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

Topic closed. 30 replies. Last post 7 years ago by Dollar419.

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rdgrnr's avatar - walt
Way back up in them dadgum hills, son!
United States
Member #73904
April 28, 2009
14903 Posts
Offline
Posted: October 26, 2009, 10:32 pm - IP Logged

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.

You sound like a level-headed, good-hearted, giving person PERDUE.

I hope you win big.


                                             
                     
                                         

 

 

 

 

                                                                                                   

"The only thing necessary for evil to triumph is for good men to do nothing"

                                                                                            --Edmund Burke

 

 

    Jack Pot's avatar - Lottery-028.jpg

    United States
    Member #55246
    September 20, 2007
    225 Posts
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    Posted: October 26, 2009, 10:46 pm - IP Logged

    Frankly, I don't know what to do with 200+ millions. I will pray first... so I will know what to do next. 

    I know what to do with a million though... pay all my debts and whatever is left- give half, keep half...

      s5thomps's avatar - Lottery-033.jpg
      Hard Luck, Ak
      United States
      Member #23472
      October 13, 2005
      275 Posts
      Offline
      Posted: October 27, 2009, 8:21 am - IP Logged

      Frankly, I don't know what to do with 200+ millions. I will pray first... so I will know what to do next. 

      I know what to do with a million though... pay all my debts and whatever is left- give half, keep half...

      I agee with Jack Pot, Personally I don't need to win 200 million dollars. I would be just as happy with 5 million after taxes. There are several things that I would do with my new found wealth and giving thanks to God would be on the top of my list. Then I would follow 2 rules of Warren Buffett.     

                                                           1. DO NOT LOSE MONEY

                                                           2. DON'T FORGET RULE # 1 

      Now I know that Warren Buffet has lost money in the stock market, when the economy went south, But he can afford to take those setbacks. I would invest moderately and not take unnecessary chances in high risk investments. Get good sound financial advice and live my life as low key as possible. I don't need a bunch of expensive cars and houses to be happy. (Remember what happened to David Lee Edwards who won the powerball in 01) "This money is a blessing which will last my family for generations"  Well we all know how that story turned out. Unhappy

      " NO ONE CAN SERVE TWO MASTERS.  EITHER HE WILL HATE THE ONE AND LOVE THE OTHER, OR HE WILL BE DEVOTED TO THE ONE AND DESPISE THE OTHER. YOU CANNOT SERVE BOTH GOD AND MONEY."

                                                                                  Matthew 6:24

        bigato1010's avatar - army

        United States
        Member #33588
        February 22, 2006
        2068 Posts
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        Posted: October 28, 2009, 5:41 pm - IP Logged

        Wait till i hit it will let you know Wink

        '' Inteligence quod consensio = Prosperitas "       Sun Smiley

          dk1421's avatar - Lottery-024.jpg
          North Carolina
          United States
          Member #64582
          September 1, 2008
          347 Posts
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          Posted: October 28, 2009, 9:25 pm - IP Logged

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

          Agreed savagegoose!!! :-)

          Honestly, many people here are probably smarter than some financial people out there. Get the advice from here, then go interviewing accountants and financial advisors, using some of the ideas people talk about here.

          "Don't be a schmuck, always take the cash." -Coin Toss

            dk1421's avatar - Lottery-024.jpg
            North Carolina
            United States
            Member #64582
            September 1, 2008
            347 Posts
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            Posted: October 28, 2009, 9:32 pm - IP Logged

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

            Agreed savagegoose!!! :-)

            Honestly, many people here are probably smarter than some financial people out there. Get the advice from here, then go interviewing accountants and financial advisors, using some of the ideas people talk about here.

            "Don't be a schmuck, always take the cash." -Coin Toss

              dk1421's avatar - Lottery-024.jpg
              North Carolina
              United States
              Member #64582
              September 1, 2008
              347 Posts
              Offline
              Posted: October 28, 2009, 9:33 pm - IP Logged

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

              Agreed savagegoose!!! :-)

              Honestly, many people here are probably smarter than some financial people out there. Get the advice from here, then go interviewing accountants and financial advisors, using some of the ideas people talk about here.

