I pretty much just use this site to play Sudoku but noticed this topic under "Latest Posts". I don't play Powerball unless the jackpot gets over $200 million and have probably only bought 3 tickets in my entire life. However, I do love the topic of "what would you do with an enormous sum of money that you didn't have to work for". I think it says a lot about who a person is and not necessarily good versus bad.
If I won over $200 million, I'd probably choose annuity payments. (Please don't explain the technical reasons why I shouldn't. It is, after all, my fantasy.) I would put $2 million a year into Treasury notes (i know it would at best beat/match inflation; but again, my fantasy.) That way after 24/25 years, I'd have $2 milllion a year to play with not adjusted for inflation. I would take another $1 million and put it into my brokerage account to manage myself. This would be primarily for my own enjoyment. I have a degree in Finance and Economics, so playing this market would be a nice hobby. Whatever is left per year, I would divide up into percentages. I would probably spend 30% of the rest on housing, 20% would go to my parents, 5% to church ministries and 5% to whatever I wanted, 5% for various expenses (insurance, gas, whatever), 10% on fun (boats, food, motorcycles, whatever), 15% on travel, and 5% on cars/trucks. I think that comes to like 95%, and the last 5% would be for giving my 4 friends that 12k a year everyone talks about and just allocate the rest wherever.
I'd probably put that strategy into place using the necessary professionals starting with the second check. The first check, I'd probably just go crazy with. I'd just get a black card from AMEX and have fun. I would definitely take my close family and friends to Morton's for a private dining experience and pay off my family's mortgage/debt and my college loans.
Specific purchases over a lifetime: catamaran powerboat (Eliminator), Lake home, mountain home, beach property, small yacht, jet skis. I'd basically just have a great time all the time.
I'm sure there are all kinds of technical things to do with the money, but I don't care. It's just a fantasy; and in that perfect world, that's what I'd do.