If I won the 290 million dollar Lottery....


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IncredibleGord
January 1, 2011, 09:09 PM
You just won 290 million dollars, what now?

Right now the "mega million" lottery is at a total jackpot of an estimated 290 million dollars. I was pondering how much would be spent on firearms, and shooting sports if I won. How many firearms would you buy? Maybe buy a range? Would you open your own gun store? Would you invest in a shooters' dream house? Would you buy a $70,000 colt?

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Sgt_R
January 1, 2011, 09:20 PM
I'd build a house with a vault, reloading bench, and 25 yard range in the basement, and a 1000 yard range in the backyard. Then I'd fill the vault. ;)

Wishful thinking anyway. I've never purchased a lottery ticket.

R

nalioth
January 1, 2011, 09:22 PM
How many firearms would you buy?How many firearm companies would I buy?

I definitely would be donating to pro-2A groups.

Shooter's dream house? Pass.

$70,000 Colt? Why such a low number? With $290,000,000 you can commission Colt to make whatever you want (which will also be a "one-off").

hso
January 1, 2011, 09:27 PM
Since you wouldn't get that much you'll need to limit the ambition just a tad, say $100,000,000.;)

I can think of a few things I'd do that was just firearms related, like a huge donation to the gun-owner rights org of my choice (can't enjoy what you're denied the right to have).

Considering I have a pistol range off my back porch and a "danger room" to play with guns/blades I won't need a new house, but overpaying for some adjacent property for a 1,000 ft. range would be in the plan.

I have a wish list of odd milsurps (Finnish) and NFA becomes personally "affordable".

msb45
January 1, 2011, 09:42 PM
I'd buy so much land you wouldn't be able to get close enough to hear me popping off my .50.

Just like Disney I could be my own township or maybe a county.

carbuncle
January 1, 2011, 09:51 PM
Buy land and build a house with some custom features catering to several of my hobbies, set up my family, invest in a broad spectrum of stocks and securities and decide which charitable organizations I would spend my time volunteering for.

Zoogster
January 1, 2011, 09:58 PM
If you win the lottery you do not actually get the total amount.
You either get a cash value worth about half or an annuity paid over many years. In California it is paid over 26 years, meaning you get 1/26th of the value each year.
The annuity can be better than what you could actually expect in reasonable interest if you took the cash and deposited it, but it also means you don't have that money available to you, and who knows what taxes or other new legislative punishments may exist in the future. Or if the payer will be around, file bankruptcy etc There is a lot of unknowns over 26 years.

Whether you take a lump payment or the annuity you lose even more.
Out of what you actually get nearly half of that goes to taxes.
The winnings typically put you into both the highest federal and state income tax brackets.
If and when the Bush tax cuts expire the percentage will be even higher.


So if you get about half of the winnings in a lump sum, and then half of that after income taxes.
This means you would actually end up with closer to 70 million if you won the 290 million jackpot all by yourself.
Now 70 million is certainly great, but that is only if there is one winner, multiple winners result in it being divided more.

On top of that most of the relatives and friends you have ever had will feel entitled to some of what you have won.
Whether in the form of cash, gifts, helping them with bills or financial hardships, etc
If you have been divorced ex's will come out trying to get a piece in lawsuits.

In fact lawyers will be behind anyone who has ever had a problem with you just trying to take a piece.
If you bump into someone, get in a fender bender, or have someone trip on your property, you have a lot to take and everyone wants a piece.
You will never get a good deal again anyplace where someone recognizes who you are. So it will cost more to actually buy some things as well.

Lawyers and others will trying to manage your winnings and do all they can to take a piece of them in the process.
You may need to pay for some employees as a high profile individual which quickly adds up, especially reliable ones you give a decent salary.

If you buy some big ticket items initially like expensive homes the property taxes may be more than you can afford in a decade, and continue to eat into what you have remaining. You make think a 5-10 million dollar house is affordable, and find the taxes unaffordable in your future and risk losing it all.
Buying things like expensive automobiles or a yacht that depreciate significantly in value also turns into vanishing money.

Everyone will consider you selfish or greedy if you determine and operate on a budget that will last your lifetime or beyond.

Real future friends, spouses, etc become more difficult to attract, because you will never know how many like you primarily for your money, and you will attract a lot of gold diggers.


You are on public record as winning a large sum of money, this may cause you to desire extra security precautions. Not only you, but family can become more vulnerable to kidnapping for ransom if people realize the connection, especially when traveling abroad.
These extra security precautions will add significant costs to the same things that are much less expensive for you to do now.


With all of this in mind, how many years do you plan to live? Divided by your future lifespan how much can you spend per year? Keep in mind inflation means that money will buy less and less every year not invested, and invested there is risk for serious loss.
Do you want any to remain for descendants, in the creation or maintaining of something that extends beyond your lifetime? That would of course decrease what you can spend per year.
If you put sizable amounts towards creating various things, business ideas, charities, etc even less will be available to spend for your yearly budget and needs to be taken into account.

Even if you were living on a million dollars a year a gun costing $70,000 would be a whopping 7% of your yearly budget. Certainly a big chunk of change for a single item for any budget. You don't get to make many 10% of your yearly income purchases.

Ian
January 1, 2011, 10:05 PM
I'd build a CNC shop, and make interesting guns for fun.

Stevie-Ray
January 1, 2011, 10:16 PM
Meh, I won 8 bucks on it so my dreams are on hold........

Justin Holder
January 1, 2011, 10:47 PM
With 1 million I could set myself up to live like a king, at least by my humble standards.

Definitely a big hunting trip every year.

Probably a new gun every month or so.

Ammo, lots of ammo.

22-rimfire
January 1, 2011, 10:52 PM
It is pretty easy to spend a million these days. Wish I had one to spend. I'd pay some bills and then think about what to do with the rest.

CTI1USNRET
January 1, 2011, 10:57 PM
Congressmen, senators, governors are not really all that expensive these days and I've always wanted to get a couple.

Nanook
January 1, 2011, 11:01 PM
If I ever won any lottery money, I'd use the the first check to move out of IL and back to the USA. :D

Then, lots of land, a decent house with a basement, a multiple car garage/shop, and of course more guns and ammo.

