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+--- Thread: You just won the $800 million lottery..... (/thread-10210.html)
You just won the $800 million lottery..... - BengalHawk62 - 03-01-2017
Ok, so after you wake up from feinting. What's your plan? Who are you talking to first? Where do you go? Ya ya, its easy to say go find a financial planner. But how do you know if you have a good one if you've never needed a planner before? Take it to the bank? How many banks will you need to cover that much cash? Do you go find a lawyer? Just what the hell are you going to do with $411 million dollars after taxes? Whats going to be your first big purchase? Just how many strippers are you going to have at your first pool party?
RE: You just won the $800 million lottery..... - XenoMorph - 03-01-2017
(03-01-2017, 06:00 PM)BengalHawk62 Wrote: Ok, so after you wake up from feinting. What's your plan? Who are you talking to first? Where do you go? Ya ya, its easy to say go find a financial planner. But how do you know if you have a good one if you've never needed a planner before? Take it to the bank? How many banks will you need to cover that much cash? Do you go find a lawyer? Just what the hell are you going to do with $411 million dollars after taxes? Whats going to be your first big purchase? Just how many strippers are you going to have at your first pool party?
First I'm not telling anyone I don't have too... Cause then they will want my money. (ill hand it out as I see fit not to people with hands out...)
Second I wouldn't quit my job... cause that's to much a giveaway... (I wouldn't care nearly as much about my job but wouldn't quit.. need a cover)
I'm not sure what to do about the Banks... I believe each account is only federally insured for 100,000.. So either Lots and Lots of accounts where the interest is pushed to a spending account. Or some big investments in bonds.
Buy a plot of land. Build some houses on it. no million dollar mansions but some nice houses. And sell the ones I'm not living in to friends at a fairly cheap price. under the condition they cannot sell to anyone but me.
RE: You just won the $800 million lottery..... - rezolve11 - 03-01-2017
(03-01-2017, 06:24 PM)XenoMorph Wrote: First I'm not telling anyone I don't have too... Cause then they will want my money. (ill hand it out as I see fit not to people with hands out...)
Second I wouldn't quit my job... cause that's to much a giveaway... (I wouldn't care nearly as much about my job but wouldn't quit.. need a cover)
I'm not sure what to do about the Banks... I believe each account is only federally insured for 100,000.. So either Lots and Lots of accounts where the interest is pushed to a spending account. Or some big investments in bonds.
Buy a plot of land. Build some houses on it. no million dollar mansions but some nice houses. And sell the ones I'm not living in to friends at a fairly cheap price. under the condition they cannot sell to anyone but me.
I'm with you on a lot of this.
I would definitely not tell anyone that didn't need to know because I don't want people to beg for my money. But I can honestly say with $411,000,000 that I would pay off all my debts, pay off all my immediate family's debts, pay off my closest friends debts, and then buy a nice house. My wife and I have always wanted to buy a big house so that we can house people going through school and what not for much cheaper than dorms. We are so poor, though, so I don't know that this is actually ever going to happen. A man can dream! I would also definitely go get my masters. I don't think I would keep my job because I would never need the money. I couldn't blow through that much if I wanted to.
Ugh. Why do you make these threads and make me hate my financial situation more and more!!
RE: You just won the $800 million lottery..... - Beaker - 03-01-2017
1. I don't have a cell phone, and would also get an unlisted number for my landline.
2. Pay off any outstanding debt I have.
3. I would not just hand people money...including friends and family. For the family members who are responsible, I would pay off all their debt for them, motrgages, credit card bills, car loans, student loans, etc.
4. Take my time finding a competent financial planner. work with them to figure out a good long term investment portfolio.
5. Set up a trust fund for my daughter (only child) that would take care of her for life. But she cannot access the money until graduating college and working at a decent job for at least 7 years.
6. Set up an annuity for my wife and I that would pay us a set amount each month for life while the rest of our money earned as investments.
7. For all my irresponsible family members, I would set up parameters for them to show me 5 years of good decisions and hard work and then I will reward them with some help....which will also come with parameters that require continued responsibility.
8. Relax and travel the world.
RE: You just won the $800 million lottery..... - Goalpost - 03-01-2017
I would definitely travel a lot. See the world. Probably be a bit cautious at first and take my time to think thru the rest. Would get a nice home though,seriously furnished, and a nice vehicle too. I would think you'd want to diversify as much as possible
RE: You just won the $800 million lottery..... - 6andcounting - 03-01-2017
Immediately donate $1 million to the *charities* of 30 to 40 politicians and other powerful figures in the federal government. Within about a week lottery winnings we be tax free, retroactively, starting the day I won. I'll then decline the other satanic and pedophilia benefits they insist I'm entitled too, and probably go to Dairy Queen.
RE: You just won the $800 million lottery..... - Awful Llama - 03-01-2017
I would establish a trust so I could claim the prize in anonymity, if I understand that process correctly. Then, the wife and I would purchase a nice house in Peter Jackson's neck of the woods and live happily ever after.
RE: You just won the $800 million lottery..... - SunsetBengal - 03-01-2017
Contact a good attorney, (sorry fredtoast, you're not on the list), set up a foundation to claim the money keeping my name anonymous. Take a few weeks to decide what I really want to do with my life. Then, get to doing what I want to do, rather than what I have to do.
