Latestarter's ramblings/musings/gripes and grumbles.
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- #5,653
I am sure, beyond any shadow of a doubt, that should I win, I'd have uncountable new friends, relatives, and suitors... Not to mention investment opportunities, charitable requests, money making schemes, and all that goes with becoming instantly rich...
On a brighter note, it's back to raining again... Needed a filling dinner that would "stick to my ribs" so made sausage gravy and biscuits... Yum!
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On a brighter note, it's back to raining again... Needed a filling dinner that would "stick to my ribs" so made sausage gravy and biscuits... Yum!
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Wehner Homestead
Herd Master
That’s definite comfort food!
Rammy
Herd Master
I was reading about the do's and donts if you won. First rule is, tell no one. Second is to have a trust set up to accept it for you and then put it in a bridge trust so its harder to find out who won it. And dont forget to get good lawyers.
I also saw a story about what happened to.people who did win. Most went broke because of mismanagement, new found friends, new found relatives, or out right killed. So first rule of win, shut up, and tell no one sounds pretty good.
I also saw a story about what happened to.people who did win. Most went broke because of mismanagement, new found friends, new found relatives, or out right killed. So first rule of win, shut up, and tell no one sounds pretty good.
Mike CHS
Herd Master
Sausage gravy and biscuits pretty much covers all of the food categories of Good Good and Good 
Baymule
Herd Master
Something about a man who goes commando, wrapped up in $100 bills, can be mighty attractive...….
Mike CHS
Herd Master
That one definitely got a laugh.
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- #5,660
And Lord knows It would take quite a few bills to cover this body commando! 
Should the impossible happen, I wouldn't claim it directly. First hire a lawyer or two (tax and liability), a CPA or two with extensive tax background, a team of investment advisers, and then get everything set up beforehand with trust(s), foundations, tax exempt charities, and corporations etc... THEN claim it. Since my 3 kids would be claiming it with me as partial owners of the ticket, they would have to be here and get their stuff all set up in advance as well. No sense in me winning it all then giving it to the kids to be taxed a 2nd time by uncle scrooge... ummm I mean sam... They'd be 5% winners so get over $25 mil each before taxes. I'd still have over $275 mil after taxes. I don't know if that's enough for me to live the life I desire... Might be broke inside a year...
Reality check... Yeah... I would spend some, but think about it... If the winner didn't invest a penny, and spent a million dollars a year, that's $83,334/month, $3,195/day - 6 days a week, every week (I allowed a spending day of rest on Sunday)... it would last 275 years!
Invested at a reasonable 1.5% interest, they'd be earning over 4 million a year or 2.6 mil after (36%) fed taxes. They'd have to spend that too in order to be bankrupt after 275 years... A mere $11,500.00/day, 6 days a week, $300,000.00/month.
So here's the real mind bender... I'm 61. I don't expect to live past my mid 80s. No male on either side of my family ever has. So IF I were to win (273mil:1 odds) Figure I have 25 years to spend it all. That's 11 million a year for 25 years NOT including any earned interest on investments. That's almost a million dollars a month...
Sure would be nice...
Should the impossible happen, I wouldn't claim it directly. First hire a lawyer or two (tax and liability), a CPA or two with extensive tax background, a team of investment advisers, and then get everything set up beforehand with trust(s), foundations, tax exempt charities, and corporations etc... THEN claim it. Since my 3 kids would be claiming it with me as partial owners of the ticket, they would have to be here and get their stuff all set up in advance as well. No sense in me winning it all then giving it to the kids to be taxed a 2nd time by uncle scrooge... ummm I mean sam... They'd be 5% winners so get over $25 mil each before taxes. I'd still have over $275 mil after taxes. I don't know if that's enough for me to live the life I desire...
Might be broke inside a year... Reality check... Yeah... I would spend some, but think about it... If the winner didn't invest a penny, and spent a million dollars a year, that's $83,334/month, $3,195/day - 6 days a week, every week (I allowed a spending day of rest on Sunday)... it would last 275 years!
Invested at a reasonable 1.5% interest, they'd be earning over 4 million a year or 2.6 mil after (36%) fed taxes. They'd have to spend that too in order to be bankrupt after 275 years... A mere $11,500.00/day, 6 days a week, $300,000.00/month. So here's the real mind bender... I'm 61. I don't expect to live past my mid 80s. No male on either side of my family ever has. So IF I were to win (273mil:1 odds) Figure I have 25 years to spend it all. That's 11 million a year for 25 years NOT including any earned interest on investments. That's almost a million dollars a month...
Sure would be nice...
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