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Wonder where the other half of 390 mill is?

Topic closed. 54 replies. Last post 10 years ago by justxploring.

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where is the other half of 390 mill jackpot?

in a draw? [ 4 ]  [10.53%]
in the dump? [ 5 ]  [13.16%]
in the local incenarator? [ 1 ]  [2.63%]
being blind trusted? [ 13 ]  [34.21%]
dog ate it? [ 1 ]  [2.63%]
being used at the bottom of a bird cage? [ 1 ]  [2.63%]
winnner saw ticket and died? [ 9 ]  [23.68%]
bottom of a poketbook? [ 4 ]  [10.53%]
Total Valid Votes [ 38 ]  
Discarded Votes [ 2 ]  
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Kentucky
United States
Member #32652
February 14, 2006
7322 Posts
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Posted: March 13, 2007, 11:33 pm - IP Logged

I'm not saying seeking financial advise isn't a good thing, I'm saying it's an extra option for the person if they want it, and if they don't take it, they haven't necessarily made a bad choice. These financial "experts" are going to cost money. The thing is though, these experts are people just like everbody else who want MONEY, MONEY, MONEY. Now that they got a millionaire asking for there oh so superior advise, they just might try to get as much money out of that person as they can. To presume that the person will spend their money unwisely because they did not take the extra option is not a valid argument.

Wonder how many financial advisers been asked "I just won $195 million; should I take the cash or the annuity"? But once that's decided, most people don't need to ask a financial adviser the directions to the lottery office.

I'm with Guru, why would you need a financial adviser before you cashed your ticket and got the money?

    justxploring's avatar - villiarna
    Wandering Aimlessly
    United States
    Member #25360
    November 5, 2005
    4461 Posts
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    Posted: March 14, 2007, 12:04 am - IP Logged

    The fact ALONE that someone claims a jackpot without consulting someone else does not prove anything. You cannot pass any negative judgement upon that person. The reason being is because you don't know that person. Now, if I won the jackpot, I wouldn't go get it the very next day, but I would feel comfortable claiming it without consulting anyone. Remember: You DON'T KNOW the person. I know you wanted to win, but just because you didn't doesn't give you nor anyone else the right to judge the person who did. I know you really wanted to win, but that's just too bad. Keep playing, maybe you will.

    Guru, I'm not sure if you realize that Gomer Pyle was played by Jim Nabors (and the winner of the jackpot is Ed Nabors) although the town of Mayberry was supposed to be in North Carolina, not Georgia. I'm sure that's why DoubleDown used that comparison.

    I also agree with GameGrl that safety & privacy is an issue when someone wins a large amount of money.  Celebrities have bodyguards and security gates for a reason, that being, some people are just plain cuckoo.

      justxploring's avatar - villiarna
      Wandering Aimlessly
      United States
      Member #25360
      November 5, 2005
      4461 Posts
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      Posted: March 14, 2007, 12:19 am - IP Logged

      Wonder how many financial advisers been asked "I just won $195 million; should I take the cash or the annuity"? But once that's decided, most people don't need to ask a financial adviser the directions to the lottery office.

      I'm with Guru, why would you need a financial adviser before you cashed your ticket and got the money?

      Maybe a financial planner isn't the first person to call, but I certainly wouldn't claim my prize before seeking legal counseling. Regarding the annuity vs cash question, I wouldn't leave that up to anyone else.  However, I would review various investment options and spend time running some numbers. Then I would decide what was the best choice for my individual personality and lifestyle. Have you ever seen Deal or No Deal? The audience is always yelling "No Deal" because it's not their money.

      "why would you need a financial adviser before you cashed your ticket and got the money?"

      Honestly, would you know what to do with a check for $80 million bucks?  I wouldn't.

        numbergirly's avatar - 0002009C
        Dover, Delaware
        United States
        Member #26979
        November 25, 2005
        178 Posts
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        Posted: March 14, 2007, 12:56 am - IP Logged

        Hi MegaWinner... I heard the same thimg and it could be true.  HOW AWFUL

                                                                            numbergirly

          Avatar
          NY
          United States
          Member #23835
          October 16, 2005
          3475 Posts
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          Posted: March 14, 2007, 1:00 am - IP Logged

          "why would you need a financial adviser before you cashed your ticket and got the money?"

