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$344 MILLION: Mega Millions lottery jackpot skyrockets

Topic closed. 102 replies. Last post 3 years ago by rdgrnr.

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weshar75's avatar - Lottery-042.jpg
Mcminnville, Oregon
United States
Member #3013
December 13, 2003
3047 Posts
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Posted: December 7, 2013, 11:19 pm - IP Logged

If I get lucky on my ticket this tuesday night I am taking the cash because I will never spend that amount of money in my life time.-weshar75

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    golfer1960's avatar - Lottery-003.jpg
    Eatontown, NJ
    United States
    Member #119670
    November 29, 2011
    740 Posts
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    Posted: December 7, 2013, 11:21 pm - IP Logged

    I'm thinking sun and fun if I win.

    Waldorf Astoria Key West

      LottoMetro's avatar - Lottery-024.jpg
      Happyland
      United States
      Member #146344
      September 1, 2013
      1129 Posts
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      Posted: December 7, 2013, 11:22 pm - IP Logged

      Oh okay. Still lots of money eh, Metro? Would you take the cash or annuity?

      I would probably consider annuity if it was $1 billion or more, just because I don't have one foot in the grave yet Jester

      Otherwise cash for the following reasons:

      1) Regarding taxation, lump sum penalizes about half a percent versus annuity but that is under current rates only. Taxes are more likely to go up than down in the future, so it would be better to pay up now and never have to pay again (other than on interest, investments etc) rather than risk a higher rate down the road.

      2) Say you feel strongly that you could earn "at least" 5% (~3% annual yield is required to match annuity) on your money. With the cash up front you already have a headstart and can use the power of compounding. Earning 5% on the lump sum beats the annuity with 5% additional return. So if you got the annuity and earned 5% on top of the premium packed into your payment, it would be less than if you had taken the cash and invested it at 5% return.

      Of course, the scaling effect can potentially diminish returns on the lump sum (hence why I would consider annuity over $1 billion), you can lose it faster, etc. while the annuity guarantees an inflation-padded, steady stream of income.

      3) Obviously, nobody is guaranteed another day (government/creditors included!) so might as well enjoy life and your money while you can! Wink

      If the chances of winning the jackpot are so slim, why play when the jackpot is so small? Your chances never change, but the potential payoff does.
      If a crystal ball showed you the future of the rest of your life, and in that future you will never win a jackpot, would you still play?

      2016: -48.28% (13 tickets) ||
      P&L % = Total Win($)/Total Wager($) - 1

        rdgrnr's avatar - walt
        Way back up in them dadgum hills, son!
        United States
        Member #73904
        April 28, 2009
        14903 Posts
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        Posted: December 7, 2013, 11:37 pm - IP Logged

        Not cheat sheets, cheat codes.

        Yeah, I was using code (cheat sheets) to describe cheat codes.

        But now you've blown the whole operation.

          ashabug725's avatar - Yavill
          Indiana
          United States
          Member #122868
          February 9, 2012
          322 Posts
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          Posted: December 8, 2013, 12:26 am - IP Logged

          I would take the cash option simply to make sure that if something happened to me the $$$$ would go to my children!!

          I wish I may, I wish I might...
                     Win the Powerball jackpot THIS big night!!!

            DC81's avatar - batman39
            MI
            United States
            Member #54830
            August 31, 2007
            985 Posts
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            Posted: December 8, 2013, 2:58 am - IP Logged

            Not cheat sheets, cheat codes.

            Did the input Up, Up, Down, Down, Left, Right, Left, Right, B, A?

            You can't predict random.

              Avatar

              United States
              Member #124814
              March 20, 2012
              219 Posts
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              Posted: December 8, 2013, 5:07 am - IP Logged

              I would probably consider annuity if it was $1 billion or more, just because I don't have one foot in the grave yet Jester

              Otherwise cash for the following reasons:

              1) Regarding taxation, lump sum penalizes about half a percent versus annuity but that is under current rates only. Taxes are more likely to go up than down in the future, so it would be better to pay up now and never have to pay again (other than on interest, investments etc) rather than risk a higher rate down the road.

              2) Say you feel strongly that you could earn "at least" 5% (~3% annual yield is required to match annuity) on your money. With the cash up front you already have a headstart and can use the power of compounding. Earning 5% on the lump sum beats the annuity with 5% additional return. So if you got the annuity and earned 5% on top of the premium packed into your payment, it would be less than if you had taken the cash and invested it at 5% return.

