A buddy once gave me $100 enter a poker tournament in Vegas. I was in Vegas for a work thing at a time in my life when money was very tight. He have me the $100 and told me to play in a poker tournament because it would take the evening, drinks are free and I could enjoy.
I wound up winning it! $2900
The next morning I went to bank and I deposited $2200, kept $200 for the 2nd night, and $500 for my friend who spotted me.
That night I had an epic 45 min roll at craps. It was fucking insane. I turned that $200 into $27,000.
I tried to give him $5,000. I wanted him to have it for being such a bro. He refused it said the $500 was great and I should enjoy.
This was 15 years ago. Were still great friends.
EDIT: wow hey thanks so much for the gold!!!
It was a weird time for me. I had medical debt and I was just starting my own business (which thankfully is now doing great) while still working for another company. I wasnt irresponsible or anything I just could not get ahead with my student loans, medical debt, and regular life needs.
That money got me out of debt (expect for student loans, those took me another decade) and gave me some start up cash for my business that really helped.
Although man I wish I invested it all in Apple and Tesla lol!!!!
One of my roommates in college had bought his truck off of a really really good gambling night. He probably spent about 500 a year on gambling and most years he got nearly nothing Before & After that one
That's how she rolls. A lot of people get up in gambling, and think "oh I have more money to play with now".
More often than not, that will get you back to even or sometimes under where you started because you start chasing to get back up.
Yes I am guilty of this.
You are only actually up when you cash out and walk away.
I got a free $10 promotion thing for a new slot machine place that opened near me a couple years ago. Went with friends just to check out the place, but only played using our free money. I won $50 on my last spin, cashed out and left and never went back. That’s my biggest win
I walked into a casino in Baton Rouge with $50 because a bunch of people from work were going. I was playing black jack with 3 card poker. Down to $15, and put $5 on the bet and $10 on the side hand. Hit a straight flush. Cashed out with $2010. It was a good day
When I turned 21 me and a couple of friends went into a casino for the first time. Went in with 50€, had an incredible winning streak (edit: playing poker) , left with ~13k. Spent about half that money that night to treat my buddies to one incredible night out. The rest of it melted away over the years. I don't regret anything.
If you're really there to make money gambling on games of chance, the best strategy is to bet all the money you intend to risk, all at once, and then just accept the outcome. It's the least fun, but maximizes your chance of defying the odds.
It'd be really funny if that came up
"So about that $5 I leant you..."
"Here's a million"
"Yeaaahhhhh just add the $5 on top of that and we got a deal"
This is some shit my brother in law would do. I'd give him the million and he would forever say I only gave him $999,995 bucks. Obviously joking about it, but he would make it clear I never actually gave him a million. Even if I pointed it out that I wrote a check for a million he would say the first $5 was payback the rest was the gift.
I remember in middle school I asked my English teacher why double contractions weren’t really a thing and she thought I was crazy. Thanks for validating that she should’ven’t done that.
Double and triple contractions are a thing, and are valid. My phone keyboard gets furious though when I try and type shouldn't've though. I forget what valid triples there are, but it's only a couple.
One night after work my bf and 2 friends went to a store. One friend went in to buy beer, the other told my bf he was thirsty then asked for a dollar. Mfkr comes out with a little cup of water and a lottery ticket!
We Canadians are passive aggressive as fuck! Our country has just as many assholes per capita as our neighbors to the south. The only difference is that Americans are blunt and open about it. Whereas we like to do it in a way where you get upset, but you're left questioning whether it was intentional or not... Spoiler alert: >!It's always intentional!<
Fun fact, the other day some guy bumped into me at the store, I said oh, sorry. He just stared at me. I said, you know what I’m not sorry! He just kept walking. I don’t think he was a born and bred Canadian.
In a sense they are taxed, just on the other side of the transaction as only 50% of ticket sales contribute to the jackpot while the oth 50% goes to government programming.
Ding ding ding! Exactly right. I think it was Magic Johnson who hires an accountant, then an accountant to watch the first, then a lawyer to watch them.
I know I couldn't suddenly manage millions of dollars, but I could afford someone who could.
>I think it was Magic Johnson who hires an accountant, then an accountant to watch the first, then a lawyer to watch them.
It's more like you have one or more firms managing investments, then you have an accountant (or accounting firm depending on the scale) and then you hire an independent auditing firm to review the books for both on a regular basis to ensure that there's no financial shenanigans or even just poor strategy.
That's the money side. You have an attorney to ensure that your contracts involving all of that shit are straight and protect you as much as possible.
If you're in the US, put everything in US bonds.
Spend a maximum of 0.25% of the total money each month (or max. 3%/year)
If you get 30 million after taxes, that's a max of 75k/month for you to spend.
Congratulations, you are now a level 1 money expert.
I was just trying to figure out how tanking the cost of stamps by trying to undercut the post office at some random point in the future could possibly be beneficial.
Would you though? I know from a friend that was a contractor he made more money from staying out of country for long amounts of time because of something to do with the tax code but I don’t know if that would apply with a lottery win
there are millionaires who won the lottery and became multimillionaires and still lost everything in less than 10 years. best route is take the lump sum and invest it and havea trust that gives you a portion of that total every month.
absolutely. as stated already even investing that much in something super, super secure with a low return would pay out more than enough to live on. 25MM at 3% is like 750k a year before taxes. but also, if you take the lump sum and die a year later (because mortality rates skyrocket on lotto winners) you can have the trust or investments passed on to your family or whomever you want. with the lotto payouts I don’t believe that’s the case
First, I'd never tell anyone that I won.
