What would you do if you won the Power Ball lottery?

[BrianNole777]

And you had $1 billion in your bank account?

First, I'd try not to pass out. Then I'd give everyone I know $1 million to $100,000 depending on how well I know them.

Then, I'd travel around the world for a year trying to calm down. I'd spend alot of time in Ireland I imagine. I'd blend in with the locals.

I'd try to give most of it to charity. I'd rent alot of stuff (yachts, jets, houses) and wouldn't buy too much.

How about you?

 

[GeddyLee09]

I would disappear. Maybe buy another place overseas in Italy or Portugal. Would set the kids up financially and invest the rest and live off the interest.

 

[ChiefWB]

Lawyer up. Disappear. It would be impossible to enjoy wealth like that if you didn’t remain anonymous.

 

[Ohio1nole]

Try to remain as anonymous as possible.. I would bank a ton of it and live off of the interest.

I would donate a lot to the church I go to, family, friends- even though by doing so, remaining anonymous would be tough.

I would do a ton of traveling. Go to all of the sporting events that are on my bucket list.

Like OP mentioned, I too wouldn’t buy a ton.. I would rent some private jets, yachts, etc.

One thing for sure. I wouldn’t buy a massive new house.. those 20M homes you see on tv, seem more like hotels to me and not very home like. Now, I would definitely upgrade into a better house, but it wouldn’t be a 15,000 sq ft mansion either

 

[NoleFan2U]

And you had $1 billion in your bank account?

First, I'd try not to pass out. Then I'd give everyone I know $1 million to $100,000 depending on how well I know them.

You know all of us, right?

 

[seminoleed]

One thing for sure, I'd endow a chair for the Florida State School of Social Sciences, and would definitely contribute some big bucks to the athletic department.

 

[F4Gary]

Your take home would be much less than 1 billion.
I'd start working on a car collection to rival Jay Leno.....and I would buy a P-51.

 

[BrianNole777]

You know all of us, right?

I know you and some others.

I'd give you 100K.

Just don't tell anyone.

 

[GeddyLee09]

Your take home would be much less than 1 billion.
I'd start working on a car collection to rival Jay Leno.....and I would buy a P-51.

I read somewhere the cash option would get you about 750 million and right under 600 million after taxes.

 

[F4Gary]

I read somewhere the cash option would get you about 750 million and right under 600 million after taxes.

I'd be happy with that.

 

[goldmom]

I could get by on that much.
First thing you do is tell no one. Hire a law firm experienced in setting up Family trusts and Foundations, get with an accounting firm and of course your trusted financial advisor.
It would probably take up to two months to get all of these things done before you claim the money.
You can remain anonymous in Florida until you get the money, but if you have set up LLC’s and Trusts under a name other than your own - and have your attorney authorized to go to Lottery HQ and get the check on behalf of the XYZ Family Foundation you may be able to keep some degree of anonymity.
Then move to a gated community or a condo with good security.
There are ways you can share the wealth with your family - a Foundation needs a Board of Directors and they can be your family members who earn a generous salary for their services.
I have no interest in a yacht or a Learjet, but I would travel and maybe have a vacation home or two.
And I would definitely donate to worthy causes through said Foundation.

 

[12Nole]

I’d start multiple families in various countries and conquer the world.

 

[QuaZ2002]

I would absolutely feel an obligation to share it in some capacity with my close family and close friends. Thankfully I don’t have much extended family that I ever talk to so some cousin I haven’t seen in years isn’t getting anything. I’d pay for all of my closest friends and their significant others to take an incredible trip every year, set up trusts for my nieces and nephews, make sure FSU football stayed relevant, and probably establish a local scholarship program for underprivileged kids.

 

[newhampshirenole]

And you had $1 billion in your bank account?

First, I'd try not to pass out. Then I'd give everyone I know $1 million to $100,000 depending on how well I know them.

Then, I'd travel around the world for a year trying to calm down. I'd spend alot of time in Ireland I imagine. I'd blend in with the locals.

I'd try to give most of it to charity. I'd rent alot of stuff (yachts, jets, houses) and wouldn't buy too much.

How about you?

Anything I want to do!

 

[DFSNOLE]

I know you and some others.

I'd give you 100K.

Just don't tell anyone.

How about the guy who let you back on the board?

 

[GeddyLee09]

How about the guy who let you back on the board?

Why did he get booted in the first place? Stealing creamer or following ice cream trucks?

 

[DFSNOLE]

Why did he get booted in the first place? Stealing creamer or following ice cream trucks?

He's been permabanned multiple times. You need to be more specific.

 

[GeddyLee09]

He's been permabanned multiple times. You need to be more specific.

What gets him banned. Normally there's a trend of the same behavior or actions.

 

[seminoleed]

He's been permabanned multiple times. You need to be more specific.

That's like saying "I've quit smoking lots of times." If he was PERMAbanned, we wouldn't even be having this conversation.

 

[BrianNole777]

How about the guy who let you back on the board?

Certainly and I'll even give you $1 million IF you let me be a co-moderator. 😀

 

[BrianNole777]

What gets him banned. Normally there's a trend of the same behavior or actions.

Arguing.

I read this article last year and it changed my reality.


"And that’s when it hit me: arguing was a waste of my time.

Not just in that situation with that police officer. I’m talking about arguing with anyone, anywhere, any time. It’s a guaranteed losing move."

