You claim your winnings to a trust to avoid your name being announced. If you win you don't run to the lottery office, you run to an attorney and accountant.

If you go to the lottery office the fine print states they will use your name and your image so a trust is the only way to avoid it. The other advantage with a trust, you can name who is aloud access to it.

Now think about the fact that you have better odds of getting struck by lightening not one, not two but three times in your life. The national weather service puts the odds of being struck once and 1 million to one. Puts that 1 in 176 million chance in perspective. Your name is on one ticket in a barrel with a total of 176,000,000 tickets chances are you are going to reach in and grab any one of the other 175,999,999 tickets surrounding it.

But what's life without a dream?

If I won I would call my boss and tell him I wasn't coming in to work because I had a bad case of "Anal Glaucoma." Basically I couldn't see my @$$ working for him no more!!!

BrownsBacker,

I concur with your answer and add to it - since this is 'public' money that's used, most, if not all, states administer the Lottery with a state agency. As such, the winner's name is releasable to any/all, depending on the individual state's Freedome of Information Act. You can ask for way of staying anonymous but even if they don't announce it publicly, it can be requested by the public. Your suggestion of a trust is excellent. Also, one of the things I have read is that, depending on the size of the winnings, sometimes it's actually advisable to take it in the yearly payout instead of 1 lump sum.

476 MILION...

I'd pass out checks to my office co-workers and tell them each to take a month off.

Great points. If I win, I'll remember them. Then I would set my immediate family up with nice houses. Set up trust funds for the kids with finite payout requirements. Is there a way to set it up so that if they are married, their spouses get none of it?
Then I would set up a foundation to donate tons of money to various charities. Hire someone to run it. Hire a teacher to come with me and my family around the world. I want to see some stuff. We'd need a bodyguard of some sort as well.
So there. I may quit my job, but they can find someone else that can do that. Plus the three or four new jobs I just created and the money going to help others.
That's if I won the massive jackpot. One million dollars? Invest. Live of the interest. Probably still keep my job. I like it. And it would be easier to deal with the idiots if at the end of the day I'm set in retirement.

I think the interviewer who would ask such a question lacks foresight . They are putting the question out from the direction of a windfalls affect on one employee . I would think they would have more concern for the company as a whole .

Imagine a life in your daily job as a multi-millionaire . The resentment and jealousy of co-workers . The constant sob stories and resulting requests of " loans " The bitterness . What would this do to the overall running of the company ? Unless you were willing to keep your winnings an absolute secret .

One thing to consider is that on Federal taxes a trust pays higher taxes than an individual. An individual would pay 25% for Federal taxes (plus whatever if any state or city taxes), but a trust would pay possibly 35% for Federal taxes.

Why not just become a "corporation" ? The amount you pay in taxes would drop dramatically. Start a small business and use that. Check with a lawyer and get it all set up.

Put some of it in a bank in the Cayman Islands. Isn't that what millionaires do ???

I want to know who the 2866 liars are.

If I win, many of these people, who made this possible, will get the help they deserve:

http://www.msnbc.msn.com/id/46887545/ns/news-picture_stories/displaymode/1247/?beginSlide=1#.T3R1qtXq6f4

Why is anyone afraid to show their face if they won the millions? Most people are proud to show off their millions, however they got it, look at Trump. I would love to be seen helping others with the millions that I won and yes, I would quit my job. The real question should be, would the business owner quit his business if he won the $500 million?

Here is how it would go:

Oh no Mr interviewer,

Out of all the hundreds of millions of low paying dead end jobs I would stick around and stay working here for half what I'm worth out of the goodness of my heart. I would continue to take abuse, continue to put your profits ahead of my health, continue to distance my wife and kids so that your managers can dine on caviar and cognac.

Pray tell, what would YOU do if you won?

I'd quit my job in a heartbeat, but that's so I can put the money to work doing more meaningful things.

No sense sticking around for a daily grind when you can, say, take up investing and get meaningful ownership of prime companies to have some influence over their decision making process. (Dividend payouts are a nice plus.)

