Web Hosting Talk : Other Forums : Web Hosting Lounge : What would you do if YOU win $314,900,000?

[Artashes]

OK, so the PowerBall dude won the thing. Good for him, especially that his own business generates $17 million in yearly revenue already.

The question is - what would you do with the money if you are to win (even $100 million)? And would it change your life and your lifestyle?

[Curtis H.]

I'd buy a big hunk of land and build a really nice house, etc. Then invest the rest and take life easy for a while.

[JTY]

Decent house, huge garage, private road course, and a few sports cars... not to mention the other small things..

[Artashes]

I would myself invest in ideas. Find talented people, help promote them or invest in their ideas (intellectual/scientific - doesn't matter. I would give most people an opportunity to achieve something so that money isn't the issue. Well, maybe I won't help everyone, but some.. still good.

I would of course find myself a nice house (a home theater in it is a must, buy a few shiny BMWs, learn how to fly an airplane (Cessna is fine) and build my own tennis court so I can be on it 24/7 with my coach...

[Acroplex]

What the secret X-ray camera saw:

[Lesli]

After it had actually sunk in, I think I would:

* buy myself a pair of houses: one to live in, one to rent out. (Hey, always plan for future income.) Maybe buy three or four houses.

* buy my brother a house. He's currently living in a double-wide in Silicon Valley, and would love a real actual house.

* give my parents a chunk of money, because mom's just retired and started a decorating business, and she'd love to have a larger savings balance.

* buy a new computer already ;->

* get a Prius (those electric / gas hybrid cars)

* hire some people to watch my business for three months while I:

* get a flight on the Concorde. I've always wanted to see the curvature of the Earth. It would be neat.

* go on a World Domination Tour (England, Europe, Australia, Canada, back home)

* sock the rest of the money away as it comes in...because I can't think of how else I'd spend it.

[Artashes]

hey, guys, here is an idea:

if $100 mil. is invested under 2.5% annual rate, we get $2.5 million a year in interest income, so basically we can live on the interest income by spending exactly $208,333 every month. neat... and the $100 mil. remain untouched...

[Lesli]

Only problem being, don't they only pay out in smaller amounts, so that essentially the state gets the interest?

(I've never played Powerball, or any lottery. The ignorance shows, eh?)

[ZBoca]

Originally posted by Artashes
hey, guys, here is an idea:

if $100 mil. is invested under 2.5% annual rate, we get $2.5 million a year in interest income, so basically we can live on the interest income by spending exactly $208,333 every month. neat... and the $100 mil. remain untouched...

Yeah- I know the FDIC only insures up to 100k, so I'm not sure how you would do it. I may be wrong, but I can't see anyone insuring your money, and giving you interest on top of that. I may be wrong-- I've never had to find a bank that would insure over the 100k.

[Acroplex]

You split the funds in smaller chunks through a Trust. You need a good lawyer and a trustworthy financial advisor.

[DJiMPaCT]

There is places that will pay you the money upfront and take your payments, they deduct 8% or so of the total though (depending on who it is with).

[ljprevo]

I heard a rumor that they did not have enough $$$ to pay the guy his cash payout, seeing he took that option. Anyone else hear or read this?

[cperciva]

[Lesli]

Originally posted by ZBoca
Yeah- I know the FDIC only insures up to 100k, so I'm not sure how you would do it. I may be wrong, but I can't see anyone insuring your money, and giving you interest on top of that. I may be wrong-- I've never had to find a bank that would insure over the 100k.

We should all feel that pain, eh?

I think that the FDIC insures up to a maximum of USD$100K per account. There is no limit to how many bank accounts a person can have open, or at how many different banks. You might have a heck of a time keeping track of all the accounts, but if you wanted to go this route, it could be done.

[ZBoca]

Originally posted by living_media


We should all feel that pain, eh?

I think that the FDIC insures up to a maximum of USD$100K per account. There is no limit to how many bank accounts a person can have open, or at how many different banks. You might have a heck of a time keeping track of all the accounts, but if you wanted to go this route, it could be done.

Good call. I didn't realize that.

Zak