I have many interests besides guns, and those would be indulged.

I would of course help my immediate family, and several close friends. Possibly to charity if I could find one worth helping, without limo riding execs.

I would move, though, first thing.

Brass Rain
January 1, 2011, 11:04 PM
My post didn't work the way it was supposed to. Disregard this.

Zanad
January 2, 2011, 12:08 AM
I'd use it to support thehighroad.org in anyway possible..... then build my property the way I like it.

Sunray
January 2, 2011, 01:05 AM
"...what now?..." You call your brother, collect(assuming he still lives where the phone number you have matters and to be a rectal orifice), from some place exotic, and tell him to build the no expense matters house he wants on the property he bought.
"...you do not actually get the total amount..." Certainly not Stateside. No taxes on lottery winnings up here. Need to check my numbers on the $50 million Cdn lottery from this past Friday.

S&W-Keeper
January 2, 2011, 01:07 AM
I would quit carring my lunch to work.

HOOfan_1
January 2, 2011, 01:12 AM
As post #2 says...buy a nice house with a vault and some land. Land to hunt, land to shoot.

Then I would go nuts. I am already drooling over the Model 1892s and Model 1886s that just appeared on Winchester's website. Not to mention all the bolt guns I would buy and all the reloading dies I would need to buy.

XxWINxX94
January 2, 2011, 01:25 AM
Oh boy if I had that much......
I think I would start by paying people to research in depth, obtain detailed information, and have an accurate up to date value on all of my guns. Literally an essay for each one. Then of course I would buy more guns, and use the same team of researchers to scope out the best deal on the gun I want. A huge chunk would go towards ammo to feed my shooting needs. I would also be sure every close family member had at least 1 gun and the proper training of how to use it.

The sorta non-gun stuff:
Move out of Illinois and purchase land in the country.
Buy about 50 classic cars and new house/place.
New outdoor gun range out to 1000 yards and indoor at 25 yards.
Donate some to the NRA and other organizations in support of the RKBA.
Finance or help finance a STRONG pro-2nd ammendment candidate's campaign.

Could dream up alot more but thats what I got for now.

levsmith
January 2, 2011, 01:27 AM
If its like someone said, and I only got 70 million, the first thing I would do is retire. Then I would spend about 20 million on land, land and more land. Then build a decent house (not huge, just your average house) powered by alternative energy, and just learn to be self sufficient and live a nice simple life... Oh how I can dream, but its hard to win the lottery when I dont play.

CapnMac
January 2, 2011, 01:35 AM
I'd almost rather be one of 100 winners if it is Mega Millions. Mostly as there'd have to be some sort of formal organization at that point for the disbursal.

Plain ol' Texas Lotto? Give me 25 annual payments over "cash value" every time. A Trust will own and present the winning ticket. Then the trust can employ me as caretaker. And, yes, you'd better cipher carrying costs, and post annuity costs, too.

So, Lotto was $10 million tonight. They take 20% for taxes, so that would be 25 payments of about $320,000 per year. You'd probably want to assume you'll need another 25% for imbedded taxes. That's down to $240,000 per year. You ought be putting $60,000 to your retirement, which means you are suffering along at a paltry $180,000 per year.

Pay yourself oh, $50K, that leaves a dime or two free for the trust to buy land at $3500/acre; house at $200/sf and have some left over.

Back in the heady days when I made $50K/yr, I had a pretty good "toy" budget. I might could find a way to make such things work.

And, after all, probability of a win is only about that of being hit by lightning. Twice.

Still fun to think about.

If you force me to answer with the $290M; then I'd have to say I'd "Howard Hughes" as much as I could.

Ridgerunner665
January 2, 2011, 01:37 AM
I have enough guns (well, not really...) so I would use that $290 million to buy 10,000-20,000 acres of land somewhere in WY, MT, or ID.

Somewhere to enjoy the guns I already have...

therewolf
January 2, 2011, 01:43 AM
290 MILLION?

I'd try to pay for at least a third of my kid's college expenses before DECLARING

BANKRUPCY!

GAH-VONE!:banghead:

CapnMac
January 2, 2011, 01:46 AM
Lev used the number $20M in land; here in central Texas, that'd be about 4-5000 acres. Which is going to be a tax bill around $10K/yr with most of it under "ag use."

But, the real killer is that you'd need 200-300,000' of fencing for that much land. And the sad truth is some body has to ride the length of it to keep it in repair. I've ridden fence before, it can be hard work.

Dang it, I've rained on the parade again; sorry.

LawScholar
January 2, 2011, 01:50 AM
Fifty million to Wounded Warrior Project.
Fifty million to Operation Homefront
Fifty million to parents.
Fifty million to brother.
Invest and save the remaining ninety.

Oh. Every single gun Beretta has ever produced.

Black Butte
January 2, 2011, 01:52 AM
With 290 million, you could buy 580 thousand Glocks.:D

garyhan
January 2, 2011, 02:40 AM
Buy a remote home in a combination desert/forest area rich with game, at least a section of land.

Get these goodies to start:

Holland and Holland Royal Grade .450/400 double rifle
Shiloh Sharps .45/70 with all the trimmings
Thompson M1928A1 smg
H&K MP5 smg
Ma Deuce
A dozen assorted suppressors
Win M92 .25/20
Win 95 carbine .30-40
Norwegian Krag carbine 6.5x55
Savage 99eg .250
Bolt guns by McMillan, Cooper, and Holland calibers to be determined.
M1903 Springfield NRA sporter
M2 1903 Springfield
Webley Greener target model .455
Pre war Colt Woodsman
Pre War S&W .22
Freedom Arms .327
Sig 210 9m/m
S&W M&Ps, threaded, in 9m/m and .45
M16a1

Shoot 'em all and make up a new list.

gary

TexasBill
January 2, 2011, 05:46 AM
$290 million taken in the 26 annual payments would be taxed as income so after taxes that would work out to just over $7 million a year.

Finish paying for daughter's college (just three more semesters, yay!) and set up trust fund for son's college.

Help our older kids out: they work hard and deserve it.

Turn wife loose in the Galleria. Once each year when the check comes in.

