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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All on Black.
Hire full-time activists around the world who ruin everything George Soros funds. Fund private investigators that record/reveal the hypocrisy/lies/crimes/adultery/pedophilia of his associates until he and his family are as popular as cancer. Sharp shooters that puncture certain rubber rafts with darts, causing them to slowly sink so occupants are forced to swim back to shore, etc.
invest it! with the interest i'd live off that very comfortably!
Travel a bit and stay in 4+ star accommodation everywhere i go
give a bit to family
Quit my dead end job go back to uni get an MBA (start a company)
It is funny i had this conversation with someone the other day and they where like i'd tell everyone and hire someone to hold a sign that says F*** You to anyone who asked him for money bahahahaha
I'll still be on ozbargain even if I won
My plan:
- Delete my OzB account
- Blow all money in a couple of years
- Join OzB again
So 2 winners won 35 million each in Ozlotto. Fingers crossed I win the Powerball haha.
I think if I won that much money (>35mil or really anything more than 1mil) I wouldn't tell anyone about it - like at all - until it was in my account or …wherever you put that much money. I'd imagine my day to day attitude would completely change as well so I'd have to try and hide that a bit to subdue suspicions. After it had sunk in I'd consider my options. Actually, now that I'm really thinking about it (jeez I'm gonna be really disappointed when I don't win on Thursday) I wouldn't even tell anyone how much I had won.
Depending on how much I actually won, I'd likely pay off the debts of my immediate family members, making sure that I was fair in treating them equally whilst steering clear of giving out cash.
Without knowing much about trusts and the like, I'd explore these avenues after consulting with a financial adviser or similar.
I'd spend a reasonable amount buying a house and consider an investment property in a place I'd be happy to live or holiday. I'd prefer to stay away from properties that require body corporate/owner's corporation fees. For example, I'd love to have a high-rise apartment on the Gold coast looking out to the ocean, watching the sunrise etc.. but the thought of spending upwards of 5k/year in fees without doing anything makes me think twice. (The more I think about it, the more I'm like, hang on, I just bought this apartment and now I'm paying rent in addition to paying rates etc.)
Depending on the financial advice, I'd probably just mull over my options for a few months and treat myself to a few material things - but nothing too extravagant.
I'd definitely consider donating to charity but would be more inclined to set up a trust or something so that it becomes a consistent source of income for them. I also like the idea of helping students with housing, perhaps setting up or contributing to housing scholarships or buying properties to create low-rent housing for students close to campuses.
Ultimately I'd like to think I would be responsible, setting up a sustainable income stream and being careful to restrict any spending in proportion to how much I won and subsequently earn (using that term loosely)
If You Won The Lottery Jackpots This Week, What Would You Do?
Make an appointment with GP asap, to investigate the blackouts :/ .
I don't gamble. That is the way to be a 'winner' . Don't waste money gambling at all :)Buy bitcoin
Use 90% and set up income generating foundations, which focus on finding cures\treatments for many of the illnesses of the world.
Keep 10% for me.
first of all, i'd lawyer up, get a financial advisor, keep going to work, tell nobody.
Secretly set up trust accounts for family and and a few small charities, put the bulk of it in some sort of high interest/stock account(s)
Once everything is in play i'd reveal to select people that i'd come into a little bit of money, not heaps but enough to get me started in life. also likely reset my immediate family members debt's (HECS, mortgage etc)
buy a house, a holiday house 'as an investment', and live off the remaining interest.
(also cars, travel, etc.)- Buy a modest inner city house with yard
- Buy a decent but not expensive looking car
- Keep my job, but work 1-2 days a week
- Go on a nice yearly business class trip to somewhere first world (Japan, Europe, maybe visit China). I have no interest in visiting Africa.
- Invest so I have an annual supplementary income of $300K/year.
If I won 80M:
- I would quit my job - I would never work again.
- I would tell close friends/family only.
- Invest a large sum of the winnings.
- Give some to close family/friends.
- Give nobody else anything. None to charity.
- Build Massive House on 100+ acres or possibly a private island.
