What would you do with that much cash? Would you keep working? Would you give your boss the finger?
I think I would just run a charity for the rest of my life and help people out. Travel the world. Drink Scotch. Ride around on a horse. Ah shit did I just describe S2000’s life? Nevermind. Hookers and cocaine all the way.\
Edit: Changed title to reflect new amount of $1.5 billion
also adding this article NY Times Dear Powerball Winner: Take Our Advice and Take the Annuity
I would buy a massive house in Telluride like this (http://www.tdsmith.com/telluride_real_estate_idx/296-Gray-Head-Lane-Telluride-CO-81435-mls_33284/), a nice apartment in NYC and a cabin and kayak country and just travel a lot.
Probably manage the rest and direct it towards charity throughout my life so I have something to do.
Before you think about the charitable route-
http://www.amazon.com/Doing-Bad-Good-Humanitarian-Action/dp/0804772282
And i gave my boss the middle finger with a lot less than that, years ago. Straight out of a movie. Eight of us around a conference table. He started telling me what I needed to do to get ready for the new year. I politiely said that would not be happening. Went down hill from there. Good times I tell ya.
Oh, and I’m buying fifty at 1.5.
I think you end up with about $500MM after taxes on a lump sum payout. That’s enough for me to give my 2 weeks notice and golf, ski and travel the rest of my life. I’d probably end up with permanent places in London, Paris, NYC-area, San Fran, Park City, and someplace in Asia.
^True. $1.5b x .5 (lump sum payout) x .6 (after-tax payout) = $450 million.
Government gets to keep $1.05B of your billion and a half. Hardly worth buying a ticket.
I walked by a posh yoga store in some expensive NJ town lately. They had a girl doing yoga poses in the window, like as a display. There is normal rich, and there is “hiring live humans as decorations” rich. I think that’s what I would dedicate a bulk of the money to. Before that, I would buy AF for its estimated market value of $200 million.
To be fair, you are more than welcome to not take the lump sum
You’ll be taxed at the maximum rate no matter what given that much money. I’m willing to bet that the max rate is more likely to go up over then next 30 years than down.
See, I feel like you could have the ticket’s winnings put into a corporate vehicle, choosing the annuity and probably structure it to pay about 25% as an effective rate. Then you get a large loan from a bank against that annuity with guarantees built in that essentially make it a pass through and invest the lump some in investment grade securities. Hopefully by doing this you can keep the annuity sized principal and collect the interest spread between the state municipal rate and the broader IG index in the mean time.
Higgmond, don’t rain on his parade. You might cause him to challenge his self-assessment and then his head might explode.
I think if you took the after-tax discounted present value of 30 years worth of payouts, you’d be even worse off. Just a guess. Surely somebody who passed L1 can put together a model and tell us.
Definitely lump sum, who knows what´ll come tomorrow! US-Taxation also applies to foreigners, with EURUSD @1,09 appr. 400mln € will be left then. Would quit the job, donate a huge part to charity and enjoy the rest of my days!
Over 30 Years for sure.
If you cannot “survive” with 30 million a year and need more their something very wrong…
The Cirque was sold to PE for 1.5bln last spring. Sigh
Dude, IHIHM has that much in munis and still has to bunk with his mother-in-law. Always take the lump sum.
Got my few tickets. I think this is the first time I’ve ever bought lotto tickets. Figured I’d spend the money I won’t spend on beer tonight on powerball tix.
If I won any real money I could buy myself a green card and maybe actually get past the 1st date with a girl.
+1
$500m today > $30m per year.
BTW–if I win, then I’m chartering Netjets to fly all over the US picking up AFWC members and we’re going to party like it’s 1999. Where’s the destination? Vegas? Ibiza? NYC? (NYC sounds really cool to me. It’s a backyard for most of you.)
Like the time most of us couldn’t legally drink? 
And don’t forget to shop for a discount date