How to use Powerball winnings
tvguy
Question anything the facts don't support.
- Joined
- Dec 15, 2003
When the lottery first came to California, several financial advisers suggested winners take about 1/20th of the winnings and go crazy. Have a good time. Spend it. Bank the other 19/20ths for a year. Then sit down with a financial advisor and put together a financial plan for the rest of the money.
Spending about 5% per year seems like a reasonable plan. Not sure with that amount of money you would really need a financial advisor. I would probably just buy treasury bonds and not worry about anything else.
GAN
DIS Veteran
- Joined
- Jul 18, 2005
Especially these days. 4% of 200,000,000 or so is a pretty good amount to live off for most people
- Joined
- Jun 15, 2015
Buy the Presidency ....
Or at least enough stock to fire him, for not giving DVC members annual passes....
Or at least enough stock to fire him, for not giving DVC members annual passes....
StevieTimes
Earning My Ears
- Joined
- Oct 1, 2019
Mustang
Smugpugmug
IPA enthusiast
- Joined
- Mar 3, 2022
Selfishly I would want to use the money to travel the entire world - I love visiting new places and experiencing new things. I would also want to financially help my friends out and donate to charities/organizations such as the Trevor Project and St. Jude's Children's Hospital.
- Joined
- Jun 15, 2015
the plane or the horse?
starry_solo
DIS Veteran
- Joined
- Nov 19, 2010
Travel
Likely will sell the house, downsize (you don't want crazies finding you!) and then maybe get a large apartment/townhome (that can hopefully be rented under a corporate / trust name?)
Oh and by travel, we are looking at ABDs, National Geographic tours, learning tours, etc.
Likely will sell the house, downsize (you don't want crazies finding you!) and then maybe get a large apartment/townhome (that can hopefully be rented under a corporate / trust name?)
Oh and by travel, we are looking at ABDs, National Geographic tours, learning tours, etc.
DH and I agree that if we should win we would pay off all the debt at the two private high schools our kids attended. Then there are three college scholarships in honor of deceased family members that we already support but would increase that. Finally, each of the universities our kids attended have specific programs that would get additional support. Then we would set up and fund 529 plans for grandkids (already started) and grand nieces and nephews. Then travel around the world.
VandVsmama
DIS Veteran
- Joined
- Mar 28, 2011
Pay off all our debt including the house.
Buy a new car.
Tell my kids they can go to any college they get admitted to regardless of cost.
Put money in college funds for my niece and nephew.
Fully fund the annual teacher fund at my kids’ school for the next 20 years. All funds raised for that go directly to teacher bonuses at the end of every year.
Spend 3 nights in the Big Thunder Mountain Railroad suite at the Disneyland hotel, followed by 3 nights in the Adventureland suite. And a couple of nights in concierge room at the GCH.
Spend a week at Aulani and then a week at a fancy resort on Maui.
Go on that trip to Scotland that DH and I have always been talking about.
Set up a college scholarship fund for the local Native American tribe that’s close to where we live.
Donate a boatload of money to World Vision.
Set up my financial accounts so I could live comfortably and not HAVE to work ever again if I didn’t want to.
Buy a new car.
Tell my kids they can go to any college they get admitted to regardless of cost.
Put money in college funds for my niece and nephew.
Fully fund the annual teacher fund at my kids’ school for the next 20 years. All funds raised for that go directly to teacher bonuses at the end of every year.
Spend 3 nights in the Big Thunder Mountain Railroad suite at the Disneyland hotel, followed by 3 nights in the Adventureland suite. And a couple of nights in concierge room at the GCH.
Spend a week at Aulani and then a week at a fancy resort on Maui.
Go on that trip to Scotland that DH and I have always been talking about.
Set up a college scholarship fund for the local Native American tribe that’s close to where we live.
Donate a boatload of money to World Vision.
Set up my financial accounts so I could live comfortably and not HAVE to work ever again if I didn’t want to.
disneychrista
DIS Veteran
- Joined
- Dec 26, 2002
Buy each of my daughters a home, including updated appliances, furnishings, etc.
Consider purchasing a new home for myself but at the very least pay off and remodel my current home.
