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Mega Millions grows to estimated $640 million

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Yeah, depending on the economic situation people are in, most would likely gush it right away. At least my boredom issues would require me to be cheap (that definition might vary given the money pile) to avoid doing too many zany shenanigans. Given my eccentric and hedonistic personality, staying out of debt would be rather challenging...

I'm sure it's more difficult than you'd think to spend hundreds of millions of dollars right away :P Hundreds of thousands - sure. You can easily spend that on clearing debts, getting a house/car, all the games you want, etc. But half a billion dollars? That's a lot :P

 

Yeah, but most would still be overwhelmed by the massive amount of money they won and would think "It's just a few hundred here. I've got plenty". Even if half a billion is a large sum, it's still rather easy to get overboard when many think they have it in control. It might be worth finding some information about what percent of 100 million+ winners end up in heavy debt after the winnings.

 

Maybe I am just being a bit too cynical about this and would follow in the same path because I think it's a hundred percent inevitable.

Just like.. what would you buy? I'm sure it'd be easy to have problems if you won a few million. You buy a house, you buy a car, you buy fancy clothes, you life a lavish lifestyle.. eventually the money will run out. The house alone could set you back tens of millions if you buy like a huge mansion.

 

But with half a billion.. I mean what would you buy?

 

House: $20m max maybe? That's a niiiiiice mansion.

A few Ferraris: $1m. That's assuming you buy like 5.

A private jet: The jet alone is probably a few million (totally not sure). Fuel costs are averaged at like $10k an hour, so that could rack up.. but even, you'd have to be travelling for thousands of hours just to hit 100 million.

 

So we have all the huge purchases out of the way and we've only gone from 640m -> 609m (estimated the jet at $10m, could be totally off though).

 

I feel like those are the big spenders and all the other spendings would be smaller amounts of cash. You want an epic computer? Great! But I can't even imagine spending >15k for a good computer. Anything other than that and you're not paying for hardware. You're paying for style or a diamond-covered laptop. The most expensive computer is $1 million but only for its looks/style/whatever. It's not fast or powerful. You want a huge game collection? Okay, maybe you could spend a couple hundred grand on that. But you'd probably only even get to that price if you're buying really old/rare games as collectables. An amazing TV/speaker collection could cost you $100k, but I can't imagine it going much more than that..

 

Let's say you had 50 years of your life left when you won the money. After all your big purchases you're down to 600m. In order to spend it all in your lifetime you'd have to spend $12m every year for the rest of your life (50 years). With some effort you could do that. But let's cut that down to 5 years.. You'd have to spend $120 million a year.. just what would you buy? :XD:

 

If you're really going to spend 600m right away, that would be extremely difficult. You'd have to buy bulk amounts of hugely expensive items solely for the purpose of running down your cash. Example: buying 100 Ferraris. Does anyone even WANT 100 Ferraris? 5, maybe. But what would you even do with 100?


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I'd be happy to know I have it and just know that I can buy a whole bunch of shit without having to worry. Probably would give a few mill to people I know and charity, I mean, I've got like 640 million anyway.

this

 

What would I do with it? After it's taxed from the government

You don't get taxed on it


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What would I do with it? After it's taxed from the government

You don't get taxed on it

 

Really? That makes it better. Now, would the winner receive the 640M in increments over the years I take it?

 

Tripsis, what about the maintenance and other tiny things? I know they're small but they do add up over time. Knowing you, there is a high chance you would buy LOTS of skittles and other sweets to where it rivals your other purchases combined. I don't think a house would be too worth it unless it's high-class hotels and just focus on traveling the planet for a few years. For some reason, I suck at being too extravagant. Either I am boring or just don't think on such grandiose scales.

 

Curious, who thought of sparing money aside for charities that you think follow your ideals or mastering your hobbies with an unlimited resource at your disposal?

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What would I do with it? After it's taxed from the government

You don't get taxed on it

 

Really? That makes it better. Now, would the winner receive the 640M in increments over the years I take it?

 

Tripsis, what about the maintenance and other tiny things? I know they're small but they do add up over time. Knowing you, there is a high chance you would buy LOTS of skittles and other sweets to where it rivals your other purchases combined. I don't think a house would be too worth it unless it's high-class hotels and just focus on traveling the planet for a few years. For some reason, I suck at being too extravagant. Either I am boring or just don't think on such grandiose scales.

 

Curious, who thought of sparing money aside for charities that you think follow your ideals or mastering your hobbies with an unlimited resource at your disposal?

Maintenance does add up, but still not comparable to the costs of the big purchase items. Buying a lifetime supply of skittles and dining out every night probably won't match up to a single house purchase. And you could probably purchase 20 mansion-sized houses. :P

 

I'm obviously not an expert but I know several incredibly wealthy families so I like to think that I know the lifestyle a bit. They have the mansions (multiple), the private jets, they own part of NBA teams, they have the private home theatres, etc. But they still don't burn through hundreds of millions in just a few years.


