What would YOU do?

Adam

The California Super Lotto Plus is up to $131 million. Our office has 35 people buying a single ticket together. Since the organizer picked the "cash now" option instead of the "over 20-years" one, there will be a stiff penalty. With that penalty, divided up among 35 people, and after taxes, each of us would get somewhere in the ball park of 1 million in pocket.

Would you take the "partial cash now" or the "all of it over 20- years" option?

What would you do with $1 million?

What would you do with $131 million?

IslandWoman

What would I do with $131 million?

Buy the Governing Body!

JBean

I'd take the cash now option. How 'bout if I'm not around in 20 years (God forbid!) I'd pay off all my debt, including my mortgage, and pay off all of my immediate family's debt too. Then I'd sit back and take a deep breath, and then decide what to do with the rest! ; )

ThiChi

Remember the 1960's TV Batmobile? I have always wanted to buy it (or a top notch replica) and just drive it around town in a Hawaiian shirt and ball cap!! Is that asking too much????

I am playing solo and in a pool at work. I would go for the 27 payouts. The gov will take 50%, so let them take 50% of 135 mill....

peaceloveharmony

i'd take the cash now option

one million bucks, i'd pay off my debt and my family's debt then i'd travel.

Mindchild

If it were me in this lovely situation, I would have a top financial professional look at the options and advise me to cash out immediately or go for the longterm payout plan.

I would use the money to create a stateless island in part of the world where the water is only a few feet deep and provide the essential infrastructures there to enable entrepreneurs from around the world open up and operate business ventures based on a new paradigm of the more positive the end result of their business application is, the less taxes they paid. So, it would encourage a shift in the business world from thinking only of the bottom line regardless of the end results. The money I made from the leasing of the real estate would be used to make the island larger and larger to incorporate more business inovations and personnel who wanted to be free from the normal governmental BS. Of course I would give all my cool ex-dub friends a job in making it happen.

But then, maybe I would buy my way into space with the Russians and setup my own version of Skylab and everytime I flew over NYC, I would flip the Borg the Bird.

Skipper

Adam

Hey, I just had a great idea for any Canadians out there. You could buy a figure skating judge or two. With a couple judges in your pocket you could make sure that the Canadians don't get the shaft in 2006 like they did this year.

Adam

Mind, like you I would go to a money man as soon as I found out that a check was coming my way (after recovering from the celebratory hang over of course). I hear that 75%-80% of lottery winners end up filing for bankruptsy in a few short years after they win. Unfortunatly you must choose "now" or "over time" when you purchase the ticket. Personaly, I would choose the "over time" option. That would keep me from spending it all right away and I'm only 25 so I could spend the rest of my life in semi-retirement if I was smart with the money. Maybe instruct skydiving once in a while for a few extra bucks. Perhaps I could pay someone to teach me how to spell.

Kep

I would take the cash option.
Pack my family for a vacation, call into Aussie, pick up my siblings and we would be off to the next Apostofest.
Have a bit of down under representation.

TD

You don't have much of a choice when you're in with a group. Those that opt for cash ususally outnumber those that would prefer the anuity by about four to one.

There's a bright side though. They say a smart invester can usually make the cash outperform the anuity. The only problem is who's got that much self discipline?

What would YOU do?

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