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So, just out of curiosity. How would you take your payout if you were to win, based on current jackpot (500-640mil), lump sum of almost half the jackpot which is what you would get or annual payments of roughly 20 mil a year for 26 years? And just for laughs and giggles what would you buy. :thumb2:
 

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Just heard about this 540,000,000 jackpot. I was wondering if it would be better to take the lump sum and put it in like... an ing high interest savings account (could probably live off the interest alone lol), or just take the monthly payments. Either way I wouldn't spend a whole lot of it lol.
 

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How much tax would come off of that if you won it (as an American citizen)?

If I won any large sum of money I would pay off the rest of my education, buy a house, and a 2012 Beetle. And then share the rest with family and friends.
 

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How much tax would come off of that if you won it (as an American citizen)?

If I won any large sum of money I would pay off the rest of my education, buy a house, and a 2012 Beetle. And then share the rest with family and friends.
A lot. haha

I would take the payments. They are so big that I don't think I'd really "run out" of money in the time between payments so there's no need for the lump sum.

And I would buy an island, build my own race track on it, and make my Versa a super-car. I would finish my degree in CRJ, then get an ASE certification and really learn how to work on cars, this way I could slowly buy project cars to build up one at a time.

Examples: R33 GTR, Supra, K-5 Blazer, Willys Jeep, s15 silvia, Lancer Evo, '67 Mustang, RX-7, Datsun 240z.

I haven't thought about this before or anything...
 

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I'd say about half of it goes toward taxes. Then I'd buy a nice, 4-bedroom, 2-bath house with 3-car garage to fit a lift and save the rest. I'd probably buy a turboed Ford F250 or Dodge Ram. :D
 

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Discussion Starter #6
How much tax would come off of that if you won it (as an American citizen)?

If I won any large sum of money I would pay off the rest of my education, buy a house, and a 2012 Beetle. And then share the rest with family and friends.
Well if people opt on the lump sump think you only get like half or three quarters of the jackpot, not sure if that's because of taxes or just the option and then you would have to pay taxes on that lump sump, don't really know, never won but it could be my lucky day lol. The annual payments I would assume you have to pay tax on every year which would suck. I'll go for the lump sump and would actually do everything similar if not identical to what you would do Ash. For the exception of the Beetle lol.
 

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A lot. haha

I would take the payments. They are so big that I don't think I'd really "run out" of money in the time between payments so there's no need for the lump sum.

And I would buy an island, build my own race track on it, and make my Versa a super-car. I would finish my degree in CRJ, then get an ASE certification and really learn how to work on cars, this way I could slowly buy project cars to build up one at a time.

Examples: R33 GTR, Supra, K-5 Blazer, Willys Jeep, s15 silvia, Lancer Evo, '67 Mustang, RX-7, Datsun 240z.

I haven't thought about this before or anything...
LOL Sorry but the K5 and Willys just don't fit with that group... If you ask me they are a class above the others mentioned :biggrinjester:

I am thinking here in Canada you would lose a little more than half that too taxes.

On my list to buy... go back and get my pilots licence again, buy 2 planes (one strictly for long distance travel... ~$1,500,000), and one for Exploring remote areas (~$300,000). I would build a house on a lake up north, so about $1,000,000 for that. Tow boat for wake boarding (~$50,000 I think), and a fishing boat (probably about $50,000 too), then a brand new Chevy 2500 Quad Cab 4x4 Diesel pick up ($60,000 ish), a 1969 Camaro SS ($50,000 for a clean example), and a new Camaro SS (Probably around $50,000), and I would have to get a ZR-1. Thats basically all I would want (when it comes to big stuff), and its only around 3 million... And I really had to think to come up with that much stuff lol. Although maintaing all the stuff would be expensive... I just really have no clue what I would do with all that money.
 

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For the exception of the Beetle lol.
hahaha. The 2012 beetles are actually not bad. They look a little more like their porsche cousins. haha
 

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Who wants to buy my losing ticket from me. :-D
 

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Funny i was talking about this same subject today with my gf. I would take the lump sum which is probably about 1/2 and buy a 2012 Mustang Shelby GT 500 and a 2012 Nissan GT-R. Go to a famous custom motorcycle shop and have them build me a one of a kind bike of my own design. Not work for a good year at least and see most of the world i've always wanted to visit. Decide what kind of business i want to start. Give a good portion to my church, pay for my sons college tuition in full to the college of their choice and help out my family members (as in pay off their bills). That would be a good start Humm.... maybe this will all happen since me and my gf bought 20 tickets :)
 

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Also, I would donate a huge portion to my Local YMCA. They want to build a new facility soon (ours was built in the 20's), but we need ~$5 million.

Only one stipulation, they gotta name the pool after me :)
 

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First thing which is most logical, I'd pay off all my bills, (student loans, auto loan). Secondly, I'd purchase a new two story home, around 4000sq ft, 5 BR, 3 bath, 3 car garage.

After I take care of myself, I would start a business or open up a franchise of some sort, like a restaurant. Hire some people, pay them decent wages. Once settled with that, make a good profit. With the profit, invest some of that in the stock market.

Some of the profit, I'll help out family members that are struggling. Otherwise, I'd save the rest.
 
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