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re: Powerball is back up to $1 billion annuity ($433.1 million cash) drawing tonight
Posted on 8/12/26 at 10:25 am to The Pirate King
Posted on 8/12/26 at 10:25 am to The Pirate King
quote:
people who say this kind of stuff would be the first ones broke.
They're just financially literate
That stuff you mentioned buying in a previous post would still leave you with around $200M to invest and live off the interest even after stupid purchases
0
Posted on 8/12/26 at 10:26 am to bigberg2000
quote:
Then go the annuity route.
I think Mark Cuban made the point that most people should be doing this when the number gets that huge.
Managing a billion dollars or 500MM even is a full time job for several people.
Posted on 8/12/26 at 10:29 am to CatfishJohn
quote:
I'd try to hold off on huge purchases for a few years to get the 6% applied to the $260m in full, then start big purchases.
I fully agree with you in theory, but I don't think most people would have that kind of discipline with the money sitting there, and the numbers about how many lottery winners go broke agrees with that. (The most conservative estimates are 1/3 go broke)
Posted on 8/12/26 at 10:30 am to The Pirate King
Holy shite that’s a lot of taxes!
Posted on 8/12/26 at 10:30 am to The Pirate King
I could do a lot of good with that money
Posted on 8/12/26 at 10:31 am to fightin tigers
quote:
Managing a billion dollars or 500MM even is a full time job for several people.
Depends. There are some really basic and safe investments you can make that one guy can handle amongst his other wealthy clients.
Or you can make it complicated if you want.
One thing I always say I'd do and I think would feel the best, is make a trust for all my kids, neices, nephews, parents, in-laws, etc. Give them all $1m with clear restrictions or buy them homes in their names. I'd buoy my entire bloodline and wife's bloodline.
Posted on 8/12/26 at 10:31 am to The Pirate King
quote:
people who say this kind of stuff would be the first ones broke. If you're not thinking about and managing your money, even $250 million, you're going to blow it all.
The point is, $250 million isn't a situation like a multi-billionaire who literally could buy anything asides from a sports franchise or a country and not notice the money gone.
its like you have little concept of how interest works.
you could go blow $50 million right off the bat. buy couple houses, yacht etc and take the 200 million, invest it and get 5%, get over 800k per month without ever touching the principle.
hell at 4%(which you can get guaranteed with 200 million, you could get 667k PER MONTH while never touching the principle.
that is enough to travel when, wherever, however and buy pretty much whatever you want while doing so.
the only way to spend that type of money is to give away 10s of millions.
you are out your mind
Posted on 8/12/26 at 10:32 am to The Pirate King
quote:
I fully agree with you in theory, but I don't think most people would have that kind of discipline with the money sitting there, and the numbers about how many lottery winners go broke agrees with that. (The most conservative estimates are 1/3 go broke)
Most people who win the lottery are dumb and trashy because most people who consistently play the lottery are dumb and trashy (not all).
I'm not dumb or trashy.
Posted on 8/12/26 at 10:33 am to lsu777
quote:
its like you have little concept of how interest works.
You're wasting your time
Posted on 8/12/26 at 10:34 am to The Pirate King
quote:
Just the upkeep, HOA, and taxes on the houses is a high bill that goes on indefinitely.
I can't imagine winning 260 million and buying a house with an HOA
Posted on 8/12/26 at 10:36 am to iwyLSUiwy
quote:
I can't imagine winning 260 million and buying a house with an HOA
They're not all cookie cutter suburb HOAs.
Check out Discovery properties, Palm Beach neighborhoods, and things like that. Or penthouses in NYC, etc.
Not saying I would do those things, but a lot of billionaires have that shite.
This post was edited on 8/12/26 at 10:36 am
Posted on 8/12/26 at 10:36 am to TDsngumbo
Everyone at work throws $5 in to buy tickets.
I’ll be damned if I’m the only one who didn’t put in and they win.
I’ll be damned if I’m the only one who didn’t put in and they win.
Posted on 8/12/26 at 10:37 am to CatfishJohn
No I know. Just me personally, I'm winning and buying a couple hundred acres somewhere and being as far away from an HOA as possible.
Posted on 8/12/26 at 10:40 am to iwyLSUiwy
quote:
No I know. Just me personally, I'm winning and buying a couple hundred acres somewhere and being as far away from an HOA as possible.
Same.
Posted on 8/12/26 at 10:42 am to SulphursFinest
quote:
Everyone at work throws $5 in to buy tickets.
I’ll be damned if I’m the only one who didn’t put in and they win.
That would have me in a deep spiral of depression that I'm not sure I'd ever recover from. All my coworkers get filthy rich and quit and I am just sitting there day after day, year after year thinking about what could've been.
That's why I also pitch in
We do a prorated system. Whatever % of the pot for tickets you pitch in, that's the % you'd get if a win happened. My boss always throws in like $100 for the $1b+ jackpots and I do like $10/$20, as do most others.
Posted on 8/12/26 at 10:47 am to fightin tigers
quote:
Managing a billion dollars or 500MM even is a full time job for several people.
Great id need something occupy my time
Posted on 8/12/26 at 10:50 am to The Pirate King
quote:
Somehow I feel like $260 million is simultaneously a lot but also not a lot. You could wipe that out pretty quick in today's dollars. A couple houses in prime areas, a private plane, some cars, some trips with your whole extended family.
Just the upkeep, HOA, and taxes on the houses is a high bill that goes on indefinitely.
Or I could just continue to live a quiet life with a new hunting property for my Dad, a boat, a paid off house, and $260million in the bank, but hey that's just me.
Posted on 8/12/26 at 10:57 am to classicgold
quote:
Or I could just continue to live a quiet life with a new hunting property for my Dad, a boat, a paid off house, and $260million in the bank, but hey that's just me.
I feel like this would be me. I can't act like I've been there before if I haven't been there before.
Pay my house off; make all the repairs and upgrades I want. Set myself up and my wife and kids with a few nice things.
I'd really want to stay low profile anyway. If you're going to live large you better disappear first.
Posted on 8/12/26 at 11:04 am to The Pirate King
quote:With $260million, lets say you put half of that in investments. The dividends would pay all of your bills. This is assuming you don't go buck wild buying a bunch of crap with exorbitant monthly expenses. Aka a private jet and 7 vacation homes.
Somehow I feel like $260 million is simultaneously a lot but also not a lot. You could wipe that out pretty quick in today's dollars. A couple houses in prime areas, a private plane, some cars, some trips with your whole extended family.
Just the upkeep, HOA, and taxes on the houses is a high bill that goes on indefinitely.
Also, with that much money, I would be my own HOA.
Posted on 8/12/26 at 11:11 am to fightin tigers
quote:
I think Mark Cuban made the point that most people should be doing this when the number gets that huge. Managing a billion dollars or 500MM even is a full time job for several people.
Yep. He said “if you’re that good at managing money then you’d have it already.”
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