Powerball...

[Tanaqui]

Apparently, nobody won the jackpot, and now the winnings (IF you win, which is NOT going to happen) are over a billion dollars. Of course, that's pre-tax. It's a lot less once Uncle Sam takes his share, so, you know, it's almost not worth entering at all!

 

I don't generally do lotteries, considering them a scam and a special tax on the poor, but I'm sorely tempted by this one! Anybody else whiling away the hours planning how they'd squander all that money?

Edited January 10, 2016 by Tanaqui

[happi duck]

I'm tempted but I don't even know where to buy a ticket!

 

I would love to be a philanthropist and a traveler!

[bettyandbob]

For the first time I bought tickets. I bought 5 tickets. That cost $10. Three of the tickets were $4 winners. Since I have to go back to that convenience store I consider that breaking even.

 

It was fun to dream. Dd and talked about at dinner. The first thing she said was she wouldn't need loans for college and grad school. I was thinking we could assemble therapists and fund living expenses (nicely) for younger ds, who has disabilities. There are a few local charities that serve persons with disabilities that could use a boost. I wouldn't work three jobs.

 

... The dream

[Rosie_0801]

I'd want to invest it (not that I know how) and use the interest to do useful things for people.

[nd293]

Australians CAN buy tickets, but sadly only if they're visiting in the US at the time, not online from here. I checked!

 

We don't pay taxes on our Lotto winnings here. (And sadly I can't say I have any personal experience.) I occasionally buy a ticket when the pool is extra big, mostly because the little "What if we win" flight of fancy is such fun.

[creekland]

We often play when jackpots are large.  The $10 we spend is part of our entertainment fund and we thoroughly enjoy plotting what we'd do with the money.  ;)

 

This last time (since middle son was with us) we reminded him that he would still have to go to med school as he's still my first choice as a personal physician (consultant).  ;)

 

The rest of us would end up working at the foundation we'd set up... middle son is included in this as well.  He already does it all, so doing that while being a doctor should be no problem as long as he continues to only need sleep on vacations.

 

Not promising anyone a million dollars though... but I can guarantee the bulk of the non tax money would either go to worthy causes (medical, primary needs of many, education, Christian - not necessarily all four at the same time) or would be invested wisely to be able to continue the foundation for a long time.   :coolgleamA:

 

And we would probably splurge on a house in HI and a nice sailboat for hubby.  Both of those would be used by the foundation for (free) respites for folks when we weren't using them.

[Rosie_0801]

And we would probably splurge on a house in HI and a nice sailboat for hubby.  Both of those would be used by the foundation for (free) respites for folks when we weren't using them.

 

If I could afford a large property, I'd love to have it devoted to respite space for mums with little autistic kids who would all be healthier if they spent more time running around like ferals. :)

[3 ladybugs]

My husband doesn't want to play, but I do. I wanted to get a ticket yesterday but didn't have a chance. I will walk to the store and get one maybe tomorrow.

 

I think I would do a couple of things with the money.

1) Follow the example of my father, who hands out $1 bills to homeless people he sees on the street everyday. He hands out about $15 everyday he says. I would expand this and fund more then just $1 to every homeless person he or I see.

 

2) The industry that my husband got his PhD in (and had to leave due to no work) is all but dead due to mostly bad management and poor decision making. This is over simplifying things but you get the gist. So we would invest in a company to do exactly what my husband knows needs to be done. This would require a sizable investment, but would truly benefit all mankind.

 

Honestly I like my life right now. Not much more money would I need to make things I bit easier. My children want to take a train trip that we currently can't afford. I would love to do that. I want to adopt a baby and cost is a huge thing working against us. I would like to hire a cleaning service to clean my house. Seriously DH making even $10K more a year and I would be happy. So to me winning the lottery would be for the good of others and not myself.

[Guest]

Honestly I like my life right now. Not much more money would I need to make things I bit easier. My children want to take a train trip that we currently can't afford. I would love to do that. I want to adopt a baby and cost is a huge thing working against us. I would like to hire a cleaning service to clean my house. Seriously DH making even $10K more a year and I would be happy. So to me winning the lottery would be for the good of others and not myself.

