Sephiroth
Wade Wilson
Surviving
Posts: 28,900
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Post by Sephiroth on Nov 3, 2022 13:05:51 GMT -5
When the jackpot is that big you would be a fool to take the lump sum. When was 1.2 bil the cash payout was 596 million, less than half. Then another half or so for taxes. Meanwhile the annuity would be roughly 40 mil a year for 30 years. Plenty of cash and no chance you screw it up and end up broke in a few years. Well it is possible but much more difficult. One reason I would go that route is one of the first things I would do is move out of Louisiana. And this way they would only get a fraction of the tax money than if I took the lump sum. You can count on there being a jackals whi blows it on a Beverly hills mansion not realizing they have to pay taxes on it, or trying to start a wrestling promotion
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Post by King Boo on Nov 3, 2022 13:09:10 GMT -5
Like Futureraven: Beelzebruv, I'd consider ways for that money to make money, because I relate to that worry and would feel loads better knowing I'd have things in place in case something happened. Once I took care of the responsible stuff for both myself and my loved ones and felt comfortable being a little frivolous (which would probably take a bit, if I'm honest) I'd do at least some of the following: - Splurge on a purse - take my mom on her dream trip of visiting the National parks, whichever way she'd want to travel - take my friends on a trip to Universal Studios in Florida so we can go to the Wizarding World of Harry Potter - visit Shy Guy, as well as bring her to me (then kidnap her and never let her leave) - CONCERTS. Otherwise, I'd probably have fun adding to my collections from time to time, and taking some trips to places I'd like to visit.
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Post by Cyno on Nov 3, 2022 13:21:25 GMT -5
With that money, I can finally realize my dreams of owning a solid gold house and a rocketship car.
Serious answer: first thing I do is hire a reputable attorney and financial planner/manager. Because I know I'd be tempted to just be absolutely stupid about the money. Figure out a gameplan to wisely spend, invest, and save that cash.
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Magnus the Magnificent
King Koopa
didn't want one.
I could write a book about what you don't know!
Posts: 12,455
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Post by Magnus the Magnificent on Nov 3, 2022 13:25:30 GMT -5
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Post by Feyrhausen on Nov 3, 2022 14:02:51 GMT -5
When the jackpot is that big you would be a fool to take the lump sum. When was 1.2 bil the cash payout was 596 million, less than half. Then another half or so for taxes. Meanwhile the annuity would be roughly 40 mil a year for 30 years. Plenty of cash and no chance you screw it up and end up broke in a few years. Well it is possible but much more difficult. One reason I would go that route is one of the first things I would do is move out of Louisiana. And this way they would only get a fraction of the tax money than if I took the lump sum. You can count on there being a jackals whi blows it on a Beverly hills mansion not realizing they have to pay taxes on it, or trying to start a wrestling promotion Yeah some people would spend so much on credit then end up having to sell the annuity to get out of the financial hole. End up with a fraction of the 1.5 bil and then blow that. I figure with roughly 40 mil a year, 20 after taxes. First year I would buy a modest house with some property in an area where that would be less than a mil. 2 new vehicles, less than 100k. Then moving expenses, paid for by the sale of our current house. So with some misc expenses we would not be spending more than 2 mil to get set up. Then we could splurge a bit the second year. But keep to a budget .
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Sephiroth
Wade Wilson
Surviving
Posts: 28,900
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Post by Sephiroth on Nov 3, 2022 14:12:32 GMT -5
You can count on there being a jackals whi blows it on a Beverly hills mansion not realizing they have to pay taxes on it, or trying to start a wrestling promotion Yeah some people would spend so much on credit then end up having to sell the annuity to get out of the financial hole. End up with a fraction of the 1.5 bil and then blow that. I figure with roughly 40 mil a year, 20 after taxes. First year I would buy a modest house with some property in an area where that would be less than a mil. 2 new vehicles, less than 100k. Then moving expenses, paid for by the sale of our current house. So with some misc expenses we would not be spending more than 2 mil to get set up. Then we could splurge a bit the second year. But keep to a budget . First thing first: not quitting my job on the spot, waiting till I get at least the first payment, probably close to a year or so. It once I do get it, I’m still not quitting: I’m going in for the day and telling a bunch of coworkers and customers exactly what I’ve been holding back all these years so I get fired and collect my unemployment. And before walking out the door I’m telling them “By the way, in the guy who won the jackpot.”
