Posted on 10/22/2018 10:32:35 AM PDT by LibWhacker
One in 300 million. The odds aren’t great, but your chances of winning the massive Mega Millions lottery are as good as the next person. The current jackpot is estimated to be more than $1.6 billion. That is 1,600 million for those who are used to seeing smaller prizes. According to the USA Mega lottery website, the lucky winner will take home approximately $687 million after taxes if he or she opts for the cash option -- life-changing wealth by any standard. It's fun just dreaming how would you spend or invest the money if you won. The opportunities would be endless. Well, almost.
You still couldn’t buy an NFL team or an NBA franchise. Those are reserved for the multi-billionaires, not somebody who has a mere $687 million. Nonetheless, you could still afford most of life’s extravagances. Once you have shared the wealth with family members and your favorite charities, you would eventually have to get down to the business of investing your windfall. Don’t worry; there would be plenty advisors knocking at your door with all sorts of ideas. Help is only a 1% fee away, after all. But if you are more of DIY investor (which most likely would change with $687 million to your name), here are a few suggestions to get you started.
(Excerpt) Read more at forbes.com ...
I’ve been following the news for about 60 years. I’m not sure, but Americans must’ve flushed the toilet several trillion times in those 60 years, and I’ve never once heard of a toilet backing up and spitting out $1.6 billion in return. So, no. You’re wrong.
Lottery tickets cost $2. Add $1 for the multiplier.
$2.1 billion, according to Google.
If I’m that lucky, I would buy another ticket.
The best advice is go to Bessemer Trust in New York and let them handle everything, they have been in business well over 100 years.
No, the article does mention you couldn’t afford an NFL or NBA franchise. Those are reserved for multibillionaires, not mere paupers like the winner of this jackpot will be. Wait, did you say the Chiefs?...
That’s why you set up a Trust or Corporate structure and that entity signs the ticket.
If you have productive plans for doing more than giving $25M/yr to charity and spending more than $12M/yr. for yourself, you need an eternal life check.
I would go to four separate Investment Banker / Trustees. I would have them monitored by a Trust Attorney paid by the year and after five years the Trustee with the poorest communication and security performance would be replaced after joint evaluation with the Trust Attorney. Each would be charged with diversification of investments so that no more that 2.5% of their money managed was in any one stock, RET or other vehicle.
That’s the way we did it on a pension fund I sat on the board for for five years.
reed13k wrote: “The last time Powerball got up close to this number, someone ran the calculations and determined that someone would have to have all the ticket machines in a state...”
May have been powerball, may not, but about 15 years ago a group decided the pot was large enough and tried to buy every number. Paid people to buy tickets. Ran into issues with malfunctioning machines, etc, so they didn’t buy all the numbers. Still, they bought enough and won the jackpot. Made somewhat of a profit since they did have to split the pot. Forgot all the details but there were steps taken to prevent a recurrence.
ExNewsExSpook wrote: “If I win, maybe I’d take a page out of Bill Murray’s playbook....”
Someone, somewhere will find your true number and post it on the internet.
I think the chances of a misprinted ticket is greater than 0 and if the machine doesn’t print the numbers you selected, you have to catch it at the time of sale.
And there is the risk of multiple winners. But you get to offset your win against $600M spent on tickets (with a guaranteed win). Cash out right now is like $960. Split two ways (2 winners with separate tickets) would mean $480 each.
The higher it climbs, the better the return.
I don’t know how many tickets a machine can print in a day. Ink. Paper. Etc. you need multiple buyers at multiple locations over multiple days to begin to be able to produce all of the necessary tickets.
If one player kicked $600M into the current jackpot this drawing, it would raise the total payout substantially.
He never felt the bullets hitting him.
Not even the shotgun at the end.
Imho.
5.56mm
ExNewsExSpook wrote: “I remember that call. The advice from that lottery official was sound. When you go to claim that gigantic prize, have your plan in place, and that includes bags packed and somewhere else to go. At least that gives you a head start on the mob.”
There used to be a columnist for a chicago newpaper, IIRC, Mike Ryoko, now deceased, who wrote two wonderful columns on lotteries.
Once he got a list of the last 20 winners of the Illinois lottery which was the biggie back then. All of these winners had stated an intention to return to work. He was able to contact about fifteen of their employers. Only one had returned to work. Took all of us co-workers out to lunch. They hadn’t seen him since.
The other column was a take off on that piece where he wrote about what he would do if he won the lottery. First he said he would never win since he didn’t have a sister in california. Seems like a very large number of winners said they would take two weeks off and visit their sister in California and then return to work. The column was a long letter to all his friends, relatives, and neighbors telling them not to contact him. His words to his wife were typical: “Get a lawyer. I have.” He ended the letter by saying his intent was to buy a yacht and stock it with bikni clad bimbos and sail away to Bimini.
Odds of 1 in 300,000,000? That’s toilet fodder.
Husband comes home one day and tells his wife, “Remember when you said that if I win the lotto you’ll take half and leave?”. “Yes”, replies the wife. The husband hands her $50 and says “See ya.”
Not after that.
Who are those wholesome ladies?
Invest in blondes, brunettes, redheads
#4 Those 50 women are pretty
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