So, you got home and found that you won the state lottery. Now what?

Onkel Neal · 07-14-11, 12:13 AM

Hypothetical situation:

You get home from work, dig out your lottery ticket, check it and lo-and-behold: all SIX numbers match. The lottery drawing date is correct. It's the real thing, and the cash option value is a little over $9 million.

What do you do?

Go to work tomorrow?

Go to the state lottery headquarters bright and early in the morning (a 3 hour drive for me).

Do you drive yourself or hire a town car and a pro driver? (Nothing like getting killed on I-10 on the way to collect $9 million

)

Get in touch with a financial advisor?

Who do you tell? Anyone? No one?

So, you collect the $$$, I assume it goes into multiple bank accounts. What's next? Quit your job? What do you tell them?

What about the wife? Stay married or split the dough 50/50 and start planning parties that would put Hugh Hefner to shame?

How would you invest it?

What would you change about your life?

What's the very first thing you would spend it on?

FIREWALL · 07-14-11, 12:23 AM

1st and foremost.... DON'T TEEL ANYONE !!!!

Hide the money in a Bahama account.

Get a Financial Advisor

Hire a good Divorce Attorney and give her everything but lottery loot.

Leave the country.

Your job is keeping an eye on your money and enjoying the good life without spending it stoopidly.

Anthony W. · 07-14-11, 12:36 AM

Tell only CLOSE family

Get a financial adviser

Divorce wife and make sure she gets as little as possible. House and car - no more.

Spend 2M in the stock market

Buy a Bugatti Veyron

You have 4M left

Buy a $1,000,000 estate and pay cash

3M to go

Spend 1 million on classic cars

Buy a private twin engine plane

1M left

Insure all of it

Go on a tour of Europe

Live off the invested money, and use some of it to invest even more

Marry your dream girl and have 2 kids

Use the invested money to buy a Gato or Balao class boat - crew it with subsimmers.

Life is good.

frau kaleun · 07-14-11, 11:30 AM

Quote:

Originally Posted by Anthony W.

Tell only CLOSE family

Get a financial adviser

Divorce wife and make sure she gets as little as possible. House and car - no more.

...

Marry your dream girl and have 2 kids

Really? Your "dream girl" is someone who wouldn't have you until after you acquired all that money? I have to assume that's the case, otherwise you would've married her first.

Task Force · 07-14-11, 11:34 AM

Only 9 million!... oh well... guess i shouldn't start making my missile silos... hmm, and maybe scratch off the private army...

Oberon · 07-14-11, 11:36 AM

Really TF? I'd have thought you'd have gone for making your own King Tiger? That'll take care of a few million, and then the repair bills will take up the rest.

We've got it all planned out, new house and that, I'd probably keep it stum but I think folks on here would twig when I started talking about my new supercomputer...

Armistead · 07-14-11, 11:37 AM

My wife had distant relatives that brought home 42 million after taxes. They were elderly and well off so to speak and gave most away to their kids and family, we were just too far down the line to be considered.

You have a better chance of getting stuck by lightening, plus about impossible to hide the fact you won as laws state you must come forward publicly 99% of the time.

TorpX · 07-14-11, 12:34 AM

I'm not sure about all the rest, but........

I'd get a large order of my favorite chinese takeout.
(Of course, I've done this before, but this time I'd do it without guilt)

Spend a few days or so just thinking about all the things I might buy now that I could afford to.

Take the prize in one lump sum. Think about investing in gold or such (because I don't trust the Gov't to be responsible about our currency). In a few years the dollar may be nearly worthless.

Almost forgot, have the roof fixed.

Feuer Frei! · 07-14-11, 12:40 AM

Quote:

Originally Posted by Neal Stevens

What do you do?

Have a heart attack

Quote:

Go to work tomorrow?

Nope, i'd ring in sick and get the med cert to cover the heart attack

Quote:

Go to the state lottery headquarters bright and early in the morning (a 3 hour drive for me).

I'd still be in hospital, recovering.

