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Post by father of two on Dec 17, 2013 12:55:28 GMT -6
If I were to hit the mega millions tonight I would give my Mother in law 5 mil, each of my brothers and sister and in laws 2 mil each. Each niece and nephew a mil. I would then look for 3-5 businesses that I could buy from another town or state and move them here to bring life back to town.
Of course I would also buy a couple vacation homes in some warm places.
I would also help the schools to bring back cut programs, jobs and benefits.
What would you do if you won?
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Post by iluvstreator on Dec 17, 2013 13:19:17 GMT -6
Probably like you, father of two, give a lot of it away so that life would be better fo others. I'm really pretty happy with my life, so would do what I could to help family and close friends.
I just heard on the radio last night that 70% of all lottery winners have spent ALL of their winnings within the first 5 years. This doesn't mean it was reinvested for a later time, either. The newscaster said it was spent, lost or given away. Hard to believe that nothing would be left after just five years. I know I would have a big chunk saved and invested.
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Post by dive61364 on Dec 17, 2013 15:04:52 GMT -6
there was a reality show on TV awhile back about lottery winners. it showed how winning the lottery ruined their lives and caused more problems then they had before they won. most started spending and borrowing their winnings before they even got the first check. i would give some to my relatives and invest most.
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Post by father of two on Dec 17, 2013 16:03:58 GMT -6
One of the things to do is set up a corporation and then pay yourself out of that. Set it up so that you can't get the money out all at once. Don't put all the money in it but I would say half. That way you should have income for a long time. The other thing you could do is take it in the annual payments. That way if you screw up the first year you get a do over the next.
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Post by dive61364 on Dec 17, 2013 16:11:22 GMT -6
very good information FOT but at my age I will probably die before I could spend that much lol.
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Post by dumdave on Dec 18, 2013 9:48:33 GMT -6
I read that the best thing to do is hire a good financial planner and an attorney before you cash in.
HAVE A PLAN OR MAKE A PLAN IF YOU WIN.
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Post by father of two on Dec 18, 2013 10:06:55 GMT -6
Still dreaming, back to reality
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Post by super on Dec 18, 2013 10:22:13 GMT -6
You would be better off to give your money to charity than to win the lottery.
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Post by toshiko on Dec 18, 2013 11:42:07 GMT -6
2 winners. Has anyone come/came forward?
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Post by chevypower on Dec 19, 2013 0:09:06 GMT -6
One out of California And the other Georgia. Too bad they were out of state, could of at least been in State to help out with even to spend more tax money to help Illinois out lol.
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Post by no1inparticular on Dec 19, 2013 12:30:05 GMT -6
The winner in CA will pay 41% in taxes, the one in GA only 19%...Not sure I'd want to win such a large sum with this states tax rates...But I wouldn't turn it down...
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Post by endless1summer on Dec 19, 2013 19:57:32 GMT -6
to quote Homer Simpson if I won......."i'm gonna drink a lot of beer and stay out all night"
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Post by chevypower on Dec 20, 2013 2:10:28 GMT -6
True story, someone gave a certain person a winning lotto ticket, that was 4.000.000.00 and it was one of them fake ones of course........ the guy never knew...... so He called up His Boss and told Him off big time lol needless to say He lost His job and never got to cash in lmao (Duh) WHAT A MORON.
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Post by endless1summer on Dec 20, 2013 6:59:04 GMT -6
to quote Homer Simpson if I won......."i'm gonna drink a lot of beer and stay out all night" I bet he would make it all the way to Moe's, tell off Mr. Burns, quit his job and find out it was all a mistake. DUH-OOHH I find myself saying " duh-oohh every time I check those numbers............. |
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Post by helencrump on Dec 22, 2013 10:22:02 GMT -6
I wouldn't change much. I wouldn't start buying expensive things, etc. I would help my kids, of course. But I wouldn't hand over money. I would sit down with them and discuss their needs. I would definitely do things to improve the community. Like investing in a company or two, to bring them to town. And I would keep working. I like my job. Of course I'd cut back my hours...lol
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