|Posted: August 8, 2006, 7:00 am - IP Logged|
Late news on Monday 8-7-06 said they'l get about $750,000 each after taxes.
My wife says that'll probably bring some grief for them because all too soon people that they kbnow won't remember how much each one got, they'll just know they "hit that $208 million jackpot"
More update on the $208 million PB jp winners here according to the local news.
Looks like it was just an office pool and anyone could "chip in" a buck. About 100 of the workers did. Those that decide to choose the annuity will get a after-tax check yearly of about $69,000 each for 30 years.. Those that choose the lump sum will get an after-tax check of about $554,000 once.
No wonder none of them said they will quit their jobs ! LOL ! $554,000 isn't enough to really retire on unless you are going to be really frugal. To live off the interest, you would get about 5%/year so that's less than $30,000/year to live on and that's before taxes. And the news claims the average yearly wage for an employee at the plant there is $40,000/year. So they are likely already living on more money than they could make by not working and trying to retire on the annuity.
So if they all would take the lump sum, the winners would see approx $5.5 million out of a total jp of $208 million? That's only aboout 2.5% of the total jackpot.
Not that a half-mil clear isn't nice. But between the govt and the lottery itself, these winners don't even get to see 97% of it all. Personally, that's one lousy deal ! But at least they'll be able to buy gasoline to put in their cars, which is more than a lot of us will be able to do the way things are going.
How can you tell if a politician is lying?
Answer: His lips are moving.