OT - Managing Lottery Winnings

[Lord McBuckethead]

Person just won 500+ million, probably take home 200 million of that.
How would you guys manage all the random people that came up to you for help?

I would set up a charity with a 20% endowment to handle all of those request, personally. Family, I would set up a yearly stipend amount to assist in their lives, after I set up college funds for all my nephews.
And that would be that.

[BulldogDX55]

I'd say no.

[MedDawg]

Person just won 500+ million, probably take home 200 million of that.
How would you guys manage all the random people that came up to you for help?

I would set up a charity with a 20% endowment to handle all of those request, personally. Family, I would set up a yearly stipend amount to assist in their lives, after I set up college funds for all my nephews.
And that would be that.

nm

[Jack Lambert]

I would pay off my bills. Keep some for fun. Keep some for splurging. Put the remaining in a Fixed Annuity that had a seven years or less surrender charge. Interest doesn't worried me too much. Hell it's millions of dollars so I wouldn't need anymore and I like the security a fixed annuity gives until I retire then take periodic distributions from it.

[Lord McBuckethead]

I would invest in the S&P 500 and just let it sit in there. Double up every 8 years or so. At my age I have around 4 doubles left in me. So... 100 million doubled 4 times = I think I would be alright. Die a billionaire.

[Martianlander]

Just keep on living like I do now till it ran out. **

[louisvilledawg]

I would do two chicks at the same time.

**from the movie Office Space please don't tell my wife it was only a joke

[Statecoachingblows**]

[msstate7]

Can you win and remain anonymous?

[TUSK]

I would do two chicks at the same time.

Yeah, if you had $200M, you could probably hook that up....

I would get my mom a yard boy, a pool boy, a maid, a pool, a driver, pay off my siblings' debt so she wouldn't worry about them, buy all the land around me and landscape it for deer and weed, prolly start a non-profit for disabled vets and lil orphan kids, set up myself a non-taxable annuity type trust fund investment vehicle with which the interest alone would pay me $10K/mo for life, then I'd get a new Ferrari, drive it off a cliff in Hollywood while doing blow from the rack of Melania, skydive nekkid to ground, and blow the rest.

[Martianlander]

Can you win and remain anonymous?

I believe you can. There was a big deal at one time about not giving a lady her winnings if she didn't reveal her identity. Lottery finally relented and gave her the money. May be different rules in each state. Not sure about that.

[Cooterpoot]

I'd tell everybody to suck it. But that could cause some problem and tough decisions.....

[somebodyshotmypaw]

Can you win and remain anonymous?

I would certainly want to remain anonymous. I would quit my job and buy a Ferrari and a Rolls Royce. I would build a 30,000 square foot house with big gold dollar signs on the gate. I would have exotic animals like cheetas and pumas roaming inside the fence. I would wear rolex watches, expensive fur coats, and have bodyguards go everywhere with me. But I wouldn't tell anyone I won the lottery so that I could remain anonymous.

[Dawg61]

How would you guys manage all the random people that came up to you for help?

Tell them all investment decisions are made by "enter name" and you'll pass the request on up. Then tell them "good luck I hope "enter name" approves it for you". Then walk away and get a beer.

[THE Bruce Dickinson]

^^^^^

This is an "I'm above the law" type of mugshot

[Dawgbite]

I would certainly want to remain anonymous. I would quit my job and buy a Ferrari and a Rolls Royce. I would build a 30,000 square foot house with big gold dollar signs on the gate. I would have exotic animals like cheetas and pumas roaming inside the fence. I would wear rolex watches, expensive fur coats, and have bodyguards go everywhere with me. But I wouldn't tell anyone I won the lottery so that I could remain anonymous.

So, you secretly want to be Michael Jackson!

[KB549]

I was at my company?s national sales meeting down in Tampa. I was sitting at the dinner table with a coworker from Los Angeles who wasn?t in sales. He was probably making 60-70k a year. Little did we know, he got a call from his wife who was hysterical. She said we hit it! Turns out he was one of the 3 to hit it when it was at 1.5B. They didn?t claim it until end of May or so. They wanted the kids to finish school. Amazingly, he stayed at work until right before he went public (California is a public notice state). No one knew until we got an email from HR letting us know that he was claiming it and not to aknowledge requests from anyone with anything about him. He apparently took all the classes and got financial advisors and did well for himself. Couldn?t have happened to a nicer guy.

[Lord McBuckethead]

Yeah a financial adviser would be key. But got to watch their fees.

[sleepy dawg]

Person just won 500+ million, probably take home 200 million of that.
How would you guys manage all the random people that came up to you for help?

I would set up a charity with a 20% endowment to handle all of those request, personally. Family, I would set up a yearly stipend amount to assist in their lives, after I set up college funds for all my nephews.
And that would be that.

At 200 Million, I would see no reason to invest other than to spread it around. I'd keep large amounts in different banks and plenty of cash in safety deposit boxes.

I personally could not possibly spend 200 million. My tastes just aren't that outlandish.

Also, I wouldn't give anybody shit for a while. I would wait until everything settled down. By then some folks would've abandoned me I assume.