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Mega Millions sets world record with $1.6 billion lottery jackpot for Tuesday drawing

Topic closed. 503 replies. Last post 4 years ago by Coin Toss.

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United States
Member #164717
March 12, 2015
1300 Posts
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MM went from $667 Mil to $1 Bil in 3 days.  So, I'm sure it will go from $1.6 Mil to above $2 Bil in 4 days.  Wink

Tried to buy tickets this a.m. at two places, but the computers are down in dear old Cali.  Mad

    wander73's avatar - Lottery-008.jpg

    United States
    Member #153767
    March 24, 2014
    5864 Posts
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    One or two people didn't believe me.  I told some no one would hit last night.  I predict three winning tickets actually.   Since you have two teams projected world series New England area a winning ticket,  Ca  a winning ticket and I think Florida.  Take a look at the 23'rd for any history.

    Anyone can beat my price,  no one can beat my value.

    I don't sell the steak,  I sell the sizzle!

    I set the market value on items

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      Mt Sterling, IL
      United States
      Member #192745
      October 8, 2018
      199 Posts
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      To state the obvious: That's a lot of Doh-Ray-Me! Without hurting the principal (never spending a dime of the $500M+ after tax CV), this thing would throw off more than $1,000,000 per month in dividend income, after taxes, just with boring old safe investments. Meanwhile the principal will grow and grow and grow...

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        United States
        Member #135798
        November 29, 2012
        417 Posts
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        Move over Kylie Jenner, I’ll be a billionaire real soon!

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          Central TN
          United States
          Member #192917
          October 16, 2018
          76 Posts
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          If I win, I will look into not your typical beef cattle. Wink  redo my list. Again!!!!Big Grin

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            Central TN
            United States
            Member #192917
            October 16, 2018
            76 Posts
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            If you win this monster Tuesday night, would you have to make educated guess on lawyer you hire or go with one you already know/have?

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              Maryland
              United States
              Member #155447
              May 19, 2014
              36 Posts
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              I got up this morning and emailed this to my kids:

               

              10/20/2018

               

              About the Mega millions Jackpot:

               

              Don’t go crazy buying tickets. If you are like most people, you love to dream of winning the big one.  It only takes buying one ticket to allow you to dream about what you would do with that kind of money. So, go ahead and buy one so you can get excited for a couple days. Even if you buy two, and, yes it does double your odds of winning, the chances of you winning are still pretty bad. Unless you pick the same numbers, only one ticket you have is going to win, if you do beat the odds.

               

              What if you do win?  First off, take a picture of it and put it away in a safe place.  I assume you will consider sharing the win with relatives and possibly more, including a charity.  If you claim the prize for yourself and then distribute the money, you will be paying the full amount of taxes plus any amount you give to someone else will be taxed as a gift.

               

              The official lotteries of some states tell you to sign the back of it immediately.  That is to keep someone from stealing it and cashing it in for themselves.  That may be true, but if you want to maintain anonymity, it may not be a good idea to sign it right away, depending on what state you are in.  I have heard in Maryland, for example that, once you sign the ticket, the name on the ticket cannot remain anonymous.  Plus, you might be giving up the opportunity to distribute the winnings before taxes, allowing each individual you want to share it with to determine how they will deal with the windfall.  So, take the picture of it in case someone does manage to steal it and tries to cash it in, so you can report the theft and have a chance to recover it.

               

              Get a lawyer or a CPA to set up a trust with a unique name to put on the back of the slip. Have that representative contact the lottery HQ in the state you are in, on your behalf, to see what is necessary to maintain your anonymity.  Few lawyers or CPAs have been in this situation, so they may have to look into the ways and means of dealing with this issue.

               

              $1.6B is a huge amount of money that can help relatives and heirs for many years into the future.  Maybe even forever if handled right.  People can burn through it pretty fast if they are not careful.  Consider your age and what you could do with a portion of the money in your lifespan that remains, as well as the people you would share it with in their life that remains.  With this size of a jackpot, I would first figure out how much to allot to each of my kids on a percentage basis.  Since I am already retired, I won’t need a whole lot for us to live very comfortably for the rest of our lives, so a bigger percentage would go for our kids and grandkids and future generations.  I would take steps to ensure that this large sum would be around for many generations to follow, by giving out lump sums first, so people can exercise their dreams, but the biggest share of the money, I would put into trusts that would continue to grow, while paying out a portion of earnings on a regular basis, so all my descendants would be comfortable for as long as I could possibly live and for many years after that.

               

              Anyway, this is some of the stuff I dream about and think about how I would deal with it if I would get so lucky. Just wanted you all to know that you are all in my dreams.

               

              (Cruzincat)

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                New Member
                Paramus, NJ
                United States
                Member #171553
                January 9, 2016
                20 Posts
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                Yup. 

                That's my plan. 

                Set up Family Office let them take care of everything at low risk investments 3-5% max. Have them hire couple of family assistants. So if someone in our family wants Michelin 3 star dinner in Paris with a view next Saturday, they make it happen. Wants a Luxurious Caribbean getaway, done.

                I am still young enough at 40s and my wife at early 30s, have another child or two. Adapt few more and share wealth, do charitable stuff. 

                Ah--- . Stupid amount of money but that would be great life. I look over Family office during the day and have a lot of time off...

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                  Mt Sterling, IL
                  United States
                  Member #192745
                  October 8, 2018
                  199 Posts
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                  If you win this monster Tuesday night, would you have to make educated guess on lawyer you hire or go with one you already know/have?

                  I'd go through my trust attorneys, but have them work with Jason Kurland. He's a well known lottery lawyer, has represented several huge winners in the past.

                    dpoly1's avatar - driver
                    PA
                    United States
                    Member #66139
                    October 16, 2008
                    1998 Posts
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                    Uh Oh!

                    Dance

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

                     

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

                      JBounds's avatar - cigar
                      Missouri
                      United States
                      Member #164732
                      March 13, 2015
                      295 Posts
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                      Imagine winning both the Powerball and MM.  If someone were that lucky

                        TheMeatman2005's avatar - lightening
                        Brooklyn, NY
                        United States
                        Member #169716
                        October 29, 2015
                        1559 Posts
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                        Well.....I didn't win either, so no calling out RICH from work for me.

                        Conversation would go something like this......

                        Me: Hello boss, I'm calling out RICH.

                        Boss: What? You're SICK?

                        Me: No! I'M RICH, not sick! Stinking freakin' RICH!

                        Party

                        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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                          Central TN
                          United States
                          Member #192917
                          October 16, 2018
                          76 Posts
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                          I Agree!


                            Australia
                            Member #164427
                            March 2, 2015
                            48 Posts
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                            Wouldn't it be a wise move to take the annuity? I mean,we are talking about a $700 mill difference here which by itself is astronomical. The first cheque itself would set you up for many years,so why bother about getting the cash option?

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                              United States
                              Member #21
                              December 7, 2001
                              4530 Posts
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                              $2,000,000,000.00+

                              by Tuesday

                              now we can think about playing

                              thanks for pumping it up for us

                              .

                                 
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