Mega Millions $252,000,000.00

Reply #31

amber124 — Thu, 20 Sep 2018 18:47:10 GMT

Yeah, more like 99.9% LOL

Reply #30

amber124 — Thu, 20 Sep 2018 18:45:57 GMT

LOL, like it's ever going to happen.

Reply #29

music* — Thu, 20 Sep 2018 18:13:15 GMT

You are welcome Sorrento,

You are correct about the media. If it bleeds it leads.

The hundreds of major jackpot winners are too boring. They stay off the Police blotter and out of trouble. Living somewhat as they did before winning.

I agree that 95% of the winners choose the Lump Sum. And only a few make it to the news afterward.

I am thinking that if I do the media availability than that would satisfy their appetite for a news story. I would be left alone to lead my boring l... [ More ]

Reply #28

Sorrento — Thu, 20 Sep 2018 17:39:54 GMT

Thanks music.

As far as the advice to take the annuity to avoid blowing it all, how often does that really happen anyway? I know the media drags out the same few stories of the people who were stupid with their winnings and are now living on welfare but I would think those cases are sensationalized to make it seem like it's a huge risk for all winners. I believe I read somewhere that 95% of winners take the lump sum. There must be hundreds, if not a few thousand multi-million dollar jackpot... [ More ]

Reply #27

music* — Thu, 20 Sep 2018 15:20:26 GMT

Sorrento, Thank You for your good humor.

Please do not lose your winning ticket as you did with Hurricane Irma cash.

I hope that your dreams do come true

Reply #26

Sorrento — Thu, 20 Sep 2018 14:33:41 GMT

What would I do if I won? Probably sit down and grab my heart as the idea sunk in. Then I check, and recheck and recheck, ad nauseum, my ticket to make sure I wasn't seeing things. I'd not tell a soul, other than my husband, and I'd tell him to keep his mouth shut because he's a chatty type.

Sleep? I'd need a sleeping bill or a couple of Benadryl, that's for sure.

Keep the ticket safe? Well, duh, goes without saying. Not telling you where either. Except I tend to put things in what I con... [ More ]

Reply #25

music* — Thu, 20 Sep 2018 05:11:50 GMT

I will look at each check as guaranteed income. Just like another birthday. Each check coming in the mail near the same day of the years.

I will not worry about the stock market nor the bond market. I will be retired.

Most women will want to marry me and inherit my winnings. This applies to the Cash option too.

Reply #24

music* — Thu, 20 Sep 2018 05:04:42 GMT

Coin Toss,

Thank You.

A State's Lottery MIGHT go belly up.

Annuities may not be adjusted for inflation. I calculated the percentage rate increase from the first year to the second check and it is about 4.7%. There are no taxes on the earned income from the 4.7%. California does not tax lottery income.

It is the IRS rates in the future that are unknown.

As these jackpots grow and roll over we will have fun! Lotto Dreaming

Reply #23

CDanaT — Thu, 20 Sep 2018 04:42:11 GMT

with you mike on the big dollar payout schedule.Not that $4.1 Million is chump change for year 1. Its the puny 2-3% range rate of return for the next 29 years. I truly think I could invest that with a reliable professional and comfortably get 4 - 5 1/2 % rate of return on the lump sum of $101 million...Can't endorse the check

Reply #22

Coin Toss — Thu, 20 Sep 2018 04:36:27 GMT

music,

This goes way back but a woman in NJ won the jackpot twice and now lives in a mobile home on her social security check.

////////////////////////////////////////////////////////

All,

Here's some interesting information from Money Crashers on cash vs annuity, and as often as it's been discussed here on LP there's one thing I've never seen discussed (I'll bold it) 'belly up' ......sounds far fetched but considering some stunts lotteries have pulled, like Illinois not paying win... [ More ]

Reply #21

weshar75 — Thu, 20 Sep 2018 04:11:13 GMT

You owe it too every red blooded america to drink alcohol and booty calls until the money is gone. And I am not talking cheap liquor here either get the good stuff and ride first class and drink in your first class seat too. Be a pain in the rear to the flight attendant ask for champagne. Ride in limos drive expensive cars live in a nice house wear nice clothes you only live once right!-weshar75

Reply #20

music* — Thu, 20 Sep 2018 03:50:53 GMT

Raven62, I have tried quick picks or as the Brit's call them, Lucky Dips . I have not won.

I have used my imagination with the same results.

The next time when I buy tickets I will use the David Lee Edwards way. He let the numbers appear in his mind before marking his choice. Robert Uomini a Professor of Mathematics in Berkley, CA used the three different brain waves in his head. He used the Theta wave. He played for two years and won $20 million.

After I win I will credit those tw... [ More ]

Reply #19

music* — Thu, 20 Sep 2018 03:40:25 GMT

Those unforeseen things happening

I cannot even predict what will happen five minutes in the future.

Billy Bob Harrell used one of those structured settlement companies before he committed suicide. He lived in Texas.

James Gatzke of Chicago, IL is probably still living a good life with the annuity.

William Bud Post III died from lung cancer and he was given the annuity. He grew up and had a hard life and that was shown with how he spent his $16.2 million Annuity.

