Welcome Guest
Log In | Register )
You last visited December 2, 2016, 7:21 pm
All times shown are
Eastern Time (GMT-5:00)

POWERBALL CREATES WORLD'S FIRST BILLION-DOLLAR JACKPOT

Topic closed. 567 replies. Last post 11 months ago by AbsolutelyFun.

Page 38 of 38
4.97
PrintE-mailLink
sirbrad's avatar - Lottery-062.jpg
PA
United States
Member #22983
October 6, 2005
2226 Posts
Offline
Posted: January 12, 2016, 11:48 pm - IP Logged

Yeah, but the other side of the coin... few are going to buy a MM ticket for awhile @ 15M

And once this JP is won... lotto fever (increased sales) isn't going to happen until the JP nears 1 Billion again.  Remember when folks got excited when a JP hit 200 or 300 Million?

So they better be making billion $ jackpots regularly or players will see (again) another matrix change Puke

People will still play otherwise the jackpots would never get up that high. It might just take longer. But most of those types are idiots, I will gladly take $15 million and up even less. I would prefer a lot more to be REALLY secure but I still play when it is "low". LOL

    sirbrad's avatar - Lottery-062.jpg
    PA
    United States
    Member #22983
    October 6, 2005
    2226 Posts
    Offline
    Posted: January 13, 2016, 12:20 am - IP Logged

    False advertising.. Not really a billion dollar jackpot when you're ending up with less after you win.

    It is not false advertising if you know how it works and ready the fine print. Many don't though. That amount is if you take the annuity. But if people do not look into it more carefully it is their own fault. Nonetheless I highly doubt they would be complaining after the taxes are taken out. If they do they are REALLY greedy and have issues. They would still have more money than anyone has ever won and a lot more money than most. You should know the rules before you play.

      sirbrad's avatar - Lottery-062.jpg
      PA
      United States
      Member #22983
      October 6, 2005
      2226 Posts
      Offline
      Posted: January 13, 2016, 12:26 am - IP Logged

      Quick picks are randomly generated at the terminal I believe.

      I've always wondered if duplicate QP tickets can be generated... ie in the case of multiple winners, always thought multiple winners resulted from self picks

      A terminal sold 7 QP's all the same. Seems like some type of error or rigging. Pretty odd won't let me post the link or photo which is stupid. Look up

      Texan Buys Seven (7) Quick Picks ...

      Receives 7 Identical Tickets ...

        sirbrad's avatar - Lottery-062.jpg
        PA
        United States
        Member #22983
        October 6, 2005
        2226 Posts
        Offline
        Posted: January 13, 2016, 1:33 am - IP Logged

        For anyone thinking of taking the annuity I highly recommend the book:

        Money for Nothing: One Man's Journey through the Dark Side of Lottery Millions By Edward Ugel

        For about 10 years he worked for one of those companies that bought annuities from lottery winners.  The book has some funny moments but it overall made me sick and sad to see how these people were hounded.  The reason I recommend it, though, is so people can get a sense of what the people who have annuities face and why they decided to sell their annuities.  I don't think that there is one right solution for everyone but in making such an important decision I always find it helpful to hear/read about the experiences of those that have been there, done that.

        My one big take away from the book...annuity, cash it doesn't matter.  Learn how to say NO to even those you love dearly.

        Those are minority circumstances tough and MUCH lower annuities. One would have to be REALLY stupid to burn through that much money. For me I would be set for life after the first check, the rest would be all gravy. I have been self-employed for 25 years and used to work a bank so my only team will be ME as there is an M and E in team. LOL This annuity is astronomical and one payment alone is higher than the MM starting jackpot. You will getting WAY more than anyone else ever did with this annuity and more than most have gotten in cash payments when the jackpot was lower. I would never spend a fraction of it and would always love the fact that I got an average of $38 million a year coming for 29 more years. Tough to even wrap your head around that. I would keep doing all that I am not but on a higher scale, and a lot more vacation and fun time. I would be spending a lot of time on the golf course and probably buying it or building my own. I also would have to worry about where to put that huge cash option and risky investments. I could still make a ton of money on interest if I wanted but would not be necessary unless I decided I wanted to get my net worth up in the several billions or more range. But at this point it would not make much difference lifestyle wise. I will be set for life after year one.

          Avatar

          United States
          Member #171275
          January 5, 2016
          105 Posts
          Offline
          Posted: January 13, 2016, 3:29 am - IP Logged

          those people would thumb up their nose at you trying in infiltrate their inner circles. those people built up their wealth gradually. you can't hit a lottery and just jump into that societal lifestyle. sure, you could buy a yacht. but you wouldn't use it more than once more than likely. it would be something completely foreign to you. and do you drive a yacht or is it steered or piloted. you could move to a gated community, sure. but the haves that already live there would ignore a johnny come lately lottery winner with no pedigree such as you would be. is your plan to dump all the less affluent people that you now know and try to hob nob with the rich. it just wouldn't work. you would end up going back to your old life and find out they really wouldn't be that enamored with you either. you might as well buy an island as you will feel a sense of isolation after winning this. good thing for you that it will not happen.