Buy myself, both daughters & my parents new cars.
Spend the spring/summer traveling the US visiting landmarks, historical sites and local breweries.
Visit all Disney Resorts, including Aulani, around the world and just for fun in order of their opening.
Consider purchasing a new home for myself but at the very least pay off and remodel my current home.
Buy myself, both daughters & my parents new cars.
Spend the spring/summer traveling the US visiting landmarks, historical sites and local breweries.
Visit all Disney Resorts, including Aulani, around the world and just for fun in order of their opening.
PollyannaMom
I was a click-clack champ!!
- Joined
- May 16, 2006
The usual "small" stuff:
Pay off student loans for various relatives and do some traveling.
Design and build the perfect house (and help a few family members do the same).
For bigger picture stuff, I've got a couple of ideas:
A friend and I have long had what we call "the lottery school folder" where we've tucked articles and ideas for building and running our own school, designed by actual teachers.
I'd also like to start a charitable foundation. I have some ideas for causes I'd like it to support, but I'd fill an advisory board with young people (especially some who grew up poor) and see what they come up with as well.
Pay off student loans for various relatives and do some traveling.
Design and build the perfect house (and help a few family members do the same).
For bigger picture stuff, I've got a couple of ideas:
A friend and I have long had what we call "the lottery school folder" where we've tucked articles and ideas for building and running our own school, designed by actual teachers.
I'd also like to start a charitable foundation. I have some ideas for causes I'd like it to support, but I'd fill an advisory board with young people (especially some who grew up poor) and see what they come up with as well.
Minnesota!
Shoeless in Minnesota
- Joined
- Sep 15, 1999
Usual stuff...pay off stuff, set my kids up, etc.
My #1 goal has always been to start a fund for people who need assistance in building their family. IVF, IUI, adoption, etc. It's SO cost prohibitive and discouraging. Infertility takes away so much...I want to make it not take your money, too.
Then I'd buy a ton of land and start an animal rescue/rehab.
And I'd buy another ton of land and put up tiny homes for those struggling with being unsheltered.
And then I'd buy another ton of land and build my friends all houses on it so we could have our commune we have always dreamed of.
My #1 goal has always been to start a fund for people who need assistance in building their family. IVF, IUI, adoption, etc. It's SO cost prohibitive and discouraging. Infertility takes away so much...I want to make it not take your money, too.
Then I'd buy a ton of land and start an animal rescue/rehab.
And I'd buy another ton of land and put up tiny homes for those struggling with being unsheltered.
And then I'd buy another ton of land and build my friends all houses on it so we could have our commune we have always dreamed of.
slo
My tag used to say - I'm a Tonga Toast Junkie 😁
- Joined
- Feb 28, 2004
One thing I’m going to do when I win, and you’re welcome to copy it when you win is…
Travel
Travel
Travel
After I/we see the world, my DH and I will then decide the different places we’d like to buy a home so we can spend different seasons in different places - the goal is to never live where I’ll see a snowflake again - LOL!
Travel
Travel
Travel
After I/we see the world, my DH and I will then decide the different places we’d like to buy a home so we can spend different seasons in different places - the goal is to never live where I’ll see a snowflake again - LOL!
PollyannaMom
I was a click-clack champ!!
- Joined
- May 16, 2006
I love this!
Wow , this is a disney board and no one mentions going to disney for 6 months. (while your current home is being remodeled LOL).
In my dreams I'd love to give my family 2-3 weeks at disney.....week at BLT, BCV, AKL. VIP tours half the time. Minnie vans for all travel back and forth to parks. If not room service , at least having lots meals delivered (not counting pizza).
And if there is anything left over, I'd stay a few weeks after they all went home.
Then go back to cutting coupons and wearing three sweaters to save on heat.
In my dreams I'd love to give my family 2-3 weeks at disney.....week at BLT, BCV, AKL. VIP tours half the time. Minnie vans for all travel back and forth to parks. If not room service , at least having lots meals delivered (not counting pizza).
And if there is anything left over, I'd stay a few weeks after they all went home.
Then go back to cutting coupons and wearing three sweaters to save on heat.
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