Aces High Bulletin Board
General Forums => The O' Club => Topic started by: -gg- on July 29, 2022, 07:27:12 PM
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I have two tickets, plus I gave 5 bucks for the office ticket pool.
I don't normally buy lotto tickets because it's a total waste of money - but 1 billion is worth giving it a shot, lol.
There was some chump locally here that bought 100,000 dollars for this same lottery last week. I saw him on the news - he had posted video with all his tickets. He only got 5,000 dollars back from his investment. What a fool. The odds are not significantly better than just buying one ticket
So what would you do if you won?
I'd take a lump sum payment.
I don't think I'd go too crazy buying anything. I'd probably buy a small place on a little bit of land. Nothing outrageous. I'd get a new Explorer in the top trim.
I can't think of anything I'd want to just start buying.
I'd take care of my immediate family and friends
What would you do?
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Out of a bil? Going to wind up with about 66% of it. Nothing to sneeze at.
Put original ticket in the safe, get the best money management company I could find, work with them over weeks to deal with immediate goals such as lakefront land, a beach home, vehicles, my dream house plans. Etc. That's the immediate cash I'd need to accommodate that. As my parents are on their last years (and it's more than an honor to be here taking care of them in those last years) I'd give them access to a 'slush' fund so they could buy whatever they wanted. 2 to 5 mil would easily take care of that and I'd hope my dream house could be built with them in mind before they passed.
After that I'd have the financial team give me an 'allowance' every year for everything after taxes and bills. That's my cash to 'play' on.
I might pony up for a serious RV and travel some but, without my former partner in crime, it just doesn't seem like it would be as much fun.
I'd like to set up something for spouses displaced by domestic abuse and their children especially.
Other than that I'd prefer to fade into the background as quick as I could and just be me. Not saying it wouldn't be fun to drop 5k worth of system and controllers anonymously on the rando on here though. That would just come out of my 'fun' money.
Hmmm.. maybe make Hitech an offer he couldn't refuse, co opt some members I know and trust, and see what I could do about getting the best and brightest talent in the market doing a major overhaul and upgrades. Anonymously again of course. I'd still prefer to be the 'dicho' that some of you know as the guy that had the cool toys but still sucked :D
Speaking of I'm considering a name change when I return. Can't decide between Patrone, White15, or Tabrityfarms. Dicho is kind of a bit from my past. :)
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That's very smart of you. And sweet also.
One thing that I couldn't even imagine is getting ready to receive that money somehow. You can't just put it all in one bank account. Or can you? It wouldn't be insured for more than $250,000.
So what do you do actually? The logistics of that ...getting that much money.
The other thing I might worry about is being exposed as the winner. I mean I live in a little trailer park and somebody could walk right into my place there's no gate or anything. Kidnap me or something.
And then the family and friends coming out of the woodwork.
I'd like to think that I would remain humble and I think I would. I've always been guided by my heart and never really cared about material things. But man, to have my own little place somewhere on a little bit of land would be such a dream come true.
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dissappear that same night. couple of months later. set up trust funds. come back to ah with a new name. and oh yeah make ah free for a year.
semp
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Yes. I would have to disappear that very day.
Someone else told me that they would set up a trust fund as well. How does that work? Doesn't that mean that you don't control the money anymore?
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I'd buy Montana. And if I couldn't get Montana, I'd settle for Wyoming. Off the grid, of course.
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I believe the chump that spent 100k owns a company with 50k employees. he also planned to share the money with his employees.
semp
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he just spent another 100k.
semp
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All I know is that you people hold up the line to the register while the rest of us wait to purchase more worthwhile items, like beer and tobacco. Give me a number 5 ... no wait ... make that a number 12 ... and a number 7 ... oh heck, give me a quick pick too. :bhead
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Would rather see 11,000 $100,000 winners than one 1.1 billion dollar one
Talk about gluttony...
Eagler
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That's very smart of you. And sweet also.