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First of all, I would not invest my money in the stock market or really anything at all. Interest rates are in the shitter and the economy is poor at best. I would open an overseas bank account where most of it would be stored. Now here's a list of things I would spend it on.

 

1) Pay off all my student loans and pay for all of my future grad school.

2) Pay off all my sister's student loans and other debt as well as buy her and her fiance a house for their wedding next summer.

3) Set my Mom and step-dad up with a new truck, the best healthcare coverage money can buy, and a 1967 blue Shelby Mustang (she's always wanted a Mustang).

4) Set up my Grandparents with a one-level house with a huge kitchen (Grandma loves to cook). They're stuck in a old folks community that has duplex one-level apartments because they're not too mobile anymore.

 

After all that was done I'd likely leave the country and never return. :D


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I'd buy out Jagex and make Rs the way I want it.


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What would I do with it? After it's taxed from the government

You don't get taxed on it

 

Really? That makes it better. Now, would the winner receive the 640M in increments over the years I take it?

 

Tripsis, what about the maintenance and other tiny things? I know they're small but they do add up over time. Knowing you, there is a high chance you would buy LOTS of skittles and other sweets to where it rivals your other purchases combined. I don't think a house would be too worth it unless it's high-class hotels and just focus on traveling the planet for a few years. For some reason, I suck at being too extravagant. Either I am boring or just don't think on such grandiose scales.

 

Curious, who thought of sparing money aside for charities that you think follow your ideals or mastering your hobbies with an unlimited resource at your disposal?

Maintenance does add up, but still not comparable to the costs of the big purchase items. Buying a lifetime supply of skittles and dining out every night probably won't match up to a single house purchase. And you could probably purchase 20 mansion-sized houses. :P

 

I'm obviously not an expert but I know several incredibly wealthy families so I like to think that I know the lifestyle a bit. They have the mansions (multiple), the private jets, they own part of NBA teams, they have the private home theatres, etc. But they still don't burn through hundreds of millions in just a few years.

 

Okay. I guess an inevitable doomed state doesn't always happen from getting too into the spending. I don't know why, but the whole "mansion with everything you can do" just seems too much for me to handle and would tune me off. After some thought, I think it'd be more amusing to conjure up various creative uses than the general ones to get your dreams out of the way.

 

For instance, I thought up this one. Since I would have a lot left over as you mentioned before, it would hardly cost me money if I did "social experiments" on people by seeking out those with potential to do great things in their future and offer them "deals" by giving them a few ten grand and make them meet conditions and keep tabs on them to see how it turns out. Your views may vary, but I think it'd be interesting to find unique and bizarre uses, even if they could help or hurt people out of your amusement. To add on, the only other proactive use I could think of was paying friends and teachers who were good to me that I considered amazing people but got the short end of the stick by paying their tuition or helping them advance in their careers, which is the only thing I would do that is legitimately kind aside from charities in groups that match my ideals.

 

Yeah, I think playing Mephistopheles without the cruel twist backstabbing is where I would fully go towards.

 

@ezeei: Is 640M enough to even buy out Jagex? It would seem like a terrible investment for just one game. :unsure:

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Lottery earnings are taxed in the US. Not in Canada, and I guess not in Australia either.


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@Lokie, I've spent the majority of my childhood playing Rs, so no.


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I've been thinking about this and thought of calculating the things you could actually do with all that money. You could buy about 284 Bugatti Veyrons, 64 tonnes of the most expensive caviar, 2327 bottles of the most expensive wine that has ever been sold (it was made in 1907 and found in a shipwreck, so I doubt there were even that many bottles of it). You could buy Hendrix' first guitar to be burned on stage 1286 times. You could buy the Playboy mansion, Bill Gates' home and Oprah's home and still have over half of your money to spare. And, since this is still a Runescape fansite: you could get over 7 and a half million years of RS membership.

 

So yeah, that's a pretty colossal amount of money.[/captainobvious]

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What would I do with it? After it's taxed from the government

You don't get taxed on it

As obfuscator said, lottery is considered unearned money. You can safely assume that half is gone right off the bat.

 

As an Indiana resident, I'd get about 330M lump sum.

 

EDIT: Have fun looking at the numbers yourself.

http://www.usamega.com/mega-millions-jackpot.asp


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Easy. I'd take a couple million off the top for instant gratification, and then invest the rest of it and live on the interest.

 

A modest 1% interest on 640 million is 6.4 million a year, with no effort at all. More than enough to live well, and freeing me and my children (if I have one or two) from the need to ever get a job. Hell, if you keep the birthrate in the family to one per generation, that money would make your life easy street for a very long time, especailly if your wise enough to reinvest a portion of it to keep up with inflation.

 

And I'd probably still get a job, because I want to contribute to the world, even if I don't have to.

