Powerball, after multiple rollovers has hit 1 Billion dollars. If you win, how would you spend/invest it?
Powerball is up to 1 Billion. What would you do with the money?
- Thread starter CaptainBoogerBuns
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Kids and siblings would get a chunk. I'd put a chunk into trust for grandkids plus prepay all college expenses. Probably buy a huge LI policy in a trust to keep that much out of the federal estate tax system. Quit my job and move to a really nice place wherever I chose to live. Travel first class to a bunch of places I've always wanted to visit (Australia/New Zealand, Alps, Italy, Alaska, etc.). Make sure my kids and grandkids visited me a lot on my dime.
I wouldn't buy a 10k sq ft home or multiple homes or $350k automobile. None of those things have much meaning to me. I'd give a chunk to charity, also (almost forgot that). Take a bunch of tennis lessons and probably guitar and piano lessons, too. I think I'd be the Gajillionaire Next Door. Probably not a lot of things that scream 'MONEY' - just not my style. Would enjoy the hell out of life and make sure those I love could do so, also.
I wouldn't buy a 10k sq ft home or multiple homes or $350k automobile. None of those things have much meaning to me. I'd give a chunk to charity, also (almost forgot that). Take a bunch of tennis lessons and probably guitar and piano lessons, too. I think I'd be the Gajillionaire Next Door. Probably not a lot of things that scream 'MONEY' - just not my style. Would enjoy the hell out of life and make sure those I love could do so, also.
Can't believe some of the usuals haven't said they pay the buyout to get rid of Calipari. 
Give most of it away. Thats the true joy of having crazy money, you can do so much good with it.
I'd like to think I'd be mature enough to know how to handle winning the lottery but in reality, I hope I never do. (I don't play, so this is not an issue.)
The odds of winning the lottery absolutely ruining your life are astronomical. You are almost certainly going to live a better life if you do not win the lottery and you are statistically better off taking any money you spend on lottery tickets and putting it toward the most generic index fund available to build wealth (or literally almost anything else).
If I was dictator for a day, I'd end the lottery immediately. That's some opiate for the masses nonsense.
The odds of winning the lottery absolutely ruining your life are astronomical. You are almost certainly going to live a better life if you do not win the lottery and you are statistically better off taking any money you spend on lottery tickets and putting it toward the most generic index fund available to build wealth (or literally almost anything else).
If I was dictator for a day, I'd end the lottery immediately. That's some opiate for the masses nonsense.
Hookers and blow.
-- resident wise man.
-- resident wise man.
One big change here for me.. I ain't flying first class if I win a billion. Private jet. If I can't buy one, I'll just buy the trip on a private jet.
Walk to the plane on the air strip. If I'm a billionaire, I'm never dealing with airports and being packed into a plane ever again.
Every time the poweball goes over $1 billion, seems like someone from California wins it.
I have been eyeing a house in Carmel CA as a second home so trying to find an agent out there willing to write full price and contingent on me winning the Powerball. They want proof of funds so I have sent them a screenshot of the potential winnings. I have not heard back.
Only thing about private jets is they're much smaller than commercial and probably more likely to have problems. Just my fear talking, probably not statistically accurate. But I've got 100s of millions of dollars - who cares about accuracy?
That kind of money requires a lot of preparation and yes, lawyers. Don’t sign the ticket until you reach your lotto headquarters but take pics of it front and back and take it your bank safe deposit box until you have everything lined up. Lawyers, email change, personal security, wealth management team, almost forgot, tax lawyers ! Then you are good to go but stay in the continental United States for a few years and live however you want and have a personal physician on retainer if you please 
Pay off all debts.
Pay off my parents’ debt
Buy a nice chunk of land and build a modest home on it.
Trade in both of my vehicles for new ones. Travel.
Invest several million in various portfolios. Donate a couple million to my favorite charities.
Pay off my parents’ debt
Buy a nice chunk of land and build a modest home on it.
Trade in both of my vehicles for new ones. Travel.
Invest several million in various portfolios. Donate a couple million to my favorite charities.
It was won by a surgeon in los angeles. At least that's what the clerk at the store where we waste our money on them told me
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You shouldn't chase money as an obsession or make the lottery a priority, but I don't see a downside in winning an insane amount. Immediately get off social media, learn to say no, give a chunk (or if you really think your life would actually be worse off, most of) the winnings to several charities, and have some fun for the rest of your life.
I'd quit my job, and I'd definitely use some of the money to make some improvements to my home county (mainly stuff that benefits kids, old people, and animals), but I'd give most of it away to friends, family, and people in need. I could *easily* live the rest of my life on a few million dollars. I'd travel once or twice a year, but I wouldn't buy anything expensive (no new house or car or anything like that -- I like the ones I already have) except for a handful of comics that I want but can't afford, like a high-grade Mirage Teenage Mutant Ninja Turtles 1.
First thing I do is tell everyone who ever told me to "Put your money where your mouth is" to suck it as I make it rain $100 bills.
Maybe it was an just starting out resident or something....I'd feel slightly better then....they're at least poor coming out of school.
