Sorry, I'm not so desperate for a handout to never have to raise a finger in life againThe smart millionaires keep working, there's a thing as self-actualization.
oh god, canadians.
Got a tip for us?
Let us know
Become a MacRumors Supporter for $50/year with no ads, ability to filter front page stories, and private forums.
$600 mil USD. How would you handle winning?
- Thread starter CaptHenryMorgan
- Start date
- Sort by reaction score
oh god, canadians.
Probably succumb to some psychological disorder out of paranoia that everyone who speaks to me is just interested in my money.
Remember though, 80% of lottery winners go broke because 100% of lottery players are idiots
Your statistic of 80% of lottery winners go broke sounded false to me so I checked it out. holy cow, its actually more, according to this article. 90% of lottery winners spend all the money in the first five years. 90%!!!! That's crazy that so many people don't understand how money works.
http://bucks.blogs.nytimes.com/2012/12/03/a-financial-plan-for-misbehaving-lottery-winners/
Sorry, I'm not so desperate for a handout to never have to raise a finger in life again
vindication of exactly what i mentioned. youre better than everyone who plays the lottery, good for you and your snobbery.
if you think anyone and everyone who plays the lottery is a looking-for-a-handout liberal, then you are the fool.
Not really. They spent money to enter the lottery in the first place. From a statistical or return-on-investment viewpoint, that's a money-losing proposition.
Considered as a hobby or sport, it's still not an odds-beating opportunity. You'd have better luck painting a masterpiece that sold for $1 million.
Since I just got my PB tickets, I admit to fantasizing how I'd spend it. Cash payoff is about $375 M.
First, I'd go talk to my financial adviser.
Second, I'd give each member of my immediate family $1 million, probably make it enough so that after they paid taxes, they'd have a million, maybe more. In some cases I'd consider giving it to a lawyer to dole it out to them in a responsible fashion.
Thirdly, I'd establish trust funds for both of my grand children and put some stipulation that they must finish college or something like that on it.
Forth, I'd buy a place in the mountains, one on the beach, and maybe one somewhere in Europe as long as it falls within the financial plan my adviser approves.
Fifth, I'd think about some charity donations, but I'd have to put a lot more thought into it than what a post like this deserves.
First, I'd go talk to my financial adviser.
Second, I'd give each member of my immediate family $1 million, probably make it enough so that after they paid taxes, they'd have a million, maybe more. In some cases I'd consider giving it to a lawyer to dole it out to them in a responsible fashion.
Thirdly, I'd establish trust funds for both of my grand children and put some stipulation that they must finish college or something like that on it.
Forth, I'd buy a place in the mountains, one on the beach, and maybe one somewhere in Europe as long as it falls within the financial plan my adviser approves.
Fifth, I'd think about some charity donations, but I'd have to put a lot more thought into it than what a post like this deserves.
If asked before reading up more, I would have assumed that most people know how little odds they have to ever win any life changing amount and that they would know how if you just keep spending, without proper investment, your money will disappear. Maybe I'm just projecting how I feel cause the more I read about people who blew their winnings, the sadder I feel about the intelligence of my fellow people. I mean, is it really so hard to put 5 million away in some safe 401k like account and just live off of the interest or whatever.....
****....
Buy myself a nice place to live first of all. I wouldn't move countries, I just want to be in a nice area and have a nice penthouse apartment.
Then I need a car. I'm thinking a Bentley. And a Rolls-Royce. And an Aston Martin.
Next I get a new phone. Silly I know but I've needed to replace my phone for ages, my current one is pretty much on its last legs. So I'd go to a CPW and buy one of each flagship phone: SGS4, HTC One, iPhone 5, BB Z10 and Q10, and Nokia Lumia 920. While I'm at it I might as well buy a fully specced out MBP and Mac Pro too, why the hell not?
Wouldn't really need to bother paying off my student loans since they only come out of wages and I wouldn't need to work
I'd donate some to various charities but I'd want to make a donation of a few million every year rather than a stupid sum all in one go.
Of course I'd give a few million to family members and close friends too. And some of my friends are working on a business, I'd probably invest a bit in them so they can grow it faster.
As far as publicity goes, I wouldn't go as far as to make everyone sign NDAs but I wouldn't run to the media either, I'd just try to keep it on the downlow.
And urm I think that's it, clean my trousers maybe?
----------
Then I need a car. I'm thinking a Bentley. And a Rolls-Royce. And an Aston Martin.
Next I get a new phone. Silly I know but I've needed to replace my phone for ages, my current one is pretty much on its last legs. So I'd go to a CPW and buy one of each flagship phone: SGS4, HTC One, iPhone 5, BB Z10 and Q10, and Nokia Lumia 920. While I'm at it I might as well buy a fully specced out MBP and Mac Pro too, why the hell not?