          How much notice is your bank allowed to demand before allowing you to make a withdrawal from an interst bearing account? The bank probably won't require notice, but how annoying would it be to park $10 million or $50 million in your bank account and then find out you had to wait once you had decided where to invest it?

          The majority of people simply don't know very much about investing, so the majority of people will benefit from good financial advice from a professional. The day you get the check is the day you need to have a good investment plan, so getting that plan in place before picking up the check makes a great deal of sense for most people.

          I've got no idea how Nabors will do in the long run,  but  IMHO anyone who runs off to claim their half of the biggest cash prize in US history without even changing their phone number isn't demonstrating that they have the kind of judgement that will be useful in hanging on to their privacy, their sanity and their money.

            Avatar
            Coastal Georgia
            United States
            Member #2653
            October 30, 2003
            1866 Posts
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            Posted: March 14, 2007, 8:16 am - IP Logged

            "why would you need a financial adviser before you cashed your ticket and got the money?"

            How much notice is your bank allowed to demand before allowing you to make a withdrawal from an interst bearing account? The bank probably won't require notice, but how annoying would it be to park $10 million or $50 million in your bank account and then find out you had to wait once you had decided where to invest it?

            The majority of people simply don't know very much about investing, so the majority of people will benefit from good financial advice from a professional. The day you get the check is the day you need to have a good investment plan, so getting that plan in place before picking up the check makes a great deal of sense for most people.

            I've got no idea how Nabors will do in the long run,  but  IMHO anyone who runs off to claim their half of the biggest cash prize in US history without even changing their phone number isn't demonstrating that they have the kind of judgement that will be useful in hanging on to their privacy, their sanity and their money.

            Thank you, KY...

             

            One more thing :  the tax ramifications....

            One had better find a place( and it ain't the local bank ) for that chunk of cake that will maximize your "net" and decrease your tax liabilities..

             

                                           

                          

             

             

              Avatar
              Coastal Georgia
              United States
              Member #2653
              October 30, 2003
              1866 Posts
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              Posted: March 14, 2007, 8:18 am - IP Logged

              Guru, I'm not sure if you realize that Gomer Pyle was played by Jim Nabors (and the winner of the jackpot is Ed Nabors) although the town of Mayberry was supposed to be in North Carolina, not Georgia. I'm sure that's why DoubleDown used that comparison.

              I also agree with GameGrl that safety & privacy is an issue when someone wins a large amount of money.  Celebrities have bodyguards and security gates for a reason, that being, some people are just plain cuckoo.

              Shazam !!!

               

                                             

                            

               

               

                MegaWinner's avatar - Lottery-029.jpg
                New Jersey
                United States
                Member #50273
                March 3, 2007
                348 Posts
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                Posted: March 14, 2007, 8:39 am - IP Logged

                Umm, just so you guys know, I called the NJ lottery headquaters and spoke with a person their and they informed me that you cannot even pick up your funds without a place already in place for them to deposit the funds and a bank is not one of them.  They said no bank is going to cash or allow you to deposit a check that big so they require in the very least that the money be deposited into a trust fund.

                  Guru101's avatar - rw6jhh
                  Indiana
                  United States
                  Member #48725
                  January 7, 2007
                  1954 Posts
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                  Posted: March 14, 2007, 10:12 am - IP Logged

                  Umm, just so you guys know, I called the NJ lottery headquaters and spoke with a person their and they informed me that you cannot even pick up your funds without a place already in place for them to deposit the funds and a bank is not one of them.  They said no bank is going to cash or allow you to deposit a check that big so they require in the very least that the money be deposited into a trust fund.

                  You can deposit the check at a bank.

                  Gonna win.Big Smile

                    TheGameGrl's avatar - character catafly.jpg
                    A long and winding road
                    United States
                    Member #17084
                    June 10, 2005
                    4532 Posts
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                    Posted: March 14, 2007, 6:02 pm - IP Logged

                    Umm, just so you guys know, I called the NJ lottery headquaters and spoke with a person their and they informed me that you cannot even pick up your funds without a place already in place for them to deposit the funds and a bank is not one of them.  They said no bank is going to cash or allow you to deposit a check that big so they require in the very least that the money be deposited into a trust fund.

