ambush
Member
I'd give it all to the person that brought me the head of osama bin-laden
Lottery Winnings... What would you do?
- Thread starter learn2shoot
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NRA4LIFE
Member
I'd buy 5000-10000 acres in MT, ID or WY and a big-ass bulldozer.
Forget the lawyer/accountants. Just putting $50 mill in the bank at 3% will give you 1.5 million a year ! I'd call that comfortable income.
If you shop around you could even find a bank wiling to give you more interest. Taxes would be simple. Pay taxes on the interest you get. No other income for Uncle to screw with, and no accounts/lawyers getting rich on your money.
My feeling is keep it simple.
Father Knows Best
Member
DF357 said:
That's a really REALLY bad idea. First of all, putting all your money in one bank is idiotic. That's called "putting all your eggs in one basket." That bank may fail. Your deposits are only insured by FDIC to something like $100,000. You do the math.
Second, inflation will kill the value of that money over time.
Third, you're still spending a TON in taxes.
Fourth, you have no protection of your assets against creditors. You get into a fatal motor vehicle accident (they happen), and kiss that entire nest egg good-bye.
Fifth, you have no way to give any of that money to anyone you care about without the gift being taxed by Uncle Sam and the states. Got kids or siblings or nephews/nieces or just friends you want to help? Get ready to pay the tax man.
Sixth, whatever you may have left when you die will again get heavily taxed. Your heirs will get only pennies on the dollar compared to your original winnings.
Rich people use lawyers, accountants and professional money managers for a reason -- they work. When you have that much money at stake, it's worth it to spend a few hundred grand a year to people who know how to protect you.
silliman89
Member
Well, I'll admit that my budget doesn't allow me to be looking.
So I'm not sure about that. (I think you could buy Clipperton Island from the French pretty cheap, and you might be able to just claim it.)The key seems to be, what's a decent island? Suppose you got a sandbar with no fresh water supply? Those must still be available. For a few million I imagine you could set up a solar desalinization plant and ship in topsoil to support a family, garden, and shade trees.
Keep in mind that the islands they're building in Dubai don't have a water supply either. They have a pipeline to the city of Dubai. (Where they get water from the Gulf via desalinization plants.)
Personnally, I think I'd go for a few acres on someone else's island, like Fiji. I sometimes get lonely.
1. call my accountant/tax guy, tell him the first million is already spent, get some steady tax wise investments that allow me to live fat off the interest and keep teh money growing.
2. on class 3 stuff with Colt logos and fast cars.
3. skull shaped island
4. variety of start up businesses. Publishing (magazines/books/music), sports (I want to own a roller derby team), film production company.
5. charity/bribes
2. on class 3 stuff with Colt logos and fast cars.
3. skull shaped island
4. variety of start up businesses. Publishing (magazines/books/music), sports (I want to own a roller derby team), film production company.
5. charity/bribes
Father Knows Best
Member
It depends on the rules of the lottery. As far as I know, nothing prohibits a legal "person" other than an individual human being from being the rightful owner of a winning lottery ticket, and the rightful recipient of the proceeds. It is quite common for multiple people to own "shares" in a lottery ticket, such as when they pool their money to buy tickets. Unless something specific in state law or the lottery rules prohibit it, corporations, foundations and other organizations should be able to purchase and own lottery tickets, and receive the proceeds as their own income.
Jeff Timm
Member
Number One, get a support force. http://www.note.com/note/pp/jackpot.html
Number two, take the money over 30 years.
Number three, work like hell for the Fair Tax! http://www.fairtax.org/
Geoff
Who has to go to dinner now, my wife is harrassing me.
She says she's not harrassing me, she's just reading over my shoulder.
Number two, take the money over 30 years.
Number three, work like hell for the Fair Tax! http://www.fairtax.org/
Geoff
Who has to go to dinner now, my wife is harrassing me.
She says she's not harrassing me, she's just reading over my shoulder.
Well if I won 100 million and if I took it as a lump sum, then after tax I'd have...100 million - no tax on lottery winnings and its just a lump sum in the UK
In 1989 a legal Ruger GP100 cost me around $400 in the UK, but these days 100 million wouldn't be enough to get one legally, so I'd immediatly buy the right lawyers so I could move to a gun friendly state in America.
In 1989 a legal Ruger GP100 cost me around $400 in the UK, but these days 100 million wouldn't be enough to get one legally, so I'd immediatly buy the right lawyers so I could move to a gun friendly state in America.
wingnutx
Member
I'd buy a huge piece of land that runs along the arizona/mexico border, and use it to create a big-cat preserve.
Hop that fence all you want, Paco.
Seriously, I'd buy LAND.
Hop that fence all you want, Paco.
