Poll of the Day > If you had won that mega millions jackpot what's the 1st thing you think you'd

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KazGT6
01/23/21 10:17:18 AM
#1:


buy?
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Sarcasthma
01/23/21 10:19:14 AM
#2:


lottery tickets, of course

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Action53
01/23/21 10:28:43 AM
#3:


I'd go to a financial planner to see about some investments and how not to go broke in 5 years or less

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KazGT6
01/23/21 10:29:13 AM
#4:


you think you'd go broke in 5 yrs even with all that money?
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KJ StErOiDs
01/23/21 10:31:36 AM
#5:


Other than a financial advisor and lawyer, I don't know. But a new computer and a new car would be near the top.

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Action53
01/23/21 10:32:19 AM
#6:


KazGT6 posted...
you think you'd go broke in 5 yrs even with all that money?
Somewhere around 70% of all lottery winners go bankrupt within 5 years of winning. I'm not taking any chances

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grimhilde00
01/23/21 10:55:58 AM
#7:


Have a financial advisor (fiduciary) already, but I'd get a lawyer, and yeah idk for purchases.

I'd give two weeks notice and really focus on continuing therapy, getting back to pre-COVID shape, investing a lot of time into real self care.

Our plan for where we're living the next 7 years or so probably wouldn't change much. Still want to move around a lot so not buying a house for many years. Not sure where we'd want to settle down yet.

Yeah the main things I would want to do is just quit my job, work on myself, and spend my time doing my gamedev passion projects, live off investments. After I release a game on my own, could be fun to maybe start a very small studio.

Travel more once things are back to normal.

Not sure about purchases though. Would probably buy a bunch of clothes once I got back to my pre-COVID weight. I don't drive so no to car (at least until I take lessons since I've kinda forgotten, years from now I don't want to relearn in this horrible driving city lol). Having nice art would be nice but I don't want that until I buy a house. I already have a really nice computer.

Maybe a decent sailboat and lessons lol? /shrug. Could be fun in the bay area while we're here for a few years. Then could just gift it to my bf's dad, he likes to sail and has a boat, would be an upgrade.

The freedom to do whatever I want with my time and not have to work is the biggest thing winning the lottery would give me.

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ReggieTheReckless
01/23/21 11:59:41 AM
#8:


Action53 posted...
Somewhere around 70% of all lottery winners go bankrupt within 5 years of winning. I'm not taking any chances
I guess that's our most direct comparable statistic to exactly what percentage of people are fucking brain dead stupid

Idiots, lol

"HURRR I WON THE LOTTERY IM GONNA BUY EVVVVERYTHING AND LIVE IN A CASTLE MANSION WITH SERVANTS"
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adjl
01/23/21 12:18:28 PM
#9:


I'd pay off my and my girlfriend's student loans (~$60k total), my mother's mortgage (~$500k, low-interest enough that the money would be better invested, but that'd be pocket change for me and I think the QoL improvement from being debt-free would mean more to her), and buy my girlfriend's mother a house and move her out here (probably another ~$500k). From there, another $5 million apiece would very comfortably fund both mothers' retirements if invested sensibly, so I'd toss that out as well.

That would bring it down to (assuming half was lost to taxes) $489 million. Invest that at a 3-5% return and it'll make me $15-25 million a year, half of which would disappear to taxes (so $7.5-12.5). 2 x $100,000 of that would go toward funding my two sisters' living expenses (it'd easily cover them, any further luxury is on them to earn for themselves). Another $200,000 would cover myself and my girlfriend very comfortably, and would probably actually be a lot more than we'd need (really, we could get by on $100,000 quite happily). Maybe set aside another $100k for good measure, and that'd leave $7-12 million a year to donate to various local causes (recognizing that donating it would throw off the taxation estimate above, but I can't be bothered to mess with that).