Wouldn't really need to bother paying off my student loans since they only come out of wages and I wouldn't need to work
I'd donate some to various charities but I'd want to make a donation of a few million every year rather than a stupid sum all in one go.
Of course I'd give a few million to family members and close friends too. And some of my friends are working on a business, I'd probably invest a bit in them so they can grow it faster.
As far as publicity goes, I wouldn't go as far as to make everyone sign NDAs but I wouldn't run to the media either, I'd just try to keep it on the downlow.
And urm I think that's it, clean my trousers maybe?
----------
Secrecy and privacy is primary. I'd talk to a lawyer before making any admissions. I'm curious if anyone would worry about being kidnapped and ransom prospects? Would it make you feel more insecure when out and about?
That'd only really happen if you go on TV and tell everyone who you are when you win the lottery. Anyone who does that is an idiot.
Its proof that someone actually wins. If every winner was unnamed the conspiracy nuts would say no one ever actually wins.
All kinds of win in this post.
----------
You could set up a trust and have it claim the money. Common tactic.
I'd carry on working and wouldn't say a thing, until one day when somebody just pissed me off I'd just get up and say I'm off!
I'd buy a new car or two, design and build my dream house, And take up some hobbies that cost a lot of money. Like flying or car racing.
Mostly though I would get the best help for my daughter with her education and special needs, and make sure she was secure for life. Everything else is immaterial really.
If there was anything left after that it would go to helping the needy in the third world and Autism charities at home.
I'd buy a new car or two, design and build my dream house, And take up some hobbies that cost a lot of money. Like flying or car racing.
Mostly though I would get the best help for my daughter with her education and special needs, and make sure she was secure for life. Everything else is immaterial really.
If there was anything left after that it would go to helping the needy in the third world and Autism charities at home.
That's so weird though. If they force winners to reveal their identities they are potentially putting people at risk.
It should be a choice. There are still plenty of people who choose to reveal their identities, it just shouldn't be forced.
Besides, conspiracy theorists would no doubt claim the people who claim to be winners are all government plants or whatever anyway.
1. pay off my debts (student & condo)
2. quit my dayjob
3. move to: A Beautiful Place Out In The Country
4. make music & pictures full time
2. quit my dayjob
3. move to: A Beautiful Place Out In The Country
4. make music & pictures full time
True. I also think that there are so many big winners nowadays and so many other rich people, the risk is pretty low. I read a book once that when they first started states lotteries and people won a million bucks or so (maybe even less), there were a lot of cases of people who did feel put upon by families and strangers who all demanded some of the money. It was hell for a lot of the winners, people would just show up at their doorsteps asking for money.
1. pay off my debts (student & condo)
2. quit my dayjob
3. move to: A Beautiful Place Out In The Country
Image
4. make music & pictures full time
I'd add some mountains in the distance...
I'd add some mountains in the distance...
yeah, I could live with that too...
(of course I would donate away most of the money and most of all I would - if possible - keep it all a secret for almost everyone... )
Fair enough then, I hope they change the policy. I'm in the UK and here it's the same nationwide - you choose whether or not to go public. Same goes for the Euromillions too.
I play both Mega Millions and Powerball every drawing, I've had the same number since January 2009.
I find $6 a week a very small price to pay to be able to live in a space where four days of every single week there's a chance that that evening I'll win millions of dollars. I'm very productive and motivated in my business, and it doesn't make me unhappy with how little I have, or unmotivated because I assume I'll win anyway... it just let's me live in this space where at any moment I could just be plucked right out of the rat race. It's a nice feeling.
I find $6 a week a very small price to pay to be able to live in a space where four days of every single week there's a chance that that evening I'll win millions of dollars. I'm very productive and motivated in my business, and it doesn't make me unhappy with how little I have, or unmotivated because I assume I'll win anyway... it just let's me live in this space where at any moment I could just be plucked right out of the rat race. It's a nice feeling.
Sorry, I'm not so desperate for a handout to never have to raise a finger in life again
I don't know if there are enough
emoticons for this. The other thing I want to know is who actually up-voted this?Are you actually saying that if someone offered you a large sum of money, that you wouldn't take it because you're better than that?
If you can make $380 million disappear in a lifetime, you have some very real problems.
That is just shocking. I don't understand how some people can blow through double-digit millions in just a few years. I honestly don't get it. What the hell do they spend this money on??
I'd take it. But I don't play the lottery religiously like some people and hope that there's a chance that I'm given everything so that I don't have to do anything more in life. Yeah it'd be great, but having a lot of money isn't what would complete my life.