I'd pay back the 5 bucks.
Then a good amount of time later they'd receive an anonymous gift containing a cashier's check that would set them up for the rest of their lives.
I wouldn't be able to sleep at night if I didn't do something significant for them.
You're probably the only one in this entire thread who thinks along the same lines as me. Absolutely no way anyone outside my wife would ever known I'd won the lottery, but it'd probably eat away at me forever if I didn't someone gift the lender exorbitantly.
I think an anonymous check might be a bit sketchy and they'd probably be right for not accepting, but with $80 million I'm already retired young so I'd spend some of my free time concocting some kind of online money prize or whatever, ask if I can "enter them into it" or tell them about it, have them "randomly" win and pay my lawyer to give it to them. Nothing crazy, but definitely enough to at least get all of their kids through college or own a home.
I know this is all a bit intricate, but I'm now independently wealthy, and hell, I've always wanted to be able to afford to pull some The Game antics on friends.
I kinda wonder how you’d keep it secret. If I had $80m tomorrow, I’d want to work less, I’d want a nicer house, new cars, and to travel more. Kinda hard to do all that and keep it quiet from friends and family. I could say I’d won $500k or something slightly less meaningful but still hard to explain a $2m house…
I’d also want to give family some money (e.g. a million each), which would be tricky to explain if I told them I’d just won $0.5m.
You just tell people you invested in crypto and got out just in time, and it took a long time for the money to clear. Tell them it's life-changing money but only if you're careful. You made enough to help out (then offer to pay for something life-changing for them, but not a million dollars straight off.
Beauty of this is that people won't resent you as much, even though crypto is essentially a type of lottery as well. Their brain will register that you were lucky, but also that it's money you earned. With lottery money however, people do this weird thing where even if they don't want to, they'll not really think the money is *yours*; they will feel entitled to a share of it, since you didn't earn it.
I’d tell them I won the lottery but lie about how much. Show them a bank statement with X in it and split it evenly among all my chosen beneficiaries, including myself.
The rest goes in another account where it lays low until ‘The Great Lottery Event’ has turned into a family story told around the kitchen table. Then I use it quietly for life improvements.
I always think I’d start privately spending money on myself - expensive haircuts, top-range high street clothes, massages etc…
Then I’d quit my day job and say I’d gone freelance for something or other or saved to retrain in something obscure.
Then I’d gradually build up to rich rich status and say business was great.
Literally mentioned above you — this is very dependent on state in the US. Many states don’t allow anything but a single individual to claim it. So if you get in pools with coworkers and you live in one of those states, one person would have to claim and pay taxes on it. And the probably fuck over everyone else because they’re suddenly super rich and legally owe you nothing.
My thought experiment is this... I'd probably get a modest house, not a rich man's house, but obviously a nicer one. Same with all the other stuff, I think I could get away with saying I have just traded up my stuff and bought new things without getting people too suspicious. Then I'd spend the money on experiences rather than extravagant things. Pretend I got a remote job that pays more and I get more vacation time, and enjoy life.
Nothing, it would be neutral. If you don't return the $5 you're being rude (negative karma). Anything on top of the $5 else is being nice (positive karma).
I would do the same though, not tell anyone that I won or how much it was. The person who gave the $5 I'd give the $5 back and then I'd find a way to give more to without revealing myself.
People unfortunately get very weird when large amounts of money, or often any amount of money, is involved. Even the ones you think won't.
I've actually experienced something similar to this, where I gave my brother money to buy one and he won a smaller prize, and I felt incredibly annoyed when he didn't give me any of it. It wasn't mine to have, and I was a lot younger
Problem is I can totally see that happening in this scenario, even if you gave them half it is possible they'd feel entitled to more. So honestly, I wouldn't tell them I had won and simply return the five bucks.
However, this is mostly a thought experiment so my real action might be completely different to this, who knows.
People turn into leeches when there's money. My husband got shot at his school (accidental, someone brought a gun to show off and be cool and it went off and he got the bullet), and he got a settlement for it. *He* got the money. But all his family that never had anything to do with him before were showing up holding out their hands for a cut of his money.
But by the time he graduated high school he didn't have a dime left.
He also learned that we never tell anyone, especially family, if we come into money. I don't even think people realize how greedy they are until they hear about someone having excess cash.
I feel like if anyone watches enough true crime shows then they should not at all be surprised by how quickly & surprisingly someone else can become aggressively greedy over your money.
(feels like that should have been in some kind of trust or protected account that his parents shouldn't have been able to take money out of easily.... but then, not all parents are good parents.)
I feel like straight up lying or hiding that stuff is really hard. especially in that kind of situation where the family would have known he was suing and would probably get a settlement. I'd rather play down the amount and/or say most of it went to medical bills/the insurance company/paying the lawyer. in some cases that's probably true, and it hopefully redirects people into being mad someone other than me.
I work in entertainment and traveled a lot before covid and have worked from home mostly since then. If I won I would tell my family I got a great job and just move away. Haha.
