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New Jersey Couple are Lottery Mega Millionaires

Topic closed. 30 replies. Last post 11 years ago by CASH Only.

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September 11, 2005
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Posted: September 23, 2005, 9:29 pm - IP Logged

They only play when the pot is OVER 100m ?  WHAT INGRATES !!!  If EVERYONE waited for the pot to reach a "DECENT" level.... the pot would NEVER reach a decent level !!!

Furthermore, I doubt these old fogeys will live long enough to burn through the cash so why not take the annunity and leave a legacy for the greater good.  There is certanly more than enough suffering going around in the world today not to mention our own gulf coast.

Anyone and I do mean ANYONE of ANY AGE who goes for FAST cash thereby giving up 1/2 of what could and SHOULD be a philanthropic legacy is an INGRATE !!!!

I promise you the TAKING the cash will NEVER make you happy, However, GIVING  and SHARING to others because you are CAREING will.

Cash is for LOSERS...Annuities are for LOVERS !!!!!!!

 

 

    MADDOG10's avatar - smoke
    Beautiful Florida
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    Posted: September 23, 2005, 9:48 pm - IP Logged

    They only play when the pot is OVER 100m ?  WHAT INGRATES !!!  If EVERYONE waited for the pot to reach a "DECENT" level.... the pot would NEVER reach a decent level !!!

    Furthermore, I doubt these old fogeys will live long enough to burn through the cash so why not take the annunity and leave a legacy for the greater good.  There is certanly more than enough suffering going around in the world today not to mention our own gulf coast.

    Anyone and I do mean ANYONE of ANY AGE who goes for FAST cash thereby giving up 1/2 of what could and SHOULD be a philanthropic legacy is an INGRATE !!!!

    I promise you the TAKING the cash will NEVER make you happy, However, GIVING  and SHARING to others because you are CAREING will.

    Cash is for LOSERS...Annuities are for LOVERS !!!!!!!

     

     

    I do believe these folks can pretty much do what they want without your input. Middle aged would be suffice, not old fogies. I myself would take the cash option because you can get better interest if invested right. if your views are that much different than theirs so be it, they won and you did'nt...!

                                                 

                                                   "  When Injustice Becomes Law, Resistance Becomes Duty "

      Ladyluck2005's avatar - underground
      Denver, CO
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      April 6, 2005
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      Posted: September 23, 2005, 10:15 pm - IP Logged

      The couple said they only play when the jackpot exceeds more than $100 million.

      Sounds like a QP player.

      That's one way to keep playing affordable.  Let the regular players build up the jackpot and only play when the jackpot gets over $100M, the odds of winning are the same and the payout is better.

      I Agree! also.  I only start playing when it hits 80 or so million. 

      Congrats to the couple....may they have a LONG & happy retirement!   Cheers

      Ladyluck2005

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        Posted: September 23, 2005, 10:17 pm - IP Logged

         

        You just blew your first and BEST investment choice by taking cash.  I don't care what kind of return you THINK you will get, you will have a long way to go to MAKEup for what you just GAVEup !!!!!!

        Have you been tested for rabbies MADdog ?

          MADDOG10's avatar - smoke
          Beautiful Florida
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          Posted: September 23, 2005, 10:36 pm - IP Logged

           

          You just blew your first and BEST investment choice by taking cash.  I don't care what kind of return you THINK you will get, you will have a long way to go to MAKEup for what you just GAVEup !!!!!!

          Have you been tested for rabbies MADdog ?

          well first do the math. wiz.! if i blew my only chance tell me how much did i give up by not taking annuity?

          And to answer your question, yes i have, but the question should be have you? since you were just bitten by the Maddog.!

                                                       

                                                         "  When Injustice Becomes Law, Resistance Becomes Duty "

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            Posted: September 23, 2005, 11:15 pm - IP Logged

             

            The MADdog is really just a madDOG ...  all BARK and NO bite HA !

            Now to answer your question.  The cash option pays just over HALF of the annunity.  You are going to take a 25% Federal Tax hit (no state tax in NJ) whereas if you were SANE enough (NOT likely with rabies) to take the annuity your hit would be on each (1/30th of the total annuity) payment annually.  The purpose of ANY investment is to achieve a POSITIVE return.  So you tell me how you come out ahead by FIRST giving up almost HALF of the principal and then getting hit 25% of whats left.  Not only do you have to assume NEW RISK to get back what you just gave up at NO RISK but you WILL  BE further hit at least 25% (if not more as Capital Gains taxes RISE) every step of the way. 

            Lets examine cases.  Lets say you are just a young punk (and you probably are) of 18. If you don't blow all the cash by living stupid then you may outlive the cash just by living smart.  Lets say you are middle-age or older.  Are you so greedy and narrowminded to think that you genuinely NEED all that cash or do you just WANT it?  I am always surprised when a large IMMEDIATE family takes the cash.  Do these people think they AND their children will never grow up ?  Do these people have no concept of what it means to provide for their family and maybe others after they are gone?  Do they think they will live forever?   An annuity is a GUARANTEED return at NO RISK.  The tax DEFERRED benefit is a NO BRAINER !!!!!

