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Your Powerball jackpot plans...


Pete

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Can you buy an island? Sure. Can you build a house and systems for power and water and all the other shit you'd need to actually make your life what you want it to be on the island? Sure. But it would take YEARS and be a GIANT FUCKING PAIN IN THE ASS.

Ask a construction foreman about all the shit that makes projects a nightmare, and realize he's probably talking about an apartment complex or an office building in a major metropolitan area.

And if your answer is "I'll hire someone to do that" then quadruple your cost estimate cuz you just put up a sign reading "EMBEZZLE THE SHIT OUT OF ME" on that island of yours.

Seriously, who wants that sort of headache? Especially when the whole idea is to not have to worry about shit. Buy some mansion in Malibu or something.

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most of you are making the first mistake of letting a lot of people know you won

 

I wouldn't do that shit

 

People would wonder why I was suddenly driving the Batmobile and I'd tell them I sold a script

 

Yeah, the more I think about this and the more stories I read about some of the idiots who "won" (the dude in WV who left $500K in his truck, the woman in NC who's spent $9 million bailing her heroin addict BF out of jail etc), I'm thinking I play my cards as close to the vest as possible. It doesn't help that New York requires you to identify yourself... no LLC for me.

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People are too good at digging up data. Doesn't Powerball know the exact location and time the winning ticket was purchased? So unless you traveled way out of state, people are going to find out sooner or later.

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Pay off family debts, homes, etc. so they could retire. 

Get my teeth fixed, any other medical issues taken care of.

Buy a home (L.A. based with room for a gym, have a pool and jacuzzi. Good security and good neighborhood), decorate it and buy a new reliable car,

Look for interesting things to invest in.

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All debts, gone

Parents never have to work again

Sister and brother-in-law never have to work again

Lots of charities getting lots of monies

Gigantor house with a separate full-on arcade and separate guest houses that are like actual houses (like 800 square feet or so...I didn't say they'd be big houses)

Uhm...and pretty much buy whatever the fuck I want.

Oh, and also whatever the wife wants to do with it

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most of you are making the first mistake of letting a lot of people know you won

 

I wouldn't do that shit

 

People would wonder why I was suddenly driving the Batmobile and I'd tell them I sold a script

 

In some states you have to agree to have your likeness used in promotional videos if you win.  You can't help but have someone know because they immediately put you in a press conference.

 

That is why I buy my tickets in Maryland.  No one will know I am a kabillionaire unless they come to my house and see the new furniture, the 88 LCD home theater system in my loft, and the 600 Beamer and Ford Raptor in the garage.

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All debts, gone

Parents never have to work again

Sister and brother-in-law never have to work again

Lots of charities getting lots of monies

Gigantor house with a separate full-on arcade and separate guest houses that are like actual houses (like 800 square feet or so...I didn't say they'd be big houses)

Uhm...and pretty much buy whatever the fuck I want.

Oh, and also whatever the wife wants to do with it

Yours is similar to mine:

I'd start by putting like $100m or $200m somewhere that will generate interest I can live off for the rest of my life.

Next I buy a plot of land and build a compound - killer house with arcade, indoor pool (with water slide), arcade, and theater for us. Then a house on the same land for my mom and another for my wife's parents. Then a guest house. And a clubhouse-type place for my wife and her friends to have scrapbook gathering. Ideally, these would all be connected by underground tunnels or something and would have elevators to get between floors.

All debts paid off.

A nice chunk of money to my brother and to my wife's brothers.

A nice chunk of money to my nieces and nephews.

A bunch of money to the guy who bought Mike Eruzione's gold medal and Olympic jerseys so I can get those in my man cave.

A bunch of money to medical research - probably a combination of Parkinson's and cancer. But actual research not just organizations that do "awareness" crap.

A bunch of money charities/church.

Make an offer to Bobby & George Brett to buy the Spokane Indians. After that, hook up the people who've sat by us for years with lifetime season tickets and food passes.

Travel. Lots of visits to places like Maui for weeks at a time.

Tons and tons of hockey and football jerseys.

And, after doing all that, I'd probably still have $150m left - probably more.

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538 has two interesting pieces on Powerball--one on how, by changing the odds to ensure mega-jackpots, they may have ensured one but made it harder to get another (their take: by making it harder to win $40m in the name of encouraging growing pots, they risk alienating the every-drawing buyers AND raise the bar for when the press starts paying attention and hyping shit), and one on why you should take the annuity (basically, you're having the government pay you interest equal to or better than what you can get in a low-risk low-yield system on your own, reducing the interest and preventing willpower-related issues).  I'm still not sold on the annuity, but that has more to do a semi-irrational fear of future economic instability and a firm belief that taxation will increase dramatically during my lifetime than sound arguments.

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538 has two interesting pieces on Powerball--one on how, by changing the odds to ensure mega-jackpots, they may have ensured one but made it harder to get another (their take: by making it harder to win $40m in the name of encouraging growing pots, they risk alienating the every-drawing buyers AND raise the bar for when the press starts paying attention and hyping shit), and one on why you should take the annuity (basically, you're having the government pay you interest equal to or better than what you can get in a low-risk low-yield system on your own, reducing the interest and preventing willpower-related issues). I'm still not sold on the annuity, but that has more to do a semi-irrational fear of future economic instability and a firm belief that taxation will increase dramatically during my lifetime than sound arguments.

Here's why you take the lump sum: you can't will the annuity to anybody.
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538 has two interesting pieces on Powerball--one on how, by changing the odds to ensure mega-jackpots, they may have ensured one but made it harder to get another (their take: by making it harder to win $40m in the name of encouraging growing pots, they risk alienating the every-drawing buyers AND raise the bar for when the press starts paying attention and hyping shit), and one on why you should take the annuity (basically, you're having the government pay you interest equal to or better than what you can get in a low-risk low-yield system on your own, reducing the interest and preventing willpower-related issues). I'm still not sold on the annuity, but that has more to do a semi-irrational fear of future economic instability and a firm belief that taxation will increase dramatically during my lifetime than sound arguments.

Here's why you take the lump sum: you can't will the annuity to anybody.

I'd bet even with just the first annuity payment you can buy a hell of a life insurance policy.

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I'd will all my earthly posessions to Tabe, seeing as how I plan to be blasted into space with everything I'd have accrued, this won't amount to much.

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Hire a lawyer, hire a financial specialist, pay off debt, buy my wife a house in PA near her family, hire divorce lawyer, invest money in tax-free municipal bonds, keep enough playing around money so I can never have to work again

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Not knowing anything about your situation...but that sounds kinda dark.

 

Going through the last season of It's Always Sunny makes me think that doing Frank Reynolds type shit for a week may be fun. 

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