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Couple wins $3M jackpot 27 years after wife's numbers last came up

Topic closed. 41 replies. Last post 3 years ago by Drenick1.

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mightwin's avatar - questns

United States
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January 5, 2011
486 Posts
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Posted: March 9, 2014, 9:51 am - IP Logged

I Agree! The Top federal rate was 91% in 1963 and even as late as 1981 stood at 70%. I have no doubt we will witness several severe tax hikes in our lifetime.

Quick question....so say back in the 40's someone who was in the top tax bracket had $100,000 left over after taxes, which would be alot back then, what would that amount ($100,000) be equivalent to today?

    OldSchoolPa's avatar - Lottery-057.jpg
    Gurnee, Illinois
    United States
    Member #49731
    February 12, 2007
    917 Posts
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    Posted: March 9, 2014, 10:11 am - IP Logged

    Well, my numbers for Mega Millions came up about 12 years ago. I had them written on a sheet of paper in front of me on my desk. I was going to play them even though the jackpot had been hit the previous draw. We were going to be headed to a Christmas party that night, so my ex-wife would pop into my office from time to time. She was dead set against playing the lottery and she saw me looking at the lottery website and the numbers written down in front of me and she ripped into me about how playing the lottery is a sin, that it is gambling away God's resources and how it is from the pit of hell to be placing hope in winning the lottery. The one time I should have been like, "that is your opinion and we will just have to agree to disagree" should have been that time. I let her words weigh on me and did not make it out to the store to buy tickets before we had to head for the party. I had thought to stop on the way, but she would have none of it. We had a decent time at the party, but imagine my horror when I listened to the radio announcer on WBBM give the winning lottery numbers for Mega Millions. I knew that at least 5 of the 6 sounded familiar, so my heart sunk knowing I had at least missed out on winning $10,000.  It absolutely crushed me when I got home and compared my number sheet to the lottery website...an exact match. I was pissed. That is why I just hope to win soon. The first person I will call will be my ex-wife!

    And no, I will not be sharing since she believes lottery money is ungodly money. I will be happily flying first class to tropical locations, staying in nice villas and the occasional 5 star hotel, sipping bottled water on the beach (yeah I am not an alcoholic drinker), going scuba diving around the world, and making my address whatever flight number I happen to be on (so good luck to all those beggars out there chasing after every lottery winner).  So have I forgiven her? Yes I forgave her long ago as I never allowed her guilt trips prevent me from purchasing lottery tickets again. I even started just leaving lottery tickets I had purchased lying on my desk just so she could see that fact. Of course, I have not forgotten!

    Now these folks are over 50 so it is puzzling why she would select annuity vice cash value given that our tax rates can only go up. I have a feeling Peachtree Settlements may be in their future.  I would much rather have a large lump sum available from which to plan than an annuity stream that will likely lessen due to tax hikes and inflation.

    Get MONEY!!! Winning a JACKPOT lottery is all the HOPE and CHANGE I desire!!!  NOW give me MONEY!US Flag

    The guy who won the presidency in 2008 really won the lottery...he is now millions richer, travels in first class style, and even has a staff that would be the envy of the richest Powerball winner (she has a staff of 2). Every night he goes to sleep, he probably plays the close of Dave Chappelle's Show: I'm rich beyatch!

      Drenick1's avatar - villiarna
      USA
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      February 25, 2014
      1090 Posts
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      Posted: March 9, 2014, 12:19 pm - IP Logged

      Quick question....so say back in the 40's someone who was in the top tax bracket had $100,000 left over after taxes, which would be alot back then, what would that amount ($100,000) be equivalent to today?

      Using inflation as a factor $100k in 1940  is worth almost 1.7 million. Spending power does however differ. The  average price of a movie ticket was .24 now it's over $8.00, the average car was $800 now it's over $20k so spending power of 100k in 1940 is closer to $3million.

        mightwin's avatar - questns

        United States
        Member #103786
        January 5, 2011
        486 Posts
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        Posted: March 9, 2014, 1:52 pm - IP Logged

        Using inflation as a factor $100k in 1940  is worth almost 1.7 million. Spending power does however differ. The  average price of a movie ticket was .24 now it's over $8.00, the average car was $800 now it's over $20k so spending power of 100k in 1940 is closer to $3million.

        I was wondering if being in the highest tax bracket now (around 40%) is close to being in the highest tax bracket back then (around 90%). Maybe theres too much to factor in, don't know. Any thoughts anybody?

          Drenick1's avatar - villiarna
          USA
          United States
          Member #152799
          February 25, 2014
          1090 Posts
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          Posted: March 9, 2014, 2:41 pm - IP Logged

          I was wondering if being in the highest tax bracket now (around 40%) is close to being in the highest tax bracket back then (around 90%). Maybe theres too much to factor in, don't know. Any thoughts anybody?

          The only thing in common with the highest tax bracket from past years is you are subject to paying the most in taxes when compared to the overall population. Income and wealth are not even close to being comparable unless you adjust for inflation.

