A must read and Cash didn't write it

Reply #29

midwstrngirl — Fri, 18 Jul 2003 19:23:36 GMT

i don't think the ability to spread the taxes over several years is an advantage to annuity....because tax laws change....you never know when the government will decide to start conficscating a larger percentage

Reply #28

tg636 — Fri, 18 Jul 2003 12:03:48 GMT

I think you have to think of the lump sum as THE jackpot; the annuity is a bit of an illusion to make the real jackpot seem bigger and sell more tickets. The annuity is the state investing the jackpot for you. If you took the lump sum, presumably you would be investing a lot of it too, but after having paid 40+% in taxes and expenses. It's actually hard to know what to take, because having the state invest the money for you may pay better, but you never know what the future may hold and 25 yea... [ More ]

Reply #27

midwstrngirl — Thu, 17 Jul 2003 22:39:33 GMT

you got it visiondude

Reply #26

fja — Thu, 17 Jul 2003 18:00:13 GMT

even if you took annuity on 260 million wouldnt you still be paying taxes on the annual payments. so are deferred tax payments really better than one lump sum off the top....so what would you actually have for a total after 30 years of payments after taxes

Reply #25

Calscorp — Thu, 17 Jul 2003 17:57:44 GMT

MidwstrngirlI am really impressed with your knowledge. I have been reading your posts with great interest. I really don't have a big plan on what I would do if I actually won it big one day. So the posts on here have been very enlightening. At least, you know where you would start. Do you work in business or is this info based on a lot of research? I really hope you don't mind my asking but I was curious how you got your info. keep it coming. Thanks.

Reply #24

tg636 — Thu, 17 Jul 2003 16:55:34 GMT

This article answers the question I always had: what percentage interest or return would you need on the lump sum to equal or surpass the jackpot? It's currently 7.8%, because of another fact that doesn't get noted much. The lottery's annuity is invested with no taxes taken out; any investment a winner makes on the lump sum is already minus 35% from federal tax, and 5% more from state tax (in MA, where I live) before they've invested the first dollar. That's a lot of ground to make up just to ge... [ More ]

Reply #23

visiondude — Thu, 17 Jul 2003 02:23:11 GMT

midwstrngirl,then it's a race to the jackpot. ba da dum ba da dum ba da dum dum dum, ba da daaaaaaaaaaaaadada dum dum dum.don't worry, i am NOT nervous...VDQUICK PICKLS

Reply #22

midwstrngirl — Thu, 17 Jul 2003 00:41:11 GMT

hey visiondude, if you want me to practice on your jackpot, suits me...but wait, that presupposes you will win before i do....and i think the jury is still out on whose system is better, isn't it

Reply #21

megamillionaire — Wed, 16 Jul 2003 23:41:39 GMT

MWGLots of good info, thanks. One thing I know about City and State bonds is that if the City or State goes bankrupt the bond holders get paid off first.

Reply #20

megamillionaire — Wed, 16 Jul 2003 23:33:41 GMT

VDI saw that. Prov

Reply #19

visiondude — Wed, 16 Jul 2003 20:30:50 GMT

MEGA, she turned

Reply #18

midwstrngirl — Wed, 16 Jul 2003 20:16:50 GMT

triple tax free deferred bonds fall in the category of fixed income investments, they are generally issued by state gvts and or municipalities, you are basically loaning the government moneyi am not sure if the interest is paid quarterly or yearly, i guess it depends on the bondbond yields vary, but the reason high net worth individuals have them in their portfolio are to reduce their tax liability and provide income...for example, a bond yielding 4% may not seem like much (well maybe now it is

Reply #17

megamillionaire — Wed, 16 Jul 2003 14:02:33 GMT

VD:Beware financia

Reply #16

megamillionaire — Wed, 16 Jul 2003 13:58:47 GMT

Quote: Originally posted by midwstrngirl on July 15, 2003 t bills are you mad!!!triple tax free deferred bonds! then you get income without having to pay taxes!MWGYou have a good point but what's the interest rate of the ttfdb's? Can you write checks against the intrest

Reply #15

visiondude — Wed, 16 Jul 2003 03:58:10 GMT

it STILL pays to take the lump.i have read the going rate is between 1/2% to 2% depending on amount of money involved and the person you picked to handle it. the more the amount, the less the percentage. first of all with that much $$$$ you want to negotiate a flat fee, not a percentage. the flat fee negotiation will end up being less than the 1/2% and the financial advisor will have less of an excuse to manipulate your portfolio. people will line up to handle that kind of $$$$ so that puts Y... [ More ]

Reply #14

golotto — Wed, 16 Jul 2003 03:26:00 GMT

that remi

Reply #13

visiondude — Wed, 16 Jul 2003 03:13:43 GMT

of course. i am a guy who plays fair in life.remember that i am the guy who doesn't like to see people getting ripped off. how much of a hypocrite (cretin) would i be if i was looking for a something for nothing deal?VDQPLS

Reply #12

midwstrngirl — Wed, 16 Jul 2003 01:29:48 GMT

for a fee of course

Reply #11

visiondude — Wed, 16 Jul 2003 01:14:15 GMT

Quote

Reply #10

midwstrngirl — Wed, 16 Jul 2003 00:40:12 GMT

t bills are you mad!!!triple tax free deferred bonds! then you get income without having to pay taxes

Reply #9

visiondude — Wed, 16 Jul 2003 00:17:34 GMT

Quote

Reply #8

visiondude — Wed, 16 Jul 2003 00:10:59 GMT

MEGA,i prefer the

Reply #7

megamillionaire — Tue, 15 Jul 2003 22:20:39 GMT

Quote: O

Reply #6

smd173 — Tue, 15 Jul 2003 13:31:33 GMT

VD,$85 Millio

Reply #5

visiondude — Tue, 15 Jul 2003 02:54:33 GMT

with $85 million, who car

Reply #4

golotto — Mon, 14 Jul 2003 23:33:51 GMT

That's the most inform

Reply #3

Todd — Mon, 14 Jul 2003 23:14:26 GMT

I appreciate all the voting, and I hope no one stops. We're perched atop the award board, and it would be great to stay there

Reply #2

megamillionaire — Mon, 14 Jul 2003 22:39:05 GMT

Quote: O

Reply #1

Todd — Mon, 14 Jul 2003 22:35:10 GMT

Should be noted that the article was linked this morning at BigGameLottery.com (credit where credit is due

A must read and Cash didn't write it

megamillionaire — Mon, 14 Jul 2003 22:33:26 GMT

If you haven't read this yo