The $365 ($177.2) Million Question

[Frank-0-Sport]

Greetings ..

OK. Pretend it's Saturday February 18, the latest Power-BALL numbers have been drawn, and on Sunday Morning it turns out that YOU have the winning ticket!

Congratulations! You've just won $365 million (annuitized), or $177.2 million (cash option).

So, what do you do with your winnings? That's the Question!

As for me, it's evenly divided between myself, my siblings and a joint fund shared by various nieces and nephews. Then I find 40 acres, a house, couple of trucks, a few cats, start a garden, relax.

$365 Million - $1 million for each day of the year. After taking the cash option of $177.2 million, then paying taxes and certain expenses, you're down to a net $101.2 million (more or less), which is equal to about $277,260+ per each day of the year.

A $365,000,000 Golf Event .. Probably the Fed Ex Cup in 2200 AD!

1st ... $ 65,700,000
2nd ... $ 39,420,000
3rd ... $ 24,820,000
4th ... $ 17,200,000
5th ... $ 14,600,000
10th .. $ 9,855,000
20th .. $ 4,745,000
30th .. $ 2,482,000
70th .. $ 730,000

BONUS: Florida-Georgia Lottery Links . Watch the PowerBALL jackpot grow before your very eyes.

Thanx-A-Lot and Always Play Responsibly, Frank-0-Sport

[iacas]

If I had $100M, I'd spend about $50M to buy a house and a whole bunch of other stuff (cars I want, etc.) in or near Orlando. Maybe near Tiger's house. I'd get a membership wherever I could, up to and including Augusta. I wouldn't get in, but I'd try.

Since I'd have no debt, I'd just put the other $50M in somewhere where I could earn 5% interest or so, reliably. That'd give me $2.5M to live off of each year. That's "only" about $7k per day, so I think I could get by.

I'd play a lot of golf, give everyone here at The Sand Trap $250/day to play golf and write an article or two per week, and enjoy my life. And when I was dead and done, my offspring (just the one right now) could earn $2.5M/year and live in my old house if she wanted to.

Frank, you should come on our Podcast sometime.

[Snoogans]

Lets see....

1. Pay off all mine and my family's bills.
2. Go 2 work and quit.
3. Make some investments in various markets.
4. Buy a fat house for my mom and gma.
5. Take some friends and go travelling everywhere until I got bored.
6. Buy a fat house for myself.
7. Buy all the cars I need
8. Do whatever I wanted.

[cmarkmyers]

177.2 MM... About 1/3 will go towards close family (wife's family too) and good friends. I want my friends unemployed so they can hang out with me for golfing, vacations, whatever.

Maybe 3 to 5 million on a house on a few acres in a quiet area. Pool (indoor and out), golf related stuff like a putting green (indoor and out) and maybe a launch monitor/simulator. Top end home theatre system (not a big home theatre room, something more intimate), maybe a full bar complete with pool tables, juke box, booths, tables, etc. Guest house (for the inlaws).

Lets see, lots of money left. Maybe I will build a 9 hole course in my back yard and hire a maintenance staff. I guess I will need more than a few acres then.

[aceadair]

Since it is so far from reality it is really hard to even think about that!

[Frank-0-Sport]

Greetings ...

NOTE TO FORUM MODERATOR -- Please change this topic's title to "PowerBALL: We've Got A Winner (Ain't Me) !!"

Someone in Nebraska (or a person just passing thru) is about to have life turn upside down.

That party is the lone winner of tonight's POWER-BALL jackpot, which was $365 million annuitized, $177.3 million cash option.

Winning numbers are 15-17-43-44-48 and PowerBALL 29. I matched nothing, but as a consolation my tickets are good for 2 more draws.

The winner has numerous options as to what to do with all that loot!

Thanx-A-Lot, Frank-0-Sport ... Lottery Links Page

[iacas]

  Frank-0-Sport said:

Greetings ...

I'll pass...

[Indian Sensation]

8 workers from NE pooled their money together and won the stinking thing...Dont worry Frank, I had my money waisted as well. 3 of the 8 already quit work, 3 are immigrants, and only 1 was a women. There life will never be the same again. But on the good news, I could win 15 million tonight, 5.4 after taxes of course :)

[iacas]

  Indian Sensation said:

8 workers from NE pooled their money together and won the stinking thing...Dont worry Frank, I had my money waisted as well. 3 of the 8 already quit work, 3 are immigrants, and only 1 was a women. There life will never be the same again. But on the good news, I could win 15 million tonight, 5.4 after taxes of course :)

You only need a million bucks. Then live off the interest.

[cmarkmyers]

You can't live off the interest from a million. Even if you get $40,000 after taxes (even good safe investments won't net you more than that, considering income from interest is taxed higher than normal earned income) that probably won't be enough for most people to come close to maintaining their lifestyle. Without work you can have more expenses, as you have to cover your own insurance and it would be hard to not spend more day-to-day money with the extra 45+ hours a week of time you have on your hands. Then factor in an inflation rate of lets say 2 1/2% and your $40,000 year is only $25,000ish after 20 years.

Still, a cool mil would do a lot to change my lifestyle. The difficult part would be keeping me from being broke in 3 years.

[iacas]

  cmarkmyers said:

You can't live off the interest from a million. Even if you get $40,000 after taxes (even good safe investments won't net you more than that, considering income from interest is taxed higher than normal earned income) that probably won't be enough for most people to come close to maintaining their lifestyle. Without work you can have more expenses, as you have to cover your own insurance and it would be hard to not spend more day-to-day money with the extra 45+ hours a week of time you have on your hands. Then factor in an inflation rate of lets say 2 1/2% and your $40,000 year is only $25,000ish after 20 years.

A few things. First, I meant a million after taxes. Second, a million with a pretty sane investment plan will get you $50k/year.

Since $50k per year for one person's income puts you in about the 85th percentile (on the good side), I think you can live off of it. I lived in an expensive area of the world (southern Florida, Palm Beach/Boca area) for far less and I didn't do it by penny pinching, either. The inflation is taken care of by not spending every penny of the money you make from the investments. In other words, in 10 years, you have $1.1M earning money back to you. If I ever had a million bucks, I'd like to say I'd quit my job, but I'm a freelance guy so there's nothing to quit. But I'd scale back. I wouldn't stop altogether because I'd have nothing to do. I'd look at the $50k/year as "expenses money" and then any extra I earned doing little bits of work here and there as "spending money." I'd volunteer more. I'd spend a lot more time with my dog. Don't believe me? Give me a million bucks and check back with me in 30 years. I'll let you know how I've done.

[Touredgegal]

I'm counting on you for the $250/day so buy those power ball tickets.