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Mega Millions.. What would you do with $330,000,000?

Discussion in 'Off Topic' started by Double 0, Jan 4, 2011.

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  1. Double 0

    Double 0 Notebook Guru

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    So I will be playing Mega Millions lottery tonight which would be worth 330 mill if you win (more like low 200 mill after taxes)

    But lets say you had 330 million to blow.. what would you do with it?

    I would invest 200 million in Apple stock and I would divide about 20 mill throughout tha family and just blow the rest
     
  2. JM

    JM Mr. Misanthrope NBR Reviewer

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    Plunging $200m into just one stock is a bad idea, even in a company as well off as Apple.



    I'd breakup the fund and have them invested with my existing private banking accounts at Citi, U.S. Bank, Merrill Lynch-Bank of America, and Wells Fargo. Add them to my already invested assets.

    I'd also keep $15m or so liquid to buy homes in various places. Oh, and donate a fair chunk to the Republican National Committee.
     
  3. moral hazard

    moral hazard Notebook Nobel Laureate

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    Why?

    I would create several portfolios, invest in a lot of things, so that there won’t be a chance to lose it all in one hit.
     
  4. Double 0

    Double 0 Notebook Guru

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    Well I was just talking junk.. I know nothing about buying stock (Yet) but figured I would invest some into apple.. not sure if its true yet but it's worth 300 billion

    This sounds logical lol
     
  5. tianxia

    tianxia kitty!!!

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    keep 5mil. donate the rest.
    edit: to various nogs and charities.
     
  6. ViciousXUSMC

    ViciousXUSMC Master Viking NBR Reviewer

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    Id buy my own island :D and have them put OC3 fiber optic internet cable under water for it.

    J/K

    I dont know what I would do in the grand scheme of things, probably not worry about having so much money and just do the few things I would do now if I had the money.

    Get a new laptop, build a new computer, get a house, a new car and go to college.

    Of course some smaller stuff in there like better food and some new cloths, but thats really it.

    Lots of rich people go bankrupt, especially lotto winners because they invest the money in the wrong ways or try to get life styles they can not afford.

    You win 1 million today and buy a house worth 200k tomorrow, a couple of exotic cars, go out to eat and party almost every day and the before you know it, your money runs out and you have no way to afford the stuff you purchased and end up worse off than you were before you won any money.
     
  7. JM

    JM Mr. Misanthrope NBR Reviewer

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    And? Citigroup and Bank of America were as well, at one point. Market capitalization isn't the main way one ranks a company. ;)
     
  8. Johnny T

    Johnny T Forum Moderator Super Moderator

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    1. Worry about about tax I'll have to pay.
    2. Think about how to keep the fact that I just won a crap load of money to a selected few I can trust.
    3. Ensure parents will be able to live comfortably, aid friends who might be in need.
    4. Invest wisely.
    5. Buy a new coffee machine.

    :D The rest are just details.
     
  9. kbs

    kbs Notebook Consultant

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    would you get it annutitized or cash value? because with the cash value you only get like 1/2 if you win.
     
  10. MGS2392

    MGS2392 NAND Cat!

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    Well I would buy 330,000,000 things off of the McDonald's dollar menu. Because I can.

    In reality, I'd do a 50-50 split for charity and me. With my share, I'll get a modest house (1 million to 2, at the very most), a nice collection of Subarus (a Forester STi if I can import, a WRX STi, and a Legacy GT Spec.B), make sure my parents are comfortable, and get a few other odds and ends. And save up the rest, because it'd be stupid to blow it all at once.
     
  11. usapatriot

    usapatriot Notebook Nobel Laureate

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    1. Acquire said money in lump-sum form.
    2. Hire a good financial adviser.
    3. Move out to a nice apartment downtown.
    4. Buy a Porsche 911 Turbo S.
    5. Invest, invest, invest.
    6. Give some money to family members.
     
  12. Nick

    Nick Mr.Mischief

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    I'm just posting here in hopes that you win the money and give everyone who posted on your thread a cut:D
     
  13. DexterMorgan

    DexterMorgan Notebook Deity

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    With a large chuck of the money, maybe almost all, I would open a non-profit organisation that would research new pharmaceuticals, and verify the claims of existing ones. The direction would be directed such that it would benifit the society in general, but it might not lead to a boatload of money for the organisation.

