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Post by rockpickerforever on Oct 23, 2018 16:22:38 GMT -5
I got my ten tickets this am, before the crowds hit. You can bet I will be seeking shelter from all the long lost relatives, lol.
Although I can't even begin to wrap my head around that huge amount of $$$, I know what I am going to do with it. That much money, you would be stupid NOT to hire a lawyer and financial advisor. I would stay unidentified for as long as I possibly could.
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Sabre52
Cave Dweller
Me and my gal, Rosie
Member since August 2005
Posts: 20,466
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Post by Sabre52 on Oct 23, 2018 16:33:20 GMT -5
That much money would be a curse. You'd be a target for grifter criminals and ahole relatives, lawsuits, kidnappers, and every charity and church on the planet. You'd need gates and security people. You'd need a pile of lawyers and financial guys all of whom would constantly be screwing you. All your friends would desert you and you'd find plenty of new fake ones wanting a piece of you. You'd have little privacy, you'd have paparazzi trailing you around. You could trust no one and you'd never find peace. And worse of all, you'd need employees and your people, lots of them and I hate having employees or people. Generally, a pain in the ass. Constant headaches with taxes of all kinds and paperwork, stock reports, folks wanting you to invest in stuff etc. Better to have a small win and be comfortable but able to live a normal happy existence......Mel
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Post by rockpickerforever on Oct 23, 2018 16:39:18 GMT -5
Like I'm not already a target of a plethora of people with their hands out? I would become persona non grata, move off the grid. They'd have no way to find me, lol. Yeah, would also have to hire a person to make that happen.
Family members? Very few of those to speak of, would not have a long list of long lost relatives.
The key to not loosing friends is to hire the right people, and keep my name secret.
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Mark K
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Member since April 2012
Posts: 2,600
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Post by Mark K on Oct 23, 2018 16:51:26 GMT -5
The week long party at Q would be epic. With no dirt surfers welcome.
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NRG
fully equipped rock polisher
Member since February 2018
Posts: 1,630
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Post by NRG on Oct 23, 2018 17:43:20 GMT -5
The week long party at Q would be epic. With no dirt surfers welcome. And we go fishing in Miami!
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Post by aDave on Oct 23, 2018 17:52:55 GMT -5
The week long party at Q would be epic. With no dirt surfers welcome. I literally laughed out loud upon reading this. Same reaction when the wife read it. Thanks Mark!
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Tommy
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Post by Tommy on Oct 23, 2018 18:20:41 GMT -5
That kind of money changes everything of course. Eva and I both don't have a lot of extended family or urchins that would try to attach to us so we really don't have to care too much about that part of it. Priorities aside from calling a realtor in the area we want to live, would be all about carefully setting up our immediate family (here and in Germany) (and a few close friends) for life in the smartest way to do it without burdening them with tax debt. Travel. Much travel - extended travel to Germany and surrounding countries. Maybe some rock collecting in Turkey etc. An extended RV trip around the US is a definite must.
Back to reality, we already have a favorite dream spot to live picked out, and we will eventually find our way there with or without a lottery win. A win however would obviously decrease the wait time until we can afford to pull the trigger - and it would dramatically increase the size of the property and comfort of living regarding "toys." It would be nice to arrive there with maybe 30+ decent health years ahead of us instead of maybe 20 but, it's fun to think about and have some goals to work towards.
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Post by MsAli on Oct 24, 2018 7:47:17 GMT -5
I just pray whoever won last night really needed it
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NRG
fully equipped rock polisher
Member since February 2018
Posts: 1,630
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Post by NRG on Oct 24, 2018 9:17:32 GMT -5
I just pray whoever won last night really needed it Who in the H E double hockey sticks "needs" a billion dollars?
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Post by MsAli on Oct 24, 2018 9:26:13 GMT -5
I just pray whoever won last night really needed it Who in the H E double hockey sticks "needs" a billion dollars? Me! Seriously though, I hope it went to someone who has struggled in life, that they are a good human that needed this blessing and I really pray that they give back and do good with it.
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NRG
fully equipped rock polisher
Member since February 2018
Posts: 1,630
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Post by NRG on Oct 24, 2018 9:32:55 GMT -5
TommyNeither buying nor selling gold are taxable events. Thus a gift of gold behind closed doors is the way to go.
