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$325 MILLION: Mega Millions lottery jackpot rolls again

Topic closed. 103 replies. Last post 7 years ago by KY Floyd.

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Piaceri's avatar - sarsony1
Republic of Texas
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Posted: August 26, 2009, 7:27 pm - IP Logged

So again :take cash ot annuity?

Kash is King  White Bounce

 

Think of all the things you could do with that cash. Family medical trust. Family education trust. Even a charity foundation. Still plenty left for that nice home sitting high on the hill overlooking the lake, some travel, and quite a bit of self indulgence at the spa. <sigh>

face

singlewinnersinglewinnersinglewinner   

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    Posted: August 26, 2009, 8:07 pm - IP Logged

    You got a couple of days to come up with some type of system, if not you can always wait for the next big jackpot.  The only bad thing about buying $100 worth of tickets is some clerks think you are a big spender who should throw some money their way and will actually ask for a tip.

    I find it doubtful they would do that to me. It's not unheard of that I could be part of a pool and I'm just playing that money from that.

     

    If someone had the nerve to ask for a tip, I would probably say something extremely smart-alecky in response.... :)

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      Posted: August 26, 2009, 8:17 pm - IP Logged

      I don't mean to be rude - but the absolute last place on earth that I would purchase a house would be NJ !

      Alot nicer places to live on about $120,000,000 in the bank !

      This poor guy needs a win and some good news !

      Dance

      Don't worry, you succeeded, but I won't hold that against you. :)

       

      You have to take into account that I've lived in NJ my entire life (and I'm 32 in a few days).

      I would only need to do it temporarily until all of my affairs are in order. I own investment property (if you want to call it that) and I would need to make sure that my tenants pay their rent to me before I ship out for good. I don't want them to think that they will live rent-free just because their home is free and clear paid off. The property taxes are practically nil, but you try being a day late on your property taxes here and watch your house be on a tax sale. My sister (the bank's mistake, not hers) had a $75 balance on her tax bill and the county was ready to evict her (that's seventy-five dollars....). Turns out it was a mistake between the bank and the town and it was taken cared of properly, but still....things get ridiculous. That's just one example. The other is a niece who's about to be a grown woman and I practically helped raise her. I'm not going to flat-out leave her because I'm rich. I want to be close by but yet far enough away.

      In any event, I'm almost ready to play Friday's numbers. Hopefully some good luck comes my way and I and all who are dear to me can be blessed.

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        Posted: August 26, 2009, 8:20 pm - IP Logged

        Kash is King  White Bounce

         

        Think of all the things you could do with that cash. Family medical trust. Family education trust. Even a charity foundation. Still plenty left for that nice home sitting high on the hill overlooking the lake, some travel, and quite a bit of self indulgence at the spa. <sigh>

        Not for nothing but won't the payout be like about $25 million a year (if not more)? Seriously, how the *bleep* can you spend $25 million a year and be broke if you never had it before? With the first annuity you can pay whatever debt you (the normal person) has and still have enough to live your wildest dreams and STILL have enough left until the subsequent year.....

         

        That's just my devil's advocate position on choosing annuity, but I wouldn't know what I'd personally do.

          CowboysFan's avatar - Cowboys
          Sunny California
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          Posted: August 26, 2009, 8:24 pm - IP Logged

          Starchild you are one lucky person. I wish I was going to be at their home opener. My friend and I have plans to go see the new stadium in September of 2010. Sorry I can't wish you luck since you are a Giants fan. But hey if I win this jackpot I'll buy a suite to the game and invite you along.

            larry3100's avatar - larry icon2.jpg
            Redwood City,California
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            February 3, 2009
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            Posted: August 26, 2009, 9:29 pm - IP Logged

            It's my turn to win the Mega Millions !. Drum

              Piaceri's avatar - sarsony1
              Republic of Texas
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              Posted: August 26, 2009, 9:47 pm - IP Logged

              Not for nothing but won't the payout be like about $25 million a year (if not more)? Seriously, how the *bleep* can you spend $25 million a year and be broke if you never had it before? With the first annuity you can pay whatever debt you (the normal person) has and still have enough to live your wildest dreams and STILL have enough left until the subsequent year.....

               

              That's just my devil's advocate position on choosing annuity, but I wouldn't know what I'd personally do.

              LOL, love Devils Advocate!

              Choosing cash over annuity has NOTHING to do with spending but everything to do with taxes and and a little bit to do with investments. I know today what the tax rate is. I know nothing of the tax rate in the future. I do not wish my once in a lifetime, life changing experience to be spread the wealth fodder for every stinking person and their dog.  If that makes me selfish, so be it. I'm a selfish bitch. Did you ever notice how those millionaires in Congress never talk about taxing wealth, but always talk about taxing high income earners?  Jackpot annuities fall in that category and will always be in that category.  Jackpot cash falls once, and only once. Earnings off that cash jackpot is icing on the cake. 

              Needless to say, I'll take care of my own immediate family first, then share with some who deserve it - based upon MY decision where to give the money, and finally I'll take care of me. The last because no one else will, you cannot rely on others to take care of you.

              face

              singlewinnersinglewinnersinglewinner   

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                Posted: August 26, 2009, 9:56 pm - IP Logged

                Not for nothing, but that made 100% perfect sense. I think I will definitely  choose cash and take the tax hit once. I can always talk to a financial planner and have some money make 3-5% like a previous poster said and live off of that. $400k a month is a lot better than the $3k (after taxes) I get now....I think i'll be ok. LOL.

