Mega Millions $252,000,000.00Prev Topic Next Topic

New Topic New Poll

music*

Fresno, California
United States
Member #157,849
August 2, 2014
3,959 Posts
Offline

Sep 18, 2018, 8:51 am

There are new Lottery Post Members who have never discussed their plans after winning.

What will you do after you match your numbers with the MM draw numbers?

Will you be able to sleep afterward? Do you have a plan to keep the ticket safe?

Did you win with Quick Picks or Self Picks?

This is a lot of money. Are you prepared to invest it?

Will you do the press conference?

Anything else?

"We are all in this together!"
tnlottodreamer

Tennessee
United States
Member #59,919
March 31, 2008
305 Posts
Offline

Sep 18, 2018, 11:33 am

I would take it over the 30 years. That is too much money at once. I would not invest because I would already be rich.

*** You Can't Win, If You Don't Enter***
music*

Fresno, California
United States
Member #157,849
August 2, 2014
3,959 Posts
Offline

Sep 18, 2018, 1:58 pm

Quote: Originally posted by tnlottodreamer on Sep 18, 2018
I would take it over the 30 years. That is too much money at once. I would not invest because I would already be rich.

tnlottodreamer, I did the calculations for the first year's check here in California. With 29 more checks to go. Increasing each year by about 5%. I use USAMEGA.com

The first year which is soon after you claim the prize the check will be for $2,389,566.20

Can you live on a budget? Have you heard of Dave Ramsey? He is a radio personality here in East Tennessee. He may help you create a budget.

I will invest my Lump Sum. I will budget $4.5 million per year.

Have you heard of Financial Engines.com? They will help me invest in mutual funds and exchange-traded funds. Single stocks are too risky for me at my age. I will spread my investments among a multitude of mutual funds.

My charities will be local with a couple of national ones. My budget will tell me how much I can give.

Good Luck!

"We are all in this together!"
music*

Fresno, California
United States
Member #157,849
August 2, 2014
3,959 Posts
Offline

Sep 19, 2018, 1:49 pm

Well, the Megamillions jackpot is now $275,000,000.00 Annuity. The cash lump sum is $161,000,000.00

The following States do not tax lottery winnings: California, Florida, South Dakota, Tennessee, Texas, Washington, and Wyoming. I give credit to USAMEGA for this information.

I am in California and will receive $101,430,000.00 after all taxes are paid.

For a winner in one of the above mentioned States, the first year of the Annuity will be worth $4,140,000.00

My age and health will be factors in my decision to take the Lump Sum. I hope to invest wisely.

Real Estate. Mutual Funds. CDARS, ICS.

If you are young than investing in Stocks could be the right choice because you have the time to recover from a downturn in the Market or specific stock.

Warren Buffet predicts that the Dow will reach 1,000,000 in the next 100 years. He is bullish on America.

"We are all in this together!"
CDanaT

Central TN
United States
Member #121,187
January 4, 2012
7,809 Posts
Offline

Sep 19, 2018, 2:24 pm

CASH Rules --- Annuities are for fools

Si vis pacem, para bellum.
OldSchoolPa

Gurnee, Illinois
United States
Member #49,729
February 12, 2007
951 Posts
Offline

Sep 19, 2018, 5:31 pm

Be sure to call me when you win.

Personally, I would take it lump sum so that I don't have to worry about any onerous changes in the tax law. I also would be able to run calculation to determine if I can achieve same result with my own investment strategy.

Get MONEY!!! Winning a JACKPOT lottery is one MIRACLE I desire for 2019!!! NOW come to my subconscious mind you 6 winning numbers!
music*

Fresno, California
United States
Member #157,849
August 2, 2014
3,959 Posts
Offline

Sep 19, 2018, 5:36 pm

Quote: Originally posted by CDanaT on Sep 19, 2018
CASH Rules --- Annuities are for fools

CDanaT, I do not understand why you lump everyone together. We are individuals. Each person is unique.

Do you know that the word "Annuities" is not the correct word? Annuities are insurance contracts.

This thirty-year payment plan consists of Government bonds. Not State bonds here in CA.

I like those naughty eyebrows on that icon. Groucho Marx maybe?

"We are all in this together!"
music*

Fresno, California
United States
Member #157,849
August 2, 2014
3,959 Posts
Offline

Sep 19, 2018, 5:39 pm

Quote: Originally posted by OldSchoolPa on Sep 19, 2018
Be sure to call me when you win.

Personally, I would take it lump sum so that I don't have to worry about any onerous changes in the tax law. I also would be able to run calculation to determine if I can achieve same result with my own investment strategy.

Who do you want to call you?

I agree with your view on tax law. I hope you have experience with investments.

"We are all in this together!"
Coin Toss

Zeta Reticuli Star System
United States
Member #30,469
January 17, 2006
11,794 Posts
Offline

Sep 19, 2018, 7:18 pm

music,

I forget who but a poster here used to have a sig:

You can always buy a better annuity

I'm guessing that is very true.

