EDIT Misinformation, ignore it lol from the mega millions website Which means you will get all 500 million if you chose the cash option, then they'll take taxes out of that. It's not split in half like most jackpots
Sounds good in theory but this is where personal outlooks and perspectives come in to play. I dont know who exactly is in charge of paying out a multi state game but in IL, 8 small lottery winners had their checks bounce. We were reassured it was a minor 'glitch' in funding though. In short, I barely trust the govt, fed and state, to get my tax return back to me at the end of each year. I would take the lump sum option and 'distribute' alot of it immediately. You dont know what the situation will be in 10 or 20 years. There are no gurantees.
No, the exact amount is the 359 million they posted as the cash option, you're confused on the actual money in the prize pool so far. The estimated 500 million is the amount if you took the annual payments because they invest the 359 million (current prize pool) and expect it to be valued at 500 million over the next 25 years.
To my knowledge, it's guaranteed, so I get the first 20 million dollar check and something happens (nuclear war occurs) and I don't get anymore after that, I'm still 20 million dollars richer. It doesn't really matter to me after the first million, I'm not motivated by money or greed, I only have it because it's a basic necessity in our current society.
Well, I have a ticket for the next drawing but I'm not spending the money just yet If I did win, the first thing I'd do is invest enough of it so that I would be assured of a wealthy lifestyle for the rest of my days. Then I'd get a house on the water in the Hamptons and an apartment on Central Park West in the 70s or 80s. Plus a winter home in southern California or Florida to escape harsh Long Island winters! A couple of new cars would be next on the list. I'd give some money to my close relatives and friends too. Numismatically, I'd complete my Canadian type set with the best examples money can buy. To keep busy for the rest of my life, I'd set up and manage a charitable foundation, giving money to people and causes I feel are worthy.
Outside of coins, I'd open a brewery/restaurant and manage that. Maybe get a chain going if it's popular enough. I'd probably also buy up ike dollars. By the bag, by the case, by the pallet, I'd just buy lots and lots of ikes. Call it the next great hoard or something... 5 million ikes stored in my basement, ha.
What to do with all that money? too many things. Travel, taking care of family and close friends, going back to school to learn more, and of course investing some of it to make sure I still have a steady income. Of course there will be a lot of spending on my hobbies. I would imagine I would finish a couple series of coins not necessarily in the highest grade as a long as its ones I like.
Sure, I see what youre saying. I'm just looking at it as a matter of principal. The winner is entitled to get everything theyre due and do with it as THEY see fit. Many more people will benefit than just the winner is how I see it. Which is probably a much better option than all of it miraculously disappearing due to some extreme, unforeseen circumstance down the road. Sure nothings happened yet but we do live in strange times now.
I'd buy every 1916 D Mercury dime I could find. Online auctions, shows, coin shops. I'd even pay well over price, trying to own 90% of them, and then control the market for them I've always wanted to control the market for a certain item, especially a coin. Other collectors may hate me, but it'd be cool to know!
It amazes me how many conservative responces there have been regaurding the coins that would be purchased. This isnt a million were talking about. This is hundreds of millions. If a CT member wins it and doesnt present photos of a newly purchased, finest set known of something, Id put you on my ignore list. Lol Dont bore us with a set of ms-65 CC gold. Please! Lol
You're right, guess I won't feel as bad when I don't with 359 million. Not sure if I could handle not winning 500 million lol.
Heh, a couple drawings ago, I got the powerball and one number for one of them. I was excited just to get 3 bucks, which just got traded for 3 more tickets.
I'd build a biology/evolution/space museum complexed with an indoor small water park, hotel and huge restaurant/bar with an outdoor amphitheater in my hometown. Then i'd invest at least 20 mil in silver. Oh, and I'd buy a new hat.
First off id buy about 50 Tonnes of silver which would cost around 55 mill. Fill up my pool and go Scrooge McDuck style swimming. Then I would assemble both a kill Toned Morgan set with every mint and big error. Afterwards I would go play my keyboard on my own private island in the pacific with 10 babes bringing me cocktails and jello wrestling
i'd work to complet a us coin type set, get all currently circulating foriegn notes and complete a type set of us notes. then id put the rest into gold silver and a little in platnium palladium copper and nickel (only cuz u cant put all ur eggs in one basket). doate to charity, and create an orginaztion to educate the ignorant global public on why gold and silver is real money