If I were Filthy Rich
By synecdokidoki+179 Is a billion dollar jackpot just . . . too much money?
I mean . . . do you really want that?
Even considering that OK, whoever wins doesn't actually become a billionaire, but they are immediately worth something like $250 million after taxes.
I'm not sure I actually want that. Once you break spending about a million a year, maybe even less, it's at least as much burden as it is benefit. I think it's true that very wealthy people are very lonely, it's impossible to know who actually likes you, and who just wants money. You have to start being concerned about security, not just for you, but for people you know. You are going to be a lawsuit magnet. The want to be charitable could get to be a real complicated obligation real fast.
Even if lotteries let you be anonymous, the odds that someone is going to do the work to figure out who you are certainly go way up.
I don't know that I actually want to suddenly become that wealthy.
Of course . . . I buy lottery tickets when it's a billion dollars. But I kind of think I'd actually be happier with like 1/10th that prize. Am I insane and alone on this?
Recent responses
+158 @No-Dragonfly9134 I do believe that it’s more than enough for a 49 year old like me to retire.
+141 @the-one-who-knocks I’ll still take it. I’m sure it’ll probably change me as a person and not sure how I’d feel about it. If you’re worried about that much money, donate to reputable causes and help change the world. Then live off what your comfortable with which I’m sure would still be a boatload haha
+72 @Solnse $1.25 Billion jackpot. $572,100,000 cash option. Federal tax @ 37%. Leaves $360,423,000. Not quite billionaire status, but sure beats a sharp stick in the eye. Edit: that's in states that don't tax lottery winnings. If you're in a state that does, subtract that, too.
+60 @BoringNYer You buy a nice house good neighborhood. Trust to pay you X dollars a year. Accountant firm for expenses. Trusts set to pay interest to charities you selected
+56 @cptmorgantravel89 Yes i would actually want it. I wouldn’t tell people my net worth, I would probably wear the exact same clothes I wear now, and drive the same cars (maybe newer but I wouldn’t be driving a Lamborghini or Ferrari.) the only difference is I would travel a lot more. I would spend less time stressing about saving for retirement. And I would tip even more than i already do to help make peoples day.
+53 @bartexas I've worked in family offices, so actually have some insight both to them and their associates. I know of one billionaire who has a person who works for him in Appalachia giving money away. He does things like buy people a new fridge, etc. Nothing so big that it attracts a lot of questions. My partner and I have a "just say yes" account. Currently, we each put $1000/month in it. We use it for tickets to charitable events, when the neighbors grandkids have school fundraisers, actual charitable donations, etc. When someone asks us to buy a ticket, make a donation, etc., we "just say yes." I would love to be able to increase that monthly amount to 6 figures and choose some organizations to support and/or provide local impact.
+42 @Byronthebanker "If money be the world's curse, may the Lord smite me with it, and may I never recover!" $8,000,000 for my private island $30,000,000 scholarship fund for my old high school That's as far as I have thought it through, but I am sure I can manage a life $249.9MM richer than I am now.
+24 @BlueRFR3100 I like the idea that there will be enough money for my children and grandchildren and maybe even beyond them. I would work with a lawyer and financial advisor to make it as secure as possible so that even if they spend like a drunk trying to impress a girl out of his league, they won't go bankrupt.
+17 @hjablowme919 If you win whatever you don’t want send to me
+14 @breadad1969 It’s more money than a reasonable person can spend. So for me, I’m planning to basically give away everything over $50 million. To charities, to family, friends, pay off debts student loans, whatever is needed. $50 million will take care of me and my immediate family for a few generations. Don’t need the rest.
+13 @jbh1090 If you give away most of it, invest and live comfortably and not lavishly off of dividends from investments, you’ll be just fine.
+12 @NelsonMuntz007 I definitely don’t want that much money. I feel the same way. I’d love to be comfortable and instantly retired but there’s nothing I’d want to buy with 200m in the bank that I couldn’t with 2 or 5 or 10m. I also think I’d be paranoid of it being mismanaged or stolen. The greater the amount I won, the more I would simply just give away to the less fortunate.
+10 @Moist_Rule9623 If you’d be happier with 1/10 the money, there’s nothing stopping you from giving away 9/10 of it. I basically agree, for the record, that anything in excess of $10M or so becomes redundant as far as personal wealth. Once I can live really well off the interest on the money in bonds/CDs/savings etc, why am I trying to make any more money over & above that?
+10 @olivebuttercup I would do so much good with that money.