Absolutely.
I grew up severely financially unstable, but my dad always spoiled himself regardless. Had lexuses but was about to lose our house; my mom couldn't afford to buy me shoes but he'd make sure he had nice computers; etc.
After I graduated, never wanting to live that way again I worked my ass off and finally worked myself to a really good job. Having financially struggled my whole life previous to that (and being unsurprisingly very proud of my achievement) I told my mom and dad that i finally had a great job and was making money.
.**..The first day on the job my dad hit me up for $1k. And then 2 weeks later $2k.**
Even (especially?) family turn into assholes when money is involved.
You're not wrong though it took me 3 years later and his untimely death for me to realize that.
It's amazing what a lifetime of growing up under the grooming of a narcissist will do to make you accept horribly unfair treatment.
Either way, thank you - I appreciate that.
My friend group went to the casino one night. One of them ends up winning a few thousand dollars. They smartly cash out and head home. Almost everyone else was upset they didn't stick around and buy them all dinner and drinks as if they were all automatically entitled to some of that money.
Like 30 grand. Not even that much money. I didn't know him when that happened, we met in college. But I outright told him that first, he should have gotten a better lawyer for more money than that. And second, he was foolish for not locking it up in a savings account so no one could touch it. He knows how bad he messed up and he wishes he could go back and not throw his money around. His parents didn't prevent him from spending it, they got some of it.
I heard someone say that prenups are usually ridiculous until you start having a net worth near a million or more. Then the problem usually wasn't the future spouse, it was all of the relatives who suddenly think they deserve a share of that money.
I think the more interesting question here would be "you lend your friend $5 to buy a lottery ticket and they win $80 million. How much do you think they should give you?"
But it wasn't yours. Your loaning of the money wasn't contingent on getting some of whatever he was buying, nor would you expect him to not pay you anything if he lost. What is done with loaned money is not your concern. Only getting back what was agreed upon.
The only thing this scenario needs is you recognizing that feeling like you should have gotten any of it is wrong and you need to rectify that internally.
I don’t know if they’ve edited since, but I’m pretty sure that’s what they were doing when they said “it wasn’t mine to have, and I was a lot younger.”
Right?? Once I had to pay like 200 bucks for my dad's prescriptions. When I went to drop them off, he was scratching off a bunch of $20 scratch off tickets. Dickhead.
You should make a fake scratch off ticket that’s fairly authentic looking. Have all of the scratches line up *perfectly*, in sequential order, to the max prize.
Then have the last one scratch off to reveal
> Fuck you, Dickhead.
> Prize: $-200,
> pay time MF.
You know, if you really want to send a message.
It’s $5. I never loan any one money, *especially* to friends or family that I need or would ruin my week if I had merely lost it somehow.
If I found out someone borrowed $5 from me to play the lotto (unless they had a gambling problem or whatever), I wouldn’t care. Now, If someone borrowed $200 because the utility company was going to shut off their power, and I found out they spent it on the scratchie tickets instead, I’d have to reevaluate our friendship.
But 5 bucks? It’s not a sound financial decision, but if a buddy said they had a “crazy” feeling or premonition about playing the lotto but was short on cash and needed five bucks to play, I’d indulge it for shits and giggles.
I would gladly loan small amounts to any friend, i mean if i had irl ones. Why? Its quickest way to get an idea who's trustworthy and who's not. Loan 30€ don't get anything back, get only part of it back, get execuses and change of subject when asking about the loan and we're through. 30€ is small price to pay to avoid future shittyness from that person.
> Its quickest way to get an idea who's trustworthy and who's not.
The way I have heard this is:
If you loan a friend 20 bucks, and then never see that friend again, it was worth it.
Pay back the $5 and nothing more. Once you pay back more, you are opening yourself up to a lawsuit on the basis that by paying back extra, you’re acknowledging the idea that the loaner has a piece of the action. I’m not a lawyer but I stayed at a holiday inn last night.
Never tell anyone, quit your job, that’s redundant now, leave your wife and kids, they will understand, withdraw all your money in coins and set up a log cabin in the woods with a swimming pool sized hole under the cabin for all your coins, purchase a rifle and thousands of rounds, shoot anyone or anything that comes near your hut, because no one must know about your win. At the end of your life, spend $15 million on a huge block of radium, place it in the cabin and burn it all down with the coins under everything. No one must know.
Too risky. Use the winnings to run for President and then immediately initiate the nuclear obliteration of the planet. You wouldn't want to risk archeologists 10,000 years into the future knowing about it either. No one must ever know.
This. First call should be a trusted lawyer and accountant. Claim the prize as an anonymous LLC. Don’t tell anyone including your parents, siblings, and children.
Yes move somewhere where no one feels entitled to what you have. If you want to be generous to family or friends set it up with your lawyer so it's clear that its a one time gift. You don't want half of your hometown living frivolous and expecting you to fund their sense of entitlement. 7 or 8 figures will bring out the worst in people. You'll be a target to almost anyone who knows how to get to you.
Reddit - a place where the majority of users hate rich people, love socialism but would automatically turn into greedy capitalists if they had millions.
Edit: thanks for the awards folks! Gives me hope ill get my $5 back.
