You just won 338 million dollars...now what?

[xeffects]

First of all, sorry for all my recent threads and not giving others an opportunity to post. I have become aware of this and will slow down just so everyone knows. Anyways on my thread...

You just played the lotto last night and today you've hit the big jackpot; you just won 338 million dollars, this amount is after taxes and other things. The lotto tells you they will pay you all of the money in increments for the next 50 years of your life, what does that mean? 6 million a year * $500,000 a month * $125,000 a week.

So each week the lotto deposits $125k from your newly acquired pension. Now you are setup for life...

1. would you quit your job?
2. would you change your appearance?
3. would you get a fancy car?
4. would you start a business?
5. would you have your own private jet?

What would you do? How would you manage your life?

Suggestions are welcome. I don't think the lotto will pay anyone $125k a week for 50 years, its too much money in a single week. A reasonably pay period would be monthly based, perhaps maybe $15,000 a month ..... trust me, thats enough for to make a living on for an entire month, pay your car, your house, your bills, everything, assuming you don't turn into a shop-a-holic. If this was the case tho, it would take the lotto over 100+ years to pay you off that amount, clearly you would be dead and not be able to collect the full amount.

Some questions I would like to know, if a person did really win that much. Is it possible for them to receive the full funds deposited into a bank? Would there be some kind of security for the individual with that much money.....I would assume the bank may try to charge a maintenance fee of at least 5k a month.

 

[Rhinosaur]

What would you do? How would you manage your life?

Spend it all on Tequila and hookers and pay someone else to manage it!

 

[scarletsnow]

I would buy a small castle and hire ten 18 year old girls to serve as my maids: one with black hair who is quite shy, one with red hair who is rather ditzy, one with white hair who is really smart, one with blue hair who likes watermelons, one with green hair who ...

 

[EzikialRage]

1. would you quit your job?
2. would you change your appearance?
3. would you get a fancy car?
4. would you start a business?
5. would you have your own private jet?

What would you do? How would you manage your life?

.

1.Yes I would quit my job.
2.Maybe, but if I am a multi millionaire I probably wouldn't care about my appearance.
3.I would probably buy a restored classic car.
4.Yes I would start a business or maybe invest my money.
5.Maybe maybe not.

I would pay off all my debts.Buy a decent home, nothing fancy after all there is property taxes to worry about), just big enough for a family and maybe a guest. Anonymously donate money to various charities. Donate political causes I believe in. Buy my family and friends their homes, if they own homes fix them up and pay off their mortgage/home loan or buy them a better home and even set up a bank account so their bills and groceries can be paid with the interest earned. Send some of my family members and friends to college. Visit every country I would want to visit,visit every state I would want to visit, buy every anime and idol video that I have ever downloaded to support the anime and idol industry.Invest in some precious metals like gold, platinum, silver so I can have some solid assets(precious metals usually goes up in value while paper currency goes down). Set up a charity to help families down on their luck.

Some questions I would like to know, if a person did really win that much. Is it possible for them to receive the full funds deposited into a bank? Would there be some kind of security for the individual with that much money.....I would assume the bank may try to charge a maintenance fee of at least 5k a month

I am not sure it is possible to receive full funds deposited. Usually if you take a lump sum they deduct a significant portion of it.

 

[Blackmarrow]

Phase 1: I would purchase an island and then build a small mansion on the island.
Phase 2: Hire my own personal staff of supermodel maids who would be forced to wear highly revealing outfits (trousers would be band):nosebleed: only miniskirts.
phase 3: use funds to scour the earth for the top martial artisits around the world to fight in a no bars hold tournament on my island.
Phase 4: Use remaining funds to create a machine to siphon the skills and strength from winner so i can become the ultimate warrior.:evillaugh:

 

[Aqua2213]

First of all, sorry for all my recent threads and not giving others an opportunity to post. I have become aware of this and will slow down just so everyone knows.

Saw this pic the other day and thought of what you said here.....

:snicker:

I would keep 3 mill and donate the rest to various homeless programs.
Having that much money would just be a stressful pain.
I live simply to simply live.
I was homeless once for 7 months....

