Author Topic: powerball  (Read 25864 times)

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Offline Mrs. Gooch

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Re: powerball
« Reply #200 on: January 13, 2016, 04:12:37 PM »
First, I'd hire an attorney & accountant (before I even claimed the prize) then I would hire my friends depending on their area of expertise.

Offline Emo EMAW

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Re: powerball
« Reply #201 on: January 13, 2016, 04:13:46 PM »
Whatever the take-home amount would be, I would be sure that in my lifetime I would have given away just as much.  It'd be pretty easy, too.  And real charities like St Judes and Shriners and stuff like that.  And when I die I'd give the rest to the Nature Conservancy or something. 

Offline TownieCat

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Re: powerball
« Reply #202 on: January 13, 2016, 04:22:59 PM »
After taxes, the net from taking the lump sum is approx $422M.

http://www.cnbc.com/2016/01/11/tallying-the-big-tax-bite-of-a-14b-powerball-win.html

I would have a hard time spending 10% of that in my lifetime, especially considering the money you don't spend immediately will accrue interest for the next year's expenditures. Theoretically, you could invest $25M into something that yields 4% each year and spend that $1M every year without ever touching the principal.

Offline Tobias

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Re: powerball
« Reply #203 on: January 13, 2016, 04:24:32 PM »
bagman winters, we're gonna have to upgrade your bag quality dramatically

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Re: powerball
« Reply #204 on: January 13, 2016, 04:26:05 PM »

Offline Gooch

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Re: powerball
« Reply #205 on: January 13, 2016, 04:28:03 PM »
 :eek: That Russian dude who bought the nets wouldn't even come close to Trim as an NBA owner.

Offline K-S-U-Wildcats!

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Re: powerball
« Reply #206 on: January 13, 2016, 04:31:11 PM »
Step 1. I'd throw a party for my family and invite my tax attorney. They'd all be like "who's this weird guy?" Then I'd make a toast and tell everyone "As of today, you guys are all millionaires. Dave's here to help set things up for you." I'm thinking I'd actually have to put the money into trusts for each family to avoid double taxation.

Step 2. Put aside $50 mil or so into an endowment. Live off the interest. Put the remainder in a charitable endowment (most of which I'd just dole out to existing charities).

Step 3. Build a place in the mountains and a place on the beach. Keep the house in Kansas.

Step 4. Get a private jet. Travel world with wife and kids.

Otherwise lead a very normal life. I wouldn't want to quit my job, but I'd try to cut back to part-time if they'd allow it. I'd stick to the routine particularly for the kids' sake. That's the only downside to coming into this sort of money, preventing your kids from becoming trust fund fuckups.
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Offline Bloodfart

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Re: powerball
« Reply #207 on: January 13, 2016, 04:32:13 PM »
I would buy this blog so I could get rid of the mark all messages as read button.

Offline The Tonya Harding of Twitter Users Creep

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Re: powerball
« Reply #208 on: January 13, 2016, 04:32:32 PM »
"keep the house in kansas" wouldnt be on the top 5000 things id do first
I think what my friend Mitch is trying to say is that true love is blind.

Offline Tobias

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powerball
« Reply #209 on: January 13, 2016, 04:32:41 PM »

I would buy this blog so I could get rid of the mark all messages as read button.

:lol:

Offline Gooch

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Re: powerball
« Reply #210 on: January 13, 2016, 04:33:15 PM »
No kids! :woot: Hookers and blow on the reg!

Offline star seed 7

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Re: powerball
« Reply #211 on: January 13, 2016, 04:47:55 PM »
First, I'd hire an attorney & accountant (before I even claimed the prize) then I would hire my friends depending on their area of expertise.

Can I be a friend? If yes, what's my job?
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Offline Mrs. Gooch

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Re: powerball
« Reply #212 on: January 13, 2016, 05:27:55 PM »
First, I'd hire an attorney & accountant (before I even claimed the prize) then I would hire my friends depending on their area of expertise.

Can I be a friend? If yes, what's my job?

I will hire you to give me a summary on each of the presidential candidates to help me decide who to vote for.

Offline pissclams

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Re: powerball
« Reply #213 on: January 13, 2016, 05:34:47 PM »
I'd pay off my parents house first. Buy a myself house in the $500k range. Then just invest a chunk of it and also collect interest off what I pocket. Once the interest starts accumulating then I'd make some more vanity purchases (vacation homes, elite level cars). If my investments pay off, then start doing crazy crap like travelling the world and dining at Michellin Star restaurants on the reg.
What the eff are you talking about? This is beyond generational amounts of money. This is Brewster's Million (mellinials won't get the refrence) type money. I would buy ice bergs and crap just cause I could.

