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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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Chief Bottle Washer
New Jersey
United States
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May 31, 2000
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Posted: December 10, 2013, 11:02 pm - IP Logged

Friday jackpot will be $400 million if nobody hits tonight.

 

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    weshar75's avatar - Lottery-042.jpg
    Mcminnville, Oregon
    United States
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    December 13, 2003
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    Posted: December 10, 2013, 11:09 pm - IP Logged

    Friday jackpot will be $400 million if nobody hits tonight.

    Yeah I heard that on the drawing.  The lotto anouncer said that.  I just hope it rolls to friday since I have a multi-draw ticket.-weshar75

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      meriwetherman's avatar - azural
      gay,ga
      United States
      Member #68810
      December 30, 2008
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      Posted: December 10, 2013, 11:11 pm - IP Logged

      Did you hit?

      65 22 41 5 12 magic ball 13

        sully16's avatar - sharan
        Ringleader
        Michigan
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        October 28, 2009
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        Posted: December 10, 2013, 11:14 pm - IP Logged

        Friday jackpot will be $400 million if nobody hits tonight.

        I really think this one can grow into a monster jackpot.

        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"

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          Florida
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          February 12, 2012
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          Posted: December 10, 2013, 11:40 pm - IP Logged

          Another point I would like to make about taking the cash option instead of the annuity is the ability to let it grow without touching the principal

          Using this current $344M jackpot which offers a CV of $184M the net payout after 39.6% Federal tax is applied would be a little over $111 million. Just for comparison the $344 annuity would amount to a $207 million take home pay if the current top tier Fed rate didn't change over the next 29 years (which is unlikely).

          Investing $100 million using a diverse approach with a qualified team of financial advisers/money manager should easily bring conservative returns of at least 6-8% annually. Under a slightly more aggressive approach, 12-15% is completely possible.

          I would suggest the milder goal of 6-8% as over the span of 30-years, you would have far exceeded the return of the lottery annuity without ever making a dent in the principal.

          Jill, I always love your educated analysis on this. Thank you so much for giving us your input. 

          While not quite in the same topic, wouldn't a huge deterrent for accepting the annuity option come from the fact that estate taxes are due on the entire amount (as in the advertised annuity) after someone dies prior to their annuity completing? So, sure, the money would be guaranteed regardless of which option, but the taxes would be overwhelming. Correct me if I'm wrong. Even though I don't have kids, I wouldn't want to leave anyone that burden should I die before my returns come from my annuity. 

          Besides, cash is king. The cash value may be low right now, but that's due to higher interest rates and yields plus MM switching to the 30 year graduated annuity option ala Powerball when prior it was the set annuity over 26 years.

            fwlawrence's avatar - Yavill
            Austin
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            December 6, 2004
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            Posted: December 11, 2013, 12:54 am - IP Logged

            Friday jackpot will be $400 million if nobody hits tonight.

            It is now $400 million!

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              Roslindale, MA
              United States
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              July 1, 2004
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              Posted: December 11, 2013, 1:00 am - IP Logged

              It is now $400 million!

              That seems rather conservative going from $344 million.  I guess the longer odds are still keeping the big money players (i.e. those like me who only play for the big jackpots) on the sidelines? (I might take a small plunge this time.)

                helpmewin's avatar - dandy
                u$a
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                February 22, 2011
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                Posted: December 11, 2013, 1:32 am - IP Logged

                Friday jackpot will be $400 million if nobody hits tonight.

                Thanks for the update i hope it doesn't become a Winner then the ole "Unclaimed ticket" TRICKP***ed

                Let it Snow Snowman

                  helpmewin's avatar - dandy
                  u$a
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                  February 22, 2011
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                  Posted: December 11, 2013, 2:50 am - IP Logged

                  Another thing if anyone hasn't realized the next Mega Drawing is on FRIDAY the 13thEek

                  Let it Snow Snowman

                    rdgrnr's avatar - walt
                    Way back up in them dadgum hills, son!
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                    April 28, 2009
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                    Posted: December 11, 2013, 5:52 am - IP Logged

                    That seems rather conservative going from $344 million.  I guess the longer odds are still keeping the big money players (i.e. those like me who only play for the big jackpots) on the sidelines? (I might take a small plunge this time.)

                    You don't consider $344 million a big jackpot?

                    Not worth a buck to ya?

                      DDOH937's avatar - Lottery-062.jpg

                      United States
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                      December 4, 2013
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                      Posted: December 11, 2013, 9:41 am - IP Logged

                      You don't consider $344 million a big jackpot?

                      Not worth a buck to ya?

                      I dont understand it either, are these people really scoffing at a $400 Million pot????? Have we really all just become so jaded??? I'd take a jump at $400K in a heartbeat much less $400 Million. I guess its all jsut talk anyway, but come on.

                      "It's good to have money and the things that money can buy, but it's good, too, to check up once in a while and make sure that you haven't lost the things that money can't buy." - George Lorimer

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                        Roslindale, MA
                        United States
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                        July 1, 2004
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                        Posted: December 11, 2013, 10:33 am - IP Logged

                        You don't consider $344 million a big jackpot?

                        Not worth a buck to ya?

                        For the terrible odds of winning involved (even by jackpot draw standards), no it wasn't.  I did take a small plunge today  for Friday, though.

                          rdgrnr's avatar - walt
                          Way back up in them dadgum hills, son!
                          United States
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                          April 28, 2009
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                          Posted: December 11, 2013, 11:11 am - IP Logged

                          For the terrible odds of winning involved (even by jackpot draw standards), no it wasn't.  I did take a small plunge today  for Friday, though.

                          Oh man.

                          Remind me never to go drinkin' with you, lol.

                          Good luck though!