1.6 Billion?


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Surprised this hasn’t come up yet.  What’s the dream item?  Other than a wild spending spree for a year on 24:24 of course ?

I’d set up a trust for family and travel more.  In theory I can get cigars when in London and Canada and not worry about taxes as much.  

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Surprised this hasn’t come up yet.  What’s the dream item?  Other than a wild spending spree for a year on 24:24 of course
I’d set up a trust for family and travel more.  In theory I can get cigars when in London and Canada and not worry about taxes as much.  

If I were to win I decided one of the things I would do is to attempt to set up a little speakeasy for my friends and family. Nice location with a nice bar (smoking friendly of course) 24 hour access, billiards, pinball, etc. basically a private cigar lounge/bar.


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A farm, managed by somebody who knows what they're at, growing everything from lettuce to beef.

I'd always have fresh food, all my friends would get a free-range turkey for Christmas.

After that, an ACJ-350 with a smoking lounge, managed by a leasing company (I'm hardly going to throw away 300m on a plane with nothing out of it).

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It's too much.
I would give away 90% of it.  
People do not need that much.  Even if one takes it in one big lump sum and is left with only 900-odd million, who needs so much money?  It only creates headaches and misery ...
 
 
The problem with that is the IRS gets 40% of what you give away as a gift tax on top of the income tax you had to pay when you won. You can avoid the gift tax by giving no more than $15,000 to any one person, but that would take a lot of people.
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To echp 

1 hour ago, gweilgi said:

It's too much.

I would give away 90% of it.  

People do not need that much.  Even if one takes it in one big lump sum and is left with only 900-odd million, who needs so much money?  It only creates headaches and misery ...

 

 

I agree..these insane jackpots are just a monkey paw type deal. It destroys families, it breaks people.

If I'm honest with myself, and consider my past, distant and close, there is only one way that it could go if I won that jackpot

I'd be dead before the weekend was over.

That's why I don't play the lottery.

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1 hour ago, FatherOfPugs said:

That's a lot of dough to try and get rid of, and yet, large jackpot winners file for bankruptcy within 5 - 10 years of winning. I'm not sure how you could spend that insane amount of money, but somehow people find a way. 

And that's if they're not dead. I believe that winning a large lottery such as this comes cursed. It would be life-changing for sure, but it's a scary thought when suddenly everyone knows about it. If you can somehow keep it a secret, bravo. It would almost immediately require a 24 hour security detail for yourself and your entire family. People are crazy.

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I think there are some that have won huge jackpots who have done well with the money. Many flame out or are victims of crimes and those stories make good reading. If I won I'd go out of my way to remain anonymous and would dedicate my self to giving it away. If the payout is 900 mil, whatever I wanted and could give my family, with out destroying them, would surely be small stuff in the big picture. Money is like manure. leave it in a big pile and it stinks to high heaven. Spread it around and it makes everything grow. The right person could do a lot of good with that much dough.

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For sure. Something like 30-40% of the world does not even have access to basic clean running water and sanitation measures. Which blows my mind. I have no idea what it would cost, but I would at least attempt at giving them the basics. I would pay people to keep everything as anonymous as possible. I think it would be best to immediately take half of the money and invest, diversify for the future. No sense in it not accruing interest and dividends, especially after paying all the tax bills. Let it keep growing

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If I won, which I won't, i'm doing what the lady from New Hampshire did and suing for privacy. 

With my privacy, i'm not telling anyone. Just my wife and I know. We buy into her parents farm, and we take a salary. Only paying debts of mine and my wife's parents and brothers. 

If investments can make 1% of 500 million, that's way more than I need to live in 1 year.

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16 minutes ago, MooseAMuffin said:

If I won, which I won't, i'm doing what the lady from New Hampshire did and suing for privacy. 

With my privacy, i'm not telling anyone. Just my wife and I know. We buy into her parents farm, and we take a salary. Only paying debts of mine and my wife's parents and brothers. 

If investments can make 1% of 500 million, that's way more than I need to live in 1 year.

There are several states, including SC, where you can claim the prize anonymously.

I bought a ticket in SC :)

 

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I'd move some place where I am just another rich person.  I would spend a lot of it on stuff that takes a lot of labor so people have a chance to earn it back.  Would spend a lot on keeping myself, family and friends safe from threats and scammers.

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22 minutes ago, MountainMilG said:

There are several states, including SC, where you can claim the prize anonymously.

I bought a ticket in SC :)

 

Ya. Unfortunately I dont live in a state like that. I get they want to ensure the "integrity" of the game, but I'd rather be left alone lol

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A tax attorney and my accountant would be able to retire. Then I’d just buy something big. Maybe...Cuba.

 

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Set up family office, farm out much of the liquid asset mgmt. to my team (I work in private banking currently). The family office would be for the purpose of managing all assets, from basic municipal bonds which would be a huge portion of it, to real estate acquisitions as well as a private equity /venture cap arm.

