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

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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.
 
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
 
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.
 
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.
 
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.
 
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.
 
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.
 
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.
 
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!
 
IncredibleGord said:
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?
Click to expand...
I'd buy the BAFTE and disband it.

Take one for the team. :)
 
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.
 
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.
 
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.
 
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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.
 
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.
 
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.
 
Personally though, I consider the lottery a tax on people who are bad at math.
Click to expand...

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).
 
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. 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).
 
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...
 
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.
 
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.
 
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