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$1000 a week for life? So what

Topic closed. 35 replies. Last post 5 years ago by psykomo.

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lottocalgal's avatar - Lottery-043.jpg
CA
United States
Member #57222
December 23, 2007
587 Posts
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Posted: September 5, 2009, 10:41 am - IP Logged

Before I get started folks- please remember that I am from California so please be kind.  But.....

I watched this week's "the lottery changed my life" and  the thousand dollars a week doesnt seem like alot of money in terms of a lottery win  when you factor in the taxes and fees that come into play; especially if they take half.   Or maybe  later on for a retired person who doesnt have a high mortgage   payment or something but  you cant actually go out and buy a new house or car or take that big vacation like a normal lottery win.

What am i missing?  Do you get the money in a yearly sum and not really "weekly?"

    Sherita's avatar - Lottery-043.jpg
    Vtracs is My Game!
    Georgia
    United States
    Member #3617
    February 6, 2004
    6864 Posts
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    Posted: September 5, 2009, 10:50 am - IP Logged

    Before I get started folks- please remember that I am from California so please be kind.  But.....

    I watched this week's "the lottery changed my life" and  the thousand dollars a week doesnt seem like alot of money in terms of a lottery win  when you factor in the taxes and fees that come into play; especially if they take half.   Or maybe  later on for a retired person who doesnt have a high mortgage   payment or something but  you cant actually go out and buy a new house or car or take that big vacation like a normal lottery win.

    What am i missing?  Do you get the money in a yearly sum and not really "weekly?"

    Here in Ga, it is $52,000 per year in a lumpsum, before taxes, for life. I watched the show too and what amazed me is that they were allowed to add the minor child so that she would continue to receive the money even if something happens to them.

    Congrats To All Winners and Posters!

    LurkingWe are all in it to win!  My Pet numbers 103,724,152,397,189,118.

    Hot-Due-Cold. Most Due. Most Frequent. Sums, Short Sums/Last Digit Sum. Pairs. Vtracs. Vtrac Pairs. SUM OF VTRACS CHART.

    Don't forget to FLIP 6/9 in all WORKOUTS!  66=99=69. MOST POPULAR VTRACS SUMS ARE 7,8,9,10,11.VTRACS WORK IN ALL STATES!

      tiggs95's avatar - Lottery-036.jpg

      United States
      Member #47420
      November 4, 2006
      3930 Posts
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      Posted: September 5, 2009, 10:55 am - IP Logged

      What I understand is you get payments every 4 months at least that's what I've read here in Ky..

        Sherita's avatar - Lottery-043.jpg
        Vtracs is My Game!
        Georgia
        United States
        Member #3617
        February 6, 2004
        6864 Posts
        Offline
        Posted: September 5, 2009, 10:56 am - IP Logged

        What I understand is you get payments every 4 months at least that's what I've read here in Ky..

        It varies from state to state.....

        Congrats To All Winners and Posters!

        LurkingWe are all in it to win!  My Pet numbers 103,724,152,397,189,118.

        Hot-Due-Cold. Most Due. Most Frequent. Sums, Short Sums/Last Digit Sum. Pairs. Vtracs. Vtrac Pairs. SUM OF VTRACS CHART.

        Don't forget to FLIP 6/9 in all WORKOUTS!  66=99=69. MOST POPULAR VTRACS SUMS ARE 7,8,9,10,11.VTRACS WORK IN ALL STATES!

          lottocalgal's avatar - Lottery-043.jpg
          CA
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          Member #57222
          December 23, 2007
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          Posted: September 5, 2009, 10:59 am - IP Logged

          It varies from state to state.....

          But it seems that kind of money would have to be saved up in order to make a difference.    Especially if it taxed.  It would be like having a decent paying job.  Of course if I won it, I wouldnt turn it down  but...I don't know.

            ca-dreamin*'s avatar - Lottery-065.jpg
            Chicago
            United States
            Member #70678
            February 8, 2009
            889 Posts
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            Posted: September 5, 2009, 11:27 am - IP Logged

            So what.....hmmmm. An extra 4,000 a month would definitely change my life for the better. I have a decent paying job......I make over 26 dollars an hour and even if I work my day off every week at time and a half my take home pay is still less than $4,000 a month.

            And the lottery isn't going to take half of it....I think your confusing  a thousand a week for life with the difference in taking a lump sum vs an annuity on the bigger games. It will put you in a higher tax bracket but so what....you're still money ahead.

              meriwetherman's avatar - azural
              gay,ga
              United States
              Member #68810
              December 30, 2008
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              Posted: September 5, 2009, 11:33 am - IP Logged

              One thousand bucks a week..........that's rather sweet for doing nothing I would think. I wouldn't complain by any means! Take it and run...........

              and then buy some tickets for mega Millions, win and we won't hear you complain then!

                Avatar
                Kentucky
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                February 14, 2006
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                Posted: September 5, 2009, 11:43 am - IP Logged

                It varies from state to state.....