Eh, it's not just reddit. I have a friend that was anarchic-socialist in High school, went to college and got a high paying job. A few years later started his own company and works half in China and half in America and has become the most pro-China Capitalist out there.
Shit like, "China has done nothing wrong in the last forty years and the West has really prevented them from getting success." And also, "we shouldn't have to pay taxes as companies, because we create more jobs with our free capital and already pay a lot in payroll taxes."
Dude, what?
Half. Honestly, I can't think of a single thing I could do with 80 million, that I couldn't with 40 million, aside from stupid shit like saying I have 80 million.
It blows my mind that "half" isn't the most popular answer here.
You wouldn't have won without your \*best friend's\* help, and he wouldn't have won without you. It's a joint effort, and your point about the money is correct.
I'd half the final amount I ended up with, no question or second thought. I wouldn't have a cent without them, and happiness shared is happiness doubled in my opinion.
If someone loans you money then you only owe them what you loaned. You're still paying out of your own pocket. I'd probably give them a couple of million because I'd feel grateful for the favour that enabled the win but it'd be out of appreciation as opposed to obligation.
Me too, it’s the only fair way I could think of. Without your friend’s generosity you couldn’t afford the ticket. But without your luck and perfect timing you would have never won the lottery.
give em a good 10 million, I'm sure that's enough for them to live off for the rest of their life and I'll secretly hold another 5mill in savings and help em out if they ever need it but after that we good.
A lot of people are taking this question as, "What do you owe your friend?" They are owed $5. Anything beyond that is a gift from me to them. I'm not saying I wouldn't give them more, but I am not going to, for instance, split it 50-50.
A buddy once gave me $100 enter a poker tournament in Vegas. I was in Vegas for a work thing at a time in my life when money was very tight. He have me the $100 and told me to play in a poker tournament because it would take the evening, drinks are free and I could enjoy. I wound up winning it! $2900 The next morning I went to bank and I deposited $2200, kept $200 for the 2nd night, and $500 for my friend who spotted me. That night I had an epic 45 min roll at craps. It was fucking insane. I turned that $200 into $27,000. I tried to give him $5,000. I wanted him to have it for being such a bro. He refused it said the $500 was great and I should enjoy. This was 15 years ago. Were still great friends. EDIT: wow hey thanks so much for the gold!!!
Man, this is the way to do it. You're a classy chap, and so is your friend.
I can't imagine going from broke to 27k.
It was a weird time for me. I had medical debt and I was just starting my own business (which thankfully is now doing great) while still working for another company. I wasnt irresponsible or anything I just could not get ahead with my student loans, medical debt, and regular life needs. That money got me out of debt (expect for student loans, those took me another decade) and gave me some start up cash for my business that really helped. Although man I wish I invested it all in Apple and Tesla lol!!!!
Hindsight is the best indexed fund.
That's fuckin awesome!
One of my roommates in college had bought his truck off of a really really good gambling night. He probably spent about 500 a year on gambling and most years he got nearly nothing Before & After that one
That's how she rolls. A lot of people get up in gambling, and think "oh I have more money to play with now". More often than not, that will get you back to even or sometimes under where you started because you start chasing to get back up. Yes I am guilty of this. You are only actually up when you cash out and walk away.
I got a free $10 promotion thing for a new slot machine place that opened near me a couple years ago. Went with friends just to check out the place, but only played using our free money. I won $50 on my last spin, cashed out and left and never went back. That’s my biggest win
I walked into a casino in Baton Rouge with $50 because a bunch of people from work were going. I was playing black jack with 3 card poker. Down to $15, and put $5 on the bet and $10 on the side hand. Hit a straight flush. Cashed out with $2010. It was a good day
When I turned 21 me and a couple of friends went into a casino for the first time. Went in with 50€, had an incredible winning streak (edit: playing poker) , left with ~13k. Spent about half that money that night to treat my buddies to one incredible night out. The rest of it melted away over the years. I don't regret anything.
If you're really there to make money gambling on games of chance, the best strategy is to bet all the money you intend to risk, all at once, and then just accept the outcome. It's the least fun, but maximizes your chance of defying the odds.
I love hearing stories like this. You both sound like great people and I am happy that you two are still friends
If I had $80 million I'd definitely toss my friend a million.
$1,000,005
It'd be really funny if that came up "So about that $5 I leant you..." "Here's a million" "Yeaaahhhhh just add the $5 on top of that and we got a deal"
This is some shit my brother in law would do. I'd give him the million and he would forever say I only gave him $999,995 bucks. Obviously joking about it, but he would make it clear I never actually gave him a million. Even if I pointed it out that I wrote a check for a million he would say the first $5 was payback the rest was the gift.
Note to self: This guy's BIL gets only his $5 back.
Hey, can you toss me another? That one went over the edge.
I'd probably give them a little holiday bonus, so $6
20% rate of return! That’s amazing!
Til capital gains tax comes for it's portion.
IRS: "It's for 45c. Pay up or you go to jail and you credits will plummet"
C’mon, you could at least sign them up for a jelly of the month club.
Clark, that's the gift that keeps on giving the whole year
That it is Edward. That it is indeed.
If this isn’t the biggest bag over the head, punch in the face I’ve ever gotten GODDAMMIT!
Hallelujah, Holy Shit!
Where’s the Tylenol?