This is similar to how I feel. The things I would happily take more money for are simple: fully fund my kids educations, travel, helping my parents and other people of meager means.

 

I gotta say, I cannot even begin to understand winning a Billion dollars. I can't even fully understand that much money coming for no reason. I did not buy a ticket this round, but I might for the next one. I'm truthfully a little conflicted because winning that much money is extremely different from becoming very wealthy through work. Money does weird things to people.

[SemiSweet]

This is similar to how I feel. The things I would happily take more money for are simple: fully fund my kids educations, travel, helping my parents and other people of meager means.

 

I gotta say, I cannot even begin to understand winning a Billion dollars. I can't even fully understand that much money coming for no reason. I did not buy a ticket this round, but I might for the next one. I'm truthfully a little conflicted because winning that much money is extremely different from becoming very wealthy through work. Money does weird things to people.

Dh said the same thing, he said he'd like to win $10k to deal with a couple things in the house and that would be good for him. He wouldn't want to do anything crazy, I'm the spender in this relationship. :rofl:

 

I would buy a house in the PNW and one in Cambodia, foster a couple kids, and travel. I'd also payoff or buy houses for my siblings and parents, as well as dh's. We'd start a foundation aimed toward LGBT youth or battered women. Invest the rest.

[The Girls' Mom]

I'd have to go into hiding.  I've read that it is pretty much impossible to win anonymously.  Just crazies from my family alone would make our lives a living hell.  

 

[trulycrabby]

If I could afford a large property, I'd love to have it devoted to respite space for mums with little autistic kids who would all be healthier if they spent more time running around like ferals. :)

Come visit us! Lots of ferals here in our neighborhood, especially on Sunday afternoons. We finally got the boys to wear clothes and stop urinating from trees (they are all 12). :o

[Closeacademy]

If we play this time and won, I would probably invest in the local support system for the homeless and those who fall through the cracks--make too much for government help but too little to actually live and so need help.  So money to be spent on food that people eat and tiny homes where the homeless can keep their pets with them and not have to live in tents by the river. 

 

That would probably be my big one.  Plus I'd have to take care of our parents, educate the kids and buy a few things to make life and making a living better for those we love.

[Tanaqui]

I gotta say, I cannot even begin to understand winning a Billion dollars. I can't even fully understand that much money coming for no reason.

 

You don't actually get that much money. A little more than half of it goes back as taxes.

 

[Carrie12345]

Sorry, I already have a plan!

 

Even with modest investments (or just sitting in a <giant> hole in the ground) I can't come up with any way to spend anywhere near that much money myself.  I do have a lengthy list of all of the ways I'm going to make the world, or at least my corner of it, a better place.  

[kewb]

When the jackpot gets this large we invest $5. It is nice to dream and you've got to be in to win it.

We doubled our investment in last nights drawing. Will keep the profit and reinvest our original $5.

 

I know what I would I do. Pay off my mortgage and debts. Put enough aside for college and grad school for the kinder. Pay off our parents and siblings mortgages. College funds for nieces and nephews. Put aside a nice amount in trusts for the kiddos where they can't touch the principal until they are 40.

Put aside a nice amount for retirement/medical expenses.

Travel the world.

Open an animal sanctuary for all animals from pitbulls to elephants.

Give away what is left to favorite charities.

[Lanny]

The Poll needs an additional option.  We are overseas. I believe it is illegal to buy lottery tickets online. If someone did and they won, the lottery officials would probably not pay. The lottery officials would say it was illegal or fraud or something...   

 

If we could buy a Powerball ticket from the TX Lottery or the FL Lottery we would.  I don't normally buy lottery tickets.

 

Awhile ago, I tried to connect to the FL Lottery web site and it didn't respond. They must be overwhelmed...

 

We are not greedy. One million dollars would solve our problems...

 

GL to those of you who have or will purchase Powerball tickets!

