It's also crazy easy to earn money off of money when you have that much. Lump sum all the way.
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No winner yet, Powerball at $675 Million biggest in U.S History
- Thread starter Armadilo
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It's also crazy easy to earn money off of money when you have that much. Lump sum all the way.
Or maybe every lottery winner who ever lived is a secret time traveler.
I'd give everyone a mil and tell them to chill. Immediate family that is like 10million.
Then I would get one of these bad ass unimog campers and get the fuck off the grid!
LyleLanley
Banned
That's why you change your phone number and move somewhere without telling anyone.
Because only suckers take the yearly payments. That and if I'm getting roughly 24 million a year there's a good chance I'll be dead before I get all the money anyways.
PreFire
Member
I thought the jackpot gets reset if no one wins after it gets this high. Probably wrong though. It would be a pretty shitty thing to do
Funny thing is, when someone finally hits, they won't be alone. They're gonna have to split the jackpot, give away 50% in taxes and stay with the rest. $10
Seriously though. No one is winning all this time, and when the winner is called, 20 different people from around the USA will have winning tickets they have to split.
Also, I'm tired of buying quick picks. I feel like the numbers are purposely dodged lol
Good luck to everyone !
Funny thing is, when someone finally hits, they won't be alone. They're gonna have to split the jackpot, give away 50% in taxes and stay with the rest. $10
Seriously though. No one is winning all this time, and when the winner is called, 20 different people from around the USA will have winning tickets they have to split.
Also, I'm tired of buying quick picks. I feel like the numbers are purposely dodged lol
Good luck to everyone !
Anoregon
The flight plan I just filed with the agency list me, my men, Dr. Pavel here. But only one of you!
Because you still get over 100 million with large jackpots and that's just about enough money.
Hip Hop
Member
My reason would be, how would I know for certain that my money is guaranteed years or so from now? What if something changes? What if I die before?
I'd rather not wait, however small the chance of it not coming back to me with payments would be.
I think the general consensus is that you'd likely be more successful at investing the lump sum and getting a higher return over 30 years than the government would be...
AliasGreed
Member
If you fear your own stupidity you can take the annuity. That way you won't risk running out of money but you risk the goverment not being able to pay you though.
BladeoftheImmortal
Member
But most winners end up poor and destitute.
It looks like that simulator is out of date. I think there are more white balls now and less power balls.
Either way, I bought two powerballs and two mega millions since I was pumping gas anyways.
It is. The odds of a jackpot are now 1 in 292,201,338 as opposed to 1 in 175,223,510.
The irony.
I don't know though. I'm 33, and I gotta be honest the temptation of getting a lump sum of $300M or annuities totaling $560M has me leaning toward the payments. What would I need to buy at any given time that $18M a year couldn't cover...
sixteen-bit
Member
kinda morbid but what if u die at like, 35? enjoy the lump sum
ElectricBlanketFire
Member
I ah...I really hope I win this.
Then I would have had $36M to enjoy and the trust I setup would pass on the annuity to my children.
BladeoftheImmortal
Member
I've always wondered, being from Alabama, what would happen if I won with my ticket? Can you still collect? Would my state take taxes from me for winning?
No doubt there's some people who'd be much better off taking the annuity rather than all at once. And then there's the matter of the state tax too - might be better for someone living in NY for example to just take the state tax hit on the first annuity rather than the entire lump sum, and then move to a state that has no state tax.
Isn't the state tax determined by the state where the ticket was bought from?
AbortedWalrusFetus
Member
My office did a $5 per person pool.
You sort of have to go in on your office pool, you know? You don't want to be the guy that is left out when everyone around you wins millions of dollars.
You sort of have to go in on your office pool, you know? You don't want to be the guy that is left out when everyone around you wins millions of dollars.
I don't think you can pass it on. Thats why people go with the lump.
Would pretty much have to quit your job. The opposite of winning the lottery.
LyleLanley
Banned
That would be such an awful feeling.
