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Lottery winner demonstrates the right way to claim a big jackpot
Inglewood United States Member #42199 June 22, 2006 67 Posts Offline |
| Posted: March 26, 2008, 9:03 pm - IP Logged |
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I haven't read this entire thread, but isn't there a Powerball ticket worth $95 million that hasn't been claimed? Well, I'm looking at the Powerball site right now and it lists a 97mil. dol annuity hit on Jan 16, 08 as unknown
cash value $48,478,863.05. perhaps this is the one you're referring to. Won in Louisiana!!!
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New Member United States Member #60251 March 26, 2008 2 Posts Offline |
| Posted: March 27, 2008, 9:43 am - IP Logged |
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Well, I'm looking at the Powerball site right now and it lists a 97mil. dol annuity hit on Jan 16, 08 as unknown
cash value $48,478,863.05. perhaps this is the one you're referring to. Won in Louisiana!!! That's it. So I was off by $2 million.
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Michigan United States Member #55299 August 31, 2007 302 Posts Offline |
| Posted: March 28, 2008, 7:45 pm - IP Logged |
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I haven't finished reading this topic yet and maybe someone else has said something but I had to stop and respond to this.
If you're referring to the case I think you are, you have absolutely none of the facts or the circumstances surrounding it. Feel free to do a minute's worth of research on Liebeck v. McDonald's Restaurants, P.T.S., Inc. With odds like 1 in 175,711,536 how can I lose?!
Just because you're paranoid doesn't mean they're not after you.
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Michigan United States Member #55299 August 31, 2007 302 Posts Offline |
| Posted: March 28, 2008, 8:11 pm - IP Logged |
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Probably the type of lawsuits where they hope the defendant will offer them a settlement that is less than the cost of going to court. It sounded like a frivolous lawsuit when that woman put a hot cup of coffee between her legs while driving her car so she could answer her cell phone, but look at what she got.
It said "some taxes" and the limited partnership was formed before they cashed the ticket. If Uncle Fred had a 1% share, he might not have to pay a gift tax. Ugh, I forgot to check that "quote" box before the previous post to show what/who it was directed to.. With odds like 1 in 175,711,536 how can I lose?!
Just because you're paranoid doesn't mean they're not after you.
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United States Member #61017 April 21, 2008 67 Posts Offline |
| Posted: April 24, 2008, 3:26 pm - IP Logged |
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I wonder if they took 1/3 of her winnings. exactly. I wonder if sometimes you aren't better off on your own, really.
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United States Member #61017 April 21, 2008 67 Posts Offline |
| Posted: April 24, 2008, 3:58 pm - IP Logged |
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Smart to wait and get things in order befor claiming prize. I know a lot of people who say that they would be at the lottery office the next day to claim their money (before the office is open). It would not be smart to think you can just stick all that money into a checking and savings account; that's as far as most folks assets are right now. Your money is only FDIC insured up to a max amount. Trust me, if this lady had a credit card back in college that she did not pay off, I assure you creditors will be trying to come after her some 25 yrs later trying to collect with accumulated finance charges. Never mind if they are able to collect---this is where all the frivelous law suits and other crap would come in. On another note--she is a pharmacist and she is making GOOD money---surely not living pay check to pay check. My cousin's wife, his wife's brother, his wife's sister-in-law and his wife's cousin are pharmacists and they are banking! You know, i'm glad you posted that. It never crossed my mind that even my checking account was only FDIC insured up to 100,000. What DO people do w/ all that $$$??
My aunt is a pharmacist but she's a penny pincher, outlet shops, drives a used Lexus and lives in a modest neighborhood. smart woman!!!
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United States
Member #59651
March 8, 2008
174 Posts
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| Posted: April 24, 2008, 6:45 pm - IP Logged |
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Were they really that smart?
$80,000,000 minus 25 per cent for Tax=$60,000,000
Invested at 3 per cent yields: $1,800,000 per year!
So waiting 3 months to claim the prize money cost: $450,000 Why is it that lottery winners should hide in the shadows, find strangers to evaluate how they should spend the money, and then loose the interest for the period of their worrying? How long does it take to make a decision? 30-days? 60-days? 90-days? Why so long? Isn't 30 days long enough? I think I could make initial evaluations much shorter then that. You can, and will, always change your investment posture in the future! It is not like any decision made is there in concrete, impossible to change.
Every one has to know that if you claimed the prize 10 hours after the drawing, you do NOT get the money? You can get a supplemental check for around a million, but the big money stays out of reach for around 30 days. That means you already have a full month to assemble a team and make your initial decisions! Wait 90 days to claim the prize? You still wait the additional month to get the actual transfer to your account of choice! That is 120 days. In this case, they lost - forever - a extra half-million dollars to the state. You know the state is keeping the interest for that 90 days!
No one will ever convince me to light a match to a half million dollars and say I was being smart!
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Michigan United States Member #55299 August 31, 2007 302 Posts Offline |
| Posted: April 24, 2008, 11:23 pm - IP Logged |
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3% is kind of low, safe but low. With decent investing they potentially lost a lot more than that. Just look at the commodities market these days to get at least a small idea on what kind of money could've been made in that time. *Deletes his ramblings about the price of corn.* With odds like 1 in 175,711,536 how can I lose?!
Just because you're paranoid doesn't mean they're not after you.
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