 

And I've actually met people in this situation before. A while ago the family came into a large sum of money (like just stupidly large), and they can't spend the interest on it fast enough. I expect their income was in the high tens of millions annually, off the interest on their savings.

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If you take the lump sum it is only $231m after taxes (I believe US lottery tax is 50%) . Still a lot of money, but not quite as impressive.

 

EDIT: It appears I'm way off on that number. Not sure where I was getting it from.

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I'm Canadian, where lottory is considered to be like game show winnings (which are also taxed in the states). Sweet 640 million tax free :thumbsup:

 

Least I think we're still rolling that way.

 

Once its invested into say an RRSP, I'd have to pay tax on it as it comes out. Not up to snuff on that section of our tax code though.

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Pay off my entire extended family's debts

Buy myself a large, yet modest in terms of my giant pile of money, house

Fill said house with plenty of goodies

Stick a boatload in smart investments like government bonds. Half should be good enough to live off interest

Donate the rest to various small-scale charities and local projects. I would honestly like to help a thousand charities than 1 huge donation to one.

And I'd keep a bunch of bills on me to just hand out to people on the street.

 

Oh, and I'd build a new baseball diamond for my town and pimp it out. :thumbsup:

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Well, I didn't win it. No one in SC did. Sorry to be selfish but I hope no one wins it so it can be pretty much 1 Billion dollars next week. I did win $3 though...not the big winner, but not a loser.


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Well, I bought 10 tickets. Didn't win on any of them. Was expected, figured I just donated $5 to the winner. :mrgreen:


99 dungeoneering achieved, thanks to everyone that celebrated with me!

 

♪♪ Don't interrupt me as I struggle to complete this thought
Have some respect for someone more forgetful than yourself ♪♪

♪♪ And I'm not done
And I won't be till my head falls off ♪♪

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I forget to pick up some tickets today. Oh well. Apparently, people spent around $1.5 billion dollars on tickets trying to win the jackpot.


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Pay for college, then invest a good portion of it so that I stay rich forever.


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Lottery earnings are taxed in the US. Not in Canada, and I guess not in Australia either.

That sucks


RIP Michaelangelopolous

u can control my tip it account, but youll never control how fine i am!

This is by FAR my favorite song:

 

I love N_odie and would never edit his posts! I love Rainy_Day too <3 And also Cowman_133. <33 Oh, and Laikrob is a going to hunt me down and kill me like a pest kangaroo if I reveal how awesome she is. I owe tripsis skittles. DarkDude feels like he's missing out. This is my siggy! - n_odie Rainy_Day MINE! - n_odie Rainy_Day And meol shouldn't feel left out. Oh, and Y_Guy is a noob awesome

 

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I'd invest all of it except for like 20M which would sit on my bank account. Then I'd buy a new house, nothing too fancy, maybe something that costs 5M at most.

 

I'd buy a new car, not a Ferrari or anything because the last thing I wanna do is DIE in a bloody accident after I'd won that much money. Something practical and useful. Pay off my loans, which are ridiculously low (like 7k). Then I'd propose my GF and ask if she wanted to quit her job, move in with me and travel around the world.

 

I'd probably pay my parents loans too and buy them a decent house. Maybe. It's not like they helped me a lot when I had financial troubles.

 

After all of this I'm left with still over 14M to use (considering I buy the 5M house). And considering my current job pays me about 20k (euros) in a year, even if the 14M didn't grow any profit in my bank, I'd have 280k to use/year for the next 50 years, so I'm pretty much settled for life.

 

Oh. And retire, at the age of 22 :)

 

and play runescape all day long


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Lottery earnings are taxed in the US. Not in Canada, and I guess not in Australia either.

That sucks

It gets better. Watch the price is right or wheel of fortune sometime, and realize that when someone wins a car, they suddenly owe half the value of that car in income taxes. I think most people end up selling the car, or anything else expensive that they win, to pay for the tax on it.

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Lottery earnings are taxed in the US. Not in Canada, and I guess not in Australia either.

That sucks

It gets better. Watch the price is right or wheel of fortune sometime, and realize that when someone wins a car, they suddenly owe half the value of that car in income taxes. I think most people end up selling the car, or anything else expensive that they win, to pay for the tax on it.

 

Yeah... It is complete bullshit. Those people winning $1,000,000 on gameshows are really only walking away with 400k-600k after it is all said and done.

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Lottery earnings are taxed in the US. Not in Canada, and I guess not in Australia either.

That sucks

It gets better. Watch the price is right or wheel of fortune sometime, and realize that when someone wins a car, they suddenly owe half the value of that car in income taxes. I think most people end up selling the car, or anything else expensive that they win, to pay for the tax on it.

 

Yeah... It is complete bullshit. Those people winning $1,000,000 on gameshows are really only walking away with 400k-600k after it is all said and done.

If you're actually winning money it's fine. 400k is still a lot.

 

But if you win a car, for instance, and can't afford the taxes, that sucks.


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