jpage520 Posted January 12, 2016 Share Posted January 12, 2016 I tend to think about that kinda stuff more than I do what I would do if I won really. I've always said, I'd be happy with enough money to get out of debt and experience debt free life as a working adult for the first time. But I think your pre-winning situation tends to always play a part in dictating the general direction of the first bit of money you spend. For me, it'd be paying off the six figures the education cost. I couldn't just not work though. I'd do something for sure. Obviously putting in 40+ hours a week to a job you only like so much, everyone says they'd just do nothing since they wouldn't need to work to live anymore. I know I could only do nothing for so long before the boredom set in. I'd love to go pursue further education in something I enjoyed or start a business in something I like. Link to comment Share on other sites More sharing options...
Momma There Goes That Man Posted January 12, 2016 Share Posted January 12, 2016 Ive discussed this before but I'd pretty much do nothing for like 6 months until boredom set in. Then I'd pitch a TV show or if that didn't happen just do my own in a web series or something where I'd travel the country helping those in need with my money. I'd hire somebody to be the front man so I wouldn't become famous or whatever. But think extreme makeover home edition only it's not just just house related. Could be paying for cancer treatment or putting a child though college or a new car so they can get to work or just paying off debt etc that has them buried. But it would be a hardship that I would help with. Aside from that I'd start a couple charities for causes I believe in. When not working on those, I'd travel. Link to comment Share on other sites More sharing options...
Riggo-toni Posted January 12, 2016 Share Posted January 12, 2016 I'd bet a good gauge for how happy someone would truly be after winning the lottery would be this - people who dream of all the things they will buy with the money are liable to find their ecstasies fleeting, whereas those of us who dream of all the things we want to learn,do and see will stay damn near euphoric. Money may not buy happiness, but lots of money buys freedom. The joy of experiences and memories, as well as the satisfaction of obtaining new knowledge has a lasting effect on one's contentment, whereas the excitement of acquiring new material possessions, particularly those of the conspicuous consumption variety, are nearly always ephemeral. Mind you, I'd still buy a Tesla, but I would be traveling the world, (re)learning several languages, and possibly getting another college degree in Art and/or Ancient Near Eastern History. Link to comment Share on other sites More sharing options...
China Posted January 12, 2016 Share Posted January 12, 2016 I guess I'll buy one. It will give me some fun daydreams for the next couple of days, and if fortune is going to smile on me, I need one ticket in order to have a chance. But if you are buying a bunch of tickets, you are getting burned. What, Predicto disagrees with Fox? Unpossible! Link to comment Share on other sites More sharing options...
tshile Posted January 12, 2016 Share Posted January 12, 2016 Heh... that's not the only people that think the 'trick' is to buy tons of tickets... Link to comment Share on other sites More sharing options...
zoony Posted January 12, 2016 Share Posted January 12, 2016 I read on CNN that you can buy every combination for $584 million However... You might end up splitting it with someone else, and nobody can buy that many lottery tickets Link to comment Share on other sites More sharing options...
dfitzo53 Posted January 12, 2016 Share Posted January 12, 2016 Who are you talking to? Well I was wondering whether it's getting to the point that a very wealthy person could buy every possible number combination and win the jackpot without losing money, even after taxes. I think, if I did the math right, there are roughly 292,000,000 unique combinations for the jackpot. (Which squares with their published odds.) So if it costs $2 per ticket, as long as you could get back about 600 million after taxes you would come out ahead. This also means that technically it's approaching the point where the jackpot is high enough that it's actually "positive EV" to play, even for the average joe, but since that positive EV is predicated on one enormous but extremely unlikely event, I would still argue it's not a good idea for anything other than fun. Edit: Wow, you beat me to my point by a minute. Edit 2: Side note, your odds of not even matching a single number are about 65%. Link to comment Share on other sites More sharing options...
daveakl Posted January 12, 2016 Share Posted January 12, 2016 1.5 Billion. If you read in the near future that someone purchased the Carolina Hurricanes, Carolina Railhawks, and then built a new stadium in downtown Raleigh....well that was me. Link to comment Share on other sites More sharing options...
Kilmer17 Posted January 12, 2016 Share Posted January 12, 2016 The problem is that OTHER people could have the winning combo as well. Thus radically reducing the winner. In addition though, if you bought every number you would win 25 million from having all the numbers WITHOUT the power ball 25 times, Plus a bunch of 50k prizes (4 numbers plus power ball, too lazy to do that math). And a slew of 100 dollar prizes. Link to comment Share on other sites More sharing options...
