Actually, as old as I am I'd let my son claim it to avoid estate taxes for a longer period.
One Billion Mega Dollar Questions:
- Thread starter Tskware
- Start date
But you would invest the $20M over time, at the same interest rate as the initial $350M, at the end of 30 years, it really was not all that different.
If you assume a 6% return, the 350 doubles twice in 24 years, to $1.4B, and in six year would probably approach $2B (I used 7% in mine above), but if you invested $20M a year, for 30 years, at 6%, I believe you will see that it is not all that much different.
Hell, this is all fairy tale talk anyway, we are 99.999999% likely to be the same losers on Saturday AM as we are right now.
Maybe this is my ignorance showing but what do you initially do with a $350 million direct deposit(?)? Does it just sit in my Bank of Lexington checking account until I start investing it?
Apparently the big guidance is to take a very long trip where don't make any major purchases. Get used to having the money.
So if you won $350M, go rent a villa for $500K in Italy or something for a year, keep the purchases of any jewelry down to a minimum, and get used to being a rich guy.
So if you won $350M, go rent a villa for $500K in Italy or something for a year, keep the purchases of any jewelry down to a minimum, and get used to being a rich guy.
- A - 30 year
- B - yes, but I would do some volunteer work doing **** I want to do once everything gets settled down. Would like to volunteer at some historical sites or museums, do some stuff with the athletic teams at my alma mater
- C - I'd get a better house in the area, but I'm fine with the geography now
- D - What else would I do with it? I'm not going to have any descendants to give it to when I die, and I don't even know what the hell I would spend it all on
- E - probably get some of them Funko Pops I will never otherwise get that costs hundreds to thousands of dollars now.
I would say buy them a new house, but she has repeatedly in the past refused to use movers if they move so it would probably be better just to renovate/expand what they have now because I'm sure as **** not going to do all that moving all on my own.
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I am sure that is probably right, and the $340M lump sum is a little more than that, $1.8B, or close to $2B, but the payments give you plenty of time to plan and think about what you want to do.
But I think we can all agree, there is no wrong answer here, you will be stupid rich immediately either way.
If it hasn't been mentioned, you don't get 30 equal payments if you take that option. They start you with lower payments and increase the amount by 5% each year. I think it takes around 18 years to get the 1st half, and you get the other half the last 12 years.
| Year | Gross Payment | Federal Taxes | State Taxes | Net Payment |
| 1 | $16,556,579 | $6,088,889 | $827,829 | $9,639,861 |
| 2 | $17,384,408 | $6,395,186 | $869,220 | $10,120,001 |
| 3 | $18,253,628 | $6,716,797 | $912,681 | $10,624,149 |
| 4 | $19,166,310 | $7,054,490 | $958,315 | $11,153,505 |
| 5 | $20,124,624 | $7,409,066 | $1,006,231 | $11,709,327 |
| 6 | $21,130,856 | $7,781,372 | $1,056,543 | $12,292,941 |
| 7 | $22,187,399 | $8,172,293 | $1,109,370 | $12,905,737 |
| 8 | $23,296,769 | $8,582,760 | $1,164,838 | $13,549,171 |
| 9 | $24,461,608 | $9,013,750 | $1,223,080 | $14,224,777 |
| 10 | $25,684,688 | $9,466,289 | $1,284,234 | $14,934,164 |
| 11 | $26,968,922 | $9,941,456 | $1,348,446 | $15,679,020 |
| 12 | $28,317,368 | $10,440,381 | $1,415,868 | $16,461,119 |
| 13 | $29,733,237 | $10,964,253 | $1,486,662 | $17,282,322 |
| 14 | $31,219,899 | $11,514,317 | $1,560,995 | $18,144,586 |
| 15 | $32,780,893 | $12,091,885 | $1,639,045 | $19,049,963 |
| 16 | $34,419,938 | $12,698,332 | $1,720,997 | $20,000,609 |
| 17 | $36,140,935 | $13,335,101 | $1,807,047 | $20,998,787 |
| 18 | $37,947,982 | $14,003,708 | $1,897,399 | $22,046,874 |
| 19 | $39,845,380 | $14,705,746 | $1,992,269 | $23,147,366 |
| 20 | $41,837,650 | $15,442,885 | $2,091,882 | $24,302,882 |
| 21 | $43,929,532 | $16,216,882 | $2,196,477 | $25,516,173 |
| 22 | $46,126,009 | $17,029,578 | $2,306,300 | $26,790,130 |
| 23 | $48,432,309 | $17,882,909 | $2,421,615 | $28,127,784 |
| 24 | $50,853,924 | $18,778,907 | $2,542,696 | $29,532,321 |
| 25 | $53,396,620 | $19,719,704 | $2,669,831 | $31,007,085 |
| 26 | $56,066,452 | $20,707,542 | $2,803,323 | $32,555,587 |
| 27 | $58,869,775 | $21,744,772 | $2,943,489 | $34,181,514 |
| 28 | $61,813,263 | $22,833,862 | $3,090,663 | $35,888,737 |
| 29 | $64,903,926 | $23,977,408 | $3,245,196 | $37,681,322 |
| 30 | $68,149,123 | $25,178,130 | $3,407,456 | $39,563,536 |
| Total | $1,100,000,002 | $405,888,650 | $54,999,997 | $639,111,350 |
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Also I wouldn't buy what most would consider a mansion. I've seen houses around here for like $200-$300K that I'm like "wow, would love to live in that house." much more so than some mansion. What am I even going to do what all the space in a mansion? That would just be buying a bunch of space because I can, stupid.