 

[scarletsnow]

Phase 1: ...
Phase 2: ...
phase 3: ...
Phase 5: ...

What is phase four?

 

[Gaiarth]

What is phase four?

Profit!

 

[aznvietguy411]

Invest, buy a house, buy cars I've been wanting, buy a house for my parents, buy new computers, and skip school and work for about 2 years to enjoy the 338 million dollars lol.

 

[xeffects]

You guys have some fantastic fantasies you dream off if you had a large sum of money. This sounds like advertising but its not. Have you tried playing the lotto? The crazy luck and anyone can be a lucky f*ck. lol

 

[Mushibito]

First: increase the 338 million with smart investments.

Second: use the newly acquired funds to build secret moon base.

Three: then create robot army and develop death ray on moon base.

Finally: conquer world with robot army and death ray to stop all world conflict and rule with a iron fist and still have a 1.33 cent left over AHAHAHAHAHAH!!!:evillaugh:

 

[Blackmarrow]

conquer world with robot army and death ray

:surprised2:Genius why didn't i think of that? All my plans where too small scale

 

[DarkStorm11]

You guys have some fantastic fantasies you dream off if you had a large sum of money. This sounds like advertising but its not. Have you tried playing the lotto? The crazy luck and anyone can be a lucky f*ck. lol

Is the lotto only available to those of a certain nationality? Or can anyone in the world win it? I mean, for example, are those who are not America or Europe nationalities able to win it and legally collect the winnings?

 

[lowleg26]

I would keep 3 mill and donate the rest to various homeless programs.

Now I feel bad for wanting that solid gold toilet! :sick:

Actually, I'd probably donate a sizable chunk as well. That much money would indeed become a hassle. Especially with all the "friends" you forgot you had coming out of the woodwork to "just, y'know, hang out, man. At the Mercedes dealership. Just one car, man. Then a weekend in Dubai and I'll totally look for a job! I should totally be your accountant!" No thanks! :dizzy:

The lion's share goes to the less fortunate, then I use whatever is left to get a home far, far away. Maybe take some of longtime friends with me, don't want to get lonely or anything! :goodboy:

 

[xeffects]

Here is some data I found

United States

In the United States, prizes in lotteries are taxable. Jackpot winners have the option to claim their prizes in lump sum or in an annuity. When a winner collects in lump sum, the winner receives the cash value of the advertised annuitized jackpot; the remainder of the prize represents the interest that would have been paid out had the winner chosen the annuity. In that case, the winner receives yearly payments, generally 20, 25, or 30. Jackpot winners almost always choose the lump sum, especially if the choice can be made after winning; initially, when cash options were implemented, the choice had to be made when playing, which is still the case in Texas.
[edit]Largest jackpots
Mega Millions is a lottery played in 12 U.S jurisdictions. Since it began as The Big Game in 1996 (it adopted its current name in 2002), it is known for its large jackpot prizes and long odds. On March 6, 2007, a Mega Millions jackpot worth $390 million was split by two tickets, one each from Georgia and New Jersey. To date, this is the largest recorded payout (of an annuity-based prize) in the world.
The largest Powerball jackpot was taken by eight co-workers from a Nebraska meat processing plant who jointly bought a single ticket that won them $365 million (annuity value) in the drawing held February 18, 2006.
[edit]Large lump sum payments
Andrew J. Whittaker Jr. of West Virginia, won $314.9 million in the Powerball drawing of December 25, 2002. Opting as most large prize winners in the U.S. do for the lump sum, his after-tax prize was $114 million.
Geraldine Williams from Lowell, Mass. is the largest single Mega Millions winner, at $294 million. The $168 million lump sum she opted for was reported as $117.6 million after taxes.
Harold and Helen Lerner of New Jersey also claimed a higher after-tax lump sum than Whittaker in Mega Millions for the September 16, 2005 drawing, as New Jersey then had no state tax on lottery prizes. They chose to receive $156 million in cash instead of the $258 million face value. Then there is a 25 percent federal withholding tax[citation needed], which left them with around $117 million.
The October 19, 2005 Powerball drawing won by nine members of the West and Chaney families of Medford, Oregon was for a larger annuity ($340 million) but a smaller lump sum than Whittaker's.
On February 22, 2008, Robert and Tayne Harris of Portal, Georgia claimed the only Mega Millions jackpot ticket, with an annuity value of $270 million (cash value $167 million) before taxes. After 25% percent federal withholding and 6% state withholding, they were left with around $115 million.
[edit]State lotteries
The record annuity-value prizes in the largest state lottery games in the United States have been:
California: $193 million to three players February 16, 2002[1]
to single winner, $141 million to Alex Matulas on June 23, 2001[2]
New York: $130 million in special Millennium Millions game November 4, 2000, shared by two winners
$100 million to Johnnie Ely in Millennium Millions of December 31, 1999
Pennsylvania: $115.6 million shared among 14 winning tickets in April 1989, in Super 7 game later discontinued after a scandal; in subsequent Super 6 game $86,192,222.20 in December 1999, claimed by Shemonski family in March 2000
Florida: $106.5 million to six tickets in September 1990
Texas: estimated $145 million June 19, 2004
Ohio: $75 million April 13, 2002.
The ratio between lump sum and annuity value varies over time with interest rates and possible alterations in the length of the period for which payments are made.
[edit]Europe

