You just hit the Jackpot - 200+ Millions - now what??Previous TopicNext Topic

how many have thought about this?  sure some of us have spreadsheets already  outlining how many people in our family get x amount of dollars, how much goes to charity (quite a bit on my part) and how much goes into trust etc.

do you wait a few months, let the hype cool down?

do you claim anonymous?  do you open a trust, hire a lawyer to claim for you?

whats your first purchase?

me personally....

i let the hype die down a few weeks at least.  put the ticket in safe deposit box.

i talk to about 5 different lawyers / financial planners - find out the tax implications.

start setting up accounts at different banks (fdic) not to mention look into offshore accounts (not for tax purposes but for interest purposes.  i want to live off of interest not my winnings.  by the time uncle sam gets my 50 million (which im sure will go nowhere towards the nations debt) i want my 60/70 millions working for me.

i do pay off my house, and all bills.  most of my familys after claiming that i won a million at the casino (anonimity is a must).

i have no plans to go super crazy with money - perhaps 50-100k on a nice trip, and a new car (nothing fancy like a ferrari - no use with kids).  SUV of some sort, infinity perhaps.

perhaps look into a new house - nothing too big.

really, i just want to wake up in the morning and do whatever i want - whenever i want.  i want my children to go to a good college, and make the best of their life.  sure they will have trust accounts - but they will come with stipulations that must be met - and no way they are getting their money at a young age.  they must have their degrees, they must have decent jobs - i do not want trust fund babies spoiled rotten.  they need to know the daily grind - it only will make them stronger.

(have some friends that received large sums when they turned 18 - one gone in a year, the other gone in 18 months.  this was money they could have lived on the rest of their lives - makes me sick (7 figures sick).

anyway im rambling, would love to hear others plans!

good luck!

When your young you can be very stupid with a lot of money..Age is good if you win money..When I hit big I have a brother-in-law who is worth about 8mil..He is in his 70's and smart..That will be the first person I call and ask what to do..He don't mess around when it comes to money he,earned his..I think your family will change a bit and maybe not be happy with what you give them but I hope I'm wrong?..If not so what...

I'd tell nobody I won & book a long trip somewhere on a beach . I NEED a vacation !! :)

I would wait awhile.  First, to see how many outlandish stories of people losing the ticket pop up.  Second, to get all my affairs in order, that would include financial planner, lawyer, CPA etc.

My first purchase:  Go out for a really fancy dinner and then jet off to an exotic location to hopefully let the fervor die down a bit.

tiggs95

"...Age is good if you win money.."

Well, Jack Whitaker comes to mind, exceptions to every rule.

Coin Toss..Yeah I forgot about ole Jack..I guess we'd call him a stupid old man..One in every crowed...Poor Jack..

First thing i would to is hire me an Accountant and a Lawyer then !nvest. then, Sat on it for a while, untill I made my mind up what to do with it.

1st off id  get the best legal and financial advice free internet forums can provide.

First, I'd pick myself up off the floor.........

First thing, I'd knock back a little Jack.

Then I'd get my ear protection out of the gun safe.

Then I'd tell my wife.   

Then I'd go out to Ruth's Chris Steak House and leisurely plan the rest.

rdgrnr

A guy I was in the Army with had this plan for if he ever hit a jackpot, might give everyone her a chuckle.

1. Buy A Harley.

2. Never spend another day of your life working for someboy else.

3. Look up every #$% you ever did work for!

When I win I will call some of my notorious haters from my family and ask them to tell them I'm having an graduation party for my daughter but I need to gget the deposit to the ballroom before November 3rd, 2009 or they will give up my space and I will loss my current deposit of $500.00. All those who refuse to loan me $300 will be XXXXXXXXXXXX completely out. I will of course take a relax vacation well no I just came back from a vacation but the real key is not telling anyone and to weed out the bad seed. The ones who say they will help, will hit the lottery for a small sum, not too much but something but I still will not tell them. Totally down low.lol

Thank You for Haters They make you stronger

You sound like a few of my ex-wives - devious!   

If I won a $200 million plus jackpot this is a few of the things I would do:

1. Cash my ticket.
2. Pay IRS.
3. Make sure I get the annuity not the cash value of the jackpot.
4. Pay tithes on the jackpot using my annual checks.
5. Thank GOD everyday for the blessing I have received.
6. Do my wild spending with my first 2 million dollars. Just to get it out of my system.
7. Set up trusts for my children.
8. Do a large donation to Lottery Post for maintenance and upkeep.
9. Upgrade my Lottery Post membership for life.
10. Return to school to learn how to handle large volumes of money wisely.
11. Get complete physicals for all family members.
12. Enroll whole family in a gym and hire a personal trainer to maintain physical fitness for all of us. Everybody gotta go 3 times a week.
13. Enroll all of my special need children into a special need school.
14. Hire private tutors for all my children.
15. Hire behaviour specialists for all my children.
16. Hire life coach for whole family to stay motivated in a positive way.
17. Purchase a vehicle that will safely and leagally transport 10 people at one time.
18. Donate annually to all organizations that my children have benefitted from. EX: Special Olympics-Boy Scouts-Girl Scouts-Special Ed dept. of the public school they attend-Band Dept.-PTA-Etc.....
19. Have house completely redone. Inside and outside.
20. Purchase a few houses to rent.
21. Purchase good quality food that will not trigger the allergies in my family.
22. Take family on lots of road trips every summer and holiday.
23. Upgrade my cable package.
24. Upgrade my cell phone and cell phone plan.
25. Do charity work.
26. Purchase home for mother-in-law and make sure she is set up really really good.
27. Continue to play the lottery with the expectation to win more multi-million dollar jackpots.
28. Enjoy the rest of my life with the blessing given to me.

This is just the short list.

I'd hate to see the long list

as for me .....

I can't say my list is near as long nore as detailed ...

but I have to admit the few & many things mentioned sounds pretty much like what I'd do

'cept I don't have kids and couldn't care less about certain family members

as for my membership here and continued playing of the lottery .....U bet yer bottom dollar I'd do both