Seriously, I'd buy LAND.
learn2shoot
Member
Why Wait
What is stopping you? You should come over while you can. What is your vocation? Someone here might know someone that has something for you, and can sponsor an H1.
What is stopping you? You should come over while you can. What is your vocation? Someone here might know someone that has something for you, and can sponsor an H1.
I wouldn't tell anyone. In the short term, nothing would visibly change (I'm self employed and single, no one really knows how much or how little I work). I would move to a moderate house on the edge of a LOT of land, but no one would know how much land I owned. I would probably always have a recent model car and/or truck, but not more than two at a time, and nothing out of the ordinary. I'd want to remain "normal", and know who my friends are. Speaking of friends, I'd have to find some sort of anonymous way to make their bills and debts disappear - I'm not sure how that would work, but I'm sure there's a way.
I think I would start an "angel fund" for start-up companies, hard working individuals with dreams and good ideas who just need a boost to get started. Other than that, I'm sure I'd come across good causes to support, and good people to help out.
I've got my tickets. Good luck to us all.
I think I would start an "angel fund" for start-up companies, hard working individuals with dreams and good ideas who just need a boost to get started. Other than that, I'm sure I'd come across good causes to support, and good people to help out.
I've got my tickets. Good luck to us all.
cracked junior
Member
if i could, i would keep it a secret. i would pay all debts in my family, like parents, 2 brothers and thier families. start a college savings fund for my kids, neices and nephews. get myself a nice truck, a nice car, restore my 67 mercury cougar, get a nice house, nothing like a rock star but something nice. a really nice shop since i am a automechanic and love to tinker with things. buy some land so i can say i own land. also withdrawal a good portion in cash. and hide it around the house and shop, like bury it in containers. so someday when computers shut down and all my bank accounts are wiped out. i still have cash money hiding around. stock pile goods, ammo, have many guns. then invest the rest of it, live off the interest
MountainPeak
Member
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I will never forget my friends! I always tell them, after my win, I will send a card, where ever I end up at!!!
Geronimo45
Member
1. Buy lots of gold. Slowly, so as not to arouse suspicioun, and as cheap as possible.
2. Spend in the neighborhood of two million on firearms. A Thompson, an American 180, many suppressors. A Mauser 712.
3. Spend a million on ammo.
4. Start up a company that made classic firearms in modern calibers, with match-grade barrels as stock issue.
5. Start up a chain of gun clubs... thought of the name Club Parabellum. They'd have food in one end of the building, weapons in the other. If you wanted the Tommy gun that's stored in Club #14, you just send a check and order form and it comes over to yours for a while. Could even have 'rounds' for each Class III gun - it'd come through Alaska for a week or two, spend a few weeks in Arkansas, etc. The Club Parabellum range would be free for all members. Non-member would pay a fee. Any ammo would be allowed for members. Possible restrictions for non-members, however.
2. Spend in the neighborhood of two million on firearms. A Thompson, an American 180, many suppressors. A Mauser 712.
3. Spend a million on ammo.
4. Start up a company that made classic firearms in modern calibers, with match-grade barrels as stock issue.
5. Start up a chain of gun clubs... thought of the name Club Parabellum. They'd have food in one end of the building, weapons in the other. If you wanted the Tommy gun that's stored in Club #14, you just send a check and order form and it comes over to yours for a while. Could even have 'rounds' for each Class III gun - it'd come through Alaska for a week or two, spend a few weeks in Arkansas, etc. The Club Parabellum range would be free for all members. Non-member would pay a fee. Any ammo would be allowed for members. Possible restrictions for non-members, however.
Nightfall - That's the same question I would ask. How did I win when I don't play the lottery? A local gas station that I frequent has a big sign behind the counter that says "Playing the lottery is not a career choice". I chuckle every time I see it.
Actually a 501 C3 can be set up in a week. Once the ticket is the domain of the foundation, all claim to the ticket is waived. See the man who one a million dollar ticket on mcdonalds monopoly and gave the winning ticket to St Judes Childrens hospital, no tax liability was ever found. ONce the ticket is handed over to the foundation/trust/tax exempt organization, the feds and state loose all claim to it.
A 501 c3 is how we set up both the charitable gambling booths and the hockey associations that I have been involved with. Both were done in a week or less. As for the IRS, As long as i am giving away money as described in my charter, they can pound sand. I was involved in a pull tab operation that included the line "and to any such deserving individual as the board may deem worthy." with that line we were able to give a large sum to a coaches wife's medical expenses and we passed IRS scrutiny. With almost any trust/foundation you are going to get examined fairly closely the first few years, then you will get less and less intervention as time goes on.
I am also aware of the purposes of foundation and trusts on a personal level as I am on the board of a fairly large one. as long as the charter is legal and the giving follows the charter. you are pretty much clear.
