What would you do?

[mkw34]

Megamillions jackpot is $206 million for today's drawing. Like the title says how would you handle it?
here's my plan:
Cash option of course, Why pay max taxes for 26 years on returns that barely beat inflation?
Verify that I did win.
Hire cpa, lawyer(tax ,estate both?) and a fee-based cfp that I trust. Put $750,000 - $1 million in a separate CDARS account. that will be my Wheww! I won money initial expense money( car, house ,vacation, etc.) and to pay them. Was gonna say $500,000 but they might cost me more than I assume.
Then tell him\her to invest in bonds ,blue chip stocks etc. mostly relatively safe investments (yes risk is involved with all of them) to get ~10% returns each year using munis to keep taxes down.
Then put myself on a salary of $50,000-$100,000 a year to be put in the separate CDARS account and roll rest back in investments. Never touch principal and watch it grow.

 

[wanamingo]

Now nobody really wants to die from flesh eating bacteria, and with odds at about 1 million to 1, the chances that you will die that way are pretty slim. Then again, you are 18 to 120 times more likely to die this way than to win the lottery.

What are the chances that if you're playing with a group of four that two of you will get a hole-in-one on the exact same hole? At 17 million to 1, they're better than the chances of you winning the lottery.

What about dieing from a snake bite or bee sting? It probably isn't a way that you have imagined that you would leave the earth. You're a whopping 180 to 1,200 times more likely to die from one of these incidents than win the lottery. That's because the probability of dieing from a snake bite or bee sting is about 100,000 to 1.

Now I know that you are not a bad person and you don't imagine finding yourself on death row for a crime you committed anytime soon. Still, it's a lot more likely that you will be legally executed than win the lottery. In fact, you are 30,000% to 200,000% more likely to die in a legal execution than to win the lottery.

Or If I told you that you were 450,000 to 3,000,000 times more likely to die in an asteroid collision in the year 2029 than to win the lottery, what would you think? Well, these are in fact the odds according to this report at space.com.

 

[l0ckd0wn]

Wanmingo with the reality CHECK! 😀

 

[stillerfan15]

Aren't the odds of being struck by lightning WHILE being eaten by a shark pretty much the same as winning the lotto? But I still play. 😀
Dave

 

[Pyree]

Invest in Tom's Hardware so I have the rank of "Supreme god of the forum".

Make a sick 6x1080p 3D screen 4 way SLI/XF build of some sort and I am not just going to build it myself (I will let Tom's writer to build and benchmark it and share the fun!).

To charity (10-15%), where a foundation for the poor and the environment is established under my name, and I am the chair person.

Invest in blue chip company like HSBC.

Buy some nice car and a few nice houses.

Renovate my current house.

Repay my education debt.

Go on holidays.

Eat and drink good stuff in moderation.

Hire personal trainer (need the good health to spend the money).

 

[stillerfan15]

just gotta win the lotto
and I bought one tonite.
Dave

 

[riser]

My plan (partially true story too)

After someone else randomly wins, go to that area, find them (based on that really expensive and nice car they just bought) break into it while they're out partying and blowing their money, and steal their suitcase full of hundreds of thousands of dollars.

The guy who won in West Virginia in the late 90s or early 2000s.. record of like 350+ million.. that's what happened to him a few times.