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Are you ready for the attention?

Topic closed. 184 replies. Last post 1 year ago by AlecWest.

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Do you REALLY want to win a billion dollar jackpot?

Yes [ 79 ]  [70.54%]
No [ 14 ]  [12.50%]
Would rather share such a huge prize. [ 19 ]  [16.96%]
Total Valid Votes [ 112 ]  
Discarded Votes [ 4 ]  
ArizonaDream's avatar - Lottery-009.jpg

United States
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October 10, 2015
630 Posts
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Posted: January 10, 2016, 11:03 pm - IP Logged

I found the page that says 5% http://www.powerball.com/powerball/pb_howtoplay.asp

(pb graduated annuity)

    AlecWest's avatar - alec
    Vader, Washington
    United States
    Member #29697
    January 5, 2006
    108 Posts
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    Posted: January 10, 2016, 11:03 pm - IP Logged

    lejardin --- I agree with you about the "too much money" part.  I've always felt that too much money in the hands of one person is obscene.  My goodness, there are 3rd world countries that don't have billion dollar budgets.  I once joked about security software entrepreneur, John McAfee, who was accused of murder while he was living in Belize ... suggesting that McAfee was so rich, he could hire mercenaries to take over Belize and install himself as absolute dictator.  Fortunately, I think he's probably a bit too addle-brained (at the moment) to even consider it.

    But I do disagree with the "team of advisors" part.  If you've not been to my "LuckyYou" site yet, click on my username to see the site address on my profile page.  I recommended that people take online financial planner training to become their own financial planner, giving links to Boston University & Pepperdine University who offer these courses.  And if you visit the site, scroll down to the Final Words heading to see my reasons for making that recommendation.

    Primarily because of the "too much money" reason, I'd probably end up taking the annuity ... setting up an irrevocable living trust to that would invest in the SCI Index ... allowing me to take out the money I needed (my needs are small) and divvying up what's left between a list of pre-determined charities/non-profits after I die - while preventing relatives from "fighting over" the estate after I die (grin).

      Teddi's avatar - Lottery-008.jpg

      United States
      Member #142499
      May 13, 2013
      1200 Posts
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      Posted: January 10, 2016, 11:57 pm - IP Logged

      Ooops, my post didnt reply to you Teddi....

      Well although I agree, I have another committal to a split.  Even with a split, it is just too much money for one person, I admit I would be overwhelmed and unprepared to deal with it all. That team of advisers would be a necessity Idea.  But I can assure you I will be out of the media, and a good thing I like myself because I can be alone lol, just me, my security system, self protection and my Doberman Pinscher aka toy poodle.

      I already had to eat my words today when I said I didnt think this thing would EVER get to a billion.  It will be interesting to see what the jackpot will be at drawtime.  Just like last night went to $949,000,000 sum odd cents at final.  Either way it is over my comprehension so I shall continue to live in la la land.

      Good Luck to us.Cheers

      For a few minutes I did think maybe I wouldn't want to be the sole winner of a jackpot this size. I'd be a very boring person to follow around for the first few months so while reporters might tire of me, who knows who will come sliding out of the woodwork to get their 15 minutes at my expense. 

      Plus, how I'd planned to manage the money would need massive readjustments because this is more than I ever considered.

      But then I realized that this is about the same amount Mark Cuban got from selling his company to Yahoo. About what Markus Persson got for selling Minecraft to Microsoft. In perspective it doesn't seem that unmanageable. If those geeky social misfits can handle overnight, completely unexpected fame and fortune, why can't I?

      I might wake up early and go running.  I might also wake up and win the lottery.

      The odds are about the same.

