I won the 640 $million jackpot

seriously...why do people spend so much money on this?

what would you do with the money, assuming the immediate payout?

me:

1. philanthropist. i would donate an amount to my church. to my university, probably not my grad uni, they have something like 500 million endowment, but my undergrad does not and i like my undergrad more.

2. pay off all student debts and credit card debts.

3. buy a modest 2 million dollar home in san diego and somewhere in hawaii.

4. continue to post on JPP
 
I buy a couple of chances in the Mega Millions and Powerball every week. I've won $150 a few times, and smaller amounts more often. I know I'm not breaking even, but I'm also not spending much.

The fun fact about the $640 million lotto jackpot is the US Gov't would blow thru it in 80 mins.
 
The fun for me is to imagine what you would do if you won. I find that if you don't buy a ticket it isn't nearly as fun to do that. That being said... I don't spend much on it. $1 per drawing. So about $6 (Powerball is $2 per ticket) per week to imagine life with millions...

Worth it to me. And what if I do win?
 
The first thing I would do is set up an account at a brokerage for my winnings to deposit into...

Then I would pay off all Mortgages on every property I own. Then I would start researching where to put a bunch of the money. Buy my wife a new car... then:

I would settle on a personal rule, no buying cool stuff until the money is settled as wisely as I can make it. Then I would get a property where I would build a garage in town, just a garage. Drive my truck out to pick up whatever car I wanted for that day. Sweeeeet.
 
I'd hire a lawyer, an accountant and a financial advisor before I collected my winnings.

Then set up my kids and myself with a trust fund so we'd be set. I'd have a sweet car collection, a gun collection that would have Billy creaming his jeans, and a house on the middle of enough land that, with plenty of No Trespassing signs, if I could see you I could shoot you.
 
WinterBorn said:
I buy a couple of chances in the Mega Millions and Powerball every week. I've won $150 a few times, and smaller amounts more often. I know I'm not breaking even, but I'm also not spending much.

The fun fact about the $640 million lotto jackpot is the US Gov't would blow thru it in 80 mins.
Click to expand...

you're like me...i only gamble for fun and stop when the losing becomes far less than even.

interestingly, the revenue from the sales are (at least i remember reading) as much, if not more than the payout.

i have no problem with voluntary taxes like this.
 
Damocles said:
The fun for me is to imagine what you would do if you won. I find that if you don't buy a ticket it isn't nearly as fun to do that. That being said... I don't spend much on it. $1 per drawing. So about $6 (Powerball is $2 per ticket) per week to imagine life with millions...

Worth it to me. And what if I do win?
Click to expand...

fair point.

in grad school i used to buy starbucks everyday. when i landed my first job during the summer, i worked for a successful firm and my boss made a quip about my starbucks habit and how if i used that money to invest, made my own coffee at home or drank his in the office for free, how much could i save and then come ahead.

i stopped going to starbucks. then again, drinking starbucks could never give me the hope of winning millions.....
 
Damocles said:
The fun for me is to imagine what you would do if you won. I find that if you don't buy a ticket it isn't nearly as fun to do that. That being said... I don't spend much on it. $1 per drawing. So about $6 (Powerball is $2 per ticket) per week to imagine life with millions...

Worth it to me. And what if I do win?
Click to expand...

I would pay off all my families homes and debtI would donate to my favorite charities, and I would make sure my granddaughters had college money or business seed money.
 
After doing all the legal and financial stuff, I'd take care of my family and friends. I'd give some to my church and favorite charities and anonymously donate money to people you read about in newspapers who have hardships. You know the stories: somebody needs a wheelchair, furniture, medical treatment etc. Then I'd travel.
 
50,000 acres of land somewhere like Montana, a house in the middle, and more guns than I could ever use. Also give my buddies a couple million each so they can retire also.

A Mercury Marauder 2004 also. And ammo. Id be the largest importer of that shit.
 
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