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Post by SneakMan on Nov 3, 2022 14:20:28 GMT -5
I just wanna have enough money to not have to waste a majority of my life working a bullshit job. I wouldn't change anything about myself otherwise.
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Post by Big BosskMan on Nov 3, 2022 16:21:14 GMT -5
First step, get an attorney and financial adviser skilled in managing windfalls like this and form an LLC if I can't claim the loot anonymously.
Second step, for both my wife and I, retire. She's an educator and will be eligible for full retirement in 5 years. I'd put in my 2 weeks notice at my employer of 28 years. I'm done.
Third step, pay for my daughter's college expenses. She's still in middle school at the moment.
Fourth step, pay for my nieces' college expenses that remain.
Fifth step, probably put in a pool or finish the basement.
After that, it's going to be a mix of travel, investments in Air BnBs around the world, charitable contributions (like DonorsChoose for teachers who need help in their classrooms), and try to make a positive difference in the world somehow.
Also, buy a sizable chunk of land out West and create like a St. Jude's hospital but for dogs.
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Post by Rolent Tex on Nov 3, 2022 16:47:13 GMT -5
Screw that. I’ll fly to Nevada and rent out a whole br… *BANNED*
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Post by häšhtå.gdālėÿ on Nov 3, 2022 17:09:37 GMT -5
After doing everything for my family, I’d 100% buy a property and build a wrestling barn like on the Hardy’s compound.
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Post by Non Banjoble Tokens on Nov 4, 2022 0:53:48 GMT -5
- visit Shy Guy, as well as bring her to me (then kidnap her and never let her leave) Now, just think if I posted that.
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Post by Non Banjoble Tokens on Nov 4, 2022 1:11:38 GMT -5
But really I would do a reboot of Wrestlicious.
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Sam Punk
Hank Scorpio
Own Nothing, Be Happy
Posts: 6,304
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Post by Sam Punk on Nov 4, 2022 1:33:19 GMT -5
Kimmy Granger
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Post by Shy Guy on Nov 4, 2022 6:52:43 GMT -5
- visit Shy Guy, as well as bring her to me (then kidnap her and never let her leave) I would move in with biff and make her buy me more dogs and also a $100m house in the OC
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Post by CeilingFan on Nov 4, 2022 7:13:40 GMT -5
I will offer 100 Million dollars to billy Corgan for the NWA.
After buying it, I will sell it to Tony Khan for 1 Million.
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Dr. T is an alien
Patti Mayonnaise
Knows when to hold them, knows when to fold them
I've been found out!
Posts: 31,355
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Post by Dr. T is an alien on Nov 4, 2022 8:53:05 GMT -5
Yeah some people would spend so much on credit then end up having to sell the annuity to get out of the financial hole. End up with a fraction of the 1.5 bil and then blow that. I figure with roughly 40 mil a year, 20 after taxes. First year I would buy a modest house with some property in an area where that would be less than a mil. 2 new vehicles, less than 100k. Then moving expenses, paid for by the sale of our current house. So with some misc expenses we would not be spending more than 2 mil to get set up. Then we could splurge a bit the second year. But keep to a budget . First thing first: not quitting my job on the spot, waiting till I get at least the first payment, probably close to a year or so. It once I do get it, I’m still not quitting: I’m going in for the day and telling a bunch of coworkers and customers exactly what I’ve been holding back all these years so I get fired and collect my unemployment. And before walking out the door I’m telling them “By the way, in the guy who won the jackpot.” I also would not quit right away, but no one gets to know I won jack or shit. I'll "go work for my brother-in-law" in Arizona (and no, I won't be moving to Arizona).
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Magnus the Magnificent
King Koopa
didn't want one.
I could write a book about what you don't know!
Posts: 12,455
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Post by Magnus the Magnificent on Nov 4, 2022 9:22:22 GMT -5
For realz though, I'd buy the damn pizza oven and treat everyone at FAN a slice.
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Post by xCompackx on Nov 4, 2022 10:32:24 GMT -5
I'd probably just pay off all my debt and, I dunno, buy a new TV?
I'm a simple man.
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Post by chronocross on Nov 4, 2022 17:50:13 GMT -5
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Post by Fade is a CodyCryBaby on Nov 4, 2022 20:26:48 GMT -5
Good lord. So besides everything that was detailed, the big one is to not tell a fricken soul. Even still the “you” become your own enemy thing seems sadly obvious.
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