What would you do if you won? More importantly how does one secure like 600 million after taxes? Securities? Banks? How does one go from impoverished to super wealthy without losing large sums of money due to stupid spending or bad management?
Yeah it is a stupidity tax but I think any asshole with any job in this country can buy a ticket for 2 dollars and not really worry about it. Then if you win it's a profit margin in the million percintile range. Nobody is really losing out by buying 1 ticket with no expectations.
>put money on various banks
>start withdrawing money from the banks as fast as possible
>make a huge pile of money
>like 300 million
>set that shit on fire
>put video on youtube
>tell everyone I burn all the money
>people think I am poor now
>live nicely with the money I didn't burn
>plus the money from youtube add's
The Jackpot is now 1.5B, with 930M as the cash prize. So the annuity would pay out a little over30M over 30 years. At this point you may as well take the cash, because even if you let it sit in a savings account the interest will pay more than the annuity, right?
But now say you've invested this money into many savings accounts, both foreign and domestic, and into diverse portfolios; my question is how do you secure this money in the case of a market bubble collapse. Like the current student loan bubble per say. Is the answer real estate, gold bars, how does one go from dotcom millionaire to Rothschild level security with this much money in a relatively short period of time? I see the winner being some hillbilly hick who lives a comfy life but in 2 generations his family is back to square 1.
>sign ticket get lawyer/CPA funnel money to an LLC in Wyoming etc. etc. etc.
>figure out best way to gift $1 million to 20 or so closest friends without paying the taxes on my end
Since my parents and I are agreed to split hypothetical winnings three ways, once all of the bullshit is said and done I'd have around $160 million to myself. For the time being I'd deposit 98% of that in low-risk savings accounts while waiting for the correction. The rest is walking-around money.
I'd probably buy a small house somewhere secluded as a haven against media scrutiny, assuming I couldn't protect my identity. But in the meantime I'd probably do a lot of scuba diving. I spent three weeks in Indonesia on a dive trip in 2014; I'd like to spend more of my time the same way, especially since it provides natural isolation (although I'd have to consider the possibility of being seized as a hostage at some point).
Once the market crashes I'd put most of the money in a diversified equity portfolio. Some in US treasuries, so let's say 60/20. The remainder I'd invest in meme stocks--shit like SpaceX, that I personally give a shit about succeeding.
After a couple of years, buy a new comfy home with some of the interest I've accrued. Guns, a nice car or two, all the window dressing shit. Hopefully live forever. The end.
I would buy a plantation and grow cotton, would hire a bunch of African Americans to work for me and pay them enough that I could treat them like niggers..i would entertain all my new friends that I would buy with lavish era correct parties, I would never break character and encourage others in my town to play along I would make it known that when I randomly come into town if people play along, dress and speak correct for the period I would reward them with $1,000 cash...the lord knows I don't need it
First thing is get a financial adviser. Probably David Ramsey since he lives right down the street from me. I'd like to give like 20k to that charity in India that performs caterac surgeries and literally cures blindness. I'd pay off my church's debt. I'd like to have permanent residency in Caesar's Palace in Vegas. I wonder how much that would cost? I'd bury 5 million dollars split up into 5 one million dollar briefcases at various locations in the woods in case some shit ever happens and I go bankrupt I'd still have some millions physically buried in the ground somewhere. Parents new house, car, etc. I'd pay back my friends parents on a contractual agreement that they cannot get divorced. I would not want my lottery money to go towards making them get divorced due to financial disagreements. I'd give some to my friends with contractual agreements that none of the money is to be spent on alcohol, drugs, or fornication, ever, or else the debt would be repaid with interest. Then I would marry my gf of the past 4 years and we would travel I guess. After traveling I could finally start chopping away at my imdb watchlist that's now at like +300 and start and the vidya backlog.
oh yeah, and I'd call up Frito Lay and see how much I would have to give them so they would bring back those damn 3D doritos. THose should have never been discontinued.
