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Wed Dec 11, 2013, 08:05 AM

 

Mega Millions is up to 400 million dollars!

What would you do if you won that much money?

37 replies, 2379 views

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Reply Mega Millions is up to 400 million dollars! (Original post)
B Calm Dec 2013 OP
Locut0s Dec 2013 #1
rurallib Dec 2013 #17
Chan790 Dec 2013 #2
B Calm Dec 2013 #5
In_The_Wind Dec 2013 #7
Brigid Dec 2013 #11
B Calm Dec 2013 #13
DebJ Dec 2013 #3
B Calm Dec 2013 #10
Locut0s Dec 2013 #23
DebJ Dec 2013 #27
MissMillie Dec 2013 #4
B Calm Dec 2013 #8
Locut0s Dec 2013 #24
In_The_Wind Dec 2013 #6
DebJ Dec 2013 #28
In_The_Wind Dec 2013 #30
DinahMoeHum Dec 2013 #9
graywarrior Dec 2013 #12
magical thyme Dec 2013 #14
KamaAina Dec 2013 #15
a la izquierda Dec 2013 #16
rurallib Dec 2013 #18
IrishEyes Dec 2013 #19
RedCloud Dec 2013 #20
cherokeeprogressive Dec 2013 #21
DebJ Dec 2013 #29
orleans Dec 2013 #22
Callalily Dec 2013 #25
B Calm Dec 2013 #26
jmowreader Dec 2013 #31
A HERETIC I AM Dec 2013 #34
jmowreader Dec 2013 #35
A HERETIC I AM Dec 2013 #36
Packerowner740 Dec 2013 #32
B Calm Dec 2013 #33
Carolina Dec 2013 #37

Response to B Calm (Original post)

Wed Dec 11, 2013, 08:22 AM

1. Knowing Karma, probably die of a heart attack.

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Response to Locut0s (Reply #1)

Wed Dec 11, 2013, 10:33 PM

17. !!!!

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Response to B Calm (Original post)

Wed Dec 11, 2013, 09:40 AM

2. This is going to seem really harsh...

 

but even before I collected the ticket, there are at least six people who I will be mailing "Fuck you, I will buy or destroy everything in your life you love." missives.

They have it coming. Fortunately, they are all the sort of people who love only themselves, money and possessions. They love power. They love things. They love neither individuals or humanity.

And I, yes I, am a vengeful person. I also forgive easily, to a point. You have to cross me rather far to be on my list but those who have made it will feel my wrath all the way to their demise in the gutter.

...then, I think, I shall have a Coca-Cola.

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Response to Chan790 (Reply #2)

Wed Dec 11, 2013, 09:57 AM

5. You could buy up all the property surrounding their expensive home's

 

and put up low income housing and homeless shelters.

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Response to B Calm (Reply #5)

Wed Dec 11, 2013, 10:01 AM

7. ...

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Response to B Calm (Reply #5)

Wed Dec 11, 2013, 11:16 AM

11. You win.

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Response to Brigid (Reply #11)

Wed Dec 11, 2013, 06:21 PM

13. I've been giving that a lot of thought through the years. My old bosses

 

better hope I never win that kind of money! LOL

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Response to B Calm (Original post)

Wed Dec 11, 2013, 09:46 AM

3. This is the real and only fun of a lottery ticket:

IMAGINING what you would do, LOL.
Most would have to go to philanthropy; this is just too much money even if more than half goes to taxes.

First, the selfish parts:

Give my aging parents $200,000. They were forced into early retirement 25 years ago when my mother was hit head-on by a drunk driver. They are almost out of money while medical bills are mounting. 25 years after you take an early retirement (means less money each month forever), what little you get turns into nothing through inflation. Even with the disability my mom claims as the accident left her forever in a wheelchair from age 60 and other health problems too.

Pay off home mortgages for self and 3 siblings and half of daughter's mortgage. $1.4 million total?
Buy new vehicles for everyone in family; hybrids. Everyone of us drives cars so old they should be off the road soon. $500k?

Vacation in Europe with my husband and my disabled son, who has never had any vacation at all ever in his 31 years. $25k?
Buy a small home for my disabled son so I don't have to leave this world worrying about him. (total in mortgages above)
Buy him a nice wardrobe and some furniture. He has been living in poverty his entire life. $15k

Make huge deposits to college funds for my two grandchildren. Thankful to say they don't need anything else. $250k
Buy a place to live near my grandchildren (but keep current home because hubby has friends here in god-awful Pennsyltuckey). $300k

See the USA - buy an RV...husband has serious illness CKD would need this to travel much (while we can travel at all). $80k

Finally have the cash for the termite treatment needed on our house; known for over a year now but can't get $2k since husband's kidneys went bad and our health insurance is now $1525 a month for two more years. Do other house repairs and remodels. Like the leak into the living room ceiling from the chimney. Replace the 1950s air conditioning unit, bathrooms. $25k

Check myself into a clinic for a month where I can detox (cigarettes) and lose 20 lbs.
Buy myself and husband new clothes.

