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POWERBALL $1.4 BILLION  Rate Topic 
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 Posted: Tue Jan 12th, 2016 07:10 pm
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lobo316



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Alex Ovechkin is a multimillionaire. But he'd rather be a billionaire. Who wouldn't?
With the Powerball jackpot estimated at a whopping $1.4 billion, theWashington Capitals superstar was spotted getting in on the action Saturday, along with his father.
Not even Alexander Ovechkin is immune to Powerball fever @espn @washcaps pic.twitter.com/oXIBkt50ce
— Jimmy Rippert (@fishboyjim) January 10, 2016
God bless America.

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 Posted: Tue Jan 12th, 2016 07:31 pm
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srossi

 

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I've never bought a Powerball ticket in my life, but in the interest of teambuilding I will now do so for the first time.  Someone organized an office pool that currently has 32 people in it, so I threw in my $2 to not be anti-social.  It's funny how no one gives a shit when the jackpot is only $300 million or so, but once it passes $1 billion everyone decides that they have to get involved.  There are probably more office pools for Powerball being organized right now than for the Super Bowl.  That puts into perspective how many people you're competing with. 

Last edited on Tue Jan 12th, 2016 07:33 pm by srossi



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 Posted: Tue Jan 12th, 2016 07:51 pm
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KGB

 

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You're not competing with anyone.  Just the odds of your balls being plucked.



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 Posted: Tue Jan 12th, 2016 08:10 pm
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srossi

 

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KGB wrote: You're not competing with anyone.  Just the odds of your balls being plucked.
That's true, but the odds of being the only one who hits the jackpot diminishes quite a bit with this many people playing.  I don't know how many total combinations of numbers there are, but I imagine a lot of people have the same numbers now.  I think you have a much better chance of being the sole jackpot winner at $300 million and getting it all. 



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 Posted: Tue Jan 12th, 2016 08:11 pm
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srossi

 

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Mark Cuban's advice to the winner:


  • The first thing you should do is hire a tax attorney.
  • Don't take the lump sum. You don't want to blow it all in one spot.
  • If you weren't happy yesterday, you won't be happy tomorrow. It's money. It's not happiness.
  • If you were happy yesterday, you are going to be a lot happier tomorrow. It's money. Life gets easier when you don't have to worry about the bills.
  • Tell all your friends and relatives no. They will ask. Tell them no. If you are close to them, you already know who needs help and what they need. Feel free to help SOME, but talk to your accountant before you do anything and remember this, no one needs $1 million for anything. No one needs $100,000 for anything. Anyone who asks is not your friend.
  • You don't become a smart investor when you win the lottery. Don't make investments. You can put it in the bank and live comfortably. Forever. You will sleep a lot better knowing you won't lose money. 


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     Posted: Tue Jan 12th, 2016 10:01 pm
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    bpickering
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    Now 1.5 Billion



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     Posted: Tue Jan 12th, 2016 10:06 pm
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    tamalie
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    srossi wrote: I've never bought a Powerball ticket in my life, but in the interest of teambuilding I will now do so for the first time.  Someone organized an office pool that currently has 32 people in it, so I threw in my $2 to not be anti-social.  It's funny how no one gives a shit when the jackpot is only $300 million or so, but once it passes $1 billion everyone decides that they have to get involved.  There are probably more office pools for Powerball being organized right now than for the Super Bowl.  That puts into perspective how many people you're competing with. 
    Nevermind antisocial, a 32 way split still gives everyone about $41,000,000 pre tax. Who wants to be the guy left working in the office in the event everyone else wins big and takes off with their millions?

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     Posted: Tue Jan 12th, 2016 10:16 pm
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    srossi

     

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    tamalie wrote: srossi wrote: I've never bought a Powerball ticket in my life, but in the interest of teambuilding I will now do so for the first time.  Someone organized an office pool that currently has 32 people in it, so I threw in my $2 to not be anti-social.  It's funny how no one gives a shit when the jackpot is only $300 million or so, but once it passes $1 billion everyone decides that they have to get involved.  There are probably more office pools for Powerball being organized right now than for the Super Bowl.  That puts into perspective how many people you're competing with. 
    Nevermind antisocial, a 32 way split still gives everyone about $41,000,000 pre tax. Who wants to be the guy left working in the office in the event everyone else wins big and takes off with their millions?

    Very true.  The day that I come in and it's me and 32 temps is the day I jump out the window. 



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     Posted: Tue Jan 12th, 2016 10:17 pm
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    srossi

     

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    bpickering wrote: Now 1.5 Billion
    I was walking down 44th Street and a dude came out of his story and changed the sign from 1.4 to 1.5 right in front of me about 25 minutes ago.  That extra 0.1 might convince those on the fence that it's time to buy.



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     Posted: Wed Jan 13th, 2016 02:11 am
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    HBF



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    Love most of Cuban's ideas, except for 1.  The payout of $930m is one I'd take upfront because 1) I am not going to blow the money and 2) I don't trust the government, period.

