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The OFFICIAL Powerball and Megamillions thread:
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Where do you even keep All that money? You can't just pull up to Chase and deposit 1B into your checking account...lol
Mr Dink
formerly foamposite xi
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Crazy thing about the 1.3 billion jackpot.
If a super rich guy were to buy every possible combination for $584 million, he'd still gain money.
If a super rich guy were to buy every possible combination for $584 million, he'd still gain money.
Mr Dink
formerly foamposite xi
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I do.Ain't nobody in need of 1.3 bil
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Ain't nobody in need of 1.3 bil
Truth. Unless it's put in the hands of the next Mother Teresa. Which hasn't happened in lotto history....but hey, neither has it ever reach a billion.
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Ain't nobody in need of 1.3 bil
Lol speak for yourself. I'm trying to retire early
Nike Jordan
Supporter
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Inside the mattress.
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Not if there was multiple winners...
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This website gives a fairly accurate breakdown of how much you would get in each state either over 30 years or the cash option. https://www.usamega.com/powerball-jackpot.asp
quise2024
Banned
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Baffles me when adults ask this .. wonder how many people are out there with more than 250k in a regular bank acct
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Its 803M BEFORE taxes. Minus federal tax minus state tax minus other debts. You almost always end up with less than half of the "advertised estimated total"( which is what you would get if you took the annuity) You get more for taking the annuity because it accounts for inflation.
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I want to participate but i would hate for my daughters mom to come up on my luck.
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This is NOT smart. Sure you could set up a blind trust and have the trustee claim the prize on your behalf. The problem is that by setting up that trust a trustee has to be named. And if the trustee is NOT you(in order to stay anonymous... somewhat) that means that you are handing over complete control over your money to someone else. Control to spend and make investments among other things on behalf of the TRUST. And in many states it is difficult to have a trust revoked or amended.
Not to mention that fact that we live in the internet/social media age. All it would take is 1 smart person to figure out who the beneficiaries of the trusts are and voila, despite your hardest efforts, your name is out there anyway. The only difference is you NO LONGER CONTROL YOUR OWN MONEY!!!!!!
Besides, if you are a young person, you would be an absolute idiot to take the lump sum. At this prize level you are leaving 300M on the table.Might as well take the annuity and get paid a graduated annuity that starts out at 13-15M and by year 30 you are getting 55-60M/year. At least this way you learn how to manage that much money first.
Also, little known fact, by law, you still have the right to change your mind and take the lump sum for a certain amount of time AFTER accepting the annuity.It differs in each state but its usually about up to 1 year afterwards. So take the annuity, ball out for a year and then switch to the lump sum when no one cares anymore. Thats the best way to go.
UNLESS you live in a state where you can remain anonymous(DE, KS, MD, ND, OH) So if you live near one of these states' lines go pick up a lottery ticket there.
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For those who plan on playing Wednesday here is a tip.
Dont spend any time worrying about the 5 white balls, just use the QP option for those.
Your main focus should be on the Powerballs. You cant win the jackpot without it and it will add money to any smaller prizes you may win.
Once you have the powerball correct your odds of winning increases dramatically
from 1 in 292M to 1 in 11M.
So if you are playing in a lottery pool with a good amount of money being played just cover ALL the Powerball numbers.
$52 guarantees you will get the Powerball correct at least 1 time or....
$104 for 2 times
$156 for 3 times
$208 for 4 times
and so on and so forth.
If I was one of those NBA basketball players that will undoubtedly blow 10 or 15K on the lottery, this is how I would do it.
Dont spend any time worrying about the 5 white balls, just use the QP option for those.
Your main focus should be on the Powerballs. You cant win the jackpot without it and it will add money to any smaller prizes you may win.
Once you have the powerball correct your odds of winning increases dramatically
from 1 in 292M to 1 in 11M.
So if you are playing in a lottery pool with a good amount of money being played just cover ALL the Powerball numbers.
$52 guarantees you will get the Powerball correct at least 1 time or....
$104 for 2 times
$156 for 3 times
$208 for 4 times
and so on and so forth.
If I was one of those NBA basketball players that will undoubtedly blow 10 or 15K on the lottery, this is how I would do it.
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who said a trust? I said a company. Create an LLC, let that claim it, the rep that speaks at the press conference doesn't control the money or investments. Peace of cake. You can do that in a half hour on legalzoom. Pass on the annuity as well. Lump sum over all. Pay the taxes and then invest the rest right then. Anything can happen in the future.
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Dead @ EWD Tech
A ******* billion dollars. If it's not me, family or friends, I just hope it goes to someone in their 20s that's conscious. Live it up and help others. BUT I really hope it's me.
A ******* billion dollars. If it's not me, family or friends, I just hope it goes to someone in their 20s that's conscious. Live it up and help others. BUT I really hope it's me.
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Yeah, taking the annuity is the potato way. I already explained it earlier in this thread but the ahort answer is always take the lump sum
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why take the lump sum and leave all that money on the table?
Because money today is worth more than money ten years from now for a variety of reasons. Like a million dollars used to be a lot of money. Now that's like buy a house in San Francisco type money. With the lump sum, you could invest it and make gains on it now than wait year after year for it to trickle down.
antidope
Supporter
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Time value of money for one thing. Is there even satransfer on death rule for the annuity payment? What happens if I die?
Lump sum is the far superior option.
Lump sum is the far superior option.
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whats the prize winning for the power ball number only??
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If you die the money goes to the heirs . So the money continue to come in.
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antidope
Supporter
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I'd need to see that in writing somewhere on that website to believe that
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