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Subscribe to RSSHopeful millionaires are swarming gas stations, convenience stores, and anywhere else selling Powerball tickets for a chance to win the game's biggest jackpot. NBC's Mara Schiavocampo reports and a seven-time lottery winner reveals his strategies.
Forget toy cars, gingerbread houses and waiting in line to see Santa at the mall. If you’re lucky enough to win the record Powerball jackpot on Wednesday, your new holiday shopping list can include a real Lamborghini and a million-dollar custom-built home.
Oh, and Santa can plan to come to you.
There will be no need to think too hard about the price tags. The Powerball jackpot had jumped to a record $500 million by midday Tuesday, or $327.4 million if you take the cash option.
Of course, federal and state taxes will eat up a good chunk of that. But chances are you’ll still have enough left over to go on a serious holiday shopping spree.
Here are some items you'll want to consider:
A trip to the North Pole
You’re a millionaire now, so obviously you can’t just be content to visit Santa Claus at the mall. Why not go right to the source? Journeys International offers a two-week trip to the North Pole, including a champagne toast at the top of the world and copious opportunities to see polar bears, belugas and other wildlife. The trip starts at $23,995 per person, and a suite on the boat will run you nearly $35,000. Don’t forget to budget for the charter airfare and, of course, your designer outdoor gear.
Santa Claus
Tom Grill / Corbis stock
The downside to the North Pole trip is that it doesn’t happen until June. Maybe an actual visit from Santa is in order. The good news
is he makes house calls. SantaForHire.com promises real bearded Santas, with prices ranging from $150 to $300.
The best holiday meal
Neiman Marcus
If you win hundreds of millions of dollars, you clearly aren’t going to be cooking your family’s holiday dinner. For a mere $250,000, Neiman Marcus offers a private dinner for 10 featuring four of the world’s best-known chefs : Daniel Boulud, Thomas Keller, Jerome Bocuse and Richard Rosendale.
The latest HDTV
LG
High-end TVs are always a popular item on the holiday wish list, and now that you’ve won the millions you might as well splurge on the latest technology. The LG 84LM9600 Ultra HD 4K LED LCD runs $16,999 and will give you those bragging rights.
Your dream home
Self-gifting is all the rage these days, and what better gift to give yourself than a custom-built dream home? The holiday gift guide from the Robb Report, a magazine for the world’s wealthiest individuals, notes that for a mere $14 million, architect Richard Meier will build you a dream home overlooking the Caribbean Sea in Puerto Rico.
A holiday hot rod
Lamborghini
No holiday wish list is complete without a top-of-the-line vehicle. The Robb Report recommends a Lamborghini Sesto Elemento, a limited edition race car that runs more than $2 million.
A diamond tiara
tiffany.com
If you’ve won millions of dollars, you or your significant other is going to feel like royalty. Tiffany’s diamond tiara is a good option; a similar one recently sold for $135,000.
The best post-holiday vacation ever
The holidays are stressful, even for a multimillionaire, so you’ll probably want to plan a post-holiday getaway to a warm locale. The Robb Report’s recommendation: “Magic Moments,” a weeklong vacation for 24 guests hosted by world-famous illusionist David Copperfield on his private island in the Bahamas. It starts at $1.36 million.
Related:
What to buy when you win the $640 million Mega Millions
Leave a Comment:
Pay off both of my Sons college loans and then buy myself a bigger boat... one that is safer to use in the Columbia than my 16 footer ><((((({ * ,>
We need a community wellness center where people of all ages can learn, work, and play all day long. We'd do great projects, help alot of people reach personal goals, and of course emphasize environmental responsibility. All set to music.
I would pay off my mortgage, fix the things around the house that I have been putting off, get a newer car, pay off my children's student loans, give money to siblings to help them make their mortgage payments and pay off some of their debts, take my mom on her dream vacation to the Grand Canyon, set up trusts for my children's and/or their children's futures, set up scholarship programs for kids to be able to be able to go to college, give to church to fund missionary work, start a charity that would fund opertions for people that insurance has turned down, finish my college degree and get a job in a field/ start a business that I want to do.
Buy a senator and a couple of congressmen. With help of a couple of politicians in my pocket, maybe try buy a president. Parlay in with some of the other rich folks and try squeeze money out of senior's retirement accounts. In the mean time, try shift as much money as possible to overseas accounts to avoid paying taxes. And after I have bought a place in hell for myself, turn it all over to the poor and needy.
I don't think you need to buy your way into hell: I'm pretty sure you can do that for free. Try again, John.
We need a community wellness center where people of all ages can learn, work, and play all day long. We would do great projects, and help lots of people achieve personal goals. There would be heavy emphasis on environmental responsibility. All set to music.
I'd purchase all of the bibles on the world and burn them setting free billions of enslaved people from the yoke of ignorance...
So, it's apparently your goal to make everyone believe as you do.
