I'm hoping I make the cut of the list. I'll be hitting you up for donations to my favorite non-profit, though
My poker friend said he wouldn't buy a ticket unless he gets pot odds. Sounds like a good rule of thumb IMHO. Get an attorney to stay anonymous. Only immediate family and incredibly close friends would know, which might be 10 people. Making it public knowledge would be an absolute nightmare. Then I'd get Zaha Hadid and Rem Koolhaas to design and build my Tony Stark/Bruce Wayne/James Bond home. I'd still drive my 09 Camry and shop at cheap Spanish grocery stores though.
Taxes are going to raise next year on high income, so you'll want to take all you can this year at historically low rates. You are also not factoring in inflation. The money will never be worth as much as it is today. So you are correct. It would be the best choice to take it lump sum.
not sure what that means. lol. but it's silly to think by just telling your immediate family that no one else will find out.
I would take $10 - $50 million and use it as sponsor capital in a new alternative investment vehicle, hopefulyl raising another $300 - $500 million in one or multiple funds, attracting some ambitious partners to manage the platform and keeping a good percentage of the carried interest myself. Make smart investments and make back good money, plus promote other people's money. No brainer!
Can you set up a trust to claim the winnings since Powerball is a multi-state lottery? I know you can do that with the Texas Lotto.
I got LOTS of uncles, hence I got LOTS of cousins... which translates into INSTANT gossip and news travels FAST. FYI, I'm Mexican.
I would travel all over the world, buy a few houses and cars. Never work again. I would not be able to spend more than a few million a year so I'd probably die before I could use it all.
I'm assuming Texas has the Powerball? Lucky. Here in California we don't. I started playing scratchers at the beginning of this year and it's not too bad. I limit myself to $20 a week. Just this past weekend, I won $50 on a $5 scratcher, $50 on a $10 scratcher, and $100 on another $10 scratcher. I was stoked.
See, I don't trust other people with my money. Especially not with that much. $100M is a lot to risk. Its not as easy as you think. If you are serious about investing all that, you better be hands on or whoever you let do all the work for you is going to bend you over and stick it in without you looking. Those millionaires, worked their asses off to become a millionaire. In this case, it's a regular Joe becoming a millionaire by luck. Most regular folks have no idea how to invest that much money and are better off not doing that (I'd be chomping at the bits to help some mark "invest" their millions). And with $200M, I'm pretty sure I can stay a millionaire until I die.
there's always that one annoying guy who wants to be part of the pool but says, "buy my share. i'll pay you back."
http://youtu.be/QhJwCrFDcBw <iframe width="560" height="315" src="http://www.youtube.com/embed/QhJwCrFDcBw?rel=0" frameborder="0" allowfullscreen></iframe> :grin:
Eh, Goldmann Sachs would look at your $100M as a pittance. They took in $1.5 BILLION last quarter alone. I'd trust 'em to make my money grow. But of course, you gotta keep an eye on things. The same would be true even if you're just sitting on the money. Anyone who doesn't watch their money, no matter how much they have, is a fool. Not all of them. Many (I would argue, MOST of them) inherited their nest eggs and either live off them or grew them. But if you end up with a large portion of money ($10M or more), you should be able to grow it with minimal effort. Just don't swing for the homerun ball, the double-your-money schemes. They're just too risky. Play it safe, play it smart, and you, your family, and their progeny will be in the cheddar for the rest of their lives,