Quote:

Do you drive yourself or hire a town car and a pro driver? (Nothing like getting killed on I-10 on the way to collect $9 million

)

Here in this country it depends if you are a registered or non-registered lottery player.
If registered, they send you a cheque. If not, i would take the ticket to the place where i bought it for verification, fill out the form and get a cheque sent to me.
So nho driving necessary, i'll just sit back in my lounge chair and get drunk!

Quote:

Get in touch with a financial advisor?

My parents would be my financial advisors.

Quote:

Who do you tell? Anyone? No one?

My parents, my 2 best friends and my eldest daughter.

Quote:

So, you collect the $$$, I assume it goes into multiple bank accounts.

Yep, multiple, split up the amount, some to my parents, to my 3 daughters, some into a trust fund, managed, and then go from there.

Quote:

What's next? Quit your job? What do you tell them?

You betcha! I've been looking for a good excuse to quit that sorry excuse of a place!

Seriously though, i would, jobs in that industry are a dime a dozen, so no probs for future employment. Take a year off, have a nice break. Re-evaluate after that. What do i tell them? None of their business!

Quote:

What about the wife? Stay married or split the dough 50/50 and start planning parties that would put Hugh Hefner to shame?

No wife, so home and hosed there

Parties to rival Hugh's ones?
Maybe

Quote:

How would you invest it?

Real Estate, Real Estate and Real Estate.

Quote:

What would you change about your life?

Nothing. I would try to stay the same person that i am now.
I paid my bills off, so would be even happier now.

Quote:

What's the very first thing you would spend it on?

My kids.

Anthony W. · 07-14-11, 12:49 AM

Quote:

Originally Posted by Feuer Frei!

Here in this country it depends if you are a registered or non-registered lottery player.
If registered, they send you a cheque. If not, i would take the ticket to the place where i bought it for verification, fill out the form and get a cheque sent to me.
So no driving necessary, i'll just sit back in my lounge chair and get drunk

Deutschland?

Feuer Frei! · 07-14-11, 12:54 AM

Quote:

Originally Posted by Anthony W.

Deutschland?

Australia

Falkirion · 07-14-11, 01:09 AM

First thing I'd do is buy myself a house and a couple of blocks of land as a buffer and future investment for when the govt or people want to buy em off me.

Then and only then would I tell me family, throw the rest in the bank for a rainy day. Just keep working as normal. No point in changing who I am just because I have 9 million.

MothBalls · 07-14-11, 01:35 AM

Quote:

What do you do?

I'd go to http://subsim.com/radioroom/ and ask for advice.

Quote:

Go to work tomorrow?

Call in sick.

Quote:

Go to the state lottery headquarters bright and early in the morning (a 3 hour drive for me).

No. Not until you talk to at lease three 'financial planners'. You may want to claim the prize in the name of a trust and not as an individual. For a prize that small you don't want to give it all away in taxes. (see below)

Quote:

Do you drive yourself or hire a town car and a pro driver? (Nothing like getting killed on I-10 on the way to collect $9 million )

Would drive with a friend who you know can drive, doesn't drive like an idiot, doesn't have 100 tickets, a family member probably. A "pro" driver has a $10.00 an hour job, what makes him safe?

Quote:

Get in touch with a financial advisor?

At lease two of them, and one person who actually has 9 million or more. If a "financial advisor" or stock broker had all the right information, they wouldn't be working as one.

I would talk to a tax accountant, and someone who knows how to keep money. I wouldn't invest it until a few months of research. Never take the advice of one person, and listen closely to the person who actually has made that much money.

Quote:

Who do you tell? Anyone? No one?

Only people on Subsim, we can be trusted. Nobody else. (It will be 6-8 weeks before you see a dime anyway)

Quote:

So, you collect the $$$, I assume it goes into multiple bank accounts. What's next? Quit your job? What do you tell them?

Depends if you liked the job, have friends there, of if you hated it and they treated you like crap.

9 mil is not enough to live the rest of your life on, unless you invest 95% of it and only live off of the annuities. But you probably couldn't stay in the job, cause you'd have a shive a git attitude anyway.

Quote:

What about the wife? Stay married or split the dough 50/50 and start planning parties that would put Hugh Hefner to shame?

Easy answer, do you love her?

Quote:

How would you invest it?