    Why? Because for-profit orgs lie and twist data so that they can make boatloads of money.

    On of my goals would be to "shift" billions in stock value from unethical companies to more ethical ones due to the real facts discovered by the said non-profit org.
     
  14. Blake

    Blake NBR Reviewer NBR Reviewer

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    I think about questions like these every time I see a lottery billboard.

    I'd pay off all existing liabilities (under $100k), put about $5-$10k into my Ram for customization, buy my wife a new vehicle, and get us a new house. I'd also buy my parents a house and a new car. Then I'd get a good personal trainer, get back into beach shape, and take the whole family on a month long vacation. That leaves me with about $329million. I'd invest the rest with myself (I'm investment licensed) and distribute it throughout various funds I've already got set up, and live off of interest for the rest of my life. With all of my free time, I'd start a non profit orginization that lends money to those with community driven ideas.
     
  15. turqoisegirl08

    turqoisegirl08 Notebook Evangelist

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    I'd still finish my schooling. Travel. Hook up people who have helped me through thick and thin. Buy my parents a house and a nice work truck for hauling wood and doing livestock-related business. Buy more cattle, chickens, roosters, goats, lambs, and such. My dad is getting older, is retired, and does not like sitting still at home. Tending to the livestock, I think, would be good for him :)

    I'd also take the family on vacation also!

    Don't want to be a total miser so I'd help out the homeless and sick children somehow for sure! I've worked with both groups before so it is part of my life and I feel strongly about them.
     
  16. Astrogiblet

    Astrogiblet Notebook Evangelist

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    I read a statistic somewhere that said 80% of lottery winners regret winning. I tried Googling for it but I can't find it anywhere so it may not be true, but it seems like its right.

    -Dealing with taxes/the government wanting their cut
    -Dealing with friends and family members begging which leads to relationships being broken or torn apart
    -Dealing with jealousy
    -Dealing with the potential for criminals
    -Dealing with the stress of managing your money and constantly worrying about losing it and what would happen
     
  17. TofuTurkey

    TofuTurkey Married a Champagne Mango

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    That's why I wouldn't tell anyone about it, and I wouldn't live my life any different than the way it is now. There are pros and cons of being poor, and of being rich.
     
  18. Astrogiblet

    Astrogiblet Notebook Evangelist

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    I'm not sure its possible to "not tell anyone". Local news would probably have your name the instant you won and have it on TV news and in the newspaper.
     
  19. usapatriot

    usapatriot Notebook Nobel Laureate

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    Family members and friends shouldn't become alienated from you just because they feel as if they deserve some of the money you won. If they were true family and friends they wouldn't care whether you won or not.

    But yeah, no one has to know how much money you won and you don't have to make any immediate drastic changes that would attract attention. Gradual change would work better.
     
  20. HTWingNut

    HTWingNut Brain size of a planet...

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    Well, lump sum is $208M, 35% federal tax + state tax if applicable, in my case 4.35%, so that's about $126M.

    I've gone through this scenario in my head a billion times, and I'd have several safe investments (i.e CD's) I'd have to really screw up to lose money. After taking care of family and close friends I'd end up with maybe $100M. I'd have maybe $15M for each of my two boys spread across multiple annuities @ ~5% for fifteen years so as to double it by then. I'd have to leave about $2M just to blow on a new house, airplane (just a small dual turbo prop four seater), and boat. Then I'd set myself up with maybe $10M in an account to pay myself a salary over the course of 15 years, while I let the rest sit in multiple stocks and investments. Plus I'd have maybe $1M emergency reserves in case I blew all my salary money.

    You'd have to set up several investment accounts that you couldn't really touch without significant penalty before a certain amount of time, that way you'd be guaranteed not to buy yourself into misery. Plus it'd be a good excuse for other money grubbing people that come out of the woodwork to tell them your investments are tied up and can't touch them for another ten years.

    I'd also pay two firms a decent sum of money to watch my accounts, each without the other one knowing I have another firm also watching the accounts just to keep things in check, and would probably rotate those firms on a regular basis. With that much money you can't trust anyone.
     
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