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Started By
Message
Powerball - $510,000,000 - who's in?
Posted on 8/17/17 at 5:54 pm
Posted on 8/17/17 at 5:54 pm
Bought my tickets before the rush.
In Louisiana, if you take the lump sum option, you would end up with $226,940,000 after taxes.
If you decide to do the annuity option, you would end up with a first year payment of over $5 million after taxes and your 30th payment would be over $22 million after taxes. The total amount you would receive after taxes would be $357,000,000.
Which option would my fellow OTers choose if you win? I want my 226,940,000 now.
In Louisiana, if you take the lump sum option, you would end up with $226,940,000 after taxes.
If you decide to do the annuity option, you would end up with a first year payment of over $5 million after taxes and your 30th payment would be over $22 million after taxes. The total amount you would receive after taxes would be $357,000,000.
Which option would my fellow OTers choose if you win? I want my 226,940,000 now.
30
Posted on 8/17/17 at 5:56 pm to TDsngumbo
Meh I'm waiting for it to hit a billion again. 250 million ain't worth the hassle of standing in line at Habboobs.
Posted on 8/17/17 at 5:57 pm to TDsngumbo
Lump sum is always a better deal, unless someone is just going to blow the entire thing.
Posted on 8/17/17 at 5:58 pm to TDsngumbo
Lump sum for me. I'd have 226 million that I didn't have before and I can pass down to family if I die. Don't think you can do that if you take the yearly pay out.
Posted on 8/17/17 at 5:59 pm to TDsngumbo
When's the next drawing?
Posted on 8/17/17 at 5:59 pm to TDsngumbo
I'll be taking the lump sum
Posted on 8/17/17 at 6:00 pm to Maester Davos
Saturday
Posted on 8/17/17 at 6:00 pm to chicano12
I feel like you have to go with the lump sum in case powerball goes bankrupt.
Posted on 8/17/17 at 6:00 pm to TDsngumbo
You don't math good. In LA you would get 178mm after taxes on the lump sum
Posted on 8/17/17 at 6:00 pm to chicano12
I'm not trusting the Democrats to not eventually do something stupid with the tax code, so I'll be taking the cash when I win.
Posted on 8/17/17 at 6:02 pm to TDsngumbo
If you can pass down the annuity or put it in some sort of trust then that is probably the option I would take.
I'm making +5MM a year and guaranteed a set return on my investment.
I don't need to try and build my wealth at that point, just maintain it.
I'm making +5MM a year and guaranteed a set return on my investment.
I don't need to try and build my wealth at that point, just maintain it.
This post was edited on 8/17/17 at 6:03 pm
Posted on 8/17/17 at 6:05 pm to southernelite
Take the lump sum and buy gold bricks. Not the expensive kind but the gold brick Easter candy factory.
Posted on 8/17/17 at 6:06 pm to TDsngumbo
Deez Nuts, that's who.
Posted on 8/17/17 at 6:07 pm to Happygilmore
You have a year to claim the prize. I'd use that year that establish residency in Texas.
Posted on 8/17/17 at 6:07 pm to fightin tigers
quote:take the money
fightin tigers
I will get bigern to explain it to you
Posted on 8/17/17 at 6:08 pm to southernelite
quote:
You have a year to claim the prize. I'd use that year that establish residency in Texas.
Is that the requirement? I figured the state that sold the ticket collects the taxes.
If it is just residency then I am setting up shop in a country with no income tax.
Posted on 8/17/17 at 6:08 pm to TDsngumbo
quote:
30th payment would be over $22 million after taxes.
Assuming you live the full 30 years
Posted on 8/17/17 at 6:10 pm to Rouge
quote:
will get bigern to explain it to you
I get the argument of growing money and how you can surpass the amount with the smaller lump sum.
Not arguing that line of thought.
I just dont want to worry about managing that shite if some Bernie taking 50MM of my shite at a time.
This post was edited on 8/17/17 at 6:11 pm
Posted on 8/17/17 at 6:10 pm to TDsngumbo
Option 2. That way if you completely frick up a couple investments more $ is always coming in for 30 years.
Posted on 8/17/17 at 6:10 pm to fightin tigers
Maybe it does have to with the state that sold it? I have no idea.
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