Mega Million Lump Sum payment question

Reply #8

Stack47 — Fri, 28 Aug 2009 14:20:06 GMT

Some lotteries give the winner a percentage of the winnings by voucher or check while they are waiting for the big money so you might check with your state lottery, if they do it and what percentage you can get.

Reply #7

Bagent — Fri, 28 Aug 2009 00:37:17 GMT

InItAndWonIT,

I have no clue what you do for a living or what you make as an income. For me, I work hard and still live paycheck to paycheck. The reason for my question was to determine if I could leave my job and be able to live for the almost 2 months since there is little to no savings to speak of.

Reply #6

warrenghou — Thu, 27 Aug 2009 22:19:26 GMT

dont think you would be hurting for money if you had 210 million got you on hold any one would give you credit

Reply #5

iGlenn — Thu, 27 Aug 2009 22:15:19 GMT

Just open a brokerage account at Charles Schwab or Fidelity if you don't want a financial advisor.

Reply #4

Halle99 — Thu, 27 Aug 2009 20:09:02 GMT

Thanks bagent for bring up the que I have been wondering the same I thought it took 6-8 weeks too but I cant find where i read it.....I hope they will give me some money( I can settle for a few thousands while I wait) when I go to claim it cos I have a bill that I have to pay soon...and ofcourse I want to go to a vacation after the win.....Good luck to all.

Reply #3

dk1421 — Thu, 27 Aug 2009 20:00:24 GMT

I've heard the 6-8 weeks theory too. And really - it may take you that long to get your stuff in order anyway.

But I would assume they'd give you what they can.

Oh - I hear a few days before you get your money, you have to prove that you have a bank account that can handle that amount of money.

Reply #2

InItAndWonIt — Thu, 27 Aug 2009 17:20:46 GMT

One litterally has to wait a lifetime (if that....) to get a JP winning. What's the big deal about waiting 6-8 weeks more? Surely one would have enough money to buy necessities (e.g. food, water, etc) until they got their payment....

I have heard of people getting services and good with a mere copy of the winning ticket, with the promise to pay upon receipt of goods, like that guy who ODed who pissed away his lotto winnings (moron!). Got a loan just to piss it away on Vegas and he didn't... [ More ]

Reply #1

markp1950 — Thu, 27 Aug 2009 10:55:25 GMT

I would imagine that it varies by state. I remember somebody from Michigan got a 1 Mil down payment.

I would negotiate. Well, if you want your photo-op, help me a bit.

MarkP

Mega Million Lump Sum payment question

Bagent — Thu, 27 Aug 2009 10:42:19 GMT

I am almost certain that this has been talked about at one time or another, but I can't seem to be able to find it using the search function.

Trying to decide about lump sum verses annunity and I am leaning towards the lump sum. My question is - once I win the JP, have the financial and legal stuff in place and head off to claim my winnings, how long of a wait will I expect to get my lump sum payment?

I think I have read here that it is between 6-8 weeks to get all the money from the other... [ More ]