RE: You just won the $800 million lottery..... - Tiger Teeth - 03-01-2017
I gotta' think about this. First night after I won, I know I'd get drunk to the bejeesus!
RE: You just won the $800 million lottery..... - seahawkscheat - 03-01-2017
I would buy the browns that should cost me about $50 million and turn them into the biggest dynasty since the patriots
RE: You just won the $800 million lottery..... - wildcats forever - 03-02-2017
One of my good friends is an attorney, and his 'advice' was sell everything first. He wants me to not have anything much of value in my name at all. Get a trusted financial planner on board next, and go from there regarding options on investments, income, trusts, etc, then set up 3 or 4 hotel suites in which to live a few months each out of the year. For me, that would likely be Hawaii, Switzerland or Quebec, and Northern California. Each place would be set up with favored personal items, so I could travel w/o any baggage.
As for helping others, family (relatives and closest friends) all become debt-free plus enough money to do something, but no so much for them to do nothing. And monitor individual situations from there. There are charitable causes I have interests in, mostly to do with disadvantaged kids and single parents, plus educational causes - scholarships, facility improvements etc. Also close to my heart is help for the elderly on many fronts - home care, assisted living, health care in general. Investing in organizations that succeed in improving quality of life.
RE: You just won the $800 million lottery..... - Wyche'sWarrior - 03-02-2017
I'd keep my current property until all of my awesome neighbors move/pass on, just deck out the inside really nice (I'd do a lot of the work myself to keep me occupied, I have paint sprayer, etc.), and add a few upgrades outside (I already have that part pretty much set up the way I like, minus screening in the upper deck), including a nice detached garage to work on projects in....and to house my MASSIVE diesel pusher RV I'd be purchasing.
I'd buy the wife a nice ride, but I love the ones I already have....so I'd probably get to work hotrodding and restoring my 91 CRX as my first project, then a classic MOPAR. I'd see all of the country each summer until I had all the states crossed off....even some of Canada. Then, I'd set about jet setting. That's pretty much all of the splurging I would do. Well, probably get a houseboat back home....and work on the dock for fun when I'm around to keep me busy.I would pay off all debt for my brother who has worked his tail off for GE for almost 30 years, only to be outsourced, along with a nice gift of a couple/three hundred grand. My father had a couple strokes a few years back, I'd set up a trust to cover all medical expenses and such, and for the future of my mother. They are debt free, but we had to sell our family farm to help get them there. I'd like to repurchase that farm, if possible. I'd fix up my immediate inlaws, as they have been a big help to the wife and I when we were getting started, along with my parents. I'd issue a few nice gifts to my closest friends and my uncle, the other one can kiss my ass. After that, I'd donate to a few charities near and dear to me, pay off the churches I've been involved in, and call it a day.
The rest would be set up in trust funds and college funds for the kids. Like someone else mentioned, they have to graduate school, and work for at least 5 years in GAINFUL employment to get the coin. I'd live off the rest, and only those who I WANT to know I won, would know. Also, I'd take this job and shove it....lol.
EDIT: almost forgot....I'd probably go racing for a little while too. Nothing too dangerous, just enough to get it out of my system...
RE: You just won the $800 million lottery..... - XenoMorph - 03-02-2017
(03-01-2017, 07:08 PM)rezolve11 Wrote: I'm with you on a lot of this.
I would definitely not tell anyone that didn't need to know because I don't want people to beg for my money. But I can honestly say with $411,000,000 that I would pay off all my debts, pay off all my immediate family's debts, pay off my closest friends debts, and then buy a nice house. My wife and I have always wanted to buy a big house so that we can house people going through school and what not for much cheaper than dorms. We are so poor, though, so I don't know that this is actually ever going to happen. A man can dream! I would also definitely go get my masters. I don't think I would keep my job because I would never need the money. I couldn't blow through that much if I wanted to.
Ugh. Why do you make these threads and make me hate my financial situation more and more!!
only reason I would keep my job for a while is because it helps the cover I would reduce my hours and responsibilities though lol.. Definitely vacations and nice things will be coming my way. I'm used to living poor so I don't think I could blow thru this amount of cash.
there are definitely a few family members I would help out enough to where they can relax. But theres some in every family no matter what you give them its not enough and those people probly will get a card in the mail haha
RE: You just won the $800 million lottery..... - StoneTheCrow - 03-02-2017
Bowling ball sized knot of cocaine.
RE: You just won the $800 million lottery..... - bengal_fan_in_toronto - 03-02-2017
exchange it to Canuck Buck and get another 25% on top of that 800 mil with the exchange rates being what they are.
RE: You just won the $800 million lottery..... - jason - 03-03-2017
I love when people say they wouldn't quit their job. They better hope that their job is close to a gated community where your neighbor will be Tiger Woods. Because that's where they need to move their ass immediately before the peasants come Rob them
RE: You just won the $800 million lottery..... - Awful Llama - 03-03-2017
(03-03-2017, 10:12 PM)jason Wrote: I love when people say they wouldn't quit their job. They better hope that their job is close to a gated community where your neighbor will be Tiger Woods. Because that's where they need to move their ass immediately before the peasants come Rob them
I know. 'Well. I'll pay off some bills, maybe get a new car, buy some new skirting for the double-wide..." FFS, you have hundreds of millions of dollars and you're talking about paying off the water bill and going back to work? Work can kiss my ass. I'll send'em a postcard from Monte Carlo.