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Mega Millions lottery jackpot to be a quarter-billion for Friday

Topic closed. 51 replies. Last post 11 years ago by CASH Only.

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United States
Member #3291
January 8, 2004
71 Posts
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Posted: September 14, 2005, 10:38 pm - IP Logged
omg a 50,000,000 jump!
thats so many zeros.
they must have sold over 100,000,000 tickets.
damn thats even more zeros!

<Shameless self promotion :)>. Want to get an Edge in Mega Millions ? Try Mega Lotto Assistant. Coded by yours truly. </Shameless self promotion>

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    Portland
    United States
    Member #7262
    September 27, 2004
    111 Posts
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    Posted: September 14, 2005, 11:29 pm - IP Logged

    You all look so exciting ...making me  feel my part so small Dead. I just have three combinations for this big competition!

    Good luck to you all !!!See Ya!

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      Sparta, NJ
      United States
      Member #18331
      July 9, 2005
      1977 Posts
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      Posted: September 14, 2005, 11:34 pm - IP Logged

      Don't forget, Friday is also Euro Millions for $94M cash - no tax.  Not bad for second place! I've spread my money this time around.

      Cheers

      |||::> *'`*:-.,_,.-:*''*:--->>> Chewie  <<<---.*''*:-.,_,.-:*''* <:::|||

      I only trust myself - and that's a questionable choice

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        Greenwich, CT
        United States
        Member #4793
        May 24, 2004
        1822 Posts
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        Posted: September 14, 2005, 11:34 pm - IP Logged

        mega millions only went up 20%.........

        i have a history of mega goes above $125, it starts climbing 30% higher ......................

        gas price must be cause it period.......................

        It went up 25% this past draw.

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          Sparta, NJ
          United States
          Member #18331
          July 9, 2005
          1977 Posts
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          Posted: September 14, 2005, 11:42 pm - IP Logged

          Even though New Jersey asks you to select cash or annuity when buying tickets, you can always change your mind afterwards and select whatever you want.

          Hum ... are you sure? Wonder why they would force a mandatory selection, and then say they were only kidding, choose which ever you want later. Does that apply to Pick 6 also?

           

          Cheers

          |||::> *'`*:-.,_,.-:*''*:--->>> Chewie  <<<---.*''*:-.,_,.-:*''* <:::|||

          I only trust myself - and that's a questionable choice

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            Louisville, KY
            United States
            Member #15734
            May 20, 2005
            203 Posts
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            Posted: September 15, 2005, 5:09 am - IP Logged

            Even though New Jersey asks you to select cash or annuity when buying tickets, you can always change your mind afterwards and select whatever you want.

            Hum ... are you sure? Wonder why they would force a mandatory selection, and then say they were only kidding, choose which ever you want later. Does that apply to Pick 6 also?

             

            I think the reason is is that some IRS bureaucrat wants to know what you are planning on doing with it. We used to have to do that here in Michigan, but they got rid of that a few years ago. It applies to basically anything where you have a payout option (CVO/Annuity). IRS guidelines (and most lotteries) say you have 60 days from the claim date to "make up your mind." If you do not select an option in that time frame, you automatically receive annuity. You must ASK for the CO at the lottery center when claiming your prize. I guess to re-affirm that you actually want what you say you want. What?

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              Louisville, KY
              United States
              Member #15734
              May 20, 2005
              203 Posts
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              Posted: September 15, 2005, 5:20 am - IP Logged
              omg a 50,000,000 jump!
              thats so many zeros.
              they must have sold over 100,000,000 tickets.
              damn thats even more zeros!

              When it rolled to $363 in '00 it was a $75m jump from the previous draw. It was at $225M, upped to $250M on drawing day, then when no one hit, upped $75,000,000 to $325M, and then re-upped to $350 before topping out at $363M. I remember working the lotto terminal on May 9, too.... we had 4 tornadoes come within 1500 feet of our store... one of our entrances was completely obliterated, but the rest of the store was OK, along with everyone inside (we all ran for shelter in the back). As soon as the all-clear was given (9:45pm), I went back to the cash office to get my drawer, and promptly returned to the terminal, where I ALREADY HAD A LINE 75 PEOPLE LONG. This was in a span of 5 minutes. Shows you how die-hard some people are for a big JP.