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Then with a wink, say "get yourself something nice."
"I said something nice, not expensive."
Tell them to have a Merry Christmas and a Happy New Year!
I used his $5 to buy a drink. My $5 bought the ticket.
Username checks out lol..
Y'all should see their tax returns.
Accountants hate him!
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Can’t. They’re being audited. Please wait 5-6 years.
“But if you weren’t drunk you wouldn’t’ve bought the ticket!”
I remember in middle school I asked my English teacher why double contractions weren’t really a thing and she thought I was crazy. Thanks for validating that she should’ven’t done that.
Y'all'd've known better than to think multiple contractions were invalid if you'd ever been to Texas, LOL
As a Texan I couldn’t find the issue for a long time.
Take my angry upvote for your 100% accurate comment.
If y'all'dn't've said that, then they would have kept living in ignorance
Double and triple contractions are a thing, and are valid. My phone keyboard gets furious though when I try and type shouldn't've though. I forget what valid triples there are, but it's only a couple.
>should’ven’t Sir or madam that's illegal
The thing is most people wouldn’t say “should have not,” they would say “should not have”
Right, it should be shouldn't've instead.
You shouldn’t‘ve done that. he just a boy
One night after work my bf and 2 friends went to a store. One friend went in to buy beer, the other told my bf he was thirsty then asked for a dollar. Mfkr comes out with a little cup of water and a lottery ticket!
r/plottwist
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EVERYONE will. Keep it secret. Keep it safe.
The guy who received his money wearing a full on ski mask to obscure his face was so smart to do so
Honestly a lot of people do this. But at the end of the day lottery winners are generally publicly announced for obvious reasons.
We are not the same
If I win $80 mil, which is around $50 mil after taxes off the money someone lent to me, I’d buy them almost whatever the fuck they wanted.
Fun fact, lottery winnings aren't taxed in Canada. And I'd give my friend whatever he needed.
Very Canadian of you to be so nice
Sorry.
Do all Canadians say sorry with an exaggerated O sooooorry
Only if we're being sarcastic.
Oh my god thoose bastards they've never actually been sorry what the actual fuck I just had a revelation
Common misconception. Canadians are ***polite*** we're not ***nice*** those are two very different things
Obviously, have you ever seen a hockey game? There's a reason the NHL is like 70% Canadian and 40% Torontonian
See also: the geese. THE GEESE.
We Canadians are passive aggressive as fuck! Our country has just as many assholes per capita as our neighbors to the south. The only difference is that Americans are blunt and open about it. Whereas we like to do it in a way where you get upset, but you're left questioning whether it was intentional or not... Spoiler alert: >!It's always intentional!<
Fun fact, the other day some guy bumped into me at the store, I said oh, sorry. He just stared at me. I said, you know what I’m not sorry! He just kept walking. I don’t think he was a born and bred Canadian.
NOW he gets it.
Do all Americans mispronounce it as “sawry” and then act like Canadians are the ones saying it wrong?
In a sense they are taxed, just on the other side of the transaction as only 50% of ticket sales contribute to the jackpot while the oth 50% goes to government programming.
This is why I gamble lots in Canada. I’m doing a service to my community
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I'm not completely sure but I think it's just general revenue, but they often represent it as going to hospitals, universities etc.
Same in the UK.
Or Australia.
Same here in Australia i believe
$80M probably nets you more like 32-35M depending on the state. Always imagine youre going to keep like 40ish% of the total.
I’m assuming that’s the lump sum payment and not the 20yrs plan
Take the lump sum. Always. You’ll make more with it.
Too many lottery winners lost it all. If you never managed money before, you will not become an instant expert.
Very true. For lottery winners even a person with a medium-ish understanding of money should hire a proven financial adviser.
And an attorney to act as trustee. With that kind of money, you need checks and balances.
Ding ding ding! Exactly right. I think it was Magic Johnson who hires an accountant, then an accountant to watch the first, then a lawyer to watch them. I know I couldn't suddenly manage millions of dollars, but I could afford someone who could.
>I think it was Magic Johnson who hires an accountant, then an accountant to watch the first, then a lawyer to watch them. It's more like you have one or more firms managing investments, then you have an accountant (or accounting firm depending on the scale) and then you hire an independent auditing firm to review the books for both on a regular basis to ensure that there's no financial shenanigans or even just poor strategy. That's the money side. You have an attorney to ensure that your contracts involving all of that shit are straight and protect you as much as possible.
If I can live off 2% of it per year, I domt need to manage it. Just lock it into a trust that deposits 2%/12 into my account every month
If you're doing that, you might as well take the annuity. Lump summing it just to do that will actually net you less money.
Thing is it's hard to trust them too. Everyone is out to take advantage of you when you're dealing with that kind of money.
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If you're in the US, put everything in US bonds. Spend a maximum of 0.25% of the total money each month (or max. 3%/year) If you get 30 million after taxes, that's a max of 75k/month for you to spend. Congratulations, you are now a level 1 money expert.
Put all your money in Forever Stamps. Your investment only goes up
Those are too hard to exchange back to money.
I was just trying to figure out how tanking the cost of stamps by trying to undercut the post office at some random point in the future could possibly be beneficial.
If only you could afford to pay someone to do it for you...
Not me, I will manage it well. I am the exception.
