You'd spend a large amount in gift taxes that way...

Yeah, didn't think of that really. Not that it's an issue I'll ever need to spend much more time on than in this very thread.

Hiring a financial adviser should help with that somewhat. I'm sure there are ways around it.

Hope you have to worry about it some day. Be a good problem to have... If you do, hire someone expert at keeping every penny possible away from the feds. Those bastards will come after it hard.

Absolutely, hire the best. Gift tax is a bitch if you just give straight cash.

I'd buy a brewery. Drink what I could and sell the rest.

tell no one except family and close friends
financial advisor / money manager
Retain lawyer - ongoing
take care of family
build decent home on some acreage
buy big ass RV/Bus - drive the country while house is being built

1. Hire lawyer / financial advisor
2. Take bulk cash payment
3. Probably quit my job...maybe not right away though
4. Set up some sort of trust for family members (with me not in charge)
5. Give a good portion to church/charity
6. Buy an abandoned missile silo complex and do a bad@ss renovation
7. Buy lots of acreage in various locations (Idaho, Montana, Wyoming, etc)
8. Live life...travel, learn new things, take up new hobbies

That's why you pick a family member to split the ticket with before claiming it.

Like you hear how a group of people won together

If it was a big amount won then i would probably say my father and sister won the lottery with me. Save gifting tax issues later by splitting the initial prize.

Then i know my immediate family is taken care of and don't tell anyone else.

The plan is a lot different now that I have young kids versus when I was single.

Hire a financial advisor.
Put a big chunk into an investment where I could live off the interest if I needed to.
Give some money to immediate family and a couple of close friends.
I'd probably quit my current job but find something to invest my time in during the times that the kids are in school. I'd make sure that it was something that would allow me to be able to drop the kids off and pick them up each day.
Summer time would be family vacation time. Take them to different places around the world so that they experience as much as they can.
Put away money so that they are taken care of for college.

That sounds reasonable though i have zero knowledge of lottery law.

I imagine you could also give people different % of the winning.

ie We went in together to buy lottery tickets but person A contributed more money so they get 50% of winnings, person A only gave 2 bucks so they get 20% of the winning etc

How are they going to know who put in money to buy the tickets?

200 million dollar winnings

I get 100 million
sister gets 50 million
father gets 50 million

:shrug:

They don't pay any taxes on the winnings if you won the lottery in Canada.

No taxes in Canada. ..bad ass.

You could also consider enrolling in grammar school

LMAO

Though if he won 300 mil he could tell everyone 2 gaugh skrew themsevez.
Or have his body gaurd do it for him...

See how much money it would take for my family to be tax exempt for life

I would consider buying 10,000 acres of land, but I'd buy it one acre wide and 10,000 acres long. That way I could go for long treks on my property, but I could also turn left or right and find a Dairy Queen within ten minutes.

Peanut, how your mind works is God's own private mystery/Wild at Heart

I would eat until i got fat.

Wait.. did I win the lottery?

That's going to cost you a TON of money.

In this scenario, I have a ton of money. It's kismet.

If Bad Guy won

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You need to win this month Bad Guy to keep it under 10K.

LOL.


I think I won too. I'm rich!

Think of how many parcel owners you're going to have to buy out. All it takes is a couple to give you the middle finger and your plans are ruined.

In those cases, I buy the parcels to their left and right, go around them in a loop, and then starve them out. Berlin Airlift for you, Mr. Holdout.

LMAO

LMAO

It's one thing to gift money to your loved ones, but wouldn't buying them a $300k house in your name and paying the taxes on it be just as good? Then if they ever piss you off...

Or give them a $5k/month credit card in your name. That would take care of them just fine.

Beautiful

1. Buy the Chiefs
2. Cut Everyone
3. Draft a QB
4. Size my rings

Two chicks at the same time, man. /Lawrence

At one acre wide and 10,000 acres long, I could probably have a walking trail from Denver to Jackson Hole. That would be pretty cool.

Or maybe I'd go southwest and do my trail to the Four Corners. Decisions, decisions.

I've always lived pretty modestly, materialistically speaking, so I don't think that would change much.

I'd buy a nice house in a good neighborhood but not go overboard. I'm thinking something like 4 or 5 bedrooms and a decent sized yard. I'd upgrade from the ol' 03 Camry to something newer but not necessarily extravagant. Probably something in the $30,000-60,000 range.

My main concern would be to begin traveling. I'm 24 and have never left America. Shit, I haven't even seen all that America has to offer!

In this scenario money would be no object so I'd hit up the Caribbean, Brazil, Western Europe, Japan, Australia, South Africa and Hawaii over time.

Other than that, I'd probably go back to school and obtain my Masters. There wouldn't be a need to work but ideally I'd like to pick up a hobby that I could parlay into an income.

Also, I'm on the fence about having kids at this point, but if I won the lottery I'd have a few for sure.

Giving single mothers their start is a high calling indeed...

I'm the next D. B. Cooper.

New name, new addy, new city...

I'd also probably buy that pleistocene cave bear skeleton that I saw in the antique store.

Don't sweat that shit, I was 26 the first time I went to Europe. Once you get past buying a plane ticket it's pretty easy to figure out how to do things on the cheap over there.

Hell if I won the lottery I'd probably put on a backpack and stay at the same type of places I stay at now when I travel overseas. I'd only splurge every once in a while when I needed a break from the hostels.

I'd buy a midget.

Just one? I'd get enouogh to carry me around like an Egyptian pharaoh,

Wife would want half and divorce me, not my choice. I would move on, set up my son and his future generations, help random people struggling through life and smile, die poor and happy.

If I won enough, one of these would be my permanent home no lie...

http://orsosisland.com/

I can only imagine what the shipping charge is on those island houses. Jeebus I bet those things cost a pretty penny.

Oh, my. I want one of those.

If I won the lotto I would rush the court at Bramlage. I'd still have all my money as well. Ultimate win.

Gold plate my guns.

I'll report back after I win Powerball on Wednesday.

do what the 1% does, start a trust that names yourself as the sole beneficiary. you can keep complete anonymity that way.

Throw a massive party in Vegas. Go on 2 week bender.

as Ron White would say if he ever got a ton of money (part of his act of course, but you get the idea) "You'll know if I came into money, because you'd never see my fat ass again"

that's pretty much me.

Start a tread on ChiefsPlanet about it so I could take advice on what to do with millions of dollars from sage CP posters.

Later, reject ALL dumb**** ideas, change name, dump money in Cayman accounts, move to the Caribbean.

Completely self sufficient as well... solar and wind power, water desalinization, water heat transference for heating, cold storage for garbage and two diesel engines just in case.

Honestly, 6.5 mill seems pretty damn reasonable, its a lot cheaper than a super yacht.

ooooh. Yeah, I forgot about yachts. I'd like to have one and park it somewhere bad ass.

or, get a cool house boat thing in Seattle.

I love the look of those boats that actually look like a house, but they just don't seem very practical for scooting around to remote coves for a weekend stay or whatever... they all look like they're gonna tip over with the first small wave.

But yeah, my dream is to live on a boat year round, I was pricing some used ones last night and 50-70 will get you a VERY nice houseboat.