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$900 MILLION: Powerball lottery jackpot to create unimaginable wealth

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

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Florida
United States
Member #61435
May 22, 2008
908 Posts
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Posted: January 9, 2016, 4:24 pm - IP Logged

Will it be ?????

 

    Groppo's avatar - cat anm.gif

    United States
    Member #162631
    January 7, 2015
    506 Posts
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    Posted: January 9, 2016, 4:27 pm - IP Logged

    Will it be ?????

     




    Too doggone funny.

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      Wyomissing, PA
      United States
      Member #161050
      November 15, 2014
      301 Posts
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      Posted: January 9, 2016, 4:27 pm - IP Logged

      That is why they say...The estimated annuitized jackpot is....

      That way it can go either way, higher or lower.

      Putting "estimated" or an asterisk may be sufficient, but not necessarily in regards to deceptive advertising. Worse, not all Powerball jackpot advertising even includes those elements...

      For example, see NY Lottery website. http://nylottery.ny.gov/ - "NEXT JACKPOT: $900 MILLION". Notice what's not included next to the $900 million. No "estimate", no asterisk, nothing. At first glance, it appears the Powerball jackpot is definitely $900 million. And that's just one example out of many.

        HoLeeKau's avatar - YheaShea
        Idaho
        United States
        Member #94283
        July 17, 2010
        2284 Posts
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        Posted: January 9, 2016, 4:29 pm - IP Logged

        No apparent lotto fever in Idaho?

        WOW!

        What does happen in Idaho, besides potatoes?

        What happens in Idaho stays in Idaho.

        Mainly because happenings are so dang boring that you can't pay someone to even listen to you tell about what happened, let alone spread gossip about what happened.

        Quick illustration.  For NYE Idaho has a potato drop.  Yes, we molded a humongous <snip> potato out of foam rubber and at the stroke of midnight it drops off a crane or something while everyone cheers.

          TheMeatman2005's avatar - lightening
          Brooklyn, NY
          United States
          Member #169723
          October 29, 2015
          879 Posts
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          Posted: January 9, 2016, 4:31 pm - IP Logged

          Over half doesn't go to taxes.

          You get the estimated amount only if you take the annuity. 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.

          Federal tax of 25% and part of the state taxes is withheld from the payment. When you file your 1040 tax form, you will have to pay the difference. That would be 14.6% (federal maximum tax of 39.6% - 25% which was deducted from payment) plus remaining state and or local taxes.

          Any way you look at it, you will end up with about 51-60.4% of whichever payment method you choose.

          The Meatman

          “The quickest way to double your money is to fold it in half and put it in your back pocket.” Will Rogers

          Winning happens in a flash, Like A Bolt Of Lightning!  Patriot

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            New Member
            Texas
            United States
            Member #171455
            January 8, 2016
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            Posted: January 9, 2016, 4:31 pm - IP Logged

            No apparent lotto fever in Idaho?

            WOW!

            What does happen in Idaho, besides potatoes?

            Hot Idaho girls flirting with you.

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              New Member
              Alabama
              United States
              Member #171517
              January 9, 2016
              9 Posts
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              Posted: January 9, 2016, 4:32 pm - IP Logged

              Greetings ...

              BTW -- This is my very post as a Lottery Post member

              I'm hoping that those wanting to see a super-humongous single winning ticket will have a wicked curve thrown at them tonite. In what way, you ask?

              Simple -- let there be at least 10 winning tickets and possibly as many as 20 winners when it's all done. Of course, I'd like to be one of those 10 to 20 lucky winners.

              I'm sure that other posters have posted up sound advice for those lucky enough to win all or a part of the PowerBall Grand Prize elsewhere, but if not minded I think it's only fair to give it out again.

              If you win --

              »1» Don't tell anyone other than your legal and financial advisors. If you're part of an office pool or family group who are sharing the winning ticket with you, then they are the only non-legal folks who need to know

              »2» Establish a legal trust (either for yourself alone or with those mutually agreeing to share the prize). In many states, a trust may help to to keep you (and others) anonymous, thus protecting your identity. Of course you should always  check out the specific rules in play for the state where you are claiming your winning ticket.

              »3» Spend no more than 10% (less than that would be great) of your after taxes share within the first year. At least 65% of what is not spent should go into special reserve accounts, while at least 35% of what is not spent should go into a cash flow account. The purpose of the cash flow account is to place a fixed amount of money into regular bank accounts each month. Your lifestyle should be simple, non-extravagant  and a rigidly fixed flow of cash should help keep you on a straight and narrow path.