Well, that idea seems pretty stupid on the surface.
I assume, if we dig deeper into that "guidance", those experts would advise you to rent that nice Italian villa AND GET USED TO HAVING MASSIVE COCAINE ORGIES WITH PREMIUM BROADS FOR ONE ENTIRE YEAR. YES??!!
The issue with the lump sum for me would be blowing a huge chunk in the first 5 years like a moron. How easy is it to get swindled by a Bernie Madoff when people who were born billionaires did? What if I just wanted it to be easy and I put 200 of the 300 million in a vanguard index fund and then we hit a crash and the market fell 15%? Oh cool I just lost 30 million in one day!
The annual payments make it so you literally can’t f*ck it up. I can’t be a moron and buy a 25 million dollar house in year 1 and then the housing market tanks. I can barely afford a mansion in San Francisco until like year 5, I actually have to think about it and save be forced to learn to invest. And I still can’t afford anything I want, meaning mentally it would be less of a shock and I would be more grounded.
Can you tell I dreamed I won the lottery last night?
The annual payments make it so you literally can’t f*ck it up. I can’t be a moron and buy a 25 million dollar house in year 1 and then the housing market tanks. I can barely afford a mansion in San Francisco until like year 5, I actually have to think about it and save be forced to learn to invest. And I still can’t afford anything I want, meaning mentally it would be less of a shock and I would be more grounded.
Can you tell I dreamed I won the lottery last night?
Yeah, they probably didn't factor the premium broads and blow factor. Lol. I think it's to get away from your relatives who are hitting you up for "great business ideas", plus rushing out and buying some overpriced mansion that you're not really happy with / don't know how to take care of. So the deal is to slow down and learn how to not be a moron.
That makes a lot of sense. Just sprinkle in some coke n whores, and you're all set to begin your wonderful rich life.
Here's the problem with that. Suppose you moved into a neighborhood of houses worth $275K and you were buds with your neighbors. If you made 8% interest in one year off of that $350M you had, you could outright buy 89 houses in your neighborhood - just with that one year's interest. And it wouldn't change your lifestyle one bit to do that. It would be one thing if nobody knew you were rich, but once people found out it would be tough to fit into the neighborhood.
I'm still amazed so many smart people didn't figure out Madoff was shady AF. Auditors matter.
A. All at once I think. Have several children/grandchildren to think of too. I'd want to share with them.
B. I would not quit, at least not immediately.
C. I would not move. I like where I am. I would add on to the house like a garage apartment and finish out the upstairs instead of just attic space. I would definitely have a house elsewhere, especially out west, like a ranch.
D. I would donate to charities and my home county/state.
E. Nothing too crazy, but I have two barns I'd love to fix up and make them cool and fancy with a livable loft type situation. Also I'd build a great work shop with everything tool and equipment wise I've ever wanted.
B. I would not quit, at least not immediately.
C. I would not move. I like where I am. I would add on to the house like a garage apartment and finish out the upstairs instead of just attic space. I would definitely have a house elsewhere, especially out west, like a ranch.
D. I would donate to charities and my home county/state.
E. Nothing too crazy, but I have two barns I'd love to fix up and make them cool and fancy with a livable loft type situation. Also I'd build a great work shop with everything tool and equipment wise I've ever wanted.
Every time the lottery gets this high and I buy a ticket I always search Zillow for million+ houses and one thing never changes. Rich people loooooove wallpaper, especially in bathrooms.
It’s called the powder room dipshit
Depends on where you live, but I'm with you on this one. I mean if you have the money, spend it however you want. But I'll never understand celebrities and billionaires with these gigantic houses that have 10 bedrooms and what not. WTF are you doing with all that space?
My brother has a super nice house outside Atlanta for his family. A little bigger than 'necessary' for a family of 4 but it is really nice and right by a golf course. My parents asked him why they didn't buy a bigger house and he just said "Well the bigger the house, the more crap you have to buy to furnish it"
and no my brother isn't a billionaire or lottery winner, just a dude that knows how to handle money. He got all of the dominant genes
Not really. I keep to myself. I couldn’t even tell you the name of a single neighbor I have now. I don’t even say hi if I see them unless they say it first.
**** I’d be happy with a two bedroom townhouse actually, just as long as the rooms are a decent size. As long as I have a kitchen, a full bath, a bedroom with plenty of closet space, some sort of living room, enough storage, and a place for some cats to chill (so I can sequester them when needed) then I’m good.
Anything more than that is just waste.
This. I can’t understand people who buy giant houses.
A. All at once
B. I would quit, because I'd be too distracted to get any work done. I would invest in the company that I work for and take a seat on the board of directors.