Money for my brother, sister and my wife's mother and siblings. I believe you can give up to $10,000 per year per person tax-free.

Donations to church and charities that we support (USO, Feeding America, etc.).

Have real fun at next NRA dinner. This time, I wouldn't get outbid.

I think I'd make generous "campaign contributions" to some key state legislators and see if we couldn't get open carry in Texas.

Nice indoor pistol range and a house to go with it. Take a couple of years on that one.

Commission a re-design of the Luger to give it a better trigger. I have always liked the Luger but the trigger mechanism is right out of Rube Goldberg.

As to what guns I would buy, that would have to wait until we got open carry passed. I've got all the CCW I want.

bds
January 2, 2011, 06:19 AM
What? No resort for THR staff/mods/members? Can you say Disneyworld of shooting/reloading?

Of course the resort would be located in the most 2A friendly state complete with 100-200-300-400-500-600-800-1000 yard range with remote resetting targets, shot gun ranges, and various pistol ranges.

As to action pistol, in additional to "themed" 25-50 yard indoor/outdoor pistol ranges with reactive targets, full shoot house/bus/train/market/7Eleven to test real-life shooting scenarios, and ballistics testing labs (BYOB - Bring Your Own Bullets) to test your choice of ammo.

One stop reloading/shooting/gunsmith/custom fab/pro shop/gift shop. Full array of press setup to actually load test rounds.

Camping accommodations with full-hookup RV park with free wired/Wi-Fi so everyone can read/post on THR while resting sore wrists from excessive trigger times on the ranges.

Choices of BBQ/smoke house/treats and spa treatments for the ladies.

Profits to benefit 2A activities.

If any THR members win the Mega lotto, think about this - then we ALL end up winning! :D

content
January 2, 2011, 06:58 AM
Hello friends and neighbors // Henry the VIII's 15th century, Wheel lock ,breech loading hunting gun. 133196It had a hinged breech and a reloadable iron cartridge. If it was not for sale, a Ferguson breech loading rifle.

Then I'd sit back and think about how to spend the rest for at least a week.
By then I might have organised an elk/moose hunt for my dad and I, that would be a great start.
After a few dream hunts, I'd start looking for a way to encourage local young folks to think about firearms and SD, hunting, shooting safety in general. (Right now our local Boy Scouts do not even learn about firearms)

Hunting land/licenses/lodges in several states.

WWII Tommy Gun (if available) and 1911

Probably buy better examples of my current infestments...Springfield Trapdoor,M1 Garand and Carbine, Broom handle Mauser ...most of mine are bottom shelf working firearms. I'm proud of them and enjoy shooting them all, but no one would call them lookers.
I'd still shoot the upgrades.
I only have three unfired weapons. There is something about unused tools that makes my head ache.

Mp7
January 2, 2011, 07:15 AM
A beachfront house in Australia ...
an Appartment in NYC and one in Amsterdam.

A Log-cabin with land in Kentucky ... and i guess all surplus rifles
ever built in it ... and blackpowerd one too.

Travel between those 4 destinations.

Money would be spent on traveling .. and maybe a few classic cars.
IŽd rather rent the Maseratis and FA guns, when i wanna play with them :-)

Jeff F
January 2, 2011, 08:32 AM
I think I would buy a couple of guns then spend a week or two at the Bunny Ranch.

bushmaster1313
January 2, 2011, 08:53 AM
I've day dreamed about how much it would cost to corner the market on every original condition 4E Knick.

TempestP226
January 2, 2011, 09:26 AM
-Pack up the few things I care to keep, get in my Dodge and gtfo of Dodge. (Don't need "relatives" crawling out of the woodwork, or charity solicitors.)
-Move to an undisclosed location in the mountains.
-Build my dream house.
-Start buying my way into as many gun control organizations as I can and eating them away from the inside like a worm in a rotten apple.
-Giggle like a schoolgirl as I succeed.

ambidextrous1
January 2, 2011, 09:29 AM
I'll be 79 in March, so the immediate cash settlement makes sense for me.

It would be hard to find a better combination of good climate and reasonable firearm laws than what I have now, so I'll stay here and upgrade the 'ranch' a bit.

I'll make hefty donations to a couple of local gun ranges, specifying what I want in new amenities; I'll let the present owners run things. I don't want to get involved in day-to-day minutiae.

I can always use another 20 or 30 firearms...

The NRA will thank me for my generosity!

I'd like to start & fund several firearm-related youth programs, to increase our political strength. I'll accept suggestions on the details of these programs.

I'll make generous endowments to community colleges throughout the Southwest, for firearm repair courses.

My close family & friends will receive robust cash gifts just after Christmas (in the new year, to allow for tax planning).

A few large campaign contributions to deserving candidates will help correct earlier errors in the Federal & State legislatures...

All this will leave a large chunk of unspent cash; but I've only been thinking about it for 15 minutes or so...

Thanks to IncredibleGourd (the OP) for an enjoyable fantasy trip!

Zach S
January 2, 2011, 10:24 AM
Guns would be pretty low on the list for me. First thing I'd do is build a house (not a mansion, a house), then make a deposit into my daughter's college fund. Then I'd build a decently equipped garage. Ship my Mercury Zephyr to Maximum Motorsports and have them install what I haven't already. Paint my Caprice, install a 6L Vortec (LQ9). Buy a Centurion Crew Cab F350, or build one in my new garage. Buy a Martin and use my Ibanez as a beater. Play "Upper Middle Class White Trash (http://www.youtube.com/watch?v=iKmDCDYjM9k)" while trying to contain my laughter.

In all seriousness though, I don't play the lottery, so my odds of winning are none, which isn't much worse than everyone else (slim to none).

jeepguy
January 2, 2011, 10:51 AM
if i won that kind of money i would build a new house on about 80 acres. then i would give some to family, friend and several charitys. i would give some land adjacent to my property to family and friends. i would probably buy several rifles, pistols, and shotguns. then i would build my own rifle & pistol range, with some reactive targets. start taking some of the best defensive handgun & rifle courses in the country. learn more about gun smithing and start reloading. that should keep me busy for a little while. it would also be fun to end some of the endless topics we like to debate on these forums, like 9mm vs .45, ar vs m14/m1a, 7.62nato vs 5.56, ar vs ak 47/74, cast receiver vs forged, etc, etc, etc... end these debates once and for all. (yeah right) rofl it would be fun though.

