Powerball jackpot grows to record $1.9 billion as no tickets matched all winning numbers Saturday

[eman623]

You can form an LLC, and receive the money anonymously in many states. There's no need to tell a soul. You can make your major purchases through an LLC or Trust. If you chose to assist someone or some org, you can do it anonymously through your attorney, LLC, or Trust.

Check-out the way these guys below handled there stuff. IMO, they (& their attorney) had their act together. That's exactly what I would do. Good for them!

The secret millionaires next door

Somewhere in Chicago live a modest, middle-class couple with two teenage children and a $30 million secret. They recently won the Illinois Lottery, but have yet to tell friends, family or even thei…

www.chicagotribune.com

Sounds like a lot of work. And God forbid someone in my family spills the beans and outs me. Or do I have to keep my wealth secret even from my closest loved ones? That's not gonna work. That would probably end in divorce and I don't wanna get divorced.

And what do I get for all of this? Money I can't spend without drawing too much attention to myself? If I buy a Maserati where would I park it?

BTW, your link is broken. It clicks through to a story about Kamela Harris stumping for some candidate named Bailey.

 

[eman623]

What would I do? I'd form an LLC to anonymously receive the cash, and never, never, never, tell a soul!

Then I'd move somewhere where I can get some acres around me, get a crack security team, and entertain as few visitors as possible.

Sounds like a lonely and isolated life. OTOH, if that floats your boat, go for it.

 

[EMNofSeattle]

It's just a shame too many lottery winners ended up wasting away their winnings rather than putting it away to preserve and grow the wealth.

The vast majority of people who buy lottery tickets are very poor. Whatever can be said about poverty in America, even investing minimum wage into S&P index funds for 40 years would make you a millionaire. So it’s not that money is impossible to obtain, it’s that many people in low income brackets have very little discipline for managing money. Even people in the middle and professional classes will engage in lifestyle inflation every time they get a significant raise, which is another issue.

So if you give them millions of dollars the problem isn’t solved because they have no concept of managing that level of money, your friends are other people with no money, and if you’ve been poor there’s a certain level of resentment and entitlement that creates the attitude that you are owed luxuries now that you have money

 

[EMNofSeattle]

Sounds like a lot of work. And God forbid someone in my family spills the beans and outs me. Or do I have to keep my wealth secret even from my closest loved ones? That's not gonna work. That would probably end in divorce and I don't wanna get divorced.

And what do I get for all of this? Money I can't spend without drawing too much attention to myself? If I buy a Maserati where would I park it?

BTW, your link is broken. It clicks through to a story about Kamela Harris stumping for some candidate named Bailey.

My wife and I were talking about the lottery this morning and we basically agreed we’d have to provide some gifts to our respective families, buy a modest house in a nice neighborhood (so like a 2 or 3 bed in Manhattan beach that’s like 4 million but not a 50 million dollar beach front mansion) then give away most of the money to charities and keep only enough to generate money for our retirement.

In other words, take enough to live an upper middle class lifestyle than give the rest away. So in all likelihood that would mean if we took a cash payout of 600 million dollars we’d probably aim to only keep like 15 million of it at most, and that’s 15 in total net worth, with a couple of houses and retirement accounts Included

She also reminded me I promised to buy us a new ikea bed. I don’t think that was hypothetical about winning the lottery though

 

[Chomsky]

It's just a shame too many lottery winners ended up wasting away their winnings rather than putting it away to preserve and grow the wealth.

With capital like this one absolutely has the ability to never need to touch the principle, while living off a small percentage of the generated investment income.

Given an average market return of 6%, a 1B cash lump some generates 60M annually. Taking 10% of that income stream annually (6M) would give one a fantastic millionaire's lifestyle. Most could live well on 1 percent (600K), if they desired.

