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Beginning Jackpots...

Topic closed. 18 replies. Last post 1 year ago by darthfury78.

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maringoman's avatar - images q=tbn:ANd9GcTbRxpKQmOfcCoUqF2FyqIOAwDo7rg9G-lfJLAALPGWJWwiz19eRw
Massachusetts
United States
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April 14, 2006
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Posted: June 5, 2015, 9:30 am - IP Logged

BananaI'm in. One line for both. No extras. Let's go go∴

That money's gone fo ever

    Coin Toss's avatar - shape barbed.jpg
    Zeta Reticuli Star System
    United States
    Member #30470
    January 17, 2006
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    Posted: June 5, 2015, 10:42 am - IP Logged

    Roll Eyes

    If you win the beginning MM jackpot, and take the annuity, your income for the next 30 years will be higher than 96% of American households. You may not be filthy rich, but as long as you don't get carried away, you should be able to live comfortably for the rest of your life.

    Murgatoyd,

    Each year or so the percentage of households that your income will be higher than will decrease.

    Consider if someone had won $15M or $40M 30 years ago and took the annuity.

    Those who run the lotteries love it when players look for consistency in something that's designed not to have any.

    Lep

    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.

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      Arizona
      United States
      Member #165073
      March 24, 2015
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      Posted: June 5, 2015, 10:51 am - IP Logged

      Don't forget that with the graduated annuity, you're getting a 5% raise every year. In year 1, you're getting about $225,000. In year 10, it's $350,000. In year 30, it's over $900,000. If the trend of the last thirty years continues, this will easily outpace growth in 95th-percentile household income.

      If someone in 1985 had won 6.7 million (the equivalent of 15 million today, adjusting for inflation), and had gotten it as an annuity following the current MM payment schedule, their payment this year would be about $415,000.

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        homestead
        United States
        Member #158182
        August 14, 2014
        132 Posts
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        Posted: June 5, 2015, 12:30 pm - IP Logged

        They only hold back 25% for federal taxes but the taxes owed are going to be a lot more.

        Not unless the person who wins the money invest it into the right stocks that could rise by 35%. This way, the gains from those investments could be used to pay the remaining 14.5% they owe. If one wants to invest the winnings, it's better to take the annuity because within a decade of winning, the value of the investments should exceed the initial winning amount won.