          Again, thanks for your reply.  I would like to quote what you said in your initial post, ".....look, it's fun to dream and plan but so far no one on here has the remotest idea of what to do with 800 million. 5 months in and you would be saying i would have been happier with 10 million. that maybe i could handle"

          At first I thought that we were discussing whether anyone here (your words were "...no one here has the remotest...") had the remotest idea of what to do with $800M. 

          I've stated my reply to that and now you come back with what is #1. not a reply that has anything to do with your initial point and #2. is now becoming a personal attack.

          So let's just end this here especially since you stated "good thing for you that it will not happen." then that being the case all of what you wrote in your reply above is moot AND not relevant to the initial discussion. Think about it........(why do I get the feeling this isn't the end, LOL)

            sirbrad's avatar - Lottery-062.jpg
            PA
            United States
            Member #22983
            October 6, 2005
            2226 Posts
            Offline
            Posted: January 13, 2016, 3:32 am - IP Logged

            Can someone clear something up about taxes?  If you take the lump sum, they take out 25% then give you the check no?  What about the 39.6%? Do you owe that next year?

            If you take the annuity, if the fed interest skyrockets, do they up your checks to make up for the difference?

            Also, in the unlikely event the lottery (pb for example) goes bankrupt in 5 years, and you won this year and opted for the annuity, what happens to your future checks?

            Lastly, if more than one winner wins and one opts for annuity while the other chooses lump sum, what figure do they split?

            Funny how so many only focus on the potentially negative and taxes, even though the chances of of things happening is minuscule. Not to mention you should already have more money than you will ever need after  a year and on anyway unless you are a complete idiot.  Chances are you will get every payment as it is shown with a 5% increase every year. I don't give a crap about the taxes, I am thinking about how much money I will have after them regardless of what method I take. The PB is not going to go bankrupt, look how much money it makes and how long it has been going on. So this kind of obsessive negative thinking is totally necessary. People are more worried about the taxes than the HUGE principle left. The amount is just so high that it is warping people's minds. But most likely everything will be fine, REALLY fine.

              sirbrad's avatar - Lottery-062.jpg
              PA
              United States
              Member #22983
              October 6, 2005
              2226 Posts
              Offline
              Posted: January 13, 2016, 3:47 am - IP Logged

              There are three episodes listed for Saturday morning. Love that show. I particularly like the story of the youngest jackpot winner in Florida's history. After the deposit was made to his account, he said he spent the whole afternoon calling the bank's automated system, listening to his balance, hanging up, repeating. I could see myself doing that.

              By the way, with ~6,900 banks in the U.S., and assuming we go back to $100,000 FDIC insurance, we're getting really close to not having enough banks to put the cash payout in. Something to think about.

              I would do that also lol. "You have one billion dollars." In a choppy computer voice. LOL Nice I will be watching those shows again! I would put it all in my bank so I cold watch it easier or get a CDAR to be insured up to $50 million. But I am not worried about my bank as they have been around a long time and have a high rating and about a billion net worth already. I would just double it. LOL But if I took the annuity I would a check coming every year and would be set after the first year anyway. So with that much money I don't need to invest. Also less taxes if I don't. But I would make those deicsions later.

                sirbrad's avatar - Lottery-062.jpg
                PA
                United States
                Member #22983
                October 6, 2005
                2226 Posts
                Offline
                Posted: January 13, 2016, 3:54 am - IP Logged

                I wonder how sales of the $15M Mega Millions lottery are doing this week.

                Mega who??  ROFL

                  sirbrad's avatar - Lottery-062.jpg
                  PA
                  United States
                  Member #22983
                  October 6, 2005
                  2226 Posts
                  Offline
                  Posted: January 13, 2016, 3:56 am - IP Logged

                  Actually I was hoping to win the big MM the other night so I would be completely anonymous but someone else got it.  LOL I play MM more than Powerball because of the $1.00 price and better odds. But when it is so high, or historically high like now I play PB just for the fun of it.

                    sirbrad's avatar - Lottery-062.jpg
                    PA
                    United States
                    Member #22983
                    October 6, 2005
                    2226 Posts
                    Offline
                    Posted: January 13, 2016, 4:38 am - IP Logged

                    $800 million? Nobody will get $800 million unless you're referring to the Annuity.  If you're in a no tax state you gotta give Uncle Sam 39.6%. The current Cash Option is $868M so multiply that by .604 (60.4%) and you get $524,272,000 Million.

                    So lets' get spending!

