What if you won?

bruecy · Dec 27, 2011, 05:32 PM

Megamillions jackpot is $206 million for today's drawing. Like the title says how would you handle it?
here's my plan:
Cash option of course, Why pay max taxes for 26 years on returns that barely beat inflation?
Verify that I did win.
Hire cpa, lawyer(tax ,estate both?) and a fee-based cfp that I trust. Put $750,000 - $1 million in a separate CDARS account. that will be my Wheww! I won money initial expense money( car, house ,vacation, etc.) and to pay them. Was gonna say $500,000 but they might cost me more than I assume.
Then tell him\her to invest in bonds ,blue chip stocks etc. mostly relatively safe investments (yes risk is involved with all of them) to get ~10% returns each year using munis to keep taxes down.
Then put myself on a salary of $50,000-$100,000 a year to be put in the separate CDARS account and roll rest back in investments. Never touch principal and watch it grow.
After I go my family would be set for several lifetimes.

Tyrsonswood · Dec 27, 2011, 06:30 PM

Buy an island......

BlueMak · Dec 27, 2011, 07:05 PM

I can't win, but if I did...

Pay back my own and people close to me, debts. Buy an apartment for each member of the immediate family and close friends. Give some money to the red cross. Move to the USA. Start a business there. Buy lots of gold. Buy a house for myself. Nothing fancy. Buy three cars, one Audi Quattro (80's), Toyota Supra (mid 90's), and an American truck or van. When everything is done, take a couple of weeks of vacation to Antarctica or Alaska. WITH comforts. and relaaaaaaaaax.

bruecy · Dec 27, 2011, 07:27 PM

Quote:

Originally Posted by BlueMak

I can't win, but if I did...

Pay back my own and people close to me, debts. Buy an apartment for each member of the immediate family and close friends. Give some money to the red cross. Move to the USA. Start a business there. Buy lots of gold. Buy a house for myself. Nothing fancy. Buy three cars, one Audi Quattro (80's), Toyota Supra (mid 90's), and an American truck or van. When everything is done, take a couple of weeks of vacation to Antarctica or Alaska. WITH comforts. and relaaaaaaaaax.

Antarctia? You sure about that brother?

BlueMak · Dec 27, 2011, 08:05 PM

Quote:

Originally Posted by bruecy

Antarctia? You sure about that brother?

Yes, why not. It would be nice to have some peace for a while.

bruecy · Dec 27, 2011, 08:10 PM

Lol. Would be quiet.

OldBuzzard · Dec 27, 2011, 08:14 PM

HAH...easy to answer

One of these:
Cool Amphibious Manufacturers Ie
RV Today Archive- The Terra Wind - YouTube

With one of these to tow behind it:
Cool Amphibious Manufacturers Ie
Amphibious car - YouTube

Takaharu · Dec 27, 2011, 08:25 PM

I'd buy a mediocre house (ie: 3 bedroom), deck it out with the stuff that I fancy, bank the remainder and live off of the interest.

**MIG-31** · Dec 27, 2011, 08:36 PM

Id just live a good life, But a nice 3 or 4 bedroomed house outside where i were brought up,But not to far out as i would not like to loose my roots...

Maybe a good car for everyday use (Ford Focus or the like) and perhaps something a little flash (BMW 3 series) for the weekends,But nothing to pricey..

But thats easy to say it now that i don't have the cash.

blibbax · Dec 27, 2011, 10:40 PM

I don't enter these things, but if I won I'd buy a few houses. I'd get a variety, in a few towns around where I live, so that if a particular kind of house becomes undesirable it won't wipe out my fortune.

Then I'd rent them all out, and live off the income in modest 2 bedroom flat or similar. I wouldn't mind the tax - I wouldn't mind paying more than the top rate in the UK if I was earning the income to qualify for it.

steves6403 · Dec 27, 2011, 11:10 PM

give it all to hardware heaven

Callandor · Dec 27, 2011, 11:24 PM

Quote:

Originally Posted by steves6403

give it all to hardware heaven

Lol, that's the spirit.

gaetan · Dec 28, 2011, 12:05 AM

I'd just get myself what I need and nothing more, place the remaining into savings with good interests and live my life normally.

When comes times of need or want to have a good time (e.g. vacations) maybe just go and pick a little if needed.

This way I can offer myself one of the best retirements and leave my children/grandchildren something, of course, after telling them the good life-lessons of not spending all your money on stupid things, or else, that would make them nothing more than worthless, rich-spoiled kids...so to speak

Of course, as some say, I've got more chances of getting an accident (and maybe killed) on my way to collecting the money than I have of winning it lol

Neshi · Dec 28, 2011, 01:33 AM

get a farm in the marlborough sounds (NZ) nothing large just a few hunderd acres, a nice boat, a nice helicopter, maybe one of those planes that can land on water, a nice ute + 4x4.

and just keep my animals + garden to feed myself. Surplus goes to farmers market or neighbours.... and enjoy life for the many years that are left..

ET3D · Dec 28, 2011, 09:25 AM

I'll do what my wife says.

Seriously, though, we'll probably quit our jobs and live off the interest and give some of the money to our families. Then check the "If Money Were No Object" thread and see what I can implement from that.

niceguyrichy · Dec 28, 2011, 10:17 AM

i'm unashamed
i would buy everything
and i'd employ a dozen nubile 18yo girls to feed my dad grapes all day

Dyre Straits · Dec 28, 2011, 11:27 PM

First thing I'd do is pay off my debts as far as it would go.

Dyre Straits · Dec 28, 2011, 11:28 PM

Quote:

Originally Posted by ET3D

I'll do what my wife says.

Seriously, though, we'll probably quit our jobs and live off the interest and give some of the money to our families. Then check the "If Money Were No Object" thread and see what I can implement from that.

LOL!

**Mousey** · Dec 30, 2011, 12:40 AM

Invest a couple of mil in my mate's business to get him properly off the ground, buy myself a porsche 911 for a runaround and buy my dad a 911 too probably

then stick the rest in a saving's account and let the interest fuel my day to day, and the saving fuel a VERY cushy retirement... at 19

Or i could buy 3 months of fully comp'd car insurance, Heyyoohhh!

bruecy · Jan 3, 2012, 01:17 AM

Crap someone won it.
USA Mega - Powerball and Mega Millions Lottery Results and News
Gonna be a very happy new year for someone. Looks like I'm gonna have to wait for a few more weeks before i play again.

FuNsTeR · Jan 3, 2012, 08:35 PM

euromillions is roughly £46 million tonight and if on the highly unlikely chance of winning the jackpot i would give a cut to my fellow work colleagues and my family and keep £15 million to myself then i would either f*ck off to Germany or Mallorca

and on a side note i would be over the moon if i won the raffle prize £1million and i would retire from being a grunt

Dec 27, 2011, 05:32 PM	#1
bruecy HardwareHeaven Newbie Join Date: Jan 2011 Posts: 6 Rep Power: 0	What if you won? Megamillions jackpot is $206 million for today's drawing. Like the title says how would you handle it? here's my plan: Cash option of course, Why pay max taxes for 26 years on returns that barely beat inflation? Verify that I did win. Hire cpa, lawyer(tax ,estate both?) and a fee-based cfp that I trust. Put $750,000 - $1 million in a separate CDARS account. that will be my Wheww! I won money initial expense money( car, house ,vacation, etc.) and to pay them. Was gonna say $500,000 but they might cost me more than I assume. Then tell him\her to invest in bonds ,blue chip stocks etc. mostly relatively safe investments (yes risk is involved with all of them) to get ~10% returns each year using munis to keep taxes down. Then put myself on a salary of $50,000-$100,000 a year to be put in the separate CDARS account and roll rest back in investments. Never touch principal and watch it grow. After I go my family would be set for several lifetimes.

