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re: How much of your Powerball winnings are you giving away?

Posted on 8/23/17 at 12:51 pm to
Posted by Cjscore
Prairieville
Member since Dec 2016
592 posts
Posted on 8/23/17 at 12:51 pm to
Knowing my luck 20 other people would have the winning numbers also.
Posted by udtiger
Over your left shoulder
Member since Nov 2006
99223 posts
Posted on 8/23/17 at 12:53 pm to
Some to my church
Some to my kids schools
Some to my high school
Some to my wife's high school
Some to my colleges
At least $1 million each to my parents and siblings
Posted by TigerCoon
Member since Nov 2005
18898 posts
Posted on 8/23/17 at 12:58 pm to
I don't think it would be much fun to be filthy rich if all your buddies still have to go to work every day.

I think I would select one, and he'd be my professional buddy. I'd pay him 200K a year, and he'd be on call for the buddy activity 8-6 Monday through Friday-- no homo or other labor involved. Weekends off.

If I want to go golfing today, we're going golfing. If I want to go fishing, we're going fishing, etc.

Pretty good work if you can get it.
Posted by Boudreaux35
BR
Member since Sep 2007
21600 posts
Posted on 8/23/17 at 12:59 pm to
quote:

How much of your Powerball winnings are you giving away?


$3.50
Posted by nicholastiger
Member since Jan 2004
43157 posts
Posted on 8/23/17 at 1:02 pm to
$1 for everyone on the rant
Posted by BlueWaffleHouse
LA
Member since Jul 2012
1859 posts
Posted on 8/23/17 at 1:03 pm to
quote:

Some to my church
Some to my kids schools
Some to my high school
Some to my wife's high school
Some to my colleges
At least $1 million each to my parents and siblings



They better rename the bathrooms after you @ least with all that 'giving!'
Posted by SEClint
New Orleans, LA/Portland, OR
Member since Nov 2006
48769 posts
Posted on 8/23/17 at 1:05 pm to
I'm taking Richard Pryor's advice and just buying Peru upfront instead of giving it to a coke dealer.

Eliminate the middle man.
Posted by SundayFunday
Member since Sep 2011
9310 posts
Posted on 8/23/17 at 1:16 pm to
quote:

It's not $450 million AFTER taxes... that is before taxes... you will end up with about $280 Million.




What are you talking about? The Total pot right now is $700 million
Posted by LSUBoo
Knoxville, TN
Member since Mar 2006
101930 posts
Posted on 8/23/17 at 1:18 pm to
quote:

What are you talking about? The Total pot right now is $700 million


SON OF A BITCH.
Posted by Displaced
Member since Dec 2011
32719 posts
Posted on 8/23/17 at 1:19 pm to
quote:

What are you talking about? The Total pot right now is $700 million


That's 700 mil if you take the annuity over 30 years. $450 something before tax if you take the cash option
Posted by SEClint
New Orleans, LA/Portland, OR
Member since Nov 2006
48769 posts
Posted on 8/23/17 at 1:20 pm to
I'd still take the 240
Posted by TeddyPadillac
Member since Dec 2010
25827 posts
Posted on 8/23/17 at 1:24 pm to
quote:

1 in 292,201,338



I know that's the chances of picking the right numbers, but if you assume someone will win tonight, and know that there's about 20 million tickets sold, which is a bit of an overestimate, then i'd say the odds are 1 in 20,000,000 of winning tonite. Hell a lot of times when there's a pot this big, 2 people win it, so you could say theres a reasonable chance your odds of winning tonight is 1 in 10,000,000, and if you by 10 tickets, your odds are 1 in a million.







and fyi, don't come back and critique this, it was merely retarded talk to use that gif.
Posted by Bmath
LA
Member since Aug 2010
18683 posts
Posted on 8/23/17 at 1:24 pm to
quote:

I'm guessing I distribute around $100 million to family.





I've pretty much decided that if I ever won the lottery I would set up college accounts and pay off any student loan debt of various family members. My parents lost their home in Katrina and still own the lot, so I've always wanted to build a nice beach house there. My in-laws are well off, so I'd probably just get them nicer stuff around the holidays.

With regards to charity donations, I wouldn't give massive chunks of money up front. I'd start with smaller donations for specific projects and see how the funds are used. There are several youth programs that I've been involved with over the years that would be great to donate to.
Posted by Amazing Moves
Member since Jan 2014
6049 posts
Posted on 8/23/17 at 1:25 pm to
I would "donate" enough to buy land. So I can cast and erect as many confederate replica statues as possible.
Posted by yellowfin
Coastal Bar
Member since May 2006
97730 posts
Posted on 8/23/17 at 1:28 pm to
$0

Doesn't matter how much money I have, I don't give it away for nothing
Posted by TigerBait2008
Boulder,CO
Member since Jun 2008
32496 posts
Posted on 8/23/17 at 1:28 pm to
quote:

450 million AFTER taxes... that is before taxes... you will end up with about $280 Million.



Dumbass
Posted by Suntiger
BR or somewhere else
Member since Feb 2007
32999 posts
Posted on 8/23/17 at 1:33 pm to
I'd put it in a trust so people wouldn't know I won. I'd put $2M in an account that pays dividend for each immediate family member and $1M outright. $250,000 to each niece & nephew. That's about $13M gone. I'd probably give another $5-8M to charity as a tax write-off. Seems like as good a plan as any.
Posted by GumboDave
Louisiana
Member since Nov 2014
849 posts
Posted on 8/23/17 at 1:36 pm to
This is terrible money management. Your future of investing is sure to be a failure.
Posted by MontyFranklyn
T-Town
Member since Jan 2012
23833 posts
Posted on 8/23/17 at 1:37 pm to
First of all I'm going to keep it hush, hush for as long as possible. Then When I do tell people I won I will only tell them I won 20 million and have already blown most of it

ETA:

I would start a scholarship foundation for my family with $30 million. I would open a debt trust of $30 million that my family can present debts to to be paid off. I would put $50 million in my daughter's trust fund. I would use another $50 to start a real estate company with my best friend. I would spend $2 million on houses(one beach house and a permanent house). After that I would just live off interest. May start a charter school or something
This post was edited on 8/23/17 at 1:50 pm
Posted by Tiger55
Gretna, LA
Member since Aug 2004
1447 posts
Posted on 8/23/17 at 1:59 pm to
Would give 15 million each to my and my wife's parents and our siblings. That's 75 million. About 10-15 million spread to our best friends.

Dump 30-50 million in my own charity that would be my very part time job. I would only distribute the interest. Directly to people in need. things like you read of someone dying in the line of duty, or a normal family and one of the parents gets terminal cancer. I'd help out the surviving family to make sure their kids are helped out. Or see some stranger with a child that has something wrong with them, would help them out directly so ALL of that money goes to those in need.

I'd still have 120-130 million. 10 million in a play account. Invest rest wisely and only live off interest never touching the investment. And pay for anything that I'm doing with piers - dinners, out , trips. If I can't live one hell of a life on that well shame on me.

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