Granted, I wouldn't want to flaunt my wealth. That just attracts hucksters and fraudsters galore and by investing my money I can legitimately tell people that I'm an investor/day-trader/venture capitalist if they ask me what I do for work.

Why even quit work? That would actually take a phone call or perhaps a drive into work. I just wouldn't show up for work again. Leave them wondering WTF happened to Carlof??

Tontosh:

Because people tend to associate most with those in similar financial situations to their own. Chronically wealthy people hang around with other chronically wealthy persons, and use money/assets as a sort of competition. Those are the rich people who like to show off their money.

Those who suddenly receive a windfall are associated with middle-income persons, all with the same "it-would-be-nice-but-would-never-happen-to-me" mindset toward winning. Once money is obtained, and once all the "friends" find out, the "su dinero es MI dinero" attitude kicks in. Suddenly all friends and acquaintances become accountants, financial advisors, lawyers...or just plain needy! A "friend" may come over to newly-rich person's house and "oops, I got hurt, I need to be compensated..." Unknown/non-existant favors are expected to be returned. In short, a the person's whole identity has changed, along with his/her relationship with friends/family/acquaintances. If newly rich person wants to maintain his/her long-term personal and professional relationships, anonymity is key. That is why I would stop working, should I ever fall into a large sum of money, and it be discovered.

My answer to a prospective employer, if questioned? Simple - "Well sir/ma'am, I would have to buy a ticket in order to win, wouldn't I?" (Implying that I am not in the habit of playing the lottery, whether I am or not). Or if you cannot bluff that: "I would look into starting up my own business, especially if leaving my position at work or not accepting your offer allows another person desparately needing income to find stable employement." Honesty and altruism, how could they not love it..?

I'd answer... 'Yes I would quit, but not after sharing it with some of my co-workers'.

Problem solved...

I'd answer... 'Yes I would quit, but not after sharing it with some of my co-workers'.

Problem solved...

Unless the interviewers remember that and sue you if you don't share the wealth like you said you would. (It's happened.)

I'd pay of all of my friends houses off and put a new car in their garage. If they didn't have one I'd buy them one.

Why is anyone afraid to show their face if they won the millions?

Because they don't want all of the 'long-lost-relatives' showing up and everyone with a sob story and hand held out demanding money.

That much, I'd have no problem sharing with family (that I actually know!) and close friends. But I don't want or need the attempts to guilt me out of anything.

I'd love to win enough for a very comfortable retirement!

Actually HAVING money is much different that IMAGINING having money. I have seen many families say they would never get into arguments over money (such as an inheritance), but as soon as daddy dies and the money is really there, the family is torn apart (happened in my wife's own family).

Of the 90% who say they would not quit their jobs, at least 90% of them WOULD quit their jobs. Again, having it is different than thinking about having it, and the realization that you don't HAVE to get up and go to work is too strong for most people to resist.

I can be honest and say I WOULD quit my job, and would spend the rest of my life figuring out how to make the biggest impact on the most people with the winnings. I would love to be able to do things like pay off the mortgage of people I know who are struggling, set young families up with a new car, or buy a wheelchair van for the kid whose family doesn't have the money. I already have way more toys than I need, so the fun for me would be impacting others (but mainly those who would not expect it). Too many lottery winners use the money as a shrine to their own excesses, as if they actually did something to earn it.

But alas, I guess it will never happen since I've never bought a lottery ticket... Oh well. I can dream!

If I won I'd buy the company and then let dude interview for his job back. First question would be - "What would you do if one of your underlings suddenly became your boss?"

Again, having it is different than thinking about having it, and the realization that you don't HAVE to get up and go to work is too strong for most people to resist.

Well, remove the money aspect... You are basically coercing people to get up and do things that affect their health and happiness for months or years at a time, unless the employer was flexible enough to make health and happiness a concern before then most likely once forced poverty was removed anyone with normal priorities would bail. It is no coincidence that the most productive nation on earth is also the fattest, gets the least sleep, least vacation, and highest jail rates. Our people in general are not that healthy or happy and a lot of that ties directly with their job demands.

We had this very conversation at work this morning. One of my co-workers said she'd call in 'Rich'.