So is that why literally only 2 people out of the past, what, seven years have chosen the annuity option? Because you could just toss it into any old diverse stock portfolio and make more than the annuity payment?
To answer OP's question,
I would first travel to north dakota so assemble an anti government militia
i would use the other cash on advance and future weapons
i would then kidnap the president and find out a way to get the briefcase
then I would launch every single nukes america has, and causing all nuclear powers in the world to launch theirs
then I would destroy every nuke in the air, and each country would do the same which would bring about a nuclear free world
then i would launch my hidden weapon in space and destroy london and kill just a couple million, and the same in pyongyang
after that, I would tell each world leader they work for me
then I get more power than the Rothschild's assuming this all works
Put it this way. 3 million dollars in an extremely conservative portfolio (3-4% a year) would yield 90-120.
So you could literally take 1.3 billion, invest .03, have a steady income more than twice the median household income, and stil have 1.27 BILLION to fuck around with
Seriously. It's a ridiculous amount of money. Of course taxes are going to fuck you so you might only get to take home half of it, but c'mon. Even an idiot can go to the local financial group and ask them to manage that shit for them.
Do you know the actual chances of winning the powerball?
Mathematically, no one could win the lottery for ever and the powerball could balloon up to fucking trillions. How do you think it got this big in the first place? No one has won it in a record long time and mathematically speaking, no one has to win it ever.
You are completely wrong, they only would give you the 1.3 billion if you payments annually for 30 years!!
which is only like 30 million or so a year
if you take the cash straight away, it is like 800 million before taxes
800 million is still ridiculous. If taxes take half of that that's still 400 million.
Let's take ONE percent of that and invest it conservatively. 120-160 thousand a year. You still have 396 million to buy a music festival or whatever the fuck you want to do. Numbers might be wrong cuz I'm kinda drunk, but the concept is still the same.
It's why the rich get richer and the poor get poorer unless something radical happens
>It's why the rich get richer and the poor get poorer unless something radical happens
Holy shit you're drunk, go home Bernie
also, why would you not invest like 10 percent or something?
and you would definitely need to buy a portion of fort knox gold to make sure you are not affected by hyper inflation
Well my point is even an extremely small, conservative investment would yield returns that lots of people would die for. Anyone with a little bit of intelligence could invest in franchises, start-ups, or whatever and make that much more.
I was kinda serious though. Of course it's the land of the free and anyone can be the next Bill Gates but it's a lot easier to stay rich than it is to get rich simply because of the reasons I've stated already.
To answer the question, it would be this. I probably wouldn't even buy a large home or anything. I would just want to travel all the time. Might dedicate my life to music. Who knows.
Lump sum, only litteral retards wouldn't. A lottery this big would not make a difference. Think about it, even if you invested 800 million in very low risk stocks/bonds you would make way more money then slowly getting 1.3 billion. I could turn 800 million into two billion way faster than 30 years.
>Consult fee based financial advisor, CPA, Lawyer.
>Claim prize anonymously. Literally wear a balaclava and a mask over that.
>Not do press conference.
>Picture with ticket, sign it.. etc. put in safe deposit box.
>Buy nothing out of ordinary for 6 months
... After consulting financial advisors:
>Pay off mortgage
>Keep girlfriend and fake losing my job and impotence and see if she stays with me.
>If stays keep her but never reveal winnings.. just say had good work year and get her some gifts.
>If she goes I buy pussy.
>Set up LLC to purchase assets.
>Buy large dependable car or truck
>Buy house in Florida that is very expensive to keep wealth in case of financial chaos. Homestead act.
>Finish Masters degree in economics or possibly switch to computer sci/applied mathematics.
>Buy two bedroom apartment in San Francisco. Live there from September to January.
>Rent apartment in other part of world and live there for other 6 months.
>Rent apartment in part of world with language I want to speak.
> Visit all the minds I respect in academia and business. Learn from them.
