What to do with Powerball money?

**KentDog** · 01-20-2007, 02:19 PM

The Powerball jackpot is up to $205 Million for tonight's drawing ($98.3 million cash value). The most common question is what would you do if you had won the jackpot? However, none of us have a chance at winning the jackpot, and slim chances at the runner up prize of $200,000. BUT, the chances at $200,000 are far greater than the jackpot. So what would you do with the $200,000 runner up prize? Be as specific as possible.

Not to intentionally sound boring, but I probably wouldn't do anything with it. I would pay off my credit card debt (which is currently sitting in a 0% interest rate account anyhow), then figure the best way to invest the rest; I wouldn't just let it sit in the bank. Got any ideas for ways to invest? I'd want something reasonably safe yet not very very low-yield. I'd also get a haircut at Great Clips ($6.99 sale going on right now) because I kind of need one.. was going to put it off for another two weeks to time it for Valentine's. Probably would eat a bit better as well.

**Triple Threat** · 01-20-2007, 02:29 PM

$200,000? House improvements, vacation and the remainder into kids' college fund.

**bigss75** · 01-20-2007, 03:01 PM

Pay off school loans

**P-funk** · 01-20-2007, 03:04 PM

Buy a house. Nothing to fancy. stuff the rest in the savings account and live comfortably for the rest of my life. Probably just go back to work and do what I do.

**squanto** · 01-20-2007, 03:15 PM

Originally Posted by P-funk

Buy a house. Nothing to fancy. stuff the rest in the savings account and live comfortably for the rest of my life. Probably just go back to work and do what I do.

With 200 grand???

Do you live in a third world country?

**P-funk** · 01-20-2007, 03:29 PM

Originally Posted by squanto

With 200 grand???

Do you live in a third world country?

oh, lol....I was looking at the jack pot of $205 million.

**squanto** · 01-20-2007, 03:41 PM

Oh. If I had 200 million i'd buy 5 million puppies and fill a house with them. Then I'd set the house on fire with me inside.

The rest of the money would pay for an elaborate funeral.

**bigss75** · 01-20-2007, 04:03 PM

Originally Posted by squanto

Oh. If I had 200 million i'd buy 5 million puppies and fill a house with them. Then I'd set the house on fire with me inside.

The rest of the money would pay for an elaborate funeral.

You might be the only person in the world who would kill themselves if they won 200 million dollars

**DOMS** · 01-20-2007, 04:05 PM

Isn't it called prostitution when you get money from your "power balls"?

**fufu** · 01-20-2007, 05:04 PM

Originally Posted by squanto

Oh. If I had 200 million i'd buy 5 million puppies and fill a house with them. Then I'd set the house on fire with me inside.

The rest of the money would pay for an elaborate funeral.

**viet_jon** · 01-20-2007, 05:08 PM

with 200 mill, I'd give alot of it away.

After a few million, I don't see how it can make your life any better.

**Yanick** · 01-20-2007, 05:26 PM

lol i love how no one paid any attention to what the question was.

with 200k, i'd give my parents half to help them pay off the house, give my bro 50k and with the other 50k i'd buy and decent car and save the rest.

200mil i would pay off my parents' house, buy them one in Russia so they could visit and another in Florida for retirement. i would then financially help out all those close to me, and put most of it away for interest and live a care free lifestyle.

**I Are Baboon** · 01-20-2007, 05:42 PM

Originally Posted by Yanick

lol i love how no one paid any attention to what the question was.

No shit.

I'd pay off our credit cards and car balances, then take a first class vacation to Hawaii. The rest will get socked away for a rainy day. Of course, you're looking at about $100k after taxes.

**KentDog** · 01-20-2007, 06:00 PM

Originally Posted by Yanick

lol i love how no one paid any attention to what the question was.

with 200k, i'd give my parents half to help them pay off the house, give my bro 50k and with the other 50k i'd buy and decent car and save the rest.

200mil i would pay off my parents' house, buy them one in Russia so they could visit and another in Florida for retirement. i would then financially help out all those close to me, and put most of it away for interest and live a care free lifestyle.

.

I'd love to become a homeowner, and $200k could get me a great place.. I'd most likely save the money, but if a great deal came along to own some great property wherever I may be moving after I graduate, I may very well take it.

**Yanick** · 01-20-2007, 07:49 PM

Originally Posted by KentDog

.

I'd love to become a homeowner, and $200k could get me a great place.. I'd most likely save the money, but if a great deal came along to own some great property wherever I may be moving after I graduate, I may very well take it.

200k in NYC will barely cover the down payment and the various fees and closing costs. as well the "house" will have no front/backyard, half a garage, 1/3 of a driveway and will be attached on both sides.

**Bakerboy** · 01-20-2007, 08:06 PM

I'm Canadian- we don't have power ball, I don't qualify.

**Pianomahnn** · 01-20-2007, 08:36 PM

I'd quit my job and go back to school. Take time to really figure out what I want in life.

**goandykid** · 01-20-2007, 08:49 PM

Buy an M6, save the rest between me and my family. Oh, and a trip to Mortons. And season tickets to the skins and wizards.

**ABCs** · 01-20-2007, 09:17 PM

Open a professional recording studio, buy a house for my parents and myself, get an Enzo and travel around the world for a few weeks then just come home and enjoy my studio.

**goandykid** · 01-20-2007, 10:27 PM

Enzo's are 600k

**the nut** · 01-21-2007, 04:24 AM

Open a titty bar.

**Pianomahnn** · 01-21-2007, 08:10 AM

Originally Posted by goandykid

Enzo's are 600k

Not to mention two houses as well...

**clemson357** · 01-21-2007, 08:15 AM

I would pay off my student loans, buy a 2007 Harley Davidson Sportster 1200c, put a large down payment on a house, and put the rest in a retirement fund.

**tucker01** · 01-21-2007, 08:16 AM

it would all go to my mortgage. Ah Maybe one day I could be mortgage free.

**bigss75** · 01-21-2007, 08:25 AM

I didnt win

**Prince** · 01-21-2007, 10:09 AM

if you won was $200k you would only clear about $124k, taxes suck.

with $124k I would pay off my wife's car and put the rest in the bank as I need to do some home improvements this spring, i.e. painting the outside of the house, I would also have our kitchen remodeled.

so after all of that I would have about $90k left, it would go into my brokerage account until I was ready to refinance my house again then I would use most of it towards that.

**ABCs** · 01-21-2007, 10:37 AM

Ohh, the prize is only 200k? In that case, I would invest it and turn it into alot more.

**Pianomahnn** · 01-21-2007, 11:20 AM

Unless you invested poorly...which has happened to even the best investors at some point.

**ABCs** · 01-21-2007, 12:11 PM

Originally Posted by Pianomahnn

Unless you invested poorly...which has happened to even the best investors at some point.

Long term investments are safe and considering three of my immediate family members all work in banks, investing is pretty easy.

**maniclion** · 01-22-2007, 03:17 AM

$200,000 wouldn't do shit for me in Hawaii, it's fucking expensive living here....I'd probably redecorate my house, put a solar electric system in and then use the money I save from not paying electric bills to by stocks in Hoku Scientific....

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