Powerball/Lotto Thread - YOU DIDNT WIN BUT WHAT IF

[FNH]

If you won 300mil you can afford to buy giant houses and small islands and still not run out.

After taxes I think each of these three clear 178m which is a lot, sure, but not enough to spend say 30m on a house in say Miami, imo. Or a 20 mil private island (I'd like to see an example just out of sheer curiosity). There's tons of costs associated with those purchases that I think would quickly burn through that money(insurance, taxes, you'd probably be paying people to do landscaping and cleaning, etc.) Just seems like a waste for someone who likely wouldn't be having income outside of drawing interest. Which when they blow so much of the principle there isn't much to draw from.


edit: 30m home in Coral Gables had $600K~ in taxes

Has there ever been a lottery winner that capitalized on their winnings through good investments or starting a business?

[BaneTheBrawler]

3 years? Man it would be tough to spend 250M or so in 3 years.

you cant stump the trump

[Tyrath]

After taxes I think each of these three clear 178m which is a lot, sure, but not enough to spend say 30m on a house in say Miami, imo. Or a 20 mil private island (I'd like to see an example just out of sheer curiosity). There's tons of costs associated with those purchases that I think would quickly burn through that money(insurance, taxes, you'd probably be paying people to do landscaping and cleaning, etc.) Just seems like a waste for someone who likely wouldn't be having income outside of drawing interest. Which when they blow so much of the principle there isn't much to draw from.


edit: 30m home in Coral Gables had $600K~ in taxes

Has there ever been a lottery winner that capitalized on their winnings through good investments or starting a business?

My only knowledge of private islands comes from the show 'Island hunters' (just as douchey as you'd imagine) and the ones I saw on there were mostly 10-20 mil.

[FNH]

My only knowledge of private islands comes from the show 'Island hunters' (just as douchey as you'd imagine) and the ones I saw on there were mostly 10-20 mil.

Ah ya, I remember catching an episode while visiting my parents.

Maybe it's just me overthinking things like the costs of owning a private island. Plus the thought of having to get to and from, now you have to buy a boat! Not that I wouldn't buy a boat, but location of the island would dictate how large of a boat I would need. I wouldn't want something I couldn't captain myself or maintain.

I even spent some time browsing realty sites for different areas I would want to live and I couldn't even begin to be interested in the homes over 1-2m. There were some where my only thoughts were "Those are some rooms that probably wouldn't ever be occupied" and "How many people would I have to hire to clean that and mow the lawn".

[Marootsoobutsu]

During water cooler talk at work before the drawing and people were talking about buying giant houses and private planes and stupid shit like that. Those things aren't for lottery winners that is for legit rich folks that have a continuous flow of income. You'd have to be straight up retarded to blow through that much in only 3 years. Though I guess you could always resell those things to get some of that back.

No. Not retarded. Most people would honestly not know what to do with that much money, or how to watch it. They are uneducated. They haven't been taught how to manage the money they *already* get, and if you can't manage that, more money is just more to mismanage. They haven't been compelled to deal with the context of "million". It's a number that just seems to equal "Eternal happiness", and a hundred million is beyond their understanding. Not because they are retarded-- because they are mislead, and they are misinformed, and the education they received was more concerned with a standardized test than with the quality of their life.

But seriously, as fun as the thought of receiving a check for $930M is, the lottery is cancerous, and an incredibly cynical blight on society. I loathe it with a passion.

[Roranora]

Voluntary tax for people who are bad at math.

[Petitssk]

The temptation is definitely there... But any smart/sane person would just blow ~$1-$2mil in a house/cars, and in my case $100k worth of arcade machines for my own arcade room. Then give $1-$2 mil to my family for them to quit their jobs to live, and $1-$2mil to my wife's family for the same thing. And just to not be bored at home, i'll work 1-2 days a week at gamestop or something.

If I gave a million or two to my family members, two of them would either be dead or broke within a year, with the surviving ones relying on me for further support - this is not always as good an idea as it seems.

At best, I'd give them enough to cover mortgages and whatever debts they may have, lest they become a danger to themselves and others.

[Mojo]

My co-worker's mom spends $400 a month renting furniture from the rent-a-center. He's tried talking sense into telling her that she's spending about $100 a week on rental furniture. Her response - "No, it's only $400 a month". These are the type of people who win the lottery. They will find stupid ways to spend any amount of money in a relatively short amount of time.

[Anoat]

The winning couple from Florida claimed their share today. http://www.people.com/article/florid...book_peoplemag
70 year old wife, 55 year old husband. That wife is gonna be dead within a year and the husband is gonna be doing coke and coeds till he drops dead himself.

[Inshiya]

"Kaltschmidt plans to become involved with philanthropy, but he is also going to buy himself a new truck because the one he has is falling apart." - perfect.