>Research promising young students in the sciences. Fund them paying for all college, books and housing. With the condition that they give a portion of their future earnings to fund a student after they have established their careers.
>Only buy used SUV or Truck
>Shop at thrift stores
>Never draw attention to myself
>Realize I cannot trust anyone with this secret.
>Only tell my dog.
>Buy gold coins and bars, bury them in various locations around the world and give clues to where about.
>Fund Pro Second Amendment movement.
>Fund the mass immigration of white Christian Eastern Europeans to the USA.
>Only buy and eat organic healthy food.
>Buy guy membership to actual guy not Planet fitness or some such rubbish.
>Search for tradition value qt and start pumping out kids.
>Private tutor them and home school them
>Keep spending late nights programming
There are some women in this world who will stay with you if you are burned in a fire or paralyzed. I want one of those as a partner. There are other women who will leave you for the slightest change of fortune.
As a co worker put it, it's a dollar to imagine being rich. I say one or two tickets, even semi regularly, isn't that bad. Sure you'll never win anything, but you're really buying the chance you might win, it's entertainment.
I honestly don't know. How do you go from middle class to .01% over night? I have absolutely no idea about the first thing when it comes to managing an estate that large. I'd probably dump it all in VOO, but in doing so I'd artificially raise the value of VOO due to my absurdly large net worth or something.
always take the cash
consider how much value the money loses over a 30 year period due to inflation
unless your an idiot who doesn't have the wherewithall to hire a financial advisor at the very least, it is within your interests to take all the money at once
Hell, $2 for a few days of imagining being rich is totally better than +$10 and hangovers after drinking to forget.
If I win, I'm building a lottery bar. It will be like your classic downtown bar/club, with entertainment, shows, performances, but instead of booze on tap, people can come up to the stools and order some lotto tickets while they mingle with others
Get myself an adviser and disappear off the face of the Earth for several years.
I wouldn't know what to do with it nor how to handle the publicity it would cause.
Recognizing the odds are against me and the difference between one ticket and thousand doesn't really boost my odds up, I am just going to get one.
I know someone who has spent over $400 at several gas stations in the area on tickets.
Interesting Powerball simulator I found:
Would be interesting if they changed the numbers played every time as well as most people don't play the same numbers over and over, but it shows how much tickets can cost over time.
If I take the lump sum totaling around $750 million,I would probably start by locking $100 million into conservative investments such as bonds or bank accounts for the sake of having a safety net. From there, I would look to primarily invest in property to build wealth in lieu of riches. I'm still pretty young though, so I'd also likely put aside another $100 million or so for venture capital projects and growth markets.
When you have such an absurd amount of money, the RoI vastly outweighs the relative risk, so it only makes sense to be aggressive and creative with your funds. You strike out ten times and hit once, make back your money 10 ten fold.
In the long term I would want to establish a nonprofit dedicated to filling market demands with resources that don't depend upon making profit, substantially lowering cost. Things like transit infrastructure and affordable housing made possible because there's no need for the projects to make money, only break even.
Also I'd buy every copy of Rush Hour III on Fullscreen DVD still in circulation
Step one: Annuity. I've thought a lot about this, and since I'm not very good with money, the annuity would be the best option.
Step two: Lawyer up. Make sure he's incredibly good, on retainer, and ready to do whatever it takes to protect me.
Step three: Make an LLC, hire the single employee - a personal assistant just for me, to act as my hands, eyes, ears in everything I need.
Step 4: Accountant. Good one. Someone who can make sure me and everyone who comes after me is set for life.
Step 5: Boipussy. Lots of it. Think boiharem.
I know that hiring the trifecta of a Lawyer, CPA, and Accountant is the standard for any winning option, but how much do those three cost? Over time?
Setting up an LLC or Trust to claim the prize, what does that cost? How often will I be meeting with folks?
Remember that this is assuming you don't end up splitting the jackpot and with so many people buying tickets right now you can be pretty sure you'll be splitting it. I'm guessing four people are going to end up hitting this thing.