CTI1USNRET
January 2, 2011, 11:15 AM
Start a nation-wide chain of low-cost shooting centers with indoor and/or outdoor ranges. All would feature frequent, free safety and self defense classes, followed by a time of free rentals and use of the range upon completion.

Think "McGuns" franchises across the nation promoted by a huge, continuous 2nd Amendment Rights advertising campaign in every paper, and on every radio and TV channel. Slogans. catchy jingles, billboards, clothing line, patriotism.

Each "McGuns" would sponsor local, youth baseball, football, basketball, soccer, and shooting teams.

Annual amatuer local, state, and national competitions at highschool and college level.

Imagine flying over our country and seeing ranges that are just as beautiful and recognizable as golf courses.

Just a thought.

skoro
January 2, 2011, 11:26 AM
I'd split the great bulk of it among family members so that each would be set for life. I'd set up a scholarship fund for young folks talented in science. I'd give some generous donations to a few worthy causes. I'd enjoy writing checks to a circle of long-term friends.

And then I'd live the rest of my life on my own schedule.

sharpshooter74
January 2, 2011, 11:39 AM
I'd buy at least 80,000 acres in either Montana or Wyoming for shooting and hunting purposes. I'd also purchase all the guns I can get my hands on. I'd also like to make my dream come true of having at least 5 million rounds of ammo stockpiled.

Mike J
January 2, 2011, 11:40 AM
First I would take steps to keep my name out of the news. Then when I collected I would want around a hundred acres with a nice home on it. The house would have a vault in the basement. I would set up a shooting range out back. Of course I would take care of family & make sure my children were provided for. I am also sure I would acquire more guns, ammunition, reloading equipment etc.

Mike OTDP
January 2, 2011, 11:41 AM
I'll play :-)

Probably the big item would be a large range, set up for both ISSF (Olympic) and MLAIC disciplines. A range big enough to host major international events, with a trust fund to keep it in repair. Come to think of it, the 2010 World Muzzle-Loading Championships were held at a range owned by a gentleman who did just that.

As for guns, I'd hit the major auction houses and snap up several cases of flintlock duellers. A Shiloh Sharps carbine. A Feinwerkbau AW93. Hell, roll the dice on a Match Guns MG2E. And order an underhammer flintlock pistol from Andy Baumkircher.

Avenger29
January 2, 2011, 11:46 AM
Get some education, change my name, move, and go low profile as possible. That guy in the modest house out on that 50 acres in TX, works for the railroad, and drives a 10 y.o. truck? No way anyone's going to suspect he's rich...

HGUNHNTR
January 2, 2011, 11:48 AM
Purchase quality farmable land.
Purchase a house in southern France and promptly move.
Travel.

highlander 5
January 2, 2011, 11:58 AM
Don't play the lottery,just a tax on stupidity. But were I to play and win level the house I have now and rebuild it to what I want. Get some serious plastic surgery change my name and become incognito. Most of my family is borderline poverty level so I would set up a trust to help them out and no right out cash as it can be gone thru in short order.

clutch
January 2, 2011, 12:03 PM
Since I don't waste my money on lotto tickets is isn't likely going to happen.

But say, I did buy a ticket on a whim, I'd likely buy some land long enough for an air plane, hunting, and a shooting range. I might not ever get the air plane but I'll use the range ;)

I'd get a good health checkup with a very good doctor to help ensure I'll be around to spend it.

Yup, I'd buy a few guns.

Build a bigger house but nothing nutz. I'd upgrade the workshop, not needing to work, I'll need some thing to occupy my time.

Make sure my sister has a place of her own.

Make sure my nephews can go to college.

Support the SAF and other select pro-freedom organizations.

Go on a road trip and see some of this great country. (Only the states that honor my carry permit)

Invest the money in the US. Use some of the proceeds to commit random acts of kindness.


Clutch

smallbore
January 2, 2011, 02:46 PM
Pay off all the bills and move off the grid.

gdcpony
January 2, 2011, 02:57 PM
Pay off family and friends' bills- after that they can make their own way unless something really bad happened.

Buy the house of my dreams- already built and for sale

By a ton of land

Buy cars, guns, and bows.

Set up large savings accounts for my kids and they can have the interest for an allowance, and borrow from it for college, houses ect, so long as they put it back in. When they retire they can have all of it (minimum age would be set)

DoubleTapDrew
January 2, 2011, 03:17 PM
As Zoogster said, it's a lot less than 290mill after it's all said and done. But I'd build my dream house (with indoor/underground shooting range) and probably blow a million or so on NFA stuff. Plus I could afford to get that hi-point I've always wanted!

Listening to a personal finance radio show, a lady called in saying she won a million dollars on a lottery her and her husband played every year on their anniversary. She was wondering if she should pay off her house because after it was all said and done that million was actually $260,000, which is about what they owed on their house. That's why I always laugh when someone talks about winning a million $, telling off their boss, and living like a king for the rest of their days. After a year of living comfortably theyll be looking for work again assuming they didn't blow it all right away (and have a heart attack/declare bankruptcy when it's time to file taxes).

Zoogster
January 2, 2011, 03:39 PM
$290 million taken in the 26 annual payments would be taxed as income so after taxes that would work out to just over $7 million a year.

Highly optimistic I see.

Money will have only a fraction of the buying power when you factor in compound inflation.