I just hate the thought of a jackpot winner having every good intention and reason for go8ing the annuity route and then some unforeseen thing happening and their jackpot annuity winds up with one of those "structured settlement" companies ans the jackpot winner get a dime on a dollar.

Those who run the lotteries love it when players look for consistency in something that's designed not to have any. So many systems, so many theories, so few jackpot winners.

There is one and only one 'proven' system, and that is to book the action. No matter the game, let the players pick their own losers.
lejardin

United States
Member #118,604
November 4, 2011
1,443 Posts
Offline

Sep 19, 2018, 7:36 pm

Cash, trust no one and live as normal a life as possible.
CDanaT

Central TN
United States
Member #121,187
January 4, 2012
7,809 Posts
Offline

Sep 19, 2018, 7:42 pm

Quote: Originally posted by music* on Sep 19, 2018
CDanaT, I do not understand why you lump everyone together. We are individuals. Each person is unique.

Do you know that the word "Annuities" is not the correct word? Annuities are insurance contracts.

This thirty-year payment plan consists of Government bonds. Not State bonds here in CA.

I like those naughty eyebrows on that icon. Groucho Marx maybe?

Now Music, you know that the term annuity is used for winning the PB & MM & other games jackpot grand prize and taking the 30 payments.... I just made it plural for all games inclusive. BTW annuities is plural for annuity which in definition means the sum of money payable yearly or at other regular intervals. https://www.merriam-webster.com/dictionary/annuities (No mention of it being referred to insurance contracts only) I could be wrong...BUT,if that is upsetting Feel free to drop a PM.... Taking a chance on the future income tax rates in 2025, 2035, 2045 would be bucking the tradition that governments wont raise income tax within the next 29 remaining payments. We know that eventually there be a certain group (that loves raising taxes) and they will be in charge again long before the annuity pays your last payment. When they do get back in charge, you KNOW the 37% figure is going up.... Yes I am aware of LBJ's tax cut in 1964 that cut the top rate from 91 down to 70% then fast forward to Reagan's cuts in the 80s bringing the top rate of 70% down to 28%. That being said, we have never seen 28% in the last 1/3rd of a century(since lotteries started evolving on a consistent basis).. Also if you look at the PB or MM over the last 100 grand prize winners, I don't think you will find 3 folks that took the annuity of either lottery.. Plus talking with a professionals who I know invest for a living all say the same thing. " Don't be foolish, take the cash and pay your taxes now, where you know exactly what they are"

Besides, with the socialism push as of late, I definitely don't want any of that idea possibly getting a hold of any future annuity payments from a lottery.... Just my 2 pennies (yeup it does look like groucho)

Si vis pacem, para bellum.
mikeintexas

Texas Panhandle
United States
Member #136,837
December 20, 2012
1,660 Posts
Offline

Sep 19, 2018, 10:07 pm

Them's my sentiments 'zactly, CT. (in regards to higher taxes in the future) Ya never know.

Not sure why anyone over the age of 40 would take the annuity, but to each his/her own, I guess. My problem with the annuity schedule is not so much my dying before it's paid out, but that it's tremendously back loaded. As per the Texas annuity schedule, the first payment is $4,139,145 (before taxes) and the final one is $17,037,281. Why, you don't hit a ten million dollar payment until year 20.

I hope I could live another 29 yrs. but....Even if I did, I probably wouldn't remember how to endorse the check, must less why I was getting it.

Epstein didn't kill himself.
mikeintexas

Texas Panhandle
United States
Member #136,837
December 20, 2012
1,660 Posts
Offline

Sep 19, 2018, 10:08 pm

Quote: Originally posted by lejardin on Sep 19, 2018
Cash, trust no one and live as normal a life as possible.

^This^

Epstein didn't kill himself.
amber124

United States
Member #188,740
March 22, 2018
172 Posts
Offline

Sep 19, 2018, 10:20 pm

Quote: Originally posted by music* on Sep 18, 2018
There are new Lottery Post Members who have never discussed their plans after winning.

What will you do after you match your numbers with the MM draw numbers?

Will you be able to sleep afterward? Do you have a plan to keep the ticket safe?

Did you win with Quick Picks or Self Picks?

This is a lot of money. Are you prepared to invest it?

Will you do the press conference?

Anything else?

You make it sound as if it's an inevitable event...
Stack47

Kentucky
United States
Member #32,651
February 14, 2006
10,314 Posts
Offline

Sep 19, 2018, 10:27 pm

Quote: Originally posted by amber124 on Sep 19, 2018
You make it sound as if it's an inevitable event...

To the point they are arguing over which payout is best....

New Topic New Poll

Subscribe to this topic

Mega Millions $252,000,000.00Prev TopicNext Topic

Mega Millions $252,000,000.00Prev Topic Next Topic