How would you break up your winnings?Prev TopicNext Topic

• JackpotWanna

  

  United States
  Member #4,121
  March 23, 2004
  819 Posts
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  Mar 24, 2004, 11:55 am

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  Buying nice real estate buildings for additional cash flow. 30%
  
  Helping people. 20%
  
  In Saving and Checking accounts. 15%
  
  Start a small business 10%
  
  Family and friends. 10%
  
  Stocks. 10%
  
  High Yield Bonds. 5%
  
  
  
  
• weshar75

  

  Mcminnville, Oregon
  United States
  Member #3,013
  December 13, 2003
  6,173 Posts
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  Mar 24, 2004, 12:46 pm

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  I would spend the maximum gift legally allowed by the irs which is 11,000 dollars to my family/friends and the rest I would live it up.  New trucks and higher lines of credit. 
• JackpotWanna

  

  United States
  Member #4,121
  March 23, 2004
  819 Posts
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  Mar 24, 2004, 12:49 pm

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  I see. maximum gift legally allowed by the irs which is 11,000 dollar per person?
• mayan27

  

  Minnesota
  United States
  Member #2,426
  October 2, 2003
  84 Posts
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  Mar 24, 2004, 3:27 pm

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        JACKPOTWANNA,i wish you could talk personally to my family and give me more ideas on sharing my winnings with family members because everyone of them feels they are entitle to million dollars whenever i win the jackpot.For instance.i said one day when i win the lottery,i will at least paid off everyone debts and give at least everyone 10,000 to start up with and you believe what a commotion it was for making such a comment.I mean everone went off on me like the family black sheep.I was like what is really gonna happen when my windfall comes?There is going to be war in my family and my you, they strongly speak against playing lottery.ANYONE CAN POST A COMMENT IN MY MAIL BOX REGARDING THIS AND I WILL SURELY APPRECIATE IT.
• prob987

  

  New Jersey
  United States
  Member #3,457
  January 22, 2004
  248 Posts
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  Mar 24, 2004, 3:56 pm

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  I would put lots of money in overseas investments, because hyperinflation always follows huge balance of payments deficits accompanied by redistribution of wealth and government deficits.  People think that the United States cannot face the same consequences as did many South American nations but they are basically wrong.

  I would buy stocks in foreign currencies, some US stocks, and quite a bit of (uninflatable) property.

  If we ever have a sane government again, I would of course, bring my money home and help us rebuild from this disaster, the worst of which we have not yet seen.

  I would create a charitable donation fund with investments similar to my personal portfolio, as well as a fund for my extended family with the same conditions.

  I would divide my Bush tax break between the political campaigns that seek to arrest the severe decline our country has been experiencing the last three years and to fund things that I think ought to be government responsibilities but are not currently funded.  Most of the latter would be environmental and investment in our young.
• megamillionaire

  

  Queens, NY
  United States
  Member #245
  April 15, 2002
  451 Posts
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  Mar 24, 2004, 5:48 pm

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  Depending on your age, if you want to give your immediate family more, make the ticket a family ticket. By that I mean let those you want to give more to chip in for the ticket and collect their share directly from the lottery sans taxes. Then put your share in T-bills and tax free Muni's. 

  Megamillionaire

  Time is a wonderful teacher, but it kills all its students.

  A man must consider what a rich realm he leaves when he becomes a conformist.
• JackpotWanna

  

  United States
  Member #4,121
  March 23, 2004
  819 Posts
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  Mar 24, 2004, 6:04 pm

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  Nope....
  
  
  
  11,0000 is enough and maybe a dinner party. :-P
• Thomas Covenant

  

  South Carolina
  United States
  Member #491
  July 16, 2002
  837 Posts
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  Mar 24, 2004, 6:52 pm

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  I would move to a country that doesn't have an estate (death) tax and then expatriate. That would still take some planning because the US can still tax you up to 10 years.

  
  Okay, now I believe you can predict lottery numbers