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$333 MILLION: Powerball offers up summertime riches

Topic closed. 182 replies. Last post 5 months ago by music*.

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ArizonaDream's avatar - Lottery-009.jpg

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Posted: July 17, 2016, 11:15 am - IP Logged

If the low amounts of the turn overs are due to depressed interest rates, how does one explain that on Jan 2 the pot was $355 million, on Jan 6 $524 million, and on Jan 9, $949.8 million? Now, I know the last one was due to lotto fever but the jump from $355 mil to $524 mil is quite a leap. 

Incredible difference you've pointed out there. Were the January increases all due to news media hype that isn't occuring now?  Do too many people feel burned from over spending in January, so they cut back greatly on lottery buying? Did everyone figure out how bad the odds really are?  Too many people sitting out because they haven't heard the B word yet?

How many grad school physch majors will do their thesis on "lotto fever" this year?


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    Posted: July 17, 2016, 11:20 am - IP Logged

    Just wait till the Fed starts experimenting with negative interest rates like Japan has, you'll see cash values barely budge anytime there are rollovers with MM & PB.

      ArizonaDream's avatar - Lottery-009.jpg

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      Posted: July 17, 2016, 11:29 am - IP Logged

      Uhh no, I'm not crazy...I just plan on not going broke when I win lol.  Yes, $110 million is not much to live on for the rest of your life if you're a younger person.  If I were 70 years old, sure no problem.  At my age I'd probably not feel really financially comfortable unless I won some record shattering jackpot that netted me $1 billion after taxes.  It's not the 1950's anymore, you can't buy a nice home for $30,000, or a nice car for $5,000.

      Let's say you win $110 mil. Spend $10 mil on a house and round the world trips. Invest the rest at just 1% and your living on a million a year without touching the principle for the rest of your life. If inflation goes higher, you should be able to increase investment returns to keep up.

        TheMeatman2005's avatar - lightening
        Brooklyn, NY
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        Posted: July 17, 2016, 11:36 am - IP Logged

        If you look back at the Powerball payouts from just a few years ago, you will see that the cash value to annuity ratio was about 55% compared to now where it is about 69-71%.

        This means that if the cash value of the current jackpot ($250.3 mil) was figured at the same ratio from a few years ago, the annuity jackpot amount would be advertised at about $455 mil and not $361 mil.

        The average lottery players may not get as excited over a $361 mil jackpot compared to when it was over $900 mil to $1.6 bil., but us regulars know the difference with cash value vs annuity.

        It's us, the regular players, that religiously buy their tickets that feed the jackpot amount.

        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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          Posted: July 17, 2016, 11:46 am - IP Logged

          yes, you are certifiable crazy. what's wrong with winning 110 million at any age. if you're young you can continue to play (please don't say no one wins twice) for years and actually afford to play every lottery you can get to if you so desire. the idiots who don't play because it's not enough should be banned from playing if that were possible.

          Right...I could blow $110 million in 3 months or less if I really wanted to...couple of mansions, a fleet of $250K+ cars, a jet, a yacht, lavish gifts to friends and family & POOF $110 mil gone!

          Living a middle class lifestyle at most is the best way to go for lottery winners if they don't want to go broke.  buying a $500,000 home and a $50,000 car would make me worry about overextending myself even on $110 mil after taxes.

            Drenick1's avatar - villiarna
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            Posted: July 17, 2016, 11:49 am - IP Logged

            The cash value only got bumped up $13.3 million which is the lowest jump since when the PB went from $184 to $203 and featured a $12.9 million increase. During this latest rollover the annuity value jumped up $28 million when in reality it should have been $18 million to keep pace with the ratio from the previous draw.

            This is the reason why I only pay attention to the cash value because the Annuity is just a mythical number to me.

              TheMeatman2005's avatar - lightening
              Brooklyn, NY
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              Posted: July 17, 2016, 11:51 am - IP Logged

              Let's say you win $110 mil. Spend $10 mil on a house and round the world trips. Invest the rest at just 1% and your living on a million a year without touching the principle for the rest of your life. If inflation goes higher, you should be able to increase investment returns to keep up.

              I Agree!

              That 1% interest rate is only if you put your money into a ordinary bank account.

              There are other ways of earning more than 1% on your money. CDs, bonds, stock market, tax-free muni bonds, etc.

              That is why whoever wins needs professional financial advice. After all, you don't want to put all of your eggs in one basket!

              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

                Drenick1's avatar - villiarna
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                Posted: July 17, 2016, 11:51 am - IP Logged

                Right...I could blow $110 million in 3 months or less if I really wanted to...couple of mansions, a fleet of $250K+ cars, a jet, a yacht, lavish gifts to friends and family & POOF $110 mil gone!

                Living a middle class lifestyle at most is the best way to go for lottery winners if they don't want to go broke.  buying a $500,000 home and a $50,000 car would make me worry about overextending myself even on $110 mil after taxes.

                If that's the case I would really cringe to see your current living conditions.

                  Grovel's avatar - f800e6a39fbfea795d1dcbb09f2244
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                  Posted: July 17, 2016, 12:03 pm - IP Logged

                  I am glad no one won. I broke my ankle Friday night and could not get out the house to get a ticket. Unhappy


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                    Posted: July 17, 2016, 12:08 pm - IP Logged

                    If that's the case I would really cringe to see your current living conditions.

                    I live well below my means, but I have $0 debt!  I have a modest place that works for me, but I've lived in worse conditions.  I lived out of a car by choice for close to a year just so I could save $20K to put down on a place to live.

                      TheMeatman2005's avatar - lightening
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                      Posted: July 17, 2016, 12:10 pm - IP Logged

                      I am glad no one won. I broke my ankle Friday night and could not get out the house to get a ticket. Unhappy

                      OUCH!

                      Feel better soon

                      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

                        ArizonaDream's avatar - Lottery-009.jpg

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                        Posted: July 17, 2016, 12:13 pm - IP Logged

                        I Agree!

                        That 1% interest rate is only if you put your money into a ordinary bank account.

                        There are other ways of earning more than 1% on your money. CDs, bonds, stock market, tax-free muni bonds, etc.

                        That is why whoever wins needs professional financial advice. After all, you don't want to put all of your eggs in one basket!

                        I don't disagree.  With some smart investment advice one could do much better. My point was even at conservative, no brainer rates, 100 million would mean easy street for someone.

                          dpoly1's avatar - driver
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                          Posted: July 17, 2016, 12:24 pm - IP Logged

                          Dance

                          $250.3 Million Cash!

                          That sounds mighty fine to me!

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

                           

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

                            dpoly1's avatar - driver
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                            Posted: July 17, 2016, 12:26 pm - IP Logged

                            I am glad no one won. I broke my ankle Friday night and could not get out the house to get a ticket. Unhappy

                            Shocked

                            Get Well Soon!

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

                             

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

                              dpoly1's avatar - driver
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                              Posted: July 17, 2016, 12:27 pm - IP Logged

                              The cash value only got bumped up $13.3 million which is the lowest jump since when the PB went from $184 to $203 and featured a $12.9 million increase. During this latest rollover the annuity value jumped up $28 million when in reality it should have been $18 million to keep pace with the ratio from the previous draw.

                              This is the reason why I only pay attention to the cash value because the Annuity is just a mythical number to me.

                              I Agree!

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

                               

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

                                 
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