re: Mega Millions now at 1.55 billion

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If I were to win that much money I would take the annuity and hope the lottery doesn’t go bankrupt.

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If I hit I’m taking lump sum then just see how fast my wife can make me go bankrupt

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Just think, the government will probably get 800 million off that money

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WTF do I care? I can have a hell of a time with a few hundred mil.

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WTF do I care?

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You should care. The list is long why. You will leave the remains of those winnings to your loved ones once your old crusty arse is taking a dirt nap and they will be basically fricked out of it. Along with any good you ever did with it


I am with you somewhat. If I had the remains, I would just tell everybody to frick off and live out my days. But there are ramifications of the government taxing the hell out of everything

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Then they will take half of what is left as another frick you.

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Then they kick you in the balls when they print a few billion dollars and send it to the Ukrainian devaluing it even more.

Don’t get me started on their BS digital currency they are about to bring out so they can steal it all back.

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- I’d quit my job. The next day. - Pay off every penny of my debt and my immediate families debt. - Renovate my house to get everything exactly like I want it, and I’d do most of it myself because I wouldn’t be working and could do it. - Put in a pool, deck, and outdoor kitchen. Make my backyard the place to be. - Buy a boat. See how many days I can go before I get tired of fishing. - Buy property for deer hunting that I could manage. Not a lease, I want to own it. I’d still duck hunt, but I’m paying a guide service. I like hunting but that’s a ton of work that I’d rather someone else do. - Take my kids on a huge vacation that doesn’t involve a cartoon mouse. - Take my wife to that place in Fiji or Maldives that has the bungalows over the water that’s in all the movies.

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Nice. What are you gonna do with the remaining 1.54 billion dollars?

Poll:

Do you want it all over 30yrs or lump sum?

Do you hire a lawyer, financial planner,etc?

Do you pay to keep your identity a secret ? I think in Louisiana they publish your info.

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Do you want it all over 30yrs or lump sum?

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Conventional wisdom is to take the lump sum, but when it gets to astronomical amounts the annuity is the better deal, for several reasons.

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Do you hire a lawyer, financial planner,etc?

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Absolutely. It would be foolish not to. I have a business degree, but I would be in over my head trying to manage that kind of wealth, and it would be a full time job. I'd rather be a man of leisure.

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Do you pay to keep your identity a secret ? I think in Louisiana they publish your info.

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The last big winner in Louisiana a couple of years ago managed to stay anonymous. I don't know the particulars but it involved setting up a trust and having his lawyer collect the winnings for the trust. The lawyer's name was the only one made public. Assuming they haven't closed this loophole, that's what I would do. Failing that, I would look into selling the ticket to a hedge fund. I'd negotiate for the best deal, hopefully no more than 10%. I still get more money than I can ever spend and the hedge fund gets a quick $150 million for essentially no work and no risk. Their payment to me would go into escrow and not get disbursed until the ticket is authenticated.

I've put way too much thought into this

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What do you even do with that much money

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