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You just won a huge lottery jackpot! Now what?

Topic closed. 137 replies. Last post 3 years ago by MsBee18.

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CDanaT's avatar - Nolz june15.jpg
Central TN
United States
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January 4, 2012
6073 Posts
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Ok BUYLOW.. what is #5 ??..nooo not the dollar amount

Integrity: There is no substitute.

"If some among you fear taking a stand because you are afraid of reprisals . . . recognize that you are just feeding the crocodile hoping he'll eat you last."

    BuyLow's avatar - fd725949c52faf3bef0a9e377747408d -iphone-wallpaper-palm-trees.jpg
    Florida
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    Member #61433
    May 22, 2008
    1228 Posts
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    DANG BuyLow!  You really think you are going to win tonight huh?  WOW!

    I always run a spreadsheet on current jackpots.  Just have to change a few numbers and the rest auto calculates.  I know myself, so I know I must have a plan. Wink

     

    Don't want to be Jack Whittaker or David Lee Edwards.  Green laugh

      BuyLow's avatar - fd725949c52faf3bef0a9e377747408d -iphone-wallpaper-palm-trees.jpg
      Florida
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      Member #61433
      May 22, 2008
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      Ok BUYLOW.. what is #5 ??..nooo not the dollar amount

      House/Cars/Boat/My Brother/Others Thumbs Up

        Revolution777's avatar - moon
        New Member
        Boring Oregon
        United States
        Member #192984
        October 18, 2018
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        That is pretty cool BuyLow!  I hope your dream comes true!  I just wish I was Paul Allen's brother!  (The $20 billionaire that recently died)

          CDanaT's avatar - Nolz june15.jpg
          Central TN
          United States
          Member #121187
          January 4, 2012
          6073 Posts
          Offline

          House/Cars/Boat/My Brother/Others Thumbs Up

          Welllll now.... $20 Million ???... out of almost 600 Million...Family and friends is right up there I see 

          How we breaking that down ?? $10 Million Dollar House, $8 Million dollar boat........

          Green laugh.. Sorry, couldn't resist

          Integrity: There is no substitute.

          "If some among you fear taking a stand because you are afraid of reprisals . . . recognize that you are just feeding the crocodile hoping he'll eat you last."

            JBounds's avatar - cigar
            Missouri
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            Member #164732
            March 13, 2015
            295 Posts
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            I wouldn't need a team. A lawyer, yes, maybe an accountant, but some large team isn't necessary. I'm not stupid.

            If and that's a big IF I win at all. I will give money away that's a fact. I'm not that materialistic. But I will move far away from where I live where not a soul knows me. I will give and live a good life.

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              Mt Sterling, IL
              United States
              Member #192745
              October 8, 2018
              199 Posts
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              "but if you won tonight's behemoth of a jackpot there would be no end to the media interest."

              Lots of people are suggesting "wait to validate the ticket", "get you ducks in a row", "hire a financial planner", "take the payments" and several other things. The problem is, winning a jackpot is not "one size fits all" so it's really about personal preferences. IMO, the longer the winner wait, the more media scrutiny of the winner. Which may include paying a clerk to view the security tapes.

              It might take six week after validating the ticket to get all the money and I've always wondered how someone without their ducks lined up now, how could they line them up without at least some of the jackpot money. Most people have no clue how to invest their money and is it really necessary to talk to a planner before validating the ticket?

              Today the real "dog and pony" show were the people buying tickets that never played before. Saw a guy calling out the numbers he wanted to play. When he asked for "82", the clerk told him to fill out a play slip, he looked like a deer in the headlights. There was on the counter "Cash only for lottery tickets" and when I said to the clerk, "I thought everyone knew that", she said most of the players never played before.

              Based on what I saw today, one winner, the first ticket they ever bought, and they will hold a world class dog and pony show.

              Good luck!

              Best of luck to you, Stack47! Yesterday I went to buy my tickets (I went to a town about 40 minutes away, just because I had to go to Home Depot anyway, I figured it would draw some of the heat away if I won. lol) I walked up to the counter and told the girl "I'm going to test your E.S.P. abilities... What am I here to purchase?" She just looked at me and asked how many I wanted. Three road construction dudes were behind me, and I could hear them saying how they'd never bought a lottery ticket before, they just couldn't see the point in it. I could tell that they were building up to giving me crap for wasting $21, and they would've if they'd known me, but I guess they decided that discretion is the better part of valor, and besides, I could've been the wrong kind of psycho as far as they knew... lol... 

              I agree about getting your ducks in a row. I'm fortunate in that my bank is privately owned, and I'm friends with the two loan officers there. I know them to be discrete, and they'd loan me a couple hundred grand with a handshake and a signature (that goes double if I showed them a copy of my winning ticket! lol) So I'd be able to get set up somewhere warm and distant before I ever had to worry about turning in my ticket or cashing that big fat check!