[bettyandbob]

I'd finally let myself take yoga classes and not at a community rec center. And I'd make sure there were all kinds of dance and yoga classes available free or cheap to persons with disabilities (my ds likes dance classes, but we haven't been able to take many at the price of "adaptive" or "therapeutic" classes and there are very few inclusive programs). I'd get my ds all the interventions and therapy possible and fund housing and job programs for persons with disabilities. I'd attempt yo rectify the situation in my state as far as being next to last in support for persons with disabilities with charitable programs.

 

Briefly, I thought I would move to Australia, but they don't let people with disabilities emigrate, even under the pay in. Maybe Canada, but it's cold. I guess i can stay here a visit everywhere.

 

Dd says we can go to WDW and not stay in value resort (we went 8 years ago).

[Word Nerd]

I've thought about buying a ticket for fun, but I don't know how to do it (because there are different options and power picks or whatever--is it $2 or $5?) and would feel stupid buying one. I can daydream about what I'd do with the jackpot without playing at all.

Edited January 10, 2016 by Word Nerd

[JustEm]

I have played the powerball from time to time for fun, not this time around though. I live in a state where you can remain anonymous if you win and that is how it would be. I wouldn't play ever if I lived in a state where I had to go public about it. I imagine that amount of money would be incredibly difficult to hide but I'd try my hardest to figure it out without having to directly lie to people. It is fun to think about what you'd do if you won that much money. Maybe I'll buy a few tickets this week.

[elegantlion]

I never play, but I might buy a few tickets just because.

 

I would finish this semester of school, ds and I would both go to Japan for the study abroad trip, then we would travel some this summer. We would move closer to school and buy an older home that might need to be renovated. I would finish my degree because that is something money can't buy. I'd finish at my current school and start a scholarship fund for my department. Then i would help plan a summer study trip to England and fund the trip for certain classmates. 

 

I'd help my mom a lot, I'd travel a lot. I'd buy a Jeep and ds an El Camino. I would even help out the ex who is having a hell of a time lately. 

[Ailaena]

 

I won't give you a million dollars, but I'll pay off your student loans or your house :D You can either have the lump sum or you can have them take the money out of my bank account.

 

But only because you were the first to ask ;)

[Carrie12345]

I have played the powerball from time to time for fun, not this time around though. I live in a state where you can remain anonymous if you win and that is how it would be. I wouldn't play ever if I lived in a state where I had to go public about it. I imagine that amount of money would be incredibly difficult to hide but I'd try my hardest to figure it out without having to directly lie to people. It is fun to think about what you'd do if you won that much money. Maybe I'll buy a few tickets this week.

No anonymity here. But I am familiar with several local private security firms. ;-)

[rutheart]

We would start a robotics company. Our family has had several specific products in mind for years, but no funds to pull it off. The idea of actually getting to do that makes me giddy. Once the company was solidly under way, then I'd probably work on education reform as a charity.

Ruth

[Lady Florida.]

I played the Florida lottery way back when it first started up, then got tired of throwing money away. I haven't played since before Florida joined Powerball. 

 

So no, I won't be buying a ticket. My odds of winning are still incredibly tiny and throwing money away, even a small amount, is just not fun to me. I'd be a real party pooper if you took me to Las Vegas. Or Atlantic City. Or a casino cruise ship. So if you win, would you take me to London instead? I love London. :D

Edited January 10, 2016 by Lady Florida

[kitten18]

I would hire a housekeeper, someone to come in everyday to cook meals and keep the house tidy.

 

I would also outsource some school stuff (some tutors to come in and work on specific subjects).

 

And then I have no idea what we would do with the rest of the money, it's far too overwhelming to think about.

[stephanier.1765]

If I won (not a player though), I'd have to give most of the money away. It's just an obscene amount of money that I couldn't in good conscience keep that much. I have no idea how I'd decide on who to give it to though.

[Luckymama]

Dd could apply to whatever college she wanted, instead of hunting down merit scholarships.

 

Dd20 could go to grad school if she wanted.

 

Money would immediately go into trust for the kids and any grandchildren.

 

We could travel whenever we wanted. We could buy a place near Tahoe or Yosemite. Fly to Australia first class!

 

Dh would still work. I would be able to volunteer after dd heads to college. Thrice-weekly session with a personal trainer!

