Welcome Guest
Log In | Register )
You last visited December 3, 2016, 8:36 am
All times shown are
Eastern Time (GMT-5:00)

$540 MILLION: Mega Millions buying frenzy sparks another jackpot increase

Topic closed. 387 replies. Last post 5 years ago by gordianknot.

Page 3 of 26
55
PrintE-mailLink
smooth11484's avatar - Lottery-053.jpg
ohio
United States
Member #125198
March 26, 2012
1894 Posts
Offline
Posted: March 29, 2012, 2:30 pm - IP Logged

Nice pick! If I iwn I'm going for a fully equipped Lincoln MKZ

i need a foreign car. AMERICAN MADE are boring cars.

    Piaceri's avatar - sarsony1
    Republic of Texas
    United States
    Member #57557
    January 9, 2008
    1095 Posts
    Offline
    Posted: March 29, 2012, 2:32 pm - IP Logged

    What fun what fun DancePartyDance

    White Bounce  yep yep yep!

    face

    singlewinnersinglewinnersinglewinner   

      Jill34786's avatar - Lottery-006.jpg
      Windermere, FL/Franklin, TN
      United States
      Member #50210
      March 1, 2007
      843 Posts
      Offline
      Posted: March 29, 2012, 2:32 pm - IP Logged

      Insanity----

      The Ohio annuity after-tax payment is $14,330,769 (26 payments)

      I'm taking the annuity. Yes Nod

      $14,330,769 is a nice after tax annuity but next year the top tier tax rate goes up (unless Congress extends the Bush tax cuts once again).

      You will have no certainty from future Fed tax rate increase. If the top Federal rate goes to 70% (it's been higher in past years) then your payment dwindles down to $4,984,615 and that's assuming the Ohio state tax rate stays at 6%.

      The cash value after tax in Ohio is $292,500,000 . If it earned a measly 2% in perhaps a Municipal tax free bond then you would net 5,850,000 each year without ever touching the principal.

      While someone taking the annuity would be collecting their last payment 26 years from now, the person who opted for the cash would have already been paid over $152,100,000 tax free while still having the original $292,500,000 left in their account.

      Not trying to persuade your mind but just wanted to give you a different perspectiveSmile

        golfer1960's avatar - Lottery-003.jpg
        Eatontown, NJ
        United States
        Member #119670
        November 29, 2011
        740 Posts
        Offline
        Posted: March 29, 2012, 2:32 pm - IP Logged

        Only $1.395M in Rumson, NJ (only is sarcastic)

        5bd/5ba, 3,490 sq ft. Built in 2011

        I'll put in an offer in a month when my MM check clears.  Banana

          gocart1's avatar - lighthouse
          ONEONTA,NEW YORK
          United States
          Member #30516
          January 17, 2006
          419 Posts
          Offline
          Posted: March 29, 2012, 2:33 pm - IP Logged

          God most be pretty busy with all the prayers that are being said....PartyUS FlagParty

            smooth11484's avatar - Lottery-053.jpg
            ohio
            United States
            Member #125198
            March 26, 2012
            1894 Posts
            Offline
            Posted: March 29, 2012, 2:35 pm - IP Logged

            ii willllll be sicccccck to my stomach if one person wins

              Avatar

              United States
              Member #122691
              February 6, 2012
              330 Posts
              Offline
              Posted: March 29, 2012, 2:36 pm - IP Logged

              Personally if you win you should go out and buy a crappier car than what you have. Throw the scent off. lol

              I would go pick up a 93 Chryler Voyager with 100,000 miles on it.

                fwlawrence's avatar - Yavill
                Austin
                United States
                Member #9378
                December 6, 2004
                210 Posts
                Offline
                Posted: March 29, 2012, 2:38 pm - IP Logged

                ii willllll be sicccccck to my stomach if one person wins

                Even if you win?

                  golfer1960's avatar - Lottery-003.jpg
                  Eatontown, NJ
                  United States
                  Member #119670
                  November 29, 2011
                  740 Posts
                  Offline
                  Posted: March 29, 2012, 2:38 pm - IP Logged

                  Personally if you win you should go out and buy a crappier car than what you have. Throw the scent off. lol

                  I would go pick up a 93 Chryler Voyager with 100,000 miles on it.