Second the top income tax right now is at one of the lowest levels in recent history.
Doing a quick search for tax rates, here is married filing jointly since the early 1900s:


1913 7 500,000
1914 7 500,000
1915 7 500,000
1916 15 2,000,000
1917 67 2,000,000
1918 77 1,000,000
1919 73 1,000,000
1920 73 1,000,000
1921 73 1,000,000
1922 58 200,000
1923 43.5 200,000
1924 46 500,000
1925 25 100,000
1926 25 100,000
1927 25 100,000
1928 25 100,000
1929 24 100,000
1930 25 100,000
1931 25 100,000
1932 63 1,000,000
1933 63 1,000,000
1934 63 1,000,000
1935 63 1,000,000
1936 79 5,000,000
1937 79 5,000,000
1938 79 5,000,000
1939 79 5,000,000
1940 81.1 5,000,000
1941 81 5,000,000
1942 88 200,000
1943 88 200,000
1944 94 200,000
1945 94 200,000
1946 86.45 200,000
1947 86.45 200,000
1948 82.13 400,000
1949 82.13 400,000
1950 84.36 400,000
1951 91 400,000
1952 92 400,000
1953 92 400,000
1954 91 400,000
1955 91 400,000
1956 91 400,000
1957 91 400,000
1958 91 400,000
1959 91 400,000
1960 91 400,000
1961 91 400,000
1962 91 400,000
1963 91 400,000
1964 77 400,000
1965 70 200,000
1966 70 200,000
1967 70 200,000
1968 75.25 200,000
1969 77 200,000
1970 71.75 200,000
1971 70 200,000
1972 70 200,000
1973 70 200,000
1974 70 200,000
1975 70 200,000
1976 70 200,000
1977 70 203,200
1978 70 203,200
1979 70 215,400
1980 70 215,400
1981 69.125 215,400
1982 50 85,600
1983 50 109,400
1984 50 162,400
1985 50 169,020
1986 50 175,250
1987 38.5 90,000
1988 28 29,750
1989 28 30,950
1990 28 32,450
1991 31 82,150
1992 31 86,500
1993 39.6 89,150
1994 39.6 250,000
1995 39.6 256,500
1996 39.6 263,750
1997 39.6 271,050
1998 39.6 278,450
1999 39.6 283,150
2000 39.6 288,350
2001 39.1 297,350
2002 38.6 307,050
2003 35 311,950

From world war 2 until the late 80s you really got screwed.
90% throughout the 1950s!

If you expect to only pay 35% federal income tax over 26 years in a state that currently has no income tax that would be highly optimistic.
The feds will likely increase the income tax within that time, and the state may decide at some point to implement income tax.

California adds another 10% state income tax on top of that.
So it is at 45% (45.3%) . You get around half in a lump sum.
So in California if you won the entire 290 all by yourself it would be 158 million in annuity subject to whatever new tax changes occur that could drastically shrink that amount, as well as compound inflation that will drastically cut the buying power over time.
In a lump sum it would be closer to 79 million, locked in at current tax rates, some of the lowest in the last 100 years.
Factoring worse future tax rates and compound inflation the lump sum would likely be worth more.


That is all assuming you won by yourself, many get split between multiple winners.

WALKERs210
January 2, 2011, 03:54 PM
Guess I am one that don't want much as for material objects. If I ever won that kind of money it would be very simple. First on list 3/4 of total given to St. Jude's children hospital. Maybe (big maybe) give a small amount to be divided between children and grand children. Would stay right where I am, but would buy adjacent land just cause I like it. Only gun that I would buy is one I have seen listed at DIXIE Gun works, reproduction Gatling gun (only $45,000) and about 6 months supply of ammo. Anything left over would go to provide for families that are really between a rock and hard place.

Hardtarget
January 2, 2011, 04:02 PM
Well, if you take the cash payout, you receive about $116 million. Then serious income tax comes out. Then you can go have a nice steak dinner and go on with your life! :cuss::cuss:

I'm just saying get the check and let your account tell you how much you have before you start giving it away! :D

Fun to think about, isn't it?

Mark

parsimonious_instead
January 2, 2011, 04:11 PM
There was a reality show about people that became suddenly wealthy (I don't think it's the currently airing "how lottery changed my life, but I could be wrong).
One fellow won big and moved to Hawaii. The camera crew took a tour of his home and the subject of the show, as congenial a fellow as you could expect, made sure the camera saw the various guns he kept around the place, claiming they were for defense against "predators" with a really, really good poker face.

Radium
January 2, 2011, 05:37 PM
first off i would give a great great deal to charity, building up good dog and cat kennels etc.

secondly i would invest a big chunk in realerstate.

third i would go crazy. not only would i start my own gun store. but i would start my own gun store chain, own shooting facility with good training for -LEO-CIV-MIL.

and i would retire semi retire as a 24 year old on a small farm with my future wife. but ofcouse i would do work but since this work is my hobby i wouldnt see it as work :P.

and maybe build that SHTF bunker aswell since i would have sum xtra cash lying around/coming in.

edit oh and ofcourse we already have this packt with my shooting buddies. a few houndredthousand rounds of hollowpoint and a nice set of competition guns.

CoastieShep
January 2, 2011, 09:06 PM
First, pay off all my bills. Second, pay off parent's and in law's bills and make sure everybody is taken care of. Put a few mil in accounts for my 2 little kids, another big chunk would be invested in a couple places, then after that, I'd do whatever I felt like doing, whenever I felt like doing it.

351 WINCHESTER
January 2, 2011, 09:30 PM
I'd give a lot to pay off family/friends debts. Donate a lot to worthwile charaties, learn how to spell, buy a new truck, build a log cabin in the middle of the biggest piece of land I can find south of the Mason Dixon line. Redefine laidback.

Nuclear
January 3, 2011, 01:31 AM
Set up trust(s) to help my family without making them dependent on me. Pay off all my debts. Drop off the grid as much as possible, maybe changing my name to something common as dirt. Build a dream house in a great locale, including the gun vault, range and automated reloading facility to support my gun habits. Buy a few gun "toys" - a Thompson and a BAR, for example. Get a few cars, nothing outrageous. Commit random acts of charity through a foundation. Donate money to political causes and candidates I support. In other words, the usual.

dmancornell
January 3, 2011, 01:41 AM
I'd probably keep working since I actually like my job.

Pay off my debts, pay people to fix up the house, install some security, some SHTF preparation, invest in gold and commodities, support libertarian candidates.

Also, buy a BAR and shoot it a bunch.

Buck Snort
January 3, 2011, 01:47 AM
I've spent most of my adult life drink'n cheap whiskey and chase'n loose women. So, if I won the big pot I'd most likely start drink'n EXPENSIVE whiskey and chase'n loose women!

killchain
January 3, 2011, 07:40 AM
You just won 290 million dollars, what now?

Right now the "mega million" lottery is at a total jackpot of an estimated 290 million dollars. I was pondering how much would be spent on firearms, and shooting sports if I won. How many firearms would you buy? Maybe buy a range? Would you open your own gun store? Would you invest in a shooters' dream house? Would you buy a $70,000 colt?
I'd buy the BAFTE and disband it.

Take one for the team. :)

heeler
January 3, 2011, 08:23 AM
Well I disagree with Zoogster on the tax issue because my state has no income tax so the tax levied would be whatever the going federal rate would be.
Probably no more than 35 per cent in a state where there are no such thing as a state income tax.
I was fortunate enough to win $50,000.00 on a $5.00 lottery scratch ticket a year ago and the tax was a straight 25 per cent.
That's it.
So if I did win that much money for sure I would buy a couple of very large ranches for hunting and recreation.
Most likely I would set up a trust of some sort.
For most people who work a regular job to get by some of this would be pretty daunting without good disipline and seeking the help of people whose business it is to give good sound legal and financial advise.

au01st
January 3, 2011, 09:27 AM
Probably something like what this guy did:

http://blog.lottogopher.com/2010/08/lottery-jackpot-winner-seeks-to-turn-his-millions-into-1-billion/

I don't have a mortgage, so I'd probably upgrade to a bigger house in the area with more of a lot, pick up a nice 2011 Explorer, and pay my parents back what they helped me with through school (as well as pay for my sister's vet school and my brother's tuition in 2 years). Take the family on a vacation, pay off my parents house and buy the lots on either side of them like they eventually plan to do. I'd keep my job because I like it, but might cut back on the hours and go to grad school or work on my pilot's license.

MikeNice
January 3, 2011, 10:47 AM
Congressmen, senators, governors are not really all that expensive these days and I've always wanted to get a couple.
That was my first thought. It would be a great way to get some idiotic CCH laws changed.

MikeNice
January 3, 2011, 11:39 AM
I would pay of all of my bills, my immediate family's bills, and build a house for the wife, kid, and I.

Then I would give $1,000 a month to six close relatives. It isn't a ton of money, but $12,000 cash every year is a nice bump to the retirement fund. It could pay the mortgage, or a couple of car payments.

I am thinking of clearing $72million after taxes on a one time pay out. Invest that at a relatively safe 1% interest and you get $720,000 a year. After taxes count on some where around $320 - $360,000 a year. Anything over $72million would go in to a trust for my kid to collect at 25 years of age.

As far as guns, Colt Day of The Dead .38super, Colt Golden Dragon .45acp, Walther Aristocrat PPk/S, M1 Carbine w/paratrooper stock, M1 Carbine with standard stock, Springfield XD sub-compact, Spingfield XD(m) 3.8 in 9mm, AK47, Saiga 12ga with two 20 round drums, Mini 14 with mutiple high capacity magazines, and a .303 British sniper rifle.

I would take several "tactical" gun classes, and sign up for a civilian SERE or survival course. Then I would sign up for Krav Maga, Arnis classes.

I would also spend a little on a Cadillac CTS-V coupe and Ford Raptor Hennesy 475.

brandon_mcg
January 3, 2011, 12:07 PM
pay all the bills, all of my immediate families bills, tithe 1/10, build a nice house with a nice outdoor shop or 2, and get 2-3 guns that i have been wanting including an AR platform, a lever action 30-30, and a nice .22 pistol.

i would then invest and save the rest. there are too many stories of people winning the lottery and then going bankrupt shortly after.

my chances of winning are 0% as i have never purchased a lotto ticket.

ny32182
January 3, 2011, 01:51 PM
For several reasons I would take the lump sum, so halved for that, and halved for taxes, would leave somewhere around 72.5 mil. I would give a million each to all my living relatives (there aren't many, and luckily, most of them don't really need it anyway) and some discreetly to a few close friends.

Then, I would move across the country to someplace where other "friends and relatives" would not know me, and everyone I met would know me from the start at the new social/economic level.

Then, I would NOT "go nuts". That is how many of these winners go broke. I've always been convinced that either you know how to manage money with some level of proficiency, or you don't. How much you have to manage doesn't really matter. If you are up to your eyeballs in credit card debt today, for instance, I'd bet you'd be right back there in a few years, if not sooner.

60 million in 3% CDs would yield 1.8 million a year with zero risk... as conservative and you can get, and you'd still be guaranteed that huge living stipend. I could live life practically any way I could imagine on 1.8 mil a year for the rest of my life. Yes, I would buy houses, fast cars, and maybe a class III gunshop and range, but I would not spend the money any faster than I could make it, any more than I do so today.

Personally though, I consider the lottery a tax on people who are bad at math.

xXxplosive
January 3, 2011, 02:00 PM
I'd sit down have a drink and then change my mailing address to a PO Box....Neighbor up the street won 14M awhile ago and his mail box was exploding with money requests.....he had to get a PO Box for all the junk mail......then I'd find a top notch investment broker and listen closely.

Once the dust settled, I'd take care of my families future first........then maybe get a few new toys......maybe.

au01st
January 3, 2011, 02:33 PM
Personally though, I consider the lottery a tax on people who are bad at math.

That is one way to look at it. I don't play the lottery like it's my retirement plan, I play it for enjoyment. I've had plenty of high level math in my studies and know the odds are against me. I also know that through my life, I've been the "lucky one" in my family. I don't believe in "luck", but I do enjoy playing the lotto just the same. Unfortunately I live in a non-lottery state, so whenever I'm out of town I'll pick up a predetermined set of random numbers (I randomly pick them myself and have fun thinking up ways to pick random numbers).

bds
January 5, 2011, 12:54 AM
$355 million for 1/4/11 with an estimated cash value of $224 million.

Somebody is going to win it soon or later.

theory
January 5, 2011, 01:34 AM
I would take the lump sum because it's getting harder and harder to raise money to pay lotto winners. One of my friends in college won $15 million. (http://www.wsaz.com/newsohio/headlines/28616334.html) We were in the process of starting a lottery pool that would have gone into effect the following week. He won his money, came back to rub it in, and disappeared from the face of the Earth. Come to think of it, I would probably move far away too.