                I believe tiggs95 was talking about Win For Life that is played in Kentucky, Georgia, and Virginia and each state pays off in quarterly payments of $13,000.

                  thor's avatar - thor
                  Deep in the Woods of Texas
                  United States
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                  December 22, 2008
                  328 Posts
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                  Posted: September 5, 2009, 1:53 pm - IP Logged

                  in Texas, we have scratch-offs where you can win $500 or $1,000 per week for 20 years and i also believe there's one where you win $10,000 per month.

                  with a little common sense and financial strategy, one should be able to live very comfortably, give plenty, and save for your children with this. of course one would want to keep working too, instead of working another 20 though, i think 10 years would be my max.

                  i have no doubt that $1,000 weekly would be plenty for me to share.

                  "Success usually comes to those who are too busy to be looking for it"

                  by: Henry David Thoreau

                    Dollar419's avatar - Lottery-050.jpg
                    Santa Ana
                    United States
                    Member #71159
                    February 20, 2009
                    651 Posts
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                    Posted: September 5, 2009, 2:07 pm - IP Logged

                    With this crazy economy and a lot of people out of work, a $1,000 a week despite the taxes and fees being taken out is nothing to sneeze at; it is a hugh blessing to receive by just playing the lottery and that winner

                    is grateful in receiving it.  Whether the winner is retired or not and doesn't perhaps have a high mortage payment, this win

                    may have help saved their mortgage payment, several medical expenses, taken a well-deserve vacation and repair a car, etc.  Just let them bask in the glow of winning--THIS WIN DID CHANGE THEIR LIFE!!

                      Avatar

                      United States
                      Member #61232
                      May 16, 2008
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                      Posted: September 5, 2009, 2:10 pm - IP Logged

                      Before I get started folks- please remember that I am from California so please be kind.  But.....

                      I watched this week's "the lottery changed my life" and  the thousand dollars a week doesnt seem like alot of money in terms of a lottery win  when you factor in the taxes and fees that come into play; especially if they take half.   Or maybe  later on for a retired person who doesnt have a high mortgage   payment or something but  you cant actually go out and buy a new house or car or take that big vacation like a normal lottery win.

                      What am i missing?  Do you get the money in a yearly sum and not really "weekly?"

                      They wouldn't take half.  $52,000/year doesn't put you anywhere near that tax bracket.

                        Sherita's avatar - Lottery-043.jpg
                        Vtracs is My Game!
                        Georgia
                        United States
                        Member #3617
                        February 6, 2004
                        6864 Posts
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                        Posted: September 5, 2009, 2:17 pm - IP Logged

                        I believe tiggs95 was talking about Win For Life that is played in Kentucky, Georgia, and Virginia and each state pays off in quarterly payments of $13,000.

                        No, he or she is refering to the tv show that aired the other nite when a couple and their daughter claimed a "win for life" scratch off winner for $1,000 a week for life. You are talking about the  weekly drawing on Saturday night also called "win for life"that pays off the $13,000 in 4 installments or quarterly wherein the scratch off for the "win for life "in Ga is paid @ $52,000/annually. See the difference....

                        Congrats To All Winners and Posters!

                        LurkingWe are all in it to win!  My Pet numbers 103,724,152,397,189,118.

                        Hot-Due-Cold. Most Due. Most Frequent. Sums, Short Sums/Last Digit Sum. Pairs. Vtracs. Vtrac Pairs. SUM OF VTRACS CHART.

                        Don't forget to FLIP 6/9 in all WORKOUTS!  66=99=69. MOST POPULAR VTRACS SUMS ARE 7,8,9,10,11.VTRACS WORK IN ALL STATES!

                          JAP69's avatar - Lottery-053.jpg
                          South Carolina
                          United States
                          Member #6
                          November 4, 2001
                          8514 Posts
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                          Posted: September 5, 2009, 2:25 pm - IP Logged

                          What am i missing?

                          If you do not desire to work it is learning to live within your income level. Some people that do work and have income can not learn to live within their income level.

                          Stats hunting: Type

                            Avatar

                            United States
                            Member #67052
                            November 15, 2008
                            80 Posts
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                            Posted: September 5, 2009, 6:26 pm - IP Logged

                            That game, Win for Life, is misleading.  It's been awhile but from what I read on the Georgia website, it is payable for 20 years only.  I too, wouldn't turn it down but it is not for life of the winner. 

                             

                            I would like your opinions in Lottery Land please.

                              Sherita's avatar - Lottery-043.jpg
                              Vtracs is My Game!
                              Georgia
                              United States
                              Member #3617
                              February 6, 2004
                              6864 Posts
                              Offline
                              Posted: September 5, 2009, 6:35 pm - IP Logged

                              That game, Win for Life, is misleading.  It's been awhile but from what I read on the Georgia website, it is payable for 20 years only.  I too, wouldn't turn it down but it is not for life of the winner. 

                               

                              I would like your opinions in Lottery Land please.

                              Ga lottery website states for a "minimum' of 10 years. Where did you see 20 years only?

                              Congrats To All Winners and Posters!

                              LurkingWe are all in it to win!  My Pet numbers 103,724,152,397,189,118.

                              Hot-Due-Cold. Most Due. Most Frequent. Sums, Short Sums/Last Digit Sum. Pairs. Vtracs. Vtrac Pairs. SUM OF VTRACS CHART.

                              Don't forget to FLIP 6/9 in all WORKOUTS!  66=99=69. MOST POPULAR VTRACS SUMS ARE 7,8,9,10,11.VTRACS WORK IN ALL STATES!