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                MI
                United States
                Member #20229
                August 14, 2005
                59 Posts
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                Posted: September 15, 2005, 7:27 am - IP Logged

                Call me crazy, but I think $6.8 million per year (after taxes in Michigan) is enough to make me happy. And the bonus is that I get the security of knowing that I will get that amount every year for the next 26 years. Sure I could take the $108 mil now, but what if I make bad investments? I know nothing about the financial markets, and I don't know anyone who does, so any financial advisor or stockbroker I hire could be out for his or her own gain and there to screw me over, so I might not even reach the total of $177 mil guaranteed after the 26 years of annuity payments.

                Also, it may be difficult to waste $108 million, but not impossible. With $6.8 per year, I know I can't get too carried away with my spending. Cash option assumes every penny will be invested and none spent, and that the player is too old to survive 26 years. Just my opinion.

                There was a time in Michigan that Lottery winnings were not taxed, then the state changed their mind and all past winners getting annuties had to pay. That is why I would not take an annuity. The government (state, local or Federal) could change the tax rate on winnings and you could be out many millions more.

                If I won this kind of money, I would hire a team of CPA's, lawyers and financial planners with the understanding that they would be audited by a different, independent CPA every year. As Ronald Reagan said "Trust but verify"

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                  United States
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                  December 30, 2002
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                  Posted: September 15, 2005, 10:00 am - IP Logged

                  > The government (state, local or Federal) could change the tax rate on winnings and you could be out many millions more.

                  Yes, for this reason and other reasons I would take the cash. Even if it is proven I would make more with the annuity, this would make it a one time dealing with the state and fed/state taxes, then I would be free.

                  Just for fun, if you had the $107 million cash after taxes and put $57 million of that in a vault as cash and invested $50 million at 3.3% (the current ING direct savings account interest rate), you would make $137,000 a month off of less than half your fortune. You could live the good life and not have to touch a penny of your $107 million. Pretty incredible.  

                   

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                    Sparta, NJ
                    United States
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                    July 9, 2005
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                    Posted: September 15, 2005, 10:39 am - IP Logged

                    Don't forget that $137K is highly taxable. Like the "sin tax" every politican in the country is trying to figure out how to tax the rich for maximum amount they can. The top 50% of "Wage Earners" (that be you if you win) pay 96.03% of Income Taxes.  Not that you will be paying 96.03%, but your financial category is the number one target.

                    Cheers

                    |||::> *'`*:-.,_,.-:*''*:--->>> Chewie  <<<---.*''*:-.,_,.-:*''* <:::|||

                    I only trust myself - and that's a questionable choice

                      mken32's avatar - Lottery-062.jpg
                      I dont know where
                      United States
                      Member #1702
                      June 18, 2003
                      103 Posts
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                      Posted: September 15, 2005, 12:21 pm - IP Logged

                      Man you guys are amazing with all of your stat's, if you hit the big one (Jackpot) would continue doing this or would disappear off the face of the earth?

                       

                      Mken32Smile

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                        Louisville, KY
                        United States
                        Member #15734
                        May 20, 2005
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                        Posted: September 15, 2005, 2:36 pm - IP Logged

                        I would PROUDLY announce my win here, and then after that, promptly disappear off of the face of the earth.  Thud

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                          Greenwich, CT
                          United States
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                          May 24, 2004
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                          Posted: September 15, 2005, 2:46 pm - IP Logged

                          I don't know if you could show your face at lotterypost without being deluged by private messages!

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                            Atlanta
                            United States
                            Member #15989
                            May 24, 2005
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                            Posted: September 15, 2005, 2:55 pm - IP Logged

                            Hey Jag, You could probably have Todd disengage your private message inbox, or, just choose not to look at it and post what you want to everyone, not individuals.

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                              Magnolia, Delaware
                              United States
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                              July 20, 2005
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                              Posted: September 15, 2005, 3:42 pm - IP Logged

                              I agree with NoCompLotto with one exception, I'd post here once a month where I had just been and NEVER open my private message in box! Cheers

                              Keep dreaming the impossible dream, it just may come true! Thumbs Up