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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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md
United States
Member #14047
April 20, 2005
579 Posts
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Posted: March 15, 2007, 8:59 am - IP Logged

WOW!  I have been on travel since the big jackpot was hit, and this discussion thread rerveals that people are passionate about the subject.  Mr. Nabors i hope goes off happily ever after in the sunlight.  However, having said that, he has displayed poor judgement, put his family and privacy at high risk "CODE ORANGE!"  One interview I set an watched him talking about moving his daughter into a new home (commenable) out of a mobile park community (dumb to identify your daughter like that). 

To win money in that stratosphere, wisdom requires that you huddle with advisors, and yes pay them money, money, money.  You can't handle (the truth) of that amount of money on your own, when you never have.

Members can judge other members about their opinions, but deep down, everyone here knows Mr. Nabors did act like Gomer Freaking Pile! He has some difficult days ahead, and some great and wonderful days.  If he changes course right now, and work responsibily with a team of professionals, his good days will out weigh his bad days! 

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    California
    United States
    Member #46824
    October 1, 2006
    270 Posts
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    Posted: March 15, 2007, 11:04 am - IP Logged

    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.

    MegaWinner...I wonder if the NJ Lottery wants you to set up an account with a financial institution so they can wire the money to your account. 

    In California the lottery will not wire your funds to a bank.  You must pick up the check and take it to your bank or where ever you choose to transact your financial business.  Should you choose the annuity they will send subsequent payments to your bank.  At the time this information was printed (which was 2004 and is still currently on the CA Lottery web site) the lottery did not do ETFs.  Maybe that has changed.

    Regarding a bank not processing/taking a large check, if you speak to the bank management they will work the situation out.  Most likely you wouldn't be able to get your hands on the cash for a few days, as they would want the check to fully clear.  However the bank would see you as a GREAT customer and would do what they could to make you want to bank there in the future.

    The best thing to do would be to open an account at the same bank the lottery uses.  That way the check processing time should be cut to a minimum.


      United States
      Member #9579
      December 12, 2004
      2121 Posts
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      Posted: March 15, 2007, 11:47 am - IP Logged

      the way things are going,it might be an illegal alien,travelling to spring break,and wondering what all the excitement is,as they don't understand the language that well!

        Raven62's avatar - binary
        New Jersey
        United States
        Member #17843
        June 28, 2005
        49725 Posts
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        Posted: March 15, 2007, 12:34 pm - IP Logged

        the way things are going,it might be an illegal alien,travelling to spring break,and wondering what all the excitement is,as they don't understand the language that well!

        Very few people get lost on Abutment Road, so my guess is it's a local, which...

        Is playing it kool!

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

          Guru101's avatar - rw6jhh
          Indiana
          United States
          Member #48725
          January 7, 2007
          1953 Posts
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          Posted: March 15, 2007, 2:08 pm - IP Logged

          WOW!  I have been on travel since the big jackpot was hit, and this discussion thread rerveals that people are passionate about the subject.  Mr. Nabors i hope goes off happily ever after in the sunlight.  However, having said that, he has displayed poor judgement, put his family and privacy at high risk "CODE ORANGE!"  One interview I set an watched him talking about moving his daughter into a new home (commenable) out of a mobile park community (dumb to identify your daughter like that). 

          To win money in that stratosphere, wisdom requires that you huddle with advisors, and yes pay them money, money, money.  You can't handle (the truth) of that amount of money on your own, when you never have.

          Members can judge other members about their opinions, but deep down, everyone here knows Mr. Nabors did act like Gomer Freaking Pile! He has some difficult days ahead, and some great and wonderful days.  If he changes course right now, and work responsibily with a team of professionals, his good days will out weigh his bad days! 

          You can't say it was poor judgement. You don't know him. Not everyone is the same. If someone feels more secure about claiming a jackpot right away then that's their decision. Plus, you don't even KNOW if in fact he will or not. So techically, you still have no say as far as his judgement goes. As far as I'm concerned, having card hold cash in the bank is a lot better than a tiny slip of paper in a wallet. Stop saying he's dumb.