>there is no value
This is actually inaccurate. The odds of winning powerball is 1:292 million which is not impossible but just supremely improbable, There is a big difference between these. Let's do some ROUGH math using current statistics.
>1:292 million odds of winning powerball
>90% of drawings have no winner
>9% of drawings have 1 winner
>less than 1% of drawings have multiple winners
>70% of winnings come from quick picks
>average of 20 million tickets sold when jackpot is between 100 million to 300 million
>440 million tickets sold last drawing
>estimated 800 million tickets will be sold for this drawing
>25% federal tax on winnings
>assuming no state tax, lump sum on $1.5 billion after federal taxes is $697 million
If we assume that there is only one winner, the EV (expected value) on a ticket is roughly 38 cents after taxes, due to the jackpot being high. The odds of there being multiple winners is contingent on how many tickets are sold and participation rate. With the current ticket sales estimation and using an analysis which calculates the mean of previous winners there is about a 54% chance there will be 2 winners and a 41% chance there will be one winner. If there are 2 winners it brings the EV into negative, but you can increase odds if you choose quick pick.
To sum up: The lottery is not always a negative EV proposition. There have been occurrences in the past in smaller lotteries where people have taken advantage of positive EV and made money (google it). The Powerball could possibly be gamed if you were able to buy an unlimited number of combinations online, but is structured to not allow for this. It might be possible, however, to take advantage of huge Powerball jackpots with a large enough pool of people buying thousands of tickets each from a physical location to come up with enough combinations using the law of large numbers and positive EV that you could split enough to win more money than you put in. Maybe.
They changed the number system. They dropped the powerball from 35 to 26 but increased the regular digits from the 50's to the 60's or whatever in October/November. That alone doubled the odds, which is why no one has won in nearly 3 months. Imagine how many people were playing last week and still no one has won. This probably won't be the first streak of no wins either, it's just hyped for being the first billion.
However I don't understand why people would want to win the largest lottery in history. Only 6 states allow anonymous claims and 2/3 of people who win end up dying or bankrupt. Even if you wind up safe you're still the target of kidnapping, stalking, homicide, divorce, suing, police harassment, etc. and risk losing all your friends and loved ones over money.
That's a logical statement though. If you're rich you have the backup to take more risks for more rewards. Poor people however do have the potential to hit those numbers too though so it's not a whole muh trickle down economy scenario.
25% tax rate on 1.5b is 375m so prize pool would still be over 1b
a chop is, if my math is correct from assuming a 20% from my source, a 10% reduction in ev, so considering only these metrics, which is far easier for most people, you'd be running around 3.5 ev.
>even if she passes your autism test you still break up with her to get "traditional values qt"
hahaha look at this scumbag
newsflash...if she passes your autismal test she's a "traditional values qt"
Nobody here will win the powerball jackpot, except me, i am already a chosen one, all my six chosen number are a match for the draw coming up in ~48 hours . THIS MESSAGE IS FINAL IN THIS THREAD!
>make $13/hour at a barely full-time job
>scraping by to pay off my college bills and rent and grocery/utilities to just barely have enough for a little bit more to save into an emergency fund only $950 strong after a year of investing
>only ever been able to imagine what I would do with maybe 50k (pay off my bills, set up an emergency fund)
I can't begin to think of what I would do with nearly a billion dollars. I can't even comprehend it. I mean, I know what I wouldn't do, something stupid like buy an island or a gigantic yacht or a big pointless mansion. All my goals are just 'get a job I'd like to do/get stable enough to afford the Lego collection I wanted'. I don't know the first thing about investments or mutual funds or stocks for that matter. I'd love to win one of the smaller prizes, but all I can think of with nearly a billion is making sure I don't lose it to something stupid, and I have no idea how to make that happen.
Granted, I don't need to at this stage because right now I'm not expecting a massive windfall. If I did somehow get it I'd probably go do that instead.