If I won the $355 million, I would take the lump sum and make sure my 4yr old daughter had the best possible doctors and medical experts as well as a few new kidneys to replace hers. I would also acquire a few essential businesses, buy a beach house somewhere and a house somewhere with great views of the Rocky Mountains. I might buy a fuel efficient plane, because I've always wanted to learn to fly. Other than that, I would make sure the ones that supported me through thick and thin were well taken care of.

I would try to make sick and terminally ill children more comfortable, and help out with Make-a-Wish and other foundations as much as possible. I would probably splurge on a new Jeep, a used Porsche, a new and a classic corvette, a very large farm (there's also an abandoned farmhouse I've been wanting for years), some brewery equipment (as a business), and... here goes..... my biggest splurge....

I would earn a Ph.D through private instruction. I have dyscalculia/dyslexia from a head injury, so I have a difficult time remembering equations and such... but I'll have completed a B.S. in Mathematical Science (physics and applied mathematics concentration) as well as a B.S. in Natural Science (geology concentration) in June of this year. I would love to become a geophysicist, but grad schools are hellaciously competitive and I really don't stand much of a chance against a lot of these machine-brain foreign students (don't get me started).

Sediment
January 5, 2011, 08:03 AM
Well put those thoughts on the back burner, 2 people won the jackpot tonight that totaled $335 million. Split into $177.5 million per winner. One in Idaho and one in Washington State...

bds
January 5, 2011, 09:40 AM
We could hope that they are shooters/reloaders and support 2A activities! :D

CraigC
January 5, 2011, 01:03 PM
I'd buy a lot of acreage, around here property taxes are cheap so I don't expect it to put me in the poor house. It will be a working farm that I plan on turning a profit for a little residual income. I'd love to have several hundred head of cattle and a handful of Friesian horses.

I'll build a substantial house (not 10,000sq ft), as either a rustic log home or something that looks like it belongs on the English countryside. I will have a large library/study with walnut panelling, filled with gun racks, books and cigars.

I will have a long distance shooting range, that is a given.

I will learn to fly and would love to have a P-51 to hotrod around in.

I would have a rather large warehouse with various motorcycles, cars and trucks. We won't go into details.

I would commission Hamilton Bowen to build me several one of a kind dream guns I've thoguht about for years.

I'd fly to London to get fitted for a couple shotguns and rifles.

I'd start collecting old Colt cartridge conversions and percussion guns as well as old British sporting guns.

I'll take a trip or two to Australia for a large scale varmint hunt (camels, donkeys, etc.) to prepare for at least one African safari every year.

I'd travel the world to bird hunt. Love to do a traditional european driven bird hunt in some green waxed cotton duds.

Grey_Mana
January 5, 2011, 01:58 PM
Think I would run for office. A single term in the US House of Representatives is worth $30k/year retirement. Move some place where the current rep really needs replacing, run a careful campaign, and you'd be able to do great things for the economy and civil rights.

NMGonzo
January 5, 2011, 02:57 PM
Fund a revolution in Panama, take over the canal, and make billions!

Guns and more
January 5, 2011, 03:58 PM
1. Get my phone disconnected.
2. Build a wall around my house.
3. Buy a bunch of property in Colorado.
4. Build a nice home there.
5. Move.
6 Take the majority of what's left, give some to charity, and buy gold as a hedge against the falling dollar.
7. Disappear........especially to family you haven't seen in years.

wojownik
January 5, 2011, 04:08 PM
Get my family into a much better area (for schools, general living, etc.)

Then plug a bunch into future expenses - college tuition+board probably being the single biggest .... for 4 kids, 15-18 years down the road, tuition and board will be about $1.2 million (for a top tier private university, no kidding!).

Make sure my extended family is provided for.

And maybe pick up an FN SCAR for me. Make it two (another one for non-existent spare parts).

Dr.Rob
January 5, 2011, 05:56 PM
I just saw an ad for a 1918 Winchester made BAR I could afford...

therewolf
January 5, 2011, 06:34 PM
Buy enough land to have a nice gun range, maybe some woods to hunt in.

Then I'd get my name changed to "That's Not Him".

Hatterasguy
January 5, 2011, 08:26 PM
I would buy more real estate and turn it into a billion, toys are toys I'm happy with what I have. Once you have your living expenses covered money is kind of pointless, although the freedom it provides is nice. New cars and "stuff" while neat gets old after awhile. How many new Mercedes and $200k Porsche's do you need?

Freedom is what matters, being able to say hmm the weather around here sucks this week I think I'll head down to the Keys or maybe tour Italy for a month. Being able to do that is nice, I won't be their for awhile but I know some people who are and its pretty good.

longknife12
January 5, 2011, 08:30 PM
I would hear from distant relatives I never heard of! Next, hire a Lawyer.
Dan
:D

Hatterasguy
January 5, 2011, 08:33 PM
Learn how to say NO!:D

Most lotto owners go broke because they have the wrong mentality and can't handle the money.

Sniderman
January 5, 2011, 08:43 PM
I would be IMMEDIATELY contacted by 290 milliion "Lost" relatives! :what:

GambJoe
January 5, 2011, 10:17 PM
Nice to build a childrens wing at hospital.

Move to Paris and have a vaction home on the Med.

Definitly buy a few wall hangers, Flintlocks mostly.

FROGO207
January 5, 2011, 10:41 PM
The ATF would be too busy dealing with my paperwork and following me around to the gun stores to effectively bother anyone else until I was broke again.:D

Vyacheslav
January 6, 2011, 08:40 AM
i would buy a lot of guns, a huge house on about 1000 acres out west and their are a few soviet statues that i would like to have at the end of my driveway, im sure if i went back to the motherland we could work out a deal, lol

Soupy44
January 6, 2011, 11:25 AM
- My old college NCAA Rifle team is researching building a smallbore range, I guess I'd be able to make that happen

- Make a deal with the University in paying for the range to allow me to run a junior program out of it

- Buy lots of equipment for said junior program and possibly pay someone to manage it, who wouldn't want to have that job

- Donate money/form an endowment for collegiate shooting sports

- Buy some reloading equipment so I can finally get to shooting my service rifle in competition

- Buy a few more guns to allow me to fulfill my dream of getting my pistol and rifle distinguished badges

- PRACTICE A LOT

bigalexe
January 6, 2011, 03:14 PM
Yeah I'm late to the party here.