 

All the books, omg.

 

(We don't buy lottery tickets.)

[Lady Florida.]

If I won (not a player though), I'd have to give most of the money away. It's just an obscene amount of money that I couldn't in good conscience keep that much. I have no idea how I'd decide on who to give it to though.

 

Yes to this, even though I won't be playing. Not only is it an obscene amount, at my age it would be utterly ridiculous to keep it. I'd start with family, both mine and dh's, then move on to friends. Then I'd set up several foundations, though I haven't really thought about what they'd be like since I don't play anyway. I'd do it all as quietly as possible.

[Lolly]

Dh buys a ticket when it gets this big. We would 1. purchase a house for each of our dc when it came time for them to get a house. 2. fund all of my future grandchildren's and current neice's and nephew's college. 3. travel on one outrageous vacation per year, 4. probably pay off my little brother's house. 5. Fund a big vacation rental for my family to get together once a year in.6. Start paying out my dc's new inheritance to them at the max allowed untaxed per year. Same for any grandchildren when them come along. 7. Buy a new wedding ring set. (Mine is far too small to wear now.)

Edited January 10, 2016 by Lolly

[MomtoCandJ]

We bought 2 tickets for yesterday and will buy 2 for Wednesday. Our plans include paying off all of our debt and those of our parents, buying my mom and brother a new house, us getting a large piece of property and building 3 houses on it (1 for us and one for each set of parents to live in when they are no longer able to care for themselves) and then dh wants to expand the company he works for (it will be his when his cousin retires) we also obviously plan to fund the girls education and I want to expand dd1's school to include high school (there are no private high schools in our area and I think it would be a great benefit). After all that plan for retirement, donate to PBS, our library system and fund a local scholarship for working adults in my area. As you can tell I plan on finishing my nursing degree and we will both still work (if dh doesn't work he would drive everyone batty)

Edited January 10, 2016 by MomtoCandJ

[Murphy101]

I'd have to go into hiding. I've read that it is pretty much impossible to win anonymously. Just crazies from my family alone would make our lives a living hell.

It depends what state you live/win in. Some states will allow you to set up a trust, give it any name you want, and the trust administrators are the ones who show up to claim the prize and the winner is declared as ____ Trust.

 

I'd do that if it were possible. Bc I'm with you. I'm very private and I'd not give that up for a billion dollars.

 

You don't actually have to decide the day you win what to do. You have anywhere from 30-180 days to meet with advisors of your choosing to help you make the best financial strategy that meets you personal goals before you have to do anything.

[The Girls' Mom]

It depends what state you live/win in. Some states will allow you to set up a trust, give it any name you want, and the trust administrators are the ones who show up to claim the prize and the winner is declared as ____ Trust.

 

I'd do that if it were possible. Bc I'm with you. I'm very private and I'd not give that up for a billion dollars.

 

You don't actually have to decide the day you win what to do. You have anywhere from 30-180 days to meet with advisors of your choosing to help you make the best financial strategy that meets you personal goals before you have to do anything.

The state I live in posts your name AND city  :glare:

[Murphy101]

What would I do...

 

I'd set up a trust and live off the income from investing the money. Geez. Even 1% profit off a plain savings account would be enough to live off of.

 

I'd donate to the church.

 

I'd seek setting up some kind of endowment to research curing type 1 diabetes.

 

I'd pay off everything or sell/trade up modestly.

 

I have no desire to live luxuriously materially. So I'd probably buy a nice middle class home that doesn't need as much work as this house and maybe on a bit of property for more privacy and security. But it for sure would not be some McMansion.

 

The major change in our life would be:

 

Less stress. We would never stress over buying insulin for example.

 

More education opportunities. By golly, finally! I would have foreign language tutors starting in early elementary and quality swim lessons. And no worry about buying canvas to paint on.

 

We would travel more. Lots more.

 

Ideally, other than moving and being more relaxed, no one would know we had won. They'd just think my husband and I were doing much better with his self employment business. (I imagine managing all the money would be quite a bit of work, so I'd still think of us as working.)

[Farrar]

Dh buys some sort of yearly ticket that plays the same numbers over and over. But it's not for powerball. A couple of years, the ticket has paid for itself because we've won a couple hundred, but not most. He calls it our high high risk investment.  :001_rolleyes:

 

People on my FB feed are going crazy for this powerball. It's nuts.

[Murphy101]

Lolol. So dh and I are chatting and I'm realizing why so many married winners end up divorced.

 

Dh hasn't listed a single thing I have.

 

And we disagree on telling the kids and whether to set up individual trusts for them.

 

And whether we'd move to Texas or not.

 

And whether we'd just buy a house there too.

 

 

And....

 

Guess it's a good thing that we don't have $2 between the two of us to buy a lotto ticket. Lol

[xixstar]

We had a fun talk last night. I feel like the biggest challenge is how to not tell anyone because I would not be comfortable with anyone knowing, especially my family.

 

I would want to give and do things, nothing overly extravagant I am sure, but I wouldn't want my social life or change because I love my friends and wouldn't want anything to be different.

 

I am not sure if I could get away with a simple "oh we got family inheritance" for when we're improving some things.

Edited January 10, 2016 by xixstar

[Murphy101]

Wow. Went looking out of curiosity..

 

7 in 10 "big" lotto winners end up bankrupt and or divorced.

 

Yikes.

[creekland]

Wow. Went looking out of curiosity..

 

7 in 10 "big" lotto winners end up bankrupt and or divorced.

 

Yikes.

 

This is why I'm super glad hubby and I have always been on the same page with finances, travel, and general life.  We're not the least bit worried about being in that majority.  I would worry if we had regular "discussions" about what to spend money on...

[73349]

Although I think I'd make an excellent billionaire--and I'd be happy to spend my free time running my charitable foundation myself, because that really is my idea of fun!--I decline to play the lottery because I don't think it should exist. I don't think it's immoral for someone else to play, exactly, so I chose the don't-want-to-spend-the-money option.

 

Best wishes to those with tickets!

Edited January 10, 2016 by whitehawk

[JFSinIL]

I'd pay off one son's student loans and then plan on paying for any kids's remaining college in full. Then I'd find and buy a decent ranch house as a group home for our adult son with autism and a couple other similar men plus fund aides to help as needed. I'd set aside a decent amount for my kid sister's use as she sees fit (not my brother, he married into a lot of money and doesn't need a dime). I'd make sure any needed assisted care was in place for my folks. I'd find us a ranch house (I am so over stairs) near ds's group home and move us there. AND we'd all get passports and do some traveling.

 

Oh, and there is a large, multistory former group "home" (really more than a house, over 10,000 feet I think) that closed in town that I would like to make over as a group home for developmentally disabled folks etc. here in town. It used to house at-risk juveniles (and a lot of minor crime occurred nearby, one reason it was shut down. These were kids already with police records). I think it would provide individual rooms for disabled adults, plus therapy rooms, offices for aides and therapists and "house parents" as needed, plus it is on a bus line and a short walk to McD, banks and grocery stores. I can see adults like my son able to live semi-independently in such a place, kinda like assisted living for retired folks who just may need a bit of help, only these folks are disabled (although some may also be old). Just an idea. Illinois has almost zilch in place to help adults with developmental disabilities live independently or semi-independently.

Edited January 10, 2016 by JFSinIL

[JFSinIL]

Wow. Went looking out of curiosity..

 

7 in 10 "big" lotto winners end up bankrupt and or divorced.

 

Yikes.

Hubby is an attorney and his first job was with bankruptcy so at least we would have his expertise when we blew through all the money ;-)

[livetoread]

I buy a ticket a couple of times a year when I feel like it, only because I'm too much of a realist to get pleasure from my daydreams about winning if I haven't actually bought a ticket. I'm not enough of a realist though, because I still buy one sometimes and have daydreams!

 

We live in an anonymous state and my dh and I are very much in agreement about financial matters. We would buy a Tesla as our nod to extravagance and then probably not change much else. We'd travel a lot more and would probably do a foundation thing. I think we could pull it off just fine and would love the chance to try 😄

[JFSinIL]

Oh, wouldn't it be fun to fund WTM scholarships with some of the money?