>tfw sort of don't wanna buy tickets because I'm scared of the hysteria if I won
Anybody know how to be a completely anonymous winner in PA?
I kind of understand this.
It's why lottery winners almost never retain wealth.
Working for your wealth, or being born into it, leaves you with years of exposure to having money or gaining money and learning how to manage it and your circle of friends wisely.
Being broke and suddenly having a billion dollars handed to you would catch you with your pants down. You likely don't live in an area where people are used to that sort of money existing around them, and you likely don't have the security to protect your friends and family already in place. I'd have to move my relatives if I won, not that I mind, but I wouldn't want to risk there being kidnappings and all that. I'd probably apply for a new SSN and name shortly afterward as well.
You can't in PA.
They publish your first name, last initial, county you live and place you bought it from.
Mathematically, as the prize grows, so will the ROI of players and thus the amount of tickets sold. Eventually every possible permutation will be bought. In fact I believe, despite some studies saying that there's a 3% chance of nobody winning this week, that every permutation WILL be bought and there is no chance of failure
Hey, if you don't want that billion dollars I'll gladly take it off your hands for you.
Its not very probable that every single permutation will be bought considering that there are 292 million different combinations. Even though there is an estimated 800 million tickets sold you would have to assume that most of them are unique, which has a high improbability factor. It also should be noted that around 30% of people pick their numbers. The most picked combination of numbers is 7 - 14- 28 - 35 - 42 and a powerball of 49 (which goes to show that people tend to pick "lucky" or "hot" numbers which increases the likelihood of non-unique sequences). Even the quick pick is not likely to always pick unique sequences given the law of large numbers. Although it is a mathematic certainty that most combinations will be sold, it is just as mathematically certain that not every one will be sold.
>win in non-anonymous state
>every jealous megalomaniacal junkie asshole wants to kill you
>your name stays on the powerball website forever as the guy who won the billion $ pool
>for years and years people will look you up and feel like you owe them something
>that paranoia waiting for the one guy crazy enough to search you out
obviously you gotta change your name, flee the country and never come back. But it's still worth it
Its really not that hard to disappear if you want to and have enough resources. Just make sure to wear a mask when you go to collect your money (allowed). Also delete all social media immediately before collecting. Hopefully you have a more common name so that they can't pinpoint exactly who you are. Its not so much the name that you should worry about because it can be changed. Worse case scenario is that your face is broadcasted everywhere and you become easily recognized. This can be rectified by living like Hollywood celebrities and other rich people that are in the limelight do.
>high end gated community with security
>assistants to take care of errands, groceries, etc.
>limosine tint on cars and transportation
>bodyguards to take care of paparazzi and stalkers
Hell, you can more than afford it. If you ever get tired of ducking the public eye you can always just buy an island in the Caribbean and take extended vacations. Be creative. You are now among the worlds ultra elite.
Its not illegal if its considered an act and you pay them as 'actors'
I'm in heart failure and I feel like i'm not being cared for good enough, i'd spend it on the best care I could get with 24/7 home docters to watch over me along with a personal chef to make all my salt free meals for my heart diet.
This. Gamblers fallacy only applies in cases where you are playing multiple iterations of a game, where the odds are reset.
Example of gamblers fallacy: You play roulette and bet on black because red came out the last 5 times and you think it is more likely to be red now. Statistically, this is false thinking because it is a new game with the same exact odds as the previous game, regardless of the last outcome.
Not an example of gamblers fallacy: You play roulette and bet money on numbers 1,8,14 and 18. You feel like betting on 4 numbers and not 1 increases your chance of winning. This is true because you are betting on the same event where the odds have not been reset. Although you are making more bets and your odds of winning increases, this does not change the overall EV (expected value) of each bet. EV= ((35-37)/38)100 = -5.26
The same mathematical principles can be applied to Powerball. You have a greater chance of winning by buying more numbers but the EV of each ticket will always remain the same. The EV can be skewed however by more people buying tickets which increases the odds of multiple winners thus lowering the EV.