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3
Posted on 10/20/18 at 8:22 am to GRTiger
quote:
I know
Can't tell who knows what in these threads.
Posted on 10/20/18 at 8:23 am to slackster
Depends on how you spend the award.
Posted on 10/20/18 at 8:25 am to slackster
quote:
You'll still owe 13% in April.
They'll never find me by April.
Posted on 10/20/18 at 8:26 am to slackster
quote:
You'll still owe 13% in April.
Unless you can find some losses to deduct and get you out of that top tax bracket
Posted on 10/20/18 at 8:26 am to slackster
quote:
Texas: No State Tax on Lottery Prizes!
Your average net per year: $40,533,333 Your net payout: $687,724,000
After 30 payments: $1,215,999,990
TX still shittin on La even in MEGA MILLIONS
Posted on 10/20/18 at 8:29 am to Tiger Nation 84
I matched 5, won $1 million
Posted on 10/20/18 at 8:30 am to jackmanusc
quote:
Depends on how you spend the award.
If you want to buy a business that lost tens of millions of dollars just to avoid the taxes, go right ahead. The amount of those you could possibly afford that are also a solid investment (remember you now own a business that just lost a ton of money) aren't plentiful.
Posted on 10/20/18 at 8:31 am to slackster
This is why dumb people go broke.
They over think shite.
650 million dollars. Even at 3% growth is generational wealth.
They over think shite.
650 million dollars. Even at 3% growth is generational wealth.
Posted on 10/20/18 at 8:45 am to 50_Tiger
I’d imagine it will be close to 2.5 billion come Tuesday
Posted on 10/20/18 at 8:50 am to Displaced
quote:
I'm in the "take the annuity to protect me from myself" camp
Right. Once it's this high you're still getting a ton of money up front
Is it 30 years of monthly payments? 1.6 billion divided into 360 payments is 4.4 million a month gross
Posted on 10/20/18 at 8:52 am to 50_Tiger
quote:
This is why dumb people go broke.
They over think shite.
650 million dollars. Even at 3% growth is generational wealth.
Even if you take the annuity it's generational wealth
Why people act like they're going to be investment savants overnight is beyond me
Posted on 10/20/18 at 8:58 am to Powerman
quote:
Right. Once it's this high you're still getting a ton of money up front
Is it 30 years of monthly payments? 1.6 billion divided into 360 payments is 4.4 million a month gross
But isnt the annuity only valid for the original winner?
Edit: I googled and found this was only a rumor, but I'd still take lump sum for the reason below...
Plus I'd feel safer taking the lump sum and spreading investments across multiple banks, countries, and type of investment like stocks, bonds, gold, crypto. I don't know what kind of protection the lotto has over annuities.
This post was edited on 10/20/18 at 10:31 am
Posted on 10/20/18 at 9:01 am to BurningHeart
I would lump sum it and put 100% in my vanguard account.
Posted on 10/20/18 at 9:03 am to Tiger Nation 84
quote:
Match 5 + 0: Winners in California(1), Florida(1), Illinois(2), Missouri(1),New Hampshire(1), New Jersey(1), New York(4), Texas(1-non-Megaplier plus 1-Megaplier) and Virginia(2).
Again with New York (4) then Illinois (2) and Virginia (2)..Even beat out California (1)...
Posted on 10/20/18 at 9:06 am to John Casey
quote:
It takes approx five seconds to fill out each card, so you'd need almost 28 years just to mark the bubbles on the game tickets. You'd also use up the national supply of special lottery paper and lottery-machine printing ink well before all your tickets could be printed out.
Old school.
In VA you can swipe your credit card to pay for tix and the machine just spits them out in 2secs if you are doing autopick numbers.
Posted on 10/20/18 at 9:06 am to Powerman
General rough guideline is the advertised jackpot/3 is what you end up with after taxes with the lump sum. It’s actually a little more than that but that’s a good rough estimate. So we are looking at about 550 million after taxes for a lump sum payout currently.
I can’t conceive of any way I could blow through that amount of money in my lifetime. Maybe I just don’t dream big enough. If I were to win, I can think of lots of things I would do with the money. Travel, philanthropy, suites at all the games I want to go to, a few nice vacation homes...the things lots of people would do.
Honestly, investing at this level of wealth is unnecessary for you to live well and pass on a huge amount of wealth to your descendants. That said, of course I would invest it. Not myself. At least not most of it. I would rather pay someone who knows what they are doing professionally to do it for me.
I would probably open up a restaurant/pub somewhere. One with live music so I can have my friends come play and pay them well and have my favorite artists come play small intimate shows. I’d have the money to be able to make it happen. It would be a hobby, not an investment. I would expect to lose money on the deal. Purely for my entertainment. I would have a threshold for how much money I would be prepared to lose before I shut it down. But until then, we would have some fun.
International first class travel. Expanding the horizons of my kids. That’s the sort of thing I would enjoy.
And I’d spend my time on hobbies and volunteering somewhere that would mean something to me.
I can’t conceive of any way I could blow through that amount of money in my lifetime. Maybe I just don’t dream big enough. If I were to win, I can think of lots of things I would do with the money. Travel, philanthropy, suites at all the games I want to go to, a few nice vacation homes...the things lots of people would do.
Honestly, investing at this level of wealth is unnecessary for you to live well and pass on a huge amount of wealth to your descendants. That said, of course I would invest it. Not myself. At least not most of it. I would rather pay someone who knows what they are doing professionally to do it for me.
I would probably open up a restaurant/pub somewhere. One with live music so I can have my friends come play and pay them well and have my favorite artists come play small intimate shows. I’d have the money to be able to make it happen. It would be a hobby, not an investment. I would expect to lose money on the deal. Purely for my entertainment. I would have a threshold for how much money I would be prepared to lose before I shut it down. But until then, we would have some fun.
International first class travel. Expanding the horizons of my kids. That’s the sort of thing I would enjoy.
And I’d spend my time on hobbies and volunteering somewhere that would mean something to me.
Posted on 10/20/18 at 9:16 am to BR Tiger
Take lump sum after taxes and invest in least risk vehicle at 3.5% would yield about $480k per week for the rest of your family's existence and never touch the principle. Mind blown.
This post was edited on 10/20/18 at 9:22 am
Posted on 10/20/18 at 9:25 am to BurningHeart
quote:
But isnt the annuity only valid for the original winner?
Meaning if you die before 30 years is up, your heirs don't pick up where you left off.
No.
Posted on 10/20/18 at 9:35 am to Tiger Nation 84
I played last night for the first time since the last time it was over a billion. Five picks, and it was the first time I've hit absolutely zero numbers.
So that's it. I'm definitely going to win next time.
So that's it. I'm definitely going to win next time.
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