DO you really lose money if u take the annunity over the lump sum?Prev Topic Next Topic

RJOh

100

mid-Ohio
United States
Member #9
March 24, 2001
20,272 Posts
Offline

Aug 10, 2012, 1:00 am

Quote: Originally posted by rdgrnr on Aug 9, 2012
Take the cash while it's still worth something and buy things with it that people will always need or want.

What people need and want today is tommorow's junk.

* you don't need to buy every combination, just the winning ones *
four4me

MD
United States
Member #1,701
June 18, 2003
10,731 Posts
Offline

Aug 10, 2012, 1:06 am

Quote: Originally posted by RJOh on Aug 10, 2012
What people need and want today is tommorow's junk.

Thank you,... it's all junk.

Big John says. You don't hit the number. The number hits you!!!!

I'm not Big John, I'm Four4me, Big John's a friend.
time*treat

United States
Member #13,130
March 30, 2005
2,171 Posts
Offline

Aug 10, 2012, 1:13 am

Quote: Originally posted by RJOh on Aug 10, 2012
What people need and want today is tommorow's junk.

What I need today is tomorrow's winning numbers.

In neo-conned Amerika, bank robs you.
Alcohol, Tobacco, and Firearms should be the name of a convenience store, not a govnoment agency.
RJOh

100

mid-Ohio
United States
Member #9
March 24, 2001
20,272 Posts
Offline

Aug 10, 2012, 1:16 am

Quote: Originally posted by four4me on Aug 10, 2012
Thank you,... it's all junk.

Computer owners know that better than most, today's must have computer will be replaced in six months by something better and cheaper.

* you don't need to buy every combination, just the winning ones *
savagegoose

adelaide sa
Australia
Member #37,135
April 11, 2006
3,341 Posts
Offline

Aug 10, 2012, 1:19 am

Quote: Originally posted by time*treat on Aug 10, 2012
What I need today is tomorrow's winning numbers.

lol right on i can see the tv ad now

the apple number picker, tomorrow's numbers picker today

" Still swinging, still missing "
2014 = -1016; 2015= -1409; 2016 = -1171; 2017 = -1257 ; 2018 = - 1380 = TOT = - 6233

keno historic = -2291 ; 2015= -603; 2016= -424; 2017 =-427; 2018= -223 TOT = -3968

:
RJOh

100

mid-Ohio
United States
Member #9
March 24, 2001
20,272 Posts
Offline

Aug 10, 2012, 1:22 am

Quote: Originally posted by time*treat on Aug 10, 2012
What I need today is tomorrow's winning numbers.

After tomorrow you won't need them anymore even if someone is willing to give them to you.

* you don't need to buy every combination, just the winning ones *
C0w Pi3

Delaware
United States
Member #93,499
July 1, 2010
542 Posts
Offline

Aug 10, 2012, 1:26 am

My thinking is.. your better off then most of the country either way you go.
billionaire2bee

United States
Member #130,809
July 25, 2012
1,636 Posts
Offline

Aug 12, 2012, 12:28 pm

Coin toss read your fine print on your state lotto rules....the lotto take half of the jackpot upfront cause the amount shown is an estimated value of the actual prize..i.e. half of 253 million is 126.5 million
Coin Toss

Zeta Reticuli Star System
United States
Member #30,469
January 17, 2006
11,788 Posts
Offline

Aug 12, 2012, 1:25 pm

Quote: Originally posted by billionaire2bee on Aug 12, 2012
Coin toss read your fine print on your state lotto rules....the lotto take half of the jackpot upfront cause the amount shown is an estimated value of the actual prize..i.e. half of 253 million is 126.5 million

billionaire2bee,

Then why is the current PB JP of $305 Million given a cash value of $203.3 Million?

By your theory it should be $152.5 million, no?

As far as the $305 million, that's the 'advertised' jackpot. There is a differnce between advertised and cash option because there is no $305 million (or any other lottery game advertised jp) set aside by PB or any other lottery to pay a winner with.

Those who run the lotteries love it when players look for consistency in something that's designed not to have any. So many systems, so many theories, so few jackpot winners.

