Lottery players

[Kevinicus]

you should be able to make that by investing the money you get each year too and you aren't leaving 120 million on the table to do it.


i just don't see any reason to need 346 million now instead of 480 million over 26 installments.

The non lump sum amount is based on the interest that would be earned on your money over time. There is absolutely no reason to not earn that interest on your own and avoid the risk of your family losing it all should something happen to you. You benefit nothing by spreading it out, but stand to lose a lot. You will earn WAY more interest starting with the lump sum amount than you would with much smaller yearly installments.

 

[kristie]

Well, I'm not a millionaire.....

i'm not either. still if no one else has won, i heard that the jackpot goes up to $975 million.

 

[Manwiththeplan]

i'm not either. still if no one else has won, i heard that the jackpot goes up to $975 million.

I garuntee atleast 3 people win, but the jack pot gets crazy high a few times a year, so maybe next time.

 

[Cajuncowboy]

you should be able to make that by investing the money you get each year too and you aren't leaving 120 million on the table to do it.


i just don't see any reason to need 346 million now instead of 480 million over 26 installments.

Well first of all, unless you have a crystal ball and are sure that you will live for the next 26 years or that the standing tax rate doesn't go up to say maybe 40% you take the known quantity. If you do that, you can effectively check out of the entire tax system for the rest of your life and probably your kid's life.

Also, you have the entire amount paid now and the government doesn't get to hold the money and make the interest off of it. You would have that option.

Further, taking the lump sum gives you more flexibility to invest without having to wait for the next annuity if you go belly up with the investment.

 

[Kristi]

One number right, 4. Romo's age (my dog). Guess, I won't be cashing that check outside this week. Maybe next Tuesday is my day.

 

[Hoofbite]

One number right, 4. Romo's age (my dog). Guess, I won't be cashing that check outside this week. Maybe next Tuesday is my day.

That double 23 is clearly rigged.

I demand a re-draw!!!

I think I pulled one number too.

Now I just wait to hear about the 85 year old person who won.

 

[Kristi]

Or that REALLY poor person that wins, but somehow has enough money to buy some lotto tickets.

My family should have been all over the number 23 this week given that's my grandma's birthday and it was last Friday. None of us took it. Shame on us.

Hope no one wins. I want another chance!!

 

[kristie]

One number right, 4. Romo's age (my dog). Guess, I won't be cashing that check outside this week. Maybe next Tuesday is my day.

me too.

 

[Kristi]

So are you guys ones to ride the same numbers or pick different ones each week?

 

[kristie]

Or that REALLY poor person that wins, but somehow has enough money to buy some lotto tickets.

My family should have been all over the number 23 this week given that's my grandma's birthday and it was last Friday. None of us took it. Shame on us.

Hope no one wins. I want another chance!!

so do i! i want to win!!!

 

[kristie]

So are you guys ones to ride the same numbers or pick different ones each week?

i tend to do both sometimes.

 

[Tusan_Homichi]

CNN.com breaking news:

Maryland lottery officials say a ticket purchased in Baltimore County hit the $640 million Mega Millions jackpot.

I sense a lot of disappointed folks out there tonight.

 

[kristie]

CNN.com breaking news:



I sense a lot of disappointed folks out there tonight.

i won't believe it until the jackpot is back down to $12 million or whatever the starting point is for the mega millions.

 

[Kristi]

How much do you win for 5 numbers?

29 of those tickets were purchased in California.

 

[kristie]

How much do you win for 5 numbers?

29 of those tickets were purchased in California.

$250,000

 

[Doomsday]

The government generated over $1.5 billion on the sales of tickets and will end up paying out around $323 million after taxes. Talk about a racket.

 

[Hoofbite]

The government generated over $1.5 billion on the sales of tickets and will end up paying out around $323 million after taxes. Talk about a racket.

In my state they put some of that money towards parks and wildlife stuff so I consider that a pretty good use.

 

[kristie]

In my state they put some of that money towards parks and wildlife stuff so I consider that a pretty good use.

that's cool.

 

[rkell87]

The government generated over $1.5 billion on the sales of tickets and will end up paying out around $323 million after taxes. Talk about a racket.