            Avatar
            New York, NY
            United States
            Member #13514
            April 7, 2005
            235 Posts
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            Posted: March 12, 2014, 12:24 pm - IP Logged

            This is my favorite part right here

             

             

            "Before answering the official, Jeanne Gagnon said she whipped out her handheld computer and did some quick tax calculations.

            "I don't think [the lottery official] was expecting that," she said.

            In the end, the Gagnons determined they would be better off with annual $70,000 payments, for which they are establishing a family estate.

            "If we had taken the lump sum we would have lost $700,000 right off to taxes," Jeanne Gagnon said. "I wasn't having that."  "

             

            LOL  Congratulations!!!!

              Drenick1's avatar - villiarna
              USA
              United States
              Member #152799
              February 25, 2014
              1090 Posts
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              Posted: March 12, 2014, 3:33 pm - IP Logged

              Well, my numbers for Mega Millions came up about 12 years ago. I had them written on a sheet of paper in front of me on my desk. I was going to play them even though the jackpot had been hit the previous draw. We were going to be headed to a Christmas party that night, so my ex-wife would pop into my office from time to time. She was dead set against playing the lottery and she saw me looking at the lottery website and the numbers written down in front of me and she ripped into me about how playing the lottery is a sin, that it is gambling away God's resources and how it is from the pit of hell to be placing hope in winning the lottery. The one time I should have been like, "that is your opinion and we will just have to agree to disagree" should have been that time. I let her words weigh on me and did not make it out to the store to buy tickets before we had to head for the party. I had thought to stop on the way, but she would have none of it. We had a decent time at the party, but imagine my horror when I listened to the radio announcer on WBBM give the winning lottery numbers for Mega Millions. I knew that at least 5 of the 6 sounded familiar, so my heart sunk knowing I had at least missed out on winning $10,000.  It absolutely crushed me when I got home and compared my number sheet to the lottery website...an exact match. I was pissed. That is why I just hope to win soon. The first person I will call will be my ex-wife!

              And no, I will not be sharing since she believes lottery money is ungodly money. I will be happily flying first class to tropical locations, staying in nice villas and the occasional 5 star hotel, sipping bottled water on the beach (yeah I am not an alcoholic drinker), going scuba diving around the world, and making my address whatever flight number I happen to be on (so good luck to all those beggars out there chasing after every lottery winner).  So have I forgiven her? Yes I forgave her long ago as I never allowed her guilt trips prevent me from purchasing lottery tickets again. I even started just leaving lottery tickets I had purchased lying on my desk just so she could see that fact. Of course, I have not forgotten!

              Now these folks are over 50 so it is puzzling why she would select annuity vice cash value given that our tax rates can only go up. I have a feeling Peachtree Settlements may be in their future.  I would much rather have a large lump sum available from which to plan than an annuity stream that will likely lessen due to tax hikes and inflation.

              That is the nightmare scenario I have heard so often from those who play their own numbers. They never want to miss a draw in case the stars line up in their favor.

              I am sorry to hear this happened to.

              I agree with you as well on the puzzling annuity selection.

                Jill34786's avatar - Lottery-006.jpg
                Windermere, FL/Franklin, TN
                United States
                Member #50210
                March 1, 2007
                843 Posts
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                Posted: March 13, 2014, 5:25 pm - IP Logged

                This is a really cute story, but really weird that they opted for the annuity at their age.

                Didn't make any sense to me either.

                ** Some people fulfill their dreams by receiving entitlements from the Government while others wake up and work hard for it! **

                  Drenick1's avatar - villiarna
                  USA
                  United States
                  Member #152799
                  February 25, 2014
                  1090 Posts
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                  Posted: March 21, 2014, 1:37 pm - IP Logged

                  Didn't make any sense to me either.

                  I Agree! Cool avatar btw! I don't golf but have tried and failed miserably.

                    michaelsullivan's avatar - Lottery-012.jpg
                    New Member
                    port of spain
                    Trinidad and Tobago
                    Member #151641
                    January 23, 2014
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                    Posted: March 22, 2014, 9:04 am - IP Logged

                    if you dont have a ticket you dont have a chance.

                      Jill34786's avatar - Lottery-006.jpg
                      Windermere, FL/Franklin, TN
                      United States
                      Member #50210
                      March 1, 2007
                      843 Posts
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                      Posted: March 22, 2014, 8:20 pm - IP Logged

                      I Agree! Cool avatar btw! I don't golf but have tried and failed miserably.

                      Glad you like my avatar as that is actually me hitting my tee shot.

                      ** Some people fulfill their dreams by receiving entitlements from the Government while others wake up and work hard for it! **

                        Drenick1's avatar - villiarna
                        USA
                        United States
                        Member #152799
                        February 25, 2014
                        1090 Posts
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                        Posted: March 24, 2014, 8:19 am - IP Logged

                        Glad you like my avatar as that is actually me hitting my tee shot.

                        Nice! You look like a pro! Wink