Randomness Dos
Randomness Dos
Hopefully the winner has seen this Reddit thread.
I think about this advice a lot for somebody who never plays the lottery.
I think about this advice a lot for somebody who never plays the lottery.
-
- Posts: 29558
- Joined: Wed Mar 25, 2015 1:45 pm
- Location: “MIMH is almost always correct” -ulf
Randomness Dos
I understand but also marketing it as 1.1 billion is false by ~300% which is...a lot...$300mm is still more than you'd know what to do with.
-
- Posts: 60997
- Joined: Sun Oct 04, 2015 2:00 pm
- Location: FUCΚ! Even in the future nothing works.
Randomness Dos
Give me $300m and I'll take my chances.Hopefully the winner has seen this Reddit thread.
I think about this advice a lot for somebody who never plays the lottery.
-
- Posts: 14877
- Joined: Thu Mar 26, 2015 7:09 pm
- Location: Across the River from Filthydelphia.
Randomness Dos
Sadly, very sadly, not me. About 1.5 hours away from me.@blackjack68 ???
Randomness Dos
Japanese pizza companies at it again.
-
- Posts: 7088
- Joined: Wed Mar 25, 2015 6:43 pm
- Location: Those who don't listen will eventually be surrounded by people with nothing to say
Randomness Dos
whats your pointI understand but also marketing it as 1.1 billion is false by ~300% which is...a lot...$300mm is still more than you'd know what to do with.
-
- Posts: 29558
- Joined: Wed Mar 25, 2015 1:45 pm
- Location: “MIMH is almost always correct” -ulf
Randomness Dos
that 1.1 billion and 300 million are significantly different and it’s lame that they’re able to market it as the former
-
- Posts: 42704
- Joined: Thu Mar 26, 2015 10:58 pm
- Location: More of a before-rehab friend...
- Contact:
Randomness Dos
$100,000 salary in NYC is actually only $23...but employers can still "market" it that way...
-
- Posts: 29558
- Joined: Wed Mar 25, 2015 1:45 pm
- Location: “MIMH is almost always correct” -ulf
Randomness Dos
I agree that that’s annoying too
Randomness Dos
Yeah but if you take the annuity option you end up netting roughly double your lump sum payout (at least, in PA).
Sure, you don't get as much up front, but your first check (with taxes and everything) is a cool $14MM, which is still like $13.9MM more than I would know what to do with.
Sure, you don't get as much up front, but your first check (with taxes and everything) is a cool $14MM, which is still like $13.9MM more than I would know what to do with.
Randomness Dos
I'll help you.
-
- Posts: 35758
- Joined: Tue Mar 24, 2015 2:06 pm
- Location: All things must pass. With six you get eggroll. No matter how thin you slice it, it's still baloney.
- Contact:
Randomness Dos
Yeah... in this instance, the 300 million is only if you take the lump sum in NJ. If you do the annuity, it's double that.
And it's not like the lottery is keeping the rest of the prize if you take the annuity. It goes to taxes. Fed and State. The advertised Jackpot is accurate. The fact that you don't get to keep all of it is just the way life works.
And it's not like the lottery is keeping the rest of the prize if you take the annuity. It goes to taxes. Fed and State. The advertised Jackpot is accurate. The fact that you don't get to keep all of it is just the way life works.
-
- Posts: 42704
- Joined: Thu Mar 26, 2015 10:58 pm
- Location: More of a before-rehab friend...
- Contact:
Randomness Dos
Maybe MIMH has finally come around on the notion that "taxation is theft" ![Wink ;)](./images/smilies/icon_e_wink.gif)
![Wink ;)](./images/smilies/icon_e_wink.gif)
Randomness Dos
I think when the money gets that high, I would take the annuity. I get the whole "you can beat that and make more by investing." but also, I am not going to be responsible. Who the hell am i kidding...
-
- Posts: 35758
- Joined: Tue Mar 24, 2015 2:06 pm
- Location: All things must pass. With six you get eggroll. No matter how thin you slice it, it's still baloney.
- Contact:
Randomness Dos
As Randall pointed out... you get like 14 or 19 million your first year depending on where you live, and then millions on millions each year after that. Either way (300 up front or 600 spread over the years), you're set for life as long as you're not a complete and total dumbass.
-
- Posts: 29558
- Joined: Wed Mar 25, 2015 1:45 pm
- Location: “MIMH is almost always correct” -ulf
-
- Posts: 7670
- Joined: Wed Mar 25, 2015 8:57 pm
Randomness Dos
IMO you still take the 300 up front, because if you die that’s it, no generational wealth. Stay out of the market and just invest in relatively high interest short term CDs. Just a quick glance shows some 7 month CDs at a 5 to 5.5% interest rate. A cool 50k on every million and you’re golden.
Randomness Dos
If you put the annuity in a blind trust I feel like that has to continue to pay out regardless of your possible demise, no?
-
- Posts: 7670
- Joined: Wed Mar 25, 2015 8:57 pm
Randomness Dos
Should have googled, yes an annuity typically goes to the heirs of the person. Make sure you have a solid will drafted in that case.If you put the annuity in a blind trust I feel like that has to continue to pay out regardless of your possible demise, no?
-
- Posts: 60997
- Joined: Sun Oct 04, 2015 2:00 pm
- Location: FUCΚ! Even in the future nothing works.
Randomness Dos
Source of the post Stay out of the market
![Image](https://media0.giphy.com/media/l3E6uhDAN3W7vylji/200w.gif?cid=6c09b9528forlorrl2v83nm8m1d36cxx9ynrv6y2p8x754lq&ep=v1_gifs_search&rid=200w.gif&ct=g)
-
- Posts: 7670
- Joined: Wed Mar 25, 2015 8:57 pm
Randomness Dos
Hey, I have no idea what I’d be doing. If you do, then go for it.Source of the post Stay out of the market![]()
-
- Posts: 60997
- Joined: Sun Oct 04, 2015 2:00 pm
- Location: FUCΚ! Even in the future nothing works.
Randomness Dos
Make sure you have this regardless, IMO.Source of the post Make sure you have a solid will drafted
Randomness Dos
This would be a surefire way for my wife's nieces and nephews to stop blowing her off for dinner.Should have googled, yes an annuity typically goes to the heirs of the person. Make sure you have a solid will drafted in that case.If you put the annuity in a blind trust I feel like that has to continue to pay out regardless of your possible demise, no?
![Laughing :lol:](./images/smilies/icon_lol.gif)
-
- Posts: 60997
- Joined: Sun Oct 04, 2015 2:00 pm
- Location: FUCΚ! Even in the future nothing works.
Randomness Dos
I'd be throwing a significant amount of money into VTSAX, just like I do now. That said, I do agree on high interest CDs, etc. for the rest.Hey, I have no idea what I’d be doing. If you do, then go for it.Source of the post Stay out of the market![]()
-
- Posts: 7670
- Joined: Wed Mar 25, 2015 8:57 pm
Randomness Dos
I’m also of the view that when big players hear there’s a new rich person looking to invest it’s hard to separate the sharks from the chum if you will. Trust the wrong money manager/investment professional and get ****. While they just look at it as another day and you’re just another fish to help them get their nut.
I'd be throwing a significant amount of money into VTSAX, just like I do now. That said, I do agree on high interest CDs, etc. for the rest.
Who is online
Users browsing this forum: tjand72 and 353 guests