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Powerball 500 Million How would you spend it ?

Discussion in 'Non-Vegas Chat' started by mike mc, Nov 28, 2012.

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  1. mike mc

    mike mc High-Roller

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    Runnin out to grab my ticket, why not ?
    I know I probably have a better chance finding the 500 mil on the side of the road :rolleyes2: But you can't win if you dont play :wave:

    So Question is how would you spend it? After taxes :grrr:
     
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  2. Joe

    Joe VIP Whale

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    No clue, but I'd be more interested in how you would take it. Lump sum, or the 30 year payout?

    I'd take the lump sum.
     
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  3. Hogman

    Hogman VIP Whale

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    Probably one of first people to contact you would be a casino host.
     
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  4. JosieCat

    JosieCat VIP Whale

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    I'd take the lump sum. I'd first make sure my family was taken care of. Then, being a charitable kind of person, I'd make some hefty donations to my favorite charities. Then I'd change my name, move to Vegas, and gamble my little brains out until that got boring. After that, who knows.

    Oh, and I want a Hummer. I know they don't make them anymore. I know they aren't "environmentally correct". I don't care - I want one :)
     
  5. Sonya

    Sonya Queen of VMB

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    I bought my tickets. :)

    I would take the lump sum. I would pay off our bills and work with a financial planner. Then I'd throw one hell of a party in Vegas.
     
  6. vegasqc

    vegasqc VIP Whale

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    Only thing Vegas related would to buy a sweet city centre condo

    The rest would be the usual stuff , retire, nice house, nice car, take care of mom.....
     
  7. ken2v

    ken2v This Space For Rent

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    I'll take a hummer, tyvm!! lol
     
  8. ken2v

    ken2v This Space For Rent

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    Turn my office into a wine room.

    Go to more Ducks games.

    Buy a cool car. Nothing way over the top, but an Audi S-something.

    Build getaway retreats in Haena and Bend.

    Learn how to play golf.
     
  9. mike mc

    mike mc High-Roller

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    I'd take the lump sum, set aside a reasonable amount for my family
    Then take the rest, and you know what they say :You couldn't possibly spend all that in a lifetime", :nono: I bet I could :wink2:
     
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  10. Joe

    Joe VIP Whale

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    I daydream a lot every time one of these gets that big.

    First; my wife and I get two separate checking accounts. Now we can gift each family member $15,000 each, times two and they owe no taxes. There goes $800,000 per year.

    Establish several scholarships at both our alma maters. There goes 40 million.

    I think about where I'd want to move to. Doesn't need to be huge, but I'd like to get back to living on the water. Maybe San Diego, Malibu or the FL Keys.

    I don't think I'd go nuts in Vegas, but maybe move up to $5 VP. I gamble for the thrill of gambling, not necessarily how much I win. But who knows, I might end up in the room with natedog or shifter etc.

    I also don't think we'd be flying SWA anymore:evillaugh A jet rental sounds nice.
     
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  11. mike_m235

    mike_m235 Tourist

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    There's a better chance of being dealt a spade royal flush. Without drawing a card. By a factor of 67 to 1.
     
  12. Joe

    Joe VIP Whale

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    :evillaugh:thumbsup:
     
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  13. hanoscf

    hanoscf High-Roller

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    I'd make myself comfortable, make sure my kids and other family members got a little and give the rest away. I'd start a charitable foundation and give it away through that.
     
  14. Joe Strummer

    Joe Strummer VIP Whale

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    UPDATE
    .
    It's $550,ooo,ooo NOW !
    .
    I have several tickets w/ "whacky" numbers picked out.
    And we have a 16 person pool at work, as well.
    .
    I'd buy a warm climate home w/ a pool
    and play golf year round.
    ( Could that be VEGAS ? ):thumbsup:
    Then, I'd buy a 2nd home in the mountains.
    .
    Gambling would be kinda weird ?
    I mean, what limit would I now play at ?
     
  15. ken2v

    ken2v This Space For Rent

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    That happened to me. In fact three at once in the deal.
     
  16. Terry Benedict

    Terry Benedict VIP Whale

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    Yeah, go to more Ducks games.

    Lump sum, after taxes would be about $165 million. (very rough estimate)

    I live kind of a simple life, so I would keep the taxes as simple as possible. So put $160m away in a safe, low interest account. I think I could live really well at more than $100,000 a month. I would ask my brother-in-law and my rich uncle to recommend a financial advisor. I really don't know how to deal with $165 million, and not ashamed to say it.

    I'd have about $5m to spend right away. So get rid of all debt. Tell my family to give me a debt list, a want list, and a wish list, and to be patient because I'm going to play for a while then take care of them.

    Tell the kids (neices, nephews, best friends' kids...) that I will pay off student loans after they graduate. I'm not paying for a three-year party, but I'll help them graduate debt free.

    I would have to be careful to not become an alcoholic. Or at least be a functioning one.

    On a side note, if I lived in a state without income tax, would that state take taxes out of a lottery jackpot?
     
  17. hanoscf

    hanoscf High-Roller

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    I like the idea of paying off student loans
     
  18. mike_m235

    mike_m235 Tourist

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    Me too. I was thinking tuition, but paying of the loans is much smarter.
     
  19. leo21

    leo21 VIP Whale

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    I would change my name and then do whatever the heck Mitt Romney's been doing with his money.

    And you would need to take a lump sum because the tax rate for that bracket looks like it's going up.
     
  20. dw2121

    dw2121 Low-Roller

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    I would take the lump sum. Then I would pay off the house and other bills, buy a boat, take care of my parents, and then hopefully set it up so I can retire and afford to retire and travel.
     
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