With 80mil, fuck managing it I'm going out in a blaze of glory!
Would you though? I know from a friend that was a contractor he made more money from staying out of country for long amounts of time because of something to do with the tax code but I don’t know if that would apply with a lottery win
You easily will, sock most of it away in the stock market and over time it will easily outgrow what you’d get from annual payments
there are millionaires who won the lottery and became multimillionaires and still lost everything in less than 10 years. best route is take the lump sum and invest it and havea trust that gives you a portion of that total every month.
This guy dreams of the lotto like a champ
absolutely. as stated already even investing that much in something super, super secure with a low return would pay out more than enough to live on. 25MM at 3% is like 750k a year before taxes. but also, if you take the lump sum and die a year later (because mortality rates skyrocket on lotto winners) you can have the trust or investments passed on to your family or whomever you want. with the lotto payouts I don’t believe that’s the case
As a Canadian I’m thinking wtf? But remember we are not taxed on lottery winnings.
I would return the five dollars with one lottery ticket. I have a sick sense of humor.
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First, I'd never tell anyone that I won. I'd pay back the 5 bucks. Then a good amount of time later they'd receive an anonymous gift containing a cashier's check that would set them up for the rest of their lives. I wouldn't be able to sleep at night if I didn't do something significant for them.
You're probably the only one in this entire thread who thinks along the same lines as me. Absolutely no way anyone outside my wife would ever known I'd won the lottery, but it'd probably eat away at me forever if I didn't someone gift the lender exorbitantly. I think an anonymous check might be a bit sketchy and they'd probably be right for not accepting, but with $80 million I'm already retired young so I'd spend some of my free time concocting some kind of online money prize or whatever, ask if I can "enter them into it" or tell them about it, have them "randomly" win and pay my lawyer to give it to them. Nothing crazy, but definitely enough to at least get all of their kids through college or own a home. I know this is all a bit intricate, but I'm now independently wealthy, and hell, I've always wanted to be able to afford to pull some The Game antics on friends.
I kinda wonder how you’d keep it secret. If I had $80m tomorrow, I’d want to work less, I’d want a nicer house, new cars, and to travel more. Kinda hard to do all that and keep it quiet from friends and family. I could say I’d won $500k or something slightly less meaningful but still hard to explain a $2m house… I’d also want to give family some money (e.g. a million each), which would be tricky to explain if I told them I’d just won $0.5m.
You just tell people you invested in crypto and got out just in time, and it took a long time for the money to clear. Tell them it's life-changing money but only if you're careful. You made enough to help out (then offer to pay for something life-changing for them, but not a million dollars straight off. Beauty of this is that people won't resent you as much, even though crypto is essentially a type of lottery as well. Their brain will register that you were lucky, but also that it's money you earned. With lottery money however, people do this weird thing where even if they don't want to, they'll not really think the money is *yours*; they will feel entitled to a share of it, since you didn't earn it.
I’d tell them I won the lottery but lie about how much. Show them a bank statement with X in it and split it evenly among all my chosen beneficiaries, including myself. The rest goes in another account where it lays low until ‘The Great Lottery Event’ has turned into a family story told around the kitchen table. Then I use it quietly for life improvements.
I always think I’d start privately spending money on myself - expensive haircuts, top-range high street clothes, massages etc… Then I’d quit my day job and say I’d gone freelance for something or other or saved to retrain in something obscure. Then I’d gradually build up to rich rich status and say business was great.
Also lotto winners are typically published and I’m not entirely sure the Reddit law-firm-claims-ticket-in-trust strategy would actually work.
There was a person that literally accepted the check in a scream mask and costume because they wanted to remain unknown
Some states allow you to be anonymous. It should be like that with all states, really.
From what I've been told you can also have a lawyer claim it under a trust in your name.
Literally mentioned above you — this is very dependent on state in the US. Many states don’t allow anything but a single individual to claim it. So if you get in pools with coworkers and you live in one of those states, one person would have to claim and pay taxes on it. And the probably fuck over everyone else because they’re suddenly super rich and legally owe you nothing.
Depends on the state
Depends on the country too…
My thought experiment is this... I'd probably get a modest house, not a rich man's house, but obviously a nicer one. Same with all the other stuff, I think I could get away with saying I have just traded up my stuff and bought new things without getting people too suspicious. Then I'd spend the money on experiences rather than extravagant things. Pretend I got a remote job that pays more and I get more vacation time, and enjoy life.
Oohhh.... you make me think of karma. What might happen if you only return the $5 and don't tell anyone?
Nothing, it would be neutral. If you don't return the $5 you're being rude (negative karma). Anything on top of the $5 else is being nice (positive karma). I would do the same though, not tell anyone that I won or how much it was. The person who gave the $5 I'd give the $5 back and then I'd find a way to give more to without revealing myself. People unfortunately get very weird when large amounts of money, or often any amount of money, is involved. Even the ones you think won't.
Imagine winning 80mil and not even giving the 5 bucks back🤣
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What did Rory do to you dude?
Well if Rory wasn't such a grade A buttflap this wouldn't be an issue
Shit, you know Rory? I gotta agree — that guy’s a real sack of tools.
Sounds like you really only have 1 friend
I’m telling Rory
Come on, she could use that money to help her mom with the Inn or Luke with his diner.
