Posted on 10/22/2018 10:32:35 AM PDT by LibWhacker
One in 300 million. The odds aren’t great, but your chances of winning the massive Mega Millions lottery are as good as the next person. The current jackpot is estimated to be more than $1.6 billion. That is 1,600 million for those who are used to seeing smaller prizes. According to the USA Mega lottery website, the lucky winner will take home approximately $687 million after taxes if he or she opts for the cash option -- life-changing wealth by any standard. It's fun just dreaming how would you spend or invest the money if you won. The opportunities would be endless. Well, almost.
You still couldn’t buy an NFL team or an NBA franchise. Those are reserved for the multi-billionaires, not somebody who has a mere $687 million. Nonetheless, you could still afford most of life’s extravagances. Once you have shared the wealth with family members and your favorite charities, you would eventually have to get down to the business of investing your windfall. Don’t worry; there would be plenty advisors knocking at your door with all sorts of ideas. Help is only a 1% fee away, after all. But if you are more of DIY investor (which most likely would change with $687 million to your name), here are a few suggestions to get you started.
(Excerpt) Read more at forbes.com ...
That’s what I’ve wondered too: once the jackpot grows above the cost of buying every combination, why doesn’t some investor with the means do that? Write a check for $304 million and give it to the administrators and say “see you after the draw for my guaranteed win”?
I suppose it’s because of the risk of having then to share it 20 ways with an office pool that also hit it. But if some gambler had done so last time he could have doubled his money.
Or maybe the Mega Millions administrators don’t allow that kind of “play” in the first place.
If you win, the first thing you do is tell NOBODY
Find a damn good lawyer,
and establish a wall between yourself and the world
Find a damn good investment person,
pay them what they are worth
Sell your house, pull up stakes
THEN announce to the world what happened
In the process say clearly that anyone who asks for money will be FOREVER removed from your list of benefactors
ANY ONE who comes to you with investment advice
will be ignored, permanently.
Then disappear for a while, your choice
Help who you choose
Benefit those you choose
Anyone who complains is banned forever.
It seems harsh, but it is to protect those closest to you
Number one, there will be no more FReepathon day twos. Thanks LibWhacker.
I do not play, simply because I might win.
That would be a bad thing.
My privacy would be destroyed.
I would be sued by anyone and everyone.
I would have lots of new “friends” who smell the money.
My children and relatives would become kidnap targets.
I would be bored. Everyone else would still be working.
It is morally corrupt to steal money this way.
Money is NOT my God. I do not even want to be tempted.
I could go on and on...
I’ll be flying first class on Japan Airlines to Tokyo in January, and one of the drinks on their menu is Chivas Regal Royal Salute 21 Years. The thing is, I almost never drink. I think I’ve only tried whiskey once.
Would it just be wasted on me?
Take out 40.4% Federal (highest tax bracket plus insipid obamacare tax) Take out your state income tax (AR=7%)
Final after tax lump sum for ME= ~$550,000,000 in the bank.
Id take $55,000,000.00 off the top and tithe.
Then invest the 495,000,000.00 in one of two ways:
1) 500 mm in double tax exempt GO munis so I never have to pay taxes again.
OR
2) divide it up in 4 100mm blocks.
1) 100mm in tax free AR munis Aa2 school bonds with state aid. 4-5% coupon. I don't care if I pay premium.
2) 100mm in taxable munis prefereds and corporate bonds for higher cashflow. Nothing below 5% coupon.
3) 100mm in Mortgage Backed securities with GNMA/FNMA obligations for monthly asset backed income. Typically 3-handle coupon but usually has a government backing.
4) 95mm in equities in stocks with at least a 3% dividend yield and that George Soros or China cant mess with: JNJ, AAPL, T, VZ, D, SO, DUK, BUD, KO, PEP, UNP, Visa, PG, DWDP, BA, CAT, DE, etc.
So I have a tax free debt income, a taxable debt income, a taxable asset backed income, and a growth income in the market.
It would take a couple of months to buy that many securities and structure them in a laddered portfolio, but I would continue to work for a while and pay off debts with my income generated.
Of course wife and I would be gifting the maximum annual exclusion of $11,000,000.00 to each family member.
The goal would be an average of 4% coupon: 4% on 500mm = $20 million a year tax free income. We can't spend that. We would be gifting ALOT.
First donations would go to Church(es), NRA, GOA, FreeRepublic, etc.
We'd probably retire in 2020 and give 18 mm away every year and live on 2mm tax free income. We just couldn't spend that much money.
Firs: tell nobody except wife.
Second: If i didn’t already live in a state where I could remain anonymous I’d move to one where I could - within a few hours.
Third: retain existing house as a second home to arouse no suspicions amongst neighbors.
Sometime in near future: Splurge on cars - new belts and hoses for my 12 year old car and something made the past 3 years to replace my wife’s older car.
BING
Dude...I could be dead in 10 years............
To heck with Chivas...See if they have Yamazaki on the list.
Oklahoma is one of them..........
That would be me. 1% commission. Half of that for Freepers. ;)
I do fixed income mainly. Series 7 and 66 registered. Gotta meet and discuss goals and suitability though.....and figure out how to tell Regulators what a "Freeper" is.
If I spent $100 million on 5 cent deposit bottles and hauled them to Michigan...
Let’s see - how many trucks would that take? I’d have to avoid farmers and militias.
Hmm, you still only get a tenth if it splits ten ways, and it has cost you twice as much - unless you plan to buy two tickets with the same numbers, in which case you'll get two-elevenths, and the other nine people will get one-eleventh each. I'd rather have a better shot at the whole kaboodle, and for this drawing that's definitely in the Powerball game.
I went to high school with a fellow who actually became a billionaire. He’d be my first call, because he does know what to do with it.
I can’t really think beyond $50,000,000.
But then, I’m just a woman. What do I know?
ROFLOL!!!! Now that made me laugh!!!
Nope. Something called Suntory Hibiki 17 Years Old, though.
What?
THAT’S worth copying and saving!
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