OT - You Just Won $447 Million Lotto, What do you do with the $?

Submitted by xtramelanin on

Mates,

It is OT season, we are in a desert wandering without content except for the couch fire in EL, and that is a bad ju-ju.  I noted that the Powerball Lotto hit for $447 Million and the winner hadn't come forward yet - I assume it is one of you.  So the question today is a simple one:

You've won the $447 Million Powerball Lotto, what are you going to do with the money?

XM

 

bgoblue02

June 14th, 2017 at 2:43 PM ^

1 - fees; I know you can do lower fee mutual funds but the ETF fees are generall lower and more transparent

2 - tax efficiency; ETFs are 100% tax efficient vs. if a mutual fund buys or sells a lot in its fund and they distribute to you; you could be hit with capital gains tax rather than dividend

3 - liquidity value; if you want out of an ETF you can sell now for the price its listed; rather if you want to sell a mutual fund you have to wait until end of day price and not know what your going to get until after the fact 

4 - transparency; you can go online and look up an ETF and see it's exact composition vs. a mutual fund 

PopeLando

June 14th, 2017 at 2:10 PM ^

$447 million might not be enough ;)

Actually, if we're being serious about what you should actually do if you find out you've won, the first four things:

1) sign the back of the winning ticket
2) hire a lawyer or accountant or both
3) don't tell anyone who isn't your lawyer
4) DON'T TELL ANYONE who isn't your lawyer

rainingmaize

June 14th, 2017 at 2:19 PM ^

The first thing I would do is visit a lawyer and get a legal plan in place and create a killer NDA document. 



I would then pick up my money, and not tell a soul. Everyone knowing that you have that kind of money causes problems. Previous lotto winners have had their families and friend networks destroyed over fallouts caused by having that money. THat or you've gone broke giving it all away to friends of friends that emerge out of the wood work. 



As far as what I would do with the money, maybe Invest it, donate a ton of it to nice causes, give myself a nice trip, pay for MgoBlogs new servers, and of course two chicks at the same time. 

ijohnb

June 14th, 2017 at 12:38 PM ^

two rounds of golf each at Pebble Beach, St. Andrews, and Kapalua.

After that, whatever really.  It wouldn't matter at that point.

In reply to by ijohnb

Gucci Mane

June 14th, 2017 at 2:59 PM ^

I know some people love golf, but I would not pay $20 to golf at any of those places. Golf boggles my mind.