If I won I'd buy the company and then let dude interview for his job back. First question would be - "What would you do if one of your underlings suddenly became your boss?"

Good idea, offered salary exactly what you made before.

If your part of the 99% and you won $500 Million. First of all you only would

get about $260 Million after tax's if that much. Then you would be saying

how can they take almost half out in tax's that's not fair. Now your part of

the 1% and you start to realize that the 1% really do pay their share of

taxes. F**k you Mr. Buffet

Poor-man,

You need not wonder why you are a poor man any more.

I would hire Blackwater and put a bounty on the Black Panthers.

I'm willing to bet most of the people saying they would not quit their jobs really mean that they would continue to work. I can definitely understand wanting to remain productive but, why would anyone want to continue working a job to make someone else money. You could start a charity or business of your own.

For some reason, I just don't think that some one who just came into over a quarter of a million dollars would have a hard time keeping busy.

I don't buy lotto #s so I will never have to worry about it.

Bill, I doubt very seriously that poor man is poor in any way. Poor people have no reason to bitch and complain about paying taxes because they don't really pay much in the way of taxes. It is usually upper middle class folks that have ran up wayyy too many bills, living beyond their means. Bought a overpriced house before the bubble burst, trade in their cars before they are ever close to paid for but whine and complain about paying their taxes.

Quarter of a billion. Sorry

I'll let you know SATURDAY!!

livinginthewoods,

To be more accurate: Poor or the destitute pay porportionally more taxes than say the 1% or even the middle and upper middle class. The only tax they don't pay is the FICA.

They still pay state taxes. Sales tax, gas tax, state income taxes if they work as just some examples. Furthermore, people generally eat and consume basicly the same amount.

Allow me to explain. Bill Gates doesn't eat substantially more food than say a person on public assistance. However the person a person working minimum wage pays a much greater percentage of their income on taxes (the taxes listed above) than would say Bill Gates.

NOTE: Even if Bill Gates was the fattest person in the world, he still would not consume 52 billion times more food per day than an average man.

This is why the USA has always had a "progressive" taxing system where the wealthy pay a higher percentage of their income in taxes. At least we did till the mid 1980's.

Now look where we are at. Oh that's right we tax the wealthy less and they will create more jobs. So we started that experiment in 2001. Between 2001 and the end of 2008, 8 million jobs were lost.

Ok, where are the jobs? Seems to me that someone didn't hold up their end of the deal.

If your part of the 99% and you won $500 Million. First of all you only would get about $260 Million after tax's if that much. Then you would be saying how can they take almost half out in tax's that's not fair. Now your part of the 1% and you start to realize that the 1% really do pay their share of taxes. F**k you Mr. Buffet

You really shouldn't project your own insecurities onto other people like that.

EastRowanDad,

Spot on... I also believe that even those of purest intent would not be beyond this desire to share 'your' good fortune. As a church treasurer, I can easily imagine members of my church board viewing me, or another lucky parishioner, as an answer to their prayers, every one of them. Including prayers and needs not yet imagined.

In fact, I frequently caution mostly deaf ears to a condition that I call 'donor fatigue'. While it might be a fine psychological boost to be the go-to person, it can also be financially, physically and emotionally draining. And when those limits are reached, all to often we see a lost parishioner, who cuts themself off from the church family all-together.

To all those saying that you would quit in a heartbeat,

Consider the following two things. First, you will have a new, virtually full-time job learning large-scale money management. Whether taking the cash payout (my pick) or the annual payout, you now have the financial power of most medium size businesses in the US. You will likely be the the wealthiest person in town, and as a result, one of the most responsible. If you spend impulsively, you may lead local businesses and banks to make poor decisions. Or you may discover in the real, larger world; even $200million isn't that much money. Second, What are you going to do with the rest of your life? Where are your social contacts coming from? Will your wealth isolate you from family and lifelong friends? Applying money really doesn't solve every problem, especially if it is done through mailed checks and quicky phone calls. Employment actually provides 40% of our human contact for most of our life. I know too many older retired folks who spend too many days alone. And we thought money was why we had older Walmart greeters, in many cases, it's contact.

I'd buy Haiti!