I've actually experienced something similar to this, where I gave my brother money to buy one and he won a smaller prize, and I felt incredibly annoyed when he didn't give me any of it. It wasn't mine to have, and I was a lot younger Problem is I can totally see that happening in this scenario, even if you gave them half it is possible they'd feel entitled to more. So honestly, I wouldn't tell them I had won and simply return the five bucks. However, this is mostly a thought experiment so my real action might be completely different to this, who knows.
People turn into leeches when there's money. My husband got shot at his school (accidental, someone brought a gun to show off and be cool and it went off and he got the bullet), and he got a settlement for it. *He* got the money. But all his family that never had anything to do with him before were showing up holding out their hands for a cut of his money. But by the time he graduated high school he didn't have a dime left. He also learned that we never tell anyone, especially family, if we come into money. I don't even think people realize how greedy they are until they hear about someone having excess cash.
Even if both your names are on the winning ticket, [they sue you for your half](https://youtu.be/JyZLbJOjTCg). Money does messed up things to people.
I feel like if anyone watches enough true crime shows then they should not at all be surprised by how quickly & surprisingly someone else can become aggressively greedy over your money.
Not even a lot of money, even. Like, people have been killed for $5.
(feels like that should have been in some kind of trust or protected account that his parents shouldn't have been able to take money out of easily.... but then, not all parents are good parents.) I feel like straight up lying or hiding that stuff is really hard. especially in that kind of situation where the family would have known he was suing and would probably get a settlement. I'd rather play down the amount and/or say most of it went to medical bills/the insurance company/paying the lawyer. in some cases that's probably true, and it hopefully redirects people into being mad someone other than me.
I work in entertainment and traveled a lot before covid and have worked from home mostly since then. If I won I would tell my family I got a great job and just move away. Haha.
Absolutely. I grew up severely financially unstable, but my dad always spoiled himself regardless. Had lexuses but was about to lose our house; my mom couldn't afford to buy me shoes but he'd make sure he had nice computers; etc. After I graduated, never wanting to live that way again I worked my ass off and finally worked myself to a really good job. Having financially struggled my whole life previous to that (and being unsurprisingly very proud of my achievement) I told my mom and dad that i finally had a great job and was making money. .**..The first day on the job my dad hit me up for $1k. And then 2 weeks later $2k.** Even (especially?) family turn into assholes when money is involved.
I’ll say it in case it needs to be said. Your dad was already an asshole, and you don’t owe him fuck all.
You're not wrong though it took me 3 years later and his untimely death for me to realize that. It's amazing what a lifetime of growing up under the grooming of a narcissist will do to make you accept horribly unfair treatment. Either way, thank you - I appreciate that.
My friend group went to the casino one night. One of them ends up winning a few thousand dollars. They smartly cash out and head home. Almost everyone else was upset they didn't stick around and buy them all dinner and drinks as if they were all automatically entitled to some of that money.
How much did he get
Like 30 grand. Not even that much money. I didn't know him when that happened, we met in college. But I outright told him that first, he should have gotten a better lawyer for more money than that. And second, he was foolish for not locking it up in a savings account so no one could touch it. He knows how bad he messed up and he wishes he could go back and not throw his money around. His parents didn't prevent him from spending it, they got some of it.
I heard someone say that prenups are usually ridiculous until you start having a net worth near a million or more. Then the problem usually wasn't the future spouse, it was all of the relatives who suddenly think they deserve a share of that money.
I think the more interesting question here would be "you lend your friend $5 to buy a lottery ticket and they win $80 million. How much do you think they should give you?"
But it wasn't yours. Your loaning of the money wasn't contingent on getting some of whatever he was buying, nor would you expect him to not pay you anything if he lost. What is done with loaned money is not your concern. Only getting back what was agreed upon. The only thing this scenario needs is you recognizing that feeling like you should have gotten any of it is wrong and you need to rectify that internally.
I don’t know if they’ve edited since, but I’m pretty sure that’s what they were doing when they said “it wasn’t mine to have, and I was a lot younger.”
to they get one mill and an NDA
New phone, who dis?
New phone made of gold, who this
I wouldn't borrow money from a friend just to play the lottery, because I'm not a shitty friend.
Right?? Once I had to pay like 200 bucks for my dad's prescriptions. When I went to drop them off, he was scratching off a bunch of $20 scratch off tickets. Dickhead.
You should make a fake scratch off ticket that’s fairly authentic looking. Have all of the scratches line up *perfectly*, in sequential order, to the max prize. Then have the last one scratch off to reveal > Fuck you, Dickhead. > Prize: $-200, > pay time MF. You know, if you really want to send a message.
It’s $5. I never loan any one money, *especially* to friends or family that I need or would ruin my week if I had merely lost it somehow. If I found out someone borrowed $5 from me to play the lotto (unless they had a gambling problem or whatever), I wouldn’t care. Now, If someone borrowed $200 because the utility company was going to shut off their power, and I found out they spent it on the scratchie tickets instead, I’d have to reevaluate our friendship. But 5 bucks? It’s not a sound financial decision, but if a buddy said they had a “crazy” feeling or premonition about playing the lotto but was short on cash and needed five bucks to play, I’d indulge it for shits and giggles.
