Best place for a large Lottery Winners to Live

Reply #25

myzeus — Sun, 08 Aug 2010 04:55:27 GMT

I would move to Beverly Hills.

Reply #24

Coin Toss — Sat, 07 Aug 2010 06:25:57 GMT

ttech10

According toresearch conducted by the Missouri Economic Research and InformationCenter, the 10 most affordable states in the US are:

Oklahoma Tornado alley, miserable summers Texas Tennessee Arkansas Nebraska South Dakota Missouri Kansas Georgia really miserable summers Mississippi pathetically miserable sunners!

If you've won a jackpot are you that concerned with afforadbility

Reply #23

markp1950 — Sat, 07 Aug 2010 05:55:11 GMT

I still pick Wyoming as my favorite. I Already have my property picked out and my new house designed. The people there are really nice, as are the ones next door in South Dakota. A complete contrast, yet my 3rd favorite would be Vegas. The one nice thing about vegas, is because the stock market opens there at 6:30, many days I could get my stock flipping done my 7:30 and still have all day. Even if I would work all day at it, I would be done by 1:30PM.

And boy would I absolutely love to live

Reply #22

ttech10 — Fri, 06 Aug 2010 05:02:08 GMT

But then you have to deal with living in Wyoming and it's bordering states. Sorry to anyone living in those states, but IMO there's not really anything I could picture myself doing in any of there, plus I wouldn't think the weather would be too great. You may also feel like an outcast if you weren't white (the demographics there are like 96% white).

Personally I'd go with Texas as there are major cities with very nice places as well as areas of the state with open country where you can be sec... [ More ]

Reply #21

markp1950 — Fri, 06 Aug 2010 02:14:49 GMT

One of the best places for rich people to live is Wyoming with many tax advantages.

No state taxes, low property taxes, no inheritance taxes.

http://revenue.state.wy.us/

Income Tax

The state of Wyoming does not levy a personal or corporate income tax. Wyoming does not impose a tax on intangible assets such as bank accounts, stocks, or bonds, either. In addition, Wyoming does not assess any tax on retirement income earned and received from another state. Further, there is... [ More ]

Reply #20

OldSchoolPa — Fri, 06 Aug 2010 00:17:56 GMT

And that is why for the first few years after I win, I will be throwing huge support for a presidential candidate and members of Congress who would be supportive of diminishing the role and power of the IRS and institute a flat, fair tax. But under Daddy Obama, the IRS will only grow additional tentacles, as have many other branches of our government.

Reply #19

ttech10 — Thu, 05 Aug 2010 11:52:45 GMT

Yea but there are also places that are nice where that doesn't happen. At least I know some people that live in one of the nicest areas here and they are really nice people that don't think that way. Of course I wouldn't be that surprised if they would actually think that if it happened since anyone's mind can change when they're actually approached with the situation (referring to how people think their friends wouldn't look at them differently if they won the lottery since after all, they're f... [ More ]

Reply #18

ttech10 — Thu, 05 Aug 2010 11:43:34 GMT

Yea, Texas allows it. Found this on their site a while back, you can claim as a blind trust but you must first give the Lottery headquarters the documents so they can review them.

A claimant can be an individual, a trust, a partnership, a corporation, or any other legal entity. The way in which you claim a prize cannot be changed after the ticket is validated and the prize is paid; therefore, careful consideration and professional advice, including but not limited to legal or financial

Reply #17

sully16 — Thu, 05 Aug 2010 11:12:52 GMT

The best place used to be the Gulf of Mexico but, now it's a giant fry daddy.

So I guess I'll go with Nova Scotia now.

Reply #16

four4me — Thu, 05 Aug 2010 04:03:20 GMT

The best place would probably be a gated community.

Reply #15

Coin Toss — Thu, 05 Aug 2010 03:47:47 GMT

How about a surplus U.S. Air Force missile silo in the Dakotas?

A lighthouse sounds good, too.

