Powerball is at 1 Billion $$. What would you do if you won?

[rickymouse]

The last drawing, I had two Michigan lotto spin the wheel coupons, spend six bucks get three bucks off.  So I bought six of the powerball tickets for six bucks.  Only way I will buy them is if there is a discount.  Knowing my chance of getting my money back is slim because of the odds.  Well, twelve dollars of tickets which I paid six bucks for at least produced a powerball match, so I got four bucks back. 

So this time I used a two dollar off five dollar coupon to buy two powerball tickets and a one dollar lotto forty seven.  So basically all three tickets totaled three bucks...a buck a piece, but the lotto forty seven is a one dollar ticket, but I am frugal when it comes to gambling...the chances of getting your money back in scratchoffs is not that great, you are lucky to get thirty percent return on the investment overall.  So I usually use those coupons to buy scratch off, It is nice when you do not lose too much and scratchoffs seem to have smaller pots but more small wins.

Out of the three dollars I spent for five bucks of tickets I will most likely not win anything, but because I get a bug in my butt with a super high jackpot, I usually buy one, in this case I got two with a forty percent discount from the MI lottery daily spin.

I would probably be better off losing that than winning the powerball, my life would go to hell with the powerball jackpot.....and the wife and I both agree, if we won a big jackpot, both of us would have a heart attack and die before even handing the ticket in, and the daughters would toss it in the garbage not knowing we won.  I wonder how many people win those big jackpots and die from heart attacks before cashing it in.

If we won, the first thing we would do is pay off the kids houses, and put them on a yearly allowance, requiring them to come visit us at least twice a year to get the next half of their yearly allowance.  My youngest daughter would be flying all over the world...I could impose a climate tax on her allowance if she does that, cutting it down ten percent since she believes in climate change but causes more climate impact than the wife and I ever did.

I would want a new tractor with a cab and snowblower but that is about all I would buy.  I guess I would have to build another garage, for that tractor, the forty seven cub, and the 77 ford tractor I already have...plus that new tractor.  Need a car lift in there too I suppose to work on my own cars and trucks.. I already have a scissor life with a sixty seven buick sitting on it...dead horse syndrome.

Then I would not need to hire anyone to blow my snow, I like doing stuff on my own while I still can, so I suppose I can hire one of my grandkids to work with me around the house.  At seventy I do need someone to help me, I lost lots of muscle mass already but at least my back is not hurting so much anymore since I don't constantly lift more than I should be lifting

All I would need is a million bucks, a billion seems like it is more hastle than it is worth.  I got so much tools and things now, what would it be life if I came into a lot of money, our five and a half acres would be full of all sorts of new junk, I would have to buy a big warehouse.  Most of what we own has memories behind it, we gave away most of the stuff that does not have personal value already.  Had the three boats and a canoe, gave all those away already, I don't like to be a packrat.

By reading the first three paragraphs, you guys will see I am frugal, I do not like to splurge on things like lotto when the odds are not very good.  I am not into trying to keep up with the jones's, I am not addicted to the high derived from spending money, in fact, I am happier fixing up old stuff than buying new stuff.

[ReturnofBroccoli]

The last drawing, I had two Michigan lotto spin the wheel coupons, spend six bucks get three bucks off.  So I bought six of the powerball tickets for six bucks.  Only way I will buy them is if there is a discount.  Knowing my chance of getting my money back is slim because of the odds.  Well, twelve dollars of tickets which I paid six bucks for at least produced a powerball match, so I got four bucks back. 

So this time I used a two dollar off five dollar coupon to buy two powerball tickets and a one dollar lotto forty seven.  So basically all three tickets totaled three bucks...a buck a piece, but the lotto forty seven is a one dollar ticket, but I am frugal when it comes to gambling...the chances of getting your money back in scratchoffs is not that great, you are lucky to get thirty percent return on the investment overall.  So I usually use those coupons to buy scratch off, It is nice when you do not lose too much and scratchoffs seem to have smaller pots but more small wins.

Out of the three dollars I spent for five bucks of tickets I will most likely not win anything, but because I get a bug in my butt with a super high jackpot, I usually buy one, in this case I got two with a forty percent discount from the MI lottery daily spin.

I would probably be better off losing that than winning the powerball, my life would go to hell with the powerball jackpot.....and the wife and I both agree, if we won a big jackpot, both of us would have a heart attack and die before even handing the ticket in, and the daughters would toss it in the garbage not knowing we won.  I wonder how many people win those big jackpots and die from heart attacks before cashing it in.

