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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:
"Hey Powerball winner, here's your holiday shopping list"
Thanks for the advice folks...I'll use the money wisely...
First, how about a trip to Mars?
Yeah.. I wont' be winning so I am gonna stick to my wish list of a "Get in the Kitchen, Bit-ches! cookbook" (seriously, google it) some new cooking supplies and some great spices... here's to hoping though
Pay off my $87 credit card bill, pay off my $67k mortgage and pay the regular bills, I suppose I would by a new car and still drive my paid off suv and I guess continue my early retirement (currently 44 yrs old). Continue to save money and keep a budget. I could not spend all this dough, I'd continue to buy businesses and flip them. It's fun to resell to employees and turn them into entrepeneurs.
Thanks DocHolliday, I like your post..... Dave Ramsey said it best... drive cars for life, save money and retire rich... I learned that and stuck with that and still doing very well.... powerball winner, call Dave and get some good advice.
College debt paid off in full, parents' homes paid off, best friends' cancer debt paid off...
Become permanent student enjoying and learning whatever and wherever I want without the stress of working at the same time.
Purchase 5 acres of land. Build a Church that preaches Jesus Christ crucified for the Salvation of the entire Human population. Pay for my childrens education. Start a program that will assist homeless people in starting over.
I'd make sure every kid in my county had a good meal, decent clothes, supplies, and something fun--just for starters. Then, I'd provide for some more under-privileged groups by way of housing and utility support. I would start a foundation for autistic children to help them progress against their disabilities.
I would fund a scholarship program for women who need the help to go or go back to school.
I'll think some more on what I could do with that sum of money. I'm sure a lot of good could be done with it.
I have virtually everything I need. I might build myself a studio for the things I like to do; and travel a bit, but that's about all I need for me. Of course, I would share with my kids and grandkids, pay for their education, etc.
Things I would not do? I wouldn't give a dime to any political party or organization. I would NOT run for political office. I would not get married, although I might date a bit. LOL. And I would not become a celebrity or play celebrity reindeer games.
Pay off our and our children's bills. Make sure we all had homes paid in full. Set aside a LARGE fund to pay for spaying and neutering animals for those who cannot and to help pay for spaying and neutering feral cats and dogs. Set aside a LARGE fund to help pay for holiday meals for needy people in our area, there are more than the government will admit to. And I know a few families personally that need a boost I would give them that. What is left over have a little fun and then be careful about how it is spent. I see many people do have helping animals on their lists we need something set up so it would be more economical to spay and neuter pets to stop the overpopulation.
There are so many wonderful things people are willing to do for someone else, I'm proud of all of you. I also would buy myself a nice house, a newer car (maybe a new one, my car is about 20years old), pay off my debts, my daughters college loans as well as my future son-in-law's college loans (he's from out of state), help my family. Then there are also animal shelters etc., people who are struggling with medical bills, utility bills, the homeless, kids who need help. I work for an attorney who does not need any help, so NO money going there. Wow I could actually walk away from it. :) I only wish that the Lottery Headquarters would get smart and lower the numbers you have to pick so that tons more people can win and hopefully enjoy their lives and help and support others including animals.
I'd purchase a nice house with acres of land and my wife and I would rescue a ton of shelter dogs.
Considering most shelter dogs are Pits, you could come home to a wife mauled to death by your dreams...Stick to small dogs she could kill with he bare hands.
Payoff all families debts, immediate family (parents/sibling/children). Give all my friends 10K, put away 50K per grandchild (6) to date for education, if they choose, if not they can have it in increments starting at 25. Give 100k to SIDS foundation, dive in to that program and develop ways to make it never, ever happen to anyone again.
All family and friends would be come debt free...... would be nice to give them a chance to start over! And, of course, my favorite charities would get a boost!
Gift tax kicks in at $10,000 per person each year. There is such a thing as a lifetime gift but that can only go to family members, and after 2013 it falls to a limit of $500,000. Keeping the IRS out of the picture is a good goal.
I would demolish the house we're living in and build a new one, with professional landscaping. I would also fence in a portion of our land, build a barn and get a horse or two. Then I would pay off all of my family's debts - including my Dad's, In-Laws and others. I would set my SIL up in an apartment with a live-in assistant so she could live independently and with a decent standard of living. I would buy a beach house.
I would also donate to animal rescue organizations and groups that raise and train assistance dogs (for the vision impaired, mobility impaired, diabetics, hearing impaired etc). I would donate to causes to help our military veterans as well.
Then I would invest the rest so that I could take care of my family for the rest of their lives and my life. It would be set up in a trust format so that the investments would outlive me and continue to benefit my family (and the groups that I have supported initially like Service Dog project and Diabetes Assistance dogs) with the provision that the trust must continue for as long as it can, changing trustees when one dies or becomes incapable of continuing.