Second, What are you going to do with the rest of your life?

I figure either a harem of hookers and cocaine on board my massive luxury yacht, or invest in a number of blue-chip businesses to gain voting rights so I can have a say in how they operate. Either way I'll have plenty to do.

john-737278 wrote:

I want to know who the 2866 liars are.

The number is higher now, but I'm assuming you're talking about the people who wouldn't quit working because "it's their life." If you look at successful people, many are worth millions or even billions, and yet they still keep working when they could easily retire. Loving what they do made them wealthy in the first place, and usually when you love doing something, you don't want to quit doing it. I fall into that group as well, and feel for the majority of people in the world who hate going to work. I never play the lottery, but if I won, it wouldn't change a thing, as I'd still keep working.

Poor or the destitute pay porportionally more taxes

In terms of real dollars they pay very little, and the vast majority of them are net "takers", not net contributors. In other words, they take more out of the system than they put in. Bill Gates pays WAY more money in taxes, but he doesn't use the highways more than I do. He doesn't get government assistance or food stamps. Basically, we have a progressive tax system NOT because it's fairer, but because the wealthy have money the government needs and the government figured out how to take it from them.

Someone once asked Jessie James why he robbed banks. His reply? "Because that's where all the money is!"

Why do we have a progressive tax system? Because the wealthy is where all the money is!

I've lived long enough without money and would be just as happy to be unhappy with it. I'd figure it out!

1 million dollars? I would probably stay on the job and invest it for a nice retirement in about 10 years.

500 million dollars? I'm gone.

They're either liars, or extremely naive. Even if you LOVE your job, you are probably going to want to travel or do *something* before too long. Perhaps they just don't realize that!

Concur David...they all lied..and lied HUGE!

lets see: i'm just spitballing here...but its about 370 mil after taxes?

I'd buy a very large boat..and just sail to whereever I wanted..all around the world if I wished.

And that is no lie. If i had anything left over...I'd deal with it then.

I'm with Jake. One million dollars, lump sum, post-taxes, in most states is ~400,000. You can buy a decent house, car, and pay off college loans or other debt and be sitting in a very good spot, but your winnings will be gone so you'll need to keep your job.

Anything over, currently, about five million means that with the right investment strategy you can safely walk away. I would never hire someone who claimed that they "loved the challenges of a job so much" that they'd stick around after winning a large jackpot, because I don't look for dishonest employees. It's the lottery equivalent of "my biggest weakness is that I just never give up, I care too much about the job to not do it right every time." Shut up.

Then again, I'm an avowed democratic socialist working for the corporate offices of a large corporation and despite knowing that, they've kept me on and put a lot of faith in me. Perhaps it's because I didn't lie my ass off in interviews. I told them the truth: When they're paying me, I'm doing their work, regardless of my personal politics. When they're not, I say and do what I want.

If I were to hit a jackpot of, let's say, 20 million dollars or more, I would not leave my job right away, as I like where I work and very much like the people I work for and work with. I'd feel bad about leaving them in lurch. I'd stay at the job for a few months while they hire someone else, and then offer to train the person they hire if they want me to. And yes, this would hold true even if I were to win the 500 million. I'd still feel a sense of responsibility to my employers and co-workers. But again, I like where I work. If I was at a job I hated, I'd leave in a heartbeat!

I wouldn't make any plans to leave my job, but it would be very nice to know that if circumstances change at work that I don't actually need it.

For 1Million I would probably stay working, and invest that Mil for my retirement. For the 500Million? I don't know. I work for a small company that could seriously use some $$$ investments in it. I think I would invest that money, into new technology and improve the overall production.

That done I could do some outside investments as well, which would increase the production and profits for the business and the employees. Investing in the community would help everyone involved and I would still have plenty to enjoy my life to the fullest with never again having a financial concern.

You guys are pretty sharp.

I would say that I wouldn't quit working, and I wouldn't be lying when I said it. I really do enjoy my job, and I'd be deader than disco in a year if I were forced to fully retire and do nothing.

"Your name is on one ticket in a barrel with a total of 176,000,000 tickets chances are you are going to reach in and grab any one of the other 175,999,999 tickets surrounding it."

