hmm so what with you do with 1.6 billion
10-22-2018, 03:28 PM
#21
Join Date: Aug 2012
Location: Foothills East of Sacramento
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To me $10M after taxes would be manageable. It would secure my family and grandkids with a solid base to either screw up or make something of themselves. I've passed out lump sums before and I did not always like the results. If they couldn't work with say $250k each (if that) too bad.
The wife at first blush would say lets buy a horse farm and I might say lets buy a house on Lake Michigan with a road course to test out all my new cars but we probably wouldn't move - we've been here since 1983 and never once consider moving to something bigger and fancier. How safe is it? We have neighbors who never close their garage doors and some who don't even lock their house when they are away ("would you watch my animal for a few days, the door is open"). Got'a love a sub and neighbors like that. Sure, I would spend money on the house inside and outside to update it and be really thankful I didn't have to do it myself.
In the end, its all just a mental exercise since I probably have only played the lottery a half-dozen times in 10 years. A foolish waste of money IMHO. Once a year I do buy raffle tickets for a car I'd like and that's it.
10-22-2018, 04:13 PM
#22
I could use a winning lottery ticket. I bought new eyeglasses today. I'm just not ready to try the online purchase for this item. What does it say that my AAA membership allowed a better discount on the pricing vs my health insurance?
None of the less expensive frames that I cared for were the right size for my face. I even tried a couple kid sizes.
I only wear my glasses at work so I wasn't looking to spend a million...but between frames, (moderate priced) progressive lenses, no glare, the price gets up there.
None of the less expensive frames that I cared for were the right size for my face. I even tried a couple kid sizes.
I only wear my glasses at work so I wasn't looking to spend a million...but between frames, (moderate priced) progressive lenses, no glare, the price gets up there.
10-22-2018, 04:53 PM
#24
I could use a winning lottery ticket. I bought new eyeglasses today. I'm just not ready to try the online purchase for this item. What does it say that my AAA membership allowed a better discount on the pricing vs my health insurance?
None of the less expensive frames that I cared for were the right size for my face. I even tried a couple kid sizes. I only wear my glasses at work so I wasn't looking to spend a million...but between frames, (moderate priced) progressive lenses, no glare, the price gets up there.
None of the less expensive frames that I cared for were the right size for my face. I even tried a couple kid sizes.
I only wear my glasses at work so I wasn't looking to spend a million...but between frames, (moderate priced) progressive lenses, no glare, the price gets up there.We have been very happy with the glasses.
goBlue has VSP insurance through his employer, and we can use that eye insurance at CostCo.
I bought two new pair of glasses after having cataract surgery in 2015. One pair was with regular progressive lenses and the other was with transition progressive lenses. So, one pair was using the VSP insurance, and the other pair was without the insurance, but CostCo was having a special of $30 off the second pair of glasses for the same person.
It all turned out very reasonable. Those are the last glasses that I have bought.
Since the cataract surgery, I rarely need to wear glasses at all any more anyway. I do wear them when driving a car, but rarely need glasses for closeup anymore, except for very tiny font. And, I can just use over the counter reading glasses for that, or my old progressives (before the cataract surgery) work for closeup, too, because I guess I can find the right part of the lens to look through.
CostCo doesn't have a real big selection of frames in the right size for my face either, so I did end up getting one pair (the transitions) in a kids size.
Sorry so "off topic."
10-23-2018, 04:33 AM
#25
First thing I would do is get a lawyer THEN I would buy a house with a lot of land and build a HUGE garage and a build a racetrack and then buy my parents and my sister each new cars and a place in Florida for my folks and a place anywhere she wants for my sister.
Going forward I would spend my time searching for my wishlist of cars to build a collection. That would be a Ferrari 308,328.348,355,Daytona,550,330 then on to Porsche 70,s era 930, 89 930,993,964 early 911s and then a 280sl to round things off. That would be good for a start.
Going forward I would spend my time searching for my wishlist of cars to build a collection. That would be a Ferrari 308,328.348,355,Daytona,550,330 then on to Porsche 70,s era 930, 89 930,993,964 early 911s and then a 280sl to round things off. That would be good for a start.