Note that as a board member of a foundation, any compensation I recieve from that trust is fully taxable as income, once my expenses are deducted.
A 501 c3 is how we set up both the charitable gambling booths and the hockey associations that I have been involved with. Both were done in a week or less. As for the IRS, As long as i am giving away money as described in my charter, they can pound sand. I was involved in a pull tab operation that included the line "and to any such deserving individual as the board may deem worthy." with that line we were able to give a large sum to a coaches wife's medical expenses and we passed IRS scrutiny. With almost any trust/foundation you are going to get examined fairly closely the first few years, then you will get less and less intervention as time goes on.
I am also aware of the purposes of foundation and trusts on a personal level as I am on the board of a fairly large one. as long as the charter is legal and the giving follows the charter. you are pretty much clear.
Note that as a board member of a foundation, any compensation I recieve from that trust is fully taxable as income, once my expenses are deducted.
Prince Yamato
Member
After I spent the money on my family I'd
1) Replace my entire wardrobe with 3-piece suits and tuxedos.
2) Buy a full-auto Ak-47, UZI full size, M-16, and Thompson
3) Buy a large supply of ammo
4) Buy a fancy car
5) head to local range in fancy car and three piece and shoot my guns.
1) Replace my entire wardrobe with 3-piece suits and tuxedos.
2) Buy a full-auto Ak-47, UZI full size, M-16, and Thompson
3) Buy a large supply of ammo
4) Buy a fancy car
5) head to local range in fancy car and three piece and shoot my guns.
Jeff Timm
Member
The mega ball was won. One winner.
5/5 + Mega Ball 1 Est. $163 million
Sigh, it wasn't me.
Geoff
Who is thinking about road trip today to the nearest Power Ball State, $157 Million Estimated.
5/5 + Mega Ball 1 Est. $163 million
Sigh, it wasn't me.
Geoff
Who is thinking about road trip today to the nearest Power Ball State, $157 Million Estimated.
Working Man
Member
Tithe.
Then I would set up my folks so they could do whatever they pleased.
They have worked hard all their lives, time for them to do the things they want
without financial worry. The foundation of self-reliance bestowed unto me by
my father can never be repaid. Regardless of what I have accomplished myself
the path would lead to a different place today without it. The fact that we
don't see eye to eye on many things is of no matter in the case.
Next I would set up some funds for a select few other family members and
pay their debts off. I'd simply even the playing field for a few friends and that's
it for the direct charity.
A few Medical donations would be made.
A reasonable and secure home. Land to maintain as wooded land and others
to develop. A nice cabin as well.
Various investments. A smaller percentage would be spent on firearms and
equipping certain individuals. Also RKBA groups.
Lots of firearm training including gunsmithing.
Take classes in whatever interests me.
A good machine, automotive, and woodshop.
No need for flash or fast women. I would keep my resources a secret until I
met the right woman. No need for several cars, trucks, or motorcycles.
I will still mow my own lawn and work on my own truck.
I will still wear jeans most of the time.
Then I would set up my folks so they could do whatever they pleased.
They have worked hard all their lives, time for them to do the things they want
without financial worry. The foundation of self-reliance bestowed unto me by
my father can never be repaid. Regardless of what I have accomplished myself
the path would lead to a different place today without it. The fact that we
don't see eye to eye on many things is of no matter in the case.
Next I would set up some funds for a select few other family members and
pay their debts off. I'd simply even the playing field for a few friends and that's
it for the direct charity.
A few Medical donations would be made.
A reasonable and secure home. Land to maintain as wooded land and others
to develop. A nice cabin as well.
Various investments. A smaller percentage would be spent on firearms and
equipping certain individuals. Also RKBA groups.
Lots of firearm training including gunsmithing.
Take classes in whatever interests me.
A good machine, automotive, and woodshop.
No need for flash or fast women. I would keep my resources a secret until I
met the right woman. No need for several cars, trucks, or motorcycles.
I will still mow my own lawn and work on my own truck.
I will still wear jeans most of the time.
DRZinn
Member
Buy a house with enough land for a 1000 yard rifle range and no complaints. Then buy a house for my dad. Then my mother. Then my mother-in-law. Then invest the rest earning hopefully 10% and travel the world.
jdomin
Member
go around helping famlies reduce their debt, set up college scholarships for the right kind of kids, buy a large company to employ those who want a job,all this without any reconigtion to me.
MudPuppy
Member
I'd for sure get ice cream on the way home.
Other than that, I'd probably make indie films to counter Michael Moore's propaganda.
Then I'd get some more ice cream.
Other than that, I'd probably make indie films to counter Michael Moore's propaganda.
Then I'd get some more ice cream.
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