What would you do if you won a $300 mil jackpot?Prev Topic Next Topic

New Topic New Poll

noise-gate

* In hot pursuit of $ *

White Shores- California
United States
Member #136,471
December 12, 2012
7,040 Posts
Offline

Jan 30, 2019, 6:17 pm

Thoughts?

Make it a good year people & above all else: Stay Healthy!

* Voice of Reason *

* People who say it cannot be done should not interrupt those who are doing it- George Bernard Shaw.
TheMeatman2005

Brooklyn, NY
United States
Member #169,716
October 29, 2015
1,700 Posts
Offline

Jan 30, 2019, 8:49 pm

Is that $300 mil the annuity amount or the cash value?

First of all, I would get a financial team together because either way....it's a lot of money!

My brother and I both play and have agreed that whoever wins will split with the other, so I get 50% of the $300 mil or $180 cash value.

Second, I would pay off all my debts.

Third, buy a new car. I have never owned a New car.

After that, it's clear sailing for the rest of my life.

The Meatman 🥩🍗🍔🍖🍤🌭

“The quickest way to double your money is to fold it in half and put it in your back pocket.” Will Rogers

Winning happens in a flash, Like A Bolt Of Lightning!
noise-gate

* In hot pursuit of $ *

White Shores- California
United States
Member #136,471
December 12, 2012
7,040 Posts
Offline

Jan 30, 2019, 9:24 pm

Quote: Originally posted by TheMeatman2005 on Jan 30, 2019
Is that $300 mil the annuity amount or the cash value?

First of all, I would get a financial team together because either way....it's a lot of money!

My brother and I both play and have agreed that whoever wins will split with the other, so I get 50% of the $300 mil or $180 cash value.

Second, I would pay off all my debts.

Third, buy a new car. I have never owned a New car.

After that, it's clear sailing for the rest of my life.

It's hard, intoxicating cash. It's the amount you looking at after * all is said and done. If asked" Do you want us to count it for ya Tmm?" You say " Nope, that looks like $300mil to me."

Think of that scene in Breaking Bad, where Walter White is looking at the money in that metal container. That's right there is your reference point.

* Voice of Reason *

* People who say it cannot be done should not interrupt those who are doing it- George Bernard Shaw.
Lildarryl

South Carolina
United States
Member #155,837
May 31, 2014
2,001 Posts
Offline

Jan 30, 2019, 9:40 pm

Give it to church

my name Lil Darryl you got some Milk
noise-gate

* In hot pursuit of $ *

White Shores- California
United States
Member #136,471
December 12, 2012
7,040 Posts
Offline

Jan 30, 2019, 9:44 pm

* Voice of Reason *

* People who say it cannot be done should not interrupt those who are doing it- George Bernard Shaw.
Raven62

25

New Jersey
United States
Member #17,842
June 28, 2005
180,983 Posts
Offline

Jan 30, 2019, 11:18 pm

Quote: Originally posted by noise-gate on Jan 30, 2019
Thoughts?

Make it a good year people & above all else: Stay Healthy!

https://www.lotterypost.com/search/forums?q=%22what+would+you+do+if+you+won%22&t=all

A mind once stretched by a new idea never returns to its original dimensions!

Catch-22: A dilemma or difficult circumstance from which there is no escape because of mutually conflicting or dependent conditions.

Corruptissima re publica plurimae leges: When the republic is at its most corrupt the laws are most numerous.

The best way to learn is to never stop being an Experiential Student!
Lildarryl

South Carolina
United States
Member #155,837
May 31, 2014
2,001 Posts
Offline

Jan 30, 2019, 11:21 pm

He deserves one. Wonderful pastor

my name Lil Darryl you got some Milk
CDanaT

Central TN
United States
Member #121,187
January 4, 2012
7,771 Posts
Offline

Feb 1, 2019, 10:38 am

Here's what I wouldn't do:

https://www.bankrate.com/finance/personal-finance/lottery-winners-who-went-broke-1.aspx#slide=2

Si vis pacem, para bellum.
noise-gate

* In hot pursuit of $ *

White Shores- California
United States
Member #136,471
December 12, 2012
7,040 Posts
Offline

Feb 1, 2019, 2:27 pm

Quote: Originally posted by CDanaT on Feb 1, 2019
Here's what I wouldn't do:

https://www.bankrate.com/finance/personal-finance/lottery-winners-who-went-broke-1.aspx#slide=2

What a concatenated piece CD. Looking back, l should have gone with " What should you not do if you win a $300 mil jackpot."

