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Reply to "MegaMillions winning ticket -- share your fantasy"
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[quote=Anonymous][quote=Anonymous]First, I’d take the long-term payout rather than the lump sum. I’d finally renovate my kitchen and add a screen porch where my deck currently is ( assuming I’m the only winner; DCUM conventional wisdom is that adding a screen porch would be more than a $440 million winner could afford). I’ve always thought I would split a lottery win 3 ways: 1/3 to protect me and my immediate family’s long term financial security, 1/3 to family and friends — give a bunch of people $1-$2 million dollars, set up college trusts for the kids of everyone I know, etc, and 1/3 to charity. I would use the Mackenzie Bezos model— give it out now, rather than setting up a foundation to give it away slowly. [/quote] I thought the advice was to always take the lump sum?[/quote]
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