                  Great idea Venom! Very creative!

                    Avatar
                    Florida
                    United States
                    Member #123021
                    February 12, 2012
                    29 Posts
                    Offline
                    Posted: March 29, 2012, 2:40 pm - IP Logged

                    Wow, this is just madness! But this has been so exciting to watch too. Big Grin I have to admit, I think it would be startling if it rolled over again. 

                    I hear a lot of people are considering the annuity now, and I don't see why not. It really would be like winning the lottery for a couple decades! Maybe I'm just young (19, lol), but the fear of a governmental melt down to threaten any annuity set by the lottery (government bonds) seems a bit conspiracy theorist like. If the government was in such a shape that there is hyper inflation AND the government stops sending out the guaranteed payments, I think we would noticeably be in far greater trouble financially as a whole country. 

                    Of course, you'd also have to worry about increases in taxes. That's another thing you'd be betting with the annuity, but even that I think could be manageable if you were deadset on getting it. 

                    I think the only thing that would make me ere on the side of caution and take the lump sum is that it's paid over 26 years. That's both a blessing and a curse. The blessing is obvious, but the curse is- what if you die before the annuity finishes distributing to you? I hear that your family after your death would have to pay taxes on the ENTIRE amount of the winning, even though your estate hasn't received the entire thing (which would be paid to you heirs as well). That, to me, is a huge deterrent of the annuity option. I wouldn't want to put that burden on my family. You are more likely, I'm sure, to die tomorrow in a car accident than in fear the government is going to scale back on your annuity, just saying. 

                    Although, if someone can tell me otherwise about the above, that would be great! I'm still learning about all this.

                    I suppose another deterrent would be your investment opportunity. I've read a comparison where if you were to invest the lump sum option versus the annuity every year you receive it, you still receive more return on the lump sum. But not everyone is interested in investing, of course, but it would be wise to grow your money and give it to the next generation. Smile 

                    Any more detailed information on this though would be greatly appreciated! I admit, I'm a novice. Embarassed Still undecided about the annuity versus lump sum option, but at this point, I think many of us would be happy with either.

                      fwlawrence's avatar - Yavill
                      Austin
                      United States
                      Member #9378
                      December 6, 2004
                      210 Posts
                      Offline
                      Posted: March 29, 2012, 2:40 pm - IP Logged

                      If I win I will get a t-shirt that says "I am the 1%".

                        Jill34786's avatar - Lottery-006.jpg
                        Windermere, FL/Franklin, TN
                        United States
                        Member #50210
                        March 1, 2007
                        843 Posts
                        Offline
                        Posted: March 29, 2012, 2:41 pm - IP Logged

                        Well, I believe different locations play different set of numbers..( Just my way of thinking)

                        Don't all locations play different numbers?

                          smooth11484's avatar - Lottery-053.jpg
                          ohio
                          United States
                          Member #125198
                          March 26, 2012
                          1894 Posts
                          Offline
                          Posted: March 29, 2012, 2:42 pm - IP Logged

                          Even if you win?

                          yeAH becuz i wuld b soooooooooooooooooooo

                          happy

                            haymaker's avatar - Lottery-012.jpg
                            Egg Harbor twp.south Jersey shore
                            United States
                            Member #112968
                            June 29, 2011
                            3850 Posts
                            Offline
                            Posted: March 29, 2012, 2:42 pm - IP Logged

                            I hope so to driving to NJ tomorrow to buy a FEW lol.

                            does'nt matter which bridge you use, no toll coming  in, however,

                            you have to pay to get out.

                            Extraordinary Popular Delusions & the Madness of Crowds    -- Charles Mackay  LL.D.


                              Bahamas
                              Member #114685
                              August 5, 2011
                              422 Posts
                              Offline
                              Posted: March 29, 2012, 2:42 pm - IP Logged

                              ii willllll be sicccccck to my stomach if one person wins

                              I will be royally pissed off if a first time player off one QP wins it!

                               

                              Though Lady Luck is an Equal Opportunity Wish Granter

                              "Freedom of Speech? Keep reading and you will discover that freedom comes at a price!"

                                 
                                Page 3 of 26