WWYD as a Powerball Boglehead Billionaire?

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WWYD as a Powerball Boglehead Billionaire?

Post by Swampy » Tue Jan 12, 2016 12:13 pm

Assuming you were to win the Powerball Lottery this week, which is somewhere around $1.4-1.5 Billion, how would you handle it?

I haven't bought a lottery ticket in years, but am making a one time exception for this first billion dollar prize.
$2 can still buy a dream or two.

In the unlikely event of actually striking it rich, I'd keep quiet and assemble a small team consisting of a lawyers, CPA's, tax specialists, set up a trust, try to stay out of the public eye and paparazzi spotlight as I 'disappear' for a few months with my family while we sort out what to do. This kind of wealth is dynastic wealth and can do a lot of good if used properly. But, surprisingly, even billionaires can go broke - http://fnresearch.com/11-billionaires-w ... etirement/

A neighbor of mine down the block actually won $8 million one Saturday night about 25 years ago. The only tip off that 'something was out of the ordinary' was the police car parked in front of the house for the next few days (I guess till he redeemed the winning ticket).

So, have at it and tell us what you, in your wildest dreams, would want to do.
Someone somewhere will soon join the exclusive billionaire's club (before taxes). :sharebeer
If you fail to plan, you plan to fail. | Failure is not an option. | If I have seen further, it is because I was carried on the shoulders of giants.

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Re: WWYD as a Powerball Boglehead Billionaire?

Post by gardemanger » Tue Jan 12, 2016 12:14 pm

I'm bored of this game.

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Re: WWYD as a Powerball Boglehead Billionaire?

Post by nisiprius » Tue Jan 12, 2016 12:28 pm

Q; "What would you do as a Powerball Boglehead Billionaire?"

1) Take the lump sum and gripe that it's not a full billion.

2) Explain to myself why I deserve it.

3) Reinvest the proceeds in more Powerball tickets in hope of building up to a full billion.
Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness; Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery.

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Re: WWYD as a Powerball Boglehead Billionaire?

Post by Alex Frakt » Tue Jan 12, 2016 1:17 pm

Locked. Non-actionable.

Unless you win. In which case you are welcome to ask for advice.