Like Zapper, I would not contribute to any political parties and the trust would be prohibited from making any political contributions - EVER.
if i won the $425 million powerball ($278.3 million for cash option)...here is what i would do...
1. tithe 2. pay of debts for me and my family 3. BUY A SAFE! so i never get taxed on that money again...once is enough!
Maybe you should hire someone to teach you about tax law?
You're taxed once for getting the money. The yearly taxes are taxes on interest/investment income you receive. You'll forgo your interest/investment income?
Heck, I would still buy a safe and fill it full of gold and silver. I would buy lots of good property because land will always have value. I would invest, of course. That would take care of my gambling fun!
for real PJ and not cry after you left the casino as to how MUCH you lost LOL
I would just buy a one way ticket to Monaco and never come back
I'd go to Vegas to gamble & purchase hookers- lots of them!!
That's really pretty sad.
Hey, if sex olympics is his style, then I'd suggest just purchasing the "dating" service. Totally legal in parts of Nevada.
I would do away with Gallaudet and create a new college for the deaf with modern facilities, better trained teachers, and something that isn't happening--a real chance for jobs for graduates. The 72% unemployment among the deaf is a national disgrace.
I don't know if all deaf people are as rude as the kids and their chaperone (especially the chaperone!) from the local school for the deaf that use the train stop I do, but if they are, that would sure as hell explain it.
As far as the money, pay off my mortage and my brother's, get his second truck back to roadworthy shape, have a garage built for it, set aside college money for his kids so our parents don't have to, and have my dream house (pretty modest, actually) built on the rural property I already own. I'd buy out the adjacent property owners as best I could, too, and keep buying them out as they decide to sell.
Seeking to build Karma for future lives I would help the needy, the abused, the hungry and our wonderful animal kingdom that the blessings of a greatful populace would reach heavenward and grant peace to all. Blesings.TC
Happy to see so many compassionate and thoughtful answers... Hooray America!
Mine would be the Multi-Million Dollar house (with land) large enough to take in and lovingly raise children who are in need of a home and family. Animals too - it would be a haven of love and hope...
the things I would NOT buy are a tiara made of shiny rocks, a $2 million dollar car that does 200 MPH to drive on roads that you can only drive 75 mph, a $14 million dollar home on the Puerto Rico coast that would just get destroy by one of the many hurricanes that hit that area every year, or a flat screen to watch TV that has turned into nothing but commercials and reality TV.
What kind of complete moron made this list up?
Looks like you're not ready for all that money!
deprogrammer,
Though you might be correct on some of the things you state....my foot is just itching to kick you in the face you facist commy bastard.
yea a terra? who the HE(( made up this list a TERRA (REALLY?) how dumb is that and WHY would you need or WANT this?
I'd use the money to replace some of our towns structures. Our Memorial building for starters, it is getting pretty bad.
Use it wisely, do some safe investing, hire an accountant, and never ever ever worry about getting bills paid again.
You know, you're right. If you were that rich, you'd have access to loopholes that we nobodies don't, and you'd never have to pay for anything again. Ironic, isn't it?
First I'm young enough that I would take the payment option, Second I would pay off all debts, have the wedding me and my fience want, send him to school to finish his degree that he wants. Buy the house we live in now and later give it to my sister who is a single mother with 2 kids then help my parents either pay off there morgage or help them relocate to a new home. I would build my home on a large piece of land and get the permitts needed so I can dedicate one floor of my home to house as many foster greyhounds as needed when they come off the track and are ready to start looking for a forever home.
The payment option is good for people who don't know how to manage their money.
Grey area needs to buy a dictionary or at least spell check. (I like your list.)
Thats over a half of a billion dollars.Which is enough to more than found a large city.In the wrong hands could destroy a country.We recently had a major natural disaster in New Jersy.Id give a large portion say 400 million to victums of the storm. and keep the rest for taxes and a secluded tract of land if one can still be found, Build a fall out shelter with amenites like a man cave.I am 44 years of age and have worked and lived with my parents all my life,and still live with my mother who is legally blind as I care for her I see what is really important and nessacary to live .The frills and esqusite things that much money can buy do have a price tag but some things nessacary to live are pricess but yet inexpensive.
After taxes it's less than quarter of a billion dollars but hey, who's got time for math education anyway?
Nothing. I don't expect to win.
farsight 2184215 I don't expect to win but will still have dreams. I would so like to help the charities that give to others but politicians stay out of my face I DON'T trust you so no donations to any of you.
LOL of course I would pay off debt, pay off loans on all of my families homes, I would have a nice house and farm that is green in most every way and set a big chunk away for my daughter's education and future and then I would immediately hit the road with the WHO! Gotta have some fun with it too. Then I would travel and buy my family farm in Sweden.