The wife and I usually spend the evening discussing how we will spend that much money in as short a time as possible.
I always start the discussion with "Ford GT500"
I will be joining you in that.
Every lottery winner has one thing in common with every lottery loser.
They all bought a ticket.
My neighbor asked me what I would do if I won that half a billion dollars. I started thinking about the stories I had heard of other winners and the problems they had hanging on to their money, so I told him the first two (2) things I would buy.
1) A money manager
2) A politician
Putting a lie to the saying “Somebody’s gotta win!”
I never play the lottery but did buy one $2 ticket yesterday. I got one number...the powerball & won $4. I may put $2 of my “winnings” towards a ticket Saturday.
The wife and I usually spend the evening discussing how we will spend that much money in as short a time as possible.
I always start the discussion with "Ford GT500"
Of course if you elect to take the cash payout it’s probably about 400 million, and after the IRS takes their cut half of that. Not even enough left to run for president.
...but if Guido down the block tried a no pay numbers game the MAN would have him cuffed and stuffed in no time.
People are stupid and the government relies on it.
I'll buy 1 tonight. I know the local store near my office (visited by Obama folks and homeless) will be there buying 10 or 20 tickets.
Jeff Bezos could buy all the tickets and win it. ;-)
I recall a group of ‘weekly work pool’ winners in Ohio who won a smaller jackpot in the 1990s.
They retained an attorney who told the lottery commission that despite any fine print on the the winning ticket, it was a negotiable instrument and that they would not participate in the usual dumb round of big-check publicity pantomime and, more importantly, wanted to keep their identities secret to avoid the inevitable flood of scams and chancers. I believe they were successful in their quest.
When you consider the potential for being targeted in the internet age, it seems well worth the effort to protect one’s privacy.
I posted something similar to this on another thread. Buying a lottery ticket infinitely improves your odds of winning versus someone who did not buy a ticket.
And as an aside I get tired of being called stupid by people who don’t understand that.
Could top $1 billion by Saturday night.
I would buy lots of things that go bang. Of course, buying a Powerball ticket in Alabama is just a wee bit difficult.
Sorry, but for the sake of us all, I just can't do it.
Form non-public, LLC as a disregarded entity for tax purposes
Use state that does not tax lottery winnings
Transfer ticket to LLC at cost - $2
Hire attorney to redeem ticket on behalf of LLC to avoid publicity
Pay all taxes to Feds
Form Cook Islands Trust
Transfer LLC to Trust
Hire yourself as manager of LLC
Pay yourself as manager
If you choose to live offshore, take advantage of Foreign Earned a income Exclusion.
Establish 10 year non-habitual tax residency in Portugal
Do all with legal and tax advice
We can dream...