                    Thanks for taking the extra effort to contact a lottery personnel to get the Lowdown of deposits.

                    I doubt real HIGHLY that a TRUST FUND is MANDATED. Think again on that one.  You can ask for the funds in rupees if that is where you are sending the money too! No Bank is going to turn away a 75 million account! They would salivate to have that amount .  Get the name next time of this lottery employee because seriously that is inaccurate banking information they are relaying to persons...

                    ~~Is it true, Is it kind,Is it necessary. ~~~

                    christmas holly jolly numbers: 255,303,6911, 474,477 silver:47,gold:79.

                      LuckyLilly's avatar - savy chick.png

                      United States
                      Member #50124
                      February 26, 2007
                      601 Posts
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                      Posted: March 14, 2007, 6:32 pm - IP Logged

                      Thanks for taking the extra effort to contact a lottery personnel to get the Lowdown of deposits.

                      I doubt real HIGHLY that a TRUST FUND is MANDATED. Think again on that one.  You can ask for the funds in rupees if that is where you are sending the money too! No Bank is going to turn away a 75 million account! They would salivate to have that amount .  Get the name next time of this lottery employee because seriously that is inaccurate banking information they are relaying to persons...

                      I saw an article on this awhile back, and I don't think a trust fund is mandated.  BUT it did say you can't just deposit a huge check into your normal checking or savings, you need a special account.

                        Raven62's avatar - binary
                        New Jersey
                        United States
                        Member #17843
                        June 28, 2005
                        49813 Posts
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                        Posted: March 14, 2007, 7:53 pm - IP Logged

                        The New Jersey Winner(s) - whoever they may be - have up to a year to claim their Winnings!
                        It is recommended that the Winner(s) sign their Ticket and meet with a Financial Adviser and an Attorney before coming forward.

                        A mind once stretched by a new idea never returns to its original dimensions!

                          spy153's avatar - maren

                          United States
                          Member #28409
                          December 15, 2005
                          1198 Posts
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                          Posted: March 14, 2007, 9:25 pm - IP Logged

                          "why would you need a financial adviser before you cashed your ticket and got the money?"

                          How much notice is your bank allowed to demand before allowing you to make a withdrawal from an interst bearing account? The bank probably won't require notice, but how annoying would it be to park $10 million or $50 million in your bank account and then find out you had to wait once you had decided where to invest it?

                          The majority of people simply don't know very much about investing, so the majority of people will benefit from good financial advice from a professional. The day you get the check is the day you need to have a good investment plan, so getting that plan in place before picking up the check makes a great deal of sense for most people.

                          I've got no idea how Nabors will do in the long run,  but  IMHO anyone who runs off to claim their half of the biggest cash prize in US history without even changing their phone number isn't demonstrating that they have the kind of judgement that will be useful in hanging on to their privacy, their sanity and their money.

                          my bank requires at least 24 hours for the check to clear above $5000. I don't know if it would be longer or if it matters for an amount in the millions.

                          voir-vous dans mes reves!Cool

                            Raven62's avatar - binary
                            New Jersey
                            United States
                            Member #17843
                            June 28, 2005
                            49813 Posts
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                            Posted: March 14, 2007, 11:19 pm - IP Logged

                            Campark Liquors in Woodbine, New Jersey — where the Winning Ticket was sold:

                            A mind once stretched by a new idea never returns to its original dimensions!

                              MegaWinner's avatar - Lottery-029.jpg
                              New Jersey
                              United States
                              Member #50273
                              March 3, 2007
                              348 Posts
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                              Posted: March 15, 2007, 12:24 am - IP Logged

                              I saw an article on this awhile back, and I don't think a trust fund is mandated.  BUT it did say you can't just deposit a huge check into your normal checking or savings, you need a special account.

                              This is pretty much what the person said.  They said they just can't hand over a check that big to you because you can't just deposit it in your normal account or cash it at bank.  I called when the MM was around $90 mill (I think).  Thats what they told me.  I am no expert, I am just relaying what this person said to you guys.