One thing that I couldn't even imagine is getting ready to receive that money somehow. You can't just put it all in one bank account. Or can you? It wouldn't be insured for more than $250,000.
So what do you do actually? The logistics of that ...getting that much money.
Fiction being stranger than truth, one of my novels involved a guy who won $100 million+ in a lottery and I had to do a lot of research about how to handle that money. And you're right, you can't just deposit it into a passbook savings account unless you want the vast majority to be at risk.
What you can do is let the lottery corporation hold the money until you can set up an account with a wealth management specialist, at some financial house. In my book, the guy used Merrill Lynch because a) that's where my retirement is, b) I have a close relationship with my advisor, and c) he did take the time to outline the process step by step.
The lottery does a wire transfer to Merrill Lynch and then the wealth management specialist begins investing the money. Merrill Lynch will issue either a credit card or bank checks (Merrill is owned by BOA, so the cash management account would actually be a checking account with a local branch of BOA) and you can start spending money as soon as you like.
Your money will be safe from everything but market volatility and inflation, and that is the rub. Single person purchases of even $100 million dollars would create a noticeable amount of market instability, so it all has to be done slowly.
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Would rather see 11,000 $100,000 winners than one 1.1 billion dollar one
Talk about gluttony...
Eagler
I had friend of mine once whose mother died and left an estate building life insurance policy behind. Yvonne took the money and bought three dress shops and invested quite a bit in the market, but she took about $150K and bought a very large diamond ring. The center stone was seven carats and there were four 1.5 carats diamonds, two on each side. The first time I saw Yvonne after she bought the ring, I said, "Yvonne that ring is really just vulgar." So she said, "Hold out your hand." I held out my hand and she slid the ring on my pinkie. Then she said, "Not so vulgar now, is it?"
As a matter of fact, it wasn't.
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Yes it was...
It's what's wrong with us
Eagler
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Yes it was...
It's what's wrong with us
Eagler
Eagler, we're going to have to disagree on this. Capitalism is all about being able to keep the things you amass legally. Granted that greed/gluttony is one of the seven deadlies, winning and keeping a billion dollars would not make me a bad person. Besides, this thread is really about 'what fantasies you would have if you won' and not necessarily a serious discussion about what's right and moral to do when lottery winnings.
I give plenty of money to charities now, and if I won, I expect I would continue to do so, but on a larger scale. On the other hand, I would really like to own Montana or Wyoming. Since I'm normally anal/retentive, Wyoming is actually more attractive to me.
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Lottery’s are for peasants in Mexico
That’s how bad it has got in the US
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Lottery’s are for peasants in Mexico
That’s how bad it has got in the US
Much of mexico is over here. They don't even have an Olympic team as all of them that can run, jump, or swim.... are over here.
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Because you Yanks are lazy
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Just think if more ppl won much less but still a game changer..11,000 ppl each winning 100k...more possible good could come of it
Eagler
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All I know is that you people hold up the line to the register while the rest of us wait to purchase more worthwhile items, like beer and tobacco. Give me a number 5 ... no wait ... make that a number 12 ... and a number 7 ... oh heck, give me a quick pick too. :bhead
I call them 'lotto loons' and I feel your pain. Probably a good thing I don't open carry even though it's legal here. The desire to air out what passes for someones brain sometimes is almost overwhelming.
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Fiction being stranger than truth, one of my novels involved a guy who won $100 million+ in a lottery and I had to do a lot of research about how to handle that money. And you're right, you can't just deposit it into a passbook savings account unless you want the vast majority to be at risk.
What you can do is let the lottery corporation hold the money until you can set up an account with a wealth management specialist, at some financial house. In my book, the guy used Merrill Lynch because a) that's where my retirement is, b) I have a close relationship with my advisor, and c) he did take the time to outline the process step by step.
The lottery does a wire transfer to Merrill Lynch and then the wealth management specialist begins investing the money. Merrill Lynch will issue either a credit card or bank checks (Merrill is owned by BOA, so the cash management account would actually be a checking account with a local branch of BOA) and you can start spending money as soon as you like.