That's not so, and it's something that people totally misunderstand about the lottery. You always have the same odds of winning which are based entirely upon the numbers available. However, as the money goes up, more people play so your odds that you will share a jackpot increase. For an ideal shot at winning the full jackpot, you want to play when it is high, but not near record amounts as much fewer people will be playing. The odds still suck as the quantity of numbers available to choose from is high.

My answer: Yes, I would quit this job, but no I wouldn't quit working. I would work the funds to make more. I would set up programs for autistic children. I would provide funding for battered women's shelters. I would create scholarships for the single mothers--and on and on. These are things of my personal interest, and that's where I would target my work.

A good interviewer would realize that seeing the bigger picture is just another part of "working." I don't see how that would be detrimental in getting a/the job.

For the record, before the recession of 2008-10+, $1 million dollar retirement accounts were not rare. Estimates were given that 10-15% of workers had such accounts. After suffering paralysis for over 13 years, my brother still left an estate over $350k, working as an assembler and inventory clerk for John Deere, while receiving full JD pension and Social Security. And very few of those 'millionaires' retired early or simply quit because they had their one or two million. But few knew that these were "wealthy" people, so they could live within their current income and have some faith that their future was secure. Unfortunately, too few listened to the advice to diversify and never have more than 10% invested in your employer. So, like former ENRON emploees, they ended up with very expensive wallpaper for the loo.

You're not kidding. It would be like I vaporized from my desk. Anyone who stays at their job has small goals, small dreams, and no family.

I'd call out sick for a few days, while I lined up my lawyer/accountant to create a trust. I don't love my job but may as well use the sick days and still get paid while I get my finances in order. Once that is in order, there is not a chance I'd work for a company the rest of my life.

Start a company? Invest in a good company? Yes....show up to work for some corporation? please, not in a million years....I've worked for a lot of different corporations and the only thing different about any of them is the company name on the paycheck.

I agree they can keep what ever personal items are in my office

Lump sum. You can invest it yourself and grow it into a far greater total than the payments would total to, even while siphoning off your living expenses and "I won the lottery, this is my FU money."

Besides, with all of the hookers and blow I'd be "investing" in, there's no way I'd live long enough to get all of my payments - get it all upfront.

paul

Plus, if you took the pay out over time (30 years). And die before you get it all, it's gone. You can't leave the rest to your family or what ever.

On the Mega Millions website it states that if you die before you receive all the yearly payments, the payments will continue to be paid to whomever you designate as your beneficiary.

This is different than my answer would have been even a year ago, but I'd take the payments. They would average about $19 million and change every year, and I just can't see needing more than that per year. And you wouldn't get the whole tax bite dropped on your head at once with a pay out.

I don't know about where you live, but in Texas, you can transfer remaining payments in your will.

You wouldn't NEED it, but if you were going to grow that money, which would be the wise thing to do, you could easily spend $19 million on a single piece of commercial real estate.

The lump sum without a doubt. I'd like to make some investments once I have my condo and yacht.

candy

You are correct. I looked at a state lottery by mistake. Thank you for your correction. ®¿®

As a "liberal", with strong Democratic leanings, I am amazed no one has brought up the 'tax I know now' versus the 'tax rates of tomorrow' issue.

Regardless of future capital gains and unearned income tax rates, I know the current rate, which I believe is actually 35%, unless you want to use income-averaging. I would prefer to just pay the tax now, use or invest the money as I choose, and leave future tax implications to succeeding years. Those payout tables assume fixed taxation rates into the future. An assumption that I would not make, regardless of who was in power. And there are still plenty of relatively safe places to invest or park money (at interest) and pay taxes on the income of $200million conservatively invested. Most of us would die trying to spend or give away $25-50million dollars, and leave an estate of $200million.

Of course most people would leave the job...they are looking for the crazies who would say "No, even though this is a job interview, I can tell I love your company so much that I would never EVER leave! It's always been my dream to work as a middle manager in a car dealership!"

If I was a hiring manager and I HAD to ask that question, I wouldn't consider anyone who even vaguely implied they would keep the job....

