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View Full Version : Dumb question, but I'm going to ask anyways.



Noodle Arm
06-17-2005, 04:53 PM
Ok I'm guessing you heard about that guy who won $220 million in the Powerball Lottery right? Well instead of taking the $220 million spread out over 30 years (7.4 million a year), he decided to take a 1 lump sum of $84 million (after taxes) instead.

I can understand why he did it since he has a family to take care of (he says he wants to invest it to make a billion), but since I don't have a wife or any kids...and I'm still relatively young...I'd take the 30 year option.

I'm just curious to know that YOU guys/gals would do if you won the $220 million...would you chose the 30 year option or the lump sum?

dolfan4good
06-17-2005, 04:59 PM
Lump Sum! I can make much more with that then having 7.4 per year!

Orange FinFan
06-17-2005, 05:00 PM
I would have taken the 7.4 millon dollar a year option. When you getting that much money why not?

NaboCane
06-17-2005, 05:11 PM
Lump Sum! I can make much more with that then having 7.4 per year!


Yep. I can make that money positively sing at about 20%.

Muck
06-17-2005, 05:15 PM
I used to think taking the 30-year plan was best. But you have to consider inflation. Look at what a dollar is worth today compared to what it was in 1975. Consider what you could get with $1 then compared to now.

I'd take the lump sum and buy candy bars.

Noodle Arm
06-17-2005, 05:16 PM
Yep. I can make that money positively sing at about 20%.

Hmmm that might be a better idea, investing might be the way to go. You can build a nice portfolio in less than 10 years time. I change my answer to lump sum :lol:

zach13
06-17-2005, 05:27 PM
I'd take the lump sum and buy candy bars.

I'd take the whole thing and buy lottery tickets..

ABrownLamp
06-17-2005, 05:32 PM
I used to think taking the 30-year plan was best. But you have to consider inflation. Look at what a dollar is worth today compared to what it was in 1975. Consider what you could get with $1 then compared to now.

I'd take the lump sum and buy candy bars.

That's silly.

If you have a good financial advisor, that money never gets touched. You live off of the interest for the rest of your life. In the end you would have significantly less money if you took the lump sum.

A good financial advisor would never allow that interest to fall below 3% with selected investments. If you think you will not be able to live within your means with 3% interest on 7mil (which increases by 7 mil every year for 30 years) then you need therapy. That's 210,000 dollars for year for year 1. Then $420,000 the next and then $630,000...and so increasing for 30 years

Muck
06-17-2005, 05:35 PM
Better question. What would you buy in 1975??

First things first. I'd get me some new pants. It's high time I catch up and get some bellbottoms. Then I'd get me a badass new Coupe Deville. Who cares if it eats gas. It's not like we're ever going to run out!! I'd travel too. I've always wanted to go to Hollywood. I've been dying to see a taping of The Odd Couple.

Finally, I'd pay Csonka, Kiick and Warfield the money Joe Robbie wouldn't and keep those boys out of the World League. Keep the dynasty alive!!

Muck
06-17-2005, 05:41 PM
That's silly.

If you have a good financial advisor, that money never gets touched. You live off of the interest for the rest of your life. In the end you would have significantly less money if you took the lump sum.

A good financial advisor would never allow that interest to fall below 3% with selected investments. If you think you will not be able to live within your means with 3% interest on 7mil (which increases by 7 mil every year for 30 years) then you need therapy. That's 210,000 dollars for year for year 1. Then $420,000 the next and then $630,000...and so increasing for 30 years

That's all well and good. But I'm taking what I can get before Canada invades us and there's no government to pay me. You have to get out now!! There's no time!! This thing's gonna blow!!

d-day
06-17-2005, 05:48 PM
i'd blow it all - one big party - van halen - phoebe cates - sean penn dressed like jeff spicoli - fast times at d-day high

HugeFinFan
06-17-2005, 05:53 PM
I'd buy the Dolphins :woot:

ABrownLamp
06-17-2005, 06:02 PM
I have heard you are required, at an absolute minimum to have over 700 million in accessible funds to own an NFL team.

I hear that a few years ago, so it might have gone up since.

Nappy Roots
06-17-2005, 07:16 PM
I'd take the whole thing and buy lottery tickets..



:lol:

Nappy Roots
06-17-2005, 07:17 PM
i'd blow it all - one big party - van halen - phoebe cates - sean penn dressed like jeff spicoli - fast times at d-day high


Id have a crack party!

http://www.finheaven.com/images/imported/2005/06/02222004116ks-1.jpg

I WANT SOME CRACK!

SuavePhin
06-17-2005, 08:17 PM
Personally what id do is take the lump sum, i mean cmon 80 mill?? if you can't make that last the rest of your life you have serious issues. But after i got the lump id Immediately divide it up into different banks, even a swiss account if i could, a good amount invested, mutual funds ect. but definately avoid the all your eggs in one basket scenario.....then buy a Miami home and season fin tix :D

Clark Kent
06-17-2005, 08:34 PM
84 million lump sum...

I mean, why not? It's more then enough to last you and the next 20 generations of your family. Not to mention the interest you get... You'll make 7.4 million dollars a year with the 84 already.

If I had 84 million...

- Drop out of college. Who needs that **** when you have 84 million?
- Buy a house in Florida.
- Buy some awesome **** I don't need (TV, Computers, etc...)
- buy Candy Bars... Really, best idea yet :rofl3: