You just hit the Powerball jackpot...

Discussion in 'Community Discussion' started by Simgar988, Apr 7, 2010.

  1. Simgar988 macrumors 65816

    Simgar988

    Joined:
    Jul 22, 2009
    Location:
    UYBAATC
    #1
    Now what? You take the lump sum and have 60 million bucks to your name all of a sudden.

    What are you going to do next? Where are you going to go? What are you going to buy? How are you going to invest?

    edit: Out of all the people that would be interested in obtaining your new fortune, I feel like it would be hard to know how to handle siblings in this scenario, especially if they are high school college age. You would want to, and they would probably expect you to help them out, but at the same time, you don't want the idea that they can just do whatever with their life now because their bro/sis is a rich sob.

    what do you think?
     
  2. ravenvii macrumors 604

    ravenvii

    Joined:
    Mar 17, 2004
    Location:
    Melenkurion Skyweir
    #2
    I'll just put it in the bank and live off the interest.

    At 2% (you can do better than that, but I'm being conservative), you get $1.2 million a year.
     
  3. rdowns macrumors Penryn

    rdowns

    Joined:
    Jul 11, 2003
    #3
    I'd buy MacRumors from Arn and ban all the members I don't like. :rolleyes:
     
  4. kellen macrumors 68020

    kellen

    Joined:
    Aug 11, 2006
    Location:
    Seattle, WA
    #4
    Condo, pay off loans and a new or newer car. But I would do the car first, then get my finances in order first before doing anything extravagant.

    I am still in school and would like to finish that, but who knows if I would. Things would probably get weird if people found out.
     
  5. Abstract macrumors Penryn

    Abstract

    Joined:
    Dec 27, 2002
    Location:
    Location Location Location
    #5
    I'd give waloshin demi status for his threads. Ah hell, Demi-ship for everyone! :p It'll probably get me banned by rdowns, but it would be my parting gift.


    On second thought, Teh Privates are already a bit too full.....
     
  6. RudyGrow macrumors regular

    Joined:
    Dec 12, 2009
    #6
    Put it down my pants, keep it a secret, go to the lottery HQ, get my money, change my name and move to my own island.
     
  7. eawmp1 macrumors 601

    eawmp1

    Joined:
    Feb 19, 2008
    Location:
    FL
    #7
    1) Lotteries are taxes for those who are ignorant of statistics.
    2) Having been said...wouldn't touch the principal. Would invest and live off a portion of the interest/dividends and do some good in the world with the rest.
     
  8. IntheNet macrumors regular

    IntheNet

    Joined:
    Oct 6, 2009
    #8
    Make a $59 million campaign contribution to a certain 2012 presidential candidate I know...
     
  9. eawmp1 macrumors 601

    eawmp1

    Joined:
    Feb 19, 2008
    Location:
    FL
    #9
    1) Amazing you can take a non political topic and morph it to your political cause
    2) You would then be in violation of federal campaign contribution laws: http://www.fec.gov/pages/brochures/citizens.shtml
     
  10. Aeolius macrumors 6502a

    Joined:
    Jul 25, 2002
    #10
    Covered in Prior Thread:

    1) Pay off all outstanding debts, bills, and mortgages
    2) Set aside funds for my children’s education (I have 8 kids) and my retirement
    3) Improvements to existing house and grounds (lots to fix and finish, here)
    4) Establish a trust that would purchase contiguous properties as they became available (I have my eye on a 6 acre tract and an 8 acre tract)
    5) Establish a trust that would fund electronic payment of utilities, groceries, and the like
    6) Establish a trust that would retrofit my current home with alternative energy solutions in 10 years or so
    7) Employ a maid, handyman/groundskeeper, and farmhand (I live on 20 acres)
    8) Establish a handful of small businesses in the local community
    9) Purchase a few beachfront properties to use for vacations and as rental income, invest in seasteading
    10) Donate to charities of my choosing

    If there's anything left, I want a Studebaker or three. ;)
     
  11. ethical macrumors 68000

    Joined:
    Dec 22, 2007
    #11
    That's probably the most serious and thought-out plan in this thread. Sound like a nice plan though!
     
  12. pivo6 macrumors 68000

    pivo6

    Joined:
    Dec 2, 2002
    Location:
    Minnesota
  13. Jett0516 macrumors 6502a

    Jett0516

    Joined:
    Mar 5, 2010
    #13
    if I win...I would buy everyone in this thread....a macbook pro.

    you can take that to the bank. :)
     
  14. flopticalcube macrumors G4

    flopticalcube

    Joined:
    Sep 7, 2006
    Location:
    In the velcro closure of America's Hat
    #14
    You have a better chance of dying tomorrow than winning. Its a mug's game.
     