With 290mil and what I get after taxes I would start manufacturing.

69Falcon
January 6, 2011, 03:25 PM
I've never bought a lottery ticket. If I did purchase a winning lottery ticket I would put it away and tell no one.

Stumpknocker
January 7, 2011, 12:33 AM
Ah, to dream...

After my and the immediate family's bills are paid (student loans, cars, etc), I'd like to have the following:

A few thousand acre working ranch in south or southwest Florida (15K-20K) with orange groves and cattle, creating enough income to pay the help and taxes, maybe a little profit to play with. Set up some swamp buggies and run year-round hog hunts and seasonal deer, turkey. Of course, the requisite range and guest facilities. Then a small house (2500-4000 sq ft) with deep water access and a nice dock, with a 50+ foot Cabo or other sport fisher, maybe a couple of smaller boats for local waters. Spend several weeks each year cruising the Gulf and Caribbean fishing and diving. Come fall arrange a trip or two to Canada or out west to hunt elk and muleys, a little pheasant and grouse, maybe some duck and geese in Arkansas.

Maybe take 2 or 3 long international trips, maybe a safari or two. I'd visit Australia and Antarctica to say I've been to all 7 continents. Drop my wife off in Seoul to visit her family while I visit the Phillipines, Thailand, and a few other spots, then eventually return to pick her up! Ah, yes, it is good to dream from time to time!

SpaceFrank
January 7, 2011, 12:57 AM
1. Pay off credit card.
2. Get some work done on my daily driving car that I've been putting off.
3. Go through a non-firearms wish list I've been compiling. Maybe a few thousand $.
4. Dental work I've been putting off.
5. CHL. Finally.
6. Buy a nice house. Have a big safe installed in house.
7. Drop off a couple guns at the smith to fix minor issues.
8. Fun tactical/HD shotgun.
9. New extended barrel for the .45, threaded. Suppressor and tax stamp.
10. Accurization, barrel chop + muzzle device, VG or AFG, rail and red dot for the Mini-14.
11. Classic car goes to reputable company for restoration.
12. Finish pilot's license. Instrument rating. Multi-engine rating.
13. Holy ****-ton of ammunition for everything. Much range time.
14. Local advanced firearm classes. FRONT SIGHT CLASSES.
15. I don't know, a Coke?

Smoke break.

16. Investments. TBD.
17. Donate enough to the college so that they have to name a building after me.
18. Jet aircraft certification?
19. Sailboat.
20. M14 EBR.
21. Airplane.
22. More guns.
23. When my car breaks down, a better one.

silverking
January 7, 2011, 04:06 PM
I could probably be talked into taking a day off. Oh wait--I don't work.

Taurus 66
January 7, 2011, 11:48 PM
I would turn any sizeable lottery winning ($10 million or more) into something philanthropic. I think some of the money should be put to good use in getting people back to work.

It would all definitely begin in some other state (first of all) that wasn't so "business unfriendly" as is New York. I would seriously think about states like Tennesee or the Carolinas. That is likely an area where my business would be established.

As for firearms, I always wanted a .50 BMG rifle (and thousands of rounds of ammo) - which I could definitely never afford right now working a 40 hour week. After that I would back that up with a Springfield M1A, another AR-15, and a few more handguns, then I would be done.

My personal shooting range would have to be 1000 yards minimum, for the big caliber toys specifically designed to go long range ... probably be nothing less than a hundred acre lot ... and all fenced in.

WNTFW
January 8, 2011, 12:01 AM
I would go to Walmart and buy every box of .22LR they had.

You only live once.
My assistant would go to Walmart . . .

I would have fun - have a shoots where I hire hot chicks in bikinis and high heels to pick up brass.

Seriously, I would make donations to some shooting related causes. Really we don't need to win the lottery to do better. Because of this thread I will do something to benefit the local junior program.

I didn't know a lottery was up that high - never buy tickets. I might this once.

788Ham
January 8, 2011, 01:05 AM
First off, I'd give Theory 2 Million right off the top, tax free! After reading about his daughters kidneys, I'd do that, I could afford it. Then...............

All my bills would naturally be paid off, both cars paid for, and..... then I'd buy one of those fancy can't-hardly-keep-under-control Mustang Saleens! Just to travel back and forth to the grocery store. LOL I'd have a nicer home built, dead center in the middle of 500 fenced in acres, with electronic gates to keep relatives out! Pay off both brothers homes and all bills, make sure with investments they never have to worry about working again. Make some sizable contributions to charities of my choice. Then it would be time to do some world traveling: picture safari to Africa, go to Rome, Italy for a week, maybe England, if it doesn't rain, then take a month and go to Mexico, rent a house, all maids, butlers included, and just sit by the pool or go fishing every day. Maybe come home and see if Cheeves had mowed the lawn lately. Ha Its fun to dream, I'd like to belong to a couple of nice shooting ranges and be able to go shoot some new firearms, get a brother and sister to the Colt Python I now have, can't have too many Snakes around!

nwilliams
January 8, 2011, 01:48 AM
If I won the 290 million dollar lottery I would no doubt overindulge myself for the first few years.

Of course I'd buy whatever gun I wanted whenever I wanted. I would buy a nice house with lots of land so I could build my own range.

I would donate to charities and 2A support groups.

I would definitely try to help my family and friends live a more comfortable life.

The Undertaker
January 8, 2011, 02:23 AM
Acquire a series of profitable businesses arranged in a vertically integrated manner.

For example, I would own a young, innovative company such as Daniel Defense, a line of professional retailers to distribute the products, and a number of instructional programs designed for different skill levels aimed at teaching weapon proficiency.

I won't be spending a lot of personal indulgences. My own home, vehicle (I always wanted a Dodge Ram 2500), and life. That is all. Being young and having a strong work ethic means no slacking. A lack of dependents (no women or relatives outside of immediates such as the parents) also helps.

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