What do you get after taxes? $350m? I don't think that is generational amounts of money if you don't invest some of it. If I won, retired now, and lived another 40 years, I absolutely could blow through all of it. Especially if I went off the deep end with purchases.

how would you not invest $400M?  storage unit? 


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Offline SdK

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Re: powerball
« Reply #214 on: January 13, 2016, 05:35:33 PM »
First, I'd hire an attorney & accountant (before I even claimed the prize) then I would hire my friends depending on their area of expertise.
Yes. First order of business is hiring my friend thar works in business law. Give her money to start her own firm and be her primary client.

Offline yoga-like_abana

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Re: powerball
« Reply #215 on: January 13, 2016, 05:37:45 PM »
First, I'd hire an attorney & accountant (before I even claimed the prize) then I would hire my friends depending on their area of expertise.

Can I be a friend? If yes, what's my job?

I will hire you to give me a summary on each of the presidential candidates to help me decide who to vote for.
How do you feel about adopting someone under 30, mom? I wear a size 13 so people might buy that we're related!

Offline SdK

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Re: powerball
« Reply #216 on: January 13, 2016, 05:39:54 PM »
I also wouldn't tell anyone for a while. Like a long while.

Offline cfbandyman

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Re: powerball
« Reply #217 on: January 13, 2016, 05:46:28 PM »
Step 1. I'd throw a party for my family and invite my tax attorney. They'd all be like "who's this weird guy?" Then I'd make a toast and tell everyone "As of today, you guys are all millionaires. Dave's here to help set things up for you." I'm thinking I'd actually have to put the money into trusts for each family to avoid double taxation.

Step 2. Put aside $50 mil or so into an endowment. Live off the interest. Put the remainder in a charitable endowment (most of which I'd just dole out to existing charities).

Step 3. Build a place in the mountains and a place on the beach. Keep the house in Kansas.

Step 4. Get a private jet. Travel world with wife and kids.

Otherwise lead a very normal life. I wouldn't want to quit my job, but I'd try to cut back to part-time if they'd allow it. I'd stick to the routine particularly for the kids' sake. That's the only downside to coming into this sort of money, preventing your kids from becoming trust fund fuckups.

This is pretty close to the overall things I would do except I don't have kids or a house, but I could change that  :eye: After taking care of parents and siblings debt and setting some aside for each of them, I think I'd split it $50 mill for my own endowment, $100 mill for endowment for various charities, $100 mill for various venture capital stuff (I don't care, would be fun to actually do like my own version of shark tank) and $100 mill for K-State endowment in various capacities. Any left over is for one w/e the eff I feel like.
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Offline Mrs. Gooch

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Re: powerball
« Reply #218 on: January 13, 2016, 06:11:37 PM »
First, I'd hire an attorney & accountant (before I even claimed the prize) then I would hire my friends depending on their area of expertise.

Can I be a friend? If yes, what's my job?

I will hire you to give me a summary on each of the presidential candidates to help me decide who to vote for.
How do you feel about adopting someone under 30, mom? I wear a size 13 so people might buy that we're related!

Are you passed the crying in the middle of the night and wetting the bed stage?

Offline sys

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Re: powerball
« Reply #219 on: January 13, 2016, 06:43:04 PM »
i'd probably produce a child.  wouldn't want my generational wealth to escape my genetic sphere of influence.
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Offline Cire

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Re: powerball
« Reply #220 on: January 13, 2016, 06:50:57 PM »

i'd probably produce a child.  wouldn't want my generational wealth to escape my genetic sphere of influence.
:horrorsurprise:


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Offline Cire

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Re: powerball
« Reply #221 on: January 13, 2016, 06:52:27 PM »
I'd put it in annuities and travel with friends


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Online Trim

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Re: powerball
« Reply #222 on: January 13, 2016, 07:02:52 PM »
A shitty thing about powerball, at least here, is the other people you have to deal with at the powerball ticket seller's (7-11).  Almost not worth the billion-plus.

Offline chum1

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Re: powerball
« Reply #223 on: January 13, 2016, 07:14:43 PM »
I sure am impressed with how wise and prudent some of you are. I'll be sure to invite you to share some of my official new Guinness World Record sized plate of nachos. On top of a mesa in New Mexico. With live music by oscar Springsteen.

Offline Cire

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Re: powerball
« Reply #224 on: January 13, 2016, 07:27:13 PM »
great filter in that post


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