Unlike in the United States, where lottery wins are taxed, and the full winnings are paid by an annuity over a period of many years or a reduced lump-sum amount is offered, European jackpots are generally tax-free (the lotteries themselves are taxed in other ways) and the winning jackpot is paid out immediately in one lump sum.
SuperEnalotto is Italy's largest lottery. On August 22, 2009, the jackpot was finally won. Since January 31, 2009, nobody had won the jackpot. The total prize money was € 147,807,299.08 for a player of Bagnone (Toscana). This is Europe’s biggest jackpot for a single winner.
EuroMillions is a pan-European lottery, with odds of 1 in 76,275,360 and a minimum jackpot of €15 million ($21 million U.S. dollars).
[edit]Large lump sum payments
In July 2005, housewife Dolores McNamara, a resident of Limerick, Ireland, won a tax-free lump sum of €115,436,126 when she hit a nine-week rollover jackpot.
On February 3, 2006, EuroMillions had a prize of €183 million, which was shared between three winning tickets, two in France and one in Portugal, each winning €61,191,026.
In May 2009, a 25-year-old woman from Mallorca, Spain won a EuroMillions jackpot of €126,231,764. The jackpot had accumulated after rolling over for 7 consecutive draws. It is rumoured that she was suffering from flu and was getting ready to go back into work before she found out about her winnings. She quit from her job within minutes of finding out. [1]
German National Lottery biggest lottery winning of €37,600,000 was taken on 7 October 2006.
Largest UK prize was hit on 6 January 1996 and totaled at £42,000,000.
The Irish National Lottery has a guaranteed jackpot of €2 million for each of its twice-weekly Lotto draws.
The second largest ever jackpot of €18,963,441 was won on June 28, 2008 by a syndicate of sixteen work colleagues at a quarry and concrete plant in County Carlow.
The EuroMillions jackpot of £91,141,671.00 was split into two prizes of £45,570,835.50 on November 6, 2009, one prize was won by a syndicate of seven work colleagues at an IT company in Liverpool, the other by a couple from South Wales.

That one that surprised me the most was --> Andrew J. Whittaker Jr. of West Virginia, won $314.9 million in the Powerball drawing of December 25, 2002. Opting as most large prize winners in the U.S. do for the lump sum, his after-tax prize was $114 million. <---- He lost $200 million!!! OUCH....! still 114 million is a sh*t load of money, I could see why most people don't care.....even 1 million is enough money to quit your job and live the rest of of your life in peace.......over 1 million and your just a lucky bastard.

Its funny how in the United States, it is "taxable", free money for the government, when anyone wins the lottery, the government also wins, yay for them hooray, now they can spend it building a new weapon that will decide the fate of humanity. I bet that even after paying all those millions, you still have to pay your property taxes as if the millions weren't enough to begin with, one mean, greedy government we have in the US.