  15. velocityg4 macrumors 68040

    velocityg4

    Joined:
    Dec 19, 2004
    Location:
    Georgia
    #15
    Assuming the $60 million the net winnings after taxes and being paid all at once.

    10% to Friends (to close friends)
    10% to extended family (Aunts, Uncles and Grandparents. Any cousins can get money from Aunts/Uncles)
    15% to Siblings and Parents
    10% to Church (Would probably fund building new churches directly)
    10% for immediate purchase (House with acreage, Car, Appliances, Furniture &c)
    5% for other charities and contributions to lobbying groups I agree with (NRA, EFF &c)

    Remaining 40% would be invested so that I could continue to live quite comfortably and if invested right increase the amount saved to a rate which will allow the balance to keep pace with or better yet surpass inflation for any children I have to eventually inherit.
     
  16. ejb190 macrumors 65816

    ejb190

    #16
    First thing's first - Talk to my accountant and lawyer.

    Probably tie most of the money up in a series of trusts and endowments to make sure it leaves a lasting legacy...
     
  17. heehee macrumors 68020

    heehee

    Joined:
    Jul 31, 2006
    Location:
    Same country as Santa Claus
    #17
    $60 Million is not enough for what I want to do, so I won't talk aboot it. :rolleyes:
     
  18. niuniu macrumors 68020

    niuniu

    Joined:
    Mar 29, 2009
    Location:
    A man of the people. The right sort of people.
    #18
    Posting just in case he's wins something :D

    ---------

    I'd give a lot of it to family, put a big lump of it into my existing business and have the girlfriend take it over. I'd spend the rest of my days investing and privateer racing. Nothing fancy, and it's a life I could live without winning the lotto I guess.

    That said, you never know what interests you might develop as you get older.
     
  19. bigjnyc macrumors 603

    bigjnyc

    Joined:
    Apr 10, 2008
    #19
    I would take 40million and invest in tax free municipal bonds you can probably get some nice long term insured bonds for 4.25% right now so I would be getting 1.7 million a year completely tax free for doing nothing.

    I would invest 5 million a little more aggresively in the equities market

    I would stash 5 million in a checking account for spending on toys, like a nice house, car, apple products and everyday living expenses

    I would take 5 million and hand out to my closest family and friends

    and my last 5 million I would bury in a nice safe savings account.
     
  20. Melrose Suspended

    Melrose

    Joined:
    Dec 12, 2007
    #20
    Put in a balanced investment portfolio and earn around 8-12% a year, half of which would go to charity and the other half would let me live like I want, and the remainder of the investment be left to my kids.

    well, maybe I'd buy myself a Scottish castle. I've always liked those. I'd throw one heck of a moving-in party and invite all the demis for a week of partying, single malt, and haggis. :cool:
     
  21. steve2112 macrumors 68040

    steve2112

    Joined:
    Feb 20, 2009
    Location:
    East of Lyra, Northwest of Pegasus
  22. yg17 macrumors G5

    yg17

    Joined:
    Aug 1, 2004
    Location:
    St. Louis, MO
    #22
    I would relax. I would sit on my ass all day. I would do nothing.

    60 times.
     
  23. MultiM macrumors 6502

    MultiM

    Joined:
    May 9, 2006
    Location:
    TO. I've moved!
    #23
    I'd buy an annuity that gives me (and the wife) a guaranteed income over the next 40 years, make sure the step-kids have some, and probably my Mom. 1 or 2 mil on the side for cash purchases. Sibs and the rest can look after themselves...
     
  24. Antares macrumors 68000

    Antares

    #24
    • Pay all my debts.
    • Give a portion to family to pay their debts + some free spend money .
    • Set aside a portion to fund several business ideas that I have.
    • Buy some land in Oregon and build a deep forest vacation cabin.
    • Also buy some land around the country as investment property.
    • Invest a large portion in securities (stocks and bonds)
    • Buy a new car and home.
    • Fund/donate or start a charity.
    • Put any remaining money into a CD and savings.
     
  25. Burnsey macrumors 6502a

    Joined:
    Jul 1, 2007
    Location:
    Canada
    #25
    And you would have wasted every single cent. If you want to donate it donate it to people or organizations that actually make a difference in the world and have some value.
     

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