Poll of the Day > Americans, what would you do if you won the Mega Millions jackpot of $493m?

(+) Yeah! (+)

Topic.

Pay taxes
Keep about $5,000,000
Do nothing but school and work towards the end goal here
Invest the rest
Wait 30-40 years
Become an environmental powerhouse and start reversing all the damage to the global ecosystem

i'd honestly probably buy everyone here a game

then yeah, retire and do fun shit for therest of my life

Retire
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not take lump some. yearly payment is the smart choice.

pay off debt.
buy a decent house with some space between myself and neighbors.
get a nice car.
live off the interest.
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Buy more lottery tickets it is clearly a winning strategy
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Krazy_Kirby posted...

not take lump some. yearly payment is the smart choice.

pay off debt.
buy a decent house with some space between myself and neighbors.
get a nice car.
live off the interest.

Why do you believe the yearly payment is the smart choice? If living off the interest is your plan, you would want the lump sum and that would generate more interest.
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yearly payments = more than lump sum
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Pay for my niece and nephews education, help their parents with whatever, pay my parents medical bills, keep a few million for myself for whatever, invest the rest.
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Krazy_Kirby posted...

yearly payments = more than lump sum

This is true..If you're around long enough to see that. With a jackpot of that amount, I'd take the lump sum as the amount would be more than enough to pretty much live however I wanted.
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Take a lump sum.

- Invest at least 10-20 million.
- Buy a house (nothing fancy, just 3 bedrooms is honestly enough).
- Buy a car (again, nothing fancy. Doesn't have to be over $35,000).
- Help out family members obviously. (Only family I'm currently in contact with. Don't care about distant cousins and whatnot who never reach out)
- Go on a vacation every 6 months or something.

And that's it. All the other money, I'll save up and using sparingly. I know it's easy to say as opposed to actually doing it when all the money falls in your lap. But I truly believe that I don't need to go crazy on anything extravagant. Hell, I would probably be sitting at home playing video games anyway.
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I'd take the payments because I don't trust myself to be disciplined with that much money

Buy house with land. Buy a nice car. Do stuff on said land. Get a huge pond put in with koi. Pass out some money to people I like.
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Never work again.
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Jen0125 posted...

Never work again.

You envy icoyar?

minervo posted...

Jen0125 posted...

Never work again.

You envy icoyar?

I'd still be paying taxes on my residual income and investments.
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Lump sum pays more if you invest your money at all, although taxes does hurt that a bit. There are ways to invest though that avoid taxes until you cash it in.

That being said.

$500 mill in most cases is going to get cut one way or enough in half for taxes (just right away or over a long period).

If you take a lump sum, that cuts it in half again.

So you go from $500 mill to $125 mill or so after taxes.

Thing is, you can hire someone to buy/sell homes, flip them etc, and make you a steady income with that money, no work for you at all, but you'll still net at LEAST 10% interest a year (probably even after taxes.

Which means you would double your initial investement (and have as much as if you took the payments option) within 8 years or so. You can continue to do that, and by the time you actually get to the end of the payment setup...you would have well over 2x a much total money as you would have obtained from the payments all together (of which you would have spent much of).

Real estate is hard work if you don't have much money and are trying to milk it for as much as possible initially etc, but...if your just the backer, it can be pretty easy pure profit. Way better then investing in the stock market etc.
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Obviously pay off any debts
Buy up a good chunk of land on the outskirts of one of the cities in this state here for me to build a modest home and live on
Set up a trust fund of a million dollars per kid for each of my nieces and nephews, have strict stipulations with the rest of my immediate family members that they'll be getting a million a piece and that's it
Put enough in the bank to live on the interest without having to touch the principal
Quit my job and begin working on other investments with my money, mostly in property
Maybe start some sort of charitable organization with animals or something of that nature
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i would build the worlds largest personal masturbation chamber.
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Buy outta debt. Quit shitty grocery job. Find something part time I actually enjoy to keep me busy while I figure out how to be rich.
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Buy a camaro, buy a house (a decent size, nothing crazy) and pay off people close to me's debt
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i always feel like i'd keep several million for myself then give the rest away to people in need(not just family) somehow.

Jen0125 posted...

Never work again.

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Krazy_Kirby posted...

yearly payments = more than lump sum

That depends entirely on interest rates and inflation.
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kangolcone posted...

Krazy_Kirby posted...

yearly payments = more than lump sum

That depends entirely on interest rates and inflation.

And how long you live.
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buy 493 million 1 dollar things

Small house. Enough for a lifetime supply of marijuana. Something to keep me entertained. Spend the rest of my time feeding hungry people.

If I won mega millions I'd be rich anyway and going shopping and road trips.

I'd also stop browsing the messageboards a
Here anyway also

Pay my fucking taxes, buy a moderate-sized island somewhere and build a green-friendly settlement, invest the rest, and build a dynasty that lasts a thousand years.

