Guard Dog Posted March 27, 2011 Share Posted March 27, 2011 Between State & Federal Taxes, if you won a million dollars you would be lucky if you got 500,000. Actually I think most people take installments so that this doesn't hit them that hard. Unless the law has been changed, once in your life you can take a federal tax deferrment for up to three years for a fee. At the end you will owe all of the taxes accumulated during the deferrment. If you did win a big jackpot you could take that deferrment and then work with the full amount (minus state taxes of course). Of course if you wanted to aviod the tax bill all together you could use that time to get all of your assets and the rest of you too off shore. But then you could never come back. "While it is true you learn with age, the down side is what you often learn is what a damn fool you were before" Thomas Sowell Link to comment Share on other sites More sharing options...
Walsingham Posted March 28, 2011 Share Posted March 28, 2011 I wouldn't get employees though. like drivers and personal trainers, of course people with bad backs are free to do such a thing, especially if she is a looker and not entirely uninterested. (how did that go by the way?) I feel uncomfortable enough having the boy bag my groceries. There is nothing wrong with my arms, that kind of pampering destroys character. My physio didn't work out. I personally have decided to blame an international Jewish conspiracy. Lead by mkreku. I don't like people doing physical work for me. But I'm more than happy to have people help me do physical work, and even happier to have them do paperwork. Actually come to that I know exactly whose PA I'd nick. I just realised that there's a big estate near where I used to live which would make an excellent purchase if I had the big millions. Although now I think about it i would probably end up living in about two rooms like I always do. Sod it, I'll just buy me two palm trees and a hammock. "It wasn't lies. It was just... bull****"." -Elwood Blues tarna's dead; processing... complete. Disappointed by Universe. RIP Hades/Sand/etc. Here's hoping your next alt has a harp. Link to comment Share on other sites More sharing options...
Guest The Architect Posted March 28, 2011 Share Posted March 28, 2011 I think the personal trainer would be a good idea. That way if you're doing weights, at least you've got a spotter for your home gym. I mean who wouldn't want one with that kind of money? I know I would. It's also good if that trainer knows what they're talking about and can keep you on track with a solid diet and training program. Link to comment Share on other sites More sharing options...
Gfted1 Posted March 28, 2011 Share Posted March 28, 2011 One million dollars would not be enough for me to ride off into the sunset but I would buy a nice house/pay off the bills/send the kids to college/etc... Now if I won a ridiculous amount of money Id buy a phat crib on Maui and probably party myself to death within six months. "I'm your biggest fan, Ill follow you until you love me, Papa" Link to comment Share on other sites More sharing options...
Raithe Posted March 28, 2011 Share Posted March 28, 2011 Well, you have to balance out how many big-win lottery winners end up going broke because they buy all this stuff..and never have enough to actually maintain it. Invest a chunk, clear the mortgages of the family.. possibly help a couple of friends. Split a few accounts up.. make sure one pays the bills out of interest earned And one for "petty cash spending". Have a couple of seriously custom designed Alienware pc's set up in a funky lan around the house... Consider the personal training, both physical and several random subjects that might interest me. Definitely look into some world travel... oh, and flying lessons.. possibly sailing lessons.. Really go to work on setting up a proper place for my home library.. fiction, non-fiction and rpg related.. and seriously expand it. And there's the part of me that's also inclined to hire a few PI's to stalk the ex and find out just how well her life is really going these days.. "Cuius testiculos habeas, habeas cardia et cerebellum." Link to comment Share on other sites More sharing options...
Nightshape Posted March 30, 2011 Share Posted March 30, 2011 Hooker and cocaine party... You'd all be invited. I came up with Crate 3.0 technology. Crate 4.0 - we shall just have to wait and see.Down and out on the Solomani RimNow the Spinward Marches don't look so GRIM! Link to comment Share on other sites More sharing options...
LadyCrimson Posted March 30, 2011 Share Posted March 30, 2011 If it was a million after taxes...pay off current small house, use half of the rest to for a huge down payment on a bigger house, rent out the first house, stick the remaining in an IRA or something and then retire in 10 years or so. If it was a few to several million after taxes...I'd just plain retire. Would probably still rent this first house while buying a much bigger house in another state besides California and we'd be comfy until we die. If it was tens of millions after taxes....I'd just plain retire, but in major style. Homes in multiple US states and several modest homes in various other countries, boat, maybe a plane, oodles of toys. Plus I'd donate to fave causes/companies, perhaps start the largest no-kill animal shelter on the planet, help family, etc. ...dream a little dream... “Things are as they are. Looking out into the universe at night, we make no comparisons between right and wrong stars, nor between well and badly arranged constellations.” – Alan Watts Link to comment Share on other sites More sharing options...
Orogun01 Posted March 30, 2011 Share Posted March 30, 2011 Hooker and cocaine party... You'd all be invited. Do you have tiger blood? I'd say the answer to that question is kind of like the answer to "who's the sucker in this poker game?"* *If you can't tell, it's you. Link to comment Share on other sites More sharing options...
Nightshape Posted March 31, 2011 Share Posted March 31, 2011 Hooker and cocaine party... You'd all be invited. Do you have tiger blood? I would if I was a millionare... I'd be smoking 7 gram rocks, because that'd be how I'd roll. WINNING! I came up with Crate 3.0 technology. Crate 4.0 - we shall just have to wait and see.Down and out on the Solomani RimNow the Spinward Marches don't look so GRIM! Link to comment Share on other sites More sharing options...
I want teh kotor 3 Posted April 6, 2011 Share Posted April 6, 2011 Hooker and cocaine party... You'd all be invited. Do you have tiger blood? I would if I was a millionare... I'd be banging 7 gram rocks, because that'd be how I'd roll. WINNING! The Vatican Assassin Warlock does not approve of your misquote. In 7th grade, I teach the students how Chuck Norris took down the Roman Empire, so it is good that you are starting early on this curriculum. R.I.P. KOTOR 2003-2008 KILLED BY THOSE GREEDY MONEY-HOARDING ************* AND THEIR *****-*** MMOS Link to comment Share on other sites More sharing options...
Walsingham Posted April 6, 2011 Share Posted April 6, 2011 Supplemental: I would hire mercenaries to track abduct and transplant certain forum members into the revolutionary fighting in North Africa. And by mercenaries I of course mean Monte. "It wasn't lies. It was just... bull****"." -Elwood Blues tarna's dead; processing... complete. Disappointed by Universe. RIP Hades/Sand/etc. Here's hoping your next alt has a harp. Link to comment Share on other sites More sharing options...
Volourn Posted April 6, 2011 Share Posted April 6, 2011 "Between State & Federal Taxes, if you won a million dollars you would be lucky if you got 500,000." No lottery tax here, DWARVES IN PROJECT ETERNITY = VOLOURN HAS PLEDGED $250. Link to comment Share on other sites More sharing options...
Walsingham Posted April 6, 2011 Share Posted April 6, 2011 "Between State & Federal Taxes, if you won a million dollars you would be lucky if you got 500,000." No lottery tax here, As an aside: surely you'd be lucky either way? "It wasn't lies. It was just... bull****"." -Elwood Blues tarna's dead; processing... complete. Disappointed by Universe. RIP Hades/Sand/etc. Here's hoping your next alt has a harp. Link to comment Share on other sites More sharing options...
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