Ozlotto jackpot is $70m tonight and Powerball $80m. If you won either (/both!) what would you do? Would you tell anyone? Would you keep working? What would you invest in?
If You Won The Lottery Jackpots This Week, What Would You Do?
pf2 on 07/08/2018 - 13:38
Last edited 07/08/2018 - 15:03 by 1 other user
Last edited 07/08/2018 - 15:03 by 1 other user
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Get rid of everything including my home. Live in nice hotels.
and request a username change!
Tell no one outside of very close family. Make it very clear they are never to mention the win to anyone. If word every gets out… everyone I've ever known would come out of the woodwork looking for money. Eventually I would have to say no, and that's when friends instantly become bitter enemies. I have several very close friends and they may share in the money too, but only on strict instructions it's a one off payment, don't ask again, and never ever tell anyone about it.
Keep the existing house. Pay off debt of family members. Maybe buy a Tesla as I've always wanted one, but otherwise live normally. Stick the money in a bank account and live off the $1M+ after tax income while thinking of investing.
The worst things people do after a huge jackpot win:
1) Spend money like there's no tomorrow
2) Blow it on dodgy investments
3) Buy things that are expensive to maintain. Huge houses, Ferraris, etc.Ferraris can be good investments though.
Turn up to work in a fur coat, pimp Cain and two rot weillers, and smoke cigars at my desk, until I got fired, then buy the company, and fire who ever fired me.
Bender? Is that you?
Yellowdieselgolf…. you made me laugh :-)
Not enough hookers and blackjack
I'd most likely quit my job, blow a load of it on fast cars and a private island up North QLD. When I'm not there drinking myself to an early grave, i'd probably be down the casino blowing the rest on the high rollers table. Which would come first?, death or bankruptcy who knows.. but I would enjoy doing it.
Very first thing I would do is login to OZB and post: "smells ya laters maggots"
That’s why u r not winning a lotto 😂
You arent going to win, stop day dreaming and get back to work
Full time Broden
Instantly quit my job, finish the final year of my degree and being seriously pursuing what I am passionate in.
Buy a house and car too but they would be the 2 main things.
You could take a million into your dean and finish your degree in 5minutes
I value the skills I am learning!
gay!!
Wow, not one plan involving Eneloops.
OZB, you've let me down.
I'd buy 200m2+ office space with great view of Sydney harbour, hire 10 people and open a YouTube channel that is combination of Linus Tech Tips, MKBHD and Casey Neistat's channel.
Keep checking SEEK tomorrow :D
They might be richer even if you win lotto
Everyone here who said they would keep their job don't deserve to win becasue they dont know how to spend it
Why would you spend time making more money when you already have enough? Let your money work for you.
See the world, help the poor (travel to 3rd world countries) and brighten their lives
House & Car? thats it? lol clearly no one here sees the bigger picture or potential.
Even with 20 million in savings is enough passive income to keep you going for a long time
35 million in bank even at 2% pa is 700k a year. ( money working for you)
10 million on multiple properties
5 million to the financial advisor to grow that further. (money working for you)
5 million on cars / boat
2 million to travel and help the poor
5 million split and given to my siblings / motherso far thats only 62 million..
Lol 35 mil in the bank, you cannot find any bank willing to pay you interest on the amount of more than 2 million. Also, are you confident to put 35 mil in the bank? The government will just pay you up to 250k for whatever amount you deposit to the bank. You can open your own bank with 35 mil.
multiple banks, overseas banks
I didnt say putting it all in one bank,
you cannot find any bank willing to pay you interest on the amount of more than 2 million.
Citation? Just because they don't advertise, doesn't mean it can't be done. Call the bank and see what they offer…
Some people enjoy their jobs and do it for more than the money.
Agreed.
Also, this is my first career job so I wouldn't quit that easily either.
I genuinely enjoy what I do (bar a few people) and I would like to continue.
keep telling yourself that. When you actually win everything changes. Why would you slave away when you can enjoy your life.
It sounds like you need to find a new job. lol
Well, you have a 70% chance of ending up broke in a few years:
https://www.cleveland.com/business/index.ssf/2016/01/why_do_…Probably not tell anyone, keep working for a month or two and find a reason to quit. Then say I am free lancing (easy to do working in IT), and that work is taking me overseas a lot, where I am really just going on expensive holidays.
