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A place for Get Rich Slowly readers to ask questions
and exchange ideas
It is currently Thu May 23, 2013 5:50 am




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 Post subject: Re: Lottery win!
PostPosted: Sat Apr 07, 2012 5:24 am 

Joined: Tue Sep 20, 2011 2:20 am
Posts: 196
I would buy 100 million cheeseburgers off of a dollar menu.

Kidding, of course.

Obviously, I would sign the ticket, claim the prize. I would pay off all of my debts, my parent's debts, my sister's debts, my relative's debts (I have very very few relatives). These are all mortgage and student loan debts.

After that, I'd buy myself a nice little house.

With the leftover money, (probably close to 99 million left at this point), it'd all go into municipal bonds for my state. Tax free income for the rest of my life.

Oh, also I wouldn't quit my job or tell anyone I'd won at work.

And I'd take some excellent vacations in the coming years.


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 Post subject: Re: Lottery win!
PostPosted: Tue Apr 10, 2012 9:08 am 

Joined: Fri Sep 12, 2008 12:29 pm
Posts: 1304
Location: Seattle, WA
Could you donate a chunk of the lump sum to a private charitable foundation? That would skip a lot of the taxes, assuming the standard rule applies that you can deduct charitable contributions up to 50% of income.


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 Post subject: Re: Lottery win!
PostPosted: Wed Apr 11, 2012 1:16 pm 

Joined: Mon Sep 29, 2008 7:32 am
Posts: 283
I will respond to your question with a link

http://aboardtheworld.com/our_story

Our Story

Since our launch in 2002, The World has continuously circumnavigated the globe, spending extensive time in the most exotic and well-traveled ports, allowing us - the Residents - to wake up in a new destination every few days, exploring with depth we had never before thought possible. It's a lifestyle we are truly grateful to live each day.

At 644 feet, The World is the largest privately owned yacht on the planet. Each of us owns one or more of the 165 private onboard Residences, and collectively, we own the ship, ensuring that our experiences - both onboard and off - are far beyond current luxury travel standards.

But what we share with one another goes far beyond ownership. Each of us has an endless thirst for knowledge, adventure and of course, travel.

This thirst is not only satisfied by our itineraries, which each of us has a voice in creating each year, but by our special, in-depth expeditions and unique Enrichment Program. The Program brings onboard experts in all different fields - diving, wine tasting, world cultures - to prepare us for each port we visit, and beyond.

As time passes, neighbors become travel companions and travel companions become good friends. We offer one another new ways to experience the many destinations we sail to. But above all, we offer each other comfort, good company, and lots of laughter.


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 Post subject: Re: Lottery win!
PostPosted: Wed Apr 11, 2012 2:20 pm 

Joined: Mon Apr 25, 2011 7:37 am
Posts: 385
Taz maybe I can be your guest sometime. I'd be happy with the studio.

I'm assuming their itinerary doesn't go near the gulf of Aden does it?


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 Post subject: Re: Lottery win!
PostPosted: Thu Apr 12, 2012 8:48 am 

Joined: Mon Sep 29, 2008 7:32 am
Posts: 283
Apparently the apartment owners vote on the next year's itinerary.


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 Post subject: Re: Lottery win!
PostPosted: Sun Apr 15, 2012 1:18 am 

Joined: Sun Jan 01, 2012 9:50 am
Posts: 98
I know the big lotteries over here have a standard 'care-package' if you win anything big. (granted, not 100.000.000 big) What they say is that generally people come by in the first week or so, very happy to hand over the ticket, just to make sure they can't loose it. Next the tickets gets checked obviously, and if correct there's a psychologist ready for them and a financial advisor.

Apparently the advice is to not quit your job, to not do anything weird but to get the money invested in something or another and only have about 100.000 on your bank account (next to paying off mortgage and stuff). Apparently this lets people spend for fun, give gifts, go on holiday, pay of all debts and such and feel rich. Then after a year when they're used to the idea of being rich the rest is released. This care package is completely optional of course, but the idea is to protect people from ruining themselves by letting them get used to having a lot of money, rather than just dumping the money on them.

---
What I'd do? No clue, really.


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