DM72 Posted January 12, 2016 Author Share Posted January 12, 2016 I'm going to make a guess that most people who win the lottery aren't any happier than they were before they won it. I bet they are constantly pestered for money, everything from Aunt Ethel wanting money to repair her roof to your deadbeat nephew wanting money to open a bar to your church wanting money to put in a new parking lot - and if you ever say no, they hate your guts. Plus, now you never work, that's fine. But then your kids expect to never work. How well is that going to work out. Plus if you make them work to build character, do you think they won't resent you completely. Plus you have every Nigerian in the world pestering you for your bank account number. Total strangers with cancer are begging you for money for the operation that's going to save their life. Wanna bet? I can only speak for me. I know how to say "NO." Link to comment Share on other sites More sharing options...
sacase Posted January 12, 2016 Share Posted January 12, 2016 Wanna bet? I can only speak for me. I know how to say "NO." I am not even going to say no. Good luck reaching me on my Yacht out in the middle of the ocean somewhere. Then good luck getting past my 24 hour a day personal assistant who will carry my phone for me. By some freak chance if you get to me, you will be met with a resounding no followed by a call block. Link to comment Share on other sites More sharing options...
Forehead Posted January 13, 2016 Share Posted January 13, 2016 I was chatting with my Dad about this. It might be better to win one of the million dollar prizes. Enough to pay off the mortgage, student loans, still have a comfortable sum in the bank, and your name doesn't get published. This really is an obscene amount of money. Would it make sense to move somewhere like Jupiter island, where everyone is ridiculously wealthy? At least then, you wouldn't have to worry about the neighbors so much. Link to comment Share on other sites More sharing options...
DM72 Posted January 13, 2016 Author Share Posted January 13, 2016 I was chatting with my Dad about this. It might be better to win one of the million dollar prizes. Enough to pay off the mortgage, student loans, still have a comfortable sum in the bank, and your name doesn't get published.This really is an obscene amount of money.Would it make sense to move somewhere like Jupiter island, where everyone is ridiculously wealthy? At least then, you wouldn't have to worry about the neighbors so much. You definitely would want to live in a rich neighborhhood. Link to comment Share on other sites More sharing options...
techboy Posted January 13, 2016 Share Posted January 13, 2016 Hey they can contribute to the schools that they use! I like it! Link to comment Share on other sites More sharing options...
ixcuincle Posted January 13, 2016 Share Posted January 13, 2016 Link to comment Share on other sites More sharing options...
ixcuincle Posted January 13, 2016 Share Posted January 13, 2016 Spoiler alert : The Powerball numbers are actually 1 2 3 4 5 (6) Link to comment Share on other sites More sharing options...
GhostofSparta Posted January 13, 2016 Share Posted January 13, 2016 Spoiler alert : The Powerball numbers are actually 1 2 3 4 5 (6) Just as statistically likely as any other combination. Link to comment Share on other sites More sharing options...
balki1867 Posted January 13, 2016 Share Posted January 13, 2016 Spoiler alert : The Powerball numbers are actually 1 2 3 4 5 (6) "That's amazing! I've got the same combination on my luggage." Link to comment Share on other sites More sharing options...
Larry Posted January 13, 2016 Share Posted January 13, 2016 I am not even going to say no. Good luck reaching me on my Yacht out in the middle of the ocean somewhere. Then good luck getting past my 24 hour a day personal assistant who will carry my phone for me. By some freak chance if you get to me, you will be met with a resounding no followed by a call block. Link to comment Share on other sites More sharing options...
mcsluggo Posted January 13, 2016 Share Posted January 13, 2016 I suspect since it is gambling, all winnings are federally taxable. it is gambling, generally... but it is also specifically a portion of the revenue generation capacity of a different level of government, and while i have no idea where/or/how, it was my understanding that the constitution forbid the the different levels of government to interfere with the OTHER levels of governments' revenue generating capacity.... and that is why muni-bonds are tax free. so--- why aren't lotteries that are specifically put into place to raise money for State coffers exempt from federal taxes? (with the clear caveat that EVEN MORE THAN USUAL, i don;t know what the hell I am talking about... I am just cobbling together several vague and amorphous memories) Link to comment Share on other sites More sharing options...
HogNose Posted January 13, 2016 Share Posted January 13, 2016 Cut4 @Cut4 2h2 hours ago Bartolo Colon is more likely to hit an inside-the-parker than you are to win the #Powerball: http://atmlb.com/1RD7Z2T Link to comment Share on other sites More sharing options...
Sticksboi05 Posted January 13, 2016 Share Posted January 13, 2016 Bought $10 worth of tickets. Will not spend another dime. These people spending hundreds individually are either nuts or already wealthy. Link to comment Share on other sites More sharing options...
zoony Posted January 13, 2016 Share Posted January 13, 2016 I spent $40 but I didn't get the power play. I don't think that effects the jackpot Who knows Link to comment Share on other sites More sharing options...
jpage520 Posted January 13, 2016 Share Posted January 13, 2016 I'll probably do $8. Two plays for me and two for my wife. I can't bring myself to spend more than $10 at a time on the lottery. Figure, if I'm lucky enough to win, I'm lucky enough to win on only a couple plays. Link to comment Share on other sites More sharing options...
TheGoodBits Posted January 13, 2016 Share Posted January 13, 2016 Won $4 off a $20 ticket last time. I'm just going to reinvest that in the ticket today. Link to comment Share on other sites More sharing options...
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