Set aside funds for medical needs if / when my husband ends up with a kidney transplant. We were told that the costs for the medicines needed after transplant are enormous and not covered by insurance for the most part.

Sheesh that's only about $3 million. Forgot my inlaws; give those three families a million to split. Throw in an extra $1 million to just go extreme shopping with each family member, and still only at $5 million, to insure my entire family's safety and security and health is on good grounds. None of us would want for anything then.

That's a lot left for philanthropic purposes. Part of that might be investing in clean energy technology.

Thanks. That was fun.




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Response to DebJ (Reply #3)

Wed Dec 11, 2013, 10:53 AM

10. +1

 

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Response to DebJ (Reply #3)

Fri Dec 13, 2013, 05:21 AM

23. You start off by saying...

"First, the selfish parts"

Then follow it with hardly anything that sounds selfish.

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Response to Locut0s (Reply #23)

Sat Dec 14, 2013, 12:28 AM

27. Thanks but taking care of my family is the most self-pleasing thing I can do. n/t

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Response to B Calm (Original post)

Wed Dec 11, 2013, 09:57 AM

4. collect it

and then disappear

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Response to MissMillie (Reply #4)

Wed Dec 11, 2013, 10:02 AM

8. Run off to the South Pacific and have your bare ass spanked

 

with palm leaves by half naked hula girls or cabana boys.

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Response to MissMillie (Reply #4)

Fri Dec 13, 2013, 05:23 AM

24. Yeah probably this :P...

I'd buy a private island somewhere in the south pacific. I'd do all the regular philanthropic stuff for family and friends too of course. And donate large sums to charity. But after that I'd drop off the face of the earth somewhere

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Response to B Calm (Original post)

Wed Dec 11, 2013, 10:00 AM

6. Give a huge sigh of relief.

See to the needs of my close friends who have stood by me.

Do what I can to help Mr ITW's family.

Buy two homes with lots of room and a beautiful view.

Hire live-in help.

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Response to In_The_Wind (Reply #6)

Sat Dec 14, 2013, 12:29 AM

28. Ooohhh Aaahhh live in help I hadn't thought of that. Nice!

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Response to DebJ (Reply #28)

Sat Dec 14, 2013, 12:43 AM

30. With that much money ... having someone make hot cocoa for me would be nice.

I love to cook but at this point in my life I'd rather have someone surprise me.

Also ... putting away clean laundry is such a bother. Let someone else do it.

That would give me unlimited time to play with my birds, watch the fish, fiddle with the plants, maybe do a little sailing again. Enjoy the simple pleasures of life as I do now without dusting.


Life could be a dream tra-la-la--la-la.
Oh and, I wouldn't be shoveling snow tomorrow.







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Response to B Calm (Original post)

Wed Dec 11, 2013, 10:29 AM

9. Start a new career as a philanthropist. . .

. . .with an endowment or foundation.

At that much money, it's much much too hard to handle by myself. Not like having just a 1-2 million.

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Response to B Calm (Original post)

Wed Dec 11, 2013, 11:18 AM

12. Quit the job I don't have and give most of it to liberal causes

especially animal & environmental protection.

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Response to B Calm (Original post)

Wed Dec 11, 2013, 06:41 PM

14. big time animal rescue

 

also people rescue a la Occupy's rolling jubilee, extended to student loans and foreclosures. Just think how many furry 4-foot and furless 2-foot lives could be saved...

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Response to B Calm (Original post)

Wed Dec 11, 2013, 06:48 PM

15. Not sure yet

 

but I think you'd like it. The teahadists, not so much.

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Response to B Calm (Original post)

Wed Dec 11, 2013, 08:12 PM

16. Pay my student loans, set up trusts for my nieces and nephews...

And disappear to South America with my camera.

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Response to B Calm (Original post)

Wed Dec 11, 2013, 10:35 PM

18. I have always wanted to allow every kid in my town

to be able to go to college. That would be a start.

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Response to B Calm (Original post)

Wed Dec 11, 2013, 10:45 PM

19. I would set aside some of the money for myself to live on for the rest of my life.

I might invest some of the money. I would definitely go back to school. I would probably buy a nice little house with a small garden. The majority of the money would go to charity. I would donate to campaigns and causes that I believe in.

