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California delivery driver claims half of $648 million jackpot

Topic closed. 62 replies. Last post 3 years ago by jamella724.

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hearsetrax's avatar - 0118

United States
Member #52345
May 21, 2007
2659 Posts
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Posted: January 4, 2014, 8:44 am - IP Logged

Yeah, yeah, yeah. I wanted it to be me. I'm not happy for him.

sticking out my tongue

I see you need another boxI see u need a nother box

Congrats Mr Tran

    Gleno's avatar - Lottery-001.jpg
    New Jersey
    United States
    Member #80354
    September 25, 2009
    705 Posts
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    Posted: January 4, 2014, 10:19 am - IP Logged

    Just can't fathom lump sum payouts. Surmise that taking the annuity with its bigger long term payout results in more taxes, over the cumulative payoff period. Know the smart money advises to take the lump sum and pay the taxes all at once. It just  too much to manage such a huge prize amount at one time. But that's just me. Know Yours Truly, is in the minority on this issue of lump sum vs  the annuity option. Just think having the payments spread over a long period is a little easier to work.

     

    Coffee

      RJOh's avatar - chipmunk
      mid-Ohio
      United States
      Member #9
      March 24, 2001
      19828 Posts
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      Posted: January 4, 2014, 12:51 pm - IP Logged

      Tran told lottery officials that after learning he had the winning ticket, he made a call to his boss: "I'm really sorry boss. I hit the jackpot. I don't think I'm going to come in today, tomorrow, or ever."

      At that point I would have known for sure if I planned to ever return to my job. Wink

       * you don't need to buy more tickets, just buy a winning ticket * 
         
                   Evil Looking       

        golfer1960's avatar - Lottery-003.jpg
        Eatontown, NJ
        United States
        Member #119670
        November 29, 2011
        740 Posts
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        Posted: January 4, 2014, 2:15 pm - IP Logged

        I see you need another boxI see u need a nother box

        Congrats Mr Tran

        (British accent): I beg your pardon but crying is my way of coping with a life long sentence of losing, thank you Mr. Hearsetrax.

        May I get you a spot of tea?

        british butler

          RJOh's avatar - chipmunk
          mid-Ohio
          United States
          Member #9
          March 24, 2001
          19828 Posts
          Online
          Posted: January 4, 2014, 2:47 pm - IP Logged

          Just can't fathom lump sum payouts. Surmise that taking the annuity with its bigger long term payout results in more taxes, over the cumulative payoff period. Know the smart money advises to take the lump sum and pay the taxes all at once. It just  too much to manage such a huge prize amount at one time. But that's just me. Know Yours Truly, is in the minority on this issue of lump sum vs  the annuity option. Just think having the payments spread over a long period is a little easier to work.

           

          Coffee

          Chances are the winners that take cash have watch some those TV investment program seen or heard of people who earn 20% a year on their investments and figure they could do better than states will with a annuity only play 5% a year over the next thirty years.   If not, a financial adviser have told them he can to a lot better for only a small fee.

           * you don't need to buy more tickets, just buy a winning ticket * 
             
                       Evil Looking       

            Avatar
            Kentucky
            United States
            Member #32652
            February 14, 2006
            7310 Posts
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            Posted: January 4, 2014, 4:20 pm - IP Logged

            Just can't fathom lump sum payouts. Surmise that taking the annuity with its bigger long term payout results in more taxes, over the cumulative payoff period. Know the smart money advises to take the lump sum and pay the taxes all at once. It just  too much to manage such a huge prize amount at one time. But that's just me. Know Yours Truly, is in the minority on this issue of lump sum vs  the annuity option. Just think having the payments spread over a long period is a little easier to work.

             

            Coffee

            Off the top, I can think of two very logical reason why currently taking the cash is better decision in California. They have no state tax on lottery winnings, but that could change. Currently it's 12.3% of income over $691,000 that a lottery winner must pay if the legislators created tax on lottery winnings. Any financial planner understands in the next 30 years the current interest rate can only go up and not advise locking into the tiny rate the annuity is now offering.

            Solid logical reasons can be made for taking the payments too, but I can't think of any.

              lottoguysocal's avatar - atlantis dubai_1118783i.jpg
              camarillo, ca
              United States
              Member #132476
              September 4, 2012
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              Posted: January 4, 2014, 6:19 pm - IP Logged

              Congrats to the lucky winner!

                JAP69's avatar - alas
                South Carolina
                United States
                Member #6
                November 4, 2001
                8790 Posts
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                Posted: January 4, 2014, 6:32 pm - IP Logged

                MAGA

                  maringoman's avatar - images q=tbn:ANd9GcTbRxpKQmOfcCoUqF2FyqIOAwDo7rg9G-lfJLAALPGWJWwiz19eRw
                  Massachusetts
                  United States
                  Member #37433
                  April 14, 2006
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                  Posted: January 4, 2014, 6:35 pm - IP Logged

                  Of the two tickets that hit the jp, one ticket was a QP and one was self selected numbers. Steve Tran and Ira Curry were the lucky winners. Interesting.

                  That money's gone fo ever

                    RedStang's avatar - tallman zps6gf4inoc.jpg
                    NY
                    United States
                    Member #121961
                    January 21, 2012
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                    Posted: January 4, 2014, 6:52 pm - IP Logged

                    Congratulations! And as I said before, sometimes people just get busy and don't get to check their tickets right away. It does not mean they want to win any less than anyone of us.

                    Best quote ever :"I'm really sorry boss. I hit the jackpot. I don't think I'm going to come in today, tomorrow, or ever."

                    That quote is great. I would love to hear him say it.

                      Avatar
                      New Member
                      Kankakee il
                      United States
                      Member #150754
                      December 30, 2013
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                      Posted: January 4, 2014, 8:13 pm - IP Logged

                      you da man good luvk may god be with you

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                        san diego
                        United States
                        Member #68237
                        December 16, 2008
                        97 Posts
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                        Posted: January 4, 2014, 10:03 pm - IP Logged

                        California does not tax Lottery winnings. You only pay Federal Tax.

                          golfer1960's avatar - Lottery-003.jpg
                          Eatontown, NJ
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                          Member #119670
                          November 29, 2011
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                          Posted: January 4, 2014, 10:29 pm - IP Logged

                          I didn't want to win this stupid lottery anyway hearsetrax. I'm happy doing what I do!!!

                           

                          golfer working

                          Stupid Lottery. Sad

                            justxploring's avatar - villiarna
                            Wandering Aimlessly
                            United States
                            Member #25360
                            November 5, 2005
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                            Posted: January 5, 2014, 1:13 am - IP Logged

                            Tran told lottery officials that after learning he had the winning ticket, he made a call to his boss: "I'm really sorry boss. I hit the jackpot. I don't think I'm going to come in today, tomorrow, or ever."

                            At that point I would have known for sure if I planned to ever return to my job. Wink

                            That was my favorite line in the article.   Finally!   I always get a kick out of the people who win millions and say "Oh, I'll still work at Walmart. This money won't change me."    Sure!  Roll Eyes   Of course it is important to continue to do something productive and, if I owned a business, I might continue to be active in it.  However, I can think of a lot better things to do than work for someone else in a store or a factory.  Congrats to the winner.

                              Slick Nick's avatar - Lottery-035.jpg
                              Rochester
                              United States
                              Member #103282
                              January 1, 2011
                              603 Posts
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                              Posted: January 5, 2014, 7:42 am - IP Logged

                              Didn't check his tickets for 2 weeks, this seems to be common.What?

                              Money is a terrible master, but a great servant...Smile