What would you do with the 1.4 billion?

Seriously.....keep 20-25%, give the rest away in a charitable foundation or non profit! I don't want to complicate my life......

 

I think even 20%of 1.4bil would complicate things. Still the kind of complication I can live with.

Powerball - FHC ticket pool | Firewood Hoarders Club

 

I'd buy 1000 acres in some remote area and build a cabin to never be seen again.

 

Somehow, someway I would give every penny away to help others whose need is greater than mine. I am dead serious. The disparity between the haves and have nots is at the root of all the hatred and resentment in the world. Somehow, someway we have to be leaders in a quiet and loving way. As soon as we have wealth our concern is controlling all the things and people who threaten our new found wealth. It will totally obsess our minds and lives. We will worship the wealth instead of God. I refuse to allow this to rule my life - a precious gift from God. I have done this in the past (a large sum that fell in our laps) and it was the best decision I ever made. It's really not difficult once we give our all to God. For those who love God you just have to trust Him and ask Him to help you every step in your life. Please do not be offended by these words. Money is just that - money. God is life!

 

I would take care of alot of people and donate to something that has to deal with kids diseases. Gotta take care of our future. God bless the person that hits it. I hope it's spread out so a few people win. Good luck FHC

 

Ditto.

 

I would spend the majority of the money on wine, women, and song. Then throw the rest away on dumb stuff!

 

Do some maintenance on my house, pay off my kid's new home, help a few dear friends, and maybe get a new Harman pellet stove. (Maybe)

Drop out of sight so all the scammers could not find me.

 

I've thought about that a lot recently (not that there's really a chance of me winning it). It'd be REALLY hard to keep any semblance of a normal life after winning THAT much money, even if you donated the majority of it. I'd probably take the 30 year payout just so there wouldn't be a risk of going crazy and blowing it all in a few years, and set up a mutual fund or something with a percentage of it to make sure I'm good until I die, and my kids are comfortable. And I'd buy about a county worth of land and spend the time shooting and riding dirt bikes and getting together the 20 cords of wood I'd need to heat my "moderately" sized new house I'd build, and ginormous garage/workshop/indoor shooting range!!

I think the thing that would suck the most is I'd want to share my space with friends, letting them come and shoot and ride with me. But I'd bet a lot of those friends would end up having their hands out, and the few that wouldn't I'd probably be paranoid about them anyways so it'd probably ruin the friendships. And while my immediate family is pretty level headed and of course I'd help them out some, I'd probably have to shut out everyone on my dad's side completely.

 

I don't know.... but I'd welcome the opportunity to figure it out. The thing about such a monstrous amount of money is it could do so much good, so before anyone got a handout I'd think long and hard about how it could benefit the most people, both immediately and long term.

 

my new full time job would be philanthropy. That would be a great job think of it. of course I would help out family and Friends but what to do with another 500 million. But after hire someone to cruise fund me sites and people in need verify their stories and spend rest of your time improving people's lives. I still believe if your problems can be solved by money you should give thanks. Cancer, ALS, and others diseases cannot be cured by money.. Example Steve Jobs, but it would be fun helping ones that can..
,

 

Honestly, I'd feel like a millionaire if my mortgage was paid off!

 

I'm paying mine off next month!

 

Lottery winning 101: First get a lawyer and a tax expert
posted in 2014

• Advice for instant lottery millionaires -- get a lawyer.

That's the new mantra in an age when winners can become not just rich overnight, but fabulously wealthy multimillionaires with all that entails -- fame, celebrity, begging letters and scam artists.

The latest Powerball jackpot is worth about $400 million, the fourth largest jackpot in the history of the game. There was one winning ticket sold in South Carolina, but as of Thursday afternoon, no one had yet stepped into the glare of the TV lights to claim the prize.

Payouts of this size are rewriting the conventional financial wisdom about how the lucky winners can best handle their good fortune, from tax advice to the shape of their reconfigured lives. "Buy that Rolls and save the rest," has become, "Lawyer up and start a foundation."

