Powerball

[jp1]

Apparently the winner of the billion dollar ticket bought it in a tiny bodega just off of skid row in downtown LA. Ot will be interesting if it was some homeless or almost homeless person to see what they do with all that money.

[bae]

We had a local win a sizeable lottery here about 15 years ago. She went from poor to very very wealthy nearly overnight.

She lived < 5 years after that, died broke at a very young age by her own hand, after being picked over by vultures.

[jp1]

Yeah, I can’t imagine it would be easy or fun for someone with nothing to sudden no ly be one of the richest people in the country. The number of people who would try to score some of that money would be awful. I’ve long joked (but been fairly serious) that if I ever won this kind of jackpot I would call SO and tell him where to meet me, and then wipe and toss my phone into a random trash can and head for the airport. A few months later I’d reach out to my sister, etc. I have 28 cousins, none of whom I’m close to. Between them and ever other person I’ve ever met I can only imagine how dreadful it would be in the months after winning such a big prize. And I’m someone with reasonably decent financial literacy. I can’t imagine being a lifelong poor person and having to figure out how to deal with this much money.

[bae]

By pure coincidence, I just came across this article related to sudden wealth:

https://collabfund.com/blog/rich-and-anonymous/

[catherine]

By pure coincidence, I just came across this article related to sudden wealth:

https://collabfund.com/blog/rich-and-anonymous/

This is exactly why I don't play the lottery. There's a little superstition involved...I figure if I were to win the lottery the gods would exchange the money for something else of value that I already have, like relationships or my health, and I'm certainly not willing to make that trade. I've already won the Powerball of life, even though very little of my "winnings" are in a bank.

I do play the cash word crossword scratch-off, though. It's a fun scratch-off, and the most I can win in VT is $5000, so I don't think my life would change even if I won the top prize.

[happystuff]

Yes, the being "anonymous" would be important if I suddenly found myself rich.

Oh, and I guess I didn't win. :( :D

[iris lilies]

Realistically, the most I would want to win would be a few million dollars. That be easy to set up give away programs for local charities and I wouldn’t have to have a national profile. Winning 1 billion is such a responsibility but doesnt the government get half of it right away? It would be easy to get rid of half 1 billion if it went to old buildings worldwide.
Like rebuilding Notre Dame, would 1 billion even touch that rebuild? Who knows.

[iris lilies]

Multi billions. It cost multi billions to rebuild Notre Dame.
.
Well that’s good to know I can tuck that little piece of information away for when I win the billion dollar lottery.

I will have to play it that first.

[bae]

Realistically, the most I would want to win would be a few million dollars.

When I had "lots" of millions, I gave ~90% of it away to projects involving sustainable fishing, because I like the ocean and enjoy eating fish. I kept "some" millions to live on for the rest of my days. In retrospect, I probably would have been clever to keep "2x some" millions to account for some of life's uncertainties, but it all worked out anyways.

"Some" millions of dollars buy you your life and time and independence. "Too many" millions quickly becomes a job, and who wants that?

[jp1]

I think the cash prize lump sum was like $560 million. After a 24% withholding the winner will have around $424 million left. Since I do buy tickets from time to time maybe I should put more thought into what I would do beyond the first few days after winning…

[iris lilies]

"Some" millions of dollars buy you your life and time and independence. "Too many" millions quickly becomes a job, and who wants that?

Yes, that is it in nutshell. There really is a financial asset sweet spot for remaining independent and being able to steer the ship of your life.

I’ve always thought it’s a gift to be born middle class in middle America. I don’t have the burden of poverty, but I don’t have the burden of generational wealth either. I have a friend who has generational wealth and responsibility. Uniquely, her family passes the family estate to the eldest female so she’s got it coming her way and she ain’t happy about it.

[LDAHL]

Having too much money strikes me as one of life’s easier problems to solve.

[Tradd]

I refuse to play the lottery. Even when coworkers do it. You always hear of people’s lives being ruined. And I don’t believe there is an option to keep your name private in IL if you win. So everyone is coming at you. No thank you.

[jp1]

At this point in my life winning an absurd amount of money wouldn't really change what I do financially. I already live below my means on a decent income. I'd just put the money in the bank and then figure out how much to keep, how much to give away and to whom and go on with my life. But someone on skidrow isn't going to be starting from the same place that I am. They will likely be overwhelmed and make lots of bad decisions.

[pony mom]

I'd like enough to be able to quit my job to give me time to do all the things that I don't have time for when working full time. Just a few million, like maybe five or six. I'd probably still be frugal and check prices on everything and not go overboard. Having that kind of money would mean stopping in a bakery for a cupcake and not thinking about the price.