Life is a lesson in of itself.From David Lee Edwards to Mike Tyson.

* Voice of Reason *

* People who say it cannot be done should not interrupt those who are doing it- George Bernard Shaw.
Raven62

25

New Jersey
United States
Member #17,842
June 28, 2005
180,983 Posts
Offline

Feb 1, 2019, 3:34 pm

Quote: Originally posted by noise-gate on Jan 30, 2019
Thoughts?

Make it a good year people & above all else: Stay Healthy!

For the inquiring minds that are interested in additional information:

https://www.lotterypost.com/search/forums?q=%22what+would+you+do%22&t=all

A mind once stretched by a new idea never returns to its original dimensions!

Catch-22: A dilemma or difficult circumstance from which there is no escape because of mutually conflicting or dependent conditions.

Corruptissima re publica plurimae leges: When the republic is at its most corrupt the laws are most numerous.

The best way to learn is to never stop being an Experiential Student!
Stack47

Kentucky
United States
Member #32,651
February 14, 2006
10,302 Posts
Offline

Feb 1, 2019, 7:38 pm

Quote: Originally posted by noise-gate on Feb 1, 2019
What a concatenated piece CD. Looking back, l should have gone with " What should you not do if you win a $300 mil jackpot."

Life is a lesson in of itself.From David Lee Edwards to Mike Tyson.

Former UK basketball player Antoine Walker lost around $100 million he earned playing in the NBA so add another poster boy for making bad monetary decisions.

"What would you do?"

After changing my underwear, I'd sign the back of the ticket, call lottery headquarters and get the ticket validated. But what about "talking to a tax lawyer first" or hiring a "team of financial advisers"?

Regardless what a brother-in-law tax expert says, a set rate Federal and any state taxes will be deducted off the top, but you'll need a good lawyer/CPA when you file Federal taxes the following year. I wonder how many people that suggest hiring a team of financial advisers actually have one now. Call any of the 1.5 billion Google results and ask for suggestions on how to invest up to $300 million, but don't say you don't have the money or they probably suggest calling back when you do.

The reality is most state lottery claiming forms ask if you owe and child support, back taxes, court orders etc. just winning over $601 and that will be addressed regardless how a player decides to claim. I doubt any good lawyer will say claiming via a trust excuse any passed debts as some the "all winnings should be totally anonymous" people here seem to believe.

My lottery dream house if a suite in the 5-star hotel where I'm staying.
gregpost

United States
Member #195,628
February 1, 2019
4 Posts
Offline

Feb 1, 2019, 7:45 pm

Sleep
Rexer90

LA Ca.
United States
Member #172,743
February 3, 2016
189 Posts
Offline

Feb 1, 2019, 11:36 pm

Add a significant number of the names to the list of people who can kiss my ass.
KY Floyd

NY
United States
Member #23,834
October 16, 2005
4,777 Posts
Offline

Feb 2, 2019, 2:15 pm

"Is that $300 mil the annuity amount or the cash value?"

If the SC winner is an individual they should clear more than $490 million, but so far nobody has taken home more than about $275 million. That's what Mavis Wanczyk would have cleared after paying state and federal taxes at the highest rates on the $480 million cash value. We'll continue to see the occasional giant jackpots and increasing records, but the chances of clearing $300 million are far smaller than the already minuscule chance of winning any jackpot.

"My brother and I both play and have agreed that whoever wins will split with the other"

If you want that agreement to matter you'd better treat it like any other pool, put it in writing, and have it notarized. Just an agreement probably won't mean anything at all when the IRS is looking to collect taxes.
noise-gate

* In hot pursuit of $ *

White Shores- California
United States
Member #136,471
December 12, 2012
7,040 Posts
Offline

Feb 2, 2019, 2:54 pm

" If you want that agreement to matter you'd better treat it like any other pool, put it in writing, and have it notarized."

* Voice of Reason *

* People who say it cannot be done should not interrupt those who are doing it- George Bernard Shaw.

New Topic New Poll

Subscribe to this topic

What would you do if you won a $300 mil jackpot?Prev TopicNext Topic

What would you do if you won a $300 mil jackpot?Prev Topic Next Topic