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Response to B Calm (Original post)

Thu Dec 12, 2013, 01:02 PM

20. I'd post here like 1,000 times a day

I really only get about 30 times a year as it is. Today is a good day.

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Response to B Calm (Original post)

Thu Dec 12, 2013, 01:52 PM

21. Pay off my Ex-Wife's mortgage. Both Exes actually.

 

Set up trusts for both kids.

Start a food bank in my community with a trust of its own and a yearly cash prize for the biggest donor with a limit as to how much can be donated at once to keep donations steady and constant.

Start a solar-powered micro-brewery with a fleet of hydrogen powered delivery trucks.

TRAVEL.

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Response to cherokeeprogressive (Reply #21)

Sat Dec 14, 2013, 12:30 AM

29. Wow. Now that's an a-typical line of thought! :)

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Response to B Calm (Original post)

Fri Dec 13, 2013, 05:15 AM

22. don't know but i guess now i'm gonna have to buy a damn ticket! n/t

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Response to B Calm (Original post)

Fri Dec 13, 2013, 07:52 AM

25. Yes, I agree with an above

statement, the best thing about the lottery is imagining what one would do with all that loot.

I'd give a ton to the place where I work (non-profit organization), homeless shelters, women's shelters, food banks.

Help out family and friends.

Travel, travel, travel!

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Response to B Calm (Original post)

Fri Dec 13, 2013, 05:17 PM

26. I would take my wife to Holland and then off to the Greek

 

Island Corfu.

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Response to B Calm (Original post)

Sat Dec 14, 2013, 12:58 AM

31. First things first: put $20 million into accounts that will disgorge, say, $2500/week

Before you go on a philanthropic rage or start a bunch of businesses or bankroll the next great talent, make damn good and sure you never, ever HAVE to work again. If you were to take $20 million - which is what, about fifteen percent of what you'd receive from the lottery? - and put it in, say, ten different accounts that each disbursed $250 per week into a checking account from which you'd live on, you would among other things never wind up on any "don't play the lottery because you'll eventually blow it all and have to declare bankruptcy" tv programs.

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Response to jmowreader (Reply #31)

Sat Dec 14, 2013, 03:30 PM

34. $20 mil in Ten Year Treasuries will get you $550,000/year

2.75% coupon currently. Each million face value then would generate $27,500 per year in interest payments.
X 10 X 2 = $550,000 a year and you still have the twenty mil of principal. You could do that out of a single account at a brokerage. No need to set up ten different accounts.

http://www.bloomberg.com/markets/rates-bonds/government-bonds/us/

And FWIW, that quote page shows them selling at a discount to Par, so you could get $20 mil worth for around $19.8 mil.

Do the same thing only with Muni bonds and the interest is tax free.

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Response to A HERETIC I AM (Reply #34)

Sat Dec 14, 2013, 04:12 PM

35. Set up ten different accounts for insurance purposes

Sadly, in today's economic climate there's no guarantee anything will be there your whole life. If you diversify, you're much safer.

It's also easier when it comes time to liquidate your estate upon your and your spouse's death: instead of willing part of your stash to Harvard, part to Planned Parenthood and part to your child, you will the content of each account, in toto, to a different beneficiary.

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Response to jmowreader (Reply #35)

Sat Dec 14, 2013, 04:33 PM

36. No need for insurance if you are using Treasuries.

Since FDIC insurance is a plan paid for by the banks, at the sums this lottery is paying, the safest investment would be US Treasuries.

As far as what happens to the money, also easily done with a trust.

But, however you want to do it is cool! It's fun to think about, anyway.


There are so many ways to handle such a large sum it isn't funny, but the fact is, whoever wins it will be best served by seeking professional advice regarding wealth management.

At the level the Mega Millions will be for Tuesdays draw, if you took the cash option and if you live in a state with no state income tax, you could expect to receive around $180 million.

At that level you could take $100 mil of it and go to Goldman Sachs in NY. They could set up a private placement muni bond situation, where you could/would be the sole underwriter for a towns water works, for instance. It doesn't have to be Goldman, there are numerous other firms that do that sort of thing)

The point is, assuming you need FDIC insurance for a sum of even twenty mil, much less $180 mil is not the case.

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Response to B Calm (Original post)

Sat Dec 14, 2013, 01:04 AM

32. Never checked my numbers the other day, guess that means I didn't win.

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Response to Packerowner740 (Reply #32)

Sat Dec 14, 2013, 01:19 PM

33. No one won last night either. Probably will get over 550 mllion for the

 

next drawing, so you still have a chance.

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Response to B Calm (Original post)

Sun Dec 15, 2013, 01:19 PM

37. Move!

Set up funds for the future of all the young people in my life (8), add to my retirement and donate the rest to educational scholarships

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