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                  Milwaukee, WI
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                  Posted: August 27, 2009, 12:10 am - IP Logged

                  A rolled over Jackpot

                  325/252=This jackpot was a 29% increase

                  so next Jackpot would be 419,000,000 or more

                  264,000,000 cash..... Or more

                  Or for me in Ill.... 190,000,000 cash after taxes......

                  How would I eat next year????

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                    Milwaukee, WI
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                    Posted: August 27, 2009, 12:21 am - IP Logged

                    One of these places sounds about right for me...

                     

                    Cheyenne Canyon Ranch – 7,100 acre southern Black Hills Ranch on the Cheyenne River. 3 residences including a custom log home, numerous outbuildings. Live water, views, and wildlife. Located about 30 minutes from Hot Springs, South Dakota. $7,900,000.

                    Beaver Creek Ranch – 3,420 acre ranch in the scenic country west of Sundance, Wyoming along Interstate-90. Incredible scenery and great access. $8,500,000

                    Wonder View Ranch  – 2,486 deeded acres between Sundance, Wyoming and Devils Tower. Incredible setting in the heart of Whitetail country. $5,750,000.

                    Dutch Gulch Ranch  1,190 acres between Sundance, Wyoming and Spearfish, South Dakota on the South Redwater Creek Drainage. Visibility from Interstate 90 and just four miles from Beulah, WY. $2,970.000

                      Lytle Creek Springs - Spectacular property on the Wyoming side of the Black Hills. 319 acres in the Bear Lodge Mountains east of Devils Tower. Nearly new custom home with lots of extras. Creek, joins National Forest, wildlife, and privacy.  $1,756,000.

                    Gladson Creek Ranch - 864 acre ranch northwest of Hulett, Wyoming.  3 reservoirs, spring development and an intermittent creek.  Deer, turkeys and an occasional elk.  Scenic Black Hills setting.   $1,730,000.

                      Beaver Creek Estate – Exceptional property with 163 acres along Beaver Creek with a fishing pond, pretty scenery, a custom log home and several outbuildings. A must see. $1,550,000.

                    Buck Creek Trail Ranch – Pretty setting in the Belle Fourche River Valley north of Alva, Wyoming.163 acres with irrigated hay fields, custom home and numerous outbuildings.$1,550,000Price Reduced to  $1,300,000

                    River Bend Retreat  – 560 acres in a secluded northeastern Wyoming setting on the Belle Fourche River. $1,208,000.

                    Bear Lodge Retreat - 75 acres with direct access to National Forest and only minutes from downtown Sundance, Wyoming. $495,000.

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                      brooklyn, Ny
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                      Posted: August 27, 2009, 12:27 am - IP Logged

                      Look! Not evrybody is the same. When I win the jackpot this friday, I'm gonna best winner of all times. Remember when you win the lottery, you just have a bigger account. Nothing change. The same person you were is the same person you gonna be. It's just that you have resources available to do the things you dream of doing. Like buying a fancy cars, buying a nice home and getting plenty of gals. I know that I will win the jackpot this friday because I had just find out a system of how the numbers is drawn, which I can't reveal here. I'm gonna change many lives and make a big difference.

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                        brooklyn, Ny
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                        Posted: August 27, 2009, 12:30 am - IP Logged

                        Sorry bro, I think its mine. I had just develope a system and it has work for the last two draws. This time I'm gonna win.

                          mylollipop's avatar - Trek STLOGO6.png

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                          Posted: August 27, 2009, 12:31 am - IP Logged

                          Any amount is nice.  The current jackpot is very Very VERY Nice!

                            dpoly1's avatar - driver
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                            Posted: August 27, 2009, 12:37 am - IP Logged

                            I hope the winner has been sold in Ohio - because I bought my ticket in Ohio as I was passing through !

                            That would be nice !

                            Instead of worrying about my biopsy - I could take a vacation !!!!!

                            CoolMe on vacation !

                              DC81's avatar - batman39
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                              Posted: August 27, 2009, 12:49 am - IP Logged

                              Not for nothing but won't the payout be like about $25 million a year (if not more)? Seriously, how the *bleep* can you spend $25 million a year and be broke if you never had it before? With the first annuity you can pay whatever debt you (the normal person) has and still have enough to live your wildest dreams and STILL have enough left until the subsequent year.....

                               

                              That's just my devil's advocate position on choosing annuity, but I wouldn't know what I'd personally do.

                              Hmm? No it would be just over half that, 325/25 = 13M, then there's the taxes now and after the rates go back up and no telling where they'll go from there. Then there's the state income tax if your state has one which could always go up (and probably will over the next couple decades) as well. Never mind what your community might try to pull with raising taxes, though at least you can always move out. However with the annuity you're going to be paying those state taxes until the annuity runs out no matter where you live. At least with the cash option you have a lot more choices and greatly lower (and potentially eliminate) some of the taxes you'd pay compared with having to pay regular income tax.

                              No, I'd definitely take the cash and come up with my own plan with the assistance of my "financial team" whom I'd have advise me on a weekly or bi-weekly basis and offer suggestions so I can then do some research before going along with what they suggest. In the mean time I'd go back to school and take some financial/business/economics classes for something to do, perhaps get a degree or two so I'd be able to have a even stronger grasp to handle the situation and gain a firmer grasp on the situation and dealing with these people I'm be paying, I would not take a hands off, lazy approach to managing a monstrous windfall. Which all in the end would help me work toward my ultimate goals. Granted the school thing is probably something that I wouldn't jump into immediately, maybe after a year or so I can get the having fun thing out of my system a little. If I lose it all and become one of those "lotto losers" it will out not out of sheer ignorance, stupidity or going broke. It'll likely be from either my being robbed and murdered or someone I may care about. Dead

                              You can't predict random.