddy, but I imagine it can be done.

 

[willyclyde]

Idk, but Kentucky would have a helluva recruiting class in basketball and football for years to come.
Also, How much is Cal’s buyout again?

 

[Glenn's Take]

I would be out of this country so fast people's head's would spin.

 

[Catman100]

And in KY, you would have to give your name right? I would much rather have anonymity. Moving away might be the safest option.

 

[Get Buckets]

And in KY, you would have to give your name right? I would much rather have anonymity. Moving away might be the safest option.

Couldn’t you pay someone to accept it?

 

[DSmith21]

Always wondered about this. So by taking the 30 year payments you get almost 250 million more? WOW

They always say a bird in the hand is better than 250 million in the bush, but that is a big difference.

That analysis seems to assume that you don't invest any of the lump sum payment and have tens of millions in earnings for each of those 30 years. I don't think that the real difference would be $250 million unless you spent most of the lump sum in the first few years.

To me you have to consider your age and health when determining whether to take the lump sum or not. If I were healthy and expected to live 30 years, I would take the annuity. I would also move to a no income tax state and get to keep an extra 5% of the payouts which I could then give away to worthy organizations.

 

[wildcatwelder_rivals]

Take the lump sum payment, no question there.


Hell yes I'd retire; the very moment I knew with 100% certainty I'd actually won I'd be emailing the chief and giving my immediate resignation.

I'd donate to St. Judes Hospital, and other such hospitals and organizations that help children. That would be my primary philanthropic causes. I have also thought it would just be an incredible feeling to just walk into a grocery store, try to identify someone who probably could use a helping hand, wait until they begin checking out and then anonymously pay for their groceries. I just think that would be an awesome thing to do a few times a month.


I'd buy a new truck, and a new bass boat for my son and myself. Obviously his college would all be paid for, as would be my niece and nephew's. I'd buy, or possibly build, a house that I wanted. It wouldn't be a "mansion" or anything because I don't need anything like that. Plus, I'd be on the road a hell of a lot travelling the country bass fishing so home would be more like a pit stop, lol.

I'd set up my family and my closest friends; the ones I know that would would do the same.


I guess the craziest thing I'd do is try to find a few oz's of some premo to take with me when I head to Alabama, Texas, Florida, etc. to enjoy while in my pursuit of fishing for Mr. Bass. I'm telling you, there's not much I enjoy more than being out on the lake just as the sun is beginning to rise, with a nice wake and bake going on, and casting a topwater out and waiting for that explosion as a big bass comes up and inhales it. Good times man, good times.

I would not move away, nor would I change my identity, but I would ensure my son and I are as safe as I can make us.


I haven't played the lottery in months, but I think I'll buy a ticket or two tonight. I hear the fish down at Lake Fork calling my name as I type......

 

[ukalum1988]

A. Would you take it all at once, or take the 30 year income stream?

B. Would you quit your job?

C. Would you move to another location?

D. Would you donate to charities and other worthy causes?

E. Name some crazy "ish" you would do with it?


My answers are

A. Minority view here, but 30 years (assuming it can be passed down to my kids if I die, otherwise, you bite the tax bullet all at once and take it now). You would get $33M or so immediately, then $33M every year for 29 years, so if you only live 2 more years, that is $100M right there. It would give you time to think about how to invest it, save a bunch of taxes on the front end, and plan the rest of your life. Plus, hell, I coudn't really spend $33M anyway without trying really really hard.

B. Of course, but my new job would be setting up a foundation or three and figuring out what to do with all the money over the next 20 or 30 years

C. No, but would definitely buy a couple of nice vacation homes, and several national golf club memberships.

D. Of course, who wouldn't? But first thing I would do is change my phone number, email, hell, maybe my entire identity.

E. Have to think about this one, throw a big damn party first, then go from there.

A. Lump sum.
B. Yes - not immediately, but within 6 months-1 year
C. Not sure. Would probably buy a second home somewhere(?)
D. Yes.
E. Rekindle my childhood hobby of coin collecting plus purchase fancy/antique cars.

 

[BigBlueFanGA]

Always wondered about this. So by taking the 30 year payments you get almost 250 million more? WOW

They always say a bird in the hand is better than 250 million in the bush, but that is a big difference.

No, it isnt. You arent taking into account the time value of money or the money growth you'd have thru investments. You take it all now, always.

 

[80 Proof]

A. Would you take it all at once, or take the 30 year income stream?

- All at once, taxes will be higher in the future.

B. Would you quit your job?

- I work for myself, so no.

C. Would you move to another location?

- I'd have multiple homes, but would keep the one im in now.

D. Would you donate to charities and other worthy causes?

- absolutely

E. Name some crazy "ish" you would do with it?

- Start a UK NIL collective, build a skyscraper in Lexington, buy the land off 64 near the river that has the ul billboard and tear it down

 

[Ron Mehico]

No, it isnt. You arent taking into account the time value of money or the money growth you'd have thru investments. You take it all now, always.

I’m sorry why can’t you invest if you’re taking it in annual payments again?

