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That’s wild. After taxes, the cash payout is about $240-$290 mill. You’re richer than most celebrities at that point.
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The OFFICIAL Powerball and Megamillions thread:
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Agreed, But, you have to be in it to win it.. All it takes is $2.
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You alright fam? Some weird stuff you spewing.I Will HaveHoly, Wise, Righteous, Phat, Nubile, Sexy, Beautiful, Gorgeous, Lovely, Loving, Loyal, Eternal, Everlasting, 12 Older & 24 Younger Wives to Help Me Serve The Almighty Lord Good God King Savior Jesus Christ Forever, Perpetually, and For All Eternity. We Will Never Have Children, We Will Live Our Entire Eternal, Everlasting Lives In Dedicated Service To The One, True, Living God from Everlasting to Everlasting. All
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try to get in a few pools with family/friends/coworkers in coming days....
best way to keep it on up and up is group text with tickets
good luck!!!
best way to keep it on up and up is group text with tickets
good luck!!!
- 2,826
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I'm buying twice my usual number of tickets this Tuesday.
2 tickets
2 tickets
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Y'all love paying taxes
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$810 million now lets go buying my tickets tomorrow
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Where in the hell you live where 790 mill would yield you under 300?
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Cash Value the lotto takes away 40% off the rip
Then 37% federal tax rate + whatever your state tax is California I believe is 12%
$810 million jackpot, you'd receive about $240 million in California.
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I'm mid 30's, I'll take an annual payment. Need all the monies.
Wonder if there's a payday lender that'll cover 800 mil...? IT'S MY MONEY AND I WANT IT NOW!
Wonder if there's a payday lender that'll cover 800 mil...? IT'S MY MONEY AND I WANT IT NOW!
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You could just put $200 million away into some safe investments and it'd most likely be worth more than $800 million after 30 years.
6% annual return would be a bit over $1 billion
That's too much money to leave on the table
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You could just put $200 million away into some safe investments and it'd most likely be worth more than $800 million after 30 years.
6% annual return would be a bit over $1 billion
That's too much money to leave on the table
true. safe investments still gotta withdraw/sell and let it build up.
but guaranteed 20 mil in my mid-fifties would make for one great mid-life crisis
s0lefunk
Supporter
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Look at https://www.usamega.com/mega-millions/jackpot and https://dqydj.com/sp-500-return-calculator/ and then the time value of money to understand why you wouldn't receive the full jackpot even with the annuity payments. As suggested earlier between taxes and inflation (and risk of injury/death) you are better off taking the lump sum and investing it in dividend yielding securities. Over that same 30-yr period you could live nice off dividends and double, triple your investment or reinvest the dividends and 4-6x your money.
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Damn, following that site every state lump sum would be under 300 with Cali actually being one of the highest. Also didn't realize you would get so much back taking the payments, ie 511 over time vs 296 at once. Got me reconsidering. I mean what would stop you from still investing the payments?
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You'd only be able to make gains on the income as you receive it, rather than the lump sum all at once.
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Well yeah I get that, just trying to figure out what the gap would be in say investing 2/3 of the income of 510 over 30 years vs 2/3 of 296 million initially.
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Just jumped to $810 mil. Wild.
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Researching the numbers lead me to a comprehensive list of what do if you win the lottery (thread continued).
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If you win that much money and don't disappear with your family, you're an idiot.
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Frink85 LLC about to get this money tomorrow
s0lefunk
Supporter
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For simplicity let's assume you invest 100% of the annuity and lump sum. A very crude way is to calculate the present value of the annuity payouts/cash flows in comparison to the lump sum alternative. Let's use 8% as the annualized S&P500 rate of return (without dividend reinvesting) from the past 30 years which in this case will be our discount rate. Using the PV function in Excel, the annuity (17 mil every year for 30 years) discounted @ 8% is $191M. You see the PV of the annuity is almost 50% less than the $285M lump sum. If you use 10% as the discount rate which is the annualized S&P return with dividends reinvested the annuity's PV drops to $160M which is now about 80% less than the lump sum payout. Again, the jackpot number is a myth and it costs less for the lottery commission to pay you the annuity than the lump sum.
You could also do future value calculations and see how you'd be leaving one to a few billy on the table by investing $17M every year over 30 years versus letting the $285M work magic for 30 years. We didn't even factor in the decreased purchasing power of that $17M annual payout between inflation and more expensive purchase price for the securities due to capitals gains.
You leave a lot of money on the table taking the annuity which you might not even live to see. Take the lump sum, use some for fun, invest more, eat off dividends and pay me 10%
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I can’t wait to wake up rich tomorrow.
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Y’all pick your own numbers or let the machine?
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Spent $10. I never play but the office got my hyped.
