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What The FudgeCake?
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710 Posts
Discussion Starter #1
Well, the saga is over...the 340 million dollar powerball winner is in Oregon. Lucky bastard!

Anyway im interested in what some of you would have done had you won the powerball...

30 year annuities at about 7.7million a year, or the lump sum that would equal about 110.1million dollars after fees and penalties for taking the lump sum.


What would you have done with it, spent it on, saved it with, and used it towards?

I would have taken the lump sum, invested over 80% of it, lived off the interest and bought a house, nothing extravagant, but nice...paid off my beetle, give it to my friend that needs a car, buy a 2005 convertable with xenons, a turbo of course, a phaeton for the long road trips, and passed out some to my close family and friends of course... i wouldnt spend more than 1-3 million dollars within the first year or two..

Any thoughts?
 

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Super Moderator
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5,308 Posts
Not sure if I would take the lump sum or the payments, but I would put most of it in savings and live off the interest and what not. Pay off the bug, buy 6 more or so :p 1 for each day of the week. (j/k) Build a few houses, etc etc. Oh and buy one of those Bugatti cars that are $1.25M :D or maybe two :D
 

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<-----No More Beetle :(
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18,312 Posts
I would take the annuity and I would buy a house for my parents, my brother and his wife and 2 kids and my brother and his gf and daughter, and my sister. I would get my cousin's house renovated for her and I would buy myself a house. I always said if I ever won a large sum of money in the lottery I would buy a large piece of land in a temperate climate and just build a bunch of houses on it and give the houses to my family so we could all live near each other. I would also buy everyone a car of their own choosing (within reason of course)
and pay off everyone's debt. I would also donate a large sum of money to the American Cancer Society. The last thing I would really like to do is take a month long vacation somewhere to maybe hawaii. There are so many things I would do with all that money I could be here all day typing about it.
(I just reread all that and I sound like a 3rd grader but I'm too tired to fix it. I really shouldnt do anything in the morning before my coffee kicks in! lol)
 

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a.k.a. porkchopzz4
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890 Posts
I would keep going to work each morning and not let it go to my head. Maybe buy a new Volkswagen.



Yeah. Right. I would sock a good chunk away and live on the interest (this capital would be untouchable - so in case I squander the rest, I've always got lifetime income so I don't have to work). I'd take about a mil and have fun as a day trader. I'd apply at an ivy league school for my MBA (instead of the state school I'm enrolled at now) - I've got the GMAT score for most of the ivy league schools. I would travel the world for months at a time. I would set up education trusts for my neice and nephew. I would pay off my sister's house, my father in-law's house, and my sister-in-law's house. I would work with my brother-in-law to design my dream house: modern, ultra-efficient, completely energy self sufficient. It would be in the mountains - probably appalachians - although we'd have to buy a cottage somewhere out west - probably Oregon.

Man, have I spent it all yet?
 

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Beetle Cup racer
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567 Posts
Id buy a house next to John Travolta on FLA, and also buy a large airliner a Tristar or a 757, be friends with him, and talkin him out of that Scientology Crap..... Why him? because he is a cool guy and because Tom Cruise is beyond all hope...

I work for the national lotery in Mexico and youd be surprised the stupid things people do to the money....
 

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Super Moderator
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14,714 Posts
The winning ticket was bought in the little Southern Oregon town of Jacksonville. But, it might have been a Californian coming across the border.......

I do know, it wasn't me. :(
 

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Grandma LOVES bubbles!!
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1,450 Posts
We bought a ticket for each grandkid, so that they could take care of us!!:D Also bought one for my son who is a manager at Wendy's and told him if we won, we'd buy him a Wendy's!!! He'd rather have the $$$$$ Sadly, we matched one number on two different tickets!! Oh well, they always say "you can't win if you don't play"!!!:rolleyes:
 

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Smiling's my favorite
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251 Posts
DEFINITELY take the lump sum. I don't want some lottery people holding onto my hard-earned money. Ok, well maybe it wasn't hard-earned, but it's mine!!!

Quit my job as fast as I can, vacation for at least a year, pay off my brother's house, give him and his family a nice big chunk of change, help out my close friends...Gosh, how much fun it would be to try to spend that money!

Actually, my office had a pool for the Powerball, and we won $20!!! Yes! But wait, we have to split that among 37 people, so not so much. :eek:) Oh well!
 

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Super Moderator
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14,714 Posts
Fowvay said:
Damn it... I was sooooo hoping it was you :(
You know it! If it was me, I would have paid off your mortgage........ It's OK to fantasize, isn't it? :rolleyes:
 

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Your mileage may vary
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7,566 Posts
Since I'm 50, I'd go for the lump sum of 110 million. Taxes would probably knock that in half. So, ahem, I have 55 million dollars clear to spend.

First, I'd give 5 million to the Red Cross, on the stipulation they could only buy emergency vehicles with it.

Second, I'd spend 10 million on an apartment building and invite people I like to live there without any cost to them forever. An additional 2 million in some sort of trust fund should cover expenses and utilities to keep the building going. It'll probably be in New York City. (In the event of an apartment becoming vacant, new tenants will be admitted by voting of the building's remaining tenants.)

Third, I'd give my brother and his family 10 million. I figure that'll cost about 20 million (including their 10). Aunt Sadie, who's in her mid-80s, gets a million or so to live in an eldercare facility for the rest of her life.

At this point, doing that, plus hidden costs will leave me about 5 million.

With that, I'd quit my job and buy a nice little house, probably in Seattle. Most likely, there'd be enough left after that to slightly upgrade my lifestyle and not have to think about expenses for the rest of my life.

Kinda dull, huh?
 

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Premium Member
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2,717 Posts
Take it, invest it, give it away. Simple.

Lot of people could use that, and how much does a person really need?

-Des
 

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Premium Member
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179 Posts
If you take the annuity, is that considered the same as a structured settlement? If so one way to get the whole 300+ million would be to take the annuity, then get some slick lawyer to sue for the remaining amount. That way you have all of your money without any fees or penalties.
Aww shucks it probably wouldn't work but if some moron can sue for spilling hot coffee on themselves and win.....I don't see why it wouldn't!
 
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