Social Question

janbb's avatar

Would you really want to win a billion dollars?

Asked by janbb (53507points) 3 weeks ago

How would your life change? How much does one person need?

Observing members: 0 Composing members: 0

26 Answers

mazingerz88's avatar

Yes, how else can I help the families of those people who died because of trump?

ARE_you_kidding_me's avatar

I’d be doing the Elon Musk thing personally and a better job of it at that.

chyna's avatar

I can’t even wrap my head around how much money that is. No but I’d like to win a couple million.

LadyMarissa's avatar

Between Federal & State taxes, you’ll be lucky to end up with $250 million. I don’t “need” a billion; however, it would mean that I could live out the rest of my life comfortably & no longer have to be concerned what crappy nursing home I’ll be dumped in!!! I could hire me a young, good looking stud to live in my home with me. I don’t want to do anything with him…I just want something pleasant to look at every now & then…while I can still see!!!

I also plan on donating a good portion to others who need it worse than I do!!!

Zaku's avatar

Yes. No more money stress. Ability to do the work I want, travel at will, live where I want, etc. And I would start one or more kick-ass pro-bono organizations / trusts and environmental rescue efforts.

janbb's avatar

None of you see any problems with the notoriety you would suffer, and the money grabbers and hangers on? From what I’ve read, mega-lottery winners are rarely happy which isn’t to say that there aren’t some who are.

LadyMarissa's avatar

I don’t plan on sharing the news!!! I’d continue to live in my comfortable home & continue to drive my old clunkers until they both die. The ONLY person I’d tell is my accountant & he won’t tell anyone else because he is MORE private than I am!!! Those I choose to share it with won’t have a clue where it comes from. By state law, I am NOT required to go public with my windfall!!!

chyna's avatar

@janbb Yes, that concerns me a lot. A man from my town won one of largest jackpots at that time. His name is Jack Whittaker. He gave his granddaughter, who was 17 at the time, massive amounts of money. She bought drugs with all that money and over dosed and died. His wife divorced him, his daughter died of cancer all within a short time. He was drugged and money was stolen from him. His home was broken into many times. His is probably one of the saddest stories of a winner I’ve ever read.

Tropical_Willie's avatar

@LadyMarissa actual cash payout for Cash Option: $904 million so with 38% taxes closer to $560 million.

LadyMarissa's avatar

The reality is they take at least 50% & I was assuming that they’ll up it to 75% since it’s over $1 billion. Since I’d be happy to survive on $250 mil, I’d be twice as happy with $560 mil

Tropical_Willie's avatar

Get a tax lawyer if you win! ! ;>) @LadyMarissa

gorillapaws's avatar

Yes. I’m pretty sure I need a yacht that contains a smaller yacht, because reasons…

Demosthenes's avatar

I would, but I wouldn’t want anyone to know the true extent of my winnings.

Tropical_Willie's avatar

Taking the wife for breakfast, she is taking me for lunch.

:>)

JLeslie's avatar

I’ve said forever that I think the lotteries should have a cap. Let’s say $250 million, and anything over that which has accrued go directly to the state. I’d much prefer the playing reduce taxes for the masses and go towards schools and other social systems. Housing could be built for hundreds of people with a half a billion dollars. It also could cover some basic healthcare for those without insurance.

I’m never going to say I don’t want to win a billion, but I do wish the jackpot was lower with a better allocation of funds.

To contradict myself, if I won, would I give a lot of the money to the state? I’m hesitant. To charity, yes, but directly to the state, I’m not so sure. To improve public schools and parks and other government places and programs probably yes, but I would be specific about the donation.

kritiper's avatar

I would really like to try it.

flutherother's avatar

Not really, it is too much and carries the danger I might start voting for Trump.

longgone's avatar

Absolutely not. Way too much money to worry about. Also, there’s no way I could keep it secret. There are people in my life who don’t have enough, and I would feel the need to help them.

ucme's avatar

I mean, might help towards staff wages maybe but nah, i’m good thanks.

rebbel's avatar

I would exchange it, to rupees.
73,564,790,877.30
I would be effing rich, man!

gorillapaws's avatar

@rebbel Or you could exchange it for rubies, pour them in a bathtub and roll around in them.

mazingerz88's avatar

I would want to win enough billions to pay trump to resign and stop tweeting.

seawulf575's avatar

I would love to win the lottery, though I would take the cash option and wouldn’t see the entire billion all at once. I have all sorts of good things I want to do, but have lacked the funds.

RedDeerGuy1's avatar

Yes. I would start my own science foundation and give my self training to use all the toys. I would get a cure for my time travel. I would not have to go hungry again.

LadyMarissa's avatar

@Tropical_Willie Back in 2002, the largest Powerball in the history of the game was $314 million. The winner took the lump sum option & after taxes, he only collected $113 million. That’s approx 65% withheld; so I don’t think that I was that far off with my guesstimate!!!

I’m only guessing here; but, I believe the taxes are withheld at an outrageous rate & when you file your taxes, you will receive an outrageous refund. That way the extra taxes are drawing interest for the feds & the state affected until your taxes are filed & refund paid!!! This winner was already a millionaire, so I’m pretty sure he already had a great tax lawyer. Anyway, I could live out the rest of my life pretty comfortably on $113 million…I’m NOT greedy!!!

Tropical_Willie's avatar

LUMP SUM ! $314 million was annuity sum for 20 years. Lump sum is about 58% of annuity value.

Current Powerball 10/24/2018:
“Estimated Jackpot $620 Million Cash Value of $354.3 Million”

Lump sum = cash value

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