If we won, the first thing we would do is pay off the kids houses, and put them on a yearly allowance, requiring them to come visit us at least twice a year to get the next half of their yearly allowance.  My youngest daughter would be flying all over the world...I could impose a climate tax on her allowance if she does that, cutting it down ten percent since she believes in climate change but causes more climate impact than the wife and I ever did.

I would want a new tractor with a cab and snowblower but that is about all I would buy.  I guess I would have to build another garage, for that tractor, the forty seven cub, and the 77 ford tractor I already have...plus that new tractor.  Need a car lift in there too I suppose to work on my own cars and trucks.. I already have a scissor life with a sixty seven buick sitting on it...dead horse syndrome.

Then I would not need to hire anyone to blow my snow, I like doing stuff on my own while I still can, so I suppose I can hire one of my grandkids to work with me around the house.  At seventy I do need someone to help me, I lost lots of muscle mass already but at least my back is not hurting so much anymore since I don't constantly lift more than I should be lifting

All I would need is a million bucks, a billion seems like it is more hastle than it is worth.  I got so much tools and things now, what would it be life if I came into a lot of money, our five and a half acres would be full of all sorts of new junk, I would have to buy a big warehouse.  Most of what we own has memories behind it, we gave away most of the stuff that does not have personal value already.  Had the three boats and a canoe, gave all those away already, I don't like to be a packrat.

By reading the first three paragraphs, you guys will see I am frugal, I do not like to splurge on things like lotto when the odds are not very good.  I am not into trying to keep up with the jones's, I am not addicted to the high derived from spending money, in fact, I am happier fixing up old stuff than buying new stuff.

I have holes in my socks ^.^

[rickymouse]

I have holes in my socks ^.^

I wear those socks with holes in the heels till I get my toes stuck in them all the time.  Then, I wash them and they make good rags for the garage and for cleaning things in the house, they can be used as mitts to wash things. 

I am not kidding, my wife will verify that.

[FlyersFan]

I have holes in my socks ^.^

My socks are okay.
It's my sneakers that have holes in the big toe area.
Both the left and right.
You spend $50 on a pair of sneakers ... you expect them to last more than four months.
Geeeze.

[ReturnofBroccoli]

I wear those socks with holes in the heels till I get my toes stuck in them all the time.  Then, I wash them and they make good rags for the garage and for cleaning things in the house, they can be used as mitts to wash things. 

I am not kidding, my wife will verify that.

My stepdad uses them in his garage for automotive rags not my socks his own lol

[ReturnofBroccoli]

My socks are okay.
It's my sneakers that have holes in the big toe area.
Both the left and right.
You spend $50 on a pair of sneakers ... you expect them to last more than four months.
Geeeze.

I wear crocs or sandles they've lasted me like years now, i rarely wear shoes anymore but they're much more co.fortable than my old combat boots id trade them for sandles any day. I only wear socks when im not wearing any foot gear so I dont get black feet

[Mantiss2021]

Take the lump sum payout, it is more likely to be a better deal in the long run.

Unless you do not trust yourself with your spending/saving habits.

Taking the installment method pays out the jackpot over approximately 26 years. Given that inflation, year over year, will reduce  the actual value of every dollar you receive, from the standpoint of the prior year's payout, you will be losing money each year.

The lump sum option allows you to decide how to invest your winnings, with a larger intitial capital amount, and thus, the potential for a greater annual (and thus, cumulative) return.

You will also be paying income tax (federal, at least) on every year's payout, which again, cumulatively, could amount to much more than the "one time tax gouge" that would be levied against a lump sum pay out.


Personally, I'd petition to keep my name anonymous (based on the the fact that the rarity of my surname would make publication an undue security risk).

I'd then establish trust funds for those I wish to take care of; up to the lifetime limit set under the IRS "gift tax" rules. The understanding being that they'll get the rest when I die as part of my estate. 

I'd buy a bigger home so I could have a bigger kitchen and a home gym.

The rest of the money would go into a very conservative investment portfolio, maybe something like the Bessemer Fund. 

Unearned income is much more tax-advantaged than earned, or business, income.

[FlyersFan]

I wear crocs or sandles they've lasted me like years now, i rarely wear shoes anymore but they're much more co.fortable than my old combat boots id trade them for sandles any day. I only wear socks when im not wearing any foot gear so I dont get black feet

Just don't wear the socks with sandles.
That's crazy stuff.

[DBCowboy]

I bought a ticket.

If I win, I will pay off all my debts and with the rest? 


Buy a pack of Ramen Noodles.

[ReturnofBroccoli]

Disappear.

Smeagol need shadow