Carefully, slowly, diversified across multiple sectors in multiple countries. I would focus on making it work for me safely, and not take big risks. Annuities that pay enough to live on.

Might set aside a small amount for a spending spree, the puter/TV/car etc. but remember, you will have to pay taxes and insurance on all the toys. That's how many lotto winners go broke. 9 mil is not as much as you think.

Quote:

What would you change about your life?

Nothing. Might take a few trips, take a few friends, help any family out that really need it, buy something special for the folks, and send $5,000 in cash to the person who gives you the best advice in this thread.

Quote:

What's the very first thing you would spend it on?

The oldest profession.

FIREWALL · 07-14-11, 01:38 AM

All I see is posts that are what they feel the other members would want to see.

No real honesty here.

In real life that amount of money changes people especially if you've never had it before.

You'de all be Broke in a year.

The statistics show that the wife already knows your stupid and will fritter it all away.

So they dump you first and get most of it with a sharp Attorney before you know what hit you.

Love is Blind until, Millions of $$$ Correct the Vision.

antikristuseke · 07-14-11, 01:48 AM

First go to work, then after work go get the lottery money. After that go grab a couple of cigars and a bottle of Caol Ila and call up my best friend for a quiet celebration. After that would take some time off without any major spending to get over the shock of it all and then rationally start weighing my needs against my wants.
Would at first buy a house in a decent part of town, furniture and home electronics and all that crap without going overboard on that. A few more bottles of Caol Ila just so I could enjoy a nice glass of whisky when ever I felt like it. After that would invest about 3 mil and get a decent car, probably an M5. Then go through with my plans related to school, but with enough spending money to be comfortably off. After that could get an easy going job I like just to have something to do and then just enjoy life.

I have already been in the position of having more money than I know what to do with and squandered it, not again.

07-14-11, 12:13 AM	#1
Onkel Neal Born to Run Silent Join Date: Jan 1997 Location: Cougar Trap, Texas Posts: 21,385 Downloads: 541 Uploads: 224	So, you got home and found that you won the state lottery. Now what? Hypothetical situation: You get home from work, dig out your lottery ticket, check it and lo-and-behold: all SIX numbers match. The lottery drawing date is correct. It's the real thing, and the cash option value is a little over $9 million. What do you do? Go to work tomorrow? Go to the state lottery headquarters bright and early in the morning (a 3 hour drive for me). Do you drive yourself or hire a town car and a pro driver? (Nothing like getting killed on I-10 on the way to collect $9 million ) Get in touch with a financial advisor? Who do you tell? Anyone? No one? So, you collect the $$$, I assume it goes into multiple bank accounts. What's next? Quit your job? What do you tell them? What about the wife? Stay married or split the dough 50/50 and start planning parties that would put Hugh Hefner to shame? How would you invest it? What would you change about your life? What's the very first thing you would spend it on? __________________ SUBSIM - 26 Years on the Web

07-14-11, 12:23 AM	#2
FIREWALL Eternal Patrol Join Date: Mar 2006 Location: CATALINA IS. SO . CAL USA Posts: 10,108 Downloads: 511 Uploads: 0	1st and foremost.... DON'T TEEL ANYONE !!!! Hide the money in a Bahama account. Get a Financial Advisor Hire a good Divorce Attorney and give her everything but lottery loot. Leave the country. Your job is keeping an eye on your money and enjoying the good life without spending it stoopidly. __________________ RIP FIREWALL I Play GWX. Silent Hunter Who ??? Last edited by FIREWALL; 07-14-11 at 12:46 AM.

