Welcome Guest
Log In | Register )
You last visited December 4, 2016, 7:21 pm
All times shown are
Eastern Time (GMT-5:00)

$900 MILLION: Powerball lottery jackpot to create unimaginable wealth

Topic closed. 397 replies. Last post 11 months ago by sirbrad.

Page 10 of 27
511
PrintE-mailLink
rustysmom's avatar - Lottery-031.jpg
ohio
United States
Member #706
September 14, 2002
712 Posts
Offline
Posted: January 9, 2016, 5:29 pm - IP Logged

Curious if you match 5 numbers and win 1M ,, Is that the actual value of prize or is the actual cash value lower like in scratch off game (Say for instance 670k) and then after taxes you end up with well under half mil?


Or is that 1M the actual prize and after taxes you end up with 650k or so?

actual amount

    slotsarefun's avatar - appleboy
    Cleveland Ohio
    United States
    Member #52505
    May 28, 2007
    330 Posts
    Offline
    Posted: January 9, 2016, 5:30 pm - IP Logged

    I don't care what I owe in taxes!!!?? It would be more than what I started my day with!

      ekem6078's avatar - winter
      TN
      United States
      Member #88776
      March 23, 2010
      2204 Posts
      Offline
      Posted: January 9, 2016, 5:37 pm - IP Logged

      I have a feeling that the jackpot will be won tonight!

      Party  Party   PartyParty  Party

      I Agree!

        Groppo's avatar - cat anm.gif

        United States
        Member #162631
        January 7, 2015
        502 Posts
        Offline
        Posted: January 9, 2016, 5:41 pm - IP Logged

        I don't care what I owe in taxes!!!?? It would be more than what I started my day with!

        Yes, I agree.  But everyone must pay taxes.
        Don't neglect your taxes. Take care of your tax
        situation asap.



        Leave nothing out there, that could cause a snag.

          Groppo's avatar - cat anm.gif

          United States
          Member #162631
          January 7, 2015
          502 Posts
          Offline
          Posted: January 9, 2016, 5:42 pm - IP Logged

          I Agree!

          I Agree!

            Guru101's avatar - rw6jhh
            Indiana
            United States
            Member #48725
            January 7, 2007
            1953 Posts
            Offline
            Posted: January 9, 2016, 5:44 pm - IP Logged

            You said:

            "If you take lump sum, you get a one-time cash payment of what the lottery would have invested on your behalf to generate the annuitized value over 29 years."

            I'm confused because:

            1) I thought that if the winner took the one-time lump sum payment, they got what was in the JP from players that bought tickets, which is what builds the JP.

            2) I thought the annuity payments included the estimated JP, which of course includes the interest earned over 29 years AND the ticket sales.

            What I'm asking is this:

            Why would the one-time lump-sum payment consist of the interest from the annuity payments, instead of the amount collected from the actual ticket sales?

            What you said above just doesn't make sense to me. (I'm not saying you are wrong) I'm just confused, as I thought I understood the JP payout(s) as I just explained.

             

            Thanks and Good Luck tonight!

            Joe, you're thinking of it backwards. The cash value isn't determined by the annuity value. The annuity value is determined by the cash value.

            Gonna win.Big Smile

              Piaceri's avatar - sarsony1
              Republic of Texas
              United States
              Member #57557
              January 9, 2008
              1095 Posts
              Offline
              Posted: January 9, 2016, 5:46 pm - IP Logged

              If they bump it I'm buying 2 more tickets, 1 cash option, 1 annuity just so I can have a ticket that says $1,000,000,000.

               

              Good luck to all tonight!