                BuyLow's avatar - fd725949c52faf3bef0a9e377747408d -iphone-wallpaper-palm-trees.jpg
                Florida
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                Member #61433
                May 22, 2008
                1228 Posts
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                Welllll now.... $20 Million ???... out of almost 600 Million...Family and friends is right up there I see 

                How we breaking that down ?? $10 Million Dollar House, $8 Million dollar boat........

                Green laugh.. Sorry, couldn't resist

                Sounds stingy lol.......Big giving upfront doesn't usually pan out well from what I can tell......and, My bro is the only one left of my family.  I would set him up well so he didn't have to work but a BIG windfall would not be good for him, so I would buy him a bunch of houses put in a trust for rental income and give him like $250,000 cash up front.  I would give the maximum per year to all my friends and their family members, a family of four that would be like $56,000.00 per year.  If I can replace one income and the mom or dad can stay home with the kids that would make me happy. How will you dole out your millions?

                  CDanaT's avatar - Nolz june15.jpg
                  Central TN
                  United States
                  Member #121187
                  January 4, 2012
                  6073 Posts
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                  Sounds stingy lol.......Big giving upfront doesn't usually pan out well from what I can tell......and, My bro is the only one left of my family.  I would set him up well so he didn't have to work but a BIG windfall would not be good for him, so I would buy him a bunch of houses put in a trust for rental income and give him like $250,000 cash up front.  I would give the maximum per year to all my friends and their family members, a family of four that would be like $56,000.00 per year.  If I can replace one income and the mom or dad can stay home with the kids that would make me happy. How will you dole out your millions?

                  Stingy....lolololol... i was thinking along the lines of "a part of your anatomy is so tight that if you ever broke wind,the only thing that would hear you is a dog",,But I digress after your full explanation.......... Mine is a bit more family/friends oriented, staying away from real estate adventures, other than a home and land.

                  Family/friends- $287 M, the Mrs( aka The War Dept) and me about $120M for the nest egg, house(s), vehicles, toys. $75M to various charities. $50M to Wounded Warriors and the remainder to start our own charity.  *Subject to change

                  Integrity: There is no substitute.

                  "If some among you fear taking a stand because you are afraid of reprisals . . . recognize that you are just feeding the crocodile hoping he'll eat you last."

                    BuyLow's avatar - fd725949c52faf3bef0a9e377747408d -iphone-wallpaper-palm-trees.jpg
                    Florida
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                    Member #61433
                    May 22, 2008
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                    Stingy....lolololol... i was thinking along the lines of "a part of your anatomy is so tight that if you ever broke wind,the only thing that would hear you is a dog",,But I digress after your full explanation.......... Mine is a bit more family/friends oriented, staying away from real estate adventures, other than a home and land.

                    Family/friends- $287 M, the Mrs( aka The War Dept) and me about $120M for the nest egg, house(s), vehicles, toys. $75M to various charities. $50M to Wounded Warriors and the remainder to start our own charity.  *Subject to change

                    Good plan, a bit to generous for my tight body parts though!  Banana  LOL   Jester

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                      Mt Sterling, IL
                      United States
                      Member #192745
                      October 8, 2018
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                      Allow me to state the obvious, but it's mind-blowing that the PB is $620M, an astounding jackpot... Meanwhile, the MM is (almost) A BILLION DOLLARS richer than that! I'm so proud of my underdog MM! lol

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                        DMV
                        United States
                        Member #183844
                        August 18, 2017
                        305 Posts
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                        Stingy....lolololol... i was thinking along the lines of "a part of your anatomy is so tight that if you ever broke wind,the only thing that would hear you is a dog",,But I digress after your full explanation.......... Mine is a bit more family/friends oriented, staying away from real estate adventures, other than a home and land.

                        Family/friends- $287 M, the Mrs( aka The War Dept) and me about $120M for the nest egg, house(s), vehicles, toys. $75M to various charities. $50M to Wounded Warriors and the remainder to start our own charity.  *Subject to change

                        Yeah I agree I want to share the pot of gold with many family and a few friends. Will I invest sure but I don't need to take 600 million post tax and turn it into 5 billion before I turn 60.

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                          Mt Sterling, IL
                          United States
                          Member #192745
                          October 8, 2018
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                          I was all for dividing it up between my loved ones, but since I found out I'd have to pay an additional 40% gift tax above $11M, then screw 'em, they can divide the $11M! I don't like them THAT much! LOL

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                            DMV
                            United States
                            Member #183844
                            August 18, 2017
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                            I was all for dividing it up between my loved ones, but since I found out I'd have to pay an additional 40% gift tax above $11M, then screw 'em, they can divide the $11M! I don't like them THAT much! LOL

                            LOL just get married to random <insert gender> so they can gift people 11 million without knowing it. Dance      (that was a joke)

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                              Mt Sterling, IL
                              United States
                              Member #192745
                              October 8, 2018
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                              LOL just get married to random <insert gender> so they can gift people 11 million without knowing it. Dance      (that was a joke)

                              Well, maybe with an iron-clad prenuptual agreement! lol.. Not a bad plan!

                                 
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