Joined Jan 2006
L8: Grand Teacher
Forum Thread
Record breaking U.S. Lottery is this Friday: $640 million Grand prize
March 27, 2012 at
11:23 PM
With no winner tonight, Mega Million's grand prize has shattered the record books and will be the largest U.S. lotto prize ever at $640 million taking place this Friday (3/30/12). Your odds of winning are 1 in 176 million. Will anyone here defy the statistical probability and buy a ticket? Would you tell anyone you won (You likely don't have a choice, with the exception of 6 or 7 states you legally have to come forward publicly to claim your prize. The 6 or 7 states with exceptions allows a trust to claim it for the person thus protecting their true identity). Finally what would you do with a couple hundred million?
I'd like to spend my days making my own cheese and start a nut farm (my favorite food) if you're feeling generous with your winnings.
I'd like to spend my days making my own cheese and start a nut farm (my favorite food) if you're feeling generous with your winnings.
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Last Edited by stettin
March 30, 2012
at
10:49 AM
Payout is over 26 years! Better to invest:
641,325,785.92 = $175 million invested at 5% interest rate
1,396,315,866.20 = $175 million invested at 8% interest rate
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What would I do: Set aside some for my daughter's education. Buy a bigger house. Take some vacations. Start a scholarship fund so a deserving student could go to college.
But I would still come on SD and shop for bargains.
If I can protect my identity I would, I havent looked that far in to it.
The first thing I would do is hire a financial planner to make sure I am maximizing the way my money works. Second is a boys trip to Rio (or some place bad ass) where we blow it out. I would set them each up with $1 million or some investment based on advice from my finance guy. After my trip its time to visit my parents and set them up to be able to retire now (instead of a few years down the road), and visit my grandparents and see what I can do to make their lives better.
I would buy a nice chunk of land and build a fairly modest 5 bedroom home. Probably ranch style, maybe have a guest house, or pool house. I would have a a mack daddy basement and every "toy" I have ever wanted.
I would probably send my daughter to culinary school. Not in France though. She is not allowed to go to Europe without me thanks to the movie Taken (jk... kind of... )
As for my newly found free time (since I wont be going to my 9-5 any more), I think I would lean toward some charitable work, or getting a lawn mower and cutting the football fields grass like Forrest Gump.
I would pay off my house, finally finish all the repairs on it. Pay off my dad's farm. Buy my aunt's farm land and give it to my dad.
Get my grandma out of the nursing home and back into her house with private in house care.
Maybe buy a cottage on a lake.
I'd only win about 10% of it, so I'd clear about $25 Mil
I'd #1 pay off all my debts, free and clear, and get a second car (start with a 2013 Fusion most likely).
I'd take my family and my wife's on a big cruise, probably Alaska. There would be 10 of us, easily manageable...
Set up an account getting 3% and live off of that for the rest of my life. We all decided we would not quit our jobs right away, that we would sit in for a couple of months to get everything in order, let them back fill our positions, and then get out.
I'll say, even if you hit a couple and get the Hundred Thousand prize, be careful. My FIL hit the jackpot on an instant win...and died 10 years later enrolled in AA, w/o his medical licence, divorced, and $100k in debt.
Financial planner is #1 priority. Setting up a trust to stay out of the spotlight would be great but not sure if my state allows it. I'd still work at my current job for a few weeks after announcing my win...you know for the healthcare and because I can quit at any time!
Fun things I'd do:
Get a pilots license. Helicopter and various planes.
Trip into outerspace.
Hire Bruce Campbell for some random weekend.
Crash an Indy car.
Take a crap in Zero G. Prolly one of those planes that do the fake no gravity tests.
Publish a number for all my old "friends and family" to call and beg for money. That shit has got to be good for major laughs.
Go into politics.
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I would do the same thing.
Obligatory:
Pay off Phrozty's house, my parent's house, set up a bigger college fund for the kid, and get a really good lawyer for Phrozt to win custody. After that, probably continue working for a while, get a better bed, then go back to school to get my doctorate. Invest some money in doing fun house repairs. Then start traveling some, visit fam and friends and travel around Europe. Maybe buy a slightly bigger house. Start looking into charities, etc...Marry Phrozty. I don't really want my life to change much, I love my job and the life I have, it would just be awesome not to have to worry about money.
j/k, I know what you mean.