 

[HIP56948]

There was a slightly sad story/happening a few years ago. I'll make it short.
A man and his family moved from one of the states that didn't have the powerball lottery.
Man got a job at an office.
People talked about the big money and all that "Get the numbers correct and WOW $$$$"
The man bought one ticket. Didn't have all the correct numbers.
'bout 4 or 5 days later, during lunch, he mentioned something like .."I had 4 of them and the powerball ...rats..almost won"
Of course, his other workers just about dropped their food...
Yep..The poor bastard didn't know that you can still win some money by getting some of them.
I think?? it was something like 85 grand or whatever. (I play the powerball every 2 years or so)
The pissy thing is NOBODY mentioned that you don't have to get all of them...the poor guy didn't know..He never played a lottery ..
Yeah..He threw it away in a street trash can..

 

[Chomsky]

Sounds like a lot of work. And God forbid someone in my family spills the beans and outs me. Or do I have to keep my wealth secret even from my closest loved ones? That's not gonna work. That would probably end in divorce and I don't wanna get divorced.

Obviously, that's a personal decision. I suppose you could keep a small portion 1-10M, and throw the rest in a charitable trust removed from your name and be done with. If that so suits you?

But from my perspective, you seem focused on the negatives.

BTW - I tried my link and it seems to be working. It leads back to the Chicago Tribune article. Interestingly, the recent record jack-pot was sold to another Chicago pair, who also seem to be remaining anonymous:

Mega Millions $1.3B winner's identity still a mystery

Mega Millions winners in Illinois are allowed to remain anonymous, and no one has yet come forward to say that they bought the winning ticket.

www.foxbusiness.com

2 Winners Come Forward to Claim $1.3 Billion Mega Millions Jackpot Nearly 8 Weeks After Drawing

The Illinois Lottery says two individuals agreed to split the prize and have "stayed true to that word"

people.com

And what do I get for all of this? Money I can't spend without drawing too much attention to myself? If I buy a Maserati where would I park it?

BTW, your link is broken. It clicks through to a story about Kamela Harris stumping for some candidate named Bailey.

As I said, you can remain anonymous.

And depending one where one lives, a Maserati or other similar vehicle may not be that uncommon. They're commonly seen on the streets of Chicago-NY-LA pretty regularly. I often see them, and have a dealer near by, along with Rolls, Lambo, Bentley, Ferrari, etc.

I've seen an article where it noted a winner from a more modest economic environ chose to move to an affluent zip-code, to purposefully be able to publicly enjoy their wealth without drawing the attention it would have drawn in their former locale. They researched the most affluent zip-codes in the country, and chose Miami Beach. I personally think that's a bit much, but thought you might be interested in their solution.

As for me, I'd probably maintain multiple residences in interesting places, including overseas. I know some families that do this, and it seems like an enjoyable lifestyle.

 

[Geoist]

I admire your honest & candor here.

I personally would gladly take the risk. I exercised many of the vices & demons from my life many years ago, bur for all I know I could be deceiving myself. We never know, I suppose.

Oh, same here. My wife and I have the dream of owning a small hobby farm and traveling when we retire years from now. Winning would just kickstart all of that much sooner. I love being a hands-on investor and we don't need many material things, so I'd like to think we wouldn't fall into the same trappings as others do. But you never know until it happens.

 

[Chomsky]

Sounds like a lonely and isolated life. OTOH, if that floats your boat, go for it.

I have no problem being discrete. It's no big deal. I'm fairly discrete IRL, as it is now. I'd use the place I described as a home base; that is, as a place of quite, private, recluse. But, I wouldn't limit myself to staying there.

As I replied in another post, I'd very much consider multiple residences in interesting places, perhaps even including overseas. I wouldn't necessarily limit my time to my home base.

 

[Chomsky]

Oh, same here. My wife and I have the dream of owning a small hobby farm and traveling when we retire years from now. Winning would just kickstart all of that much sooner.

Bingo!

My wife, who was a bit of a wanderlust nomadic globe-trotter when I met her, has been pushing me to consider an ex-pat experience overseas. Not a "forever" type thing, but maybe something like a 4-6 mos experience, sort of like an extended vacation. She spent her after-college years working & living in various places around the globe, and has overseas friends who could help us along. I must admit, it is tempting!

