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Old November 27 2012, 07:55 PM   #46
ManOnTheWave
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Re: Powerball. What could you do with a 425 million dollar lottery win

Create a solid if excessive retirement plan.

Build my Barbie Dream House.

Start college funds for the children of close friends.

Go back to school (for fun).

Travel.

Build a movie theatre that is as much restaurant and art gallery as movie theatre. It would show new movies on most screens but have a single screen dedicated to vintage, classics, and art house.

Hunt man for sport on my private island.
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Old November 27 2012, 08:10 PM   #47
Savage Dragon
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Re: Powerball. What could you do with a 425 million dollar lottery win

I would find a good piece of land, hire an architect, and build by dream home. I'd also probably quit my job.
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Old November 27 2012, 10:49 PM   #48
Kenbushway
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Re: Powerball. What could you do with a 425 million dollar lottery win

People apparently sales have driven the powerball amount to 500 million (or half a billion) whichever sounds bigger. That means lump sum payment at 42%(federal/Ga state taxes) taxes taken out equals 189 million.
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Old November 27 2012, 11:14 PM   #49
Chaos Descending
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Re: Powerball. What could you do with a 425 million dollar lottery win

sojourner wrote: View Post
Last time I checked, no. If you die, any remaining unmade payments revert to the lottery commission.
Not true.

http://www.powerball.com/pb_contact.asp

"WHAT HAPPENS IF AN ANNUITY PRIZE WINNER DIES? The estate will handle the lottery prize. A lottery annuity prize is just like any other asset. You can pass any remaining annuity payments on to your heirs or to anyone else. The Powerball game will even cash out an annuity prize for an estate. This may make it easier for the estate to distribute the prize. It also may be necessary to cash out the annuity to pay Federal estate taxes. We will sell some or all of the securities at competitive bid or will even just transfer the securities to the estate. We do not charge a fee of any kind. I think that this misunderstanding may come from the response that the prize "goes to the Estate" and some people hear "goes to the State.""
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Old November 27 2012, 11:14 PM   #50
Alidar Jarok
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Re: Powerball. What could you do with a 425 million dollar lottery win

What would I do? I would put away most of the money so it can't be touched. I'd rather not be accustomed to having the money even though it would be nice to remove uncertainty. Basically, put it in some kind of trust that pays me interest or a stipend.

I would pay off my loans, buy a house and car, and perhaps set aside money to travel and things like that. But I want to keep working as if I had never won. Maybe I'd make donations to my alma mater on the condition that they never call me and ask ever again (I would also require that they not name anything after me because of my donation, although I could see myself setting up a scholarship fund that gets my name).

Regarding family and friends, I'll pay off my the debt of parents and the student loans of my brothers. But I don't want to be seen as a giver of charity or of largess, so that might be it.
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Old November 28 2012, 12:27 AM   #51
Kenbushway
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Re: Powerball. What could you do with a 425 million dollar lottery win

Just read the past stories of winners who are now living in a trailer park to know what not to do.
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Old November 28 2012, 12:28 AM   #52
Starbreaker
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Re: Powerball. What could you do with a 425 million dollar lottery win

ANYTHING I want. And I'm definitely not going to work. I don't understand why people say they'd go back to their job.
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Old November 28 2012, 12:36 AM   #53
Skywalker
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Re: Powerball. What could you do with a 425 million dollar lottery win

At first I'd do the same as pretty much everybody else, pay off my debts and my family's. Give them each a certain amount so they'll be set for life. Donate some to charity.

Once all of that's settled, I'd probably put most of what's left in the most secure account I can find, then spend a couple of years traveling the world. After that, I dunno. Build a house somewhere and do whatever I want to do with my life.
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Old November 28 2012, 10:34 AM   #54
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Re: Powerball. What could you do with a 425 million dollar lottery win

People look at me strangely when I say this, but there is no way in hell I would want to win that kind of money. It changes things forever, and I don't think for the positive. Relationships get destroyed. People go broke because they don't know how to be rich. You think you will do all these wonderful things, but you are just as likely to lose all motivation in life because you don't need to do anything, you have no responsibilities. You'd be much better off winning low and taking the yearly payout. You're comfortable, but can't be ridiculously indulgent.
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Old November 28 2012, 10:43 AM   #55
Gaseous Anomaly
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Re: Powerball. What could you do with a 425 million dollar lottery win

I don't know what I would do with 425 million dollars but I know what I wouldn't do, WORK!
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Old November 28 2012, 02:12 PM   #56
Scout101
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Re: Powerball. What could you do with a 425 million dollar lottery win

Set up my family, then travel for a while. Wander Europe, bum around the caribbean, just take a year or two off. Then come back, figure out where i want to be, and build a sweet house and start trying to figure out a hobby.

Try to keep a good chunk of the money put away so i'm just living off the interest, and it doesn't go bust.
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Old November 28 2012, 02:49 PM   #57
Alidar Jarok
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Re: Powerball. What could you do with a 425 million dollar lottery win

Rageforthemachine wrote: View Post
People look at me strangely when I say this, but there is no way in hell I would want to win that kind of money. It changes things forever, and I don't think for the positive. Relationships get destroyed. People go broke because they don't know how to be rich. You think you will do all these wonderful things, but you are just as likely to lose all motivation in life because you don't need to do anything, you have no responsibilities. You'd be much better off winning low and taking the yearly payout. You're comfortable, but can't be ridiculously indulgent.
That's why I said the first thing I would do is take most of the money and put it somewhere that I can't touch it. I would have it pay me a stipend each year. Essentially, I would pick a number that's low enough to motivate me to work without requiring me to rely on the job (I would have that stipend increase dramatically upon reaching the age of 65, though).

The only way I could touch the rest of the money is if I give it away to a non-profit or public interest group or if I need to pay for some kind of medical emergency. In other words, the money is a safety blanket, not a life-altering event.
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Old November 28 2012, 03:01 PM   #58
Robert Maxwell
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Re: Powerball. What could you do with a 425 million dollar lottery win

Rageforthemachine wrote: View Post
People look at me strangely when I say this, but there is no way in hell I would want to win that kind of money. It changes things forever, and I don't think for the positive. Relationships get destroyed. People go broke because they don't know how to be rich. You think you will do all these wonderful things, but you are just as likely to lose all motivation in life because you don't need to do anything, you have no responsibilities. You'd be much better off winning low and taking the yearly payout. You're comfortable, but can't be ridiculously indulgent.
That may be true of people who have no ambition or drive and only work so that they don't starve. Then again, that is probably the demographic that overwhelmingly participates in lotteries.
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Old November 28 2012, 04:59 PM   #59
TheBrew
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Re: Powerball. What could you do with a 425 million dollar lottery win

Lindley wrote: View Post
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.
I would hire Lindley to be my personal pilot. :P

Buy a house, create an awesome music studio, buy my parent's house, set up a trust fund for my siblings, and go back to school.
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Old November 28 2012, 05:48 PM   #60
Savage Dragon
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Re: Powerball. What could you do with a 425 million dollar lottery win

I'd also fill in some holes in my comic book collection. That would be fun.
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