July 9th, 2003

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02:48 pm - on what I am going to do with my Powerball winnings
so tonights Powerball Jackpot is currently set at an estimated $250,000,000. Since the odds of winning the Powerball jackpot are only 1 in 120,526,770, I decided it would be a good idea to play. If only I had enough money to buy all the tickets, and then double my cash.

So the question is, when I win my $250million, do I take it in annual payments of $8.3million or in one nice big lump payment of $141million. Also, I need ideas of what to spend my tons of loot on. sui66iy suggested that I wouldd need to create a foundation to come up with worthy causes to donate to, and now that I think about it, he's right. Once I buy my dreamhouse, the HDTV, the yacht, have a couple of kids and send them to good colleges, get a couple a snazzy cars, travel around the world, buy some CDs, and indulge my cocaine habit, I'm still going to be sitting on top of like $247million. So I ask the land of LJ. What should I spend it on?

Current Mood: [mood icon] exanimate

(12 comments | Leave a comment)

on what I am going to do with my Powerball winnings - graffiti.maverick

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[User Picture]From: kochansky Date: July 9th, 2003 - 11:51 am (Link)
Buy lots of really cool artwork from struggling artists.

[User Picture]From: chrismaverick Date: July 9th, 2003 - 12:13 pm (Link)
yeah... like me! ;-)
[User Picture]From: jetgrrl01 Date: July 9th, 2003 - 11:56 am (Link)
Spend your time taking classes in whatever the heck interests you, with no regard for grades or degrees. :)
[User Picture]From: chrismaverick Date: July 9th, 2003 - 12:14 pm (Link)
:-) that's what I did from 1992-1998
[User Picture]From: rmitz Date: July 9th, 2003 - 12:16 pm (Link)
Aside from the fact that companies do what you suggest....

I think you take the lump sum. You should be able to do a better job investing than they. Of course, you need a lot of help with the tax planning....
From: ludimagist Date: July 9th, 2003 - 12:20 pm (Link)
Become a theater and film producer.

Preferably plays and films that involve me.

Start a comic book company.

Keep a harem.

The possibilities are endless.
[User Picture]From: katieboyd Date: July 9th, 2003 - 12:34 pm (Link)
So, I like to play the lottery once in a while. But I don't quite understand the mechanics of Powerball. I know there's something special about the special 'power' ball, but I don't know how it works. It's not that I'm dumb. I just haven't paid attention to this yet. So, how's it work?
[User Picture]From: chrismaverick Date: July 9th, 2003 - 12:51 pm (Link)
yeah, its a little different. You take five numbers between 1 and 53 and one number between 1 and 42 (the Powerball). If you get the powerball right you win $3 off the back. If you get the powerball and one other ball its $4. The powerball and two other balls... or three balls that aren't the powerball and you win $7. The powerball and three other balls or four balls that aren't the powerball gets you $100. The powerball and four other balls gets you $5000. The five balls that aren't the powerball get you $100,000. The powerball plus the other five balls gives you the jackpot, which right now is $250million. It costs a dollar to play, or if you pay an extra dollar, then all the prizes (except the big jackpot) are multiplied by a random number between 2 and 5. That's about it.
[User Picture]From: wooble Date: July 9th, 2003 - 01:07 pm (Link)
If you take the lump sum payment, you'll be completely broke in under 2 years. But you'll have a lot of neat stuff.

After taxes, you would probably have around 80 million anyway, not 247 million. Unless Bush manages to push through his "no taxes at all if your income is more than 1 million dollars" plan.
[User Picture]From: dariaphoebe Date: July 9th, 2003 - 01:21 pm (Link)
Fund development of some good open source software. Whatever software interests you, or you use, or need.
[User Picture]From: sundaygray Date: July 9th, 2003 - 04:53 pm (Link)
[[So I ask the land of LJ. What should I spend it on?]]

I like giftez.
[User Picture]From: mamarayne Date: July 9th, 2003 - 05:27 pm (Link)


I don't see ANY mention of MamaRayne! I thought we discussed this...how could you forget?

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