If You Won the Lottery!

  • Posted by a hidden member.
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    Aug 26, 2009 5:59 AM GMT
    So as I was driving my friend home from work, our discussion turned to the Michigan Mega Millions, and how it is up to something like $252 million. We both played the what would you do with the money game, like many of us do if we were given a chance to win such a large sum of money! I know money may be the root to all evil, but it is fun to talk about having it, and what you would do with it all! icon_twisted.gif

    So what I want to know guys is: If you won the $252 million jackpot, and decided to take the lump sum (which would be the smart move), which would be something like $150 million, what three things would you choose to do with your money first???

    Have fun with this one guys!
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    Aug 26, 2009 6:09 AM GMT
    Miazgowicz said

    So what I want to know guys is: If you won the $252 million jackpot, and decided to take the lump sum (which would be the smart move), which would be something like $150 million, what three things would you choose to do with your money first???

    Have fun with this one guys!


    icon_lol.gif, i was going to post up an ad about if you win a million dollar, what would you do - but you beat me to the punch. Well, 150 million is a lot of money.

    3 things I'd do first is:

    1/. pay back all my debts - purchases several homes/condos in maybe 3 different cities (SF, LA, NYC) - as my nest-egg/assets.
    2/. donate a large undisclosed sum of money to family, relatives, siblings, close friends (help their mortgage, loans, buy a dream house/car as a gift for example).
    3/. giving some fund back to my Alma Mater - maybe start a foundation for runaway gay teens or something like that for the gay center/community.
    4/. I always wanted to make my own independent films - write/produce it - hire actors, crew, cast ---- etc - start my own movie production company and switch my career to this full time (producer, actor, writer, casting director).

    The rest is used for saving/investment/emergency, charity causes, helping out the poor/less fortunate. .... etc.

    Wow, a guy can dream can he? hahaha!

  • Posted by a hidden member.
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    Aug 26, 2009 9:43 AM GMT
    I'd I won le lotto, I'd go back to school for the rest of my life researching into neurobiology, cures for diseases (that's a given), human longevity, and anything else that promotes and sustains human growth. I'd also take classes on computer animation, Spanish, Japanese, German, and Hebrew on the side. I'd also buy hookers. Lots of fucking hookers.
  • Posted by a hidden member.
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    Aug 26, 2009 10:14 AM GMT
    gay charities.icon_smile.gif
  • Posted by a hidden member.
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    Aug 26, 2009 11:06 AM GMT
    1. Become an asshole.
    2. Remain an asshole.
    3. Die an asshole.

    Seriously though. For some of the money, I'd use it to get my family to somewhere more comfortable and start a game dev studio (after the obligatory gifts, charities, etc. of course). I'll set aside quite a lot. I'm not a big fan of the uber-rich lifestyle (as in 20 beach houses, sports cars, a helicopter, a legion of underlings, etc. meh).
  • Timbales

    Posts: 13993

    Aug 26, 2009 12:32 PM GMT
    Pay off debts
    Gift some to family
    Set up some tax shelters
    Invest
    Enjoy life
  • Posted by a hidden member.
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    Aug 26, 2009 12:36 PM GMT
    I'm sure the sensible thing to do when winning one of the large rollover jackpots of any lottery would be to take your time, pay off any debts, seek advice, invest wisely.............. but fuck that, I want a big speed boat.
  • Posted by a hidden member.
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    Aug 26, 2009 12:42 PM GMT
    1. Buy the car I want (no, not some gas guzzler)
    2. Buy a townhouse
    3. Donate to gay rights causes and other local charities (anonomously of course)
  • HndsmKansan

    Posts: 16311

    Aug 26, 2009 12:43 PM GMT
    Give some of the money away, split it with my bf and I'd have fun investing it.

    icon_biggrin.gif
  • Posted by a hidden member.
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    Aug 26, 2009 1:07 PM GMT

    1. Buy a ridiculous condo here in Boston, NYC, and San Fran
    2. Gift my parents enough money annually (under gift tax limits, of course) to pay off their mortgage.
    3. Buy my dream car
    4. Throw some ridiculously fabulous party.
  • fitdude62

    Posts: 294

    Aug 26, 2009 1:27 PM GMT
    1. Pay off debts.
    2. Expand my Wellness Center so I could help more people.
    3. Set up accounts to help family, friends and non profits.
  • Posted by a hidden member.
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    Aug 26, 2009 1:27 PM GMT
    i'd definitely pay off all my student loans and buy a few nice houses/condos!