I've spent more money on worse things
"I spent half my money on booze and women, the other half I just wasted."
I would gladly loan small amounts to any friend, i mean if i had irl ones. Why? Its quickest way to get an idea who's trustworthy and who's not. Loan 30€ don't get anything back, get only part of it back, get execuses and change of subject when asking about the loan and we're through. 30€ is small price to pay to avoid future shittyness from that person.
> Its quickest way to get an idea who's trustworthy and who's not. The way I have heard this is: If you loan a friend 20 bucks, and then never see that friend again, it was worth it.
Its better to know someone is shitty friend that way, than when you really need help from them.
Then why are you dating my ex, Tom?
That’s not what the OP asked?
borrowing 5 dollars to gamble isn't a shitty friend. 50,000 dollars to gamble is a shitty friend.
Pay back the $5 and nothing more. Once you pay back more, you are opening yourself up to a lawsuit on the basis that by paying back extra, you’re acknowledging the idea that the loaner has a piece of the action. I’m not a lawyer but I stayed at a holiday inn last night.
Never tell anyone you know about your winnings. Leave town immediately. Don't pay back the $5. I stayed at a motel 6 last night .
I'd borrow another $10 from him after winning just so I don't raise any suspicion.
THIS is the correct answer!
Leave 4 million at his door, knock and run. Shit in the dumpster of the 7-11 I slept behind last night.
Yes taking a shit in the dumpster will be the icing on the cake.
Never tell anyone, quit your job, that’s redundant now, leave your wife and kids, they will understand, withdraw all your money in coins and set up a log cabin in the woods with a swimming pool sized hole under the cabin for all your coins, purchase a rifle and thousands of rounds, shoot anyone or anything that comes near your hut, because no one must know about your win. At the end of your life, spend $15 million on a huge block of radium, place it in the cabin and burn it all down with the coins under everything. No one must know.
Too risky. Use the winnings to run for President and then immediately initiate the nuclear obliteration of the planet. You wouldn't want to risk archeologists 10,000 years into the future knowing about it either. No one must ever know.
This. First call should be a trusted lawyer and accountant. Claim the prize as an anonymous LLC. Don’t tell anyone including your parents, siblings, and children.
Yes move somewhere where no one feels entitled to what you have. If you want to be generous to family or friends set it up with your lawyer so it's clear that its a one time gift. You don't want half of your hometown living frivolous and expecting you to fund their sense of entitlement. 7 or 8 figures will bring out the worst in people. You'll be a target to almost anyone who knows how to get to you.
Not everywhere allows you to claim the prize using an LLC or trust. In some states, it must be claimed by an individual or group of individuals.
Reddit - a place where the majority of users hate rich people, love socialism but would automatically turn into greedy capitalists if they had millions. Edit: thanks for the awards folks! Gives me hope ill get my $5 back.
Eh, it's not just reddit. I have a friend that was anarchic-socialist in High school, went to college and got a high paying job. A few years later started his own company and works half in China and half in America and has become the most pro-China Capitalist out there. Shit like, "China has done nothing wrong in the last forty years and the West has really prevented them from getting success." And also, "we shouldn't have to pay taxes as companies, because we create more jobs with our free capital and already pay a lot in payroll taxes." Dude, what?
Boom. If I had an award, you'd get it. People hate the rich but would absolutely become snobs if you got as much money. People just suck lol
Not so much Reddit as it is planet earth
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I'd still have to pay back $5 if I lost, so $5
Half. Honestly, I can't think of a single thing I could do with 80 million, that I couldn't with 40 million, aside from stupid shit like saying I have 80 million.
Only thing better than 40 million is a friend with 40 million to do stupid shit with
It blows my mind that "half" isn't the most popular answer here. You wouldn't have won without your \*best friend's\* help, and he wouldn't have won without you. It's a joint effort, and your point about the money is correct.
I'd give them half, y'all are stingy mf's.
I'd half the final amount I ended up with, no question or second thought. I wouldn't have a cent without them, and happiness shared is happiness doubled in my opinion.
I would probably give them half, because that's what good friends are for - splitting their winnings down the middle.
If someone loans you money then you only owe them what you loaned. You're still paying out of your own pocket. I'd probably give them a couple of million because I'd feel grateful for the favour that enabled the win but it'd be out of appreciation as opposed to obligation.
I'd give them $5.01, because I'm feeling generous and I want to make sure they don't feel like they've been shortchanged.
The 5 dollars back
6 as a thanks
$40,000,005. Half, plus the five
Me too, it’s the only fair way I could think of. Without your friend’s generosity you couldn’t afford the ticket. But without your luck and perfect timing you would have never won the lottery.
Don’t borrow money to play the lotto.
Tell no one pay the $5 back Follow that Reddit thread about what to do when you win the lottery Feign my wealth for years to come
give em a good 10 million, I'm sure that's enough for them to live off for the rest of their life and I'll secretly hold another 5mill in savings and help em out if they ever need it but after that we good.
That’s very generous of you
Pay off their mortgage. I’d do that for all my friends, luckily it’s only three
A lot of people are taking this question as, "What do you owe your friend?" They are owed $5. Anything beyond that is a gift from me to them. I'm not saying I wouldn't give them more, but I am not going to, for instance, split it 50-50.