Arguing Is Pointless

It was lunchtime and the seven of us — two kids and five adults — would be in the car for the next three hours as we drove from New York City to upstate Connecticut for the weekend. We decided to get some takeout at a place on the corner of 88th and Broadway. I […]

hbr.org

 

[BrianNole777]

That's like saying "I've quit smoking lots of times." If he was PERMAbanned, we wouldn't even be having this conversation.

You live, you learn, my friend.

Couple things I learned before I hit 40:

1.) Arguing is pointless.

2.) People generally don't change. Personalities are cemented by 1st grade, according to studies.

3.) All one can do is tolerate or detach from people because I can't change them.

Personality Set for Life By 1st Grade, Study Suggests

It's tough to change personality. A new study shows our personalities stay the same throughout our lives, from child to adult.

www.livescience.com

 

[BrianNole777]

I would work with my university to build the best, most accessible mental health facility in the world. I would also probably endow a small research institute for myself to play around in the lab. If I could sustain it financially, then I would like to start building the mental health equivalent of Carnegie Libraries.

Cognitive Behaviorial Therapy, of course?

 

[MagNoleA]

I could get by on that much.
First thing you do is tell no one. Hire a law firm experienced in setting up Family trusts and Foundations, get with an accounting firm and of course your trusted financial advisor.
It would probably take up to two months to get all of these things done before you claim the money.
You can remain anonymous in Florida until you get the money, but if you have set up LLC’s and Trusts under a name other than your own - and have your attorney authorized to go to Lottery HQ and get the check on behalf of the XYZ Family Foundation you may be able to keep some degree of anonymity.
Then move to a gated community or a condo with good security.
There are ways you can share the wealth with your family - a Foundation needs a Board of Directors and they can be your family members who earn a generous salary for their services.
I have no interest in a yacht or a Learjet, but I would travel and maybe have a vacation home or two.
And I would definitely donate to worthy causes through said Foundation.

What a great and magnificent financial plan! Very thorough and concise words of advice. Can I get back to you when I hit the lottery? Thanks in advance.
E.F. Hutton

 

[BrianNole777]

I am not exactly sure what you are asking.

Your new mental health facility would be based on CBT?

 

[GeddyLee09]

You live, you learn, my friend.

Couple things I learned before I hit 40:

1.) Arguing is pointless.

2.) People generally don't change. Personalities are cemented by 1st grade, according to studies.

3.) All one can do is tolerate or detach from people because I can't change them.

Personality Set for Life By 1st Grade, Study Suggests

It's tough to change personality. A new study shows our personalities stay the same throughout our lives, from child to adult.

www.livescience.com

#2 is interesting. On one hand there's the notion that personality can and does change but sets around 30. https://www.apa.org/news/press/releases/2003/05/personality

This study back up the 1st grade theory you posted. https://www.livescience.com/8432-personality-set-life-1st-grade-study-suggests.html

This article seems to state its more fluid. https://www.bbc.com/future/article/20200313-how-your-personality-changes-as-you-age

I was always under the impression that while many traits set early some can and do change over time based on life experiences.

 

[BrianNole777]

#2 is interesting. On one hand there's the notion that personality can and does change but sets around 30. https://www.apa.org/news/press/releases/2003/05/personality

This study back up the 1st grade theory you posted. https://www.livescience.com/8432-personality-set-life-1st-grade-study-suggests.html

This article seems to state its more fluid. https://www.bbc.com/future/article/20200313-how-your-personality-changes-as-you-age

I was always under the impression that while many traits set early some can and do change over time based on life experiences.

I think people can and do change but I can't change them.

 

[BrianNole777]

CBT is just one form of psychotherapy that is appropriate for a subset of mental health concerns. I would be building a comprehensive mental healthcare facility.

I've been reading about Albert Ellis and RBT.

Very interesting.

 

[DFSNOLE]

Certainly and I'll even give you $1 million IF you let me be a co-moderator. 😀

Looking like I'll have a million less in the bank account.

 

[seminoleed]

I would work with my university to build the best, most accessible mental health facility in the world. I would also probably endow a small research institute for myself to play around in the lab. If I could sustain it financially, then I would like to start building the mental health equivalent of Carnegie Libraries.

But which university? I'm guessing UCLA?

 

[BrianNole777]

Looking like I'll have a million less in the bank account.

I'll just give you $100K then, if I win.

 

[BrianNole777]

I can't imagine having $600,000,000 in my bank accounts earning hundreds of thousands of dollars of interest each month and NOT handing out money like crazy.

I'm telling you, I'd be like Santa Claus!

 

[F4Gary]

I can't imagine having $600,000,000 in my bank accounts earning hundreds of thousands of dollars of interest each month and NOT handing out money like crazy.

I'm telling you, I'd be like Santa Claus!

Only you would put 600m in a bank account.

 

[BrianNole777]

Only you would put 600m in a bank account.

My post says "accounts." Plural.

That means more than one, Gary.

 

[GeddyLee09]

I wrote "accounts."

That means more than one.

Still if I can get 1 percent at a bank and 3% in an annuity or other investment account there is no real thought process. Keep the standard 20-50k in your checking and stow away the rest.

 

[fsu1jreed]

Hookers and blow

 

[runkpanole]

Hookers and blow

After building my house in Montana, I’d fill it with hookers and blow. If at that point, I still had money, I’d take care of the family and friends, then have a building named after me on campus.