What would you do with your new fortune

Reply #36

xinlee — Sat, 08 May 2004 07:55:23 GMT

212 Million NOW!!! Approximately 60 million take home lump sum after all applicable taxes (fed,state,local). Take about 35 million into CD laddering and splurge about 5 million on house and cars. The rest going to parents and siblings.

Reply #35

hypersoniq — Sat, 08 May 2004 07:19:59 GMT

FIRST thing I would do is form a trust to collect anonymously and choose the lump sum

Reply #34

JohnC — Sat, 08 May 2004 02:22:50 GMT

I don't know what I'd do in the longer term but what I do know is this......I'd pay off my debts, quit my job and then take some time (probably on holiday) to have a think about it. For me, the biggest thing that I'd get from a big lottery win is FREEDOM !! I see that the next Powerball cash value has been put up to around $110 million (before taxes) and the fact of the matter is that I wouldn't need anywhere near that amount of money, so I'd probably use some of it to help out some worthy cau... [ More ]

Reply #33

numbersman — Fri, 07 May 2004 21:03:00 GMT

I just sit and think! What am I gonna do with all this money. Strongly in shock, and then start spending like everything I always wanted. Isn't it fun to dream.

Reply #32

Thomas Covenant — Fri, 07 May 2004 20:26:51 GMT

>>The reason I'd probably take the cash is many investment management firms can invest the money and most likely give you a higher return than you get from the annuity.<<<Possible, but doubtful. The annuity is pre-tax. You would have to exceed a 10% return to beat the annuity.

Reply #31

Todd — Fri, 07 May 2004 17:16:21 GMT

Six,Welcome to Lottery Post

Reply #30

PrisonerSix — Fri, 07 May 2004 17:11:17 GMT

If I won, I'd most likely take the cash. I'd pay off my house(around $70,000 I owe), both of our vehicles(approximately $15,000), buy a few nice things for myself I've been wanting(i.e. computer stuff, ham radio stuff, etc.), and take that trip I've always wanted to take. I'd also give some to charities I believe in supporting.As for the money, I'd put some in bank accounts, CDs, make some diversified investments, and live off the returns and interest. The reason I'd probably take the cash is... [ More ]

Reply #29

JetSet9 — Fri, 07 May 2004 16:54:18 GMT

I would Live VERY VERY Larg

Reply #28

Thomas Covenant — Thu, 06 May 2004 20:18:45 GMT

I want one of these.Click here

Reply #27

keystonechas — Thu, 06 May 2004 05:51:21 GMT

How do people know that your rich?When the ash tray gets full, you trade in the car for a new one!Chas

Reply #26

st.germain — Thu, 06 May 2004 05:44:10 GMT

Your probaly right.

Reply #25

keystonechas — Thu, 06 May 2004 05:40:24 GMT

Use paper plates, its cheaper.LOL,Chas

Reply #24

st.germain — Thu, 06 May 2004 05:37:30 GMT

I will tell you what I would do if I HIT for a lot of money,....I would get a dishwasher,...I don't care what her nationality is.

Reply #23

mayan27 — Thu, 06 May 2004 02:21:02 GMT

RETIRE AND NEVER WORK AS AN ORDINARY PERSON

Reply #22

Big Hitter — Thu, 06 May 2004 00:32:11 GMT

After contacting the appropriate professionals (Lawyer/CPA) and setting up a trust, I would take the lump sum cash payout, fund the trust and live off of that. Then I can start a business of my own and help the only way that counts, provide jobs in my local neighborhood for people who want them family included. People don't appreciate handouts anyway...

Reply #21

st.germain — Wed, 05 May 2004 23:40:37 GMT

I would think that is more then any one may hope for and should be thankful that you had thought of them....if they still disagree then you know who your friends are.

Reply #20

time2win — Wed, 05 May 2004 22:27:38 GMT

I would definetly change my telephone numbers first then seek out an account, financial planner, and estate lawyer to draw up a simple trust. And after all is settled tax wise then start writing out the checks:Mom dad: one million each Four sisters, nine aunts and uncles, two grandmothers, two great uncles, ten friends, my church, local SPCA, and one or two other local charities: $10,000 each. I have been told that my plan sounds a bit stingy but $10,000 sounds like more than enough money to... [ More ]

Reply #19

twisted — Wed, 05 May 2004 21:38:00 GMT

Quote: Originally posted by jon3484 on May 05, 2004Geez, and I didn't even include the NYC pent house and the endless vacations, lol. Well since you put it that way, make that church donation $5-6 million and my relatives would probably just get $10,000 per house hold (about 8 on my mom's side and 5 on my dad's). The cars would probably total up to $657,000, lol. I did a little research and real estate in San Diego is pretty expensive. So I would probably be looking at about $8-10 million.... [ More ]

Reply #18

whodeani — Wed, 05 May 2004 20:56:42 GMT

After paying some bills and

Reply #17

jon3484 — Wed, 05 May 2004 20:16:01 GMT

Quote: Originally posted by twisted on May 04, 2004 Hey jon3484 I'm not trying to burst your bubbles or anything so dont take this the wrong way( I do admire your sentiment of giving alot of your money away to help others) But lets see here. $170 million dollars = $90.4 million cash. Take away taxes (suppose Federal tax 35%, and state tax 7%) and you are left with $52.432 million. 52.432 - 14 Million (church) - 4 million (land/house in san diego, being modest) - 400,000 (interior decorator,aga... [ More ]

