Lets Dream... You win the lottery.

[JohnnyBfromPeoria]

Originally Posted by Jim Burke

Oh and I wouldn't pay taxes, eh.

I didn't even look to see where you lived. How would C-eh-N-eh-D-eh handle such a win by one of its citizens? Would you even be eligible to win if you crossed the border and bought a ticket? (I would assume you would be eligible, I just don't know). Then again, we are dreaming, so lets say you just won it in the exact same-type lottery in your country. Wouldn't you get hit hard with taxes, too? Or are you saying you would disappear?

Three halves...that's funny. Yeah, a lot of these posts are a bit delusional, probably why a majority of lottery winners are broke ten years down the line.

John B.

[Jim Burke]

We don't pay taxes on any winnings. Lotto or otherwise. If we hit the jackpot in Vegas we pay the tax there but can get it back if we hire a lawyer. Which only makes it worth it if it's like 10k or so. There are lawyers who only do that. Unfortunately Canadian lottos never get that high. I think the highest I've seen was 50M

[JohnnyBfromPeoria]

Originally Posted by Jim Burke

Unfortunately Canadian lottos never get that high.

We're dreaming here, Jim. Not like I'm heading down to the local lottery office to claim my $400M any time soon. ('Cause I have to set up that trust first...)

John B.

[Jim Burke]

I hear ya John. The odds are insanely astronomical. I have read that up to 60% of folks are Relying on winning the lotto in order to retire.

[JohnnyBfromPeoria]

Originally Posted by Jim Burke

I hear ya John. The odds are insanely astronomical. I have read that up to 60% of folks are Relying on winning the lotto in order to retire.

I'll let them win the community center poker games. Some times.

John B.

[JBLUES]

http://www.camaro5.com/forums/attach...1&d=1353998186
This would be on the list.

[Mr. iNCREDIBLE]

Lotto = Tax for people bad at math..


nothing more.

[dolt45]

Double the size of my porn collection!

Ok, ok, seriously... I'd retire and buy some old gearhead stuff to restore. The rest I'd use to set up trust funds that would keep sprinkling money into children's charities loooooong after I'm dead and gone.

[Abomb1223]

Originally Posted by JohnnyBfromPeoria

If I won the current Powerball jackpot:

1. Sign the back of the ticket.

2. Contact a good lawyer and investment team; set up living trust.

3. Establish permanent fund to perpetually pay my mortgage, taxes, insurance and utilities on my house. I'd keep the house for good time's sake. Toward this thinking, I would stipulate to the trust that any durable asset I (oops, I mean the trust) acquired be treated the same way; there must be funds in place to continue its operation, maintenance and repair.

4. Buy land. They're not making any more. Particular attention paid to land with potential mineral rights, exceptional views, great climate and/or solitude. Perhaps some of each.

5. Set up huge fund within the trust to provide for most potential health issues and eventual long-term care, should it become necessary.

6. Quit my job, dress as a regular person and buy things for people in line in front of me, hand out small sums of money to random people, help those I see fit to help, visit veterans in V.A. hospitals and kids in childrens' hospitals, and fund little causes I feel drawn toward.

7. Learn to play saxophone. And piano. And get better at playing drums.

8. Try to relearn how to be a kid.

9. Try to make sure my family and friends never find out. Good things would just 'happen' to them.

10. Fly a kite once in a while. I like kites. But mine would go really high and dispense money once no one could tell it was happening.

John B.

Love this.

[Abomb1223]

If I won I would give each person on this thread $1000 to help their mod addictions : ) I mean that too! Mark my words!

[Lawdog1911]

Originally Posted by Lawdog1911

St. Judes gets my charity

Parents well taken care of

Build my House I have designed

Build my Dream Garage / Shop

Get my ZL1's
* Facorty one
* T-Top one
* Convertible
* Wide Body
* Trans Am Conversion
* T/A Bandit T-Top
* T/A Convertible
* T/A Wide Body

Million Dollar Super Car

Thats it for now.

What my Wife decides to do with it though, is another story and may effect my list.

[Dawn55430]

I tend to be grounded and practical, but that amount (either 25 or 400) would probably give me a heart attack. Then my relatives could fight over it as I laugh my a$$ off from the beyond.

But if I survived, I'd like to think I would buy a few toys, pay a few bills, donate to a couple worthy charities and help out some family members. But I would hope I would invest a majority of the principle well enough to have enough interest so I wouldn't have to work and could afford to play. I'm a secretary, so we're not talking wall street mogul. And still be able to live comfortably and provide for my grand kid's college.

Like someone above stated, I too live well below my means and pretty modestly, so I don't think I'd make too many radical changes. But unlike them I would quit my job. Only because I love to travel and would take so much vacation time they'd fire me eventually.

[LikaRokBowTie]

Well I could finally afford that new outhouse I been wantin

[JohnnyBfromPeoria]

Originally Posted by Mr. iNCREDIBLE

Lotto = Tax for people bad at math..


nothing more.

But, you also should consider "expected value." If the odds of winning with a single set of numbers is one in 175 million, the wager is two dollars and the jackpot is above 350 million, it is actually not that bad of a gamble.

The expected value of the two dollar wager is slightly higher than two dollars at this point.

John B.