There is one and only one 'proven' system, and that is to book the action. No matter the game, let the players pick their own losers.
Ronnie316

100

United States
Member #116,263
September 7, 2011
20,243 Posts
Offline

Aug 12, 2012, 1:30 pm

Quote: Originally posted by Coin Toss on Aug 12, 2012
billionaire2bee,

Then why is the current PB JP of $305 Million given a cash value of $203.3 Million?

By your theory it should be $152.5 million, no?

As far as the $305 million, that's the 'advertised' jackpot. There is a differnce between advertised and cash option because there is no $305 million (or any other lottery game advertised jp) set aside by PB or any other lottery to pay a winner with.

That last part doesn't make sense Coin Toss, how could the money NOT be set aside??? Are you saying they spend it as fast as they get it and therefore they is no actual money for a winner?
onlymoney

United States
Member #128,784
June 2, 2012
5,427 Posts
Offline

Aug 12, 2012, 1:33 pm

coin is right ronnie, that's why they hope no one wins. If there is a winner, they have to ask congress for a loan and that's why it takes 2 weeks to get your first JP check.
Coin Toss

Zeta Reticuli Star System
United States
Member #30,469
January 17, 2006
11,788 Posts
Offline

Aug 12, 2012, 1:42 pm

Quote: Originally posted by Ronnie316 on Aug 12, 2012
That last part doesn't make sense Coin Toss, how could the money NOT be set aside??? Are you saying they spend it as fast as they get it and therefore they is no actual money for a winner?

Ronnie316,

It's one of the things I leanred here at LP.

The advertised jackpot, as a 'stash of cash' does not exist. The advertsied jackpot is what an annuity paid out over a number of years would be (pre-tax).

That's why the lump sum is a lesser amount.

Should someone win the PB Wednesday night and say "Pay me the $305 million now", well, there is no $305 million set aside to pay someome with.

Those who run the lotteries love it when players look for consistency in something that's designed not to have any. So many systems, so many theories, so few jackpot winners.

There is one and only one 'proven' system, and that is to book the action. No matter the game, let the players pick their own losers.

100

United States
Member #116,263
September 7, 2011
20,243 Posts
Offline

Aug 12, 2012, 1:45 pm

Quote: Originally posted by onlymoney on Aug 12, 2012

coin is right ronnie, that's why they hope no one wins. If there is a winner, they have to ask congress for a loan and that's why it takes 2 weeks to get your first JP check.

You make a good point onlymoney but consider the MM Jackpot I won Friday ............

Friday, August 10, 2012

10 · 18 · 36 · 38 · 44 + 08

$29 Million

And the check I would (hypothetically) receive on Monday down at the Lottery office.

Annuity

Cash

Mega Millions Jackpot for Aug. 10, 2012

$29,000,000

$22,000,000

Gross Prize

26 annual payments of $1,115,385

Lump-sum cash: $22,000,000

- 25% Federal Tax

- $278,846

- $5,500,000

Subtotal

$836,539

$16,500,000

- State Tax:

Arizona: 5% State Tax for In-State Residents

- $55,769

- $1,100,000

Your net per year: $780,770

Your net payout: $15,400,000

After 26 payments: $20,300,020

$15,400,000........... LOOKS PRETTY CLOSE TO HALF, IF YOU ASK ME.............

rdgrnr

100

The Hall Of The Mountain Kings Tennessee
United States
Member #73,902
April 28, 2009
15,378 Posts
Offline

Aug 12, 2012, 1:55 pm

Quote: Originally posted by RJOh on Aug 10, 2012
What people need and want today is tommorow's junk.

I wasn't talking about consumer goods and the latest gadgets.

More along the lines of real estate, farmland and water.
haymaker

Egg Harbor twp.south Jersey shore
United States
Member #112,963
June 29, 2011
4,160 Posts
Offline

Aug 12, 2012, 2:03 pm

Quote: Originally posted by rdgrnr on Aug 12, 2012
I wasn't talking about consumer goods and the latest gadgets.

More along the lines of real estate, farmland and water.

Yea, real estate, cause their not making it anymore,

except maybe hawaii, where they can't shut off that volcano.

Extraordinary Popular Delusions & the Madness of Crowds -- Charles Mackay LL.D.

New Topic New Poll

Subscribe to this topic

DO you really lose money if u take the annunity over the lump sum?Prev TopicNext Topic

DO you really lose money if u take the annunity over the lump sum?Prev Topic Next Topic