          Gonna win.Big Smile

            Avatar
            NY
            United States
            Member #23835
            October 16, 2005
            3474 Posts
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            Posted: March 15, 2007, 2:48 pm - IP Logged

            I don't think anybody has said he's dumb, but it seems that the majority agree he did something that was very dumb. Unless you actually want your  phone to keep ringing so that you can talk to a bunch of strangers who are calling only because you won the lottery, claiming your prize and talking to the press before you've even changed your phone number is stupid and qualifies as bad judgement by any reasonable definition. If you  actually want your  phone to keep ringing so that you can talk to a bunch of strangers who are calling only because you won the lottery, I'd say that's bad judgement that proves that you are, in fact, stupid.

              Guru101's avatar - rw6jhh
              Indiana
              United States
              Member #48725
              January 7, 2007
              1953 Posts
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              Posted: March 15, 2007, 3:08 pm - IP Logged

              I don't think anybody has said he's dumb, but it seems that the majority agree he did something that was very dumb. Unless you actually want your  phone to keep ringing so that you can talk to a bunch of strangers who are calling only because you won the lottery, claiming your prize and talking to the press before you've even changed your phone number is stupid and qualifies as bad judgement by any reasonable definition. If you  actually want your  phone to keep ringing so that you can talk to a bunch of strangers who are calling only because you won the lottery, I'd say that's bad judgement that proves that you are, in fact, stupid.

              Wow, a lot of people on this forum must have been bullies growing up as a kid.. YOU DON"T KNOW HIM. Also, you don't know what he has done so far, nor what he plans to do. How do you know he didn't change his number? You don't. I think people are just judging him because they're sad they weren't the "one" who won the lottery. Boo hoo hoo. Don't be judgemental to the people you don't know!!!

              Gonna win.Big Smile

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                Coastal Georgia
                United States
                Member #2653
                October 30, 2003
                1866 Posts
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                Posted: March 15, 2007, 3:22 pm - IP Logged

                Hey Dels and KY Floyd, take my advice and let this one go. You ain't gonna win.

                We have already explained ourselves ad nauseum and it ain't gettin thru.. capisce ?

                 

                DD

                 

                                               

                              

                 

                 

                  Raven62's avatar - binary
                  New Jersey
                  United States
                  Member #17843
                  June 28, 2005
                  49725 Posts
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                  Posted: March 15, 2007, 3:28 pm - IP Logged

                  For what anyone here knows Mr. Nabors may be a long time Lottery Player who had his ducks in a row: He may already have had a plan in place which he created by meeting with Legal and Financial Advisers, and the only thing remaining was Winning the Jackpot: When the Jackpot arrived he executed the Plan! Everyday you wait to get your Winnings is lost return on the Investments the Winnings would earn.

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

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                    Kentucky
                    United States
                    Member #32652
                    February 14, 2006
                    7310 Posts
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                    Posted: March 15, 2007, 5:08 pm - IP Logged

                    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.

                    Most people don't expect to win that much money so even the cash or annuity option would depend on when it happened. We could discuss the pros and cons of either but the only opinion that counts is the ticket holder and we know that Nabors already made up his mind.

                    State lottery commissions have already cashed multi-million dollar tickets so most legal questions have been asked and answered but it would still be a good idea to have your lawyer present. It's the lottery's job to write the check and that usually takes about 6 weeks and that process can't start until the ticket is validated.

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

                    You can scratch "cashing it at your local grocery store" off the list.

                    But seriously I would ask the lottery commission which bank writes the check and maybe deal directly with them. The majority of the money could sit in a small interest bearing account while various investment options were being reviewed. 

                    I don't see why knowing how the money will be invested would affect validating the ticket the day after the numbers were drawn or waiting 5 months.

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                      Kentucky
                      United States
                      Member #32652
                      February 14, 2006
                      7310 Posts
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                      Posted: March 15, 2007, 6:50 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.

                      "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."

                      Because the majority of people don't have $80 million to invest and neither did Nabors before he validated the ticket. How does validating the ticket prevent him from wisely investing the money?

                      "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?"

                      What does the lottery commission do with the money before the jackpot is hit?

                      "I've got no idea how Nabors will do in the long run,"

                       I wonder if Nabors is losing any sleep because of the concerns of LP posters?

                      "IMHO anyone who runs off to claim their half of the biggest cash prize in US history without even changing their phone number"

                      How do we know that he hasn't change his phone number because of all the calls he got from financial planners?