I love being a hands-on investor and we don't need many material things, so I'd like to think we wouldn't fall into the same trappings as others do. But you never know until it happens.

If you throw 1B into a well diversified portfolio, you could live very well on 1% of the investment income without ever touching the principle! Draw only 5 or 10% of the income, and you'd live the Lifestyle's of the Rich & Famous!

This quantity of cash is literally staggering! Staggering!

 

[Chomsky]

There was a slightly sad story/happening a few years ago. I'll make it short.
A man and his family moved from one of the states that didn't have the powerball lottery.
Man got a job at an office.
People talked about the big money and all that "Get the numbers correct and WOW $$$$"
The man bought one ticket. Didn't have all the correct numbers.
'bout 4 or 5 days later, during lunch, he mentioned something like .."I had 4 of them and the powerball ...rats..almost won"
Of course, his other workers just about dropped their food...
Yep..The poor bastard didn't know that you can still win some money by getting some of them.
I think?? it was something like 85 grand or whatever. (I play the powerball every 2 years or so)
The pissy thing is NOBODY mentioned that you don't have to get all of them...the poor guy didn't know..He never played a lottery ..
Yeah..He threw it away in a street trash can..

Oh man! What a story!

I knew a guy who checked a lotto ticket his pop had tossed, only to find it was a mid five-figure winner! Imagine, that?

 

[eman623]

Obviously, that's a personal decision. I suppose you could keep a small portion 1-10M, and throw the rest in a charitable trust removed from your name and be done with. If that so suits you?

Yes, and that's more or less exactly what I said in #39

$10 million would pay off my mortgage and the mortgages of my siblings and in-laws, set up generous college funds for my daughter and my nieces and nephews, and still leave me with a steady income of a few hundred thou minimum a year for life. Best of all, I wouldn't have to move or need bodyguards for my bodyguards.

 

[Bullseye]

What would I do? I'd form an LLC to anonymously receive the cash, and never, never, never, tell a soul!

Then I'd move somewhere where I can get some acres around me, get a crack security team, and entertain as few visitors as possible.

Check it out, below:

(these guys got their act together)

The secret millionaires next door

Somewhere in Chicago live a modest, middle-class couple with two teenage children and a $30 million secret. They recently won the Illinois Lottery, but have yet to tell friends, family or even thei…

www.chicagotribune.com

Ever read "The Millionaire Nextdoor"? It talked about the fact most of our wealthy folks are just ordinary folks who worked hard, long, and smart, treated their employees fairly, postponed gratification and lived modestly.

 

[Chomsky]

Yes, and that's more or less exactly what I said in #39

$10 million would pay off my mortgage and the mortgages of my siblings and in-laws, set up generous college funds for my daughter and my nieces and nephews, and still leave me with a steady income of a few hundred thou minimum a year for life. Best of all, I wouldn't have to move or need bodyguards for my bodyguards.

Understood.

As for the rest, if you win - pls PM me & I'll be more than happy to relieve you of the burden imposed by the other $990M! Don't even worry about it, I'll free you in no time! My favor to you!

 

[Chomsky]

Ever read "The Millionaire Nextdoor"? It talked about the fact most of our wealthy folks are just ordinary folks who worked hard, long, and smart, treated their employees fairly, postponed gratification and lived modestly.

Actually, that title popped-up today.

And yeah, I very much believe that.

"Worked hard, long, and smart". I do believe that. A little frugality never hurts. And one big thing: Avoid mistakes! Divorce, criminal & civil issues, bad business & personal decisions, all take their (cumulative) toll.

 

[Chomsky]

Ever read "The Millionaire Nextdoor"? It talked about the fact most of our wealthy folks are just ordinary folks who worked hard, long, and smart, treated their employees fairly, postponed gratification and lived modestly.

BTW - What did you think of the way the couple in the article handled their (lotto) win?

 

[EMNofSeattle]

Understood.

