Rep Retirement Lodge 198 - A New Season Begins...

[St. Clown]

Re: Rep Retirement Lodge 198 - A New Season Begins...

I received $14.9M from Mrs. Christy Walton. The total is now $908,414,183.42.

Coincidentally, that's roughly the same payout as what the winner of the $1.6B Mega Millions lottery will take home - pre-tax, of course.

[FadeToBlack&Gold]

Re: Rep Retirement Lodge 198 - A New Season Begins...

No good can come from winning that much money all at once.

[Scarlet]

No good can come from winning that much money all at once.

Maybe. I’d like to try it and see if you’re right.

[Twitch Boy]

Re: Rep Retirement Lodge 198 - A New Season Begins...

No good can come from winning that much money all at once.

Step 1 is the Fark Independent 101 **** AND GIVE ME ALL THE LAWYERS NOW PLS, but even so at that dollar level there's no guaranteeing that someone less than scrupulous isn't going to take you for a ride. Especially once you start getting financial planners involved...

[leswp1]

Re: Rep Retirement Lodge 198 - A New Season Begins...

No good can come from winning that much money all at once.

we were talking about that the other day. lilnsl said he would put it all in a trust and live like a normal person. I don't think that would be possible.

Step 1 is the Fark Independent 101 **** AND GIVE ME ALL THE LAWYERS NOW PLS, but even so at that dollar level there's no guaranteeing that someone less than scrupulous isn't going to take you for a ride. Especially once you start getting financial planners involved...

Um, with that much money you would probably still make it ok.

[Hammer]

Re: Rep Retirement Lodge 198 - A New Season Begins...

we were talking about that the other day. lilnsl said he would put it all in a trust and live like a normal person. I don't think that would be possible.

No. He would not. My sister and I had a conversation about that the first time there was a $1 billion jackpot.

If you hit that by yourself, you gotta go. Somewhere. Elsewhere. You can't stay where you're at. Anyone and everyone that thought they knew you at any point in your life is going to come out of the woodwork. Everyone that thinks they might be related to you, eight times removed. That kid you rode the school bus with, back one afternoon on a 3rd grade field trip, the one that split his cookie with you? YOU OWE HIM!!! And when interest is figured in, the way they see it, you owe them about $400,000 for that cookie. And there's going to be tons of people like that. And a simple "no" isn't going to suffice, especially when they figure out where you live (and they will). Have a family? If you stay where you are, they're targets now. Think you're going to keep a billion dollar jackpot a secret? Yeah, right. You'd have better luck hiding a nuclear power plant in your back yard.

That kind of money changes your life, whether you want it to or not, in ways most people cannot comprehend.

[Twitch Boy]

Re: Rep Retirement Lodge 198 - A New Season Begins...

No. He would not. My sister and I had a conversation about that the first time there was a $1 billion jackpot.

If you hit that by yourself, you gotta go. Somewhere. Elsewhere. You can't stay where you're at. Anyone and everyone that thought they knew you at any point in your life is going to come out of the woodwork. Everyone that thinks they might be related to you, eight times removed. That kid you rode the school bus with, back one afternoon on a 3rd grade field trip, the one that split his cookie with you? YOU OWE HIM!!! And when interest is figured in, the way they see it, you owe them about $400,000 for that cookie. And there's going to be tons of people like that. And a simple "no" isn't going to suffice, especially when they figure out where you live (and they will). Have a family? If you stay where you are, they're targets now. Think you're going to keep a billion dollar jackpot a secret? Yeah, right. You'd have better luck hiding a nuclear power plant in your back yard.

That kind of money changes your life, whether you want it to or not, in ways most people cannot comprehend.

CO lets you designate a trust to claim the ticket on your behalf, and with some slick lawyering you can put some distance between your name and the money.

Still, this is 2018 - one Millennial fifth cousin with too much time on his hands and you're a superstar.

[The Rube]

Re: Rep Retirement Lodge 198 - A New Season Begins...

I'd contact my family's money guy, as he's been with them for years, and is trustworthy. And then of course, lawyer up.

Your life would definitely change, I would still try to keep it as normal as possible, though. You wouldn't find me buying up businesses or starting up restaurants or anything. Might get a nice Wrangler for winter or something. Definitely would get a converted Greyhound (one that is basically an apt on wheels) and travel around the country a little.

[Twitch Boy]

Re: Rep Retirement Lodge 198 - A New Season Begins...