I'd have to look further into that to figure out what causes would be worthwhile and just how far that'd go, but it would single-handedly cover half of the provincial food bank's annual expenses ($16.1 million last year, with $16.3 in revenue), which would be nice. Could probably do a lot for shelter purposes, too, particularly as far as funding a housing-first initiative goes. However, this is all hypothetical, so there's not much point budgeting that out now.

ReggieTheReckless posted...
I guess that's our most direct comparable statistic to exactly what percentage of people are fucking brain dead stupid

Idiots, lol

"HURRR I WON THE LOTTERY IM GONNA BUY EVVVVERYTHING AND LIVE IN A CASTLE MANSION WITH SERVANTS"

Pretty much. More often than not, lottery wins go to people that have very little understanding of how to handle significant amounts of money. They're used to only splurging on stuff when they can afford it, so once they can afford everything, they splurge on everything. It's surprising just how quickly you can burn through even $100 million if you completely disregard trying to hold onto it. It also doesn't help that any significant lottery win results in everyone you've ever known coming out of the woodworks to beg for "just 1 million." Turning that down can be hard, but heeding it adds up faster than many people realize.

There is also the point that being poor tends to result in a fundamental mindset of feeling compelled to spend money on something whenever you have it. That's a simple consequence of always being behind or barely scraping by: the idea of hanging onto money feels foreign and uncomfortable. Obviously, that mentality is inappropriate once you come into a very large amount of money, but it can be really hard to overcome that compulsion.

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argonautweakend
01/23/21 12:24:41 PM
#10:


You know, i don't know about first thing but I'd get my house totall renovated and looking brand new. I do not want to move necessarily and i'll tell you why.

My house is on a hill overlooking a valley and on the other hill is a 3 million dollar mansion. I can take trails from the end of my street to a huge county park to the back yard of that mansion. That guy has trail access, too and I can get right up to a gate on their property that has a sign that says "thats the end of county land and i'd be tresspassing to climb that gate/fence. Plus, it'd be a super nice house, but i'd have direct contact with my other property, my childhood home i've been in for 30 years.
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teddy241
01/23/21 12:28:35 PM
#11:


snort cocaine off a strippers ass and get laid
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BUMPED2002
01/23/21 12:39:35 PM
#12:


I'd try tp help some homeless people and invest some. Other than that, I'd have to think about it.

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BUMPED2002
01/23/21 12:39:57 PM
#13:


teddy241 posted...
snort cocaine off a strippers ass and get laid

teddy241 posted...
snort cocaine off a strippers ass and get laid
LOL you can do that without winning the lottery LOL

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SpankageBros
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Zeus
01/23/21 1:53:55 PM
#14:


Oh, did somebody finally win?

And idk, the first thing I'd do is probably move some place where I wouldn't have to pay as much in taxes on the money.

Action53 posted...
Somewhere around 70% of all lottery winners go bankrupt within 5 years of winning. I'm not taking any chances

Because the people who traditionally win lottos are already bad with money. A normal person is going to fare a lot better.


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MeteoricBurst
01/23/21 2:00:44 PM
#15:


Buy a real nice house. Nothing ostentatious but still fancy. Like one of them posh country cabins or cottages. Buy all the designer clothes I had my eye on for ages. Also sort out my mum with the family house, do it over from scratch. Pay off my sister's mortgage. Put down the rest and live off the interest. I would have said buy a yacht as the first action instead of the house, but travelling isn't really a thing now. No jet setting either.

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ParanoidObsessive
01/23/21 2:01:01 PM
#16:


Zeus posted...
A normal person is going to fare a lot better.

Most people who actually have a good head for money don't play the lottery in the first place. It's a large part of why it's been referred to as a "poor tax".
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dragon504
01/23/21 2:59:36 PM
#17:


A new place to live would be my first thought, as well as some health stuff. No idea what the exact first thing I'd buy is though.

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JigsawTDC
01/23/21 3:05:39 PM
#18:


I don't have much desire for too many things, so I'd probably buy my love a her own horse ranch so she could work with horses still but be her own boss and not beholden to someone else. And she'd own the horses instead of just caring for them!

