Ohio Chatter
Ohio Chatter

Forums

All Threads Serious Business Sports Politics Archive Pick 'ems
Log In Create Account

Mega Millions $640 Million

Home ▸ Archive ▸ Serious Business ▸ Mega Millions $640 Million
gerb131's avatar

gerb131

Senior Member

9,932 posts
Mar 28, 2012 9:59 AM
Just saw that. I got 5 on it.
Mar 28, 2012 9:59am
OneBuckeye's avatar

OneBuckeye

Senior Member

5,888 posts
Mar 28, 2012 10:07 AM
The real question is would you take the lump sum or the payment

Lump Sum :

(approx) $257,266,671.00 / $185,232,003.00 (after 28% tax)

Per Year ( 26 yearly payouts (Mega Millions) ) :

(approx) $18,307,692.00 / $13,181,538.00 (after 28% tax) ~Total 340 Million after 26 years.
Mar 28, 2012 10:07am
gerb131's avatar

gerb131

Senior Member

9,932 posts
Mar 28, 2012 10:08 AM
Lump. Not even a tough decision.
Mar 28, 2012 10:08am
OneBuckeye's avatar

OneBuckeye

Senior Member

5,888 posts
Mar 28, 2012 10:10 AM
I agree. I wonder what type of interest rate you could earn on your 180+ mil.
Mar 28, 2012 10:10am
Belly35's avatar

Belly35

Elderly Intellectual

9,716 posts
Mar 28, 2012 10:11 AM
OneBuckeye;1129914 wrote:The real question is would you take the lump sum or the payment

Lump Sum :

(approx) $257,266,671.00 / $185,232,003.00 (after 28% tax)

Per Year ( 26 yearly payouts (Mega Millions) ) :

(approx) $18,307,692.00 / $13,181,538.00 (after 28% tax) ~Total 340 Million after 26 years.
At 62 years old I not sure I can hang on to 26 more years :laugh:. I take the money (lump) and run.
Mar 28, 2012 10:11am
Raw Dawgin' it's avatar

Raw Dawgin' it

Just Ain't Care

11,466 posts
Mar 28, 2012 10:12 AM
lump sum - with that kind of money i'd die within 26 years.
Mar 28, 2012 10:12am
justincredible's avatar

justincredible

Nick Mangold

32,056 posts
Mar 28, 2012 10:18 AM
OneBuckeye;1129914 wrote:The real question is would you take the lump sum or the payment

Lump Sum :

(approx) $257,266,671.00 / $185,232,003.00 (after 28% tax)

Per Year ( 26 yearly payouts (Mega Millions) ) :

(approx) $18,307,692.00 / $13,181,538.00 (after 28% tax) ~Total 340 Million after 26 years.
Lump sum. No doubt.
Mar 28, 2012 10:18am
OSH's avatar

OSH

Kosh B'Gosh

4,145 posts
Mar 28, 2012 10:22 AM
Yearly...probably.
Mar 28, 2012 10:22am
gorocks99's avatar

gorocks99

Senior Member

10,760 posts
Mar 28, 2012 10:26 AM
Definitely lump sum. Even very conservative investing could get you a 2% return. That's about a cool $4m per year on $185m
Mar 28, 2012 10:26am
mcburg93's avatar

mcburg93

permaban to basement

3,167 posts
Mar 28, 2012 10:32 AM
Lump, cause more then likely I will be dead in a month from all the cocaine hookers and drinking Im gonna be doing. I dont want to leave any of it to anyone so will do the best to spend it all before I die.
Mar 28, 2012 10:32am
Devils Advocate's avatar

Devils Advocate

Brudda o da bomber

4,539 posts
Mar 28, 2012 10:37 AM
When I win, I will send everyone;) that gave me reps an IPOD 3
Mar 28, 2012 10:37am
sherm03's avatar

sherm03

I go balls deep.

7,349 posts
Mar 28, 2012 10:47 AM
OneBuckeye;1129914 wrote:The real question is would you take the lump sum or the payment

Lump Sum :

(approx) $257,266,671.00 / $185,232,003.00 (after 28% tax)

Per Year ( 26 yearly payouts (Mega Millions) ) :

(approx) $18,307,692.00 / $13,181,538.00 (after 28% tax) ~Total 340 Million after 26 years.
I'd go lump sum. But that is not the real question. The real question is what is the first thing you do with your money?
Mar 28, 2012 10:47am
Fab4Runner's avatar

Fab4Runner

Tits McGee

6,196 posts
Mar 28, 2012 10:58 AM
Lump sum. I am pretty sure the cash option for Friday's drawing is $340M. Insane. I bought my first ticket last Friday and then got another one yesterday. I am going to become one of those lottery addicts.