Dec 27, 2011, 07:05 PM	#3
BlueMak HH's Asteroids' Dominator Join Date: Nov 2004 Location: Hellas->Macedonia->Thessaloniki Posts: 13,475 Rep Power: 349 System Specs	Re: What if you won? I can't win, but if I did... Pay back my own and people close to me, debts. Buy an apartment for each member of the immediate family and close friends. Give some money to the red cross. Move to the USA. Start a business there. Buy lots of gold. Buy a house for myself. Nothing fancy. Buy three cars, one Audi Quattro (80's), Toyota Supra (mid 90's), and an American truck or van. When everything is done, take a couple of weeks of vacation to Antarctica or Alaska. WITH comforts. and relaaaaaaaaax. __________________ The people who are regarded as moral luminaries are those who forego ordinary pleasures themselves and find compensation in interfering with the pleasures of others(Bertrand Russell)"You go into Afghanistan, you got guys who slap women around for five years because they didn't wear a veil,You know, guys like that ain't got no manhood left anyway. So it's a hell of a lot of fun to shoot them." - Lt. Gen. James N. Mattis This is slavery, not to speak one's thought. [Euripides-The Phoenician Women (c.411-409 B.C.)] http://www.macedonia.info/FALLACIESANDFACTS.htm *Sic semper tyrannis.*

Dec 27, 2011, 08:10 PM	Thread Starter #6
bruecy HardwareHeaven Newbie Join Date: Jan 2011 Posts: 6 Rep Power: 0	Re: What if you won? Lol. Would be quiet.

Dec 27, 2011, 08:14 PM	#7
OldBuzzard DH's oldest Geek Join Date: May 2003 Location: Oberlin, OH Posts: 2,783 Rep Power: 145 System Specs	Re: What if you won? HAH...easy to answer One of these: Cool Amphibious Manufacturers Ie RV Today Archive- The Terra Wind - YouTube With one of these to tow behind it: Cool Amphibious Manufacturers Ie Amphibious car - YouTube __________________ When looking for a reason as to why things go wrong, never rule out sheer STUPIDITY

Dec 27, 2011, 08:25 PM	#8
Takaharu I can fart in 7 languages Join Date: Aug 2009 Location: England, UK Posts: 1,854 Rep Power: 113 System Specs	Re: What if you won? I'd buy a mediocre house (ie: 3 bedroom), deck it out with the stuff that I fancy, bank the remainder and live off of the interest. __________________ I don't get paid to know the answer, therefore I'm far more likely to give you a straight and honest answer. Mods Rig, Box Mods Rig, Folding details

Dec 27, 2011, 08:36 PM	#9
MIG-31 HardwareHeaven News Mod Join Date: Dec 2002 Location: Nottingham,UK Posts: 56,853 Rep Power: 471 System Specs	Re: What if you won? Id just live a good life, But a nice 3 or 4 bedroomed house outside where i were brought up,But not to far out as i would not like to loose my roots... Maybe a good car for everyday use (Ford Focus or the like) and perhaps something a little flash (BMW 3 series) for the weekends,But nothing to pricey.. But thats easy to say it now that i don't have the cash. __________________ Please Post Your News Submissions Here

Dec 27, 2011, 10:40 PM	#10
blibbax What does this do? Join Date: Sep 2008 Location: Oxford, UK Posts: 4,254 Rep Power: 254 System Specs	Re: What if you won? I don't enter these things, but if I won I'd buy a few houses. I'd get a variety, in a few towns around where I live, so that if a particular kind of house becomes undesirable it won't wipe out my fortune. Then I'd rent them all out, and live off the income in modest 2 bedroom flat or similar. I wouldn't mind the tax - I wouldn't mind paying more than the top rate in the UK if I was earning the income to qualify for it. __________________ Donate the spare computing power of your PC to help to cure Alzheimer's, ALS, Huntington's, Parkinson's disease and cancer: Fold for HH!