On the ot... [ More ]

Reply #18

Raven62 — Thu, 20 Sep 2018 03:22:48 GMT

It could be a long wait: Most people Play their entire Life and Never Win a Jackpot

Reply #17

music* — Thu, 20 Sep 2018 03:16:54 GMT

but I will be patient and wait until they decide to join this party

Reply #16

Raven62 — Thu, 20 Sep 2018 03:11:26 GMT

Maybe they don't want their Future Plans Determined by Social Media

Reply #15

KY Floyd — Thu, 20 Sep 2018 02:53:51 GMT

You can always buy a better annuity

I'm guessing that is very true.

I'd love some good advice on how to do that with less than 2/3 of the money the lottery has for buying an annuity.

Reply #14

Stack47 — Thu, 20 Sep 2018 02:27:08 GMT

To the point they are arguing over which payout is best....

Reply #13

amber124 — Thu, 20 Sep 2018 02:20:59 GMT

You make it sound as if it's an inevitable event...

Reply #12

mikeintexas — Thu, 20 Sep 2018 02:08:42 GMT

^This

Reply #11

mikeintexas — Thu, 20 Sep 2018 02:07:16 GMT

Them's my sentiments 'zactly, CT. (in regards to higher taxes in the future) Ya never know.

Not sure why anyone over the age of 40 would take the annuity, but to each his/her own, I guess. My problem with the annuity schedule is not so much my dying before it's paid out, but that it's tremendously back loaded. As per the Texas annuity schedule, the first payment is $4,139,145 (before taxes) and the final one is $17,037,281. Why, you don't hit a ten million dollar payment until year 20.... [ More ]

Reply #10

CDanaT — Wed, 19 Sep 2018 23:42:19 GMT

Now Music, you know that the term annuity is used for winning the PB MM other games jackpot grand prize and taking the 30 payments.... I just made it plural for all games inclusive. BTW annuities is plural for annuity which in definition means the sum of money payable yearly or at other regular intervals. https://www.merriam-webster.com/dictionary/annuities (No mention of it being referred to insurance contracts only) I could be wrong...BUT,if that is upsetting Feel free to drop a PM.... Taking

Reply #9

lejardin — Wed, 19 Sep 2018 23:36:42 GMT

Cash, trust no one and live as normal a life as possible.

Reply #8

Coin Toss — Wed, 19 Sep 2018 23:18:00 GMT

music,

I forget who but a poster here used to have a sig:

You can always buy a better annuity

I'm guessing that is very true.

I just hate the thought of a jackpot winner having every good intention and reason for go8ing the annuity route and then some unforeseen thing happening and their jackpot annuity winds up with one of those structured settlement companies ans the jackpot winner get a dime on a dollar.

Reply #7

music* — Wed, 19 Sep 2018 21:39:08 GMT

Who do you want to call you?

I agree with your view on tax law. I hope you have experience with investments.

Reply #6

music* — Wed, 19 Sep 2018 21:36:21 GMT

CDanaT, I do not understand why you lump everyone together. We are individuals. Each person is unique.

Do you know that the word Annuities is not the correct word? Annuities are insurance contracts.

This thirty-year payment plan consists of Government bonds. Not State bonds here in CA.

I like those naughty eyebrows on that icon. Groucho Marx maybe

Reply #5

OldSchoolPa — Wed, 19 Sep 2018 21:31:22 GMT

Be sure to call me when you win.

Personally, I would take it lump sum so that I don't have to worry about any onerous changes in the tax law. I also would be able to run calculation to determine if I can achieve same result with my own investment strategy.

Reply #4

CDanaT — Wed, 19 Sep 2018 18:24:40 GMT

CASH Rules --- Annuities are for fools

Reply #3

music* — Wed, 19 Sep 2018 17:49:20 GMT

Well, the Megamillions jackpot is now $275,000,000.00 Annuity. The cash lump sum is $161,000,000.00

The following States do not tax lottery winnings: California, Florida, South Dakota, Tennessee, Texas, Washington, and Wyoming. I give credit to USAMEGA for this information.

I am in California and will receive $101,430,000.00 after all taxes are paid.

For a winner in one of the above mentioned States, the first year of the Annuity will be worth $4,140,000.00

My age and health wil... [ More ]

Reply #2

music* — Tue, 18 Sep 2018 17:58:15 GMT

tnlottodreamer, I did the calculations for the first year's check here in California. With 29 more checks to go. Increasing each year by about 5%. I use USAMEGA.com

The first year which is soon after you claim the prize the check will be for $2,389,566.20

Can you live on a budget? Have you heard of Dave Ramsey? He is a radio personality here in East Tennessee. He may help you create a budget.

I will invest my Lump Sum. I will budget $4.5 million per year.

Have you heard of Fin... [ More ]

Reply #1

tnlottodreamer — Tue, 18 Sep 2018 15:33:27 GMT

I would take it over the 30 years. That is too much money at once. I would not invest because I would already be rich.

Mega Millions $252,000,000.00

music* — Tue, 18 Sep 2018 12:51:50 GMT

There are new Lottery Post Members who have never discussed their plans after winning.

What will you do after you match your numbers with the MM draw numbers?

Will you be able to sleep afterward? Do you have a plan to keep the ticket safe?

Did you win with Quick Picks or Self Picks?

This is a lot of money. Are you prepared to invest it?

Will you do the press conference?

Anything else