TSNBDSC Posted January 10, 2016 Share Posted January 10, 2016 http://www.msn.com/en-us/money/savingandinvesting/21-lottery-winners-who-blew-it-all/ss-AAgrPBR?ocid=HPDHP#image=1 Stayin Link to comment Share on other sites More sharing options...
Flutie Flakes Posted January 10, 2016 Share Posted January 10, 2016 http://www.msn.com/en-us/money/savingandinvesting/21-lottery-winners-who-blew-it-all/ss-AAgrPBR?ocid=HPDHP#image=1 Stayin Now up to 1.3B....that's billion with a B. That would be a lot of coin to blow through. Link to comment Share on other sites More sharing options...
KD in CA Posted January 10, 2016 Share Posted January 10, 2016 If you don't understand money and refuse to educate yourself on the topic after getting rich, the amount usually doesn't matter. But I agree it'll be hard for someone to blow $700MM or whatever the net amount is in the next drawing. Link to comment Share on other sites More sharing options...
Flutie Flakes Posted January 10, 2016 Share Posted January 10, 2016 If you don't understand money and refuse to educate yourself on the topic after getting rich, the amount usually doesn't matter. But I agree it'll be hard for someone to blow $700MM or whatever the net amount is in the next drawing. Very true. It is easy to blow through any amount, but $1.3B would be a challenge even for the biggest spendthrift. Link to comment Share on other sites More sharing options...
boyst Posted January 10, 2016 Share Posted January 10, 2016 (edited) I would hope I could win just for the simple fact that I would do many of the right things. If it was $700mm after taxes,I would start by asking Chef for a lot of advice. I would set up a few annuities for family, an endowment and a few trusts. One trust would be for that to take care of my family interests. One trust for organizations which I support - animal welfare programs, victims funds, education. I would allow myself an allowance of $250k a year. That's a lot. fwiw, the only time I have ever bought tickets for the lottery were scratch offs for coworkers. I played one of them myself after having an extra one - the only time I have spent money on myself for the lottery. Edited January 10, 2016 by Boyst62 Link to comment Share on other sites More sharing options...
drinkTHEkoolaid Posted January 10, 2016 Share Posted January 10, 2016 (edited) That's a lot of cocaine, hookers and pet tigers with gold leashes.... If I ever won I like to think it would change me for the better and not worse. I would immediately hire a lawyer and financial planners, set up trusts, investments etc.. Immediately Pay off all my debt. Quit my job. Then I would like to run a charity. Maybe buy a vacation house. Avoid making major life changes and significant impulse buys. Resist as much temptation as possinle, blackmail and scandals. Make sure my family and very close friends are taken care of and generally live a similar day to day lifestyle I have now. Generally try to keep as low of a profile as possible. Hopefully with less stress. But....mo money mo problems... Edited January 10, 2016 by drinkTHEkoolaid Link to comment Share on other sites More sharing options...
unbillievable Posted January 11, 2016 Share Posted January 11, 2016 Actually, the payout comes close to 1/3 if you take the lump sum after taxes. So somewhere around 450million. The only change I would make in my life would be to quit my job... so I can concentrate on the hookers and cocaine. Link to comment Share on other sites More sharing options...
NyQuil Posted January 11, 2016 Share Posted January 11, 2016 Actually, the payout comes close to 1/3 if you take the lump sum after taxes. So somewhere around 450million. The only change I would make in my life would be to quit my job... so I can concentrate on the hookers and cocaine. Even at that number you would have spend over $41K a day for 30 years to be broke. Link to comment Share on other sites More sharing options...
boyst Posted January 11, 2016 Share Posted January 11, 2016 Even at that number you would have spend over $41K a day for 30 years to be broke. that's some damn good hookers. i've met some decent ones that are only $120-150. Link to comment Share on other sites More sharing options...
Just Jack Posted January 11, 2016 Share Posted January 11, 2016 Payoff all my bills, and all my GF's bills. Find out how much I can give a family member without them being hit with a big tax bill. Buy a house up in the mountains. Start a business I've been thinking about. Travel. Link to comment Share on other sites More sharing options...
Marty McFly Posted January 29, 2016 Share Posted January 29, 2016 Take care of my mom and others that have helped me in the past 1st without telling anyone how i got the $$. Set a yearly allowance for myself, invest in a home to live in a new car and chill out going to a real college with a real plan. With set aside budgets for hookers and party enhancers*. Link to comment Share on other sites More sharing options...
unbillievable Posted January 29, 2016 Share Posted January 29, 2016 I'll finally be able to build the zombie apocalypse bunker of my dreams. Link to comment Share on other sites More sharing options...
BuffaloBill Posted January 29, 2016 Share Posted January 29, 2016 http://www.msn.com/en-us/money/savingandinvesting/21-lottery-winners-who-blew-it-all/ss-AAgrPBR?ocid=HPDHP#image=1 Stayin Not unlike the stories of big time athletes that come into money quickly... Link to comment Share on other sites More sharing options...
Punching Bag Posted January 29, 2016 Share Posted January 29, 2016 Plan everything out before cashing including name change, new place to live and legal protections. Let the press have the name since required but then disappear but since I have never bought a lottery ticket will never happen. Link to comment Share on other sites More sharing options...
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