1.6 billion dollars

[Lioness~]

I just love being a Canadian...
Only problem I'd have is finding a matteress big enough to stuff my winnings in so as to avoid the taxes on the interest.

According to the Canada Revenue Agency's windfall rules, if you win money from a lottery, you do not have to report the winnings nor pay tax on those funds. The CRA has not instituted a cap or limit on these winnings. However, if your winnings earn interest, the interest amounts will be subject to taxation.

Canada is great
But go with a vault instead. Plan bigger

 

[ucfgrad93]

One winning ticket sold in South Carolina. I wonder if it was a solo purchase or with a group of other people.

 

[Huntn]

We pooled at work and bought a ton of tickets. I would get $32 million (minus whatever taxes and fees). I cannot even conceive of what I would do with that much money. $1.6 billion? That's just wrong. I don't even WANT that much money.

They are really screwing up these lotterys and missing a chance to stimulate the economy. How? If my math is right, instead of having a $1.6B jackpot, why not have a cap of $10M, with the first 160 combination of numbers rolled, there would have been 160 winners of $10M each.

 

[C DM]

They are really screwing up these lotterys and missing a chance to stimulate the economy. How? If my math is right, instead of having a $1.6B jackpot, why not have a cap of $10M, with the first 160 combination of numbers rolled, there would have been 160 winners of $10M each.

Not as exciting essentially.

 

[senseless]

I bought a ticket last week, but lost it. Probably fate stepping in.

 

[Apple fanboy]

I’m sure I could live off a million. Interest would be significant.
Or buy about 10 properties and rent them out.

 

[C DM]

I’m sure I could live off a million. Interest would be significant.
Or buy about 10 properties and rent them out.

A million sure means different things in different places.

 

[Huntn]

Not as exciting essentially.

I’d be plenty excited if that amount ($10M) fell in my lap.

 

[C DM]

I’d be plenty excited if that amount ($10M) fell in my lap.

Definitely. But as a phenomenon that would get people taking and really wanting to go out and buy more tickets and all that, I guess the excitement level isn't the same (even though it should be potbelly even more in the sense that the odds of winning a decently large prize should be higher).

 

[Huntn]

Definitely. But as a phenomenon that would get people taking and really wanting to go out and buy more tickets and all that, I guess the excitement level isn't the same (even though it should be potbelly even more in the sense that the odds of winning a decently large prize should be higher).

$1.6B is obscene for any one person to have. I don’t believe it is good for you.

 

[0388631]

Nah, depends on the person. I don't think my attitude towards money has changed one iota in my life, and we're pretty well off. If I had a billion dollars to burn through at my leisure, I'd probably buy up land and make a reserve of some sort, donate money to build schools or improve ones in the area, scholarship funds for children who do well, etc. Investing money in real estate or indexes when they're very low so you do well down the line is another good option. Ideally, you'll also want to hire someone to manage your money. A few banks offer private, non-advertised services for high net worth clients that operate as a separate entity. They'll also give out large loans because they know you're good for it.

Granted if you're handed everything in life and don't work an actual job because your parents were too soft on you like certain grown men in their 70s with an alpaca for a haircut, then yes, you're going to be a jackass.