6 months down the road I'd buy a nicer house closer to the ocean.
Having not told anyone, and having most of the money invested, I'd say after a year of having the money you'd have a pretty clear idea of what direction you want to take your life in. Either tell people or not. Who knows.
The main thing you'd want to do is build the house by the beach out of Eneloops. Get everyone eneloops for christmas. Start a rocket company that focuses on getting to mars using Eneloops.
So who here won?
not me. Can't buy my company yet :(
I would buy something full price
this. and delete your ozbargain account :(
Of course I will not tell anyway, why would you?
I've thought about this many times. If I won, say $80m, here's what I would do, no question:
- give my parents $10m as a thank you
- give each of my close friends $2m (call it $12m all up)
- deposit $20m into a fund so my wife can distribute an annual sum to whichever causes she sees fit
- deposit $20m into a fund for our kids for when they're older
- give $2m to the RSPCA
- spend the rest setting up scholarships at my university and old schools.
btw, I will not give up my job, it will take time to sink in I have this sort of money. When that feeling has sunk in. I will decide whether to resign.
I'd start worrying how much tax I'd need to pay once I get the money. Don't wanna get a massive headache over that.
I'd put the rest into a trust and give my family slightly above minimum wage payments every month. Most of it would probably be put into an investment fund.
edit: I just took a look at the ATO and it seems like you wouldn't have to pay afterall.
I think no tax on winning from lottery, otherwise there should be negative gearing for loss incur.
No tax on winnings unless you are stupid and call it your income. Which has happened in the past to poker players.
I won $7.25 tonight, will take all your suggestions on board :)
O shit I also won $6.30 in tonight's Powerball, what a week!
Watch the leeches roll in.
Pretty sure I saw this first on Ozbargain, I wish I could remember the original poster in order to pay tribute for the find:
This might interest some of you.
While it is based in America, a lot of it still applies here - and is in general very good advice
https://www.reddit.com/r/AskReddit/comments/24vzgl/you_just_…I will purchase Ozb and redirect all the forum questions google.com
How do you find google.com?
Google it.
Spend half on gambling, drugs, alcohol and wild women. The other half I'd probably waste.
But what if the "Wild women" you mention identify as men? Welcome to the PC/Gender identity madness of 2018!
I am a wild woman who identifies as having the rights of a man.
But what if the "Wild women" you mention identify as men?
Free 12 month cruise in the Bermuda Triangle.
Laughs at all the comments. Anyone actually won any 1st division on here or know someone who has?
My cousins' parents won a million bucks years ago not sure if it was division 1 or not
Former employee at work won 1 - 2 million.
I will donate some amount of the money to my former last work place as a donation just to make the manager feel really bad
I would tell no one, buy a small town in Tassie and grow weed for commercial export.
Number 1 would to buy a bigger block of land and build new house with really good home Theater and then buy my brother a house pay off my sisters house loan and set up my kids do a little bit of traveling
I would quit my job but need to find something to fill the time because I hate getting up really early in the morning for my job but hate doing nothing even more (probably some charity work)
And even with that much money I'd still be frugal and not blow it all on stupid things like a $10.000 Rolex watch and crap like that as you see other people do
and not blow it all on stupid things like a $10.000 Rolex watch and crap like that as you see other people do
This is easy to say, but hard to actually control. For example:
Number 1 would to buy a bigger block of land and build new house with really good home Theater
Huge block of land + new house + good home theatre = very high standard of living. Your family and kids will have expectations to match, and you'll naturally fall into the habit of buying higher-end and more expensive everyday goods to match your new standard of living.
And then before you know it… bam all your money's gone.
I'll let you know Friday morning.
Unlike a lot of people here, I wouldn't quit my job.
a) I like my boss and my co-workers and I'm really happy with the career I've literally fallen into.
b) I've just started making a name for myself and I'd really love to continue :)So, once I know I'd won, I'd go to sleep and continue working for the 2 weeks it takes to hit my account.
- I'd open a few savings accounts because I read somewhere that you can only put in the max of $20 million in one bank account
- I'd pay off my brother's and parent's mortgages.
- I'd give my parents $5M and my brother $3M
- Pay off my HECS debt.
- Help the lives of my friends
- Etc?
Somewhere in there, I'd buy an apartment, a scooter, many MANY dogs, and a goose
the career I've literally fallen into
Are you a miner or ditch-digger…?
