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powerball 180M just a few hours away


should be interesting for a winner faced with 2 options

1. Annuity: after tax consists of 30 payments of $3,900,000 they will deduct the 27% and the winner will need to pay $480,000 each year to hit the current tax rate (will go up as the top tax rate goes up)

2. Cash: after tax one-time payment of $56,680,000 (you owe $6,976,000 during the next year in taxes and would have $56,680,000 left free and clear)

the end value of the annuity depends entirely on the tax rate, could fluctuate but will probably never dip below the current 35% (40%+ next liberal president).

If you choose the cash, where do you put it? it is a one-time wire transfer... FDIC insurance is 100k per account PER FINANCIAL INSTITUTION (100 savings accounts at the same bank don't protect you)... highest progra I have ever seen for FDIC protection is a CD-ARS account but that has a cap of $20,000,000...

wonder if that is by s.s.n. ? then a married couple could have 2 accounts at 2 different banks and get 40 million of insurance... putting the balance (16 million) into investments/real estate/municipal funds/trusts for the kids... so many options, too easy to be taken advantage of... I would definitely opt for at least one account in the CDARS format... ideally it will work by s.s.n. then I could have one, the mrs. and each of the 3 kids can have 4 mill (the trust funds) all totally protected by FDIC insurance.... sounds like a definite conversation starter if I ever need to consult a financial planner...

ah, yes but there remains that pesky detail of actually winning...

but I am at least aware of some of my options if I do... come on MUSL, let me have a shot at solving those type of problems...

Entry #114


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