                      "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."

                      If having a press conference and giving out the name of the winning ticket holder is part of the lottery rules, you'll have to deal with it. Nabors signed the ticket, got his picture taken, answered some questions and can start deciding what to do with the money waiting for the check. 

                      Hopefully Nabors won't hand the money to his brother-in-law that read the book "Financial Planning for Idiots".

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                        New Jersey
                        United States
                        Member #21206
                        September 4, 2005
                        949 Posts
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                        Posted: March 15, 2007, 10:50 pm - IP Logged

                        For the record, 5% interest on an $80 million sum is more than $11,000/day.

                        Personally I wouldn't spend all that much time huddled with magical "financial advisors."    What exactly would be the point?    I could easily distribute the money in lots of banks - not that I would necessarily do that - and live very well on ordinary bank interest.

                        I once had a financial advisor who got very upset with me for selling Lucent stock at $100/share.  He carried on and stamped his feet but I insisted on selling the stock any way.  He said there was at least $20/share more in the stock and I was being an idiot.  (Yes, I fired him.)  Guess what?  Within one year the stock was under $5/share.

                        The fact is that the average person has no idea about the honesty and integrity or wisdom of "financial advisors." 

                        I'm sure I'd hear lots from the "smart people" at LP, but I think if I won a prize, I'd probably claim it within a week.    After claiming it, I could easily sit in a hotel, undisclosed to anyone, and sort out what to do with my money. 

                        I wouldn't say a damned thing to a single person other than my wife or make a single committment for many months.

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                          Atlanta
                          United States
                          Member #15989
                          May 24, 2005
                          183 Posts
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                          Posted: March 15, 2007, 11:21 pm - IP Logged

                          Hey DoubleDown......you didn't explain yourself. You called a man Gomer Pyle when you really do not know him OR whether or not he changed his phone number OR whether he already had tax advisors in place and financial help in place, waiting to get the check. I guess we all need to be like you and use the word "ain't" twice in the same post, that will garner the respect of everyone. Who made your opinion the ONLY correct one? SHAZAAM! Guru, you could not be more correct in your sticking up for the way this man may have everything in place already.

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                            Coastal Georgia
                            United States
                            Member #2653
                            October 30, 2003
                            1866 Posts
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                            Posted: March 16, 2007, 7:45 am - IP Logged

                            Hey DoubleDown......you didn't explain yourself. You called a man Gomer Pyle when you really do not know him OR whether or not he changed his phone number OR whether he already had tax advisors in place and financial help in place, waiting to get the check. I guess we all need to be like you and use the word "ain't" twice in the same post, that will garner the respect of everyone. Who made your opinion the ONLY correct one? SHAZAAM! Guru, you could not be more correct in your sticking up for the way this man may have everything in place already.

                            Hey Littlemanjen..  Tongue was planted firmly in cheek ...

                            Of course I don't know the man and have no idea what he did or didn't do with the exception of claiming the money in record time.

                             "Ain't" just sounds better that "isn't" sometimes...it has a better impact.

                            Perhaps we all should just agree to disagree and be done with this thread. What we say and do is irrelevant in the grand scheme of things.

                            Have a great day !

                             

                                                           

                                          

                             

                             

                              lotterybraker's avatar - pyramid
                              mississippi
                              United States
                              Member #34478
                              March 3, 2006
                              5903 Posts
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                              Posted: March 16, 2007, 8:23 am - IP Logged

                              Here is my OPINON on the big money won issue..FIRST OF ALL..WHY would you need finacial planners for..are you bad with money?..are you playing Monopoly and who ever has the most when they die is the winner?..whats the deal..the man won 80 million dollars..WOW!!!..if he spends that much he is mentally retarded..lol..if that had been me..right off the bat I would have gave 8 million to my church..I have 5 sisters and one brother which I would have given a million dollars to each..that leaves me with what..66 million dollars left for me and my 3 kids..I would have even given my ex a million....THERE IS NOWAY on GODS GREEN EARTH I would spend 60 million dollars on bull crap..although I would like to buy part of the Atlanta Braves..LOL

                              "Attention all Mathematicians: Check your degree at the door because when it comes to whole numbers you are the Amateur"