Neither :P
Insurance
Just let me win first and ask me after.
Failing to plan is planning to fail.
Does 28 Degrees credit card charge cash advance when buying the ticket online?
Don't all credit cards do?
I'd be advising not to buy the ticket at all if you're concerned about a cash advance fee, but that's just me
They dont charge fee when i buy in store, so if buying online for a $14 ticket comes with a $4 fee, then in store it is.
I'm just an old fashioned girl with an old fashioned mind
Not sophisticated, I'm the plain and simple kind
I want an old fashioned house, with an old fashioned fence
And an old fashioned millionaire
I like the old fashioned flowers, violets are for me
Have them made in diamonds by the man at Tiffany
I want an old fashioned house, with an old fashioned fence
And an old fashioned millionaire
My little home will be quaint as an old parasol
And instead of carpets I'll have money wall to wall
I want an old fashioned house, with an old fashioned fence
And an old fashioned millionaire
- Work out where to keep my money, see a specialist lotto winning financial advisory who specializes in assisting lotto winners with their financial plan (i'm sure this is provided by the lotto company). Try to make $250k per year for nothing
- Buy a Porche or maserati or bmw or something nice
- Buy a massive block of land on the beach and build a dream home
- Give $2M to each of my family members ($10M total)
- Buy a recording studio ($5M)
- Purchase property in overseas locations - Hawaii, Vegas, Floria, Italy, London
- Join board of directors for charities to keep me busy
- Play playstation all day
At risk-free or index fund rates of returns (~2-3% p.a.), you only need about $12 Million to make $240,000 in interest every year.
build a Casterly Rock and a Highgarden
Put it all on black.
Continue to work as current until Jan 2019 until I get my general registration and then probably change to 0.5 time to keep my skills up while I do some research and focus on my masters. Probably work for free to open up more opportunities, eventually get prof of something and teach one day a week
Not that this will happen because im not buying a ticket
Buy a few houses, buy a penthouse in tokyo,a car and offshore bank account. Quit my job and finally go and study what my passions are or find something fulfulling instead of working for money
On a serious note, I would:
A. Not tell anyone except my immediate family as I don't enjoy bragging but would like to share my happiness with them.
B. Quit my job.- Migrate my parents along with my golden retriever (cost: $125k)
- Pay off my debts as of today ($90K)
- Buy a home with decent land size with at least 5 bedrooms in Melbourne at a decent suburb (~$2M). One room would be dedicated to video games/arcade games with a good 4k projector and a sound system.
- Have 6 more golden retrievers, maybe 2 cats, 2-3 ducks, 2-3 chickens,etc ($20k)
- Buy a good 7 or 8 seater car ($100k) and a ford mustang.
- Help my sister's non-profit organisation and would donate atleast a million dollars.
- Give a million each to my parents and my 3 sisters for their children's education and future ($5M)
- Keep $5 million for my kids and $5 Million for my future partner.
- Invest $10 million in some business.
- Give $2M to RSPCA.
- Eat healthy food, hire someone to cook healthy food for my family.
- Put remaining $39M in bank and keep the money rolling which will serve as a salary for my lifestyle.
Total: $70M
Oh well, it's time to wake up!
Edit: Buy a ford mustang because why not!
Number 3 and number 4 are incompatible.
I doubt there are many residents or councils of 'decent suburbs' in Melbourne which would be happy with you having such a farmyard menagerie. Certainly not within a 'reasonable' distance of the city.
Perhaps some outer areas may have suitable zoning; try: Mildura, Lakes Entrance, Portland, Mallacoota.
Also, number 8 confuses me. You saying 'future' partner implies you don't have a current partner. So, you are going to give $5m to someone you don't yet know, but whom you expect to provide you with 'kids'? (Um, assuming you don't already have said kids.) Have you thought about the logistics? At what point do you announce you are granting them $5m? First meet? When you are certain they feel the same way about you as you do about them? Marriage? First successful breeding? ("Er, darling, I didn't tell you before, but now you have given birth to our dear Oswald, here's $5 million.")
And what if this as-yet-unmet partner, upon receiving the $5m boost to her/(his?) bank account simply says: "Thanks Wii, you're a sweetie. Bye." (At least you'd still have your six goldies… :-)) I suggest scrapping number 8, and adding it to number 12.
