I won $4.
You need some help with that? My fee is reasonable.
Well the bad news is “I didn’t win”. The good news is “yet”. Hope (and ticket sales) springs eternal. 
Well, once you’ve hired me as your financial manager, you’ll be fine! 
Okay, seriously; engage a reputable firm for financial and legal management BEFORE you declare yourself. Keep in mind that you will suddenly have hundreds of new “friends” and “financial advisors” whose sole goal is to get as much of your money as they can. Ignore them. Everything should go through your management team. Your current mobile phone will become your junk phone. Get a new phone that will be used solely for private purposes. I’m thinking that, depending on where you live, you might want to move. Security will become a high priority because, as a rich, publicly known person, you become a bigger target for criminals of all kinds.
I actually wouldn’t want to win that thing, so I never buy tickets. I’d rather win a few million in a lesser and much lower profile lottery. You’re flying under the radar, then, for the most part.
Heh, the biggest law firm in our town does mostly DUI defense and simple wills.
OK, this is weird.
I just checked my two tickets for last night’s drawing, unaware whether anyone had won the jackpot.
As I began to compare numbers, a part of me consciously hoped that I would not match all the numbers (as if that would actually happen 
), because of all the drama that would go along with it.
This is the first time I’ve ever felt like that.
mmm
Hard to imagine there is such a thing as “too much of a good thing”. But there just might be.
Still and all, it’s an experiment I’d like to have the chance to run.
I think it’s not so much hiring a lawyer as you need to hire a financial advisor who specializes in “ultra high net worth” customers (people with like $30 million or more) or actual billionaires. Pretty much any major bank (Wells Fargo, Bank of America, Citi, etc) offers those “wealth management” services. I assume you just call them up and tell them what you want.
The lawyer would be more for dealing with nuisance law suits, real estate deals and other business transactions. Also maybe bailing you out of jail after an all night coke and hooker binge.
Your main priority at first will probably be to have them minimize your tax burden and create an estate plan.
At some point you probably want to figure out what to do with $1.4 billion instead of just depositing it into 4000 or so FDIC insured bank accounts. (a billion is a lot of money)
In fact, you’ll probably need to establish a “family office”, which is essentially a dedicated accounting / investment / legal firm that super wealth families establish just to deal with their finances.
Then I suppose you need to figure out all your life upgrades - new house, cars, clothes, Hamptons house (or equivalent to wherever you prefer to “summer”), ski house, schools for the kids, helicopter, boat.
Sadly, I fear I am doomed to struggle for the rest of my life being merely “mass affluent” / “high net worth”.
The reason nobody won the big jackpot is because I didn’t buy my ticket. But don’t worry, I’ve got one for the next draw.
Blinks flirtatiously at carnut.
Ok, ok, I’ll stop. I did not get a single number from yesterday. I never do.
I got mine. Ticket that is. Sorry folks; it’s game over for all y’all.
An interesting side question is about the Powerball administration itself. It was designed to be reasonably graft- and cheat-proof. Back when a big jackpot was a couple million. This is 500-1000 (!) times as much money. Yes, they did not get to this scale overnight, and have doubtless been continuously shoring up their defenses over time. I hope.
But the attentions of professional baddies are more than proportional to the money at stake. A baddie group could pay somebody in the right place “Retire instantly to an un-extraditable Caribbean island for life” money and still have 99% (!!!) of the winnings for themselves. Whole lotta leverage there.
Which if course is why all serious grafters end up suborning governments; the money to be stolen from that one place dwarfs that of the private sector.
It’s been done.
In 1980, Pittsburgh’s own Nick Perry rigged the daily number. Of course he chose 666.
I’ve put a lot of thought into these suggestions for you:
- Remember your friends here.
That’s all I have so far, but if I think of more I’ll add to the list.
When buying tickets, I have gotten a lot of marriage proposals.
Sadly, they were all contingent on winning the jackpot.
It seems that marital status jokes and lotteries go together for some reason. The single want to get married and the married want to get single.
I had meant to ask you when this post was fresh …
That’s stated pretty unequivocally. I’m certainly guilty of stating my opinion as if it was a fact more often than I should. So not meaning to dig you about that.
I’m curious though, do you have any cite to share for this idea? If it’s your own idea, can you explain your thinking?
I’m not necessarily convinced you’re wrong, but I’m also not sure you’re right. Whatcha thinkin’?
What is “old”? At what age should I skip the annuity and just take the lump sum?
Eh, it probably was an oversimplification. What I was thinking was, I’ve seen a great many lottery winners blow their money when they took the lump sum (or get exploited by people who wanted it), when if they’d taken annuity instead, at least it would have limited their ability to blow money until they became wiser about management. Like a trust fund for yourself.
Of course, a wise person could take the lump sum and invest it well and maybe even outperform the annuity. But that seems pretty rare among lottery winners; most people who play the lottery, sadly, are precisely the people least-suited to handle the jackpot wisely. So the annuity seems like a good self-limiting-defense.
And, with age into account, ISTM that if one were a 75-year old lottery winner or something like that, you’re better off taking the big sum all at once and seeing your money put to best use while you’re still alive to see it - more gratification that way.
Or if you have a huge goal that can only be achieved with a huge sum of money all at once, such as founding your own start-up, you’re better off with the big chunk of cash.