Powerball Winners on Being Filthy Rich

cwo_ghwebb · 11-28-2012, 09:54 AM

Quote:

The Powerball jackpot just hit a record $500 million. On the eve of this week’s drawing, past winners tell Caitlin Dickson how their windfalls did—and didn’t—change their lives.

The country might be teetering on the edge of a fiscal cliff, but at least one lucky American might soon have nothing to worry about: the winner—or winners—of Wednesday’s record $500 million Powerball jackpot. Sure, you have a one in 175,223,510 chance of winning, but that shouldn’t stop you from gambling $2 of your hard-earned money for a shot at being filthy rich (that $500 million could be even higher by Wednesday night’s drawing, depending on how ticket sales go).

Or should it?

Powerball Winners on Being Filthy Rich - The Daily Beast

Interesting article. But all these folks made the right decisions. I can only hope the winner(s) tonight make the right decisions also.

glhs837 · 11-28-2012, 10:43 AM

Quote:

Originally Posted by cwo_ghwebb

Powerball Winners on Being Filthy Rich - The Daily Beast

Interesting article. But all these folks made the right decisions. I can only hope the winner(s) tonight make the right decisions also.

Seems the key to not being ruined by it is avoiding the rockstar lifestyle, not changing your life completley, and just using it to better the life you have. Dont go and buy a house on the water in LA, and a penthouse in NY, and oh, just a little one on the Riviera. And a full suite of cars at each, oh, and the private jet to whisk from one to the other.

One item of interest is that none of the winners interviewed were higher than 30 million after taxes. this drawing could be 10 times that amount for take home in a lump sum.

cwo_ghwebb · 11-28-2012, 10:54 AM

Quote:

Originally Posted by glhs837

One item of interest is that none of the winners interviewed were higher than 30 million after taxes. this drawing could be 10 times that amount for take home in a lump sum.

I would think that fiscally responsible people would have the same habits if they won $30 or $3million.

But I could be wrong.

*bcp* ^(Premo) · 11-28-2012, 05:41 PM

I would put up a new house on my property, stay here until my wife was ready to retire.
I might buy a house for my daughter to live in while she was in college instead of her living in a dorm or apartment.
oh, and I would get the scratch on my bumper fixed.

Of course, there would be a select group of people invited to one kick ass party. Then I would become sensible with the rest.

*GURPS* ^(Premo) · 11-28-2012, 05:55 PM

Quote:

Originally Posted by glhs837

Dont go and buy a house on the water in LA, and a penthouse in NY, and oh, just a little one on the Riviera. And a full suite of cars at each, oh, and the private jet to whisk from one to the other.

One item of interest is that none of the winners interviewed were higher than 30 million after taxes. this drawing could be 10 times that amount for take home in a lump sum.

500 million I could swing that and have cash left over for rib eye and prime rib every night

500 mil jackpot - 250 mil after splitting with the states

30% in taxes ...... 75 mil

175 mill left ...... yeah I could build a compound with that

*GURPS* ^(Premo) · 11-28-2012, 05:58 PM

Quote:

Originally Posted by bcp

I would put up a new house on my property, stay here until my wife was ready to retire.

Insensitive ass ...... why would your wife have to work until retirement

175 mil ....... everyone retires today NOW ....... do not pass go, flee PG County ASAP

TNRabbit · 11-28-2012, 06:04 PM

Caribbean here I come! I'd get a plane & my pilot license, then spend 80% of my time in paradise.

glhs837 · 11-28-2012, 07:16 PM

Quote:

Originally Posted by GURPS

500 million I could swing that and have cash left over for rib eye and prime rib every night

500 mil jackpot - 250 mil after splitting with the states

30% in taxes ...... 75 mil

175 mill left ...... yeah I could build a compound with that

Actually, with a lump sum payout of 360mil on a 550 win, here in MD, you walk with 238 mil after fed and state taxes. And yes, you could buy the 20 mil house on the beach in Malibu, and the 10 mil penthouse in New York, and the 15 mil place on the Rivera. After all, thats only 45 million. Leaves you with 193 million. No problem. But houses like that you dont just buy the house. Houses like that take staff. And even paying them minimums (and who wants people who have access to your house being paid minimums?) your looking at maybe 100K a year in paying for upkeep, add utilities that wont be cheap, and dont forget large tax rates, those three houses could cost you a million or more a year just to own. Thats what I'm talking about, once you start spending like that, you cut so far into your principal that there's not enough left to earn that upkeep money.

Inkd · 11-28-2012, 10:57 PM

I'd spend most of it on booze and cheap women. I'd just waste the rest.

Seriously, a large piece of land, nice cabin or house, truck maybe a couple other things to go along with that and I would be as happy as can be.

I'd maybe go on some good hunting trips, Africa for sure.

*bcp* ^(Premo) · 11-29-2012, 07:13 AM

Quote:

Originally Posted by GURPS

Insensitive ass ...... why would your wife have to work until retirement

175 mil ....... everyone retires today NOW ....... do not pass go, flee PG County ASAP

because she would want to?
and Im not an ignorant enough of an ass to make her stop doing what she loves to do?

11-28-2012, 05:41 PM	#4
bcp ^(Premo) In My Opinion Member Since: Dec 2005 Posts: 42,895	I would put up a new house on my property, stay here until my wife was ready to retire. I might buy a house for my daughter to live in while she was in college instead of her living in a dorm or apartment. oh, and I would get the scratch on my bumper fixed. Of course, there would be a select group of people invited to one kick ass party. Then I would become sensible with the rest. Share Share this post on Digg Del.icio.us Technorati Twitter Add post to Facebook TNRabbit likes this. __________________ Fear the Government that Fears your gun.
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11-28-2012, 06:04 PM	#7
TNRabbit Registered User Member Since: Oct 2012 Posts: 222	Caribbean here I come! I'd get a plane & my pilot license, then spend 80% of my time in paradise. Share Share this post on Digg Del.icio.us Technorati Twitter Add post to Facebook Nupe2 likes this.
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11-28-2012, 10:57 PM	#9
Inkd Registered User Member Since: Aug 2009 Posts: 698	I'd spend most of it on booze and cheap women. I'd just waste the rest. Seriously, a large piece of land, nice cabin or house, truck maybe a couple other things to go along with that and I would be as happy as can be. I'd maybe go on some good hunting trips, Africa for sure. Share Share this post on Digg Del.icio.us Technorati Twitter Add post to Facebook
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