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Mega Millions at $400 million (cash option $216 million)- 3 things you'll buy

I'm gonna get me a donk like the one at the bottom to cruise around in- just to let people know I'm a boss.
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DeaconCav06 said:
Phan, do you have a hotline that we can use to call to know how to make the best life decisions?

Example:

Phan, should I watch sons of anarchy?

No. That show sucks. You must be a moron.

Phan, should I use my $216MM lottery winnings to upgrade my kitchen?

No that's stupid. What a waste of money.
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WHOOSH

i was making the point that different people value things differently.
 
I'm talking about the one with the 100 dollar bill motif. You got a smooth ride like that and the women in bikinis show up for free. I might move to somewhere like Myrtle Beach where it will be properly appreciated.
 
I bought one ticket and won $2. There was no big winner so the estimated jackpot is $550 million. My dream of a house in the Keys is still alive.
 
Build a sweet office in my current house. Install quad 30" monitors and lots of computing power and invest lots of monies.

Buy a mid-size yacht and sail around the world forever. Nothing too extravagant, but enough to cruise in comfort and not have to worry about dying in heavy seas.
 
I didn't realize they'd changed the rules on this babe to take your odds of winning down to 1 in 259 million (used to be around 1 in 192 million IIRC).

Oh whale. I also got a $2 ticket last night. So I guess I'll reinvest one of those again. Stay ahead of the house.
 
1 houses
2 pay off student loan
3 give to five of my favorite nonprofits.

Then invest the rest, relax, hire employees and keep the business going. My only challenge would be that I would now be one of my clients targets. I used to lays say the first thing I would do old be buy a car. I nw have a god one so no need for that :)
 
When I win on Wednesday I'll end up buying modest places in all my favorite cities (DC, NYC, Chicago, San Francisco, W-S for games), a mountain house somewhere in the NW, and a beach house down on Bald head. I'll probably stay at my current job for 3-6 months and just work remote, just to leave them in a good place. After that, I'd just spend my days traveling and relaxing in my favorite spots. Would probably work on some side-projects I've had on the backburner when I feel the need to actually do something productive.
 
RollTheQuad06 said:
I can't even fathom having that kind of money. Like, my first instinct would be "pay off my house, car, and student loans!" but that is like pennies compared to a lump sum of $216 million. I'd surely live in a different/better house if I had that kind of money, and buy more cars.

But I guess I'd travel all over, buy a mail order husband or something, and donate enough to Wake to get naming rights on one of the new dorms.
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What dorm are you in? I'm in _______ House, near the Chi O lounge.
 
1) Reimburse my parents and in-laws for my wife and my education at Wake.

2) Invest to live off of interest indefinitely

3) Donate a huge chunk to my favorite institutions: Wake, Camp Cheerio, and the NCZoo. Probably set up some scholarships to Wake and Cheerio and fund a habitat for the zoo.
 
New jackpot $550 million with a cash option of $296 million (initially - let's call it $300 million for sake of argument because it will likely go up some). I would take the cash option and assume I'm paying in the range of 43% income tax, combined federal and state. I would contribute approximately $125 million to a donor advised fund to support my philanthropic/charitable efforts through my lifetime and hopefully well beyond. That would take my tax liability from around $126 million down to approximately $74 million (donor advised fund with a pubic charity rather than a new private foundation because of the higher 50% of AGI charitable deduction limitation), leaving me with a net of $101 million or so. Not sure what I would "buy" after that, but that would definitely be my plan - gotta minimize those taxes. I guess I could actually donate up to $150 million to a DAF to really minimize taxes, but for whatever reason, from that, I want to have $100 million net to me.
 
If you were to donate $150 million to a DAF what would your tax liability go down to?
 
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