I'm with you guys. If I was asked that during an interview, I would look over my left shoulder, and then my right as if looking for someone else in the room, point to myself and ask, "Are talking to me?"

Its the interviewer's version of your wife asking "Am I fat"?

Tell the truth and let them know you'd be gone so fast the dust outline would take 10 seconds to fade away or lie your ass off and both of you know it...

There is no right answer to this question.

What if it's a trick question to see how stupid or how honest you are?

If I were asked that, it would be very difficult to keep from punching the guy in the nose for asking such an idiotic question (hyperbole of course)

How about, "Oh, I never play the lottery or such. I know how the odds work."

Personally, I'd leave smoke if I could afford to leave working.

Red Swinglines are the best! My boss thinks it's funny... and I'd even let the company keep it as I ran out of the door with my lottery winnings.

love the office space humor!

Life is too short to do that. Not worth it.

"I want a Cadillac, a big purple Cadillac, so I can drive around and laugh at poor people!" - LaRue

And you better have a fortune in insurance, 'cause you're going to need it.

"I want a Cadillac, a big purple Cadillac, so I can drive around and laugh at poor people!" - LaRue

Whoever this LaRue character is, he better make sure that Cadillac is bullet-proof!

Eh maybe if the job is doing porn, with a lot of hot ladies and no dudes. For your average blue collar or white collar job, hell no.

I think those interviews go a little differently ...

I guess, but I could see it being a job that might still be rewarding even if you had a lot of money.

So what you're saying is, birth control buys happiness? I'd agree. I hate it when people play victim, acting like they can't be happy because they have to go through all these hurdles to "support their family." Don't have a family if you can't support it, and do what you want at the same time. It makes no sense.

Unless of course you were banking on winning the lottery all along...

Well said. You just summed up life in America for about 80% of us.

So what you're saying is, birth control buys happiness?

Family does not necessarily = children. It could be supporting your brothers and sisters, mom and dad, inlaws, even just your spouse.

As Rhett Butler said, "Money can't buy happiness, but it can buy the most remarkable substitutes."

I think options/time/choices are a source of happiness, and money can fund those.

sounds like the old chit in the lounge routine.

I was thinking along that Idea too Drezz. I was thinking of the manufacturing of "Green" homes built for wounded soldiers. Our local VFW helped to fund a Handicapped accessible home for a young man from my church who lost both his hands in the early days in Iraq. Something like that would be worthwhile.

There are many worthwhile causes out there. St. Judes hospital, orphanages, soldiers homes, womans shelters etc. And even with helping with those, I would still have plenty to help my family and friends.

Spoken like a true liberal. I hope you win - unless I do.

Maybe you'll have a shopping cart dropped on your head as a reward for your charity efforts.

Even a good solid smack on the head resulting in a brain injury by the very thugs you are trying to help probably won't change your mind.

People are stupid like that.

I am sorry you feel that way about your company Truthhurts. I have been working for my company for almost 20yrs. and while I could have made a lot more by working in "Corporate America" I wanted a place with less politics and BS. So here I am. I like my company and the people I work with. Yes, we all have issues with our jobs. There are some days I do not want to go in, but I do anyway (most of the time).

I don't understand people being dissatisfied with their jobs. Why are you doing them then? I can see if you were let go from a former position and this is just to make ends meet, but your job doesn't sound that way. While jobs are tight now, what was your excuse before the employment meltdown?

Myself, I would invest in my company. They are good people, and the company produces a great product. Yes, there are still companies manufacturing products in the USA.

Good luck with your ticket, but I have to be honest and say I hope I WIN.

I hope you do, too, Janine. Why not you?

It has nothing to do about loving what you're doing, it's about the ability to be FREE. Money provides the tool to do and be whatever you wish.

I feel sorry for anyone who would win millions of dollars and continue to work. They either have a lack of a family life or no friends - looking for fulfillment from the office.

I don't understand people being dissatisfied with their jobs. Why are you doing them then?

Its easy, there are only so many jobs and 90% of them suck, but there are another 50 million people who can't even get one. Options are work at a job you hate or starve, not exactly rocket science here.