There's a copypasta from AR15.com (of all places) that's well worth reading on just how farked you are if you win, and what to do.

https://www.ar15.com/forums/general/-/5-749519/?page=1

My plan:

1) Lawyer. Big one. Partner level. Out of state, big city.
2) Have lawyer set up a whole mess o' trusts.
3) Lawyer claims ticket using a trust, take the lump sum, get Uncle Sam's share out of the way.
4) 25 percent to family in a trust. They are to be informed in no uncertain terms that this is it, they are not to expect any further contact. Lawyer will manage trust and hopefully prevent them from Kardashianizing themselves.
5) At this jackpot level, to be honest just throw most if not all of it into US Treasury bills. Keep it simple, stupid. Minimize hands in proximity to the cookie jar. Those will make more than enough interest to live comfortably. Maybe a little in Germany or Switzerland just in case we elect Lady Gaga next time or something.
6) 10 percent to me free and clear, to assist with Steps 7 and 8.
7) GET. THE. FARK. OUT. Ghost. Quit job first, though. Total makeover. Hire a PR company to obliterate social media, possibly even set up bogus profiles to throw people off. Burner phones. Only contact in phone is the lawyer. Go to one of those places Rockapella sang about for 2/3 years or so.
8) Fun time stuff: penthouse suite in Vegas, personal arcade loaded with pinballs and monster MAME cabinets, loaded RV with car transporter, "fark you money" tier cars yet ones that are somewhat daily drivable (to be honest a 911 Turbo S, Nissan GTR, McLaren 720S, and/or '05 Ford GT would work just fine. Maybe a Koenigsegg Agera just for lulz.)

[The Rube]

Re: Rep Retirement Lodge 198 - A New Season Begins...

I would definitely blow some of the money (a couple hundred thousand). Good idea on the PR firm. Totally agree in limited hands in the cookie jar.

I did forget one promise I made to a couple close friends:
Fly to Vegas, my dime, private jet. The ones I invited will get 10K (IIRC that is the limit before they are taxed) each. HOWEVER: they must put all of that 10K in gambling. Whatever they win, they win. But that 10K must be gambled with. I like having a little chaos happen.

And I'd wipe my arse with $100 bill, just to say I did it.

[FadeToBlack&Gold]

Re: Rep Retirement Lodge 198 - A New Season Begins...

We were talking about that the other day. Lilnsl said he would put it all in a trust and live like a normal person.

LOL, funny.

[Twitch Boy]

Re: Rep Retirement Lodge 198 - A New Season Begins...

I'd start a foundation of some sort once I got to my "can't take it with you" days as well. Problem is most charities are scummy AF - I want my money to do the most good possible, so I honestly wouldn't know what to fund.

Also, tSBFitW gets the works. Top of the line instruments, practice space, big ol' Madden cruisers, custom music/ditty/skit/whatever writing staff.

[The Rube]

Re: Rep Retirement Lodge 198 - A New Season Begins...

I guess, I don't know what it's like to have a lot of money, much less THAT kind of money. After the initial spending spree, which would barely dent what I actually would have, I wouldn't really know what to do with it/how to spend it. Maybe get that steak that's a little more expensive when I eat out? *shrug*

I think it goes without saying among any of us, that some would be given to some charitable causes/etc.

[Twitch Boy]

Re: Rep Retirement Lodge 198 - A New Season Begins...

My big concern would be buying stuff with utility. Why buy a mansion I'll use 10 percent of if I'm lucky? The penthouse suite would be more useful and probably a heck of a lot more fun. Likewise, I'd buy a Chiron and it would become a garage queen.

[bostonewe]

Re: Rep Retirement Lodge 198 - A New Season Begins...

There's a copypasta from AR15.com (of all places) that's well worth reading on just how farked you are if you win, and what to do.

https://www.ar15.com/forums/general/-/5-749519/?page=1

My plan:

1) Lawyer. Big one. Partner level. Out of state, big city.
2) Have lawyer set up a whole mess o' trusts.
3) Lawyer claims ticket using a trust, take the lump sum, get Uncle Sam's share out of the way.
4) 25 percent to family in a trust. They are to be informed in no uncertain terms that this is it, they are not to expect any further contact. Lawyer will manage trust and hopefully prevent them from Kardashianizing themselves.
5) At this jackpot level, to be honest just throw most if not all of it into US Treasury bills. Keep it simple, stupid. Minimize hands in proximity to the cookie jar. Those will make more than enough interest to live comfortably. Maybe a little in Germany or Switzerland just in case we elect Lady Gaga next time or something.
6) 10 percent to me free and clear, to assist with Steps 7 and 8.
7) GET. THE. FARK. OUT. Ghost. Quit job first, though. Total makeover. Hire a PR company to obliterate social media, possibly even set up bogus profiles to throw people off. Burner phones. Only contact in phone is the lawyer. Go to one of those places Rockapella sang about for 2/3 years or so.
8) Fun time stuff: penthouse suite in Vegas, personal arcade loaded with pinballs and monster MAME cabinets, loaded RV with car transporter, "fark you money" tier cars yet ones that are somewhat daily drivable (to be honest a 911 Turbo S, Nissan GTR, McLaren 720S, and/or '05 Ford GT would work just fine. Maybe a Koenigsegg Agera just for lulz.)

Having hypothesized about what it would be like for years, it's good to know that I am more or less on the right track with plans (at least according to the link you posted). I would definitely never want my name associated with the win -- in NH, you can claim as a trust, but you have to have it set up before you claim. You also don't pay any state taxes on your winnings.
I've always said that I'd want to buy a chunk of land either in the West or in Vermont and live privately for awhile to just get away from everything, so that would be appealing.