              Of course, the scaling effect can potentially diminish returns on the lump sum (hence why I would consider annuity over $1 billion), you can lose it faster, etc. while the annuity guarantees an inflation-padded, steady stream of income.

              3) Obviously, nobody is guaranteed another day (government/creditors included!) so might as well enjoy life and your money while you can! Wink

              That's true, but at the same time, there aint a whole lot you can't buy with the 14m to 30m a year you'd be making with that annuity. Even if you encountered things you couldn't buy, no one in their right mind is going to sit there and deny you credit.

              I think if it hit a mark of 900 million, I'd just take the annuity. That's an average of 18 million a year after taxes at the current rate, but then again, taxes are likely to increase. But will it increase to the point where losing 50% of your money by taking the lump sum is worth it?

                BuyLow's avatar - palm tree.jpg
                Florida
                United States
                Member #61435
                May 22, 2008
                906 Posts
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                Posted: December 8, 2013, 8:43 am - IP Logged

                Looks like it will jump to 4th largest jackpot ever if not hit Tuesday.......!!!! 

                 

                I am ready for a win!  Florida has not ever won a MM Jackpot, I will accept on their behalf!!

                  BuyLow's avatar - palm tree.jpg
                  Florida
                  United States
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                  May 22, 2008
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                  Posted: December 8, 2013, 8:45 am - IP Logged

                  I'm thinking sun and fun if I win.

                  Waldorf Astoria Key West

                  Great resort but the beach (if thats what you are looking for) in front is rocks for the most part......lots of activities, location off the busy streets but close to everything.

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                    Akron, Ohio
                    United States
                    Member #145647
                    August 10, 2013
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                    Posted: December 8, 2013, 9:16 am - IP Logged

                    That <snip> Contra to nintendo!!!! LMFAO @ up,up, down, down, left-right left-right b, a, b, a, select, start, I'm the $344,000,000 Jackpot winner in Ohio 12/10/13!!!!

                    This post has been automatically changed by the Lottery Post computer system to remove inappropriate content and/or spam.

                      Avatar
                      Akron, Ohio
                      United States
                      Member #145647
                      August 10, 2013
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                      Posted: December 8, 2013, 9:18 am - IP Logged

                      Florida won enough money this year they need a hiatus!!!!

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                        United States
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                        January 29, 2012
                        69 Posts
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                        Posted: December 8, 2013, 9:55 am - IP Logged

                        Where is the, "I constantly come on a messgeboard to talk about it so I may buy one ticket this week but I'm kind of waiting for it to get bigger" crowd.

                         

                        Just laughable.

                          savagegoose's avatar - ProfilePho
                          adelaide sa
                          Australia
                          Member #37136
                          April 11, 2006
                          3300 Posts
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                          Posted: December 8, 2013, 10:09 am - IP Logged

                          around 60k a month at %1 interest and a %30 tax  rate.   maybe multiply that by what ever interest you think you could get like 5% would be 5x or 300k a month

                          2014 = -1016; 2015= -1409; 2016 JAN = -106; FEB= -81; MAR= -131; APR= - 87: MAY= -91; JUN= -39; JUL=-134; AUG= -124; SEP = -123; OCT= -84  NOV=- 73 TOT= -3498

                          keno historic = -2291 ; 2015= -603; 2016= JAN=-32, FEB= +12 , MAR= -86, APR = -77. MAY= -48, JUN= -29, JUL=-71; AUG = -52; SEPT= -43; OCT = +56 NOV = -33 TOT= -3297

                            sully16's avatar - sharan
                            Ringleader
                            Michigan
                            United States
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                            October 28, 2009
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                            Posted: December 8, 2013, 10:48 am - IP Logged

                            I'm thinking sun and fun if I win.

                            Waldorf Astoria Key West

                            Nice

                            Did you exchange a walk on part in the war ?

                            For a lead role in a cage?

                             

                                                                        From Pink Floyd's " Wish you were here"

                              Goteki54's avatar - Lottery-007.jpg
                              Baltimore, MD
                              United States
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                              May 30, 2013
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                              Posted: December 8, 2013, 1:07 pm - IP Logged

                              Now is about the time the causal players are starting to buy into.  If I had the 2nd prize of 1 million, I would still be smiling all the way to the bank.

                              Following the trends and patterns means following the money!Banana