              "Don't be a schmuck, always take the cash." -Coin Toss

                lottocalgal's avatar - Lottery-043.jpg
                CA
                United States
                Member #57222
                December 23, 2007
                587 Posts
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                Posted: October 30, 2009, 10:20 am - IP Logged

                I AGREE

                I would be happy with about 5  ( or 10) million after taxes.  I would  NOT quit my current job because i truly love it there.  I was blessed with that one ( thank you God.)  I would simple put it in a standard Cdars bank and earn the minimal interest  after building my dream ( non mansion) home and  "normal" car for both my husband and myself.

                Speaking of  David Lee edwards.  Don't you think he went a bit overboard with the things he bought?  I watch "overnight millionairs" and E!'s  "curse of the lottery"  and wonder at his purchases , I mean 1900 swords and 800 knives?  and $150k  patio statue? a $75k dolphin table?  Multiple $8k armani dolls?    I think the most extravant "unneccessary" puchase I'd make would probably be a 85 " Panasonic Plasma  which cost about $$45,000.    I know that's stupid  but   that really would be the only thing.  And I wouldnt go out a buy 4, just one.  I think we all know the kind of people we are at heart and spirit and  just because money comes in,  excpet for my one tv, I would still think like a bargain shopper.   besides,  I'm not in to  crazy stuff or expensive cars, trips, clothes or any of that crap.  I'd also finally be able to buy  the best computer parts and build the ultimate machine without thinking of price first.  But with what I want in a machine, I'd still only be looking at about $2500.    David Edwards was crazy!  My church and other charities would definately get a cut but not enough to bankrupt me. Wish all of you lotto luck!!!  one of us will hit! I feel it!

                  benmas's avatar - waveform
                  Rhode Island
                  United States
                  Member #56010
                  October 28, 2007
                  434 Posts
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                  Posted: October 31, 2009, 12:51 am - IP Logged

                  buy a house, furniture, clothes, cars...after i done so in like 6 months, things will slow down and life will start to be kinda boring...because my friends and neighbors will be jelous, people will ask for money, and pretty much most good relationships i had will change or be done cause i will not be common folk anymore and the money will get in between...things will be different and i will be lonely and sad...will need to spend on security for the house and myself and family.. the worst part: my kids will probably be spoiled with money they never had to earn or work hard for (this will be true no matter what i try to do)...all this excessive stuff i will try to get because i always wanted it but could not afford until now...probably open a restaurant so i can be involved in doing smth like work cause home will become boring in a year or so...5 years down the line will get used to all the rich <snip> and probably regret it....200 mill is way over the top for a guy like me..it will bring some bad things with it along with the goods...1 mill or two will be just right...the rest is excessive

                  This post has been automatically changed by the Lottery Post computer system to remove inappropriate content and/or spam.

                    myzeus's avatar - Apollo
                    Ohio
                    United States
                    Member #59677
                    March 24, 2008
                    78 Posts
                    Offline
                    Posted: October 31, 2009, 2:47 am - IP Logged

                    First, I'd be in shock and extremely happy.

                    I would thank GOD for answering my prayers.

                    I would tell no one.

                    I would make sure that I signed the back of the ticket.

                    Make multiple copies of the ticket.

                    Rent a safety deposit box at the bank and keep it there until I decide when to claim it.

                    Then I need to search for a good and trustworthy estate lawyer and CPA and listen to their advice.

                    Set up an LLC and possibly a blind trust.

                    When I claim it, I will claim it in the name of the LLC or Trust.

                    I'd pay off all my bills.

                    Since the economy is still so bad, I will not invest much in the stock market, instead I will invest in real estate, buy some Hotels and/or Apartment Complexes and have more built. Although, I'd like to help out some people who are going through forclosure by buying their houses and then they can make payments to me at lower payments and interest rates. That way they can stay in their homes.

                    I would move into a better neighborhood and have a nice new house that is in the $350,000 - 1 Mil range. If neighbors ask me how I make my money, I will tell them I inherited a Trust from an Aunt or Uncle.

                    I will probably get a new mini van and a cargo van to carry my rottweilers in. No expensive cars for me, although I would like to have a new black Cadillac Escalade.

                    I am sure there's more I would do because it would be a full time job for me to find places to invest it. I would have so much fun with it.