First thing I would do is pay off all my bills. Fuck off, student loans! Boring, I know. But whatever.
Mar 28, 2012 10:58am
gorocks99's avatar

gorocks99

Senior Member

10,760 posts
Mar 28, 2012 11:00 AM
First thing I'd do is lawyer up. First thing I'd purchase/pay for with the winnings would definitely be student loans.
Mar 28, 2012 11:00am
justincredible's avatar

justincredible

Nick Mangold

32,056 posts
Mar 28, 2012 11:20 AM
I'd pay off loans and then hire people to do all the things we want to do to our current house. I'd eventually buy a new house, but I'd want to live in the ideal version of our current house for a while. Oh, I'd also buy a pound of weed and a bunch of pizza and invite all the OC stoners over.
Mar 28, 2012 11:20am
sleeper's avatar

sleeper

Legend

27,879 posts
Mar 28, 2012 11:31 AM
Why would people pay off their loans, especially their student loans? That would be one of the last things I do.

I'd donate almost all of it to The Ohio State University. Spend the rest trying to buy a piece of the Cleveland Browns. :thumbup:
Mar 28, 2012 11:31am
justincredible's avatar

justincredible

Nick Mangold

32,056 posts
Mar 28, 2012 11:33 AM
sleeper;1129972 wrote:Why would people pay off their loans, especially their student loans? That would be one of the last things I do.
Why not? One less bill to worry about. It's not like it's going to be any help come tax time anymore.
Mar 28, 2012 11:33am
Belly35's avatar

Belly35

Elderly Intellectual

9,716 posts
Mar 28, 2012 11:37 AM
With that much money....I fix up and put an addition to my present home, close my business, convert the warehouse into my personal classic car garage and pistol/rifle range, get a comdo in Chicago, and maybe one someplace else like Scottdale or Denver on a lake. Help my three daughters (pay off some bills and loans), grandkids setup a trust fund, make sure my grandson get the best ear surgery money can buy.

Buy a few more guns and ammo and travel a little. First trip would be back to Vietnam
Mar 28, 2012 11:37am
DeyDurkie5's avatar

DeyDurkie5

Senior Member

11,324 posts
Mar 28, 2012 11:38 AM
I'd take a shit on skyhook's yard
Mar 28, 2012 11:38am
Commander of Awesome's avatar

Commander of Awesome

Senior Pwner

23,151 posts
Mar 28, 2012 11:41 AM
Probably the lump. First thing I'd do is hire a competent Accountant/financial advisor.
Mar 28, 2012 11:41am
Raw Dawgin' it's avatar

Raw Dawgin' it

Just Ain't Care

11,466 posts
Mar 28, 2012 11:44 AM
Belly35;1129979 wrote:Buy a few more guns and ammo and travel a little. First trip would be back to Vietnam
I hear there are some VC who still think the war hasn't ended - you can hunt them down and relive the glory days
Mar 28, 2012 11:44am
Scarlet_Buckeye's avatar

Scarlet_Buckeye

Senior Member

5,264 posts
Mar 28, 2012 11:50 AM
First thing I would pay for = student loans.
Mar 28, 2012 11:50am
DeyDurkie5's avatar

DeyDurkie5

Senior Member

11,324 posts
Mar 28, 2012 11:54 AM
I'd get rid of all debt.
I'd give 25 of my closest family/friends a million each
I'd buy stake in the Cleveland Browns
I'd get a financial advisor to keep track of the money
I'd then buy a kilo of cocaine, pound of the finest bud known to man, and I'd take all my friends to some ridiculous place and ball out for a week
Then, I'd just sit on my ass and do fun shit for the rest of my life
Mar 28, 2012 11:54am
Belly35's avatar

Belly35

Elderly Intellectual

9,716 posts
Mar 28, 2012 11:55 AM
Raw Dawgin' it;1129985 wrote:I hear there are some VC who still think the war hasn't ended - you can hunt them down and relive the glory days
Perfect I use my wife at Point :laugh:
Mar 28, 2012 11:55am