OT: $675 Million Powerball Jackpot -- What's your plan for the money?

Submitted by 608Monroe on

I'm not gonna win it.  You're not gonna win it.  No one you know is gonna win it because the odds of winning it are impossible.  But that doesn't distract from the fact that the largest lottery jackpot in U.S. history is up for grabs in Saturday's Powerball drawing.  It currently stands at $675 million, and could rise to as much as $900 million before gametime.

http://money.cnn.com/2016/01/06/news/powerball-jackpot-500-million/

I told my boss if I win, I won't even come back to clean up my office.  They can have it all.  In fact, with the exception of my immediate family, I think there's a decent chance I would disappear entirely, only coming back on occasions of my choosing -- but even then, my new name would be Chad, and I think I'd wear a beret.  I'd probably adopt a fake accent, too, because F everyone.

Aside from travel, which would be my first big maneuver with the money, I seriously think I would spend the majority of my time on philanthropy, figuring out how best the money could be used to help people -- particularly kids.  That, and I want a pet monkey.  Preferably a lemur.

You?

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Don

January 7th, 2016 at 9:32 AM ^

Buy Chunks the Hobo a van and supply it with a year's supply of government cheese, jerky, sterno, and the most advanced animatronic sex doll on the market.

Joined: 06/30/2008

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Trump

January 7th, 2016 at 9:02 AM ^

1. Pay off wife's student loans
2. Buy wife new car
3. Quit job
4. Buy lake house and cabin
5. Help our family and close friends
6. Fund for kids
7. Travel
8. Relax

Joined: 07/09/2012

MGoPoints: -9889109

UM Fan from Sydney

January 7th, 2016 at 9:10 AM ^

The government is loving this because at some point, those assholes are going to get a large payday when someone wins this thing...those damned jackals.

 

Also, the first thing I would do is pay all my wife's and my debts, which isn't a lot to begin with. I only owe about $7,800 on my student loan and about $4,000 for credit cards. We don't have any car payments, mortgage, or anything else that is considered bad debt. Then I would do the same for my parents, brother, and sister. Then I'd give each of them a chunk of the winnings. Then I would keep the rest for the wife and me. I would not retire just yet. I'd likely wait until I'm about 50 years old and then do that.

Joined: 09/17/2015

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Toasted Yosties

January 7th, 2016 at 9:04 AM ^

Buying the world supply. Seriously though, aside from obvious charity work and securing retirement and college for my family, I'd create my own production studio and fund a few movies/tv series (expect a dramatized version of Black and Blue, a Ufer movie, "Bo," and a few other Michigan films), build an Alamo Drafthouse movie theatre or two, buy a BWWs franchise, create a glass blowing academy, which will be free for young artists, and, of course, fund MGoBlog so they can make an even better website. That's just the first couple years.

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Perkis-Size Me

January 7th, 2016 at 9:04 AM ^

1) Give at least half of it to charity. No reason for any one man to have that kind of money all to himself.

2) Quit my job, open a dog shelter. If I ever got to a point in my life where money wasn't a problem anymore, that'd be what I do for a living. No question.

3) Set my kids up for life

4) Travel



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608Monroe

January 7th, 2016 at 9:16 AM ^

I sense your sarcasm.  But let it be known -- there's a fishbowl in my office filled with Junior Mints.  There's also a Sony Sound Dock (bluetooth) which they can have, but it seems to only play effeminate classical music.  There's a dry erase board (with markers) that I paid for myself.  Currently it has a drawing of Snoopy and Woodstock, where Woodstock appears to be shooting snoopy in the head.  And most importantly, there's a Bo bobble head, who nods yes to good decisions -- but also shakes his head, as well.  That thing has helped me with multi-million dollar decisions, affecting hundreds of workers.  Actually -- I think I'll ask for the bobblehead back.

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LSA Aught One

January 7th, 2016 at 9:06 AM ^

Norway.  Norway, you say?

 

http://www.bornrich.com/secret-submarine-base-sale-175-million.html

 

Once I get settled, I get in touch with the NAME department at Michigan.  I have then build me a sub in exchange for using my base whenever they wish.

I have a helicopter pad installed.  I deck the place out with stuff from Target, maybe Bed, Bath and Beyond, if I have time.  Order some wings and have the entire MGoBlog Community over for March Madness. 

Joined: 08/24/2011

MGoPoints: 28421

snackyx

January 7th, 2016 at 9:07 AM ^

If I win a $675 Poweball jackpot,  I am, by the very defination, lucky...and we all know luck comes in streaks (ask any blackjack player)...so the play is to parlay the winnings into something bigger:  Buy 675 million $1 scratch off tickets (or whatever the number is after taxes), hire a flock of the unemployed to start scratching, and watch the fortune multiply, all the while helping to put people back to work.

You're welcome.

Joined: 12/04/2010

MGoPoints: 730

treetown

January 7th, 2016 at 9:12 AM ^

The poor spend a lot of time thinking about what their lives will be like when they are rich. The rich never spend any time visualizing their lives if they were poor (unless they came from poor roots).

Practically, you'd have to lay low and use your money quietly. A quick search on the internet "lotto disaster stories" will find plenty of examples of people who destroyed themselves.

Pay off all debts. Fund educational funds. Get good chair backed seats. Get in good physical shape (so you'll enjoy your new wealth for as long as possible). Finally relax.

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Autostocks

January 7th, 2016 at 10:26 AM ^

I'm serious.  Not all at once obviously, but with that sizeable amount of a jackpot, I'd create a charitable trust with 50% of the net payout and spend the rest of my life giving it away.  This is basically what Bill Gates, Warren Buffett, and Mark Zuckerberg have signed up for, because they have come to the realization that there is no way they would (or could) ever spend their fortunes on themselves.  25% of the net, which could be on the order of $75 million, should be plenty to take care of me and my wife for the next 50 years.

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