    After that it would just a free for all. I'd buy my parents and sisters new homes and cars, and set my nephew up for life. Definitely would want to work things out to maxmize loss on taxes.

    I wouldn't expect to just stop working. I have no idea what I would do with my life with all that money and no goals. Definitely would need to re evaluate my life.
  • Posted by a hidden member.
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    Aug 26, 2009 1:28 PM GMT
    Well, it's now at $325 million. So in MA, after taxes, you would have $143 million in cash.

    1. Pay off my mortgage and credit line

    2. Pay off my parent's mortgage.

    3. Send a couple million up to Maine Equality to fight to keep same-sex marriage alive up there

    4. Buy a new house (but keep the old one, do some renovations, and rent it out).

    5. Assemble some financial advisers and come up with an investment plan to ensure a significant income and protect the principal.

    The real question is not what you would do with the money, but what would you do with your life?

    I think I would try to get involved in philanthropic causes, including, but not limited to, LGBT issues. Maybe establish some sort of charitable foundation.

    I would also travel a bit more, and say goodbye to coach!




  • Posted by a hidden member.
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    Aug 26, 2009 1:35 PM GMT
    Set up College Funds for all of my nieces and nephews.
    Donate to St. Jude
    Donate to Battered Women's and Children's Shelter
    Donate to UNFC
    Donate to ALL AIDS Organizations especially those that service Women and Children of Color.
    If there is any left relocate to Europe or to my father's native land Cuba.

    I guess what I'm saying I would prolly give most of it away.icon_lol.gif
  • Posted by a hidden member.
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    Aug 26, 2009 1:40 PM GMT
    Easy, take the lump sum:

    1/3 cash in the bank (used to pay off debts as far as it would go, the rest would be for fun and charity). Any other excess in this segment would go into a foundation for charity for which I would have oversight but not address submissions. That way I could avoid the outstretched hands in my direction while still donating to worthy causes which would only be research or help for the truly needy (AMFAR, ASPCA, ACF, Scholarships, etc) and no political donations or stipulations that funds cannot be used for political purposes.

    1/3 in a sort of irrevocable living trust. Invested in bonds or other more stable (even if low return) off which interest, profits, and/or a small percent of the total would be paid to me on a regular basis as income.

    1/3 in securities investment. This would be 'play money' for investing for short term gains, and diversity. Primarily in the stock market, but real estate and venture capital would also be possibilities.




    Now all I have to do is win.
  • 24hourguy

    Posts: 364

    Aug 26, 2009 2:16 PM GMT
    1) meet with reputable and trusted financial and legal advisers to figure out the best way to keep my money -I don't want to be one of those lotto-statistics who goes broke 10 years later.
    2) pay off my student loans
    3) resurrect my previous performing career, move to NY and just go for it full-out, full-time. With the burden of how to pay the rent removed I could focus all of my effort and attention on my craft and just audition audition audition for everything!
    4) of course I'd make sure that my parents and brother are also comfortable and taken care of
    5) build a life where I only do things that I enjoy doing -not vacuous things like watching TV all day and eating chocolate, but real things that I love doing like dancing, singing, exercising, taking interesting hair-styling and make-up classes, teaching at the gym because I enjoy it, pursuing all of those interests that I'd love to pursue if only I had the time and money....
    6) and yes, I'd like to get laid a little more often too! $150million has got to make me more attractive, right?! icon_biggrin.gif
  • cowboyathlete

    Posts: 1346

    Aug 26, 2009 2:19 PM GMT
    JakeBenson said I'd also buy hookers. Lots of fucking hookers.