Yes you can. You establish a trust that the payments are made too. The trusts survives, even if you don't, and different people can be empowered at different times based on age, inheritency etc.
How do people feel about playing both in a pool and alone? Any worry about backlash from the office pool if you win on a "solo" ticket?
LyleLanley
Banned
I'd feel fine about it as long as you weren't the one to physically purchase the office tickets. Also, you'll never have to see them again so who cares?
AbortedWalrusFetus
Member
That's where I am at. The person who purchases the office pool tickets can't play solo, but anyone else can.
I mean, they could play solo if they like scanned the tickets and emailed them to everyone in the pool or something, so people would know which numbers were pool numbers and there wouldn't be questions, but that would be the only way.
It'd be a shitstorm either way and someone would sue.
I've been playing for 135 years and I've only even won $100 twice.
Ol No Bones
Banned
I would get the lump and make a shit ton of low risk investments with decent yields. You can just print money with reasonable investments. It takes a special kind of person to blow hundreds of millions. Just be reasonable. Life is about far more than buying stuff.
I have a hard time figuring how someone could blow through so much in such a small amount of time.
LyleLanley
Banned
Expensive property and boats would be a pretty easy way to blow through a huge chunk of cash fairly quick. That's before you get into giving people money and/or drugs.
AbortedWalrusFetus
Member
You give your brother-in-law Paulie a power of attorney and he invests it all in a bad real estate scam and loses it all. Then you have to re-enter the world of boxing, even though you have brain damage, so that you can support your wife and child.
backflip10019
Member
I mean the average return on mutual funds each year hovers around 7%, so with 100MM in the bank, you could net up to 7MM per year, which is far more than you need to live extravagantly on per year.
Shit! After I bought him that robot for his birthday!
Perfect! No need to really even spend the winnings.
True Savior
Member
Ol No Bones
Banned
Yeah but even if you are buying a shit ton of property and boats with cash those assets can be worth something. I'm not saying it's a wise investment necessarily but you can turn a lot of that back into cash if you run out. I could see idiots blowing a million but over a 100? That's a special kind of stupid.
I already linked to it, but Jack Whittaker's life after winning is a pretty harrowing read. I mean I doubt he's even close to bankruptcy or anything, but the win still managed to ruin his life in other ways.
who knows how much of that is related to the lottery though, other than the plot to rob him
after all, he was already rich before the lottery
LyleLanley
Banned
I'm convinced that a lot of Jacks problems could've been solved had he moved away from West Virginia. $83,000,000 is a huge amount of money but if he moved to New York City or a place like it he would've just been another rich guy.
It is usually because they blow it on stuff that has high upkeep costs. Expensive houses in various locations (+ hidden expensive upkeep costs), expensive cars, boats, planes (+ hidden expensive upkeep costs). That and just blindly giving it to family/friends...then taxes and lawsuits... I guess. I have a hard time understanding it as well.
Ol No Bones
Banned
So the moral of the story is
1. Don't take 1/2million dollar bags of cash to strip clubs
2. Don't write bad checks to casinos
3. Don't develop drug problems
4. Don't be stupid
blame space
Banned
just bought 2 tickets wish me luck guys!
Ol No Bones
Banned
Why would we wish you luck?
you messed up...that 3rd one woulda been a winner
Ol No Bones
Banned
If anyone hasn't bought tickets I want all the luck exclusively wished towards me. If you bought a ticket you can keep your own damn luck.
Sounds to me like he had troubles before winning and was also incredibly stupid about the whole process. C'mon, let's bring hundreds of thousands of dollars to a strip club parking lot. Hey, after it gets robbed, I'll do it again!
aspiegamer
Member
Up to $800M! Don't think we'll get to $1B in time, but at some point in the future we'll get a 10-figure jackpot. If somehow no one wins this on Saturday-- And there's always some chance of this unless absolutely every single number combination is bought up-- It'll explode far, far over.
Ol No Bones
Banned
After taxes how much would the cash out option be in reality?
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