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How would you tell your spouse that you won the lottery?

Topic closed. 28 replies. Last post 3 years ago by CDanaT.

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United States
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August 28, 2004
36 Posts
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Posted: December 15, 2013, 8:33 pm - IP Logged

Since Its Christmas, I guess I'll wrap up that big giant check and stick it under the tree.

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    United States
    Member #135804
    November 29, 2012
    316 Posts
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    Posted: December 15, 2013, 8:52 pm - IP Logged

    This is not a problem or blessing I have to worry about...I am freshly divorced so that money will be mine...all mine and Uncle Sam's of course.  Of course, Obamacare will get his 3.8 percent...but only once since I would highly consider relinquishing my US citizenship after winning.

    3.8% doesn't include lottery winnings.

    Expatriation tax is as if all your investments (including houses) were cashed out liquid the day prior to your renounciation, you would then pay all capital gains taxes owed immediately - even if you haven't actually sold the assets. They may bar you from re-entering at any time, but that hasn't been enforced so far. You also would have a tough time visiting friends back in the U.S. If you overstay 31 days per year in the U.S. for the 10 years following expatriation, you will have to pay income taxes for that year.

    It would get lonely very fast in whichever countries out there that give citizenship by investment (Cyprus, Antigua & Barbuda, Dominica, St. Kitts & Nevis for example). The only appealing one is Malta, which would give you access to the entire EU. Austria and Belgium take a lot longer of a process and require substantial investment over several years or work visa first, then residency then citizenship. I also hear that the U.S. government may make it difficult to renounce if you will become a stateless person (meaning you haven't set up permanent residency with another country).

      haymaker's avatar - Lottery-012.jpg
      Egg Harbor twp.south Jersey shore
      United States
      Member #112968
      June 29, 2011
      3850 Posts
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      Posted: December 15, 2013, 10:24 pm - IP Logged

      I guess she would figure it out after stopped going to work. LOL

      Extraordinary Popular Delusions & the Madness of Crowds    -- Charles Mackay  LL.D.

        dk1421's avatar - Lottery-024.jpg
        North Carolina
        United States
        Member #64582
        September 1, 2008
        347 Posts
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        Posted: December 15, 2013, 10:56 pm - IP Logged

        This is a good question. I have actually pondered how I would tell my spouse. However, it depends on when it happens: during the week (Tues MM & Wed PB) or the weekend (Fri MM & Sat PB). 

        If he's at work, I'll call him and ask him to go to a closed office with his computer. Then I'll tell him to go to the MM website and I'll read off the numbers I have and he can tell me how close we are.  ;-)

        Seriously, I will either be pointing to the ticket and not able to speak or I will be calm and cool. In an emergency, usually I am calm and cool - but is winning the lottery like being in an emergency where your body goes into overdrive?

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

          ttech10's avatar - blobdude
          Texas
          United States
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          June 5, 2010
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          Posted: December 16, 2013, 12:24 am - IP Logged

          No spouse, but I know the first person to know would be either my mom or brother. Whichever way I told them, I know for sure it would be done in a casual manner and something like 1-3 weeks after the win (so they won't be thinking I won).

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            New York,
            Panama
            Member #73078
            April 4, 2009
            3490 Posts
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            Posted: December 16, 2013, 4:42 am - IP Logged

            I would cook her favorite dinner over candle light.  After dinner I would tell her. Smile

             

            Party

            BananaAbsolutely, Positively Yes, I would buy a Huge bag of Pennies and

            tell him There are a lot more where those came from!!Love! LOL give him a big kiss!

            forget what "they" say about youWhat you say about you?...

            Now, does it count??

             

             

            *Jr$ina

              rdgrnr's avatar - walt
              Way back up in them dadgum hills, son!
              United States
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              April 28, 2009
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              Posted: December 16, 2013, 12:32 pm - IP Logged

              I would cook her favorite dinner over candle light.  After dinner I would tell her. Smile

               

              Party

              Use the stove instead.

              It would take forever to cook a dinner over a candle.

              And she'd think you were nuts.

                Pita Maha's avatar - 940d8157 d1fb-4f70-a715-6ad04d915489.jpg
                SW Florida
                United States
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                August 11, 2013
                152 Posts
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                Posted: December 16, 2013, 1:00 pm - IP Logged

                Use the stove instead.

                It would take forever to cook a dinner over a candle.

                And she'd think you were nuts.

                LOL!  You're very sharp. Thumbs Up

                 

                Me, I'd just tell him as soon as I was certain I'd won.  I'd likely have to tell him to keep his mouth shut though because he's the blabbermouth in the family, always telling everyone everything whether they're interested or not.  Love him to bits though.

