Powerball 1.9 BILLION!

[cohunt]

Contact the three tax, trusts and estate attorneys I know to set up a trust.
The trust would elect the 30 year payout option.
Once the money hits and I receive my first disbursement, pay off the kids' student loans.
I love my job but would resign.
There are a few schools and charities I know that deserve generous donations.
The rest would be, "figure out as you go."

Last time i looked-- Only 11 states allowed for trusts to anonymously claim a prize payout-- the prize usually must be claimed as individuals then can be transferred to a trust. Each state will have its own rules/laws regarding things like this-- that's why its advisable to contact an attorney before you claim your prize. And remember that normal banks aren't really set up for amounts this large ( fdic only insures to 250k)-- you'd need to find a private bank/investment corporation to handle large amounts involved in huge jackpots. But these private banks want your money so they often have perks like free access to attorneys, investment advisors, higher return rates on saving, etc.

Statistics show that jackpot winners typically declare bankruptcy 3-5 years after they win---- if you win--learn to say no

We can all dream right?

 

[birddog 68]

Statistics show that jackpot winners typically declare bankruptcy 3-5 years after they win

All I can say is I bet they had a bunch of fun for 3-5 years!

 

[K.E.C. Darkside]

I'd do the same things I'm doing now.

You don't need a billion dollars to live your best life.


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What he said. You can spend 1 million dollars a day and never run out of money. That's to much money. If anyone here Wins, my wife and I could finish retiring the rest of our life with 1 million. Comfortably. Thanks.

 

[M1A1ABRAMS]

Take steps to remain anonymous. Then Have fun putting 100k $ bricks of cash in all my friends and families mailboxes from time to time. Of course I'd hafta put it in mine also so that nobody suspected I was the guy.

You need my address ? lol

 

[M1A1ABRAMS]

How about we all buy 5 or ten tickets a piece ? If anyone wins we get on here & share the news. Spread the pot out evenly. Granted this will only work with trust. I don't live in a fantasy world. But my brother in law did this at work. And they all got close to $65,000.00. After all said & done. And they didn't even hit the jackpot. They were the only ones that won with five numbers. Not six. So anyone that comments on this thread. And can show their tickets for the drawing day are entered. Yes or NO ? Tickets will only need to be shown if somebody wins.

 

[JimFromTN]

Take steps to remain anonymous. Then Have fun putting 100k $ bricks of cash in all my friends and families mailboxes from time to time. Of course I'd hafta put it in mine also so that nobody suspected I was the guy.

Just remember. All the money you give away, you have to pay taxes on unless it's a charity. If you give a friend $100k then you will have to pay the government taxes on it, not them.

 

[fnlights]

1. Create a separate investment account where the interest and dividends all get donated to various charities
2. Pay off all debt for myself and close family
3. Make an impulse purchase(s) of some type - probably a place with some acres in MT or CO
4. Invest the rest and live of interest and dividends

After taxes and such I imagine the payout would be slightly over $600mil - so even if you decided to spend half of that - you will be left with $300 mil. If you invest that in a modest investment account earning 2% interest, you could live off of that $6mil / year and never touch the $300mil.

 

[Kimber7man]

1. Create a separate investment account where the interest and dividends all get donated to various charities
2. Pay off all debt for myself and close family
3. Make an impulse purchase(s) of some type - probably a place with some acres in MT or CO
4. Invest the rest and live of interest and dividends

After taxes and such I imagine the payout would be slightly over $600mil - so even if you decided to spend half of that - you will be left with $300 mil. If you invest that in a modest investment account earning 2% interest, you could live off of that $6mil / year and never touch the $300mil.

If you take the cash option it will be around 500 million, then take 40% out for federal taxes and then take whatever out for your state taxes. So you'll be left with 250-300 million cash.

Reasonable rule of thumb is to expect to net 25-30% of the total jackpot if you choose cash option.

 

[Recon$$]

Welp fingers crossed Wednesday... I got grand exit plans at work. Very eccentric and inappropriate.

 

[M1A1ABRAMS]

If you take the cash option it will be around 500 million, then take 40% out for federal taxes and then take whatever out for your state taxes. So you'll be left with 250-300 million cash.

Reasonable rule of thumb is to expect to net 25-30% of the total jackpot if you choose cash option.

Should I bring a triaxle dumper then ? When I pick up my Cash winnings.

 

[Coyote Shadow Tracker]

We made our own LOTTERY! We just wish that we could live off of the money that we saved up for the 50 years to retire on.
If we hit the lottery we would take care of our family and Church.
Then buy/build a Primer Factory and give FREE Primers to all LRH members for lifetime!

 

[Muddyboots]

So tonight's drawing of 1.2B = $597M cash option.

Let's assume 40% tax.

Take home ~$359M

Wow, what a let down!

 

[xsn10s]

So tonight's drawing of 1.2B = $597M cash option.

Let's assume 40% tax.

Take home ~$359M

Wow, what a let down!

So divide that by 50 year lifespan, wildly exaggerated for me lol, and that's just over 7 million per year. Is that enough for gas now?

 

[Muddyboots]

So divide that by 50 year lifespan, wildly exaggerated for me lol, and that's just over 7 million per year. Is that enough for gas now?

Maybe. Or maybe enough to buy an E vehicle.