TOPIC: If you ever won the Powerball....

Reply #16

hypersoniq — Sun, 04 May 2003 17:38:29 GMT

that's a cool idea, best of both worlds...then YOU can pick the terms of the annuity, live LARGE and still have the safety net afforded by a guaranteed income... I like it

Reply #15

CASH Only — Sun, 04 May 2003 17:31:23 GMT

Hyper:I think there are ways to have MORE THAN one FDIC-insured account in the same bank...joint? trust?Those who might prefer annuity should take the LUMP SUM anyway, and then SHOP AROUND for an annuity, but use only part of your winnings to buy it.

Reply #14

hypersoniq — Sun, 04 May 2003 17:24:26 GMT

hmmm... that's a good point. The laws would definitely not swing in the winner's favor...that would be $29,000,000 for Wednesday's $87,000,000 jackpot (after taxes)... $27,250,000 more than the first annuity payment... If I budget myself... LOLI believe I am starting to understand the theory behind the lump sum advantage... I could then collect the interest and be in charge of my own investments on it...One question, where would you put it? a $1,000,000 payment could be split up between 10 accou... [ More ]

Reply #13

CASH Only — Sun, 04 May 2003 17:11:00 GMT

Hyper:I'd switch to CASH _immediately_ for any potential jackpot win. Among other things, if you were to receive annuity payments, there are potential estate tax problems. You don't know what the tax laws will be 5 or 25 years down the road.

Reply #12

hypersoniq — Sun, 04 May 2003 17:07:10 GMT

Quote: Originally posted by CASH Only on May 04, 2003 Hypersoniq: First check? The overwhelming majority of winners (when they have the choice) take the LUMP SUM. Especially true when the decision can be made AFTER they win.It depends on the jackpot I guess... anything that would give an annuity of less than $1,000,000 after taxes, I'd take the cash.To me, it seems that the money would be more managable in installments. The first check would be enough to erase all debt, get decent health cover... [ More ]

Reply #11

CASH Only — Sun, 04 May 2003 16:31:16 GMT

Hypersoniq: First check? The overwhelming majority of winners (when they have the choice) take the LUMP SUM. Especially true when the decision can be made AFTER they win.

Reply #10

hypersoniq — Sun, 04 May 2003 16:22:22 GMT

I know what I would do...Leave my current job as soon as the first check was deposited in the bank !I had a great job as a process analyst with Lucent/Agere... but alas, I got the Nafta-Shafta and it's now in mexico... I went to a computer learning school because they basically lied and said an MCSE (Microsoft Certified Systems Engineer) would be the ticket to a new career in the mid $50k range... they completely neglected to mention the fact that you also need a bachelor's degree and 10 years e... [ More ]

Reply #9

konane — Sun, 04 May 2003 10:11:53 GMT

I would not form a tru

Reply #8

megamillionaire — Fri, 02 May 2003 23:14:22 GMT

I'm with RJoh, I retired 9 years ago and after taking care of my immediate family I'll be partying untill it's time to go.

Reply #7

Todd — Thu, 01 May 2003 13:40:55 GMT

That's

Reply #6

CASH Only — Thu, 01 May 2003 13:25:46 GMT

Dude, you're not getting a DELL (not even a Northrup, for that matter

Reply #5

AnnuityIsGreat — Thu, 01 May 2003 13:03:14 GMT

Dude,He might play MM

Reply #4

CASH Only — Thu, 01 May 2003 12:57:06 GMT

AIG:Powerball is THIRTY payments.

Reply #3

AnnuityIsGreat — Thu, 01 May 2003 11:15:52 GMT

RJoh,Of course you would spend it over a course of 26 years. Can you hang on that long

Reply #2

RJOh — Mon, 28 Apr 2003 20:21:30 GMT

I retired three years ago, so if I won, I would to start working on spending it all before I died. ( there's no resting for a winner)RJOh

Reply #1

CASH Only — Mon, 28 Apr 2003 17:09:58 GMT

secret:If only you lived in Iowa, you could play Hot Lotto in case you were to win it, instead of Powerball.

TOPIC: If you ever won the Powerball....

rundown99 — Mon, 28 Apr 2003 17:05:46 GMT

Some lottery winners quit their jobs, but some don't..... But even the people who stay at their jobs dventually quit within the first year. In 1999, the unknown Powerball winner formed a trust to claim the prize, because he or she did not quit his or her job and did not want any publicity. If you won, would to tell your job to go to hell, would you form a trust, or would you put up with jealous co-workers