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California nail technician wins $228M Powerball jackpot

Topic closed. 57 replies. Last post 2 years ago by txn0002.

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Igamble's avatar - spider
nj
United States
Member #145657
August 10, 2013
974 Posts
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Posted: September 27, 2014, 2:58 pm - IP Logged

 am happy for V. Nguyen win ,now he can go to a nail salon  himself and say - Do my nails b...h !Wink

    Goteki54's avatar - Lottery-007.jpg
    Baltimore, MD
    United States
    Member #143332
    May 30, 2013
    398 Posts
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    Posted: September 27, 2014, 5:49 pm - IP Logged

    If the jackpot is big and I hit it, I  would also take the annuity. Getting 4.3 million a year after taxes for 30 years is fine by me. I would never have to worry about being broke. for 30 years. I can blow through $4.3 million and still have another $4.3 million  deposited in his account the next year and the following year and on and on and on.Big Grin

    Following the trends and patterns means following the money!Banana

      noise-gate's avatar - images q=tbn:ANd9GcR91HDs4UJhjxO7cmeMQWZ5lB_FOcMLOGicau4V74R45tDgPWrr
      Bay Area - California
      United States
      Member #136477
      December 12, 2012
      4108 Posts
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      Posted: September 27, 2014, 6:12 pm - IP Logged

      If the jackpot is big and I hit it, I  would also take the annuity. Getting 4.3 million a year after taxes for 30 years is fine by me. I would never have to worry about being broke. for 30 years. I can blow through $4.3 million and still have another $4.3 million  deposited in his account the next year and the following year and on and on and on.Big Grin

      l think it all boils down to choice. If one knows that you pretty reckless with money, then the annuity is the perfect present.If you blow through your stash in the 1st year, you have time to push the rest button the following year and make changes. Many of those who have ended up in bankruptcy have not been truthful with themselves about their spending habits.

      First and foremost though is to factor in your current age. If you in your 30's- NP with the annuity, 50's-60's- chances are your money will outlive you and it could end up with your wife or kids...hopefully the * kids are not potheads or serious druggies .. you could end up spinning in your grave.

        Avatar
        Georgia
        United States
        Member #158146
        August 13, 2014
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        Posted: September 27, 2014, 6:35 pm - IP Logged

        I'll take the lump sum. I might drop dead the next day.

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          taylors sc
          United States
          Member #117159
          September 28, 2011
          4 Posts
          Online
          Posted: September 27, 2014, 6:42 pm - IP Logged

          That is my powerball number and I am glad for this person to win. Maybe one day powerball 26 will come with all of my numbers.EEnjoy

            Coin Toss's avatar - shape barbed.jpg
            Zeta Reticuli Star System
            United States
            Member #30470
            January 17, 2006
            10351 Posts
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            Posted: September 27, 2014, 7:50 pm - IP Logged

            He nailed it! Congrats to the lucky guy.Cheers

            Green laugh

            Sully, you are very quick witted!

            Sidenote:

            In Vietnamese the name Nguyen is pronounced Win.

            So I guess we can say Vinh Win wins!

            Those who run the lotteries love it when players look for consistency in something that's designed not to have any.

            Lep

            There is one and only one 'proven' system, and that is to book the action. No matter the game, let the players pick their own losers.

              sully16's avatar - sharan
              Ringleader
              Michigan
              United States
              Member #81740
              October 28, 2009
              40471 Posts
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              Posted: September 27, 2014, 10:05 pm - IP Logged

              Green laugh

              Sully, you are very quick witted!

              Sidenote:

              In Vietnamese the name Nguyen is pronounced Win.

              So I guess we can say Vinh Win wins!

              lol

              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"

                Scratch$'s avatar - sm lottery.jpg

                United States
                Member #158848
                September 5, 2014
                294 Posts
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                Posted: September 27, 2014, 10:15 pm - IP Logged

                If the jackpot is big and I hit it, I  would also take the annuity. Getting 4.3 million a year after taxes for 30 years is fine by me. I would never have to worry about being broke. for 30 years. I can blow through $4.3 million and still have another $4.3 million  deposited in his account the next year and the following year and on and on and on.Big Grin

                Depends on your age, IMHO. Those 50+ might be wiser to take the lump.

