Current Events > if you won the Powerball, do you think you would go broke?

(+) Yeah! (+)

I doubt I would go broke from blowing all that money on crap I don't need as I don't tend to do that now.

xAzNPimP4LiFex posted...

^Id do that too except with a Batmobile

I don't even like DC stuff but the Batmobile is cool and I'd like to have one.

Nah. My first call would be to the most expensive law firm I could find. Next call would be to the most expensive accountant money can buy. Save / invest the money wisely.

I wouldn't tell another soul, not even family members. Once I had all my ducks in a row, I'd move to the countryside of some European country. Somewhere nobody would know me or have any reason to question my wealth. Just live a quiet life where my biggest worry is whether or not to get a dog.

No. To be honestI dont know how so many lottery winners do. I cant think of $50k worth of things I would want to buy right away if I had that much money.i dunno how people blow through literal millions so quickly.

Tyranthraxus posted...

The current jackpot is so high you can deposit everything and live off only the interest. Why would you take an annuity?

Idk, ask the 1/3 of jackpot winners that go broke. There's a lot of issues that come with suddenly winning a lot of money.

I wouldn't but also I'm an accountant and we typically don't end up broke

I guess the counterpoint is that if I'm going to live off the interest anyways, might as well choose the annuity and make it simple.

People who play the lottery frequently (the people most likely to win) are people more likely to make financially irresponsible decisions with the winnings

Hard to say. We are some of the most frugal and least materialistic people we know (we make a lot of money but still own only ONE TV, which is 32" and we've had for 12 years), but I don't actually know how we'd respond to having tons of money all at once.

No.

I would quit my job, but I would do something else. Maybe buy a local gaming retro store or so. Just for fun.

Other than that, I wouldn't change my lifestyle much except buying a cozy new home. I'd buy quality stuff that I need for a living, but they don't have to be overly expensive. For example, I wouldn't buy a luxury car.

Last, I would definitely donate a lot of money for local animal shelters and organizations that help/support orphans, people with a disability and abused people.

No.

First off I wouldn't tell anyone I dont legally have to.

Also while Im by no means rich, I make decent money but dont have expensive taste.