Your money will be safe from everything but market volatility and inflation, and that is the rub. Single person purchases of even $100 million dollars would create a noticeable amount of market instability, so it all has to be done slowly.
That's interesting.
So basically you would be putting most of the money into investments?
I don't know anything about finances on that scale but in my simple mind, I'd not want my money all over the place and in some investment account. I'd want it in one place and just live off of it. I know that's not practical though - just my instinct.
I guess someone would have to keep track of it all. That would be a major job.
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That's interesting.
So basically you would be putting most of the money into investments?
I don't know anything about finances on that scale but in my simple mind, I'd not want my money all over the place and in some investment account. I'd want it in one place and just live off of it. I know that's not practical though - just my instinct.
I guess someone would have to keep track of it all. That would be a major job.
Well, what this character did was buy huge blocks of various stocks. Coca-Cola, for instance, selling at 64.17, 100K shares would be 6.41 mil and generate $176K per year in dividend income. But, as I said, that was a novel. My broker and I keep 22% percent of my holdings in cash, just for times like now, when AT&T has gone from $26/share to about $18/share. I think his magic number on that is $14, at which point he'll buy and then tell me what I spent.
But the winner on this jackpot got something like $676 mil, and 22% of that is $148 mil. WAY too much to keep that liquid.
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I had friend of mine once whose mother died and left an estate building life insurance policy behind. Yvonne took the money and bought three dress shops and invested quite a bit in the market, but she took about $150K and bought a very large diamond ring. The center stone was seven carats and there were four 1.5 carats diamonds, two on each side. The first time I saw Yvonne after she bought the ring, I said, "Yvonne that ring is really just vulgar." So she said, "Hold out your hand." I held out my hand and she slid the ring on my pinkie. Then she said, "Not so vulgar now, is it?"
As a matter of fact, it wasn't.
What do you mean? That after it was on your pinky it looked pretty small?
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I call them 'lotto loons' and I feel your pain. Probably a good thing I don't open carry even though it's legal here. The desire to air out what passes for someones brain sometimes is almost overwhelming.
lol. Yeah. They drive me crazy too. They stand in front and pencil in numbers too. Checking a stack of tickets and buying new ones.
You know what else I've noticed about a lot of these people? They seem kind of empty. Maybe it's just me - but I have a lot of empathy for people and I look at these people and wonder. It's sad for me. I feel the same thing when I see people with a big bucket of coins sitting for hours at slot machines. Sometimes they even play two or three machines at the same time - and they don't look like they are having any fun. I mean, it's not like blindly hitting the button over and over again is entertainment.
It might just be me - but I feel like a lot of people are lost souls. And it's sad.
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What do you mean? That after it was on your pinky it looked pretty small?
No, it didn't look small, but it looked a lot more tasteful. It's all perspective.
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After 148 I think I'd be pretty set with houses, land, cars, and toys. Just let the rest sit and draw interest for my yearly allowance thanks :)
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lol. Yeah. They drive me crazy too. They stand in front and pencil in numbers too. Checking a stack of tickets and buying new ones.
You know what else I've noticed about a lot of these people? They seem kind of empty. Maybe it's just me - but I have a lot of empathy for people and I look at these people and wonder. It's sad for me. I feel the same thing when I see people with a big bucket of coins sitting for hours at slot machines. Sometimes they even play two or three machines at the same time - and they don't look like they are having any fun. I mean, it's not like blindly hitting the button over and over again is entertainment.
It might just be me - but I feel like a lot of people are lost souls. And it's sad.
Fair points. I never looked at it with that perspective. I was always looking at the back of their heads thinking 'good GOD just make your purchase and get the !#$!% out of my way'. I have a lot of patience actually but people being so willfully ignorant of the world around them that they're actually rude really aggrivate me.
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well, I didn't win because I was cheated and demand a recount.
semp
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well, I didn't win because I was cheated and demand a recount.
semp
Not cheating. Internet lag.