And, while I'm at it: number 1. I can understand shipping off your parents, maybe migrate them to…. Canada, Mali, Albania, somewhere, but I thought you liked goldies? Surely you'd keep it, especially if you want to get six more of 'em?
Number 3 and number 4 are incompatible.
I doubt there are many residents or councils of 'decent suburbs' in Melbourne which would be happy with you having such a farmyard menagerie. Certainly not within a 'reasonable' distance of the city.
OP has $70mil and councillors are cheap, especially now that kickbacks from developers are probably drying up.
Put most of it in a Vanguard ETF because lazy.
Keep 10 mil in a term deposit.
Remaining in spending.Start looking into becoming immortal ~ cause when you have that much money ~ you'd just want time to spend it…
Unlimited telomeres repairing
I wouldn't quit my job. I would take six months off and travel to every single best beach in the world and kick back on each one for a good week at a time and randomly shout out 'YASSSSSSSS', cocktail in hand. Then I'd buy my Mum a holiday house, and sort out my husband's families retirement for them. Donate some. Pay off the mortgage. Pay the tax. Take the kids to Disneyland. Put the rest in super.
I'd put the bulk of it in ETFs, quit my job and go work overseas for an NGO like the Gates foundation.
Hopefully donate 90% of it over my lifetime.
I'd buy a massive warehouse and fill it with cool cars. Just like Jay Leno
I would be a janitor with a louis vutton mop and bucket
Spend 10m (House, nice car) and put the rest in term desposits or invest it in property.
Use remaining to travel!- Make your own $1-5 million lotto.
- sell tickets.
- ???
- Profit
- Repeat.
- not tell a soul, not even family for about a year while I sort out various investments.
- Keep my job for another 1-2 months before handing in notice stating I have decided to go contracting for the better money.
- invest in a few moderately priced investment properties here and in a few other countries where property investment brings bonus perks like residency.
- put a quarter into overseas managed trust fund with scheduled monthly payments to me for life, on my demise that would then payout to family. making me immune to stuffing up with the rest of the money.
- At about the 12 month period tell rest of my family I had a fantastic win, stating the amount at about 20% of the real value and giving them a generous chunk to keep them going.
- Relocate overseas telling friends I am retiring to X and doing part time remote contract work for my former multi national employer.
- move the remaining money to multiple offshore accounts in various jurisdictions to ensure no one country can ever screw me over with changing tax, residency or financial laws.
- Enjoy the rest of my life travelling, relaxing and perhaps even doing a little charity work on the side.
Correct Answer
Keep it in a bank west account getting QFF points. ;)
Continue to work
I will look for more bargains at ozbargain
I would buy a nice car, build a new house to my liking. Then I'd donate a good chunk of money each year to Alzheimer's research because it hits close to home. I would lock away 2-5 million somewhere in a place I can't lose in the case I blow all of my money. It might have to be in someone else's name.
An annual holiday would be nice. Or maybe several in the first few years.
I would then put money to kick start projects for tech and games I would like to see made but the creators don't have the funding for it.
I would invest the rest, probably in real estate.
I wouldn't go trumpeting my win, but I won't go out of my way to keep it a secret either. If one other person knows, everyone you know will know.
I don't think I would keep my job. At best I'd do 2 days a week and quit if I ask liking the people there.
I can't believe you got me dreaming about what I would do with my lottery winnings. I haven't done that in years. The lottery is a tax on the poor.
only won $15, back to work!
$25 here although the ticket was about $10 so profit of about $15 too
I tell you what I'd do man. 2 chicks at the same time man.
With that money, you can have as many as you can handle at the same time!
I’d just tell everyone and not give a single cent to anyone. In before my username jokes
Does the OP own a tatts outlet? All this money talk has got me hypnotized to but a lotto ticket.. I have a friend who would demand money. One of them has already hinted that i buy him stuff when i got $100K inheritance. Imagine if i won 80 Mil … I would still give him half a Mil but say the winnings was a couple of million as you don't want to be somebodies purse for the rest of your life.
Also Invest in some luxury properties with high value (not a heap of shitty properties that cause you constant grief) .. yep, i have had a few of them. :-(Buy an Island with a volcano that really is a rocket silo and hire a crap load of henchmen and have a swimming pool with sharks and the sharks would have lasers. I would drive around the island in a small electric cart and hold the worlds largest under ground martial arts tournament.
I'd buy dominos without the vouchers