OT Mega Million Jackpot now 1.6 Billion.

[Austin_Bill]

I hear the average winner is broke in ten years.

I know I can beat that, someone hold my beer.

Assuming a typical age of a HornFans poster is 30, life expectancy of 85, remaining life of 50 years +/-.

Don't even need to whip out the HP11C, the $575,087,000 divided by 50 (ignores ANY annual earnings which would be substantial), is approximately $12,000,000 per year, or $1,000,000 per month. Every month. For 50 years.

You didn't count interest.

A modest 3% interest annually would be over 17 million before Taxes and 13 million after capital gains taxes. So you still get 1 million a month and would never touch the principal.

 

[blonthang]

I noted that in "...ignores ANY annual earnings...."

Hell, with this kind of money, just open up "Austin Bill's Big Ole Bank" and be bank president, ceo, cfo, eieio, whatever you want to be.

 

[X Misn Tx]

the "average winner" is a poor, uneducated person.

if you are an educated, hard working person who had his own company and it blew up huge and then you sold it off, you'd be mark cuban, billionaire.

if you are an educated, hard working person who had his own company and it kept going along smoothly, but you won the lottery, you'd be broke in 10 years? that doesn't make sense.

before you sign that paper, you get a tax attorney and a wealth manager who's experienced with large amounts, devise your strategy...how much to blow, how much to donate upfront, trusts for the kids, a charitable foundation with rules for ongoing charity...and how much you put into investments to live off of. allow yourself some slush money in that for unique investments that have risk (like people who go to Vegas to have fun knowing what their limit is for losing and sticking to it).

then you spend the next year relaxing from the rat race we're all a part of. learn from experts how to handle wealth wisely. go to your kids events, hire full time teacher/tutor (ala the Blind Side) and spend January in the Ngorongoro Crater giving them experiences that you'll all never forget.

 

[HornDawg1957]

Texas is one of seven states where you can remain anonymous if you win. Lucky bastages.

Somebody in my town in California matched five of the six numbers on Friday. Don't know who, but the ticket is worth $3.4 million. I could live with that.

 

[BabHorn]

the "average winner" is a poor, uneducated person.

if you are an educated, hard working person who had his own company and it blew up huge and then you sold it off, you'd be mark cuban, billionaire.

if you are an educated, hard working person who had his own company and it kept going along smoothly, but you won the lottery, you'd be broke in 10 years? that doesn't make sense.

before you sign that paper, you get a tax attorney and a wealth manager who's experienced with large amounts, devise your strategy...how much to blow, how much to donate upfront, trusts for the kids, a charitable foundation with rules for ongoing charity...and how much you put into investments to live off of. allow yourself some slush money in that for unique investments that have risk (like people who go to Vegas to have fun knowing what their limit is for losing and sticking to it).

then you spend the next year relaxing from the rat race we're all a part of. learn from experts how to handle wealth wisely. go to your kids events, hire full time teacher/tutor (ala the Blind Side) and spend January in the Ngorongoro Crater giving them experiences that you'll all never forget.

This.