Maybe I'd get a PS5 for myself, idk. Still not enough exclusives out for me to want it.
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Mead
01/23/21 3:12:10 PM
#19:


Id go nuts at the dispensary

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JigsawTDC
01/23/21 3:13:14 PM
#20:


Mead posted...
Id go nuts at the dispensary


i do this every week lol
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Lordkill
01/23/21 3:23:32 PM
#21:


Real estate is Cabo San Lucas, so I can live in a topic paradise and get out of this screwed up country forever.

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captpackrat
01/23/21 3:23:45 PM
#22:


Just imagine how much money you could win if you spent $1 billion on lottery tickets....

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Mead
01/23/21 3:26:26 PM
#23:


captpackrat posted...
Just imagine how much money you could win if you spent $1 billion on lottery tickets....

youd strike it rich become a millionaire!

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grimhilde00
01/23/21 4:22:40 PM
#24:


ParanoidObsessive posted...
Most people who actually have a good head for money don't play the lottery in the first place. It's a large part of why it's been referred to as a "poor tax".

Yeah I've played it on 3 separate occasions wihen it gets big, but playing it regularly would really add up. I've seen a few stories about people just gambling away their winnings in Vegas :/

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CaptainObvius
01/23/21 4:47:35 PM
#25:


5 million each to my immediate family members, and close friends, so I don't retire alone. I would buy a new phone/number and only give it family/friends. Buy a new house, no massive mansion or anything, I have just always wanted a dedicated dnd room, and a library. Then just relax and wait to travel until covid restrictions are lifted.

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Final Fantasy2389
01/23/21 5:02:38 PM
#26:


I don't even know. Obviously I would take care of my family first.
I'd also look to invest a part of it (I've been looking to invest recently but I can't seem to pull the trigger yet).

All I know is, I'd give my two weeks notice at work (I'm not one to just quit) and go from there.

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KogaSteelfang
01/23/21 5:06:55 PM
#27:


A house.

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DirtBasedSoap
01/23/21 5:07:30 PM
#28:


buy a new car and move

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Garlands_Soul
01/23/21 5:14:42 PM
#29:


Pay off stuff, and probably save or invest the rest. I'd just not worry about money.

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grimhilde00
01/23/21 6:16:35 PM
#30:


Final Fantasy2389 posted...
I've been looking to invest recently but I can't seem to pull the trigger yet

Do it. Like asap. Best time to invest was yesterday, next best time today yadda yadda

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Far-Queue
01/23/21 6:31:23 PM
#31:


Sarcasthma posted...
lottery tickets, of course
Reminds me of my favorite Warren Buffett quote: "If you buy half a billion lotto tix you're practically guaranteed to double your money fam"


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Marcster1994
01/23/21 6:57:07 PM
#32:


Would move to a new house/apartment, help my mom move to a new house, help my aunt & grandmother all get a new home they have been looking for them and my great grandfather. Help my dad, sister, and so on.

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Sarcasthma
01/23/21 8:16:51 PM
#33:


Far-Queue posted...
Reminds me of my favorite Warren Buffett quote: "If you buy half a billion lotto tix you're practically guaranteed to double your money fam"
I'm just amazed at how on-point his slang game is, considering his age.

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Raddest_Chad
01/23/21 9:21:54 PM
#34:


I'd inquire about buying this old castle
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EvilMegas
01/23/21 9:34:55 PM
#35:


Food. I guess.

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ZBug_
01/23/21 10:06:11 PM
#36:


A lawyer and an investor. Probably.

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Dikitain
01/23/21 10:34:34 PM
#37:


Pay off my house, pay for any renovations on my house that it might need for the next 20 years, set aside accounts for living expenses, medical expenses, and emergency funds to last me for the next 80 years. All told, would probably need about 10 million for all that, so I might just donate the rest to charity.

