Mega Millions is over a BILLION! If you win what are doing with the money?

boingyman said:
1. Lump Sum

2. I'm in California so the main thing I would want to do is stay anonymous. So the most practical way is to talk to my close cousin who lives in Texas and come up with some type of deal where she can claim the ticket on my behalf. If there was someone I would trust that's not a sibling or my parents it would be that cousin so hopefully it would work out great.

3. As soon as possible pending the legal, tax and other nuances of getting it claimed via my cousin.

4. Spreading the money to close family/friends will vary. No idea how much we would give, but I assume somewhere between $50-75 mil total. I would also ideally start some non profit charity that I can legally put money into to reduce my tax burden. I would then diverse my investments. Likely DCA into various stock market funds/ETFs, play with some money on more riskier individual stocks and gradually build up property. Kids trust funds and have $10-20 mil in some offshore account. Donate to charity/research as well.
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It's not going to work.
If I purchase a Mega Millions ticket in one state, can I redeem it in another? Because Mega Millions® is sold by individual lotteries, any winning tickets must be redeemed in the state in which they were purchased.
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You could claim that you purchased the ticket in California and gifted it to your cousin but your cousin would still have to cash it in California and disclose their name.

I'd be interested to know how many tickets were sold for the last drawing.
 
Fluffernutter said:
1. Lump sum.

If you choose the extended payments, they stop once you die. Therefore, if you win, but get cancer and die a few years after winning, your family only gets a small percentage of the winnings.

2. I will tell no one except my wife.

3. I'm going to get the money as soon as I can. Or have a lawyer represent me while they collect the money for me.

4. I'm going to pay off the mortgage. I'll scale back my hours at work. The kids won't know, other than me telling them a year from now that we have come into some money, therefore, they can apply to any college they want.
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The payments don't stop when you die.
https://www.megamillions.com/FAQs.aspx

What happens to Mega Millions payments if the winner dies before collecting? If a winner dies before receiving all annual payments, Mega Millions® will continue to pay the annual payments, as scheduled, to the winner's designated beneficiary or to the winner's estate.
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ralphc1 said:
It's not going to work.


You could claim that you purchased the ticket in California and gifted it to your cousin but your cousin would still have to cash it in California and disclose their name.

I'd be interested to know how many tickets were sold for the last drawing.
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Ahhh didn't know that. I guess we would need to find other creative ways to claim it and would require a scapegoat(s).
 
I'll take the lump sum.
After I win I will delete my social media, pack my shit up and go to an undisclosed location, buy 10-15 homes and rent them out. That's it. Collect a check(s) and chill.
 
1. lump sum
2. Anonymous
3. Cash out after getting lawyer in place
4. Buy a billion dollars worth of Bitcoin
 
1) Lump sum.

2) I'm going on TV and telling everyone to suck it.

3) As soon as possible after getting some legal help.

4) I have a few charities/places I would donate to, but everyone else can suck it.

5) Probaly move to a nicer place and maybe build a house. The 400+ million I would get after taxes would still be about 399 million more than I'll ever need.
 
Lump
Anonymous

2 mill to about 10 close people

50k to another 20 people
 
The Eagle said:
1. If a jackpot winner dies before receiving all annual installments, the balance of the prize will be paid to the winner's estate. Upon receipt of a court order, annual prize payments will continue to be paid to the winner's heirs. Other provisions may also apply depending on the laws of the lottery paying the prize.

But there is still a risk. What if the lottery or US go bankrupt.
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Bankruptcy is a possibility?

That aside, I'd feel all good taking payments then. As long as it's guaranteed I can will it to others in the event of my death, then no problem.
<mma4>
Anything to pay less taxes and fees to the parasites and leeches.
 
If a sherdogger wins, will he share it with his Mayberry homies?
 
1. Lump sum for sure.
2. Anon. (AZ allows you to remain anonymous permanently)
3. Getting the money as soon as possible.
4. I'd give my mom a million but that's about it. I'd help friends if they really needed it and would be generous paying for nearly everything when going out, but not giving anyone but my mom cash.
 
1. Payments (I don't like the idea of losing 50%+ of my winnings when choosing lump sum)
Plus its One Billion+ we are talking even one of those 30 payments is a sum big enough to make someone a filthy rich millionair.

2. Anonymous

3. Patience is a virtue

4. Friends (No), Family (For the most part thats a big NO)

I would however make the day of some complete strangers by handing them a fistfull of cash.
 
1. Lump Sum.
2. Anonymous.
3. Cash it asap.
4. $0. I'm going to spend every dime on scratch-off tickets going broke in a record amount of time.
 
The Eagle said:
Bought 3 tickets today (Quick pick). Chance of a single ticket hitting the mother lode is roughly 1 in 302.5 million. I still fancy my chances.

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Here are a few questions for an interesting discussion:

1. If you win are you taking a lump sum or annuity payments?

-If you take lump sum you have to pay a heavy tax straight away and will end up with half of the winnings or even less.

-Annuity of 30 payments are spread out over 29 years. You will get almost a whole pie but there is no guarantee what can happen to you during those years.

2. Are you going to reveal your identity on camera or stay anonymous?

-The 11 states that currently allow lottery winners to remain anonymous where a winning ticket was purchased in their state are: Arizona, Delaware, Georgia, Kansas, Maryland, New Jersey, North Dakota, Ohio, South Carolina, Virginia and Texas

-If you are not in one of those states, there is still a way not to reveal your identity. You can create a trust and someone in your name can collect the winnings.

3. After you found out that you won, are you cashing out the ticket the next day or lay low for a few days, weeks or even months and think about what to do next?

4. After you received the winnings, how are you going to spread the wealth between your family and close friends. How much are you going to give them?

Good luck to everyone!

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You definitely should take the lump sum. What I like about European lotteries and Canadian and other countries is that the prizes are always lump sum and tax free. So you win what they say you win. But here in the US where we seem to love regressive taxes and screwing poor people, it's a fucking ripoff where you get like half of the announced prize.
 
Adamant said:
Over a Billion jackpot yet you only take home 450m? Sickening.
<bball1>

All lottery winnings should be 100% tax and fee free. You get 100% of the winnings.
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That's literally how it is in EVERY country besides the US. I'm proud to be American, but the more you travel and learn about the world, the more you realize we're not necessarily the best at EVERYTHING. American exceptionalism is mostly a myth.
 
I haven't bought a ticket, but hypothetically speaking...

Screw giving half to the corrupt state govt. here, they'd waste it on crap like 12 guys re-paving an already smooth 500 foot road for 2 weeks straight and handouts to their friends and business partners, $34 million a year is a-ok with me. Roughly equivalent to $3 million a month is crazy.

I wouldn't trust anyone with a trust, I mean I probably could, but I wouldn't. I wish I could remain anonymous, but I am fine with ignoring everyone coming to me like I already do.

ASAP, get it out of the way, you never know what could happen.

I have a handful of people I'd help. Get my brother and mother new homes (and she has some medical issues that need help), help out a couple uncles that are on hard times due to medical issues.
 
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