No powerball winner

KChurch86

KChurch86

Banned
Founding Member
Location
Western Massachusetts
Didn't play, didn't win.

My F-I-L bought me a ticket for Wednesday's drawing for my birthday, and if i remember I may buy a few more.

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KChurch86

KChurch86

Banned
Founding Member
Location
Western Massachusetts
Prime said:
I'll be buying more. Can't pass up the opportunity.

Also, if whoever wins take the lump sum, they're a retard.
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How so? I realize the take-home is much less, but you only pay taxes on it once...right? And when the jackpot is that high, you still take home mad money.

Or have I been misinformed?
 
Pro-2X

Pro-2X

Suspension Lift
Location
Rockmart, GA
Prime said:
I'll be buying more. Can't pass up the opportunity. Also, if whoever wins take the lump sum, they're a retard.
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I believe this is quite a matter of opinion. Tomorrow is never a guarantee and who is to say you would ever get all of the money if you took the annuity? Those lottery people could be doing some Enron type accounting and low and behold they go bankrupt and you are left with nothing. A bird in the hand is worth 1.3 billion in the bush any day. Just give me my money and we will part ways. Simple quick and easy.

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Pro-2X

Pro-2X

Suspension Lift
Location
Rockmart, GA
KChurch86 said:
How so? I realize the take-home is much less, but you only pay taxes on it once...right? And when the jackpot is that high, you still take home mad money. Or have I been misinformed?
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No, you are correct and given the state of our government it would not shock me to see them pass a "Super lottery award" tax for people who win large sums and then you wind up paying even more in taxes.

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TheFauxFox

TheFauxFox

Titan Swapped / SAS'd
Founding Member
Location
Huntsville, AL
Pro-2X said:
No, you are correct and given the state of our government it would not shock me to see them pass a "Super lottery award" tax for people who win large sums and then you wind up paying even more in taxes.

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In TN, taking the lump sum gives you about 38% of the total, or about 10-20% less than the payment-option. I'll happily take my lump sum now because who cares if you only ended up with 1% of that? Thats still $1.3m more than you had last week.
 
Pro-2X

Pro-2X

Suspension Lift
Location
Rockmart, GA
TheFauxFox said:
In TN, taking the lump sum gives you about 38% of the total, or about 10-20% less than the payment-option. I'll happily take my lump sum now because who cares if you only ended up with 1% of that? Thats still $1.3m more than you had last week.
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That's what I am saying. I will always take a smaller guarantee today than a maybe in the future.

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Prime

Prime

Shut up Baby, I know it!
Admin
Location
Denver Adjacent
So at 1.4B, lump sum is 600M. Annuity is 964M. First payment out on the annuity is 14.9M. The annuity is funded by the state every year to a private investment bank from which you draw from. I'd be gambling on another 30 years of government for $364M.
 
TheFauxFox

TheFauxFox

Titan Swapped / SAS'd
Founding Member
Location
Huntsville, AL
The payout is not. If you die, thats the end of the gravy train (at least here). The state taxes are also lower here as opposed to most states. TN is in the top 20% best states to win based on taxes.
 
Cruecible

Cruecible

Titan Swapped / SAS'd
Location
Albuquerque, NM
Would it be safe to assume that someone with the correct and intelligent financial guidance could invest the lump sum to make just as much, if not more than, what the annuity total would be? And probably in less time too.

Taking one of the most basic of investing items, gold, and using the $600M lump sum as the base number: Lets say $575M goes right into gold at current market value of $1,109.50 per ounce. $575M/1109.50= 518,251 ounces of gold (rounded down).

Now, lets assume gold will keep going up in value, and in 10 years will be (mildly) $500 more an ounce ((it's doubled in value in 10 years, and 2016 wasn't the highest peak)). So: 518,251 * 1609.50 = $834,124,984.50 in 10 years. Assuming you kept $25M as "living cushion money", just from the $575M investment alone, you're already pretty close to the annuity in 1/3 of the time.
 
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Muadeeb

Muadeeb

Nissan al Gaib
Admin
Location
Dallas
Take the payout into a trust. The trust can change trustees and the payouts keep going into it. I'd do that for any lottery winnings since you're only FDIC insured to 100,000 across ALL accounts
 
Pro-2X

Pro-2X

Suspension Lift
Location
Rockmart, GA
Bought some already, going to buy some in Michigan and Ohio too. Just to spread it out a bit.

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Pro-2X

Pro-2X

Suspension Lift
Location
Rockmart, GA
I don't think people really fathom the numbers here. If I were to win this, there is no way I would buy a house or anything. I would love traveling around. Not even wash clothes, just replace them when need be. Would not be interested in saving or investing. There is no way I would ever spend through that in my lifetime. HUGE NUMBERS.

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