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Indiana family claims $536 million Mega Millions lottery jackpot

Topic closed. 65 replies. Last post 4 months ago by OldSchoolPa.

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TheMeatman2005's avatar - lightening
Brooklyn, NY
United States
Member #169723
October 29, 2015
877 Posts
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Posted: July 30, 2016, 11:05 pm - IP Logged

I agree.  The return on the lottery annuity is about 1.42%, where you can get over 2% on certain jumbo CD's, which are FDIC insured.  Like you said, nothing is guaranteed but if it were my burden to make, I would chose the cash option as well. 

Star

A lot of people still don't understand what the difference is between the advertised annuity jackpot and the cash value amount.

They think they are losing money by taking the cash value. Acting like it's a penalty imposed on them for taking the cash and not the payments.

When you take the cash, all you get is what the lottery has accumulated from selling tickets.

When you decide to take cash, that's what you get. You get the cash, but without any of the interest that would have been earned over the annuity period.

If you are careful with the money and invest it wisely, without over-spending, over the next 29 years, you will end up with what the annuitized value of the drawing was...or more!

Yes, of course, you are going to buy a nice house, a nice car (or 2, or 3) and the best of what money can buy, but if you want it to last and become "GENERATIONAL WEALTH" you need to take things slow and easy.

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

    United States
    Member #176272
    July 28, 2016
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    Posted: July 31, 2016, 12:04 am - IP Logged

    Congrats to the very lucky winners!

      dallascowboyfan's avatar - tiana the-princess-and-the-frog.jpg
      Oklahoma
      United States
      Member #82391
      November 12, 2009
      6290 Posts
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      Posted: July 31, 2016, 10:17 am - IP Logged

      Congratulations to the family.....

      I Love Pink & Green 1908

        xstreamgaming15's avatar - 41M8sCXM8YL _SY300_.jpg
        SoCal
        United States
        Member #170973
        December 25, 2015
        30 Posts
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        Posted: July 31, 2016, 10:54 pm - IP Logged

        Congrats to the Indiana family but respectfully I think the press conference speech was bologna. Of course they're loaded now they're going to spend to they're hearts desire and down the road they're going to know who they're real friends are.

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          NEW YORK
          United States
          Member #90535
          April 29, 2010
          11978 Posts
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          Posted: August 2, 2016, 6:47 pm - IP Logged

          $5 INVESTMENT TURNED INTO $536 MILLION. I BOUGHT A DOMINOS PIZZA WITH MY $5.

           

          Green laughGreen laughGreen laugh

          US Flag

          PLAY THE LOTTERY SOMEDAY-IT IS OKAY TO DREAM!

            OldSchoolPa's avatar - Lottery-057.jpg
            Gurnee, Illinois
            United States
            Member #49731
            February 12, 2007
            917 Posts
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            Posted: August 3, 2016, 12:03 am - IP Logged

            I Agree!..along with the " first time " we ever played statement. Not say it's impossible,  but come on. Like l said in another post of mine awhile back- " oh, we only played 3 lines and won $200 mil" while hiding the other 30 tickets from sight.  Nevertheless congrats. 

            Yes, they sure knew how to press long-time lottery players' buttons and to pour salt into every hopeful lottery players' wounds! 

            I would have just said that I play every drawing because you never know when your lucky day will turn up. That way, no one will hate me and I would be 100 percent truthful.

             

            This kind of reminds me of that 18 year old Georgia girl who won the Big Game back in the 90s and that SC Vargas fella.

            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!