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Best place for a large Lottery Winners to Live

Topic closed. 25 replies. Last post 6 years ago by myzeus.

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Coin Toss's avatar - shape barbed.jpg
Zeta Reticuli Star System
United States
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January 17, 2006
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Posted: August 4, 2010, 11:47 pm - IP Logged

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

A lighthouse sounds good, too.

Those who run the lotteries love it when players look for consistency in something that's designed not to have any.

Lep

There is one and only one 'proven' system, and that is to book the action. No matter the game, let the players pick their own losers.

    four4me's avatar - gate1
    MD
    United States
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    June 18, 2003
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    Posted: August 5, 2010, 12:03 am - IP Logged

    The best place would probably be a gated community.

    Big John says. You don't hit the number. The number hits you!!!!

                   I'm not Big John, I'm Four4me, Big John's a friend.
      sully16's avatar - sharan
      Ringleader
      Michigan
      United States
      Member #81740
      October 28, 2009
      40564 Posts
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      Posted: August 5, 2010, 7:12 am - IP Logged

      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.

      Did you exchange a walk on part in the war ?

      For a lead role in a cage?

       

                                                  From Pink Floyd's " Wish you were here"

        ttech10's avatar - blobdude
        Texas
        United States
        Member #92330
        June 5, 2010
        887 Posts
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        Posted: August 5, 2010, 7:43 am - IP Logged

        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.

        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 advice, is recommended before the prize is claimed, especially for larger prizes or those prizes that are paid by installments. If you choose to claim the prize as a trust, partnership, or other legal entity, the legal documents that create the legal entity must be submitted for review to the Texas Lottery's Legal Services Division before claiming your prize. This is required to ensure the documents comply with the State Lottery Act and the Commission's administrative rules. If you claim your prize as any entity other than an individual, a Federal Employer Identification Number (FEIN) is required."

         

        It may delay the claiming for a bit but since you'd be claiming anonymously and wouldn't have to deal with everything other known winners have to deal with it would be worth it.

          ttech10's avatar - blobdude
          Texas
          United States
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          June 5, 2010
          887 Posts
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          Posted: August 5, 2010, 7:52 am - IP Logged

          "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 neighborhood.

          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 friends, but in reality they look at you differently and can be very jealous).

           

          Either way, if I ever won I would claim as a blind trust and have a back story as to how I came about my money. Plus I wouldn't be that bothered to be an outsider in the neighborhood for a bit (if I didn't claim anonymously), it would give me some peace after having to deal with media and other moochers. Don't see me doing that, though.

           

          I guess if someone would have problems where they couldn't claim anonymously then they move to a different city or even state as your entire town will know who you are and it's likely that a lot of people in your state would as well. Maybe move to where you wouldn't have to come in contact with our neighbors much.

            OldSchoolPa's avatar - Lottery-057.jpg
            Gurnee, Illinois
            United States
            Member #49731
            February 12, 2007
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            Posted: August 5, 2010, 8:17 pm - IP Logged

            "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 posted on the internet is there forever!

            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.

            Get MONEY!!! Winning a JACKPOT lottery is all the HOPE and CHANGE I desire!!!  NOW give me MONEY!US Flag

            The guy who won the presidency in 2008 really won the lottery...he is now millions richer, travels in first class style, and even has a staff that would be the envy of the richest Powerball winner (she has a staff of 2). Every night he goes to sleep, he probably plays the close of Dave Chappelle's Show: I'm rich beyatch!

              Avatar
              Milwaukee, WI
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              December 27, 2003
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              Posted: August 5, 2010, 10:14 pm - IP Logged

              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 no legislative plan to implement any of these types of taxes.

              MarkP

                ttech10's avatar - blobdude
                Texas
                United States
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                June 5, 2010
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                Posted: August 6, 2010, 1:02 am - IP Logged

                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 no legislative plan to implement any of these types of taxes.

                MarkP

                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 secluded and you have a mix of weather from hot summers to cold (sometimes snowy) winters. It's also pretty centered so there wouldn't be as long a travel to other parts of the US as if you were on the east/west coast and traveling to the opposite site. Then you have sports teams that do pretty well. Plus, it's one of the most affordable states.

                 

                According to research conducted by the Missouri Economic Research and Information Center, the 10 most affordable states in the US are:

                1. Oklahoma
                2. Texas
                3. Tennessee
                4. Arkansas
                5. Nebraska
                6. South Dakota
                7. Missouri
                8. Kansas
                9. Georgia
                10. Mississippi
                  Avatar
                  Milwaukee, WI
                  United States
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                  December 27, 2003
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                  Posted: August 7, 2010, 1:55 am - IP Logged

                  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 at one of these places.

                  http://www.eranches.com/ranchesacreage.htm

                  Imagine 7,000 acres all to myself!

                  And I have the weather figured out for myself.

                  My future house has an indoor pool as a center point of the house, with an indoor greenhouse where I can maintain my garden year round, the house would have its own power supply and heat from the ground. Only connections to the outside world would be an internet connection and a grid tie to unload my extra power.

                  Climate controlled summer year round. 

                  Major cities? Rapid city is as big as I want to get.

                  Oh, give me a home where the buffalo roam
                  Where the deer and the antelope play
                  Where seldom is heard a discouraging word
                  And the skies are not cloudy all day

                  MarkP

                    Coin Toss's avatar - shape barbed.jpg
                    Zeta Reticuli Star System
                    United States
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                    Posted: August 7, 2010, 2:25 am - IP Logged

                    ttech10

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

                    1. Oklahoma           Tornado alley, miserable summers
                    2. Texas                         "                         "
                    3. Tennessee
                    4. Arkansas                   "                          "
                    5. Nebraska                  "
                    6. South Dakota
                    7. Missouri                    "                          "
                    8. Kansas                     "
                    9. Georgia                                        really miserable summers
                    10. Mississippi                                    pathetically miserable sunners!

                     

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

                    Those who run the lotteries love it when players look for consistency in something that's designed not to have any.

                    Lep

                    There is one and only one 'proven' system, and that is to book the action. No matter the game, let the players pick their own losers.

                      myzeus's avatar - Apollo
                      Ohio
                      United States
                      Member #59677
                      March 24, 2008
                      78 Posts
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                      Posted: August 8, 2010, 12:55 am - IP Logged

                      I would move to Beverly Hills.

                      Sandy