Much of the passive income from the muni bonds and real estate would go towards financing what I would imagine to be the lifestyle of a household that grosses about 3m annually. Of course a lot of this would be charitable in nature, but none of it would be given away in a reckless manner to individuals. I'd hire a lot of experienced people to run the charitable gifting part of it and try to find a core cause...somewhere along the lines of cancer research and education funding. Properly managed money can fund good causes in perpetuity.

The fun stuff:

Don't need much except a few fun cars and a bigger house so we can get more huskies. Probably a GT3RS.2, Defender 110, CGT and an S65

Probably have more LE's and a nice walk in humidor haha.

My greatest extravagance would be to almost always charter on legs longer than 3 hours.

 

 

 

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The IRS taxes 'other income' at a rate of 28%, so the takehome on an even 1.6 billion would be 1.152 billion. What would I do with it?

Invest 1 billion in a manner at which it will pay me at a minimum 5% interest annually. My interest would net me $50 million each year. That would more than pay for every one of my lavish expenses, plus give me money to invest in my childrens future without decreasing my billion dollar account that will continue to grow for my family for seemingly forever.

I would build my dream house in southeastern Massachusetts, where I grew up and probably spend ~$8-10 million on it. An 8 car garage with a full gym on top of it, a 5 bedroom house with a finished basement and a separate maids quarters. The basement would have a large walk in humidor, a smoking lounge, a large bar, a pool table, poker tables and the like. The third floor of the house would feature a large movie theatre and whatever auxiliary rooms my wife wants for the house. The second floor would be where the bedrooms are. Each bedroom featuring its own walk in closet and large bathroom.

Aside from my main house in MA, I would buy a vacation property in San Diego. Nothing too crazy, probably a penthouse condo on Coronado. Crazy expensive yes, but simplistic in nature. Those two houses would probably cost me ~$35 million total, leaving me another 117 million to live off of/enjoy without touching my investment account or interest accrued. My condo would also house a massive humidor, probably an Aristocrat since I'll only be there on vacation entertaining guests. I'd hire someone from a local cigar shop to take care of my stock and pay them a very generous sum.

The rest of my time would be spent on vacation seeing the world and enjoying myself. Taking my family to see foreign countries and enjoying beautiful trips abroad.

I would hire @El Presidente to be my person cigar manager and pay him an annual salary of $300,000 US to travel abroad and source only the finest LE's and RE's as well as beautiful regular production. Airfare and lodging will be paid for, the $300,000 is yours to keep/spend.

What a life that would be...

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50 minutes ago, joshhooper7 said:

@El PresidenteThe IRS taxes 'other income' at a rate of 28%, so the takehome on an even 1.6 billion would be 1.152 billion.

 

But you would be in the highest tax bracket which is now 37%, plus state income taxes, if you state has them.  Your still on the hook for the other 9% + state taxes on April 15th, 2019...

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 *There's seven families I'd solve a LOT of problems for; but first I'd have to tithe it. Then I'd like to think I'd use it in the long run to help people. I've felt this way all my life, despite my world-wise mom advising me, when I'd talk like this: "Girl, you tryin' to save the world; people'll kick ya in the teeth for it." And I have experienced more than a few times that "no good deed goes unpunished." Yet, I'd take my time with it, invest, donate to charity (tax advantage, y'know!), and so on...:thinking:  :dollarsign:

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Fun to imagine. I’d like to say I would not change much but that probably isn’t possible. I’d close the house up and spend a couple of year traveling in our motorhome. Instead of towing my Jeep I’d buy a stacker trailer with Porsche Boxster Spyder and my Jeep inside. I’d also have Bob Staebell build a built in aristocrat humidor in the coach. 

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14 hours ago, MountainMilG said:

Surprised this hasn’t come up yet.  What’s the dream item?  Other than a wild spending spree for a year on 24:24 of course ?

I’d set up a trust for family and travel more.  In theory I can get cigars when in London and Canada and not worry about taxes as much.  

You just won 1.5 billion and your worried about Cigar taxes ?

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Build all my family members houses. Set up my kids with funds to keep them financially secure till they pass. Travel and enjoy my life. Charity would see some money. Oh, and have a walk in humidor and man cave with about anything you could ask for on hand ;) haha nice to dream about that kinda income.

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If the odds are one and 292 million and each ticket cost 2 dollars. With a payout of 900 million, it would cost almost 600 million to purchase all of the tickets. Would this be one of the few times when the expected value is higher than the initial investment?

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I have bought 10 plays for this game. What would I do in the SUPER unlikely event of a jackpot win??? Well I know I would give much of it away to friends and family. There is truly no better feeling than giving! After that I would retire(obviously) and never have another boss, I'd travel the world, searching and acquiring the best cigars money can buy, Dunhills, Davidoffs, pre-embargo stuff, etc and just generally live the good life!

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