    Fucking A, not a bad idea.
  • MSUBioNerd

    Posts: 1813

    Aug 26, 2009 2:48 PM GMT
    I view the game of imagining what you'd do with your winnings to the primary point of buying the lottery ticket. For me, after first meeting with a financial and legal advisor:

    1) Pay off my mortgage (assuming that I'm not recommended to hold onto it for tax purposes), and probably do some upgrades to the house (build a deck, do some landscaping, that sort of thing).

    2) Plan a fantastic vacation. I'd like to spend a couple of weeks in the British Isles, visit some castles and standing stone circles, go to the British Museum, have my picture taken at Platform 9 3/4 (yes, I'm that much of a nerd), etc. Quite likely, I'd fly through NYC and take in a Broadway show on Broadway while there.

    3) Either buy the equipment for a full home gym in my basement, or a membership to a 24 hour gym.

    There would be other things that the money gave me -- primarily long-term financial security, and quite possibly the ability to spend my entire adult life as a student rather than having to take a job to earn a living -- but those three are likely to be the first three major purchases.
  • Posted by a hidden member.
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    Aug 26, 2009 3:33 PM GMT
    Don't forget to set up a trust first, so that you can claim the money anonymously!

    You don't want people knowing you won that much money.
  • Posted by a hidden member.
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    Aug 26, 2009 3:34 PM GMT
    Check into a good hotel for a few weeks and order room service every day

    Get a good financial planner to help me invest it.....into real estate, securities etc.and give money to friends, foundations and other worthy causes.

    Plan an around the world trip that could last about a year.
  • JP85257

    Posts: 3284

    Aug 26, 2009 3:41 PM GMT
    One of the fundamentals Ive always gone by is 10% to the church first and that is what I'll do.
    Pay off the 1 million bucks I owe to the SBA.
    Buy myself the largest, most obnoxious SUV (not a hummer) I can. Most Likely a Nissan Armada or Expedition or something.
    Go make the guy that said I wasnt good enough for him feel like shit.
    Pay off all debt owed by my family.
    Buy myself a nice ranch style home in the Arcadia District of Phoenix.
    Buy a personal trainer and get tight like a tiger.
    GO ON VACATION.
    Tan.

    Oh and set it up in a trust so NO one knows I have it except who I want to know.
  • coolarmydude

    Posts: 9190

    Aug 26, 2009 3:43 PM GMT
    Miazgowicz saidSo what I want to know guys is: If you won the $252 million jackpot, and decided to take the lump sum (which would be the smart move), which would be something like $150 million, what three things would you choose to do with your money first???




    Actually not really a smart move. Consider tax rates and wiped out investment accounts.

    And the jackpot is now at $325 million ($204.6 million cash option).

    If you took the cash amount, you would get about $126,471,431.00 (after 28% tax rate) whereas if you took the annuity, you would end up with $234,000,000.00 (after 28% tax rate) after 26 years. It's a given that a reasonable portion of the lump sum will be spent/donated, so it will be ever so much more difficult to make investment gains over 26 years to at least catch up with the annuity payouts.

    I'd rather $9 million (after taxes) annual paydays for 26 years anyways.
  • Posted by a hidden member.
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    Aug 26, 2009 3:45 PM GMT
    [quote][cite]JP85257 said[/cite
    Go make the guy that said I wasnt good enough for him feel like shit.[/quote]

    SWEET! REAL SWEET! I love it.
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    Aug 26, 2009 4:07 PM GMT
    You have to pay tax on lottery winnings in the USA?

    Ouch, that blows.
  • coolarmydude

    Posts: 9190

    Aug 26, 2009 4:08 PM GMT
    Yes. It's considered income.