Welcome Guest
Log In | Register )
You last visited December 4, 2016, 1:02 am
All times shown are
Eastern Time (GMT-5:00)

Retired NY principal claims $326M lottery jackpot

Topic closed. 64 replies. Last post 2 years ago by CashCrown.

Page 4 of 5
52
PrintE-mailLink
mikeintexas's avatar - tx avatar-1.gif
Texas Panhandle
United States
Member #136843
December 20, 2012
1262 Posts
Offline
Posted: January 13, 2015, 11:59 am - IP Logged

I hope he does not just hand it over to his children and grandchildren. Maybe give then $100,000 each, for those under 25 on their 25th birthday. Live on the rest and when he and his wife pass on, the remaining money to go to a charity.

I've given some thought to that scenario; my own situation would be different since I have no children, but I would give my kinfolk the max $14k/yr and tell them I'll probably keep doing that until I die, but also inform them the bulk of my estate will go to the foundation I have set up in my grandmother's name...even though I WILL have willed them substantial money.  I don't think any of my nieces or nephews would murder me for their inheritance, but I've been around long enough and have read more than enough to realize that some desperate people will do horrible things for even fairly small amounts of money.  Also, with the annual gift, they might not be so apt to pull the plug if there's a chance I could recover.


A people that elect corrupt politicians, impostors, thieves and traitors are not victims...but accomplices.
 - George Orwell


    United States
    Member #156369
    June 16, 2014
    570 Posts
    Offline
    Posted: January 13, 2015, 1:00 pm - IP Logged

    not always pero es hermosa...(but it's beautiful!)

    many won by electing their own numbers,as i do!

    Then at times i choose a few add'l quick pick,so nice,early 80s,seem like a great healthy couple

    so they can enjoy HAWAII and with their kids,grandchildren maybe a few great-grandkids by now

    so beautiful to see this ...

    adios

    Felicidades todo!!!(CONGRATS!!!)Cheers


      United States
      Member #156369
      June 16, 2014
      570 Posts
      Offline
      Posted: January 13, 2015, 1:02 pm - IP Logged

      CHARITY,why would he do that.

      CHARITY begin at HOME with his NY familia,and all over,wherever he has "good family members at."

       

      Donate some maybe pero,familia es numero uno adios...

       

      CONGRATS!!!!!!!!!Cheers

        Avatar
        NY
        United States
        Member #23835
        October 16, 2005
        3474 Posts
        Offline
        Posted: January 13, 2015, 1:33 pm - IP Logged

        "I don't think any of my nieces or nephews would murder me for their inheritance"

        There's a fair amount of truth in the adage that money brings out the worst in people. I've got a nephew who's basically a good kid, but also an accomplished f-up. While I doubt I'd have to worry about him, I wouldn't trust that he'd never have a friend that's that stupid.

        If I won a large amount I'd give some to plenty of friends and family (remember that as of 2 weeks ago the estate tax exemption lets you gift $5.43 million in addition to the annual exclusion), but I'd make sure everyone knew that what I give them as a lump sum and/or annual gifts is all they'll ever get. That whatever I don't spend or give to charities before I die goes to charities when I do die would be worked in casually by way of telling them not to plan on anything extra down the road, and to use what they're given wisely, but making sure to deliver the message is just good planning.

        As for using that estate tax exclusion, remember that you can set up a trust to set money aside for somebody now while still preventing them from using it until later. Not having the exclusion left for your estate only matters if you die while you've still got money. Sure, we can die unexpectedly, but if you don't you should have plenty of opportunity to make charitable gifts along the way. Whether you spend it on hookers and booze or making gifts to noble causes, the goal is to have enough to last the rest of your life and spend the last dime 30 seconds before you go. Of course a bit of estate planning helps make sure you don't give a huge chunk to the IRS as a result of hoping not to die so soon.

          Avatar
          New Member
          Halethorpe
          United States
          Member #127565
          May 4, 2012
          8 Posts
          Offline
          Posted: January 13, 2015, 1:38 pm - IP Logged

          Interesting.  So you just play the lottery for charities?  this reply is to member named MYTURN

            Lucky4Life's avatar - batman14

            United States
            Member #85037
            January 7, 2010
            252 Posts
            Offline
            Posted: January 13, 2015, 1:46 pm - IP Logged

            Principals actually make a very good salary.  I never knew that until the replacement principal of our local junior high had his hiring salary published in the paper.  100K a year.  WOW! I'm sure NY pays more also.  But this way he can travel and care for his family more extensively than he could have before.  Best of luck to him.

              Bondi Junction
              Australia
              Member #57242
              December 24, 2007
              1102 Posts
              Offline
              Posted: January 13, 2015, 2:49 pm - IP Logged

              Interesting.  So you just play the lottery for charities?  this reply is to member named MYTURN

              No, but  if I was  fortunate enough to win a large sum, especially if I was 80, I would like to do some good.