Of course, it will never happen because the first thing I would want is to remain anonymous and New York doesn't allow you to do that (unless you form an LLC and pull the money from that, way too much work).

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jkdarlow
01/23/21 10:39:50 PM
#38:


PSA10 1st edition LOB Gaia the dragon champion.
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adjl
01/25/21 1:36:09 PM
#39:


Dikitain posted...
unless you form an LLC and pull the money from that, way too much work

We're talking about ~$500 million here, after taxes. I don't doubt that it'd be a major hassle to do that, but the idea that anything is "too much work" for that kind of money seems a little odd.

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Soup_or_Science
01/25/21 1:40:12 PM
#40:


teddy241 posted...
snort cocaine off a strippers ass and get laid
https://www.youtube.com/watch?v=btAbU1sPqIM

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DrCidd
01/25/21 3:13:27 PM
#41:


KazGT6 posted...
you think you'd go broke in 5 yrs even with all that money?

When some people get a lot of money, they think they have to spend a lot of money. It's weird. But most lottery winners do go broke fast.

I get it though, I'm sure it'd be nice if you were to think yourself "I'd like to have that" knowing good and well, that right at this moment, you have so much money that it's literally pocket change of a purchase to you.

And a lot of people who have never had a lot of money, have no experience managing a lot of money. It's so astronomically large sometimes relative to any amount they've had prior, so it feels like it will never run out. Until it does.

That's why you hear so many "I wish I would have known" stories from former lottery winners.

A financial advisor isn't necessarily a great idea, I think they would take advantage of you, personally. But I'd say, there's likelihood that self preservation might be enough of a factor for them to keep you rich. Because it's a steady paycheck, and job security would rely on keeping you relatively rich at least. So maybe not terrible, either.

I'd probably buy a couple brand new cars, remodel (or just outright rebuild) my house, keep somewhere between 10-30 mil available for impulse buys, and the rest would go into an account, never to be touched, so that I could live comfortably off the interest for the rest of my life.

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Dikitain
01/25/21 5:57:35 PM
#42:


adjl posted...
We're talking about ~$500 million here, after taxes. I don't doubt that it'd be a major hassle to do that, but the idea that anything is "too much work" for that kind of money seems a little odd.

I mean, when you don't even want that much money in the first place, yea it is a lot of work. I am fine having enough money so that I don't have to worry about money the rest of my life (like I said around 10 million), but anything more then that is just a hassle. I would rather not have it than have to deal with all the problems that go with trying to prevent people from knowing you have it. Or even worse, the crap you have to go through when people DO know that you have it.

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green dragon
01/25/21 6:21:55 PM
#43:


Besides the lawyering up and getting a financial advisor, I would legit buy everyone on here a game.

Well, maybe that wouldn't be my first purchase, but honestly it'd be up there.

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blu
01/25/21 6:26:16 PM
#44:


ReggieTheReckless posted...
I guess that's our most direct comparable statistic to exactly what percentage of people are fucking brain dead stupid

Idiots, lol

"HURRR I WON THE LOTTERY IM GONNA BUY EVVVVERYTHING AND LIVE IN A CASTLE MANSION WITH SERVANTS"


thats what Id do.

servants arent that expensive

or castles

especially if you move to Singapore or something
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blu
01/25/21 6:27:09 PM
#45:


green dragon posted...
Besides the lawyering up and getting a financial advisor, I would legit buy everyone on here a game.

Well, maybe that wouldn't be my first purchase, but honestly it'd be up there.


Id probably do a PotD meet up, yeah. Buy everyone a ticket who wanted to come. Free game for coming.
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Monopoman
01/25/21 7:19:15 PM
#46:


grimhilde00 posted...
Yeah I've played it on 3 separate occasions wihen it gets big, but playing it regularly would really add up. I've seen a few stories about people just gambling away their winnings in Vegas :/

You gotta keep playing when your hot like that, obviously.

https://www.youtube.com/watch?v=lIhsgIOAP9Q
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