beefstew25
Posts: 581
Joined: Fri Sep 30, 2005 11:40 am

Mega Millions At $310 Million...

Wed Nov 16, 2005 4:06 am

If you won the whole kitty, what would you do?

I would TRY to keep it on the down low. I then would buy a plane and go to every single Denver Bronco game for the rest of my life.....
MLB: Where you are always number one for takeoff.....
 
9VSPO
Posts: 4187
Joined: Sun May 18, 2008 9:03 pm

RE: Mega Millions At $310 Million...

Wed Nov 16, 2005 4:09 am

I would probably die of a heart attack at the shock so I wouldn't be able to spend it anyway!!  Wow!
 
Pope
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RE: Mega Millions At $310 Million...

Wed Nov 16, 2005 4:15 am

In the spirit of Christmas - I'd buy the world a coke and teach it how to sing.
Hypocrisy. It's the new black for liberals.
 
beefstew25
Posts: 581
Joined: Fri Sep 30, 2005 11:40 am

RE: Mega Millions At $310 Million...

Wed Nov 16, 2005 4:17 am

Quoting Pope (Reply 2):
In the spirit of Christmas - I'd buy the world a coke and teach it how to sing.

With $310 million, you could buy your Gators a win against South Carolina.*



*My wife is a Gator...she is tiring of those comments...
MLB: Where you are always number one for takeoff.....
 
Pope
Posts: 3995
Joined: Thu Mar 24, 2005 5:57 am

RE: Mega Millions At $310 Million...

Wed Nov 16, 2005 4:20 am

Quoting Beefstew25 (Reply 3):
With $310 million, you could buy your Gators a win against South Carolina.*

Given how poorly we've played, I'm not sure that $310M would be enough!
Hypocrisy. It's the new black for liberals.
 
MrHarlot
Posts: 33
Joined: Wed Nov 09, 2005 3:58 am

RE: Mega Millions At $310 Million...

Wed Nov 16, 2005 4:21 am

Buy a jet, learn to fly it, then follow the Formula One circus for a year.

I assume I'd be broke after that, so I'd put aside some sizeable amount to reinvest in the cash machine the lotto was to me - or not  rotfl 
I reject your reality and substitute my own.
 
desertjets
Posts: 7563
Joined: Fri Feb 18, 2000 3:12 pm

RE: Mega Millions At $310 Million...

Wed Nov 16, 2005 4:22 am

I'd probably keep it pretty quiet too. Even with the lump sum award and what you have after taxes you'd have a considerable sum of money. Probably end up needing the services of a good lawyer, accountant, and financial planner to cover your ass.


This is what I would do. Set aside $10-15mil in a variety of savings accounts, stocks, bonds, etc.... The interest from this should provide me with an income that would allow me to not have to work. I'd most certainly go and pay off my debts (student loans, car, credit cards). Then go and buy some toys for myself. A couple of cars, a house or two, but nothing all that extravagant. Next I'd go and gift money to my immediate family. Set up something so my parents could comfortably retire in the next 5-15 years. Set up college funds for my niece and nephew. And for the rest, I would most likely find some very good causes to donate my money to, or set up a foundation.



Which reminds me... I need to pick up my ticket. Gotta play to win.

[Edited 2005-11-15 20:30:35]
Stop drop and roll will not save you in hell. --- seen on a church marque in rural Virginia
 
xjramper
Posts: 2318
Joined: Wed Dec 10, 2003 1:10 am

RE: Mega Millions At $310 Million...

Wed Nov 16, 2005 4:33 am

For those planning on spending money on lotto tickets, please send me the money instead of wasting it on a ticket. I unfortunately don't have the lotto odds on hand. However, iirc, it was like 1 in 365,000,000. Based on that, either set your money on fire or please send it to me.  Smile

XJR
Look ma' no hands!
 
S12PPL
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RE: Mega Millions At $310 Million...

Wed Nov 16, 2005 5:31 am

Ugh, you wouldn't ever seen anywhere CLOSE to 310 mil. Here on Oregon a coupple was fortunate enough to win the Powerball 340 mil. jackpot. After taxes, and other people's cuts of they're matching numbers close to the big one, they walked away with 110 mil.
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xjramper
Posts: 2318
Joined: Wed Dec 10, 2003 1:10 am

RE: Mega Millions At $310 Million...

Wed Nov 16, 2005 5:33 am

Quoting S12PPL (Reply 8):
they walked away with 110 mil.

LOL...only $110 million. I would be sooooo angry.  Silly

XJR
Look ma' no hands!
 
fbgdavidson
Posts: 3563
Joined: Thu Oct 14, 2004 6:25 am

RE: Mega Millions At $310 Million...

Wed Nov 16, 2005 6:18 am

According to highway billboards the chances of winning are 1 in 176 million. And yes taxes will take a very large chunk out of the money.
"My first job was selling doors, door to door, that's a tough job innit" - Bill Bailey
 
beefstew25
Posts: 581
Joined: Fri Sep 30, 2005 11:40 am

RE: Mega Millions At $310 Million...

Wed Nov 16, 2005 6:26 am

Okay, well assume you win...

What are you going to do? Travel, charity, etc....

I would build my school a new hoops arena...and you had better damn know my name would be on it...

Beef Stew Memorial Arena
MLB: Where you are always number one for takeoff.....
 
srbmod
Posts: 15446
Joined: Tue Mar 20, 2001 1:32 pm

RE: Mega Millions At $310 Million...

Wed Nov 16, 2005 7:42 am

Correction, the jackpot is now up to $315 Million.

After a few calculations, if one person won tonight's jackpot and chose the cash option, they'd end up with around $155-165 million before taxes (I don't know the exact percentage difference it is if you take the lump sum, but it is somewhere in the 50% range). After taxes (which is between 30-40% depending on the state), they'd end up with around $100 million. If they were to take it in the form of a 30 year annuity, their annual payout before taxes would be $10.5 million; after taxes, around $6 million (rough gestimate). By taking it in the form of an annuity, you would over the course of the 30 years end up with around $180 million or so. Myself, I'd probably go ahead and take the lump sum, as $100 million or so is plenty enough.

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