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$111 million EuroMillions jackpot won in Ireland

Topic closed. 24 replies. Last post 2 years ago by HaveABall.

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mikeintexas's avatar - tx avatar-1.gif
Texas Panhandle
United States
Member #136843
December 20, 2012
1267 Posts
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Posted: September 22, 2014, 8:39 pm - IP Logged

1.55% is 6 times higher than the current interest rate of .25% being paid at most U.S. banks.

$1.7 million before taxes being paid on the principal each year is something most of us could live with.

You got that right.  It's been a while since I checked, but even jumbo 5-yr. CDs don't pay much more than that.   I haven't taken out a loan in a long time, either, but there's sure a big difference on what you get for keeping money in a bank and what you have to pay for borrowing some.  I know a business has to make a profit, but...I guess they have us over a barrel.   Oh well, at least it's better than a pawn shop.  Here in Texas if you pawn something for less than $200, the interest rate is 240%. (10% /month)

    Bondi Junction
    Australia
    Member #57242
    December 24, 2007
    1102 Posts
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    Posted: September 23, 2014, 1:40 am - IP Logged

    At least the winner will be able to remain anonymous, which should make it easier to manage the money.

    We all get a lot out of lotteries!

      JackpotWanna's avatar - squiz

      United States
      Member #4121
      March 23, 2004
      817 Posts
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      Posted: September 23, 2014, 8:35 am - IP Logged

      Awesome win!!!

       

      Party

        Skibunnylk's avatar - Lottery-059.jpg

        United States
        Member #157701
        July 28, 2014
        137 Posts
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        Posted: September 23, 2014, 2:17 pm - IP Logged

        Congratulations EuroMillions BIG jackpot winner(s)! Lep

        Wow, Ireland legal citizen savers sure do get punished in Ireland!  If this citizen invests their savings, Ireland's federal government gets a 40% cut of interest earned each year!!!

        Our federal government is pretty close with a top tier rate of 39.6% but you may also have to factor in the states cut if you happen to live in a state that charges an income tax.

          Skibunnylk's avatar - Lottery-059.jpg

          United States
          Member #157701
          July 28, 2014
          137 Posts
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          Posted: September 23, 2014, 2:19 pm - IP Logged

          no castle for me either, but I'd love to find a nice swatch of land to build on

          A nice parcel would be my 2nd choice if I couldn't find an ideal existing home.

            Skibunnylk's avatar - Lottery-059.jpg

            United States
            Member #157701
            July 28, 2014
            137 Posts
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            Posted: September 23, 2014, 2:20 pm - IP Logged

            1.55% is 6 times higher than the current interest rate of .25% being paid at most U.S. banks.

            $1.7 million before taxes being paid on the principal each year is something most of us could live with.

            Many banks in Europe charge you to keep your own money in their bank.

              Scratch$'s avatar - sm lottery.jpg

              United States
              Member #158848
              September 5, 2014
              294 Posts
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              Posted: September 23, 2014, 2:21 pm - IP Logged

              No castle for me as I would "settle" for a moderate custom built home in a nice safe and secure neighborhood.

              A 4000 square foot house on 5 acres would suit me just fine! Big Grin

              Scratchers ~ Cash 5 ~ Powerball ~ Mega Millions

                Skibunnylk's avatar - Lottery-059.jpg

                United States
                Member #157701
                July 28, 2014
                137 Posts
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                Posted: September 23, 2014, 2:36 pm - IP Logged

                A 4000 square foot house on 5 acres would suit me just fine! Big Grin

                I Agree!

                I can't argue with that!

                  Bondi Junction
                  Australia
                  Member #57242
                  December 24, 2007
                  1102 Posts
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                  Posted: September 23, 2014, 11:21 pm - IP Logged

                  Our federal government is pretty close with a top tier rate of 39.6% but you may also have to factor in the states cut if you happen to live in a state that charges an income tax.

                  Deposit Interest Retention Tax

                  Deposit Interest Retention Tax (D.I.R.T.), at the rate of 41% (from the 1st January 2014) is deducted at source by deposit takers (e.g. banks, building societies, Credit Unions, Post Office Savings Bank, etc.) from interest paid or credited on deposits of Irish residents.

                  Irish Revenue

                  We all get a lot out of lotteries!

                    HaveABall's avatar - rocket

                    United States
                    Member #72448
                    March 18, 2009
                    1227 Posts
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                    Posted: September 24, 2014, 3:45 pm - IP Logged

                    Our federal government is pretty close with a top tier rate of 39.6% but you may also have to factor in the states cut if you happen to live in a state that charges an income tax.

                    Hi Skibunnylk, my comment wasn't about an Ireland Legal Citizen's Income Taxes.  Just their way higher 40% Savings Interest/Dividends Taxes.

                    Anyhow, in regards to Ireland's Legal Citizen Income Taxes, at 51% Income Tax Rate, they still pay more than 95% of U.S. of A. Legal Citizen Income Tax payers. 

                    I don't know if Ireland Residents (legal, illegal or visa) additionally pay a "Sales Tax" and "Food Tax" when purchasing items at a local store.

                    Cheers mate! Cheers

                    Having several millions of dollars in my financial accounts means receiving several valuable services each day!

                    Disney