Augie Posted October 21, 2018 Posted October 21, 2018 36 minutes ago, ExiledInIllinois said: Sure... But it's gonna be in Gary, Indiana. Bring protection. Funny story, but I met a guy once and we were all doing the whoile where you from, what do you do thing. He said “I’m from the arm pit do the United States”. I said “oh, Gary, Indiana”. He said “I see you’ve been there.” No I just drove through once on the way back from Notre Dame, but I was pretty sure. Great guy. 1
teef Posted October 21, 2018 Posted October 21, 2018 2 hours ago, RochesterRob said: Got to change your thinking entirely with that money. Your old life is over with and that is the mistake a lot of people make. You have to cut most of your old friends and family loose. Gated community and security people are must haves. Move away and move again within a year. I think you need a good attorney, a good accountant, and a good financial planner in place before you even accept the money. That being said, that kind of cash is almost hard to spend. It’s not like someone will walk home with 5 mill that they can blow through. It’s such a money grab it’s not funny.
Augie Posted October 21, 2018 Posted October 21, 2018 (edited) 24 minutes ago, teef said: I think you need a good attorney, a good accountant, and a good financial planner in place before you even accept the money. That being said, that kind of cash is almost hard to spend. It’s not like someone will walk home with 5 mill that they can blow through. It’s such a money grab it’s not funny. I think with $5Mil you need good a good attorney, CPA and planner. With $1.6B you can get by with the drunk guy Otis from Mayberry, but NOT the average NBA player! There ARE limits. Edited October 21, 2018 by Augie 1
mead107 Posted October 21, 2018 Posted October 21, 2018 I have a friend who won on a scratch off ticket. Paid over 20 years. He has 8 or 9 years left. Clears $172,000 per year.
Augie Posted October 21, 2018 Posted October 21, 2018 24 minutes ago, mead107 said: I have a friend who won on a scratch off ticket. Paid over 20 years. He has 8 or 9 years left. Clears $172,000 per year. I got a Meadcoin at a tailgate. I think that might be better, but I’m waiting to see how the market shakes out.
RochesterRob Posted October 21, 2018 Posted October 21, 2018 (edited) 19 hours ago, teef said: I think you need a good attorney, a good accountant, and a good financial planner in place before you even accept the money. That being said, that kind of cash is almost hard to spend. It’s not like someone will walk home with 5 mill that they can blow through. It’s such a money grab it’s not funny. Getting good professional advice is important but you have to take your own measures to protect yourself from other people. To a lot of people once you come into that kind of money you are the lamb and they are the wolves unless you take measures to protect yourself. There was a story about some guy outside of Pittsburgh 30 years back that won several million dollars which at that times was a lot of money. The guy was noted as not being people smart and liked his cronies at his neighborhood bar. The guy was dead within a couple of years and the circumstances surrounding the death were suspicious and his friends had received a considerable amount of this guy's money in the interim. Pretty easy to spend that kind of money on serious real estate such as in NYC, Chicago, LA, etc. Edited October 21, 2018 by RochesterRob 1
apuszczalowski Posted October 21, 2018 Posted October 21, 2018 59 minutes ago, mead107 said: I have a friend who won on a scratch off ticket. Paid over 20 years. He has 8 or 9 years left. Clears $172,000 per year. I won just over $1,200 on a football pool one week like 7 years ago, bought an engagement ring with it......... Also won a couple hundred that same week on another sports ticket and bought a new BlackBerry Playbook Tablet......... I'm good at investments, lol.......
row_33 Posted October 21, 2018 Posted October 21, 2018 1 hour ago, mead107 said: I have a friend who won on a scratch off ticket. Paid over 20 years. He has 8 or 9 years left. Clears $172,000 per year. The same lottery booth in town sold million dollar winning scratch tickets to my secretary and also a firm client two years apart. a friend’s uncle won several million a week after he found out he was dying soon, split most of it up to his children and nieces/nephews. 1
TSOL Posted October 21, 2018 Posted October 21, 2018 I would just build an AI powered robot army and take over everything, with that kind of scratch.
\GoBillsInDallas/ Posted October 21, 2018 Author Posted October 21, 2018 Nobody won Saturday's Powerball either, so Wednesday's Powerball is now $620,000,000. BTW, the odds of winning both are 1 in 88,000,000,000,000,000.
Just Jack Posted October 21, 2018 Posted October 21, 2018 On 10/20/2018 at 10:02 AM, joesixpack said: one point 6 billion dollars. wonder what after-tax is on the single payment A good rule of thumb is one third. So only about $500M.
John from Riverside Posted October 21, 2018 Posted October 21, 2018 I buy a ticket twice a week....... I know that a shark might eat me before I actually win but......
stony Posted October 21, 2018 Posted October 21, 2018 25 minutes ago, Just Jack said: A good rule of thumb is one third. So only about $500M. In NY, lump sum net would be ~$608M
Pine Barrens Mafia Posted October 21, 2018 Posted October 21, 2018 I heard somewhere that if you take the annuity, they give you cost of living increases annually. No kidding.
BuffaloBill Posted October 21, 2018 Posted October 21, 2018 I could survive on this, it would be tough but doable.
Just Jack Posted October 22, 2018 Posted October 22, 2018 1 hour ago, BuffaloBill said: I could survive on this, it would be tough but doable. $100M for myself Parents and Mother In Law expenses taken care of for the rest of their lives. $1M for each direct relation to use as they wish (siblings, nieces, nephews, in-laws) A scholarship to my high school The rest would be donated over the years to charities, pay off people’s lawaways at Christmas, any other things I can think of. But no direct appeals to me, I will reject them. 1 hour ago, John from Riverside said: I buy a ticket twice a week....... I know that a shark might eat me before I actually win but...... I have a subscription through the NY Lottery for Lotto, Mega, and Cash4Life. PowerBall is the only one they don’t offer so I have to go to a store to get that ticket. Thankfully I can get 13 weeks of draws on one slip.
Augie Posted October 22, 2018 Posted October 22, 2018 56 minutes ago, Just Jack said: $100M for myself Parents and Mother In Law expenses taken care of for the rest of their lives. $1M for each direct relation to use as they wish (siblings, nieces, nephews, in-laws) A scholarship to my high school The rest would be donated over the years to charities, pay off people’s lawaways at Christmas, any other things I can think of. But no direct appeals to me, I will reject them. I have a subscription through the NY Lottery for Lotto, Mega, and Cash4Life. PowerBall is the only one they don’t offer so I have to go to a store to get that ticket. Thankfully I can get 13 weeks of draws on one slip. No mention of Augie? I’m sure that’s just an oversight. ? 1
Soda Popinski Posted October 23, 2018 Posted October 23, 2018 how do you not take the payments? It's 40 mil a year isn't it? for 30 years? Give me that. If I can't make that much money work a year i'm not trying hard enough. 1
4merper4mer Posted October 23, 2018 Posted October 23, 2018 5 minutes ago, Soda Popinski said: how do you not take the payments? It's 40 mil a year isn't it? for 30 years? Give me that. If I can't make that much money work a year i'm not trying hard enough. You realize that subjects you to the solvency of government and the whims of the future rule makers, right? How many Mead coins can I get after taxes for this?
Soda Popinski Posted October 23, 2018 Posted October 23, 2018 3 minutes ago, 4merper4mer said: You realize that subjects you to the solvency of government and the whims of the future rule makers, right? How many Mead coins can I get after taxes for this? It's fine. If you take that lump sum and put it in the bank you take the same gamble, and if you bury it in the back yard that's even worse.
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