What to do with lottery winnings?

Reply #15

dnroth — Mon, 15 May 2006 22:59:34 GMT

Why do you think New Hampshire people are smarter than people in Nevada or anywhere else?

I didn't say anywhere else. I just said that people in New Hampshire are smarter than people in Nevada. That's an obvious difference for anyone that has spent any amount of time in both states.

Never said Southerners were unwelcome in the North, either. As a Yankee myself, I don't see much difference between the North and South.

However, there's a ton of difference between the North and th... [ More ]

Reply #14

dnroth — Mon, 15 May 2006 22:55:33 GMT

http://www.taxfoundation.org/taxdata/show/467.html#nev

http://www.taxfoundation.org/taxdata/show/468.html

Check it out. New Hampshire's burden is lower than Nevada's.

Have fun with your legal hookers.

Reply #13

KY Floyd — Sun, 14 May 2006 19:15:59 GMT

Quote: Originally posted by dnroth on May 13, 2006Quote: Originally posted by PrisonerSix on May 13, 2006 Quote: Originally posted by redd1120 on May 12, 2006 hello everyone,

my name is monica and i'm new to the board. i'd like to know what is the first thing one should do if they win a large jackpot?......(taxes, legal, etc.)

also, on average, what is the total amount taken by the state and/or lottery commission before you get your winnings?

thanks!

First of all, welcome to Lot... [ More ]

Reply #12

PrisonerSix — Sun, 14 May 2006 01:53:01 GMT

Thanks for the support.

Nevada is a place I'd move because the climate is nice, there's no state income tax, and there aren't any people who know me there. If people don't know me or where I am, they won't come begging for money.

There are other places too I'd consider, but they'd have to have a nice climate and tax system to be considered.

PrisonerSix

Reply #11

PrisonerSix — Sun, 14 May 2006 01:44:18 GMT

Honestly, Nevada is only one of my options. I don't think I'd like the climate in New Hampshire much, too much snow and besides, you Yankees probably don't want anyone born and raised in the South there. I'd like a place with a decent climate and tax system so I can enjoy myself and keep as much of my money as possible.

Why do you think New Hampshire people are smarter than people in Nevada or anywhere else?

PrisonerSix

Reply #10

bellyache — Sat, 13 May 2006 18:09:46 GMT

Where did you read that PrisonerSix would move to Nevada because of hookers? Maybe he just likes the area. How does that make him gross

Reply #9

konane — Sat, 13 May 2006 17:03:46 GMT

Quote: Originally posted by CASH Only on May 13, 2006 Choose LUMP SUM. I live in NY state, so I have to make that choice when I PLAY Mega Millions.

Cash .... some good news for you. Clark Howard, our local consumer guru said on his radio program that annuities are poison ... that they're the very worst type of investment at this time someone could choose to sink their money into due to sky high commissions when purchasing them, also current taxation rates are figured on the highest ordinary... [ More ]

Reply #8

CASH Only — Sat, 13 May 2006 16:51:57 GMT

Choose LUMP SUM. I live in NY state, so I have to make that choice when I PLAY Mega Millions.

Reply #7

konane — Sat, 13 May 2006 16:50:22 GMT

Chewie had some very pactical advice from a previous thread.

https://www.lotterypost.com/thread/122659.htm

Its time for the refresher course: http://www.williamsmullen.com/news/articles_detail/019.htm

Reply #6

Uff Da! — Sat, 13 May 2006 16:49:01 GMT

And don't forget to learn all you can about investments, can you can better evaluate the advice you might be getting from those financial advisors. After all, regardless of what they advise you, ultimately it is you who will make the final decisions of what to do with your money.

Unless you are so elderly that your anticipated lifespan is short, plan to live off the earnings from your investments and avoid dipping into principal. That way your money will last.

Reply #5

tntea — Sat, 13 May 2006 16:33:30 GMT

Stay private if all possible..

Pay off debts.. dont go back in debt...

Give to charities..

Reply #4

bambini — Sat, 13 May 2006 16:30:05 GMT

Sign, consult, invest, pay off mortgage, home improvements. When I'm finished with all of the previous, I would treat myself to a Malibu Beach house and live of the interest of my winnings. I don't have a problem paying for taxes, I mean really, you paid a dollar to become a millionaire, the least you can do is pay taxes for the benefit of the public, as it is now the disgustingly rich, pay the least taxes.

Reply #3

dnroth — Sat, 13 May 2006 16:10:45 GMT

Quote: Originally posted by PrisonerSix on May 13, 2006 Quote: Originally posted by redd1120 on May 12, 2006 hello everyone,

my name is monica and i'm new to the board. i'd like to know what is the first thing one should do if they win a large jackpot?......(taxes, legal, etc.)

also, on average, what is the total amount taken by the state and/or lottery commission before you get your winnings?

thanks!

First of all, welcome to LotteryPost. Hope you enjoy it here.

This topic ha... [ More ]

Reply #2

PrisonerSix — Sat, 13 May 2006 11:54:36 GMT

First of all, welcome to LotteryPost. Hope you enjoy it here.

This topic has been discussed here before and everyone will have their own views, so I'll give you mine. First thing to do is put the ticket in a safe place, then I think you should contact an attorney, accountant, and a good investment firm and find out your best courses of action. If you want to live for the rest of your life on your money, you'll need all of those things.

You should also get an unlisted phone number and ma... [ More ]

Reply #1

savagegoose — Sat, 13 May 2006 09:23:20 GMT

write ya name and adress on the back of fthe ticket

What to do with lottery winnings?

redd1120 — Fri, 12 May 2006 20:00:45 GMT

hello everyone,

my name is monica and i'm new to the board. i'd like to know what is the first thing one should do if they win a large jackpot?......(taxes, legal, etc.)

also, on average, what is the total amount taken by the state and/or lottery commission before you get your winnings?

thanks