As for the rest, if you win - pls PM me & I'll be more than happy to relieve you of the burden imposed by the other $990M! Don't even worry about it, I'll free you in no time! My favor to you!

I’ll just donate to the US government. I’ll make sure there’s a press conference with some nerdy IRS agent taking the oversized check for the other 990 million, with me giving a fake smile like Vietnam prisoner propaganda photos.


Then everyone will know I don’t have the money and won’t ask, and also I’ll never get audited ever for the rest of my life

 

[eman623]

Understood.

As for the rest, if you win - pls PM me & I'll be more than happy to relieve you of the burden imposed by the other $990M! Don't even worry about it, I'll free you in no time! My favor to you!

Well, I figure I'll either win or I wont. So it's 50-50.

Actually, I don't play the lottery. It's a tax on people who can't do math.

OTOH, when the grand prize exceeds the odds of winning by this much, it actually makes mathematical sense to play. If in theory you covered all possible number combinations and thus guaranteed a win, you'd recoup the costs and then some. Of course if 2 or more other people also get a winning ticket, then you'd still lose.

OTOOH, since I'd just give away 99% of my winnings anyway, there's no rational reason to play even notwithstanding the above.

 

[Chomsky]

Well, I figure I'll either win or I wont. So it's 50-50.

Actually, I don't play the lottery. It's a tax on people who can't do math.

OTOH, when the grand prize exceeds the odds of winning by this much, it actually makes mathematical sense to play. If in theory you covered all possible number combinations and thus guaranteed a win, you'd recoup the costs and then some. Of course if 2 or more other people also get a winning ticket, then you'd still lose.

OTOOH, since I'd just give away 99% of my winnings anyway, there's no rational reason to play even notwithstanding the above.

Looks like you made a perfect circle in completing your argument! Even, if (maybe) inadvertent!

I see the two bucks spent as cheap entertainment. Plus my wife gets to look at the ticket, and spend a few moments fantasizing on what a win would mean.

 

[Mr Person]

I've been grabbing two tickets for the past few draws. One never knows right?

I figure you take any number of miniscule risks with huge negative potential consequences. Say, when you get behind the wheel. When you board a plane. When you need to somewhere in a thunderstorm and you're gotta grab that umbrella and jog to the car.

Might as well take some miniscule risks wit huge positive potential consequences, too.

 

[eman623]

Looks like you made a perfect circle in completing your argument! Even, if (maybe) inadvertent!

I see the two bucks spent as cheap entertainment. Plus my wife gets to look at the ticket, and spend a few moments fantasizing on what a win would mean.

Since I think having $2 billion plopped in my lap would be a nightmare rather than a fantasy, I wouldn't even receive the entertainment aspect for that $2.

 

[Bullseye]

BTW - What did you think of the way the couple in the article handled their (lotto) win?

Couldn't find it.

 

[Chomsky]

Couldn't find it.

Here ya' go, below!

The secret millionaires next door

Somewhere in Chicago live a modest, middle-class couple with two teenage children and a $30 million secret. They recently won the Illinois Lottery, but have yet to tell friends, family or even thei…

www.chicagotribune.com

I suspect you might approve. I think these guys in the article did it right. Quite honestly, it's a blueprint with the basics of how I might do it if I were to strike it big.

 

[Rexedgar]

Remember the homie, Hatuey if you win. We go back!

I mean, I don't need the money. Itd just be nice to know someone with it.

When they say, “it’s not about the money…………?”

 

[Rexedgar]

Sounds like a lot of work. And God forbid someone in my family spills the beans and outs me. Or do I have to keep my wealth secret even from my closest loved ones? That's not gonna work. That would probably end in divorce and I don't wanna get divorced.

And what do I get for all of this? Money I can't spend without drawing too much attention to myself? If I buy a Maserati where would I park it?

BTW, your link is broken. It clicks through to a story about Kamela Harris stumping for some candidate named Bailey.

“if you get a Maserati, where would you park it?”


Ask Joe Manchin!