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Old 01-26-2019, 06:20 PM
 
Location: Upstate NY
32,530 posts, read 9,616,446 times
Reputation: 30794

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Quote:
Originally Posted by hertfordshire View Post
There's good reason for not allowing anonymity ... transparency. People would be questioning the legitimacy of the lottery if they never actually saw winners.

No, that's not a good reason--that's their reason.

If 7 or 8 states allow individuals to claim the prize anonymously, they should all be able to do it. Those states are suffering no shortage of people willing to play, nor are their residents crying the blues about "lack of transparency."

Besides, if people claim it as a trust, their attorneys are the ones on TV. That happened once in this region, and no one knew--or cared-- who the hell the winner was.
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Old 01-26-2019, 06:36 PM
 
Location: Worcester MA
1,145 posts, read 214,089 times
Reputation: 1412
This truck driver will have no problems finding dates anymore.
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Old 01-26-2019, 06:48 PM
 
8,534 posts, read 4,257,391 times
Reputation: 29573
Quote:
Originally Posted by Delahanty View Post
Besides, if people claim it as a trust, their attorneys are the ones on TV. That happened once in this region, and no one knew--or cared-- who the hell the winner was.
Right. Because we've never heard of attorneys helping their clients do anything illegal.

Oh, wait ...
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Old 01-26-2019, 06:55 PM
 
Location: Kirkland, WA (Metro Seattle)
3,669 posts, read 2,984,674 times
Reputation: 6445
Quote:
Originally Posted by fluffythewondercat View Post
I feel sorry for him. I hope he has help to cope with this unexpected event. He'll have to change his phone number, move, get security because the beggars come out of the woodwork.

Winning a big prize is like having a target drawn on your back.
?

Not if you put a lawyer on-call, if not several, and stop answering your phone w/o a screening service of some kind, for first six months or so. More to it than that, in the details, but basically that's one way. No ghoul relatives, friends, press, other pests go near me w/o going through the lawyer(s) ....but I'd be in the wind for awhile by that time.

Point being no major financial decisions w/o consultation, put yourself on an allowance run from a law firm or brokerage (or several), plus a financial and tax advisory (or small team) in there as well. Personally, I'd double or triplicate the above at three entities, e.g. RBC in Seattle, Wetherby Assets in SF, and Signature Estate in LA. I'd play both ends against the middle with quarterly meetings on returns, obviously, and spread some risk around.

Very rapidly insulating yourself with at least one entity, if not a small team, is critical. I'd be on the phone to someone like that in hours, then probably take some flights pretty quickly to visit them in-person, if not in my town, and select (someone) to shield and counsel me, pronto!

If I kept my phone instead of using burners, which I probably would, I'd have all calls forwarded elsewhere. All of them, period. And I'd hole up at the Four Seasons Beverly Hills for a couple weeks, as in "immediately" until some of the malarkey was at least under control.

Pardon, enjoyed thinking that through... ...Guess my summary is, "immediate insulation from ghouls, vampires, and other parasites. Then, a short-term and mid-term plan to carefully control the spend. Long-term we'll leave to next year!"

I don't think the above is rocket science, but maybe I know myself well-enough, having inherited a pretty big pot-full and having NO difficulty getting rid of pests, but that's me. Did require changing my phone number, though, which is a drag. About three phone calls could start that process for even an unsophisticated person.
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Old 01-26-2019, 07:05 PM
 
Location: Honolulu, HI
5,362 posts, read 1,445,970 times
Reputation: 7650
Quote:
Originally Posted by hertfordshire View Post
Am I the only person who wouldn't buy a "new, bigger and better house"? I don't want a big house, even if I have a gajillion dollars. I mean, I would buy a house (because I'm in an apartment now), but I would still want a small place. The location is more important to me than having 18 bedrooms and 15-1/2 baths. I'm thinking a 2 bedroom cottage with a spectacular view.

But I also don't need a Maserati or Bentley or more car than I need. I would upgrade to something with heated seats and remote start. LOL!
You don't need a bigger awesome house, no. In fact, studies show many Americans with big houses don't even utilize most of the rooms. Basically, they're just wasting their money to say they have a big house.

However, you will need a house within a gated community, in a neighborhood of other millionaires so you can "blend in" or "hide in plain sight." Obviously, that may not be easy to do for a random black guy who shows up in the neighborhood, but I'd love to have a problem like that.