            You show me a greater CASH option benefit at EQUAL or LESSER RISK and tax LIABILITY and I will invite you to infect me with the rabies that has obviously already fried your mind.

             

              catdaddy's avatar - eye2
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              brooklyn ny
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              Posted: September 23, 2005, 11:37 pm - IP Logged

              Cool when you win big do you have to go on  TV

              and have a press interviewCool

              CoolGOOD LUCK EVERY ONE

              CATDADDYCool

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                Sparta, NJ
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                Posted: September 24, 2005, 10:41 am - IP Logged

                I am confused, how can you task an immediate 50% loss on something that doesn't exist? The $258M is based on what is gonna be - someday, if the states investment works out as planned. Today, the money  IS  the cash value NOT $258M. Based on that, and an UNKNOWN tax base that no one has any control over, why does one have to make up 50% of something that is a figment of the publicist imagination.

                Cheers

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

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

                  Bradly_60's avatar - disney37
                  Atlantic Mine, Michigan
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                  Posted: September 24, 2005, 11:21 am - IP Logged

                  I agree with Chewie.  I mean right now tax rates are pretty low compared to recent history.  Take the money now and pay your taxes now.  If you take it over the next 30 years we might have taxes of 50% one day to pay down the national debt which is getting out of control.  Paying at max 35% (which you will still have to pay 10% more of your winnings to the government when it comes to tax time) is well worth it.

                  Brad

                    Todd's avatar - Cylon 2.gif
                    Chief Bottle Washer
                    New Jersey
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                    Posted: September 24, 2005, 11:40 am - IP Logged

                    Cash is king - and that couple made the right choice.  Congrats to them!

                     

                    Check the State Lottery Report Card
                    What grade did your lottery earn?

                     

                    Sign the Petition for True Lottery Drawings
                    Help eliminate computerized drawings!

                      Bradly_60's avatar - disney37
                      Atlantic Mine, Michigan
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                      Posted: September 24, 2005, 3:44 pm - IP Logged

                      All my professors at school say the same thing....CASH IS KING....and they are not dumb people.

                      Brad

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                        Blaine WA
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                        Posted: September 24, 2005, 8:05 pm - IP Logged

                        do the math you will make more money by taking the cash, plus at the end of the payment period you still have the principal intact

                         

                                                              take the cash

                        the odds do not mean much to those who win the jackpot

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                          Bethesda, Maryland
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                          Posted: September 25, 2005, 4:26 pm - IP Logged

                          HAPPY SUNDAY....9/25.....TO ALL MY BRAVE "MM" COMRADES.......4:15PM EST

                          It's very cloudy here in Bethesa,  and we have had "PROTESTS OF ALL KINDS" in the METROPOLITAN AREA..........SATURDAY & SUNDAY....as well as Festivals too.......

                          Plenty of Excitement....but I'd bet not half as much excitement as winning $$$$250.BIG ONES...

                          FANTASTIC...& again "CONGRATS"....to the winners.....

                          (BTW)...CATDADDY....in answer to your ??.....It really depends on the State you are from....

                          In Maryland.....you are not required to hold a News Conference, not even if you go into the District of columbia to play the POWERBALL...Someone who lives here in Maryland played the POWERBALL and won really big....But they were not required to do a Press Conference and never did.

                          If I were to ever win, either game....I would do the Press Conference because I am a Proud Member of the "LP".....and I don't care who knows that I won........LOLOLO.,OLOLOLOL.....

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                            Bethesda, Maryland
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                            Posted: September 25, 2005, 4:39 pm - IP Logged

                            ON THE ISSUE OF TAXES.....

                            We all know they "must be paid"......therefore, I would have my Lawyer and Financial Advisor pay off my taxes, and any outstanding bills (First) before I take my total Share.......This way I would never worry about tax issues...In fact.....I would sit with them to get all financial issues in order......

                              catdaddy's avatar - eye2
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                              brooklyn ny
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                              Posted: September 26, 2005, 8:31 am - IP Logged

                              HAPPY SUNDAY....9/25.....TO ALL MY BRAVE "MM" COMRADES.......4:15PM EST

                              It's very cloudy here in Bethesa,  and we have had "PROTESTS OF ALL KINDS" in the METROPOLITAN AREA..........SATURDAY & SUNDAY....as well as Festivals too.......

                              Plenty of Excitement....but I'd bet not half as much excitement as winning $$$$250.BIG ONES...

                              FANTASTIC...& again "CONGRATS"....to the winners.....

                              (BTW)...CATDADDY....in answer to your ??.....It really depends on the State you are from....

                              In Maryland.....you are not required to hold a News Conference, not even if you go into the District of columbia to play the POWERBALL...Someone who lives here in Maryland played the POWERBALL and won really big....But they were not required to do a Press Conference and never did.

                              If I were to ever win, either game....I would do the Press Conference because I am a Proud Member of the "LP".....and I don't care who knows that I won........LOLOLO.,OLOLOLOL.....

                              Cool Thanks for the info

                              CoolGOOD LUCK EVERY ONE

                              CATDADDYCool