[*lifeoftheparty*]

My DH would be forced to quit his job if he won that much money- apparently, it would make him a security threat... good thing he wouldn't need a job....

[Guest]

You don't actually get that much money. A little more than half of it goes back as taxes.

Yeah, I know that, but even so, 500 Million dollars after taxes? That is an unimaginably large amount of dough. Even when I start considering things I would do if money was no object, it would be hard for me to even come up with a few million dollar's worth. So, for example, I am happy with my house. I don't want a bigger or more elaborate house. Sure, I would happily replace my broken oven and buy new family room furniture., but I have no desire to live in a gigantic castle or anything like that. Other things I feel the same way about. I wouldn't buy a fancy purse just because I can. I just couldn't care less about status symbol clothing.

[marbel]

Dh said the same thing, he said he'd like to win $10k to deal with a couple things in the house and that would be good for him. He wouldn't want to do anything crazy, I'm the spender in this relationship. :rofl:

 

I would buy a house in the PNW and one in Cambodia, foster a couple kids, and travel. I'd also payoff or buy houses for my siblings and parents, as well as dh's. We'd start a foundation aimed toward LGBT youth or battered women. Invest the rest.

 

The bolded here got me pondering.  This is not directed at SemiSweet at all; it's not a response really, but I quoted it to show where my thinking started.

 

I don't buy lottery tickets, but I have a sister who does.  She and I have a complicated history.  In the past, I was the more financially stable one and I helped her out a lot.  Years later, it flipped, and she became more well off than I.  I had forgiven the unpaid debts, but admit that when her fortunes changed, I had a faint moment of hope that she might remember and repay them; she did not.  Of course I would never bring it up; I had decided a long time ago that it was money gone (not well-spent, but gone in any case) and I only think about it when something brings it to mind. 

 

Anyway... I was thinking about her winning this jackpot.  And I think... though of course I am not sure... that if she won it and offered to pay off my mortgage, I would not accept it.  I think I would always feel that there would be strings attached.  This is because of our history (which is more than me helping her out financially).

 

But it has me wondering... if others would feel that way too.  Obviously not everyone has a difficult relationship with siblings but I wonder how many would feel odd about that sort of thing.

 

I think if I played, and if I won, that would be my first instinct too - to help out the extended family.  So you see I'm not disagreeing. 

 

I do wonder how such riches would change family relationships, even good ones! 

 

[Tanaqui]

That is an unimaginably large amount of dough. Even when I start considering things I would do if money was no object, it would be hard for me to even come up with a few million dollar's worth.

 

1. Count up all the members of my family, estimate their approximate lifespan, assume 75,000 a year, round up, put that money in a trust for them to be doled out at regular intervals. This includes myself. For the younger people, take inflation into account and assume 100,000 a year.

 

2. Form a separate trust for each minor in the family to cover their education.

 

3. Pay off mortgage, purchase new home to live in while paying for all the home repairs we've been putting off.

 

4. Take about 50 million, invest using the advice of an expert.

 

5. Take off for a year or so until the hubbub dies down - travel and all.

 

6. Upon my return, donate the remaining money to charity, primarily City Harvest. It may be wiser to form a trust for this purpose as well, so the money gets doled out to the various charities over time rather than in one lump sum.

 

Edit: I might set some money aside to form trusts for future grandkids and greatgrandkids. That money wouldn't be touched, and if the expected offspring never materialized it would be earmarked for charity.

Edited January 10, 2016 by Tanaqui

[ikslo]

Homeschool community building with science labs, music rooms, art rooms, gym, pool, technology and cool architecture. Separate areas for kids and teens. A house nearby. All this in a warm climate near the water. Because DH wants a powerboat for fishing and a sailboat for cruising.

[Rosie_0801]

Come visit us! Lots of ferals here in our neighborhood, especially on Sunday afternoons. We finally got the boys to wear clothes and stop urinating from trees (they are all 12). :o

 

Sounds like our last place, right along with boys not wearing pants. :lol: Who was he going to offend? The kangaroos?