Dec 27, 2011, 11:10 PM	#11
steves6403 HardwareHeaven Addict Join Date: Jun 2009 Location: lilydale australia Posts: 251 Rep Power: 27 System Specs	Re: What if you won? give it all to hardware heaven

Dec 28, 2011, 12:05 AM	#13
gaetan HardwareHeaven Senior Member Join Date: Jun 2011 Location: Italy Posts: 521 Rep Power: 44 System Specs	Re: What if you won? I'd just get myself what I need and nothing more, place the remaining into savings with good interests and live my life normally. When comes times of need or want to have a good time (e.g. vacations) maybe just go and pick a little if needed. This way I can offer myself one of the best retirements and leave my children/grandchildren something, of course, after telling them the good life-lessons of not spending all your money on stupid things, or else, that would make them nothing more than worthless, rich-spoiled kids...so to speak Of course, as some say, I've got more chances of getting an accident (and maybe killed) on my way to collecting the money than I have of winning it lol

Dec 28, 2011, 01:33 AM	#14
Neshi S.N.A.F.U. Join Date: Dec 2005 Location: Wellington, NZ Posts: 3,384 Rep Power: 177 System Specs	Re: What if you won? get a farm in the marlborough sounds (NZ) nothing large just a few hunderd acres, a nice boat, a nice helicopter, maybe one of those planes that can land on water, a nice ute + 4x4. and just keep my animals + garden to feed myself. Surplus goes to farmers market or neighbours.... and enjoy life for the many years that are left.. __________________ If one does not attach himself to people and desire, never shall his heart be broken. But then, does he ever truly live? Life is just too damn short for if's and maybe's

Dec 28, 2011, 09:25 AM	#15
ET3D Hopeless Dreamer Join Date: Aug 2003 Location: Dreamland, near the pool of infinite graphics cards Posts: 3,057 Rep Power: 105 System Specs	Re: What if you won? I'll do what my wife says. Seriously, though, we'll probably quit our jobs and live off the interest and give some of the money to our families. Then check the "If Money Were No Object" thread and see what I can implement from that. __________________ ET's Place ET's Place competition list

Dec 30, 2011, 12:40 AM	#19
Mousey Synth's Long Lost Bro Join Date: Jan 2007 Location: Web Design Hell Posts: 7,189 Rep Power: 245 System Specs	Re: What if you won? Invest a couple of mil in my mate's business to get him properly off the ground, buy myself a porsche 911 for a runaround and buy my dad a 911 too probably then stick the rest in a saving's account and let the interest fuel my day to day, and the saving fuel a VERY cushy retirement... at 19 Or i could buy 3 months of fully comp'd car insurance, Heyyoohhh! __________________

Jan 3, 2012, 01:17 AM	Thread Starter #20
bruecy HardwareHeaven Newbie Join Date: Jan 2011 Posts: 6 Rep Power: 0	Re: What if you won? Crap someone won it. USA Mega - Powerball and Mega Millions Lottery Results and News Gonna be a very happy new year for someone. Looks like I'm gonna have to wait for a few more weeks before i play again.

Jan 3, 2012, 08:35 PM	#21
FuNsTeR Caledonian and Proud Join Date: Jun 2002 Location: Darkest Ayrshire Posts: 1,305 Rep Power: 88 System Specs	Re: What if you won? euromillions is roughly £46 million tonight and if on the highly unlikely chance of winning the jackpot i would give a cut to my fellow work colleagues and my family and keep £15 million to myself then i would either f*ck off to Germany or Mallorca and on a side note i would be over the moon if i won the raffle prize £1million and i would retire from being a grunt __________________ "They say when you play a Microsoft CD backwards you can hear satanic messages ..... but that's nothing, if you play it forward it will install Windows"