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        United States
        Member #972
        December 30, 2002
        465 Posts
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        Posted: January 11, 2016, 12:06 am - IP Logged

        I would say: I am not ready for it and probably no one really is. But I am getting a few tickets anyway. All I (and probably many people) want is to have say $5 million to be able to quit work, have a nice house, be able to travel and have some fun and get some nice things and help a few friends. I think I could deal with the money, assuming I had good lawyers and investment people to keep it safe; that would be figures on a screen and sort of abstract to me. What would be hard to deal with would be all the attention and requests that I help anyone and everyone, so much need and desperation and sad stories both real and fake, the constant financial target I would become if my name was out there. As "the biggest winner of all time" your name will not fade into obscurity as fast as other winners. This will not be a regular huge jackpot win - this is the super bowl of jackpots and you pretty much have to somehow prepare for a super bowl level of attention to follow you around for a long time. You could most likely escape it by being smart and moving and completely changing your life, but once you quit your job, move from a place you are comfortable in and instantly become famous/notorious, how will you feel? You might feel like The Man Who Fell To Earth in Walter Tevis' classic novel, who was also really rich - alienated, isolated and far from home.  Your life will never be normal again, in ways both good and bad. 

          Romancandle's avatar - moon
          Upacreek
          United States
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          December 8, 2012
          431 Posts
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          Posted: January 11, 2016, 12:07 am - IP Logged

          For a few minutes I did think maybe I wouldn't want to be the sole winner of a jackpot this size. I'd be a very boring person to follow around for the first few months so while reporters might tire of me, who knows who will come sliding out of the woodwork to get their 15 minutes at my expense. 

          Plus, how I'd planned to manage the money would need massive readjustments because this is more than I ever considered.

          But then I realized that this is about the same amount Mark Cuban got from selling his company to Yahoo. About what Markus Persson got for selling Minecraft to Microsoft. In perspective it doesn't seem that unmanageable. If those geeky social misfits can handle overnight, completely unexpected fame and fortune, why can't I?

          Based on some of your responses Teddi, something tells me you would NOT be a boring person for the press LOL

          AlecWest, Great webpage... looks like a lot of work went into that.

          Learning how to be a financial planner while concurrently dealing with a billion $ jackpot windfall would be challenging for most folks.

          -RC

            AlecWest's avatar - alec
            Vader, Washington
            United States
            Member #29697
            January 5, 2006
            108 Posts
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            Posted: January 11, 2016, 12:17 am - IP Logged

            I found the page that says 5% http://www.powerball.com/powerball/pb_howtoplay.asp

            (pb graduated annuity)

            Interesting.  One Powerball site page that says 4% and another that says 5%.  I wonder which page is correct - and I wonder which percentage the graduated payment pages use.  Their webmaster obviously doesn't know that he's published conflicting info on the site.  I just sent an email to them (c/o their webmaster) to see which is correct and which is not.  I also asked which percentage was used on the "graduated payment" pages showing payments over the 29 years - state by state.   I hope he doesn't have to update a "bunch" of pages.  If and when I get a reply, I'll post it here.

              lejardin's avatar - Lottery-014.jpg

              United States
              Member #118609
              November 4, 2011
              1076 Posts
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              Posted: January 11, 2016, 12:42 am - IP Logged

              lejardin --- I agree with you about the "too much money" part.  I've always felt that too much money in the hands of one person is obscene.  My goodness, there are 3rd world countries that don't have billion dollar budgets.  I once joked about security software entrepreneur, John McAfee, who was accused of murder while he was living in Belize ... suggesting that McAfee was so rich, he could hire mercenaries to take over Belize and install himself as absolute dictator.  Fortunately, I think he's probably a bit too addle-brained (at the moment) to even consider it.

              But I do disagree with the "team of advisors" part.  If you've not been to my "LuckyYou" site yet, click on my username to see the site address on my profile page.  I recommended that people take online financial planner training to become their own financial planner, giving links to Boston University & Pepperdine University who offer these courses.  And if you visit the site, scroll down to the Final Words heading to see my reasons for making that recommendation.