- Buy Several holiday houses in Australia and overseas.
- Buy a Helicopter.
- Buy several cars.
- Buy a yacht.
- Spend my life doing whatever I want and enjoying the happiness the money has given me.
- After I die - pass money/assets on to children/decedents so they too can live a life of luxury and not have to work.
I keep reading here that people want to give money they win to friends and family.
Isnt that common mistake that people make with their riches? It wont make your friends or family happy for very long. and if you can give it once, theres the automatic presumption that you can give it again.
Amassing that amount of money through a win, despite the chances, would require a lot of learning before the spend. for example, michael carroll. Not in the wikipedia, but i read he claimed to have sex with ~71 different people over a 3 day drug and alcohol binge, all paid with his winnings. Havent seen that goal here yet.
Would you take the prize money in the full amount? or get paid out over X number of years?
Isnt that common mistake that people make with their riches? It wont make your friends or family happy for very long. and if you can give it once, theres the automatic presumption that you can give it again.
Yup - even worse, you'll cause the same kinds of problems that donating clothing to Africa causes (it kills their domestic industry because no one can compete with free), in that they'll lose motivation to earn income in the short-term, without it being long-term sustainable like the actual lotto winner themselves.
Wifey and I have a plan,
Don't tell anyone
Chuck it all into a managed trust paying out 4 percent per year.
Say we are starting our own business and hire a wework space.
Go to "work" everyday and do whatever we want.
Get bored and actually start a real business.
Go to the casino put it all on black and win money money??
or go back to work when you lose.
easy!
Purchased a ticket online.
come on:
01,02,03,04,05,06,07,08.
28,29,30,31,32,33,34,35.
Definition of a sucker. Bought a lotto ticket and paid for it online so paid a cash advance fee.
Did ya know Debit MasterCard/Visa or Bank Account linked to PayPal avoids any cash advance?
Definition of a sucker. Doesn't know that and buys lotto tickets in person ;)
(or buys lotto ticket at all)
Best way to buy is online because you cant loose the ticket - imagine winning then losing the ticket!! it has happened!
if you use a debit card you don't get the fee, only CC get the fee.
People are more likely to die in a car crash when going to buy a lottery ticket than they are at actually winning the lottery.
Why take the chance?
I will buy Malcolm Turnbull
Jackpotted to $100million.
100 Million Dollars WOW!!!
That is not only enough money to change your life but your whole families and every generation after!!!
The hardest part would be keeping vultures off you! I reckon every single person you even remotely know will be hounding you for cash!
Definitely give a generous portion to the farmers!
There is a joke about that. They ask the farmer what he is going to do with his Jackpot winnings and he says - "keep on farming until it is all gone". They do it tough and we need a better distribution method so more money goes back to the farmers.
I would put it all on black.
I wish someone would win it- this is costing me money. I only buy tickets when it gets to 50 million in Oz Lotto or Powerball which is rarely but I've had to buy 5 I think, losing count, losing tickets in the last few weeks.
Not tell everyone.
Buy a house with race track, and buy some cars to race.
Keep my day job.. maybe buy or invest in some IT companies that i like. e.g. ozbargain.
Maybe buy a soccer team so i can play fantasy soccer in real life. *** might not work with the 'not tell everyone'
prob setup a trust that donates earnigns to charity as well.
Wining the lotto can be dangerous business, most people end up blowing it all, dead or in gaol - Maybe not, but it's a strong possibility. To start with I'd set aside around 50% somewhere that I couldn't touch it, however could receive dividends over time which offers a safety net in case I do get a little silly.
I wouldn't quit working but I would quit my current job. It's only reasonable to offer them a reasonable amount of time to find a replacement before I'm out the door. With all that money I could find something I was truly passionate about, Computers or Cars, I'd probably study Computer Programing or Mechanical Engineering, hell even learning to be a mechanic would be cool.
One would go insane without anything to do and I couldn't spend all my potentially newfound spare time playing video games and tinkering with all the cars. Without some kind of structure you'd get bored and then it'd be too easy spending it on gambling, drinking and hookers.
