If you won Powerball...

boiler_eng

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Playing it safe on bank interest alone your going to earn less than 1 percent a year......so let's say your getting 900k a year in interest......of which you'll be paying income taxes on of course. I could live a hell of a nice amazing life on that and never touch the principal. My point is......taxes alone on multiple properties.....main house.....vacation house etc.......could easily run 50k or more a year. People that aren't used to dealing with large windfalls can easily get trapped into spending down the principal of 100 mil if they don't plan to budget on spending the interest only. Thats how most of the big lottery winners end up broke inside of 10 years.

Probably a mix of not knowing how to budget, not knowing how to regulate their consumption, and not knowing how to deal with people actively trying to get money from them.

Everyone loves the guy who covers the tab, throws parties, and showers them with gifts. If you buy a super car, then your 'buddy' crashes it while high at your party, then you buy another along with paying off said buddy because he is threatening to come after you for putting him behind the wheel that can start to add up.

If you have the mental fortitude to treat a $100 million win like a $5 million win and tell noone then chances are you can set up things to have the money outlast you.
 

Nico9283

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Lot of guys in here that don’t have enough taste to be responsible with 500 million dollars lol. If you couldn’t afford a Glock before hitting it that big, you probably wouldn’t spend any of it correctly. “How the glocks would look in the ‘safe’??? Dude you could have a nuclear bomb proof vaulted-door, climate controlled, armory built under ground in the basement of your new 10 million dollar fortress home on 100 acres of land in a free state and still have 485.8 million left (not accounting for taxes)
 

rudiewhitebwoy

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