A major revamp last year upped the cost of a Powerball ticket to $2 from $1, and it also has led to sweeter jackpots in shorter periods of time. Since March 2012, when a record-setting $656 million Mega Millions jackpot was awarded, the U.S. has awarded some of its largest lottery prizes ever. That includes Powerball's largest jackpot of $590 million, which was won by a Florida widow in May.

For the lucky winner, here's a checklist of things to do:

Protect your ticket. Sign your winning ticket, make copies of it and stash the original in a safe-deposit box. If you are separated from the ticket, your signature should ensure you won’t be separated from the prize. The safe-deposit box will help ensure you’re not separated from it.

Get help before you claim the prize. You’ll have three months (in most states) to come forward with your winning ticket. You likely won’t be able to keep your secret under your hat for that long, but before identifying yourself, assemble a team consisting of a financial planner, an accountant and a lawyer, with the lawyer being your first call. Lottery winners are often subject to legal claims out of left field, sometimes from co-workers who went in (or declined to) go in on a pool ticket.

Stay anonymous, if possible. Another reason to hire a lawyer first is for help creating an entity, such as a revocable living trust or a family limited partnership that masks your personal identity.

“Anonymity gets a lot of the initial fanfare out of your face,” said Keith Fenstad, director of financial planning at Tanglewood Wealth Management in Houston.

In many states, however, winners are required to divulge their names for publicity purposes. If you have to identify yourself, change your phone to an unlisted number to avoid calls from scammers and “friends” who surface to make special pleas. You may consider moving to an undisclosed location, even temporarily, to avoid the crush of the press.

Take the lump sum. Winners must choose whether to receive 30 annual allotments or a single payment, a choice that’s often made based on the tax ramifications. But since taxes are likely to be going up, it’s better to have even a lesser amount taxed at lower rates—and your annual payments are going to take a tax hit anyway.

More pertinent is your age. The biggest payout to a single Powerball winner occurred in May, when an 84-year-old widow from Florida took her $370 million pretax payout at once.

“It’s more of a personal question than a tax question,” said Peggy Johnson, a CPA based in Broken Arrow, Okla., who points out winners of big jackpots will be in the highest bracket either way. “If you’re a wise investor, it makes sense to take it all at once.”

Take a breath. Give yourself time to emotionally and mentally digest what the money means to you. The biggest financial threat lottery winners face is the temptation to reward themselves with cars, boats, and extra homes. Until the thrill of winning passes, experts advise, stick the money in a low-risk interest-bearing account, where it will start to accrue immediate profit. Meantime, spend a few days figuring out how many Ferraris you really need.

Pay off your debts. Tales of lottery winners who are broke today are often about those who won $5 million or less, not $250 million.

“You can’t give that much money away,” Fenstad said, pointing out that the first $5.25 million you give your brother-in-law is free; the next $5 million will be subject to a 45 percent federal tax.

But let’s say you squandered your Powerball haul on bad investments. You don’t want to have blown $175 million and still owe anything on your car loan.

Set a budget. Conservatively speaking, a $250 million lump-sum payout, placed in diversified mutual funds and bonds, should generate some $4 million a year after taxes.

Consider setting an amount in this range as your annual budget, Fenstad suggested, leaving the principal as a backstop and the basis for wealth across generations. The pleasure of spending diminishes over time, after all. The pleasure of having it doesn’t.

Name your charity. Eventually, experts say, someone sitting on several hundreds of millions starts to think of their legacy—and ways to reduce the taxes now, and on their survivors when they go.

“Charitable giving would likely become a big part of your life,” said Fenstad of the lottery winner.

 

I had 300-400 acres in mind.

 

Still a chit-ton of money, but not nearly what you immediately think it is.
Taxes on a $1.4 billion Powerball jackpot could be $400 million

 

It'd take some skimpin' but if I tried really hard... I miiiiiiight be able to live on that billion that was left...

 

Read the whole story........there won't be nearly that much left. That was just the Fed tax.

 

Well that's it then... I'm out... gonna wait until it's a real jackpot...

 

That's what I keep sayin'.
Gotta' show me da' money!