                Scratchers ~ Cash 5 ~ Powerball ~ Mega Millions

                  music*'s avatar - nw bookeep.jpg
                  Happy California
                  United States
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                  August 2, 2014
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                  Posted: September 28, 2014, 12:40 pm - IP Logged

                  DohAge and health are factors in the Lump Sum v. Annuity choice.Party

                    Piaceri's avatar - sarsony1
                    Republic of Texas
                    United States
                    Member #57557
                    January 9, 2008
                    1095 Posts
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                    Posted: September 28, 2014, 1:41 pm - IP Logged

                    l think it all boils down to choice. If one knows that you pretty reckless with money, then the annuity is the perfect present.If you blow through your stash in the 1st year, you have time to push the rest button the following year and make changes. Many of those who have ended up in bankruptcy have not been truthful with themselves about their spending habits.

                    First and foremost though is to factor in your current age. If you in your 30's- NP with the annuity, 50's-60's- chances are your money will outlive you and it could end up with your wife or kids...hopefully the * kids are not potheads or serious druggies .. you could end up spinning in your grave.

                    I'm too old for the annuity, AND I like to spend. Green laugh  I'd have to take the lump sum, and have a trust dole out an allowance. Yes Nod

                     

                    Congrats to Vinh "Win" on the win!Dance

                    face

                    singlewinnersinglewinnersinglewinner   

                      dpoly1's avatar - driver
                      PA
                      United States
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                      October 16, 2008
                      1672 Posts
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                      Posted: September 29, 2014, 1:15 pm - IP Logged

                      30 year annuity

                      ROTFLOL

                      Hit With Stick

                      dpoly1 - Playing the lottery to save the jobs of those that build, transport, sell & maintain luxury items! -

                       

                      Eschew Poverty ........... Vote Conservative!

                        Drenick1's avatar - villiarna
                        USA
                        United States
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                        February 25, 2014
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                        Posted: September 29, 2014, 2:10 pm - IP Logged

                        If the jackpot is big and I hit it, I  would also take the annuity. Getting 4.3 million a year after taxes for 30 years is fine by me. I would never have to worry about being broke. for 30 years. I can blow through $4.3 million and still have another $4.3 million  deposited in his account the next year and the following year and on and on and on.Big Grin

                        The annuity isn't paid out in 30 equal payments. It is based on a graduated scale with the bulk of the payment amount coming towards the end.

                        His first year payment will be roughly $2.4 million after the current top tax rate of 39.6% is factored in. His future payment will be larger initially but the tax rate may dictate what he eventually nets which may be less if the tax rate is increased.

                        FYI, California also has a 13.3% income tax rate which has yet to be applied to lottery winnings. That may very well change in the near future as the state is suffering financially and they will seek out any means of revenue available to them.

                          Skibunnylk's avatar - Lottery-059.jpg

                          United States
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                          July 28, 2014
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                          Posted: September 29, 2014, 4:21 pm - IP Logged

                          The annuity isn't paid out in 30 equal payments. It is based on a graduated scale with the bulk of the payment amount coming towards the end.

                          His first year payment will be roughly $2.4 million after the current top tax rate of 39.6% is factored in. His future payment will be larger initially but the tax rate may dictate what he eventually nets which may be less if the tax rate is increased.

                          FYI, California also has a 13.3% income tax rate which has yet to be applied to lottery winnings. That may very well change in the near future as the state is suffering financially and they will seek out any means of revenue available to them.

                          The top federal tax rate may very well be 39.6% but that doesn't apply to lottery winnings as that is subject to a flat 25% federal deduction.

                          Not sure where you got the 13.3% California income tax rate but according to USA MEGA California doesn't have a state income tax. How can they even contemplate implementing a future state income tax when there is none to begin with?

                            Skibunnylk's avatar - Lottery-059.jpg

                            United States
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                            July 28, 2014
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                            Posted: September 29, 2014, 4:25 pm - IP Logged

                            I'll take the lump sum. I might drop dead the next day.

                            I would too! No one can predict the future so SHOW ME THE MONEY!!!

                              LottoMetro's avatar - Lottery-024.jpg
                              Happyland
                              United States
                              Member #146344
                              September 1, 2013
                              1129 Posts
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                              Posted: September 29, 2014, 5:34 pm - IP Logged

                              The top federal tax rate may very well be 39.6% but that doesn't apply to lottery winnings as that is subject to a flat 25% federal deduction.

                              Not sure where you got the 13.3% California income tax rate but according to USA MEGA California doesn't have a state income tax. How can they even contemplate implementing a future state income tax when there is none to begin with?

                              The top federal tax rate may very well be 39.6% but that doesn't apply to lottery winnings as that is subject to a flat 25% federal deduction.

                              Lottery winnings are taxed as regular income. The lottery deducts 25% upfront for Federal withholding, but in all likelihood you will pay much more because the added income will push you into a higher tax bracket. A lot of players don't realize this and that is where they get into trouble. It's better to just assume you will only net ~60% of any prize over $1 million.

                              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