07-14-11, 12:36 AM	#3
Anthony W. Grey Wolf Join Date: Feb 2009 Location: Central Indiana Posts: 850 Downloads: 130 Uploads: 0	Tell only CLOSE family Get a financial adviser Divorce wife and make sure she gets as little as possible. House and car - no more. Spend 2M in the stock market Buy a Bugatti Veyron You have 4M left Buy a $1,000,000 estate and pay cash 3M to go Spend 1 million on classic cars Buy a private twin engine plane 1M left Insure all of it Go on a tour of Europe Live off the invested money, and use some of it to invest even more Marry your dream girl and have 2 kids Use the invested money to buy a Gato or Balao class boat - crew it with subsimmers. Life is good. __________________ Sunken Mustangs Proud Ford Mustang owner "Damn the torpedoes! Full speed ahead!" - Admiral David Farragut Run silent - run deep - keep the baffles clear - targets front and center. Private pilot and history buff

07-14-11, 11:34 AM	#5
Task Force Rear Admiral Join Date: Jul 2008 Location: SPACE!!!! Posts: 10,142 Downloads: 85 Uploads: 0	Only 9 million!... oh well... guess i shouldn't start making my missile silos... hmm, and maybe scratch off the private army... __________________ Task Force industries "Taking control of the world, one mind at a time"

07-14-11, 12:34 AM	#8
TorpX Silent Hunter Join Date: Sep 2010 Posts: 3,975 Downloads: 153 Uploads: 11	I'm not sure about all the rest, but........ I'd get a large order of my favorite chinese takeout. (Of course, I've done this before, but this time I'd do it without guilt) Spend a few days or so just thinking about all the things I might buy now that I could afford to. Take the prize in one lump sum. Think about investing in gold or such (because I don't trust the Gov't to be responsible about our currency). In a few years the dollar may be nearly worthless. Almost forgot, have the roof fixed.

07-14-11, 11:36 AM	#6
Oberon Lucky Jack Join Date: Jul 2002 Posts: 25,976 Downloads: 61 Uploads: 20	Really TF? I'd have thought you'd have gone for making your own King Tiger? That'll take care of a few million, and then the repair bills will take up the rest. We've got it all planned out, new house and that, I'd probably keep it stum but I think folks on here would twig when I started talking about my new supercomputer...

07-14-11, 11:37 AM	#7
Armistead Rear Admiral Join Date: Dec 2008 Location: on the Dan Posts: 10,880 Downloads: 364 Uploads: 0	My wife had distant relatives that brought home 42 million after taxes. They were elderly and well off so to speak and gave most away to their kids and family, we were just too far down the line to be considered. You have a better chance of getting stuck by lightening, plus about impossible to hide the fact you won as laws state you must come forward publicly 99% of the time.

07-14-11, 01:09 AM	#12
Falkirion Ace of the Deep Join Date: Aug 2008 Location: Melbourne, AUS Posts: 1,043 Downloads: 34 Uploads: 0	First thing I'd do is buy myself a house and a couple of blocks of land as a buffer and future investment for when the govt or people want to buy em off me. Then and only then would I tell me family, throw the rest in the bank for a rainy day. Just keep working as normal. No point in changing who I am just because I have 9 million.

07-14-11, 01:38 AM	#14
FIREWALL Eternal Patrol Join Date: Mar 2006 Location: CATALINA IS. SO . CAL USA Posts: 10,108 Downloads: 511 Uploads: 0	All I see is posts that are what they feel the other members would want to see. No real honesty here. In real life that amount of money changes people especially if you've never had it before. You'de all be Broke in a year. The statistics show that the wife already knows your stupid and will fritter it all away. So they dump you first and get most of it with a sharp Attorney before you know what hit you. Love is Blind until, Millions of $$$ Correct the Vision. __________________ RIP FIREWALL I Play GWX. Silent Hunter Who ???

07-14-11, 01:48 AM	#15
antikristuseke Silent Hunter Join Date: Jun 2007 Location: Estland Posts: 4,330 Downloads: 3 Uploads: 0	First go to work, then after work go get the lottery money. After that go grab a couple of cigars and a bottle of Caol Ila and call up my best friend for a quiet celebration. After that would take some time off without any major spending to get over the shock of it all and then rationally start weighing my needs against my wants. Would at first buy a house in a decent part of town, furniture and home electronics and all that crap without going overboard on that. A few more bottles of Caol Ila just so I could enjoy a nice glass of whisky when ever I felt like it. After that would invest about 3 mil and get a decent car, probably an M5. Then go through with my plans related to school, but with enough spending money to be comfortably off. After that could get an easy going job I like just to have something to do and then just enjoy life. I have already been in the position of having more money than I know what to do with and squandered it, not again.