Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Do they really broadcast lottery winners out the world?
I couldn't name one lottery winner off the top of my head.
If you win the one of the top two or three biggest jackpots in the history of lotteries your name will be known to every computer hacker and identity thief in the world. Wikipedia even lists the winners' names.
Quote:
Originally Posted by jasper12
I would drive to a state, where you don't have to give your name to collect the winnings.
You have to abide by the rules of the state where the ticket was purchased. Most states require the name to be made public. Even if the winner creates an LLC to collect the funds (as every winner should), it will still be public info as to who owns the company.
Your new full time job will consist of two things: 1) protecting your money and 2) hiring people to help protect your money.
Your new hobbies will be divided up in two ways as well: 1) crushing people's dreams when they ask you for money and 2) caving in and writing checks to those who ask you for money.
If this sounds like a lot of work, do not fret. With this much money you will now have 2-3 more hours per day to work. How you ask? From the time you will spend tossing and turning in bed 365 days per year as you will never get a full 8 hours of sleep in again.
Last edited by Kestrel88; 05-18-2013 at 03:38 AM..
You just won Powerball Saturday night that might just hit 600 million! After you settle up with the tax man you will probably be left with 250 million.
What would you do?
Would you keep it quiet for as long as possible. You know the vultures will start circling when they find out your loaded.
Charity?
I think it is silly when people say that they will still work in their average 9-5. Really?
When I win I would start looking for a sweet house with a deep water salt water dock right out back, a multi car garage and a airport nearby where I can drive my Ferrari to so I can fly my biplane.
and of course travel to amazing places with my loved ones.
What would you do?
This would require that I actually purchase a lottery ticket, which I do not do.
Nonetheless, playing along....
What would I do?
After I "settle up with the tax man" and the money is in my bank account, and I have retained a lawyer and financial adviser, the first thing I would do is go home and laugh my ever loving ass off that I never have to work with or for any other backstabbing, manipulative, irritating clucking hens ever again.
Then? I would sleep. Yes, because I'm TIRED.
After that, I would go visit my financial adviser again, discuss things I would like to do and how I can possibly get the best return on investments.
After that, I would go searching for property, land, a lot of land, in the middle of nowhere. I would eventually buy some land and have a home built on it. It would also have numerous kennels built on it, it would have a couple of large areas fenced, I would have a few other buildings constructed, get everything completed, up to code, electricity, water, etc, etc and then, I would get a permit, get a board of Directors, retain a vet and apply for non profit status, get a van or two and open up my animal sanctuary.
As for the vultures, they can pound sand because not a one of them has done a damn thing for me when I needed help.
The take home amount on a lump sum payment after taxes is 47% of the posted jackpot prize. For states that have no income tax like Texas or Florida, the $600 million jackpot comes to $282 million. Same for states that do not tax lottery winnings like California. Take another 5-10% off of that if your your state taxes lottery winnings.
There's a $22mil difference in take home amounts between Georgia and Florida. New Yorkers will receive $21mil less than a New jersey winner.
As for what I'd do if I won, I'd start a few non-profits:
1) Guitar museum with the biggest collection of rare and celebrity owned instruments in the world. Unlike the Hard Rock Cafe though, patrons would be able to play the stuff. All profits would go to music lessons for kids. Pro's would exchange free use of the rare guitars with in-house jams/meet and greets. $10mil
2) Mortgage company that only lends to owner-occupied homes in thoroughly inspected and approved areas. Lower to middle class only. All revenues would be reinvested into future loans. $50mil
3) Land conservation in Florida, 50,000 acres or so, including various parks and summer camps for kids. $100mil
4) A thrift store chain that would eventually put Goodwill out of business. Same business model except people would be paid for their valuables. Plus clothes and household goods would actually be donated to those in need. Once at full strength all profits would go to free medical clinics. $100mil
That still leaves $20+mil to spread around to my family, friends, and global issues.
You just won Powerball Saturday night that might just hit 600 million! After you settle up with the tax man you will probably be left with 250 million.
What would you do?
Would you keep it quiet for as long as possible. You know the vultures will start circling when they find out your loaded.
Charity?
I think it is silly when people say that they will still work in their average 9-5. Really?
When I win I would start looking for a sweet house with a deep water salt water dock right out back, a multi car garage and a airport nearby where I can drive my Ferrari to so I can fly my biplane.
and of course travel to amazing places with my loved ones.
What would you do?
With $250 million dollars, I would purchase a mansion and a couple of cars. After that I would live on a spending budget limit of around $3 million dollars a year for the rest of my life.
After that, I would go searching for property, land, a lot of land, in the middle of nowhere...
I've always wanted to buy land and permanently deed it over to the township for use as open space, as either a park or a preserve. SO tired of the woods and fields that I drive by being eaten up by strip malls and developments.
Once I woke back up, I would pick myself up off of the floor and hire me a lawyer.. .
Seriously, I don't even know what I'd do. I can see myself buying a lot of land in a beautiful area - I'm not even sure where. I'd go shopping w/my family in NYC - buy a brand new wardrobe, including shoes, for everyone in my family. Maybe dh and I would hire tutors for the kids and do some world traveling? Donate money to their schools. Put a good portion of it towards helping wounded soldiers and their families, also people and their families affected by Alzheimer's disease, cancer....
600 MILLION! How on earth could a jackpot get so big? That's more $$$ than my mind can really comprehend.
Your forgetting one minor detail. If the cash payment is 320 million out of the 600 million total prize, this is BEFORE taxes. Figuring a 35% tax rate and you giving away 220 million, that leaves you with a 12 million dollar tax bill (after the IRS takes the other 100 million to pay your taxes) and no money to pay it. You probably should think about getting a financial adviser before making any decisions.
I meant I would keep 100 and give the other 120 away. I would do it prior to collecting by assigning a portion of the prize to each individual as if we all went in on the ticket together.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
.