Travel everywhere I dreamed of in style.
I would invest in horse farms- LOTS of them- and rescue and retrain off track thoroughbreds for new careers as show horses. I would invest in today's youth to educate them about responsible horse ownership and the significance of the partnership between man and horse...In addition, I would provide for those horses that have won (in some cases MILLIONS of dollars) to have a safe haven to live their lives out peacefully and safely..and SOMEHOW I would stop our US horses from going to slaughter!
A financial advisor will say take the cash. They are looking out for their interests, not yours. You could invest it all tomorrow and the market crashes 30%. There goes 50 million or so gone forever. The annuity is best. That is plenty to live on each year and it ensures that the money is not gone within a few years. There are many people who would be broke in 5 years taking the lump sum.
A few small houses in places like Hatteras, Florida, Australia, South America and a few other good surfing spots. Pay off my kids college loans and spend my time traveling, taking in other cultures and their histories and surfing. Screw the big houses and material stuff....real world experiences are what I am after.
Of course I'd start with a trip to Italy- a nice home in the suburbs, nothing mulit-millionish though. A couple good cars. And then I'd love to start a home for single mothers recovering from addictions. A home that include a place for their children while they acquire job skills and attend college. Also a program for people that do not have dental insurance.
After splitting the cash option with my co-worker. Give 10% back to GOD($1.9m) to 5 different churches in my community. Continue to take care of my 87yr old grandmother. Bless financially Disable Veterans in my area. take care of my family. Stay humble and remember who made it possible for me to be a millionaire.
I would make sure that any of my immediate family was clear of debt, set up trust funds for my niece and nephew's college, buy a new house so that I could fix up and donate the one I'm currently living in, and then live modestly for the rest of my life.
I would like a home big enough to cook for my family and friends, and property large enough to have a garden that large enough to help myself, and others in the community. . I would make sure that my Son's home is paid off, and my grandson has enough for his education and a home. I would retain a driver for my son, so he could have more mobility. He is vision impaired, and has limited access to getting to where he needs or wants to be. I would also build a home for my sister who is an amputee, and needs more assistants to help her live with more care.
I would do a bit of traveling, and help the locals schools where I grew up, so that kids there have a better chance at life.
I would help people in Haiti. I think private entreuprenaurs may do much more faster than those people who are running these non-profits.
Giving people dignity, education, and hope is probably the best thing I could do, other than myself with more luxuries than I probably deserve.
It would be a dream for sure. Not sure if it would be a nightmare or a dream come true. I would pay off our debts, put aside funds for the kids' college, and give a certain amount to each of my siblings and their families as well as my mom and my in-laws. I would donate funds to my church to build that new building (anonymously) and I'd buy a lot of land and live in the country with lots of animals and a tutor for the kids' education. I'd do a lot for cancer research - lung cancer took my dad. And I would invest the rest and look for those opportunities to pay it forward anonymously.
You are all crazy with this "set up college fund" and "pay off debts" stuff. We are talking 278 MILLION (ok more like 166 MILLION once uncle sam takes his piece). With that kinda cash debt, college, house, cars are all obvious. Lets hear the splurges - trips around the world - on my own 100' yacht or G5 LearJet.
For me it would be coke and hookers all the way!
The biggest problem will be trying to purchase a G5 from Lear since that is a Gulfstream built jet.
You residual problem will be maintaining the yacht and jet which will break you of the money you have left over in about five years.
This is why so many lottery winners file for bankruptcy. Coke + hookers + broke = prison.
After talking with an accountant and a lawyer I would set up a trust to keep my name out of the papers. Then.......
I wouldn't do what the article says because I would be bankrupt in ten years. I would get a reasonable home in a secure gated community. No sense in purchasing more than you are going to use. I would find a way to help children abandoned by their parents. Make a huge donation to cancer research. I would then like to create businesses and put the employees completely in charge, the more the business makes the more they make. I would only require the expense back without interest. Other than that I would enjoy the rest of my life and make sure that my daughter never needs to worry about money. There are a select few in my family I would help out while most of the rest woudn't even get a Christmas card.
Make a huge donation to cancer research.? Better keep the money. Cancer association already know the cure for cancer, but its better for them to keep their revenues coming from Chemo and Radiation....
....while most of the rest woudn't even get a Christmas card... LOL
I'd pay off outstanding student loans, credit card debt, set up trust funds for grand kids and move to another state and build a green home. After that I might take a couple of trips.
1. Pay off mine and my family members' outstanding debt.
2. Private island in the Caribbean.
3. Boat to go with island.
4. Truck to go with boat.
5. Restore my car.
6. Trust funds for favorite charities.
7. Make sure my mother is without any financial worries for the rest of her life.
8. Bank the rest and live a relatively carefree life.
Although I would go through the motions of paying all debts off, helping family etc... I can only add that there will be a number of schools that will not want for things for a very, very long time.