                    Now assuming I want to spend my money like a madman, I would buy that beautiful home in Beverly Hills for $85,000,000 (you can see it on YouTube) I can't even imagine what the property taxes are but it must be insane. The upkeep has to be expensive too. Will need a maid and yard man at a minimum so more expenses.  Also need some seriously good insurance in case my home falls off of that hill it's on.  Still got $442.272M (actually less because of unknown expenses)

                    Next buy that yacht I always wanted and since I'm rich so I'll get that Italian yacht called the Quinta Essentia at 180 foot long for a measly $41,146,434. Again I'll need a crew to both maintain the yacht and to drive it around wherever I want to go.  Also will need at least one maid/server/hostess who has to be pretty so that my friends really enjoy the cruises we go on. Oh and a first mate like they had on Gilligan's Island so minimum is the Captain, First Mate, Hostess and a maintenance crew. Dunno what that costs but I'm sure it's not cheap.  Oh and of course gotta gas her up with diesel fuel so add on the fuel expense and also the insurance on my boat in case it catches on fire or sinks or something. Now still got $398,125,566 (well actually less because of unknown expenses)

                    Next gotta fill up that incredible glass garage in my $85M home with some exotic cars.  Buggati Veyron $2.8M, Ferrari's La Ferrari $1.4M Lamborghini Aventador Pirelli Edition $400K, Aston Martin Vanquish Carbon Edition $350K and a Mercedes Pullman Limo $600K

                    Again, need insurance for these toys and the total is $5.55M now I got $392,620,566 (again actually less gas costs & maintenance)

                    Since I am rich I will get me one of those nice global private jets, a Bombardier 850 for $32M so again huge insurance and jet fuel and maintenance plus FAA checkups.  Dunno the price on those are but it's gotta be high.  Still got $360,620,566.

                    I have already spent $163,651,434 (actually more) probably closer to $200,000,000.  So that leaves me with $324,272,000.  Maybe I'd be smart to stop so that I can earn interest on that because the expenses are getting crazy and I still haven't got a wife that wants to divorce me and take half.

                    Of course there are those smaller expenses that come with having the best of everything.  New cats and dogs. Love those Savannah cats so I'll get two of those,  $40,000 total.  Couple of Goldens at least $6000.  Vet bills: Unknown, Food bill negligible.

                    I want the best beds money can buy, I like that Majesty VI-Spring Bed for $85K each. One for each for the bedrooms in my new $85M home.

                    Oh that reminds me, a vacation home in Hawaii. Just a couple of bedroom condo will work for me.  Easily $1.5M ocean view, what else?  Add two more beds at $85K each.

                    I like that Beovision 4-103 TV by B&O for $135,000.  At least a few for my new home and one for the Hawaii condo. That's over a half million.

                    Also I will need at least one or more personal assistants that are trustworthy. That could really cost because I need smart people who I can trust to execute my decisions and dependable.

                    So I'll stop there but when you say that no one here has the remotest  idea of what to do with $800M trust me I can spend it all if i really want to and it certainly would be fun.  Let us not forget that there are a lot of people out there who need a hand up so charity is something that if I had $800 million I'd start a Foundation to help those who are less fortunate/have special needs/our veterans who are struggling/help animals I care about and the list goes on and on and on.  It really is NOT so difficult to spend all that money, trust me as I've thought about what one can do with millions. 

                    I will say that short of being a madman I'd most enjoy helping others through my foundation much like other very wealthy people do.  It's not all about you once you're THAT wealthy as your needs are being met.  It's like Eddie Murphy said in his comedy act, "making ends meet? the ends are meeting like a bleep bleep" when he was speaking of Johnny Carson being worth $300 million.

                    Or the $195,000,000 one which they say they can't imagine anyone affording except Donald Trump. Well they could now! LOL  Personally I would never get a house THAT big or THAT expensive. I would be happy with the ones in my area living on the golf course for $500,000-$1,000,000 tops. Some are huge too compared to what I am used to.  I would just have a lot of expensive toys inside. Yes Nod I would never want to try and maintain that big of a property. Most of it I would probably only see a few times a year and never use at least 20 of the bathrooms. LOL

                     

                      sirbrad's avatar - Lottery-062.jpg
                      PA
                      United States
                      Member #22983
                      October 6, 2005
                      2226 Posts
                      Offline
                      Posted: January 13, 2016, 4:41 am - IP Logged

                        Avatar

                        United States
                        Member #171275
                        January 5, 2016
                        105 Posts
                        Offline
                        Posted: January 13, 2016, 6:42 am - IP Logged

                        Or the $195,000,000 one which they say they can't imagine anyone affording except Donald Trump. Well they could now! LOL  Personally I would never get a house THAT big or THAT expensive. I would be happy with the ones in my area living on the golf course for $500,000-$1,000,000 tops. Some are huge too compared to what I am used to.  I would just have a lot of expensive toys inside. Yes Nod I would never want to try and maintain that big of a property. Most of it I would probably only see a few times a year and never use at least 20 of the bathrooms. LOL

                         

                        Yeah that home in your video is pretty much over the top unless you frequently have guests over and like to throw parties and/or you have a monster sized family who could use the space.  Living in a home like that with say a typical American family would be overkill otherwise not to mention the maintenance like you mentioned.  The other consideration is that assuming you walk away after paying all your taxes due from your JP and you only have $500 Million then $195 is spending way more than you should. 

                          Avatar

                          United States
                          Member #171275
                          January 5, 2016
                          105 Posts
                          Offline
                          Posted: January 13, 2016, 6:43 am - IP Logged

                          Mega who??  ROFL

                          MegaPowerball that's who!

                             
                            Page 38 of 38