              Primarily because of the "too much money" reason, I'd probably end up taking the annuity ... setting up an irrevocable living trust to that would invest in the SCI Index ... allowing me to take out the money I needed (my needs are small) and divvying up what's left between a list of pre-determined charities/non-profits after I die - while preventing relatives from "fighting over" the estate after I die (grin).

              Hi Alec, thank you for your website, I have already been there and read it.  Lot of excellent information.  I have thought about volunteering at a credit union etc. to gain experience and see the angle from the financial side, specifically CDARS investing but the key word is "overwhelming".  The idea of doing so when winning a part of a record breaking amount of money is out of the question right off. 

              Now that I thought about and ironically, I just signed up today through my church to take Dave Ramsey's financial freedom study course, maybe that is an OMEN? 

                lejardin's avatar - Lottery-014.jpg

                United States
                Member #118609
                November 4, 2011
                1076 Posts
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                Posted: January 11, 2016, 12:59 am - IP Logged

                For a few minutes I did think maybe I wouldn't want to be the sole winner of a jackpot this size. I'd be a very boring person to follow around for the first few months so while reporters might tire of me, who knows who will come sliding out of the woodwork to get their 15 minutes at my expense. 

                Plus, how I'd planned to manage the money would need massive readjustments because this is more than I ever considered.

                But then I realized that this is about the same amount Mark Cuban got from selling his company to Yahoo. About what Markus Persson got for selling Minecraft to Microsoft. In perspective it doesn't seem that unmanageable. If those geeky social misfits can handle overnight, completely unexpected fame and fortune, why can't I?

                Lol I wouldnt be a boring person to follow around because they wouldnt see me out and about hahahaha, hibernate ring a bell? Poke

                Money management readjustments absolutely, who thot we would see these amounts?  It is really crazy.  There are so many unscrupulous people out there with a line of bs, how you protect yourself is questionnable at best.  As for cuban etc., they want something I dont and I will do whatever it takes to avoid and that is fame.  I will be in self imposed isolation, that will suit me fine, of course if I am lucky enough to blessed with just a piece of a pie.

                  AlecWest's avatar - alec
                  Vader, Washington
                  United States
                  Member #29697
                  January 5, 2006
                  108 Posts
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                  Posted: January 11, 2016, 1:03 am - IP Logged

                  Based on some of your responses Teddi, something tells me you would NOT be a boring person for the press LOL

                  AlecWest, Great webpage... looks like a lot of work went into that.

                  Learning how to be a financial planner while concurrently dealing with a billion $ jackpot windfall would be challenging for most folks.

                  Thanks.  It is (and always has been) a work in progress.  Interestingly, over the last 10 years, the site only had roughly 26,000 visitors.  But over the last week, 9,000 more visitors showed up.  Somebody must have mentioned it to a few people causing this snowball of visitors.

                  I've pretty much decided that, if I was the sole winner, I'd take the annuity.  According to my state's graduated payment table, my first check would only be $19,566,866 (pre-tax).  Their "after taxes" amount only reflects the 25% mandatory withholding tax.  Using my "real" tax rate (according to Forbes Magazine), I'd only end up with $11,697,857.31.

                  $11 million would be manageable ... allowing me to set up the irrevocable living trust I'd want to set up.  Future payments would, more or less, be handled in a cookie-cutter fashion to get the money into the trust.

                    AlecWest's avatar - alec
                    Vader, Washington
                    United States
                    Member #29697
                    January 5, 2006
                    108 Posts
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                    Posted: January 11, 2016, 1:06 am - IP Logged

                    Hi Alec, thank you for your website, I have already been there and read it.  Lot of excellent information.  I have thought about volunteering at a credit union etc. to gain experience and see the angle from the financial side, specifically CDARS investing but the key word is "overwhelming".  The idea of doing so when winning a part of a record breaking amount of money is out of the question right off. 

                    Now that I thought about and ironically, I just signed up today through my church to take Dave Ramsey's financial freedom study course, maybe that is an OMEN? 