Reply #14

KY Floyd — Thu, 05 Aug 2010 03:45:30 GMT

if you are a considerate person and not trashy I don't think they'd really mind you if they knew you won the lottery

There are many places where if you buy a house from the Smiths and live there for 15 years you'll still be referred to as that guy that bought the old Smith place . You might be a nice guy, but if you move into a ritzy neighborhood where everybody earned their big pile of money and you got yours from a lottery you should plan on being an outsider until you find a better neighb... [ More ]

Reply #13

KY Floyd — Thu, 05 Aug 2010 03:40:52 GMT

I was thinking along those same lines.

Reply #12

ca-dreamin* — Thu, 05 Aug 2010 03:00:13 GMT

You know that place......Anytown USA

Reply #11

BaristaExpress — Wed, 04 Aug 2010 21:59:07 GMT

But given that, if the taxation became so unbearable, I would highly consider relinquishing my US citizenship for that of a more tax friendly stable country . Under current US Income Tax Law if the IRS can prove that's the only reason as to why you're willing to renounce your US citizenship they will tax you anyway for the next 10 years after granting you your wish of not being a US citizen! So go ahead and see what happens if the IRS gets wind of your plans.... TOO LATE! Oh that's right what's... [ More ]

Reply #10

OldSchoolPa — Wed, 04 Aug 2010 21:01:42 GMT

The best place(s) I can think of are all abroad...if I were a big lottery jackpot winner, I would become a world traveler, but I would maintain my residence in a tax friendly state (as tax friendly as you can get under the CURRENT administration...forget about the past 8 years and see the collossal misdirection that is occurring in these present 18 months!). But given that, if the taxation became so unbearable, I would highly consider relinquishing my US citizenship for that of a more tax friend... [ More ]

Reply #9

rdgrnr — Wed, 04 Aug 2010 18:32:44 GMT

They'd probably need a place with large doorways.

Reply #8

BobP — Wed, 04 Aug 2010 06:19:36 GMT

One of the Disney communities. BobP

Reply #7

Clipper — Wed, 04 Aug 2010 05:12:11 GMT

Found info about Blind Trust and some other things. Now to find whether my State allows Blind Trust or not. Is something I might consider depending on how much I win. Even found info on Taxes and Investments.

Reply #6

diamondpalace — Wed, 04 Aug 2010 05:06:45 GMT

In space.

Reply #5

visiondude — Wed, 04 Aug 2010 04:47:26 GMT

in a van, down by the river

Reply #4

Clipper — Wed, 04 Aug 2010 04:21:06 GMT

How does a blind trust work? I've been considering alternatives for collection myself should I win. Have thought about Incorporating a business name as one.

Reply #3

ttech10 — Wed, 04 Aug 2010 04:17:29 GMT

The rich part of your town? If I were to win I already plan on moving within 2 years to the country club here. Seems a good fit, there isn't a bad neighborhood near it, it's in the expanding part of town where the nicest houses are/will be and since everyone else around me would be pretty wealthy themselves I wouldn't have to worry about much or standing out.

Of course I plan on collecting with a blind trust so I wouldn't really be judged as not having actually earned my money. But I mea... [ More ]

Reply #2

HoLeeKau — Tue, 03 Aug 2010 19:37:28 GMT

Best place is any state that allows winners to remain anonymous, so as to avoid the situation Clipper described.

Reply #1

Clipper — Tue, 03 Aug 2010 19:06:45 GMT

Probably behind tall walls and locked doors. I've always said if I won I was going to get a Andwering Machine and leave message to the effect:

If you are a friend or a relative you know the procedure to reach me. I know you arent' a Bill Collector because I don't have any debts. I've already given to the people and charities of my choosing. If you are an investor or inventor and want me to invest in something.....I probably dont need it nor want it to begin with. All others, please leave mess... [ More ]

Best place for a large Lottery Winners to Live

joshuacloak — Tue, 03 Aug 2010 11:20:05 GMT

so whats the Best place for a large Lottery Winners to Live

Paying my respects to

Best place for a lottery player to live thread

thx for the idea