10-23-2018, 04:43 AM
#26
First thing I would do is get a lawyer THEN I would buy a house with a lot of land and build a HUGE garage and a build a racetrack and then buy my parents and my sister each new cars and a place in Florida for my folks and a place anywhere she wants for my sister.
Going forward I would spend my time searching for my wishlist of cars to build a collection. That would be a Ferrari 308,328.348,355,Daytona,550,330 then on to Porsche 70,s era 930, 89 930,993,964 early 911s and then a 280sl to round things off. That would be good for a start.
Going forward I would spend my time searching for my wishlist of cars to build a collection. That would be a Ferrari 308,328.348,355,Daytona,550,330 then on to Porsche 70,s era 930, 89 930,993,964 early 911s and then a 280sl to round things off. That would be good for a start.
Rick says a house further in the country and a big garage, but built to resemble a barn so the contents of said garage would be less obvious. Of course a priority would be to set aside plenty of $ for the grandkids education and their futures, and to pass along a "few" bucks to our son and daughter in law to make their life easy.............but not too easy. I still believe we need a purpose of some kind.New but not fancy cars for family members and maybe even extended family members is a must. I mean, who likes dealing with car repairs?
All these things won't eat up all that much of this windfall. Time to start planning some philanthropy work. And yes, I'd quit my job!
10-23-2018, 06:27 AM
#27
Not really interested in an new cars. Just have no desire to go super fast in a car that depreciates 50% in the 90 seconds after purchase..
I would gather my extended family together (have 2 married siblings with no kids and one child with a spouse - small circle) and announce the winnings, and lay out my Plan:
Those under 18 - a 529 fund, guaranteed to be at 100,000 at HS graduation. Upon graduation, a Roth with a seed of 100,000. If not college, the 529 reverts back to me and the Roth is established.
Over 18 not not quite ready to retire - graduated Roth, from 100,000 to 250,000, based on age, with a guaranteed 250,000 at retirement.
Close or at Retirement - 250,000 cash
Anticipation the Roth and the 529 would appreciate 10-12% per year.
While I'm on the road, I'd park and come back twice a year for family reunions (Ok... maybe birthdays?)
That's on top of all the rallys we have!
I would gather my extended family together (have 2 married siblings with no kids and one child with a spouse - small circle) and announce the winnings, and lay out my Plan:
Those under 18 - a 529 fund, guaranteed to be at 100,000 at HS graduation. Upon graduation, a Roth with a seed of 100,000. If not college, the 529 reverts back to me and the Roth is established.
Over 18 not not quite ready to retire - graduated Roth, from 100,000 to 250,000, based on age, with a guaranteed 250,000 at retirement.
Close or at Retirement - 250,000 cash
Anticipation the Roth and the 529 would appreciate 10-12% per year.
While I'm on the road, I'd park and come back twice a year for family reunions (Ok... maybe birthdays?)
That's on top of all the rallys we have!
10-23-2018, 07:16 AM
#28
The states take a cut of the ticket receipts. 50% goes to administration of the lottery and state programs or charitable causes. Next, the $1.6B will be more like $900M as a lump sum. (This means the various states also received $900M.) Finally, the fed and local taxes on your lump sum will bring your $900M down to $650M or so depending on what your particular state charges. So on the lump sum basis, the governments receive $1.15B to your $650M.
I'll then spend my $650M knowing that a lot more money has already gone to various other parties, causes and projects. Will I do something charitable? Yes, there are a couple of organizations that I would help.. But I think I'd be investing the majority of this money in small start-up businesses, kind of like a Shark Tank thing. There are already plenty of programs and charities for people who don't have anything except problems. I'd like to help people that want to build new businesses.
I'll then spend my $650M knowing that a lot more money has already gone to various other parties, causes and projects. Will I do something charitable? Yes, there are a couple of organizations that I would help.. But I think I'd be investing the majority of this money in small start-up businesses, kind of like a Shark Tank thing. There are already plenty of programs and charities for people who don't have anything except problems. I'd like to help people that want to build new businesses.
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10-23-2018, 04:59 PM
#30
