Lottery ticket worth $232 million sold to winner in Winner, S.D.

Bo Vine wrote:

If I won I would buy some land, put some in the bank, get a hooker or two, some chicken and have a hell of a weekend.
mooo eat moor chikin

Quoth the Raven wrote:

This wouldn't be a great time to win the lottery. Where would you put the money? Maybe there is a lotta land out there they could buy. The value of land goes up and down but the land itself stays put. Unless it's on Mt St Helen's or something.

Fed up with bailing out wrote:

I sure hope the state has the money to pay this winner by the time it's cashed in. Maybe the winner will be kind and bail the country out just a bit.

Fed up with bailing out wrote:

<quoted text>
That's a pretty good question. I've often wondered where someone would keep that kind of money. It's difficult to know who to trust. If you put it in the bank it's only insured to $100,000, right? I guess that's why winners likely hire a lawyer right away.

Fed up with bailing out wrote:

<quoted text>
That's a pretty good question. I've often wondered where someone would keep that kind of money. It's difficult to know who to trust. If you put it in the bank it's only insured to $100,000, right? I guess that's why winners likely hire a lawyer right away.

Quoth the Raven wrote:

<quoted text>
Trouble is the lawyers aren't really that trustworthy either. Funny though-this winner lives in the very place I always said I'd move to if I ever won the lottery. Not the specific town, but the western Dakotas, badlands, Black Hills, Missouri breaks, etc. My favorite place to be.

Bo Vine wrote:

<quoted text>
Cash in banks is currently insured to $250,000 per SS# per non linked account. If you have a single joint account then you have $500,000 insurance. Building that out with a totten trust you can get to $1.5M if you have two kids and include 2 parents / in-laws.
One would typically put a sizable amount into a local bank or two for easy access and liquidity. From there you would put some in the market and other more non liquid investments. Obviously there are the charitable grants too. In most market accounts you are insured up to $1M. So even without a lawyer it is fairly easy to plan this out. The bottom line process is not to put all your eggs in one basket.
I still think I would get some land, a couple of hookers, some chicken and have a hell of a weekend.
mooo eat mooor chikin