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Thread: What Would You Do?

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    Senior Member Mark's Avatar
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    Cool What Would You Do?

    You just won the lotto. 5 million is your net worth now. What you gonna do?

    Would you keep on working?

    Would you buy a new car, and what kind?

    Would you change your eating habits? Would you change your smoking habits?

    Where would you go....

    I'll never be rich and I don't really care, I was taught not to worship the almighty dollar, but it's fun to think about sometimes.

    Me? I'm down in Mexico with my lawyer. It would resemble something like that Johnny Depp movie - fear and loathing in Las Vegas. Maybe buy a huge ass boat/yacht and do some sailing around the caribbean... I'm sure if I was lucky enough to win the lotto I would be lucky enough to find a Women. She'd probably have really big "eyes" too.

    How bout you?

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    Senior Member yahoo's Avatar
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    Default Re: What Would You Do?

    I would continue working for sure. new car ...not for sure what I would buy ??? would not change my eating habits ! I would go everywhere I could as long as I would NOT have to get on a plane . AND I would continue locating ...that is for sure ! When I would go back to Disney I would def. stay in the best of the best they have and I would go 3-4 times a year ! I would go on more cruises, and go camping every other weekend ! I would finally go to Wisconsin to see my buddy !
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    Premium Member daman1's Avatar
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    Default Re: What Would You Do?

    I would build a secret lab in my basement and begin where Nickolai Tesla left off and invent a perpetual energy machine. Change the world I would. Put the middle east out of business.
    I would also purchase a helicopter and a book called "Flying Helicopters for Dummies" and die horribly before my invention went to market.

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    Senior Member ProfessionalLocator's Avatar
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    Default Re: What Would You Do?

    Quit working.

    First generation Camaro.

    Eat better food.

    Get a RV and tour mainland US.



    Quote Originally Posted by Mark View Post
    You just won the lotto. 5 million is your net worth now. What you gonna do?

    Would you keep on working?

    Would you buy a new car, and what kind?

    Would you change your eating habits? Would you change your smoking habits?

    Where would you go....

    I'll never be rich and I don't really care, I was taught not to worship the almighty dollar, but it's fun to think about sometimes.

    Me? I'm down in Mexico with my lawyer. It would resemble something like that Johnny Depp movie - fear and loathing in Las Vegas. Maybe buy a huge ass boat/yacht and do some sailing around the caribbean... I'm sure if I was lucky enough to win the lotto I would be lucky enough to find a Women. She'd probably have really big "eyes" too.

    How bout you?

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    Default Re: What Would You Do?

    Quote Originally Posted by yahoo View Post
    I would continue working for sure. new car ...not for sure what I would buy ??? would not change my eating habits ! I would go everywhere I could as long as I would NOT have to get on a plane . AND I would continue locating ...that is for sure ! When I would go back to Disney I would def. stay in the best of the best they have and I would go 3-4 times a year ! I would go on more cruises, and go camping every other weekend ! I would finally go to Wisconsin to see my buddy !
    Yahoo I didn't know I was your buddy?
    yahoo likes this.

  6. #6
    Mke
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    Default Re: What Would You Do?

    If you win 5mil, the first thing you need to do is quit your job. Too much liability. If you had one damage, not cone off a man hole properly, any small thing what so ever. If someone found out it was you who won the 5 mil, you will have to spend alot of that 5 mil to lawyers for the civil suits.

    Here is my idea, I look at the ticket and see that I won. I put that ticket in a safe deposit box and take the next few months to a year to get my afairs in order. I would still work. I would do research and find a financial consultant and a lawyer.

    I would sell my house and buy one out in the middle of nowhere with enough acreage where I won't see any neighbors other then the elk and black bear.

    Max out all my credit cards on new stuff for the house (TV's, Soundsystems, etc...)

    File Bankruptcy

    Then before the ticket expires, I would cash it in.

    Do the preverbial, taking care of the parents and such.

    Go on some vacations during the summer time (novel concept)

    Try my hardest not work again.

    mke

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    Senior Member ProfessionalLocator's Avatar
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    Default Re: What Would You Do?

    That un-cashed lottery ticket would count as an asset the bankruptcy process would require you to reveal.


    Quote Originally Posted by Mke View Post
    If you win 5mil, the first thing you need to do is quit your job. Too much liability. If you had one damage, not cone off a man hole properly, any small thing what so ever. If someone found out it was you who won the 5 mil, you will have to spend alot of that 5 mil to lawyers for the civil suits.

    Here is my idea, I look at the ticket and see that I won. I put that ticket in a safe deposit box and take the next few months to a year to get my afairs in order. I would still work. I would do research and find a financial consultant and a lawyer.

