I have a finance guy who is currently helping me with a modest inheritance from my mother.
My wife’s uncle is a pretty high powered lawyer. Either him or someone from his law firm should be able to help that aspect.
My current accountant isn’t up to the task of something that big so I’ll have to look into that.
My wife and I have modest dreams. I think we’ll be fine. Send it my way.
Nice!
FDIC insurance only covers $250,000.00 per depositor per bank. So if you want it protected, you need to split it up between 4,000 banks. (If you take the cash option, it will be about half of the advertised prize. Taxes will take about half of that. So you may only need 1,000 banks. If you take it as a 25-year annuity, you may only need 80 banks. Per year.)
Make sure the taxes get paid. States that don’t tax personal income, often do tax gambling winnings.
Might as well go all out and request payment by cow:
This is actually the best thing I have heard about lottery winners since I read an article many years ago celebrating the 50th anniversary of the first lotto. The article was of course full of stories of people screwing up. Back in the beginning I believe the payout was somewhere around $1M or $50k a year for 20 years.
The stories were crazy. One guy showed up to collect his winnings with his wife… and mistress. One guy’s house got robbed the next night. He hadn’t even gotten the money yet but people assumed.
Also there were tales of family members being threatened with violence if they didn’t pay off debts. Those “debts” turned out to be fabrications setup by said family members and the people claiming to be owed the money who were in cahoots.
The New York Times recently had an article claiming that you should actually take the annuity instead of the cash payout. I am not sure I would go that route but there you go.
I’m glad I’m not too late, I thought this might be a “need answer fast” because we were in the middle of the draw and you had matched the first 4 numbers drawn.
Can I play from abroad?
When (not if) I win, everyone here tell Mrs Cad the jackpot was only $100.
I would be a good person to contact about this as I am good friends with the former Finance Minister of Nigeria and I know he would have excellent suggestions for you.
Well, I will take your offer of a Buc-ee’s gift certificate for some advice. I will need to wait to use it as it looks like the nearest Buc-ees to me is in Springfield MO, about 7 hours away but is under construction, opening soon apparently.
Move. Move to a rinky dink 1 bedroom apartment in the poor side of town with only a PO Box for a mailing address so nobody bothers you and solicits you for money and your neighbors will have no idea how rich you are.
But hey, with your kind of money make sure you tip the local waitstaff and bartenders well.
@Mean_Mr.Mustard I’m thinking of entering, but that would reduce your chances of winning. Out of consideration for your chances, I’m willing to compromise - if you send me $1, I will refrain from entering.
We don’t have a Buc-ees here in Hawai’i, so now that I have replied, when you send me the certificate can you throw in airfare, car rental, and hotel costs for a trip to some place that has one? Thanks!
I have nothing more to add to the fine advice already presented, but my wife has always wanted to visit Buc-ee’s. I will hand the gift certificate to her and wish her a safe journey to Texas.
Thanks in advance.
A post on Reddit often linked approvingly on this question. YMMV.
https://www.reddit.com/r/AskReddit/comments/24vo34/comment/chb38xf/
You might not want to use the washroom while you are there.
Son of Buc-ee’s co-founder secretly recorded people in dad’s bathroom, Texas reports say (yahoo.com)
You load up the truck and move to Beverly
Hills that is.
Swimming pools
Movie stars
Step one: sign your ticket.
Schrödinger’s lottery ticket………for the next few days you are neither rich or poor.
If I win, there’s not a lot I’d want for myself. I’d buy a house with an outdoor pool and hot tub in a location to be determined that’s warm year round, and I’d hire a part time housekeeper and part time cook.
I’m jaded, but having worked for ultra-rich people for so many years, there’s so much I wouldn’t want. It’s hard managing a lot of stuff and you have no freaking privacy……you have a house full of workers all the time, and there are people tracking all your comings and goings.
So after I buy myself those modest perks, I’d give the rest away.
I’d like to sponsor a nice food bank, one that’s set up like a grocery store, and I’d also like to sponsor some sort of transitional housing and support for young people that have aged out of foster care or were kicked out of their homes at 18.
I didn’t buy a ticket this time, but I do buy one on occasion. It gives me a couple of days to indulge in my altruistic fantasies.
I haven’t bought a ticket in years, but good luck to you!
Back when I was on an awwwwwful project at work (I’m retired now), a coworker and I would go to the nearby mall for lunch twice a week…and each bought a lottery ticket. It helped a smidge to get through the agony.
What can I buy at Buc-ee’s?