              That's about it.
              Thanx-A-Lot and best of luck to all,
              Frank0Sport16

                OldSchoolPa's avatar - Lottery-057.jpg
                Gurnee, Illinois
                United States
                Member #49731
                February 12, 2007
                917 Posts
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                Posted: January 9, 2016, 4:32 pm - IP Logged

                Inquiring minds are wondering if Marie Holmes is blowing the rest of her Mega Millions winnings in an effort to win Powerball?!

                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!

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                  Pennsylvania
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                  Member #152528
                  February 17, 2014
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                  Posted: January 9, 2016, 4:34 pm - IP Logged

                  If you take the lump sum, they take 25% out in taxes before you even get it, then the following April, it's something like another 15%, provided you live in a state with no taxes or one that doesn't tax lottery winnings and provided you're the only winner, you come home with roughly $355,725,000. I don't know about anyone else, but I wouldn't complain.

                    travelintrucker's avatar - morph
                    Greenville, SC
                    United States
                    Member #169870
                    November 4, 2015
                    374 Posts
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                    Posted: January 9, 2016, 4:37 pm - IP Logged

                    My birthday is in January as well.

                    May the balls bounce in your favor!

                      music*'s avatar - nw bookeep.jpg
                      Happy California
                      United States
                      Member #157856
                      August 2, 2014
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                      Posted: January 9, 2016, 4:37 pm - IP Logged

                       Texas lottery official said the "billion" word. Gary Grief has said on CNN with Poppy Harlow that if it rolls then a conservative estimate would be $1.3 Billion dollars for Wednesday night. I think he is being too conservative. I guess that is normal for lottery officials.

                       I will not be surprised if tonight we are playing for a billion.

                       I've been rich and I've been poor. Believe me, rich is better. 

                       Attributed to Joe E. Lewis and others

                        whiteballz's avatar - Lottery-015.jpg
                        Nutley, New Jersey
                        United States
                        Member #131058
                        August 1, 2012
                        875 Posts
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                        Posted: January 9, 2016, 4:38 pm - IP Logged

                        Anyone still think the matrix change was a bad idea?

                        .

                          Romancandle's avatar - moon
                          Upacreek
                          United States
                          Member #136306
                          December 8, 2012
                          428 Posts
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                          Posted: January 9, 2016, 4:38 pm - IP Logged

                          Greetings ...

                          BTW -- This is my very post as a Lottery Post member

                          I'm hoping that those wanting to see a super-humongous single winning ticket will have a wicked curve thrown at them tonite. In what way, you ask?

                          Simple -- let there be at least 10 winning tickets and possibly as many as 20 winners when it's all done. Of course, I'd like to be one of those 10 to 20 lucky winners.

                          I'm sure that other posters have posted up sound advice for those lucky enough to win all or a part of the PowerBall Grand Prize elsewhere, but if not minded I think it's only fair to give it out again.

                          If you win --

                          »1» Don't tell anyone other than your legal and financial advisors. If you're part of an office pool or family group who are sharing the winning ticket with you, then they are the only non-legal folks who need to know

                          »2» Establish a legal trust (either for yourself alone or with those mutually agreeing to share the prize). In many states, a trust may help to to keep you (and others) anonymous, thus protecting your identity. Of course you should always  check out the specific rules in play for the state where you are claiming your winning ticket.

                          »3» Spend no more than 10% (less than that would be great) of your after taxes share within the first year. At least 65% of what is not spent should go into special reserve accounts, while at least 35% of what is not spent should go into a cash flow account. The purpose of the cash flow account is to place a fixed amount of money into regular bank accounts each month. Your lifestyle should be simple, non-extravagant  and a rigidly fixed flow of cash should help keep you on a straight and narrow path.

                          That's about it.
                          Thanx-A-Lot and best of luck to all,
                          Frank0Sport16

                          Howdy Frank

                          Wicked curve ball at all those dreamers?  Ouch Frank

                          So it's simple- can you back that up with some facts and figures... 10-20 seems kinda high to me Disapprove

                          -RC

                            dallascowboyfan's avatar - tiana the-princess-and-the-frog.jpg
                            Oklahoma
                            United States
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                            November 12, 2009
                            6290 Posts
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                            Posted: January 9, 2016, 4:39 pm - IP Logged

                            WOW!!!!$900 million !!!! Thud

                            I Love Pink & Green 1908

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                              Simpsonville
                              United States
                              Member #163189
                              January 22, 2015
                              677 Posts
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                              Posted: January 9, 2016, 4:40 pm - IP Logged

                              Keep waiting for Todd to announce it has gone to $1 Billion.  Maybe they won't allow since all the LED signs I've seen in surrounding states only have three spots available!

                                 
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