What would you do,,,,

[Hunterman]

,,,If you were one of the people to have won this latest 3 hundred plus mil. Mega Jackpot???? Would you take the lump sum or the payments over 25 years...

Me,,I would take the payments and set up my kids then set me and my wife up on the coast...

Hunterman(Tony)

 

[DRAFTSTUD]

I would give everyone on this Board 1 million dollars as long as they had at least 1180 posts. John

 

[A-con]

I always said I would take the lump sum because dividing it up over 26 years wouldn't leave you with all that much annualy, but 370 mil ? Lets see

Lump sum 50% payment 370 X .5 = 185
taxs 185 X .55 = 101.75 mil up front, after taxs
vs
370/26 = 14.23
taxs 14.23 X .55 = 7.826 mil yearly, after taxs

It's hard to say. With the 101 mil, I could probably payoff all my credit cards and have enough left over to eat at Tony Roma' every day.

Remember that guy who won something like 300 mil a few years back and took the lump sum ? Didn't he end up blowing it all in strip clubs ?

 

[IDHunters]

I think there would be a large ranch in my future if I won. Take the money up front, pay yourself with interest.

101 million @5.4% (cd rate) = 5.45 million per year passive income before tax with almost 0 risk. With 101 mill you could probably invest in tax free munis and get close to cd rates today.

 

[DRAFTSTUD]

ID, At 101 million you could spend $5000 a day, 365 days a year for over 55 years....If you never recieved and interest on your money! Yeah, a ranch previously owned by Teddy Turner. John

 

[ashersdad]

Lump sum and then hunt till it's gone .

 

[WH's OutdoorsChick]

I would take the payments. Like good Ol Tony I would help out my siblings and Parents and HELP them out. Then I would wait a couple of years when our kids are old enough to enjoy it, take them and my neice's and travel the world!!!!!!!

 

[Trent]

Steps I would take

#1 Hire a lawyer
#2 fly to the top of the building to collect my $$$
#3 Head to the "RV" place and travel the world
#4 Have a trusted accounttent to mange the $$$
#5 Start buying up large amounts of land on my travel USA/CAN
#6 After my trip around the world give family more $$$.
#7 Start a large guiding service
#8 Make sure there is a large amount of beer in stock at all times
#9 Then I relax and enjoy life to the fullest
#10 Subject to change my order of inportance on a whim
#11 Protect #5 from over population and have it set so that when I die it can not be destroy at any cost. For you good folks that have kids of our future

 

[wilecoyote76]

Honestly, I wouldn't want to win that much money. You would almost be forced to move to some small chithole town in the middle of nowhere where nobody knows who you are/were. I'm guessing you would have massive phone calls and solicitations from organizations and people you have never heard from or met in your life wanting money for idiotic reasons. Save this, save that, we'll name a hospital wing after you, help recover stolen surveying equipment (sorry Moosie ) blah, blah, blah and the list goes on. That kind of money only brings more problems than you had before you won it.

Sure it would be nice to win big but I would rather win a smaller jackpot - enough to live comfortably and still have all the toys and time to hunt and fish and invest and the list goes on.

 

[JB]

Honestly, I wouldn't want to win that much money.

two things:
1. that's just plain un-american !
2. I call bullchit !

 

[wilecoyote76]

Okay JB, you got me! It would be nice to have tons of money. I don't play the lottery so I certainly can't expect to win it.

 

[noharleyyet]

Well... when I was in my 20's it would have been sex, drugs, & rock/roll...& piss off the rest.

Now it would be sex drugs, hunting, murdercycles, rock & roll...& piss on everybody.

...wileycoyote, I don't play the redneck 401k either.

 

[mdcrossbow]

Lump sum and buy a ranch in Idaho. Then one in KY. Then land on the eastren Shore of Md. A island in the Thousand Island area and then go hunt and fish

 

[Moosie]

Problem is, People that don't have money don't know anything about money and should not get lump sums of money. I think only the Rich should play the loto. Lump sums of money to poor or comon folk only bring disaster.

Even Wittaker with a million before he won had troubles :

Legal and personal problems
The pressures of his new wealth also caused numerous problems. Whittaker has been arrested several times and has had numerous well-publicized legal and family problems.

On August 5, 2003, thieves broke into his car while it was parked at the Pink Pony, a strip club in Cross Lanes, West Virginia. The thieves went away with $545,000 in cash [1][2]. Two employees at the same club were later arrested and charged with a plot to put drugs in Whittaker's drinks and then rob him. On January 25, 2004, thieves once again broke into his car, this time making off with an estimated $100,000 in cash.