C. Stay in the area, but purchase some vaca houses
D. Yes, I'd donate some. Maybe St. Judes, animal shelter, cemetery where my daughter is burried
E. I may consider a large donation to a local hospital, but it would have several strings attached. I'd have a few dump trucks of **** dumped in the driveways of people that I don't like.
B. I would quit, because I'd be too distracted to get any work done. I would invest in the company that I work for and take a seat on the board of directors.
C. Stay in the area, but purchase some vaca houses
D. Yes, I'd donate some. Maybe St. Judes, animal shelter, cemetery where my daughter is burried
E. I may consider a large donation to a local hospital, but it would have several strings attached. I'd have a few dump trucks of **** dumped in the driveways of people that I don't like.
Just open your own Latte Larry’s, the original spite store. Teach Mocha joe a lesson!
lol that is just the best show. If I do open a coffee shop I'll make sure to make sure no ones privates are gonna knock over anything flammable.
Purchased two tickets today.
A. Lump sum.
B. No, not initially. Continue working until early 2023. My current director and co-workers are beyond awesome. I'd do everything possible to ensure their success until retirement. Definitely retire end of March, 2023 after purchasing 3 years of service.
C. Probably, but stay in ATX area at least a year, perhaps longer. Hire security. Remodel my mother's still unsold house in Middlesboro and give to my daughter. Split time between TX, KY, FL and Germany.
D. Certainly. ASPCA, animal rescue, UK athletics, UK scholarships, Texas State U scholarships, veterans organizations, American Stroke Association.
E. UK football and basketball season tickets. Travel. Fix my Harley. Invest at least $100 mil in quality, dividend paying equities and munis. Look into large stakes in publicly traded US corporations. Buy a Dodge Challenger Hellcat and transport to Germany for Autobahn adventures. Hit up all the Belgian Trappist breweries. Totally check out Scandinavia, Baltics, Poland, Hungary, Czech Republic, British Isles. Throw most lavish craft beer party mankind has ever imagined for co-workers and friends. Gifts to family and friends, including a few I know personally that post here. Visit Australia, New Zealand, Vietnam and South America for several months at a time. Journey into outer space on Bezos rocket.
Ah, yeah, one can only dream.
A. Lump sum.
B. No, not initially. Continue working until early 2023. My current director and co-workers are beyond awesome. I'd do everything possible to ensure their success until retirement. Definitely retire end of March, 2023 after purchasing 3 years of service.
C. Probably, but stay in ATX area at least a year, perhaps longer. Hire security. Remodel my mother's still unsold house in Middlesboro and give to my daughter. Split time between TX, KY, FL and Germany.
D. Certainly. ASPCA, animal rescue, UK athletics, UK scholarships, Texas State U scholarships, veterans organizations, American Stroke Association.
E. UK football and basketball season tickets. Travel. Fix my Harley. Invest at least $100 mil in quality, dividend paying equities and munis. Look into large stakes in publicly traded US corporations. Buy a Dodge Challenger Hellcat and transport to Germany for Autobahn adventures. Hit up all the Belgian Trappist breweries. Totally check out Scandinavia, Baltics, Poland, Hungary, Czech Republic, British Isles. Throw most lavish craft beer party mankind has ever imagined for co-workers and friends. Gifts to family and friends, including a few I know personally that post here. Visit Australia, New Zealand, Vietnam and South America for several months at a time. Journey into outer space on Bezos rocket.
Ah, yeah, one can only dream.
I looked at homes in Carmel CA last night. Figure I might be flying out there tomorrow morning and getting a membership at the private clubs around Pebble.
A. Lump
B. Not at first, would invest in company
C. Stay
D. Would probably invest in my hometown other parts of KY that need it. Maybe get a highway or school named after me because of it. Lol
E. Buy a racehorse, maybe a private island (you can actually purchase some of these very cheaply depending on where it is, if you want to develop it)
B. Not at first, would invest in company
C. Stay
D. Would probably invest in my hometown other parts of KY that need it. Maybe get a highway or school named after me because of it. Lol
E. Buy a racehorse, maybe a private island (you can actually purchase some of these very cheaply depending on where it is, if you want to develop it)
13 36 45 57 67 14
I won 2 big ones. 2 dollars.
Odd numbers maybe nobody hit.
I won 2 big ones. 2 dollars.
Odd numbers maybe nobody hit.
I respect the people who say they would continue to work, I just don’t believe them.
Did five quick picks and hit 1 number in total. Gambling is bad! But hey, had to take a shot once it got so high and don't regret it.
https://www.washingtonpost.com/nation/2022/07/29/raising-canes-mega-millions-lottery/
Though the probability of hitting the Mega Millions jackpot is notoriously lousy, the chief executives of Raising Cane’s are hedging their bets after buying lottery tickets for all 50,000 of their fast-food employees — for the second time in a week.
Though the probability of hitting the Mega Millions jackpot is notoriously lousy, the chief executives of Raising Cane’s are hedging their bets after buying lottery tickets for all 50,000 of their fast-food employees — for the second time in a week.