    I would sell my house and buy one out in the middle of nowhere with enough acreage where I won't see any neighbors other then the elk and black bear.

    Max out all my credit cards on new stuff for the house (TV's, Soundsystems, etc...)

    File Bankruptcy

    Then before the ticket expires, I would cash it in.

    Do the preverbial, taking care of the parents and such.

    Go on some vacations during the summer time (novel concept)

    Try my hardest not work again.

    mke

  8. #8
    Mke
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    Default Re: What Would You Do?

    Quote Originally Posted by ProfessionalLocator View Post
    That un-cashed lottery ticket would count as an asset the bankruptcy process would require you to reveal.
    You are correct..... They wouldn't require my obscure relative to reveal the fact that I have it


    Besides, I kid. I wouldn't max everything out and file bankruptcy.... although it did cross my mind.

    mke

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    Senior Member ProfessionalLocator's Avatar
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    Default Re: What Would You Do?

    I figured you were joking.
    While a relative may not reveal you having the ticket when you claimed it you would be given the money. The Federal government requires filing a Currency Transaction Report ( CRT , Form 8300 ) on any money transfer above $10,000.


    Quote Originally Posted by Mke View Post
    You are correct..... They wouldn't require my obscure relative to reveal the fact that I have it


    Besides, I kid. I wouldn't max everything out and file bankruptcy.... although it did cross my mind.

    mke

  10. #10
    Mke
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    Default Re: What Would You Do?

    Quote Originally Posted by ProfessionalLocator View Post
    I figured you were joking.
    While a relative may not reveal you having the ticket when you claimed it you would be given the money. The Federal government requires filing a Currency Transaction Report ( CRT , Form 8300 ) on any money transfer above $10,000.
    PL, To tell the truth, there are various forms you have to fill out when dealing with large ammounts of money. the CRT is just one of them. As for setting up a system where you can have your cake and eat it too, that is where the financial adviser comes in. Hiding money may not be ethical or moral, but there is enough loopholes and systems in place you can file bankruptcy and still have access to your lotto winnings. The actual details are never really going to be encountered so going into the minutia of it all doesn't make sense.

    It takes the fun out of asking, "What would you do?"

  11. #11
    Senior Member Mark's Avatar
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    Default Re: What Would You Do?

    Quote Originally Posted by daman1 View Post
    I would build a secret lab in my basement and begin where Nickolai Tesla left off and invent a perpetual energy machine.
    Dude, I am a perpetual energy machine. I already been invented.

    Seriously, there is probably good reason why I don't run into millions of dollars. I don't think money would solve any future problems I might have and make me happy, I'm doing pretty good right now being poor.

    But then again ... would I turn down the chance to bang a few (Female) porn stars at one of the best hotels in Vegas? I really don't know. I could make a video perhaps. As you can see by looking at my avatar I'm a sexy bastard.

    Fun to dream sometimes.
    Last edited by Mark; July 22nd, 2014 at 08:14 PM.
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    Senior Member yahoo's Avatar
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    Default Re: What Would You Do?

    hey Paint ...I didn't realize I had that many friends in Wisconsin....LOL .....AND Mke...you know you can't get nothing past PL ...that guy was all over that bankruptcy scheme you had planned !!! Well actually it sounded so good I was beginning to think you was a genius ! ha !
    Mke likes this.
    wise men talk because they have something to say and fools because they have to say something....plato

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    Default Re: What Would You Do?

    Mke, if you really want to shield that money, perhaps PL could be convinced to leave his current job and become your financial adviser. He loves his work so much, you'd have to offer six figures + bennies out the ace but, hey, you're rich right? Mke shields his millions Ha !!

    Mark, don't go to Vegas. I'll send some of my girls. I get coupons for sending them new clients.
    Last edited by daman1; July 22nd, 2014 at 10:02 PM.
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    Senior Member Turk182's Avatar
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    Default Re: What Would You Do?

    I'd create a trust fund in my granddaughters name with me as the director of the trust, that way I avoid income tax on the entire sum, and I would invest it through an investment lawyer. As the director I would be paid a salary out of the interest accrued that would be taxable, but in a much smaller amount than the entire sum, and I would use that to build a house and make improvements to the 15 cars I already own, and I would keep the job I have now, it is by far the easiest job I have ever had. Even at something as low as 7% interest the principle is earning $350,000 dollars a year, my entire family can live on that quite easily, and I have little doubt with the right investment plan it could earn at least double that.
    Wingfoot and yahoo like this.

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    Administrator TheCableVine's Avatar
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    Default Re: What Would You Do?

    A new BMW, a set of fine golf clubs, and a road trip... to start.
    yahoo likes this.
    "Change does not always equal progress."

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