                    Sandy

                      Avatar
                      New Member
                      Charlotte North Carolina
                      United States
                      Member #81017
                      October 9, 2009
                      7 Posts
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                      Posted: October 31, 2009, 2:50 am - IP Logged

                      give some money to all my family relatives because we all came from war and everything was destroyed during the war. buy new car, house.  and see every soccer game LIVE, i am going to see one in november 14th  BOSNIA AND PORTUGAL LIVE. LIVE.    visit every 50 states here in USA, then travel around the world for rest of my life. spend some money on women yeaaa. some money . lol.

                        savagegoose's avatar - ProfilePho
                        adelaide sa
                        Australia
                        Member #37136
                        April 11, 2006
                        3300 Posts
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                        Posted: October 31, 2009, 8:45 am - IP Logged

                        theres a small coastal town not far from here. and a guest house on the reverse side of the dunes. at night you can hear the waves crashing ashore. you can go walk the beach and if you even see someone its the exception. the pub had a good cook last time I was there to. maybe id buy a dog for company.

                        i could prob waste 6 months of my life walkin that beach, listing to those waves. Just thinking about what i would do with $200 mill. Maybe i would never know. but there would be no need to own that pub,the guest house or the beach.

                        2014 = -1016; 2015= -1409; 2016 JAN = -106; FEB= -81; MAR= -131; APR= - 87: MAY= -91; JUN= -39; JUL=-134; AUG= -124; SEP = -123; OCT= -84  NOV=- 73 TOT= -3498

                        keno historic = -2291 ; 2015= -603; 2016= JAN=-32, FEB= +12 , MAR= -86, APR = -77. MAY= -48, JUN= -29, JUL=-71; AUG = -52; SEPT= -43; OCT = +56 NOV = -33 TOT= -3297

                          rcbbuckeye's avatar - Lottery-043.jpg
                          Texas
                          United States
                          Member #55889
                          October 23, 2007
                          5603 Posts
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                          Posted: November 3, 2009, 8:35 am - IP Logged

                          After the dust settled, I would buy the furniture company I work for.................

                           

                          NOT. LOL.

                           

                          I don't know exactly what I would do, but I would just stick the money in CD's and live off the interest. No wild investments, no stock market.  Just nice and conservative.

                            rdgrnr's avatar - walt
                            Way back up in them dadgum hills, son!
                            United States
                            Member #73904
                            April 28, 2009
                            14903 Posts
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                            Posted: November 3, 2009, 10:03 am - IP Logged

                            If I won 200+ millions, I would get legal help to establish a tax exempt foundation to foster a no-kill shelter for dogs and cats (and other animals) in Tennessee.

                            There are a lot of heartless people in this state when it comes to animals.

                            I don't support the large animal welfare agencies we have now because of their meddling in gun rights and hunting rights. I wish they would just stick to taking care of the animals in their care and stay out of politics.

                            I would have an agency devoted 100% to the care of animals in distress and nothing else.

                            I have taken in strays all of my life and sometimes it just gets overwhelming and there are extremely few places you can take a precious animal and not have it wind up euthanized.

                            If successful, I would try to establish this foundation and no-kill shelters in every state.

                            You could never find a more loyal, loving friend than a dog and it's a shame the way they are treated in this country.


                                                                         
                                                 
                                                                     

                             

                             

                             

                             

                                                                                                                               

                            "The only thing necessary for evil to triumph is for good men to do nothing"

                                                                                                                        --Edmund Burke

                             

                             

                              Avatar
                              Milwaukee, WI
                              United States
                              Member #3131
                              December 27, 2003
                              665 Posts
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                              Posted: November 7, 2009, 2:23 am - IP Logged

                              I have enough thought out, that I would be on the lottery doorstep when it opens.

                              I would still buy from the dollar store! I love dollar stores!

                              Buy my remote, but not too remote ranch. And build my self supporting house, expensive to build,cheap to maintain,solar,wind,geothermal,greenhouse,swimmin' pool.

                              Set up my brokerage account and buy commodity stocks until my eyes bleed.  Focusing on investing for charity would be my reason to be on earth, market open 7:30am to 2PM .  I live relatively cheap.

                              Otherwise use the "KISS" system! Everything will work itself out generally....

                              MarkP