Jack Whittaker was then arrested for drunk driving on Interstate 64 on January 16, 2003. If convicted, he could face up to 6 months in jail. On January 6, 2004, Whittaker was arrested for misdemeanor assault after allegedly threatening the life of a bar manager in St. Albans, West Virginia, a charge that could bring an additional 6 months in jail. He has also been sued after allegedly groping a woman at a dog racetrack. Whittaker told a TV station after he was charged with drunken driving, "It doesn't bother me because I can tell everyone to kiss off."

In September 2003, Jesse Tribble, a 17-year-old friend of Jack's granddaughter Brandi Bragg, was found dead in Whittaker's home in Teays Valley, West Virginia. A coroner's report indicated that he died of a drug overdose. Several months later, on December 20, 2004, Brandi, 17, was found dead after a drug overdose. After she had been missing for several weeks, her body was discovered lying under a tarpaulin near her boyfriend's home in Scott Depot.

At an October 11, 2005 hearing related to his January 2003 DUI, a visibly shaken Whittaker lashed out at area law enforcement agencies for focusing on his troubles while failing to arrest anyone in relation to his granddaughter's death [3],

“ "Go after whoever killed my granddaughter with as much zealous [sic] as these butt holes are trying to convict me of something I didn’t do." ”

Whittaker is also being sued by Caesars Atlantic City casino for bouncing $1.5 million worth of checks to cover gambling losses. Whittaker is also countersuing them, claiming that his losses were supposed to be credited due to a slot machine he developed and that they in fact owe him money. [4]

On January 11, 2007, Jack Whittaker announced that thieves on September 11, 2006 took most of the money [1]. The robbers, according to his account, went to 12 City National Bank branches and cashed 12 checks. The incident came to light because Whittaker has not been paying money to a woman that had previously sued him. Kitti French filed a complaint earlier in the week, requesting court costs and money from Jack Whittaker.

 

[Moosie]

8 lottery winners who lost their millions
Having piles of cash only compounds problems for some people. Here are sad tales of foolishness, hit men, greedy relatives and dreams dashed.

Read Below :

http://articles.moneycentral.msn.co...oney/8lotteryWinnersWhoLostTheirMillions.aspx

Here's Another :

Substance Abuse Claims Lottery Winners' Lives
Within five years after Mack W. Metcalf and his estranged wife, Virginia G. Merida, split a $34 million winning lottery ticket, both were dead -- him of complications due to alcoholism and her to a possible drug overdose. In a New York Times article, "Instant Millions Can't Halt Winners' Grim Slide" James Doa tells their tragic tale

How About this one ?!?!

Eight Sad but True Winners Stories
Powerball winner found days after death
Million dollar lottery winning causes family tensions
Lottery shop shortchanges winner bigtime
Ripped-off lottery winner is a Mexican
Lottery winner charged in theft
Lottery winner cries foul
Caller claims to be recent lottery winner
Stop begging, says lottery winner

Seven Sad but True Winners Stories
Lottery Winner Hangs Self 7 Years After Collecting Win
Lottery winner lied at bankruptcy hearing
Lottery Winner Lands in Jail
Lottery Winner Sentenced For Failing To Pay Taxes
Suspect in death of lottery winner pleads not guilty
Lottery winner could face legal action
Lottery Winner's Business Target of Complaints
Posted Oct 8, 2005 - Click here to read all stories

http://www.lottoreport.com/sadbuttrue.htm


....

OK, I didn't mean to kill this thread, but I see more and more people jsut throwing money at the LOTTO system and it drives me NUTZ !!!!! It's a False hope fore millions of people. They say they push money into the School systems when in fact they do, but they pull the budgets and re-allocate them to spend on something else so the end result is someone else get's funded.

Anyway, sorry about the Rampage Carry on !!!!

 

[Steiny]

Why not just drive down the road and throw a ten dollar bill out the window?
At least someone will have a good day, when they pick it up.

I don't do lotto, and it pizzes me off to be behind some moron at the quickmart that clearly can't afford to be wasting money, picking and choosing lotto tickets, while holding up somebody that just wants to buy a cup of coffee and go to work.

Back to the thread.
Buying land would be smart
Some real simple safe investments that would make about 5%
Do some philanthropic stuff around my community
Square all of my family away, so none of them had any debt
Quit working, and turn managing my money into my job
Lots of hunting and fishing

Oh yea.... Throw out the wife and kids and move in couple 25 year old nymphos that like to clean fish, wax my truck and clean my guns in the buff.