General question(s)

Reply #4

SirMetro — Fri, 01 Jul 2005 03:00:04 GMT

I guess I have to say I would straddle the line on the Cash/Annuity option. Since MegaMillions pays over 30 years, my objective would be to hit $60 million plus. Under an annuity, I would see an annual pretax check for $2 Million for 30 years.I think, after tax value would put it around $1.2 million, which would result in roughly a net bring home of $36 million after 30 years.Now, if I took the cash option, I think I would get to see roughly $42 million pretax (not real sure about the actuall va... [ More ]

Reply #3

delS — Thu, 30 Jun 2005 12:53:51 GMT

Welcome! Your best plan of action is to: 1. sign the back of the ticket store in a safe place, 2. talk with a tax attorney asap, 3. hire both a financial planner and accountant asap, 4. use whaever means you have to get out of your existing ressidence (I'm not saying get of town per se, but get away to a place you can think and plan undisturbed), 5. create your living blueprint/plan, 6. claim your winnings, and 7. execute/implement your plan.Remember Let yourself be crazily, stupidly enthusiasti... [ More ]

Reply #2

Todd — Thu, 30 Jun 2005 01:47:45 GMT

Welcome to LP

Reply #1

TheGameGrl — Thu, 30 Jun 2005 01:34:58 GMT

My guess is anywhere from four to six weeks til you see any Ben Franklins. You'll still be asked to file forms and get legal waivers done before they cut the check. (which really isnt a check, its a EFT paper to a federal regulated bank, that shows proof that the funds were deposited.)No one can really say what your final cut will be since we dont know your state of residency, where your purchasing the ticket , and how you will fair come tax season. Good rule of thumb is 35% of whatever ya win w... [ More ]

General question(s)

notice — Wed, 29 Jun 2005 23:29:04 GMT

Hey all...Lottery (and forum) neub here. I haven't been able to find an answer to this question so here goes...Let's say I win a powerball jackpot (10 million plus). Let's say I'm at the Lottery office when the doors open (as I most certainly would be, signed ticket in hand). How much time elapses between the moment I say I think I have a jackpot winning ticket , and the moment I actually have cash in my possession? What is the process?And if you could clarify me on something... I have seen a l... [ More ]