I honestly can't imagine going without working, but I'd likely work fewer hours (and more selectively) in addition to taking up creative endeavors.

Krazy_Kirby posted...

not take lump some. yearly payment is the smart choice.

pay off debt.
buy a decent house with some space between myself and neighbors.
get a nice car.
live off the interest.

Lump sum can make more money if you actually invest it.

Krazy_Kirby posted...

yearly payments = more than lump sum

However, you can make more money in the long run by taking the lump sum -- assuming that you're not just squandering it or taking terrible advice.
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Not a goddamn thing, ever again.

Take care of my family first off. My parents are old and in the process of passing on, so i would make them as comfortable as humanly possible until the end.
Then I would make sure the younger generation in my family has a safety net. Not enough money that they can just fuck off and do nothing while i pay the bills, but it's there if something happens.
Then I would set up an investment plan and drop about 50-100 mil, depending on how much is left over after taxes and debts and such. Then I would spend the rest of my life doing the things i enjoy in a comfortable home, that I never ever have to leave. Because seriously, fuck humanity in general.

Besides freak out to everybody for the next couple of days? Put a lot of it away for daughter dearest for college, or a house or whatever. Use some of it to publish my second book. Save the rest for a rainy day.
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Hmm. I would want to be a drummer! That's something I've liked for a long time but I don't really have the energy/space to even assemble a homemade kit Sometimes I wonder if I would be able to do it. I did quit my other instrument in high school.
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Make some movies that *I* want to watch.
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Give my mother, father, sister and 6 of my friends $1mil each.
Buy a bit of a nicer house...nothin crazy.
Pay off my car.
Enjoy doing nothing for the rest of my life.
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Pay off shit, help friends pay off shit.
buy a forklift, a golf cart, and scooter
Save the rest for future family
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Travel the world.
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Kungfu Kenobi posted...

Make some movies that *I* want to watch.

So.... porno?
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Lump sum can make more money if you actually invest it.

If you invest it well and have enough self control to leave it there, resisting the urge to splurge and live large. Most people would have a hard time doing that and would be better off taking the annuity.
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Zeus posted...

Kungfu Kenobi posted...

Make some movies that *I* want to watch.

So.... porno?

Define porno.
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I changed my mind. I'll buy 2 forklifts and trick them out
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1. Get my Start-Up Business Up and Running
2. Break Off The Fam (the ones who I'm on speaking terms with)
3. Break Off My Son his Mother and my GodDaughter
4. Buy a Home/Condo/Loft
5. Save/Invest The Rest
6. Take Like a Month Vacay
7. Do Some Serious Makeup ****ing

Sounds Like A Plan!

buy evil hq.
Guard dogs with those spiky collars.
Personal endangered species collection
Unregistered weapons
Pay bums in hamburgers to fight each other.

Donate 10 bucks to some charity to balance morality.

pionear posted...

1. Get my Start-Up Business Up and Running
2. Break Off The Fam (the ones who I'm on speaking terms with)
3. Break Off My Son his Mother and my GodDaughter
4. Buy a Home/Condo/Loft
5. Save/Invest The Rest
6. Take Like a Month Vacay
7. Do Some Serious Makeup ****ing

Sounds Like A Plan!

Lmao if you won the lottery you'd abandon your son? That's really charming.
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Pay off bills.
Buy a house and better car.
Move to a different area of the country.
Give a few million to my parents (and some money to a few friends that could use it)
Donate some money because why not.
Invest half.

Then live life.
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Jackpots at 510m? .. need to get a ticket.

What I'd do -

Pay off house then sell it, move to a bigger one, make sure family's good, new car for the Mrs, donate to this hospital that helped us out.. dont know about travelling, she's not keen on flying, but definitely New York..

.. then slowly dip into a purposeless depression
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Jen0125 posted...

Lmao if you won the lottery you'd abandon your son? That's really charming.

No, we (him and his Mom) are a bit estranged atm (mainly due to financial stuff among other things) but I'm pretty sure a nice 6-7 figure check could make up things btw us, somewhat.

Plus it will give him the funds for him to go out and follow whatever dreams he has.

EDIT: I think you didn't know what I meant by 'Break Off', xD:

https://www.quora.com/What-does-break-you-off-mean

In this sense, since I'm winning a huge amount of money, it means to 'Break them Off' a piece/portion of that Money and give it to them!

Sry if my Urban Ebonics confused you, ;-P

JixHedgehog posted...

dont know about travelling, she's not keen on flying

With that money you can buy an RV and drive anywhere and everywhere at any time for as long as you want without a second thought.
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DirtBasedSoap posted...

i would build the worlds largest personal masturbation chamber.

And I missed this one...but how big do you really need this to be? esp if it's 'personal'

Hire a team and make indie games, cartoons, and comics the rest of my life.
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