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Old November 26 2012, 04:21 AM   #31
Rķu rķu, chķu
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Re: Powerball. What could you do with a 425 million dollar lottery win

sojourner wrote: View Post
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Kenbushway wrote: View Post

You could probably buy a baseball team with that money.
I wouldn't want to do that. I want to *watch* baseball, not own it.
Box seats. At EVERY stadium.
I don't want that either. I don't like luxury seating. Takes all the fun out of the game.
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Old November 26 2012, 07:11 AM   #32
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Re: Powerball. What could you do with a 425 million dollar lottery win

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It would also prevent me from blowing through a lump sum in some ridiculously short amount of time.
The long term payments makes for a good ideal. But my only concern would be could it be lefty behind payable to my heirs: Wife, kids?[/QUOTE]

Last time I checked, no. If you die, any remaining unmade payments revert to the lottery commission. Easy to get around though, form a corporation then claim the prize in the name of that corp. The corp can be passed on after you die.

Your better taking the lump sum in any case. with a little smart but conservative investing you'd end up with more net value at the end.
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Old November 26 2012, 08:47 AM   #33
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Re: Powerball. What could you do with a 425 million dollar lottery win

Locutus of Bored wrote: View Post
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After taxes, there probably wouldn't be much of it left anyway...
With a $425 million dollar jackpot, a single winner’s one-time lump sum cash payout would be $278,300,000.
I wonder how much I could give to charity, so that the charitable deduction resulted in a zero federal tax?

Washington State doesn't have a personal income tax, but I'm not sure if that applies to multi-state lotto winnings.

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Old November 26 2012, 04:09 PM   #34
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Re: Powerball. What could you do with a 425 million dollar lottery win

A few years back there was a jackpot almost this size and my wife and I discussed what we would do if we won. There is nothing better in the world then spending imaginary money. My wife is one of those people who if they won a jackpot like this would keep on working. So we would open a Comprehensive Woman's Health Care Clinic to serve all aspects of women's health care, serving women with little or no insurance. With my wife being an OB/GYN this would allow her to focus solely on women's heath and health related issues, which are her passion.
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Old November 26 2012, 05:06 PM   #35
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Re: Powerball. What could you do with a 425 million dollar lottery win

First and foremost, I wouldn't tell anyone about it except those who need to know (wife, accountant, etc.) I wouldn't buy a new house or car or anything, although I would pay off my mortgage just so I wouldn't have to worry about paying that each month. Naturally I would help out my friends and family who needed it. With the bulk of it, however, I would do the following: I do research at a relatively small and not-well-known university. There's some good research going on here, but there is potential for so much more. I would invest the money and use the dividends to fund research anonymously here at my university. I would watch what the various labs are doing and when I found researchers who I thought were doing good work and who I thought could use the money I would send them whatever I thought they would need to do something they couldn't get funded other ways. I would also watch for opportunities to provide funding for large equipment that usually requires special grants to obtain.
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Old November 26 2012, 09:19 PM   #36
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Re: Powerball. What could you do with a 425 million dollar lottery win

I know it would hardly make a dent into the cash, but:

1. Buy each of my kids property and brand new worry-free vehicles.
2. Hire my wife an architect so she could help design her dream house - then have it built for her.
3. Make sure our parents are extremely comfortable in their senior years and help out our siblings.
3. Visit family and friends throughout Canada and the U.S. that we don't see nearly enough.
4. Spend weekends away over the course of a couple of years visiting each of the 30 ballparks and catching some games. Then going back to visit the ones we like the best.
5. Donate annually and substantially to Ronald McDonald's Children's Charity. (Back in the 80's, Ronald McDonald house allowed us stay close to hospital)
6. Give money to both TVO and PBS.

That is my starting list.
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Old November 26 2012, 10:19 PM   #37
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Re: Powerball. What could you do with a 425 million dollar lottery win

Tom Hendricks wrote: View Post
So we would open a Comprehensive Woman's Health Care Clinic to serve all aspects of women's health care, serving women with little or no insurance.
If I won the lottery, this is exactly what I'd donate to.
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Old November 26 2012, 10:39 PM   #38
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Re: Powerball. What could you do with a 425 million dollar lottery win

I'd definitely go buy a condo and a new car (nothing too fancy for either, because I still would be inherently cheap--er, frugal).

Other than that, I'd probably live very modestly. I never was one for very fancy things and quite a few things I think are extremely overpriced and not worth it. I'd be one of those secret milliionaires that has a part-time job (maybe only 12 hours a week) in a store somewhere and quietly makes anonymous donations to various charities.

But I'd have one hell of a Star Wars toy collection, though...
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Old November 26 2012, 11:46 PM   #39
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Re: Powerball. What could you do with a 425 million dollar lottery win

My inner geek says: Find some worthwhile but struggling fanfilm and give them a couple of million or so, my inner egotist says "Fuck 'em film my on fanfilm epic "
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Old November 27 2012, 06:08 PM   #40
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Re: Powerball. What could you do with a 425 million dollar lottery win

After all the obvious stuff to indulge my present and protect my future, I'd use the balance to get into small-scale VC/angel funding. I think that would be tremendous fun. You'd get to see some amazing business concepts and technologies, and help them come to fruitition, with the prospects of some serious profits too.
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Old November 27 2012, 06:10 PM   #41
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Re: Powerball. What could you do with a 425 million dollar lottery win

If I thought it would help, I would give a large portion of the money to my home city - provided they use it to build a decent rail transit system. (At the very least, build a rail connection from Omaha to Lincoln. It could pay for itself in a year just on Husker football traffic!) If they don't use it for that purpose alone, I get it back.
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Old November 27 2012, 06:52 PM   #42
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Re: Powerball. What could you do with a 425 million dollar lottery win

Crush my enemies, see them driven before me, and hear the lamentations of their women.

Seriously, though, my close family would never have to worry about bills ever again, and neither would I. Also, I'd start an old fashioned malt shop, where you could get a soda, ice cream, or just listen to the jukebox.
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Old November 27 2012, 07:04 PM   #43
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Re: Powerball. What could you do with a 425 million dollar lottery win

I would do what most of you guys say, I guess.

I threw $10 into the pool at work. What the hell. Never played the lottery before, may never again, but the whim struck me.
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Old November 27 2012, 07:05 PM   #44
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Re: Powerball. What could you do with a 425 million dollar lottery win

Oh, here's one. I'd never fly commercial again. Charter only. Screw the TSA.
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Old November 27 2012, 07:14 PM   #45
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Re: Powerball. What could you do with a 425 million dollar lottery win

sojourner wrote: View Post
Oh, here's one. I'd never fly commercial again. Charter only. Screw the TSA.
If you need a puddle jump in the vicinity of DC, let me know.
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