 

[Ron Mehico]

Also:

I would take the 30 year. Would be terrified of having all that money and accidentally blowing 100 million. Basically to protect myself the first 5 years of possible mistakes/screwups

I would quit immediately

I would buy a house on the Mediterranean and a couple other houses that I would vacation at

I would do lots of stupid and crazy stuff, hence the annual payments.

 

[Catman100]

I’m sorry why can’t you invest if you’re taking it in annual payments again?

Yup, and all those lump sum investments are all going to pan out awesomely? I think the last few months are proof that isn't always the case.

Not saying which one I prefer, but the 30 year plan guarantees you money every year for thirty years right? Technically, a lump sum, and poor investing could have you broke in ten years?

Still would love to have the problem of deciding which to use. Will definitely be buying tickets by Friday night....LOL

 

[Tskware]

A little off topic, but I am pretty sure I read that the really massive foundations, like Bill Gates, have a harder time than you might think giving vast sums away.

Not every charity can really handle or use $100M properly or effectively. For example, I do work for the YMCA of Cent Ky, and sure, we could use $10 or even $20M, but I honestly don't know what we could do with $100M or more. Don't have the staff to administer that kind of dough or the means to use it wisely.

That is why institutions like the Gates Foundation have a full cadre of staff and bean counters trying to figure out how to make sure all those billions are used for good causes.

 

[rudd1]

-pretty sure you can't pass it down when you die...therefore take the lump sum.

-never let the government manage your money...see Illinois example above.

-I'd build/furnish a house to my specs somewhere in cky. Set the kids up. Travel like crazy.

-i'd find something to do outside of my current industry to stay busy...I'd stop working in said industry as soon as the check cleared.

 

[cat_in_the_hat]

Always wondered about this. So by taking the 30 year payments you get almost 250 million more? WOW

They always say a bird in the hand is better than 250 million in the bush, but that is a big difference.

Yes, but that comparison is apples and oranges because it doesn't take into consideration the time value of money. If you take it up front you will be earning interest on that money so after 30 years you would have more than the initial payout. Which one is better after 30 years depends on what you can earn on the money over time.

 

[BlueRaider22]

I’m sorry why can’t you invest if you’re taking it in annual payments again?

You can, but in this case getting money in early always beats over time.....by a large margin.

 

[BlueRaider22]

Also:

I would take the 30 year. Would be terrified of having all that money and accidentally blowing 100 million. Basically to protect myself the first 5 years of possible mistakes/screwups

I would quit immediately

I would buy a house on the Mediterranean and a couple other houses that I would vacation at

I would do lots of stupid and crazy stuff, hence the annual payments.

You can also always lock up the money from yourself in various ways......but you'd have control of it to set it up the way you wanted.

 

[funKYcat75]

1. All at once. I read something that you should find the nearest metropolitan city, find a lawyer that you have no connections to, and have them set up a trust. Then the trust can accept the winnings. If that works in KY, that’s the way to go.

2. Oh yeah. I’m out. I love working at a school and teaching kids, but all the other stuff is wearing on my. Too bad I couldn’t go in middle fingers a-blazing at a “normal” job.

3. CKY will always be my home, but it might be a time for a change of scenery. Probably South Carolina with a beach place too. You wouldn’t know I was effing loaded, because I’m getting a little too old to worry about shiny things and giant houses. I’d just be the guy who has done well and can afford a few niceties here and there.

4. I have a connection to theee churches in the area. I’d help them pay off whatever is left on their mortgages or whatever. A going away gift. I’d research some good charities that would actually use the money the right way and throw them a few bucks. Probably finance a couple of marching bands I have connections to also.

5. Crazy stuff? Worlds biggest available TV. Tricked out Toyota truck or 4-Runner and a mf’n Caddy of some kind. House that’ll have room for kids and grandkids if they wanna come visit. And the biggest fluffiest most comfortable couch I could find.

 

[BlueRaider22]

Yup, and all those lump sum investments are all going to pan out awesomely? I think the last few months are proof that isn't always the case.

Not saying which one I prefer, but the 30 year plan guarantees you money every year for thirty years right? Technically, a lump sum, and poor investing could have you broke in ten years?

Still would love to have the problem of deciding which to use. Will definitely be buying tickets by Friday night....LOL

With the lump sum, you can set up annuities, trusts, etc yourself as well if you desire.

 

[BlueRaider22]

I just read that it takes about 4-6 wks to change your name legally on average. Could you change your name, accept your winnings, then change it back?

 

[TortElvisII]

I would be out of this country so fast people's head's would spin.

New Zealand?

I will alert the authorities.

 

[chroix]

I’d take it all right away and see how fast I could spend it all.

 

[Catman100]

I just read that it takes about 4-6 wks to change your name legally on average. Could you change your name, accept your winnings, then change it back?

Now that is another option I have always wondered about. Would also definitely have on a disguise and/or mask at the winners photo shoot......LOL

 

[Ukbrassowtipin]

"Wear a mask, they don't work because you'll still get it, but do it anyways, also I've ignored the science"