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Author Topic: winning the lottery  (Read 1075 times)

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Carlos del Vaca

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winning the lottery
« on: January 07, 2016, 07:30:05 pm »

Interesting discussion at the office today. The PowerBall jackpot, as most of you probably know, is currently at a record $700 million, and will probably go higher before the drawing Saturday. Like many chumps, I bought a couple tickets for the last drawing, and will probably buy a couple for this one. While these games are rightly known as "a tax on people who are bad at math," when the jackpot gets this high it's potentially not a completely terrible bet, and anyway it's fun to dream blah de blah.

On the other hand, anecdotal evidence shows that for many people who win these prizes, their lives are actually ruined by it. They squander the money, it tears their family apart, they are treated differently by everyone.

So especially for a $700M prize (more like $400M if you take the lump sum, and $200M after taxes, but still), you can try to remain anonymous if your state permits it, but people will inevitably find out. It's amusing to think money won't change you, but really, what will happen to your life if you suddenly win that much cash? Yeah sure, I'll stay in my house, the kids will still go to school, I'll quit my job and find something amusing to do... but EVERYONE YOU'VE EVER MET will now be hitting you up for cash, and everyone in your neighborhood will be treating you (and your family) much differently. Worst case scenario, someone will try to rob your house, kidnap you for ransom, that kind of thing.

I've come to the conclusion that you would have to move. Go to Manhattan, San Francisco, a Caribbean tax haven, or somewhere else lots of obscenely rich people already live, and try to blend in there.

Me, after winning, I'd immediately announce my intention to buy a baseball team (minor or major league, depending on the size of the windfall). All the money's going towards that, so don't nobody even ask me for anything.
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wombat

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Re: winning the lottery
« Reply #1 on: January 07, 2016, 08:27:06 pm »

I thought for one second about buying a ticket but I have never bought a lottery ticket in my life and don't even know where to get one.

No way would I stay in my house, I'd buy a much nicer house. Or a zoo. Or move to Japan. Wait - move to Japan and buy a zoo there, that's it.
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theinevitable

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Re: winning the lottery
« Reply #2 on: January 07, 2016, 09:35:53 pm »

I would buy an enormous apartment complex somewhere in NYC and set it up as a limited equity co-op. And pay people to do all of the unpleasant parts of managing that structure.

I'm not a saint, I would also blow money on fun stuff.

(maybe buying a ton of historic houses in St Louis would be a better use of these hypothetical 100s of millions)
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AugustWest

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Re: winning the lottery
« Reply #3 on: January 08, 2016, 01:59:51 pm »

I'd buy Keith Moon's head.
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Carlos del Vaca

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Re: winning the lottery
« Reply #4 on: January 08, 2016, 08:16:09 pm »

On the Nerdist podcast, Chris Hardwick quoted someone successful in the entertainment industry (JJ Abrams, maybe?) as saying "Don't worry about making a lot of money. There's nothing to buy." That may be true of material things, if you're not into that. But I could sure as shit blow a ton of money on travel if given the opportunity.
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AugustWest

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Re: winning the lottery
« Reply #5 on: January 08, 2016, 08:46:49 pm »

The thing I would buy is all of my time.  I wouldn't have to sell 50+ hours a week of it to somebody else. 

I'm pretty happy with my current lifestyle. I mean, I could spend all kinds of money if I wanted to, and probably would given heaps of the stuff.  But the really appealing thing is never having to worry about working to support yourself again and just spending your energy doing whatever you fuck*ng well want to all day.
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wombat

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Re: winning the lottery
« Reply #6 on: January 08, 2016, 08:48:39 pm »

On the Nerdist podcast, Chris Hardwick quoted someone successful in the entertainment industry (JJ Abrams, maybe?) as saying "Don't worry about making a lot of money. There's nothing to buy." That may be true of material things, if you're not into that. But I could sure as shit blow a ton of money on travel if given the opportunity.

Only people with a lot of money say shit like that.
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Re: winning the lottery
« Reply #7 on: January 08, 2016, 11:31:12 pm »

I'd like to think I am smart enough to avoid the pitfalls of winning the lottery, but who knows? I'd like to find out.
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Re: winning the lottery
« Reply #8 on: January 10, 2016, 06:10:37 pm »

Only people with a lot of money say shit like that.

Exactly. What an asshole. I'm sure he lives in a modest house in the valley.
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Re: winning the lottery
« Reply #9 on: January 12, 2016, 06:08:43 pm »

Only people with a lot of money say shit like that.

True. Just as people who are already successful say "Follow your dreams, and don't take no for an answer."
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Re: winning the lottery
« Reply #10 on: January 12, 2016, 09:23:27 pm »

Like those writers whose books were rejected 100 times and then became a massive success. You never hear from the writers whose books were rejected 100 times and they died unpublished.
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Re: winning the lottery
« Reply #11 on: January 12, 2016, 09:59:02 pm »

Like those writers whose books were rejected 100 times and then became a massive success. You never hear from the writers whose books were rejected 100 times and they died unpublished.

Made me think of this!
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theinevitable

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Re: winning the lottery
« Reply #12 on: January 15, 2016, 04:40:05 pm »

Yeah, my first instinct was "become my own boss" but that guy is the WORST boss because he never thinks things are good enough. I'm sure some rich person somewhere has figured out the right way to do this.
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Re: winning the lottery
« Reply #13 on: January 15, 2016, 05:38:28 pm »

When you are your own boss, you have no one else to blame for anything. It's a mixed blessing.
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theinevitable

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Re: winning the lottery
« Reply #14 on: January 15, 2016, 05:49:42 pm »

My dad has expressed that he doesn't understand why people are scared to be the boss-- if you're pissed off about something you can just fix it yourself instead of being mad at someone about it.

But he has apparently unshakeable self confidence.
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