Reply #16

garyo1954 — Wed, 05 May 2004 06:05:47 GMT

Jon, Am I extended family? Strangely, a couple of years ago one of the guys at work did win. Didn't know he won until they started checking their numbers in the breakroom. Then refused to leave work because they needed him. His supervisor had to call his son to convince him it was okay. Of course, it wasn't like he won the whole thing. His share was about $13 million before taxes........ Would it be odd if I just got a new roof, maybe a rocking chair and sat on the porch thinking about w... [ More ]

Reply #15

weshar75 — Wed, 05 May 2004 03:49:37 GMT

Once you decide to give your money away at least a portion of it remember the IRS will put a gift tax on any amount that exceeds 10,000 dollars per year per donee unless it is your spouse. Which is 20000 dollars per year.

Reply #14

DoctorEw220 — Wed, 05 May 2004 03:30:22 GMT

it also depends on how much you win. what if you have the only winning ticket? what if you have to split the jackpot with 1, or 2, or 3 other winners? what if you are in a pool, and the pool happens to have the ticket? what if, the day after you win, your estranged ex-girlfriend approaches you, telling you that you may be the father of her kid, that was born 17 years ago? child support will be taken out of the check in some states. there are a lot of things to think about before you think a... [ More ]

Reply #13

rabbitfoot1 — Wed, 05 May 2004 01:34:10 GMT

I would purchase myself a couple thousand acres for my own private retreat. I would also provide accomodations for family members. That's it for now.

Reply #12

twisted — Wed, 05 May 2004 01:30:21 GMT

25% is what the lottery withholds. You would have to pay the other 10% later when you do your taxes at the end of the tax year (lottery winnings are considered income. I know, it is bad). You are right, some states dont impose taxes on lottery winnings. You have to be one of those lucky ones.

Reply #11

DoctorEw220 — Wed, 05 May 2004 01:27:34 GMT

federal tax is actually 25%, and not all states impose tax on lottery winnings.

Reply #10

twisted — Wed, 05 May 2004 01:15:30 GMT

Quote: Originally posted by jon3484 on May 04, 2004I don't know if this topic has been posted before, because I'm new here, lol, but I was wondering, what would you do, if you actually one tomorrow's Powerball Jackpot ($170 million)? The first thing I would do, would be to hire a financial planner, like most winners do. Then my immediate family and I would probably take a vacation on some tropical island out of the country. While I was away, I would send a $14 million dollar check to my church... [ More ]

Reply #9

DoctorEw220 — Wed, 05 May 2004 00:28:41 GMT

i'd start up a video production company if i won the jackpot as well as what i mentioned in my previous post. that way, i wouldn't have to look for a job after i graduate.

Reply #8

JAP69 — Wed, 05 May 2004 00:21:01 GMT

Retire

Reply #7

golotto — Wed, 05 May 2004 00:16:16 GMT

i'd try my best to remain anonymous but living in wisconsin there are two things that the lottery doesn't offer (1) total anonymity and (2) hotlotto ...why doesn't every state that offers musl powerball also offer hotlotto? as far as the winnings ie. the 170 million - i honestly don't have a clue what i would do.

Reply #6

DoctorEw220 — Tue, 04 May 2004 23:19:22 GMT

a person can dream, can't they

Reply #5

CASH Only — Tue, 04 May 2004 23:11:48 GMT

Dr EW:Win the jackpot. THEN make up your mind.

Reply #4

DoctorEw220 — Tue, 04 May 2004 23:05:47 GMT

I'm with weshar75. I'd take the annuity. I'd then buy out my old work, after a year or two, just so I could fire my boss. Then I would stall the wrongful termination lawsuit another year so I could put the next payment towards hiring Johnny Cochran as my lawyer.

Reply #3

GumboMaverick — Tue, 04 May 2004 23:00:38 GMT

I would live how I live now except, no working, only play golf, let my wife shop without me complaining and travel. Then buy my folks a new house and cars, take care of my family. Invest.

Reply #2

CASH Only — Tue, 04 May 2004 22:56:52 GMT

weshar:I told you before DO NOT commit yourself to the annuity.

Reply #1

weshar75 — Tue, 04 May 2004 22:51:27 GMT

First I would take the annuity payments over the 30 years. I would pay off my debt from the car I have early. Get a lawyer to make out a will for my belongings in case of early death occurs. I would put most of the annual check in the savings account I have at the bank. Splurge on a new set of clothes and a new truck. But the one thing I will not do is turn into a handout machine for anybody that wants one. If I waited this long to win they can wait a little bit longer for a handout. I wo... [ More ]

What would you do with your new fortune

jon3484 — Tue, 04 May 2004 21:24:02 GMT

I don't know if this topic has been posted before, because I'm new here, lol, but I was wondering, what would you do, if you actually one tomorrow's Powerball Jackpot ($170 million)? The first thing I would do, would be to hire a financial planner, like most winners do. Then my immediate family and I would probably take a vacation on some tropical island out of the country. While I was away, I would send a $14 million dollar check to my church, for a new santuary and scholarship in memory of m... [ More ]