Me? I'm moving to Calabasas, California where I can blend in with all the rich people.
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Old 01-26-2019, 07:09 PM
 
Location: Kirkland, WA (Metro Seattle)
3,669 posts, read 2,984,674 times
Reputation: 6445
Quote:
Originally Posted by hertfordshire View Post
Am I the only person who wouldn't buy a "new, bigger and better house"? I don't want a big house, even if I have a gajillion dollars. I mean, I would buy a house (because I'm in an apartment now), but I would still want a small place. The location is more important to me than having 18 bedrooms and 15-1/2 baths. I'm thinking a 2 bedroom cottage with a spectacular view.

But I also don't need a Maserati or Bentley or more car than I need. I would upgrade to something with heated seats and remote start. LOL!
Might be surprised what you decide you "need" when you move from broke or Working Class to suddenly wealthy. Even if you ease yourself into it, and control the allocation of funds on splurges quite carefully preferably via an outside entity.

Glad you picked a couple class acts as automobiles, maybe a Granturismo and Continental GT as your Maserati and Bentley drive-arounds, respectively. Both are quite slick and the polar opposite of "vulgar," as is most anything from Aston Martin. You'd take one look at the current craptastic (whatever) and correctly conclude that you do not *need* to live that frugally any more, nor spend money like a king either. If heated seats and remote start currently seem like princely luxuries... brother, are you in for a surprise when you see what else a non-ghetto modern automobile will do.

Personally, I too would probably buy a modest place in two locations with views, winter and summer, and no more, probably not spending more than a couple million which doesn't go far as it used to. Again, if you don't need to put up with discomfort, you'll rapidly start making other decisions.

This is what I have found, cruising up the income ladder over decades. I have lived in situations when much younger whereby putting together a thousand bucks was a massive hurdle. And, driven craptastic cars that burned a quart of oil every thousand miles. I don't need to worry about these things anymore, so I upped my game. You probably would, too.
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Old 01-26-2019, 08:01 PM
 
Location: Podunk, IA
3,040 posts, read 1,394,793 times
Reputation: 3112
Quote:
Originally Posted by fluffythewondercat View Post
Until they see your smiling photo in the newspaper.

I don't think I can exaggerate the lengths to which some people will glom onto lottery winners with their sure-fire investment strategies, invention prototypes (just need $500k to get it manufactured) and hard-luck stories. And those aren't even your relatives.
It's still no problem...
I'd go on an around the world trip on a luxury liner (not a cruise ship) for a year first.
Then I'd move. By then the commotion will have died down.

When you have means, it's easy to get lost.

Last edited by eaton53; 01-26-2019 at 08:13 PM..
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Old 01-26-2019, 08:35 PM
 
13,785 posts, read 12,621,273 times
Reputation: 18738
They broadcast me on a commercial during the Superbowl for all I care, lol, I just want the money!
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Old 01-26-2019, 09:11 PM
 
1,643 posts, read 814,715 times
Reputation: 2204
Quote:
Originally Posted by hertfordshire View Post
Am I the only person who wouldn't buy a "new, bigger and better house"? I don't want a big house, even if I have a gajillion dollars. I mean, I would buy a house (because I'm in an apartment now), but I would still want a small place. The location is more important to me than having 18 bedrooms and 15-1/2 baths. I'm thinking a 2 bedroom cottage with a spectacular view.

But I also don't need a Maserati or Bentley or more car than I need. I would upgrade to something with heated seats and remote start. LOL!
I wouldn't want too big of a house. Instead, I'd buy a 3 bedroom house in an area with low crime where I'd want to live. I'd pay off my car and keep it. I'd also get a pick up truck, preferably a classic that's made of real metal. I'd be able to buy furniture and finally have a dresser instead of living out of storage totes and black trash bags. And a kitchen table with chairs would be nice. And maybe have living room furniture again. I lost almost all my furniture when I became homeless couple years ago. I'd go back to college for a degree in library science so I can work in a library again. I'd pay off all of my debt, including over $165k in student loans. The rest goes into investments and I'd live off the interest.
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Old 01-26-2019, 11:01 PM
 
Location: Central Illinois -
20,264 posts, read 13,704,406 times
Reputation: 13466
Quote:
Originally Posted by yspobo View Post
I wouldn't want too big of a house. Instead, I'd buy a 3 bedroom house in an area with low crime where I'd want to live. I'd pay off my car and keep it. I'd also get a pick up truck, preferably a classic that's made of real metal. I'd be able to buy furniture and finally have a dresser instead of living out of storage totes and black trash bags. And a kitchen table with chairs would be nice. And maybe have living room furniture again. I lost almost all my furniture when I became homeless couple years ago. I'd go back to college for a degree in library science so I can work in a library again. I'd pay off all of my debt, including over $165k in student loans. The rest goes into investments and I'd live off the interest.
Holy smokes, you have 165K in student loans? That's a ton of money to be in the hole for, you must have went to an expensive college! I hope your current state is trending up and you are no longer homeless.
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