    One other thing that most people don't think about is the target you will become. If you win, you should look into a legal partnership to claim the money for you. Children and family members become kidnap targets, and your life can turn into a real-life episode of "Taken".  I've got a few ideas in mind for who I'd use and what I'd do and that, to me, is the main issue. Having crazy money like that creates a whole new set of headaches.



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     Posted: Wed Jan 13th, 2016 02:24 am
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    srossi

     

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    HBF wrote: Love most of Cuban's ideas, except for 1.  The payout of $930m is one I'd take upfront because 1) I am not going to blow the money and 2) I don't trust the government, period.

    He's talking to the average person who will wind up broke within 10 years, or dead within 1 year, if you dropped that kind of money on them.  It's good advice for the typical ham-and-egger who can't control himself, since it's a small measure of built-in discipline, and most people need that. 

    It never ceases to amaze me how many lotto winners wind up broke.  I read one story about a woman who bought a winery and lost all $20 million on it, because drinking wine was pretty much the extent of her knowledge in that area.  That's why I love Cuban's last point about not making investments.  If you were any good at it, you'd already be rich without the lotto.  It doesn't take much to build up a nest egg and get your money working for you if you know how to invest in the first place. 

    But I would absolutely take the lump sum payout for the same reasons as you.

    Last edited on Wed Jan 13th, 2016 02:29 am by srossi



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     Posted: Wed Jan 13th, 2016 02:34 am
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    srossi

     

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    HBF wrote: One other thing that most people don't think about is the target you will become. If you win, you should look into a legal partnership to claim the money for you. Children and family members become kidnap targets, and your life can turn into a real-life episode of "Taken".  I've got a few ideas in mind for who I'd use and what I'd do and that, to me, is the main issue. Having crazy money like that creates a whole new set of headaches.


    This one's going to be the worst unless 150 people it, because there's so much attention on it and they're going to plaster this poor sap's face everywhere.  I don't know what the Powerball rules are, most of the time you have to take part in their promotional campaign and smile with the check and give a press conference and all that shit in order to get the money.  But some lotto systems allow you to cash in anonymously, which is obviously the way to go.  If I was able to be anonymous, I wouldn't even tell most of my family or friends that I won, I would just say an investment paid off and leave it at that.  They'd never know how much I was really worth, which is the way you want it.  Then you can always say you're strapped and not liquid right now when Cousin Joe comes calling with his can't miss idea.



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     Posted: Wed Jan 13th, 2016 02:44 am
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    freebirdsforever2001
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    I would be happy to deal with the headaches of being that wealthy. Only a total and complete moron could blow all of that money.



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     Posted: Wed Jan 13th, 2016 02:48 am
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    Married Jo



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    srossi wrote: Mark Cuban's advice to the winner:


  • The first thing you should do is hire a tax attorney.
  • Don't take the lump sum. You don't want to blow it all in one spot.
  • If you weren't happy yesterday, you won't be happy tomorrow. It's money. It's not happiness.
  • If you were happy yesterday, you are going to be a lot happier tomorrow. It's money. Life gets easier when you don't have to worry about the bills.
  • Tell all your friends and relatives no. They will ask. Tell them no. If you are close to them, you already know who needs help and what they need. Feel free to help SOME, but talk to your accountant before you do anything and remember this, no one needs $1 million for anything. No one needs $100,000 for anything. Anyone who asks is not your friend.
  • You don't become a smart investor when you win the lottery. Don't make investments. You can put it in the bank and live comfortably. Forever. You will sleep a lot better knowing you won't lose money. 

  • He lost me with the first one. If you don't take the lump sum you're an idiot. 



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     Posted: Wed Jan 13th, 2016 03:43 am
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    lobo316



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    Alex Ovechkin has Powerball fever.

    After the wildly wealthy Washington Capitals superstar was spotted buying tickets for the estimated $1.4-billion jackpot over the weekend, he said Tuesday after practice that he plans to drop a few more dollars on the lottery.

    "I'm going to buy some. ... Maybe one, maybe two," Ovechkin said Tuesday, according to NHL.com. "But there's no chance you're going to win. But if I win, I'll let you guys know."

    Brooks Laich, Ovechkin's teammate, isn't mad at him. In fact, Laich's going to be buying some tickets, too.

    "Ovechkin's rich, but he doesn't have $1.2 billion dollars," Laich said, sticking only to the facts. "I bought one too, and I'm going to buy one today, too. Heck, yeah. I've got house payments, man."

    Laich's making $4 million this season, in case you were wondering.

    As for the photo of Ovechkin that was taken over the weekend, well, he can't believe it.

    Not even Alexander Ovechkin is immune to Powerball fever @espn @washcaps pic.twitter.com/oXIBkt50ce

    — Jimmy Rippert (@fishboyjim) January 10, 2016
    "It was funny," he said. "Who's gonna take a picture of me? It's crazy. People are crazy."

    Amen, Alex. And good luck.

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