               

              NOBLESSE OBLIGE

              We all get a lot out of lotteries!

                RJOh's avatar - chipmunk
                mid-Ohio
                United States
                Member #9
                March 24, 2001
                19817 Posts
                Offline
                Posted: January 13, 2015, 3:20 pm - IP Logged

                No, but  if I was  fortunate enough to win a large sum, especially if I was 80, I would like to do some good.

                 

                NOBLESSE OBLIGE

                When you win that much money there's no shortage of friends, relatives, inlaws and outlaws who can suggest ways of you doing something good(for them).

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

                  SammyJoe10's avatar - disney37
                  Middle of Nowhere NC
                  United States
                  Member #151289
                  January 12, 2014
                  428 Posts
                  Offline
                  Posted: January 13, 2015, 7:38 pm - IP Logged

                  Congrats to the lucky winners! That's a lot of money. I would definitely donate a percentage to charity. My family wouldn't have any financial hardships. Even the Bible says a good man leaves an inheritance!

                    RJOh's avatar - chipmunk
                    mid-Ohio
                    United States
                    Member #9
                    March 24, 2001
                    19817 Posts
                    Offline
                    Posted: January 13, 2015, 9:54 pm - IP Logged

                    Congrats to the lucky winners! That's a lot of money. I would definitely donate a percentage to charity. My family wouldn't have any financial hardships. Even the Bible says a good man leaves an inheritance!

                    Where does it say that?

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

                      noise-gate's avatar - images q=tbn:ANd9GcR91HDs4UJhjxO7cmeMQWZ5lB_FOcMLOGicau4V74R45tDgPWrr
                      Bay Area - California
                      United States
                      Member #136477
                      December 12, 2012
                      4104 Posts
                      Offline
                      Posted: January 14, 2015, 12:19 am - IP Logged

                      "why is the vendor payout so low?"

                      The vendor already got a commission, just like they did for every other ticket they sold. Why do they get anything extra for selling this one? What extra work did they do in selling it?

                      My question was not advocating that the NY vendors should be getting " paid more" l was merely comparing that payout for a multi million dollar jackpot in relation to what a vendor would pull down out here... that's all.For instance the Subway restaurant owner who sold the winning $400 mil plus jackpot ticket in Milpitas in Feb 2014- got a check for a Mil. California ( at present) does not tax lottery winnings, and that is a good thing.Big Smile

                      People who say it cannot be done should not interrupt those who are doing it- George Bernard Shaw.

                        Avatar
                        Portland, OR
                        United States
                        Member #145973
                        August 20, 2013
                        226 Posts
                        Offline
                        Posted: January 14, 2015, 10:19 am - IP Logged

                        I can't post with Palemoon browser Todd.  Writing box doesn't show.

                        Anyway, if showing my face is required, I'd hire the best making artist there is and completely disfigure my face.  Long hair, moustache, tanned skin, the works.

                        "Understand... people are more complicated than the masks they wear in society... everyone is playing to win, and some people will use moral justifications to advance their side"

                                                                                                                                                                                  Robert Greene

                          Arrowhead's avatar - underground
                          Ohio
                          United States
                          Member #120754
                          December 27, 2011
                          294 Posts
                          Offline
                          Posted: January 14, 2015, 8:39 pm - IP Logged

                          I hope he does not just hand it over to his children and grandchildren. Maybe give then $100,000 each, for those under 25 on their 25th birthday. Live on the rest and when he and his wife pass on, the remaining money to go to a charity.

                          Wow. To each their own, I suppose, but rest assured my children would get the bulk of a JP winner like this passed down to them in some form...a trust, whatever.

                          Yes, there'd be a large chuck for various charities, a helping hand for local businesses and services, etc. There's plenty in a JP this size to go around.

                          But just $100,000 to each kid and the rest to people/faceless organizations you don't know?

                          That's certifiably insane, in my humble opinion.

                            Gleno's avatar - Lottery-001.jpg
                            New Jersey
                            United States
                            Member #80354
                            September 25, 2009
                            705 Posts
                            Offline
                            Posted: January 15, 2015, 9:43 am - IP Logged

                            The Mega Millions jackpot for 01/16/15 is now a whopping $270M.

                            Only need one ticket to be "in the game".

                            Wink

                              OldSchoolPa's avatar - Lottery-057.jpg
                              Gurnee, Illinois
                              United States
                              Member #49731
                              February 12, 2007
                              917 Posts
                              Offline
                              Posted: January 15, 2015, 4:25 pm - IP Logged

                              More than anything else, I love to see a picture of the winning ticket. Quick pick #2 was the winner.

                              Congratulations Mr Diamond. I'd change my name to be Mr PlatinumLOL

                              Diamonds are valued higher than platinum...at least if you are a Medallion member with SkyTeam. Diamond Medallion is the top elite level and Platinum is second. So no change of name is necessary to be considered top dog. Now it is time for a 44 year old honest hard working stiff like myself to win.

                              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!