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re: Powerball at 1.40 Billion after no Winner

Posted on 10/5/23 at 8:58 am to
Posted by Rex Feral
Member since Jan 2014
14747 posts
Posted on 10/5/23 at 8:58 am to
quote:

CASH VALUE
$643.7 Million



Just remember that's what our government sends Ukraine every two days.
Posted by danilo
Member since Nov 2008
23428 posts
Posted on 10/5/23 at 9:32 am to
How would you take care of family (parents and siblings)? One time pay out or put them on a salary?
Posted by jeffsdad
Member since Mar 2007
23437 posts
Posted on 10/5/23 at 9:54 am to
One time and tell them, in a tactful manner, its the last time.
Posted by jeffsdad
Member since Mar 2007
23437 posts
Posted on 10/5/23 at 9:57 am to
I would probably give the winning ticket to my six kids and let them split it up with the understanding they pay for our future trips etc. I figure if I cash it, it would be taxed then and then when I give money to them, it would be taxed again. Thinking I would skip one of those taxings.
Posted by MardiGrasCajun
Dirty Coast, MS
Member since Sep 2005
5719 posts
Posted on 10/5/23 at 10:21 am to
quote:

Or, lump sum: $600+ million

How many winners are broke in 10 years?


None in this case. After taxes, you're looking at $400 million. No one is broke in 10 years after winning $400 million. In fact, no one is broke in their lifetime after winning $400 million.
Posted by CrystalPreserves
Member since May 2019
3678 posts
Posted on 10/5/23 at 10:25 am to
I would choose to take the cash but I would have to give my ticket to someone I trusted with my life to claim the prize.
The state has me on the hook for child support payments for a few more years and they (the state & the baby mama) won’t be getting chit from me.
My kid will prosper though.
This post was edited on 10/5/23 at 10:27 am
Posted by GetCocky11
Calgary, AB
Member since Oct 2012
53351 posts
Posted on 10/5/23 at 10:28 am to
quote:

Annuity is something like $30 million per year for 30 years = $900 mill

Or, lump sum: $600+ million

How many winners are broke in 10 years? Annuity can’t be too bad of an option.



I guess I just don't have any faith in the system to rely on them keeping their obligations to make the payments for x amount of years.
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