                  Artemis's avatar - Alice
                  New England
                  United States
                  Member #100508
                  November 13, 2010
                  96 Posts
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                  Posted: December 17, 2013, 5:50 am - IP Logged

                  Green laugh

                    OldSchoolPa's avatar - Lottery-057.jpg
                    Gurnee, Illinois
                    United States
                    Member #49731
                    February 12, 2007
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                    Posted: January 12, 2014, 8:32 am - IP Logged

                    3.8% doesn't include lottery winnings.

                    Expatriation tax is as if all your investments (including houses) were cashed out liquid the day prior to your renounciation, you would then pay all capital gains taxes owed immediately - even if you haven't actually sold the assets. They may bar you from re-entering at any time, but that hasn't been enforced so far. You also would have a tough time visiting friends back in the U.S. If you overstay 31 days per year in the U.S. for the 10 years following expatriation, you will have to pay income taxes for that year.

                    It would get lonely very fast in whichever countries out there that give citizenship by investment (Cyprus, Antigua & Barbuda, Dominica, St. Kitts & Nevis for example). The only appealing one is Malta, which would give you access to the entire EU. Austria and Belgium take a lot longer of a process and require substantial investment over several years or work visa first, then residency then citizenship. I also hear that the U.S. government may make it difficult to renounce if you will become a stateless person (meaning you haven't set up permanent residency with another country).

                    I should have been more concise in my answer. When I win the lottery, I would not be like those who only focus on SPENDING the money. When meeting with my legal and financial team of advisors, my focus would be on investing my net proceeds so that the interest, dividends, and capital gains would fund my lifestyle. By never touching the principle investment, and with exception of initial win receipt, even paying my tax liability out of the annual gain, I would never go broke. Before making any move, I would always consult my team of advisors. 

                    So I am well aware the 3.8 percent tax does not apply to lottery winnings. But as long as Obamacare remains "the law of the land", then the gains of my subsequent year investments would be subject to that surcharge tax. Also the expatriation tax is aimed at those who attempt to evade paying current tax liability. I would not fall in the categories listed on IRS.gov. 

                    My decision would not be motivated by dislike of US or evading taxes. Rather, I have actually spent more time living outside the US the past 2 years, and I know I can handle it. My passion is visiting different places so I hardly see living outside the US as boring. Before I relinquish my citizenship, I would visit all of the national parks on my bucket list and other noteworthy venues. That way,I would have no reason to have to come back. I only see US government growing bigger and bigger, and it is only a matter of time before the effective tax rate on high income earners reach or exceed 75 percent. I want to be out of that equation. 

                    Toronto, have you ever heard of any rich, handsome, socially adept and sane man being lonely? I have never been lonely anywhere I have gone so I never get homesick. Also, the fact one can find US expatriates all over the world tells me my thirst for travel and adventure makes me more akin to them than the other lounge-in-front-of-TV, chill-out-on-the-porch type of Americans. Once I end my government service, I would also entertain dual citizenship (I cannot do that right now).

                    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!

                      Elizabeth03's avatar - cat anm.gif
                      Nova Scotia
                      Canada
                      Member #9934
                      December 27, 2004
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                      Posted: January 12, 2014, 9:09 am - IP Logged

                      Not everybody want's to tell a spouse; they want to keep the money win to themselve's, or if they want to get out of the marriage, they leave the house and go to the lottery corporation..

                      I am not married, so would not want to tell too many people that I won..

                      I would be relieved and finally be able to move away to somewhere else..

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                        LAKE HAVASU AZ
                        United States
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                        August 8, 2006
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                        Posted: January 12, 2014, 10:21 am - IP Logged

                        I would just tell him, I think we're rich.

                        .............YEP.............

                        some day....some day

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                          CST
                          United States
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                          March 23, 2013
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                          Posted: January 20, 2014, 6:15 pm - IP Logged

                          How would you tell your spouse that you won the lottery?

                           

                          Me: "Hey honey, we won the lottery"

                            CDanaT's avatar - tiger avatar_04_hd_pictures_169016.jpg
                            TX
                            United States
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                            January 4, 2012
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                            Posted: January 20, 2014, 6:35 pm - IP Logged

                            I think I would have the mrs.(aka the war department) come sit infront of the computer with the website on the screen and hand her the ticket to have her read the numbers just so I could watch her pass out Red Devil(j/k)

                            I would probably tell her we are going on a Southwest flight...She would probably ask "why Southwest ? "
                            I would simply tell her,"Cause bags fly free"  LOL

                            Stay Positive, Believe and good things will come your way