I'd pay off my current loan, then in a few years buy a slightly bigger house in a pre-established area without going overboard. It'd have to have room for a Dodge Hellcat, Z28 Camaro and a 2018 R1 and my daily. I'd probably only tell my closest friends and immediate family with strict instructions that they aren't to tell anyone else. I'd probably give those same friends enough to enrich their lives, and my parents a few million. My sisters mortgage would get paid off, and I'd give her a million or two and then setup a trust for her family. The accepted story would be that I'd found one of my old USB's containing a small fortune of bitcoins which I just happened to have forgotten about.
This would (hopefully) allow me to fly under the radar. Once you give one person a handout, everyone wants one, and then when someone doesn't get one suddenly "you're" the (profanity).
I would invest in educating myself.
Have to think differently as a millionaire (Ur Derr).
Otherwise the money will be all be gone before I realise it.
The lottery is natures tax on people who can't do maths. But seriously I'd but a nice family home, keep my job (I love my job but I might be in the minority) and give the rest away to charity.
That is very barefoot investor of you
It is actually a 'tax on the poor' because rich people (generally) dont play because statically it IS a bad investment however there is value in the idea of a dream.
Though i agree playing every week is a colossal waste of money i am guilty of buying a few lines when the jackpot passes 20million simply because the idea of winning (regardless of how unlikely) actually gives me a thrill. I can only speak personally but the idea of being debt free (including immediate family being debt free), owning a beach side property, travelling for a year and honestly the most exciting thing for me would be BUYING a Brand NEW (Very unOzB of me) Merc AMG with all the extras FROM THE DEALERSHIP excites me - (no i wouldn't waste money on a Ferrari that's how you end up broke).
So yes is statically highly likely that it is a waste of money but i do know people who have won and NOT GONE BANKRUPT but actually set themselves up and their family for generations with the money I guess the idea of not having to worry about money is why i play.
And even if i did blow it all in 5 years it would be a ripper 5 years!
Funny, but invalid.
Projective Planes (Fano) in roll down lottery systems have already proven successful.
That stated, someone attempting to utilise Mathematics to win the lottery would not play Powerball.
Rather, they would play the lottery that offer best odds with the highest returns.
Perhaps the Euro Million (lottoland)?
Charity, wow. What a waste.
I'd moved to another city and start again. Maybe start a foundation for something arts related.
Who would I tell? No one. If they push they I'd say a rich distant uncle died.
1st I'd wear some new undies.
I don't think I'd wanna tell anybody about that specialy the missus let it be a surprise.Buy a hotel, blow the doors off it, refurb it to a reasonable standard. Start up a charity where people could donate to help 'pay' for rooms you'd donate to people who need a holiday. Carers, war vet's, emergency services, recovering from a hospital operation etc etc etc. Still run it primarily as a hotel with the idea of renting to ordinary holidaymakers but the donated rooms would be a bit of cream off the top allowing you to run the place at pretty much full capacity 24/7
If I won lotto ~ I'd do an AMA on OzBargain
I will visit OzBargain even more often to get the best value out of the cash.
Is that $70 mil before or after tax? Assuming 50% tax+lump sum discount and you get $35 million clear:
- Before I spend a cent, hire a lawyer, financial advisor and accountant. Immediately.
- Don't tell a soul. Don't buy a thing (right away anyway).
- Buy a house somewhere for me to live in : $2 mil should do it, even in Sydney.
- Nice things/renos for said house: $500,000
- Buy nice things: $500,000
- Take nice vacations: $500,000
- Fun money: $1.5 million (maybe a condo in Honolulu)
- Treat family and friends: $2 million
- The rest goes into a diversified portfolio of investments earning around 4% a year consistently. Use that money to fund nice things and nice vacations.
- For god's sakes, DO NOT QUIT MY JOB.
Essentially based on $35 million net: treat myself with $5 million, treat family and friends with $2 million, invest the rest. Don't touch the principal. Ever.
No tax on aussie lottos. its would've been 70million <FULL STOP>
the sharks could have angry stinging bees coming from its mouth too.