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Fossilman
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Member since January 2009
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Post by Fossilman on Oct 24, 2018 10:20:47 GMT -5
I would hire a good lawyer, than get lost....
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Sabre52
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Me and my gal, Rosie
Member since August 2005
Posts: 20,466
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Post by Sabre52 on Oct 24, 2018 11:22:01 GMT -5
*LOL* Buying and selling any precious metal is taxable according to the IRS. Both long tern and short term capitol gains rules apply. Of course you can sell small quantities and probably no one would ever know but if they find out by any manner and you ain't declared it, you are screwed. All that BS put out by the precious metals sellers regarding non tax-ability is just BS according to the IRS.....Mel
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saxplayer
fully equipped rock polisher
Member since March 2018
Posts: 1,327
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Post by saxplayer on Oct 24, 2018 11:45:00 GMT -5
*LOL* Buying and selling any precious metal is taxable according to the IRS. Both long tern and short term capitol gains rules apply. Of course you can sell small quantities and probably no one would ever know but if they find out by any manner and you ain't declared it, you are screwed. All that BS put out by the precious metals sellers regarding non tax-ability is just BS according to the IRS.....Mel This is without a doubt correct.
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Post by rockjunquie on Oct 24, 2018 12:01:37 GMT -5
Yeah, not even Al Capone could get around the IRS.
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NDK
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Member since January 2009
Posts: 9,440
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Post by NDK on Oct 24, 2018 12:15:07 GMT -5
I just pray whoever won last night really needed it So someone won this? Dang I forgot to buy a ticket 😅 Guess I saved a few bucks
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Post by MsAli on Oct 24, 2018 12:20:37 GMT -5
I just pray whoever won last night really needed it So someone won this? Dang I forgot to buy a ticket 😅 Guess I saved a few bucks Yes 1 individual person in South Carolina won Maybe it is a long lost relative
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Mark K
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Member since April 2012
Posts: 2,600
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Post by Mark K on Oct 24, 2018 15:53:09 GMT -5
I Only matched 2 numbers. Needed 3 to win.
No party for us I guess.
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Post by rockjunquie on Oct 24, 2018 16:16:13 GMT -5
Lost Mega Millions? Here's how to turn losing lottery tickets into free pizza Wednesday www.usatoday.com/story/money/2018/10/23/mega-millions-get-free-coffee-7-eleven-tuesday/1740050002/Villa Italian Kitchen is offering a consolation prize for Mega Millions' losers Wednesday. The quick-service pizza brand will allow customers to trade in their losing tickets for a free slice of cheese pizza with the purchase of a beverage Wednesday at participating locations nationwide. “When we heard what the odds of winning the jackpot were, we couldn’t help but feel for all those who would be let down," said Mimi Wunderlich, Villa Italian Kitchen director of communications and digital marketing in a news release. "While a free slice of pizza isn’t a billion dollars, hopefully it will still make someone’s day.”
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NRG
fully equipped rock polisher
Member since February 2018
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Post by NRG on Oct 24, 2018 17:12:04 GMT -5
*LOL* Buying and selling any precious metal is taxable according to the IRS. Both long tern and short term capitol gains rules apply. Of course you can sell small quantities and probably no one would ever know but if they find out by any manner and you ain't declared it, you are screwed. All that BS put out by the precious metals sellers regarding non tax-ability is just BS according to the IRS.....Mel This is without a doubt correct. I'm glad I gave you a chuckle! We can politely disagree though. Personal experience in the real world teaches me that it's the last loophole left in the IRS code. When other investments are sold, sale is reported to the IRS. Therefore the sale must be reported in your tax return. And any gains (long or short term) are calculated and taxed. For me, the sale of significant amounts precious metals multiple times with multiple buyers has never generated a tax document of any kind. Nor is a social security number necessary for the sale of this commodity. That said, the sales are untrackable. The IRS can demand anything it wants. It doesn't demand reporting of any kind, by the dealers, in these transactions. Therefore, in real world practice, it's a non taxable event. You are 100% on your honor to out yourself for any sales of gold or silver. Certainly you would agree, gift taxes are avoided by quiet gifts of this type.
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