Knowing the luck though it was probably a plastic surgeon
I'd probably go against the grain and give chunks of money to close family members. And friends. Parents get hooked up. Aunts and uncles get $100k, friends get $50k and down from there. I'd like to help my circle out, while also saying "this is it, never ask me again".
I'd put a lot back into a business. Maybe even the way the Kardashians do it. Just hire experts to make a business line and profit. Youre judt there to invest the money and make some decisions on the brand name (i swear, not trying to hate on them, but that seems to be all they do on their show). Id also continue to buy rental property and maybe commercial property for this very reason.. maybe be a silent partner in a resort bar.. Keep that Billion growing.
I'd then get a couple homes in areas I really like. Big lake/ski house in the ADKs, something in the Bahamas, maybe something in Europe. Some nice toys and cars (but no need for something that's like 3 million). Maybe buy a few other vacation homes in other areas, like a ski house in Colorado, that I purposely rent out half the time.
I'd then never do busy work again. Hire people for that. My lawns, child care, house cleaner, maybe even butler type staff. I'd take some vacations (aside from trips to my various homes) but I think I'd mostly just cycle between my spots and enjoy life. For other work, maybe just work on my businesses.. maybe guest bartend at times just for fun..
I'd put a lot back into a business. Maybe even the way the Kardashians do it. Just hire experts to make a business line and profit. Youre judt there to invest the money and make some decisions on the brand name (i swear, not trying to hate on them, but that seems to be all they do on their show). Id also continue to buy rental property and maybe commercial property for this very reason.. maybe be a silent partner in a resort bar.. Keep that Billion growing.
I'd then get a couple homes in areas I really like. Big lake/ski house in the ADKs, something in the Bahamas, maybe something in Europe. Some nice toys and cars (but no need for something that's like 3 million). Maybe buy a few other vacation homes in other areas, like a ski house in Colorado, that I purposely rent out half the time.
I'd then never do busy work again. Hire people for that. My lawns, child care, house cleaner, maybe even butler type staff. I'd take some vacations (aside from trips to my various homes) but I think I'd mostly just cycle between my spots and enjoy life. For other work, maybe just work on my businesses.. maybe guest bartend at times just for fun..
As a socialist, shouldn't you just give it to the government?
Do you practice your comedy or does it just come naturally because you are absolutely hilarious
Invest
Get a NetJet membership or something like that. If it makes more sense to buy a jet, I would.
I dont think my parents or in-laws need any money but would allow them to use above jet to let them travel when we are not. I would pay off any debt my brother and his family or bro-in law and his family have.
Would buy multiple properties and never rent them out. Would be more of a pain and the money made from it would be pennies compared to what your interest and dividends would pay out. Would buy a house on the coast in Carmel, CA. A nice high rise condo in Chicago. An amazing beach house on the SC coast and a mountain home in Jackson Hole.
Would quit my job at the end of the year and my wife would as well.
Donate a large amount each year to animal shelters.
Have two CI memberships so I can agree and like everything I say.
Get a NetJet membership or something like that. If it makes more sense to buy a jet, I would.
I dont think my parents or in-laws need any money but would allow them to use above jet to let them travel when we are not. I would pay off any debt my brother and his family or bro-in law and his family have.
Would buy multiple properties and never rent them out. Would be more of a pain and the money made from it would be pennies compared to what your interest and dividends would pay out. Would buy a house on the coast in Carmel, CA. A nice high rise condo in Chicago. An amazing beach house on the SC coast and a mountain home in Jackson Hole.
Would quit my job at the end of the year and my wife would as well.
Donate a large amount each year to animal shelters.
Have two CI memberships so I can agree and like everything I say.
When the lottery was very new the couple across the street from my brother hit a nice one. Pleasure Ridge/Dixie Highway/Upper Hunters Trace area. I don't recall the exact amount, but very substantial. They were both JCPS bus drivers. They hit the lottery late summer and in an interview with the paper said they planned to keep their jobs, pay off their home, and maintain a modest a lifestyle. First snow, they were gone.
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----Poor guy could probably use the money.
A He/She/It in California will probably sue the winner for 2 billion because he made He/She/It feel bad.
I don't have the link handy, but the bankruptcy rate for lottery winners is shockingly high.
For the winner, my advice is: go build yourself a reputable advisory team. You'll need an atty, CPA, and financial advisor... at a minimum.
Then, if you have kids, plan on having them become attys, CPA's, and fin'l advisors lol... set up their 529's.
For the winner, my advice is: go build yourself a reputable advisory team. You'll need an atty, CPA, and financial advisor... at a minimum.
Then, if you have kids, plan on having them become attys, CPA's, and fin'l advisors lol... set up their 529's.
Never once claimed to be a socialist but regardless, do you all have to turn EVERY thread political? Is it impossible to just let a random thread be a random thread?
People don't realize that without income, that money won't last forever. Couple that with people buying giant houses not realizing what property taxes and heating bills will be compared to where they currently live.
Hire someone to clear the junk out of our basement.
Get a “tiny house” and surround it with a tall, diamond-encrusted electric fence.