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TDsngumbo
USA Fan
Member since Oct 2011
18003 posts

Mega Millions Louisiana after-tax jackpot: $118,641,000
I know that's pocket change for many of you but I decided to buy a ticket for the small chance of winning the whole thing.

Let's say I do the following after winning:

- $3,000,000 custom home build in the middle of 100 acres so no neighbors
- $5,000,000 to my parents
- $5,000,000 to Mrs. Gumbo's parents
- Pay off each sibling's and in-laws' homes as well as give them $2,000,000 each, equaling $8,675,000
- I'd also take the entire family on worldwide vacations every year but for now I'll leave that figure out.

That leaves me with a paltry $96,966,000 remaining.

Assume I invest the remaining amount and live off the earnings. On a measly 6% annual rate of return (which would be quite possible) for 75 years, I'd receive the following monthly income:

$484,830

Almost a half-million dollars each month free to spend however I want. I really do not know what one would possibly do with that type of money. I know I'd start charities and such, but with a half-million dollars coming in each month without touching principal, there's simply too much money for the mind to comprehend.

Even if all the money is spent in a month, you get all of it back the next month. Other than hookers and blow, what are you doing with a half-million dollars every single month?
This post was edited on 5/7 at 1:05 pm


heypaul
Penn Fan
The O-T Lounge
Member since May 2008
35867 posts

re: Mega Millions Louisiana after-tax jackpot: $118,641,000
I see you've thought this through.


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431
TechDawg2007
New Orleans Saints Fan
Bawville
Member since Nov 2007
31089 posts

re: Mega Millions Louisiana after-tax jackpot: $118,641,000
quote:

monthly income:

$491,041.24


quote:

That leaves me with a paltry $96,966,000 remaining.


My family would be set up for GENERATIONS


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230
GeauxLSUGeaux
LSU Fan
1 room down from Erin Andrews
Member since May 2004
16640 posts
 Online 

re: Mega Millions Louisiana after-tax jackpot: $118,641,000
quote:

Other than hookers and blow, what are you doing with a half-million dollars every single month?


Image: https://steemitimages.com/DQmcbCW1mrQTm2HBvrKHjiuRAk55ppyL65WzFwfuAKtRJAY/Gif0_two_chicks.gif
This post was edited on 5/7 at 1:07 pm


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510
Cosmo
Houston Astros Fan
glassman's guest house
Member since Oct 2003
94362 posts

re: Mega Millions Louisiana after-tax jackpot: $118,641,000
tldr

2 chicks same time


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100
TH03
Iowa State Fan
Dallas
Member since Dec 2008
156062 posts
 Online 

re: Mega Millions Louisiana after-tax jackpot: $118,641,000
quote:

$5,000,000 to my parents
- $5,000,000 to Mrs. Gumbo's parents
- Pay off each sibling's and in-laws' homes as well as give them $2,000,000 each, equaling $8,675,000
- I'd also take the entire family on worldwide vacations every year but for now I'll leave that figure out.


frick all that. They didn't win.


Ash Williams
LSU Fan
South of i-10
Member since May 2009
15200 posts
 Online 

re: Mega Millions Louisiana after-tax jackpot: $118,641,000
quote:

what are you doing with a half-million dollars every single month?


I’d probably go down to grand isle a couple times a year

That’d be fun.


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240
JDPndahizzy
LSU Fan
JDP
Member since Nov 2013
279 posts

re: Mega Millions Louisiana after-tax jackpot: $118,641,000
I think we've all thought about this at one time or another.. Got my ticket this morning!


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70
TDsngumbo
USA Fan
Member since Oct 2011
18003 posts

re: Mega Millions Louisiana after-tax jackpot: $118,641,000
quote:

quote:
$5,000,000 to my parents
- $5,000,000 to Mrs. Gumbo's parents
- Pay off each sibling's and in-laws' homes as well as give them $2,000,000 each, equaling $8,675,000
- I'd also take the entire family on worldwide vacations every year but for now I'll leave that figure out.


frick all that. They didn't win.

Come on man. That's why nobody likes you

I'll throw in a few grand a month to you just to try and buy you some happiness.
This post was edited on 5/7 at 1:07 pm


Rouge
USA Fan
Public Enemy #1
Member since Oct 2004
126642 posts

re: Mega Millions Louisiana after-tax jackpot: $118,641,000
quote:

what are you doing with a half-million dollars every single month?


building my slum lord empire


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60
TH03
Iowa State Fan
Dallas
Member since Dec 2008
156062 posts
 Online 

re: Mega Millions Louisiana after-tax jackpot: $118,641,000
quote:

Come on man. That's why nobody likes you



Well that's mean.

quote:

I'll throw in a few grand a month to you just to try and buy you some happiness.


I'm perfectly happy.


TDsngumbo
USA Fan
Member since Oct 2011
18003 posts

re: Mega Millions Louisiana after-tax jackpot: $118,641,000
quote:

I'm perfectly happy.

Fine. I'll give that $5,000 a month to another poster.


southernelite
McNeese State Fan
Dallas
Member since Sep 2009
50703 posts
 Online 

re: Mega Millions Louisiana after-tax jackpot: $118,641,000
quote:

I really do not know what one would possibly do with that type of money.


You’d be surprised.

Most with that kind of money are chartering or owning private planes, several vacation properties, possibly a ranch, fees to manage it, etc. Add in some charitable giving and you can burn cash pretty quickly.


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30
Sus-Scrofa
Arkansas Fan
Member since Feb 2013
2300 posts

re: Mega Millions Louisiana after-tax jackpot: $118,641,000
100 acres?

Don’t go too crazy.


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21
Jones
New Orleans Saints Fan
Member since Oct 2005
79579 posts
 Online 

re: Mega Millions Louisiana after-tax jackpot: $118,641,000
quote:

- $5,000,000 to my parents
- $5,000,000 to Mrs. Gumbo's parents
- Pay off each sibling's and in-laws' homes as well as give them $2,000,000 each, equaling $8,675,000


screw paying more taxes


WoWyHi
LSU Fan
Member since Jul 2009
22578 posts

re: Mega Millions Louisiana after-tax jackpot: $118,641,000
quote:

I'll throw in a few grand a month to you just to try and buy you some happiness.


Since TH's wife left him, happiness is but a dream at the moment.


TH03
Iowa State Fan
Dallas
Member since Dec 2008
156062 posts
 Online 

re: Mega Millions Louisiana after-tax jackpot: $118,641,000
Oh don't go stealing that old man's lame schtick.


WoWyHi
LSU Fan
Member since Jul 2009
22578 posts

re: Mega Millions Louisiana after-tax jackpot: $118,641,000


I couldn't remember who was posting that. LCA?
This post was edited on 5/7 at 1:12 pm


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00
TDsngumbo
USA Fan
Member since Oct 2011
18003 posts

re: Mega Millions Louisiana after-tax jackpot: $118,641,000
quote:

quote:
- $5,000,000 to my parents
- $5,000,000 to Mrs. Gumbo's parents
- Pay off each sibling's and in-laws' homes as well as give them $2,000,000 each, equaling $8,675,000


screw paying more taxes

Maybe I buy a pen from them for those amounts.


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20
kywildcatfanone
Kentucky Fan
Wildcat Country!
Member since Oct 2012
62670 posts

re: Mega Millions Louisiana after-tax jackpot: $118,641,000
That's what a lot of money does for you. It's why people like to accumulate money.


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