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HoLeeKau

Idaho
United States
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Jan 12, 2016, 10:48 am
http://finance.yahoo.com/news/heres-mark-cubans-advice-winner-135430907.html

My favorite:
- Tell all your friends and relatives no. They will ask. Tell them no. If you are close to them, you already know who needs help and what they need. Feel free to help SOME, but talk to your accountant before you do anything and remember this, no one needs $1 million for anything. No one needs $100,000 for anything. Anyone who asks is not your friend.
Romancandle

Upacreek
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Jan 12, 2016, 4:35 pm
Quote: Originally posted by HoLeeKau on Jan 12, 2016
http://finance.yahoo.com/news/heres-mark-cubans-advice-winner-135430907.html

My favorite:
- Tell all your friends and relatives no. They will ask. Tell them no. If you are close to them, you already know who needs help and what they need. Feel free to help SOME, but talk to your accountant before you do anything and remember this, no one needs $1 million for anything. No one needs $100,000 for anything. Anyone who asks is not your friend.
He recommends taking the annuity...

-RC
haymaker

Egg Harbor twp.south Jersey shore
United States
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June 29, 2011
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Jan 12, 2016, 4:51 pm

Quote: Originally posted by Romancandle on Jan 12, 2016
He recommends taking the annuity...

That's where I stopped reading...did he say anything worthwhile after that ?

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

Greenville, SC
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Jan 12, 2016, 4:55 pm

I agreed with most. FDIC only, ONLY insures up to $250,000.. So, keeping it in the bank isn't feasible. I don't know about money market accounts. Taking the annuity can be good and bad. It all depends on your spending habits. There's really not much I want to buy. I mean, less than $100,000. I mean, besides a house. I just bought a brand new car and can pay that off whenever. I'm thinking about traveling and having the time to do things I've always wanted to do.

May the balls bounce in your favor!
MaximumMillions

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Jan 12, 2016, 5:25 pm

Quote: Originally posted by travelintrucker on Jan 12, 2016
I agreed with most. FDIC only, ONLY insures up to $250,000.. So, keeping it in the bank isn't feasible. I don't know about money market accounts. Taking the annuity can be good and bad. It all depends on your spending habits. There's really not much I want to buy. I mean, less than $100,000. I mean, besides a house. I just bought a brand new car and can pay that off whenever. I'm thinking about traveling and having the time to do things I've always wanted to do.

US Treasury Bonds are backed by the government. If the US government goes down to the point where it falls and the military can't even prop it up you can forget about your money anyway.

You can keep 50M$ in a CDARS account, it's a service that splits the money into 250k$ accounts and gives you one account and one statement
sthl129

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January 11, 2016
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Jan 12, 2016, 6:20 pm

Quote: Originally posted by MaximumMillions on Jan 12, 2016
US Treasury Bonds are backed by the government. If the US government goes down to the point where it falls and the military can't even prop it up you can forget about your money anyway.

You can keep 50M$ in a CDARS account, it's a service that splits the money into 250k$ accounts and gives you one account and one statement

What a great problem to have!! I hope I win so that I can learn how one protects 1 billion dollars. I guess I would need 20 CDARS accounts? LOL. I would absolutely need a good team of tax accountants and financial advisers to help manage this.
LottoBux

25

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Jan 12, 2016, 7:16 pm

Quote: Originally posted by Romancandle on Jan 12, 2016
He recommends taking the annuity...

What Would The Annuity Be On A Jackpot Of This Magnitude?
ArizonaDream

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October 10, 2015
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Jan 12, 2016, 8:51 pm
- Tell all your friends and relatives no. They will ask. Tell them no. If you are close to them, you already know who needs help and what they need. Feel free to help SOME, but talk to your accountant before you do anything and remember this, no one needs $1 million for anything. No one needs $100,000 for anything. Anyone who asks is not your friend.
No. That's OK advice for the winner of 1 million or 5 million. But at the current levels, why not give to CLOSE friends and relatives?
MaximumMillions

Germany
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Jan 13, 2016, 10:05 am

Quote: Originally posted by LottoBux on Jan 12, 2016
What Would The Annuity Be On A Jackpot Of This Magnitude?

The advertised 1.5 billion dollars.
haymaker

Egg Harbor twp.south Jersey shore
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June 29, 2011
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Jan 13, 2016, 10:25 am

Quote: Originally posted by MaximumMillions on Jan 13, 2016
The advertised 1.5 billion dollars.

I think LOTTOBUX was wondering what the annual payment would be.

I have no idea ?

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

Idaho
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Jan 13, 2016, 10:46 am

Click on this icon on the left and find your state to find out.
lcoleman

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Jan 13, 2016, 3:14 pm
Quote: Originally posted by ArizonaDream on Jan 12, 2016
- Tell all your friends and relatives no. They will ask. Tell them no. If you are close to them, you already know who needs help and what they need. Feel free to help SOME, but talk to your accountant before you do anything and remember this, no one needs $1 million for anything. No one needs $100,000 for anything. Anyone who asks is not your friend.
No. That's OK advice for the winner of 1 million or 5 million. But at the current levels, why not give to CLOSE friends and relatives?
And this is the last thing he said before he went bankrupt haha.

The problem is it becomes habit. So if this is what you want to do you must set up hard limits meaning you have to abide by the limits you set. With the cost of homes, superyachts (even charters), and bail for some people, I can easily see someone blowing thru this if they're not paying attention. I'm sure people thought theyd never blow through 20 million or 100 million before. It's not only possible, it's happened.
Lucky4Life

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Jan 13, 2016, 3:17 pm

I would never take an annuity because I don't trust the state of Florida to pay it out over the next 30 years. I'll take the money now.
Lucky4Life

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Jan 13, 2016, 3:19 pm
Quote: Originally posted by ArizonaDream on Jan 12, 2016
- Tell all your friends and relatives no. They will ask. Tell them no. If you are close to them, you already know who needs help and what they need. Feel free to help SOME, but talk to your accountant before you do anything and remember this, no one needs $1 million for anything. No one needs $100,000 for anything. Anyone who asks is not your friend.
No. That's OK advice for the winner of 1 million or 5 million. But at the current levels, why not give to CLOSE friends and relatives?
There's the gift tax to consider. That 1 million will become 1.5 million, so on and so forth. I would give my mother money and that is the only person I would pay gift tax on. Which is something I find incredibly asinine about the gift tax system. I can marry any Joe off the street, give him half my money tax free yet my mother who birthed me and suffered me through my teenage years has to pay estate tax when I die or I have to pay a gift tax while i'm alive. Unbelievable.
bigdaddy

BETWEEN OAKRIDGE AND WRIGHT-PATTERSON AFB
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Jan 13, 2016, 3:20 pm

buy 10 million shares of the realty group stock symbol o and live off the monthly dividends

Relax,Bigdaddy has your number

turning $30 or less into thousands everyday!!

here we go steelers ..here we go---------stairway to seven

TIME FOR THE LOMBARDI TROPHY TO COME HOME..

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