                    Go for it (the Dave Ramsey course).  There's no such thing as too much financial planning knowledge.

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                      New Member
                      Kansas
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                      December 1, 2012
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                      Posted: January 11, 2016, 1:11 am - IP Logged

                      Being in Kansas I would claim anonymously, but seeing as how there have only been 11 jackpot winners since Powerball started here in 1989 I won't hold my breath that my 1 little ticket will win the big one. I can say I at least managed to win $100 back in 2014. It is fun to day dream about winning and being able to live financially secure.

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                        NY
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                        October 16, 2005
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                        Posted: January 11, 2016, 1:52 am - IP Logged

                        Interesting.  One Powerball site page that says 4% and another that says 5%.  I wonder which page is correct - and I wonder which percentage the graduated payment pages use.  Their webmaster obviously doesn't know that he's published conflicting info on the site.  I just sent an email to them (c/o their webmaster) to see which is correct and which is not.  I also asked which percentage was used on the "graduated payment" pages showing payments over the 29 years - state by state.   I hope he doesn't have to update a "bunch" of pages.  If and when I get a reply, I'll post it here.

                        You can find an annuity schedule (for the last drawing, but it's easy enough to adjust in a spreadsheet), along with some other interesting info on the TX lottery website. It agrees with the 5% annual increase, with the related math checking out.

                        http://www.txlottery.org/export/sites/lottery/Documents/jackpotestimates/pb20160109.pdf

                          AlecWest's avatar - alec
                          Vader, Washington
                          United States
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                          Posted: January 11, 2016, 2:03 am - IP Logged

                          You can find an annuity schedule (for the last drawing, but it's easy enough to adjust in a spreadsheet), along with some other interesting info on the TX lottery website. It agrees with the 5% annual increase, with the related math checking out.

                          http://www.txlottery.org/export/sites/lottery/Documents/jackpotestimates/pb20160109.pdf

                          Good.  I hope the Powerball site webmaster fixes the erroneous page showing 4%.  If they don't, it isn't because they weren't informed.

                            sirbrad's avatar - Lottery-062.jpg
                            PA
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                            October 6, 2005
                            2226 Posts
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                            Posted: January 11, 2016, 3:12 am - IP Logged

                            Interesting.  One Powerball site page that says 4% and another that says 5%.  I wonder which page is correct - and I wonder which percentage the graduated payment pages use.  Their webmaster obviously doesn't know that he's published conflicting info on the site.  I just sent an email to them (c/o their webmaster) to see which is correct and which is not.  I also asked which percentage was used on the "graduated payment" pages showing payments over the 29 years - state by state.   I hope he doesn't have to update a "bunch" of pages.  If and when I get a reply, I'll post it here.

                            You can also see the annuity break down here and full payment schedule.

                            https://www.usamega.com/powerball-jackpot.asp

                              sirbrad's avatar - Lottery-062.jpg
                              PA
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                              Posted: January 11, 2016, 3:45 am - IP Logged

                              Hi Alec, thank you for your website, I have already been there and read it.  Lot of excellent information.  I have thought about volunteering at a credit union etc. to gain experience and see the angle from the financial side, specifically CDARS investing but the key word is "overwhelming".  The idea of doing so when winning a part of a record breaking amount of money is out of the question right off. 

                              Now that I thought about and ironically, I just signed up today through my church to take Dave Ramsey's financial freedom study course, maybe that is an OMEN? 

                              I also recommend the book "Infinite Financial Freedom - What To Do Before and After You Win the Lottery" It is from 1994 but most of the information is still relevant. But you also don;t want to get too complicated or your win will end up a huge burden. With this amount of money I would never spend all the principle anyway, but if I wanted I could invest in tax free Government bonds or high yield bonds etc. But honestly after the first year I would be set as I am well prepared. I used to work at a bank also and have been self-employed for 25 years now so I know a thing or two about finance. Cool

                                 
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