               

              DancePartyHyperBananaPartyHurray!Dance

               

              Group Hug

              face

              singlewinnersinglewinnersinglewinner   

                Avatar
                Texas
                United States
                Member #82092
                November 5, 2009
                70 Posts
                Offline
                Posted: January 9, 2016, 5:46 pm - IP Logged

                I think she won Powerball not Mega Millions

                  Avatar
                  Chicago
                  United States
                  Member #171107
                  December 31, 2015
                  77 Posts
                  Offline
                  Posted: January 9, 2016, 5:47 pm - IP Logged

                  actual amount

                  Thank You


                  So if you mach 5 after taxes you still come out with decent chunk (650k or so)

                  Obviously not enough to quit working/etc but more then enough to buy a small home and get some financial stability short term

                    Avatar
                    Simpsonville
                    United States
                    Member #163189
                    January 22, 2015
                    668 Posts
                    Offline
                    Posted: January 9, 2016, 5:52 pm - IP Logged

                    Curious if you match 5 numbers and win 1M ,, Is that the actual value of prize or is the actual cash value lower like in scratch off game (Say for instance 670k) and then after taxes you end up with well under half mil?


                    Or is that 1M the actual prize and after taxes you end up with 650k or so?

                    Depends on state tax what you'd get for five #'s; however that is a good ballpark figure.  I'd pay the house off and quit my job since I get an Army pension anyway for incidentals.  Good luck

                      sookie's avatar - nw femalewiz.jpg

                      United States
                      Member #142686
                      May 17, 2013
                      94 Posts
                      Offline
                      Posted: January 9, 2016, 5:53 pm - IP Logged

                      Ok I got my tickets, I have my plans together for the next few days. I know how much my parents and siblings get. I'm ready!

                        ekem6078's avatar - winter
                        TN
                        United States
                        Member #88776
                        March 23, 2010
                        2204 Posts
                        Offline
                        Posted: January 9, 2016, 5:56 pm - IP Logged

                        I'm thinkin this won't roll.  As strong as sales are, probably EVERY number combination available has been sold.  I wonder how many winners there could be.  If birthday numbers are drawn I wouldn't be shocked to see up to 25 jackpot winners.

                        "If birthday numbers are drawn I wouldn't be shocked to see up to 25 jackpot winners."  That's why it's best not to play birthdays are anniversaries numbers, you will be sharing the jackpot if others win.   Better to get Q-Picks.

                          Romancandle's avatar - moon
                          Upacreek
                          United States
                          Member #136306
                          December 8, 2012
                          428 Posts
                          Offline
                          Posted: January 9, 2016, 5:57 pm - IP Logged

                          Thank You


                          So if you mach 5 after taxes you still come out with decent chunk (650k or so)

                          Obviously not enough to quit working/etc but more then enough to buy a small home and get some financial stability short term

                          If you powerplay... You could win 2 million in that scenario...

                          -RC

                            Avatar

                            United States
                            Member #163996
                            February 15, 2015
                            68 Posts
                            Offline
                            Posted: January 9, 2016, 5:57 pm - IP Logged

                            I gave in a bought some more tickets today.

                             

                            I wonder if Bill Gates or Warren Buffet thinks this billion is "chump-change."   Anyone want to change their name to "Chump"?

                            LOL

                              Avatar
                              New Member
                              TX
                              United States
                              Member #171447
                              January 8, 2016
                              2 Posts
                              Offline
                              Posted: January 9, 2016, 5:57 pm - IP Logged

                                 I spent $12 on the Powerball tickets. I just want to pay off my debts and those of my loved ones (student loans, medical bills, credit cards) just to be free from debt. If I could be lucky to be the sole winner, who knows, it might happen.Spending the money on expensive items will not be a priority of mine .Thinking on how to invest the money properly and being able to go back to school to further my education and becoming comfortably self-employed/employer would be a dream of mine.

                               

                                 To everyone who has a negative connotation about taxes, I sympathise with you and, understand your complaints but, think about it, this is a TITANIC lottery jackpot ,while many do not necessarily agree about the taxes being taken off of the lump sum, the take home amount does outweigh the investment, provided it is an investment that you are comfortable to part with. Good Luck to all and who knows, we might get to the desired  $1 billion mark before tonight's draw.

                                 
                                Page 10 of 27