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

Topic closed. 125 replies. Last post 4 years ago by rdgrnr.

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LottoGuyBC's avatar - Lottery-050.jpg
British Columbia
Canada
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September 4, 2011
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Posted: August 20, 2012, 6:38 am - IP Logged

Take the money now and buy a Bigger mattress White Bounce

 

"You have to be in it to win it!"


    United States
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    May 25, 2011
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    Posted: August 20, 2012, 7:08 am - IP Logged

    Take the money now and buy a Bigger mattress White Bounce

     

     Hands down, the absolute best advice I've ever heard on this site!!!

     

    I'm shopping for a larger mattress, starting this morning LottoGuyBC. Yes Nod

     

      mediabrat's avatar - 18z0typ
      upstate NY
      United States
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      March 31, 2011
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      Posted: August 20, 2012, 10:00 pm - IP Logged

      You can't get the "very same annuity" for two reasons

      One is that you won't have the very same amount of money for buying an annuity. What you can do is buy a similar annuity with the same terms, but for only 55 to 65% of the one the state offers.

      The second is that it won't come with the same guarantee as the one from the state. The one from the state will be guaranteed by both the state and the company the state buys it from. If a lottery annuity had been bought from, and was guaranteed by, AIG and they had gone down the tubes instead of being bailed out the winner would continue to receive payments from the state. Anyone who took cash and then used it to buy an annuity from AIG would just be another in the long list of creditors hoping the bankruptcy process would result in getting at least a few cents on the dollar.

      Careful, Floyd... wouldn't want you to be called a "pro-government troll" for bringing facts into the discussion when clearly hysteria and paranoia ought to rule the day.

      Patriot


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        Posted: August 20, 2012, 11:52 pm - IP Logged

        Careful, Floyd... wouldn't want you to be called a "pro-government troll" for bringing facts into the discussion when clearly hysteria and paranoia ought to rule the day.

        Ok, so the queen of paranoia tells people they are paranoid. No surprise there. There is nothing paranoid about NOT putting the entirety of a persons wealth in the hands of the STATE


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          Posted: August 21, 2012, 10:46 am - IP Logged

          Oh, and people should consult with a tax and financial advisor before buying (or having someone buy for them) ANY investment vehicle, pre-tax, after tax, annuity or otherwise.

            mediabrat's avatar - 18z0typ
            upstate NY
            United States
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            March 31, 2011
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            Posted: August 21, 2012, 8:21 pm - IP Logged

            Oh, and people should consult with a tax and financial advisor before buying (or having someone buy for them) ANY investment vehicle, pre-tax, after tax, annuity or otherwise.

            Holy crap, we finally agree on something.  Is the world coming to an end?

            Patriot


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              Posted: August 22, 2012, 6:38 am - IP Logged

              Holy crap, we finally agree on something.  Is the world coming to an end?

              Holy Cow!  Blue Angel

               

                 


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                Posted: August 22, 2012, 10:07 am - IP Logged

                Holy crap, we finally agree on something.  Is the world coming to an end?

                Very nice mediabrat, perhaps now that we have exhausted this topic you would like to talk about how you stunk up the place with your "one in 1000" blog??

                  mediabrat's avatar - 18z0typ
                  upstate NY
                  United States
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                  March 31, 2011
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                  Posted: August 22, 2012, 12:27 pm - IP Logged

                  Very nice mediabrat, perhaps now that we have exhausted this topic you would like to talk about how you stunk up the place with your "one in 1000" blog??

                  Are you STILL crying about that?  Crying  Roll Eyes

                  There are a number of things I could say about your attempt at trolling and thread hijacking, but it all boils down to this:  This grudge you hold against me -- for reasons that only you understand -- is borderline harrassment and only serves to make you look bad.

                  Patriot


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                    Posted: August 22, 2012, 12:36 pm - IP Logged

                    OOOOOO, your post sounds menacing, I'm feeling frightened and intimidated. lol. lol. lol.

                    LOL. It was a joke dillweed.

                    I posted at the time that it was the greatest thing on LP................

                    It only stunk the place up BECAUSE YOU QUIT.

                      mediabrat's avatar - 18z0typ
                      upstate NY
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                      Member #108791
                      March 31, 2011
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                      Posted: August 22, 2012, 9:53 pm - IP Logged

                      OOOOOO, your post sounds menacing, I'm feeling frightened and intimidated. lol. lol. lol.

                      LOL. It was a joke dillweed.

                      I posted at the time that it was the greatest thing on LP................

                      It only stunk the place up BECAUSE YOU QUIT.

                      Menacing?  I don't recall threatening you.

                      The only reason I "quit" is because I found what I was looking for much earlier than I expected.  I was not interested in maintaining something that no longer served a purpose.  You keep forgetting that I was not attempting to develop any sort of system.

                      Patriot

                        Nikkicute's avatar - nnjx1k
                        Wisconsin
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                        February 17, 2012
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                        Posted: August 24, 2012, 9:31 am - IP Logged

                        A man in my state took the lump sum after winning $2 million.

                        How come he took home $1,345,000What?

                        That's way more than 25% Federal Taxes!

                        (Wisconsin state tax is 7.75%)


                          United States
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                          Posted: August 24, 2012, 10:00 am - IP Logged

                          A man in my state took the lump sum after winning $2 million.

                          How come he took home $1,345,000What?

                          That's way more than 25% Federal Taxes!

                          (Wisconsin state tax is 7.75%)

                          That is exactly correct Nikki. With the combined state tax (7.75%), plus the federal tax (25%) = 32.75% total taxes.

                          The lump sum he took home ($1,345,000) represents 67.25% of $2 million, after the required 32.75% in taxes. Type    Thumbs Up


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                            Posted: August 24, 2012, 10:11 am - IP Logged

                            Not a bad haul if you ask me............

                            Perhaps the state should have offered a $76k check per year for 26 years??


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                              Posted: August 24, 2012, 10:15 am - IP Logged

                              Not a bad haul if you ask me............

                              Perhaps the state should have offered a $76k check per year for 26 years??

                              Everything is negotiable, even taxes. Give the state some free advertising and you will see for yourself!    Idea