DO you really lose money if u take the annunity over the lump sum?

Reply #125

rdgrnr — Tue, 28 Aug 2012 21:25:03 GMT

Somebody has to pay for the spending spree.

That's us.

Reply #124

Ronnie316 — Mon, 27 Aug 2012 05:53:58 GMT

The state made more than their fair share long before the pay out.

Reply #123

rdgrnr — Sun, 26 Aug 2012 23:04:34 GMT

It's all relative.

This'll clear up some aspects of it:

http://www.davemanuel.com/2010/11/04/what-percentage-of-federal-income-taxes-do-rich-people-really-pay/

Kinda makes you wonder what the libs are sniveling about.

Reply #122

Ronnie316 — Sun, 26 Aug 2012 20:10:56 GMT

Wait....... does this mean that anyone who pays taxes is rich

Reply #121

rdgrnr — Sun, 26 Aug 2012 13:25:14 GMT

One example is If i had 10 million dollars to give to my nephew, or whomever, it's taxed again but this time at 50%. WTF ?

If i already paid taxes on that 10 million which I netted after taxes, then why the heck should it be taxed again? Seriously?

Because in the current atmosphere in this country, if you're rich, you're the designated enemy of the people and must be punished.

50% of the people in this country pay no income taxes whatsoever and somebody has to pay to make up that... [ More ]

Reply #120

mcginnin56 — Sun, 26 Aug 2012 10:28:36 GMT

Screw the state. Lump sum all the way.

Reply #119

KY Floyd — Sun, 26 Aug 2012 08:26:00 GMT

Should my landscaper be exempt from paying income taxes because I pay him with my after tax income

Reply #118

savagegoose — Sun, 26 Aug 2012 08:15:09 GMT

thanks mac

yeah he looks to me that he considers his post more than your average member, certainly makes me look more thoughtful than i really am.

i have never had the privelige of winning big here. but we dont get taxed like in the US so the need to declare share holders on a ticket is moot.

I have seen claimants that have had their family all turn up to claim, and state they went shares, and 5 of them got checks. gotta think gift taxes are easily avoided that way. and im pretty s... [ More ]

Reply #117

wknightm — Sun, 26 Aug 2012 04:17:59 GMT

To me, the answer to that question is, who can invest my money better, the state or me?

I'd rather take my lump sum and invest it myself, so long as the fund doesn't have the title MADDOFF or CORZINE

Reply #116

mcginnin56 — Sat, 25 Aug 2012 11:09:01 GMT

I like your new monkey Avatar savage! He appears to be in deep contemplative thought, much like the members here.

Being shareholders in the ticket is brilliant , are you talking from experience of being such a shareholder.

Reply #115

savagegoose — Sat, 25 Aug 2012 06:19:59 GMT

thats why you make people you are going to gift money to share holders in the ticket. talk to your planner before claiming etc.

Reply #114

nickbrownsfan — Sat, 25 Aug 2012 05:46:37 GMT

this is so true, and I agree if you are paying tax FREE dollars to gamble why should you then have tagain. Not to mention at a 50% loss of the odds

Reply #113

mcginnin56 — Sat, 25 Aug 2012 04:11:05 GMT

Because that's the way the tax codes were designed by this government.

Ideally uncle Sam would like to see that original money change hands several times.

This way they can re-tax every new person that receives the original amount. Taxing multiple times is what the government does best.

Reply #112

onlymoney — Sat, 25 Aug 2012 03:56:51 GMT

You make a good point, however, the real injustice that should be discussed here in my opinion is the double taxation. It's an aberration ! It's a bummer and so uneccessary. One example is If i had 10 million dollars to give to my nephew, or whomever, it's taxed again but this time at 50%. WTF ?

If i already paid taxes on that 10 million which I netted after taxes, then why the heck should it be taxed again? Seriously

Reply #111

KY Floyd — Fri, 24 Aug 2012 19:07:18 GMT

There's a reason it's called income tax and not after-tax income tax .

Reply #110

Nikkicute — Fri, 24 Aug 2012 14:45:12 GMT

I lived here long enough!! I thought me and the State were BEST FRIENDS!

Guess not! lol

Reply #109

Ronnie316 — Fri, 24 Aug 2012 14:38:02 GMT

LOL. What? You thought the STATE was your friend

Reply #108

mcginnin56 — Fri, 24 Aug 2012 14:37:48 GMT

Sorry to burst your balloon Nikki!

The state is very greedy, more so than the fed's.

Good luck this evening.

Reply #107

Nikkicute — Fri, 24 Aug 2012 14:34:05 GMT

All this time I thought they took the State Tax out of whatever was left of the Federal amount!

No wonder my math was off!! Well..well..well..Look at the State!!!

They're going to get theirs right off the top!! lol

THANKS mcginnin56

He put the money into a retirement fund.

Reply #106

mcginnin56 — Fri, 24 Aug 2012 14:25:42 GMT

The original jackpot, whatever the amount was.

Reply #105

Nikkicute — Fri, 24 Aug 2012 14:20:42 GMT

Wait a minute...

When they take the 7.75% State Tax they take that out of the original $2 million not

the amount after they take the 25

Reply #104

mcginnin56 — Fri, 24 Aug 2012 14:15:50 GMT

Everything is negotiable, even taxes. Give the state some free advertising and you will see for yourself

Reply #103

Ronnie316 — Fri, 24 Aug 2012 14:11:44 GMT

Not a bad haul if you ask me............

Perhaps the state should have offered a $76k check per year for 26 years

Reply #102

mcginnin56 — Fri, 24 Aug 2012 14:00:15 GMT

That is exactly correct Nikki. With the combined state tax (7.75%), plus the federal tax (25%) = 32.75% total taxes.

The lump sum he took home ($1,345,000) represents 67.25% of $2 million, after the required 32.75% in taxes.

Reply #101

Nikkicute — Fri, 24 Aug 2012 13:31:27 GMT

A man in my state took the lump sum after winning $2 million.

How come he took home $1,345,000

That's way more than 25% Federal Taxes!

(Wisconsin state tax is 7.75

Reply #100

mediabrat — Thu, 23 Aug 2012 01:53:59 GMT

Menacing? I don't recall threatening you.

The only reason I quit is because I found what I was looking for much earlier than I expected. I was not interested in maintaining something that no longer served a purpose. You keep forgetting that I was not attempting to develop any sort of system.

Reply #99

Ronnie316 — Wed, 22 Aug 2012 16:36:38 GMT

OOOOOO, your post sounds menacing, I'm feeling frightened and intimidated. lol. lol. lol.

LOL. It was a joke dillweed.

I posted at the time that it was the greatest thing on LP................

It only stunk the place up BECAUSE YOU QUIT.

Reply #98

mediabrat — Wed, 22 Aug 2012 16:27:08 GMT

Are you STILL crying about that?

There are a number of things I could say about your attempt at trolling and thread hijacking, but it all boils down to this: This grudge you hold against me -- for reasons that only you understand -- is borderline harrassment and only serves to make you look bad.

Reply #97

Ronnie316 — Wed, 22 Aug 2012 14:07:07 GMT

Very nice mediabrat, perhaps now that we have exhausted this topic you would like to talk about how you stunk up the place with your one in 1000 blog

Reply #96

mcginnin56 — Wed, 22 Aug 2012 10:38:32 GMT

Holy Cow

Reply #95

mediabrat — Wed, 22 Aug 2012 00:21:46 GMT

Holy crap, we finally agree on something. Is the world coming to an end

Reply #94

Ronnie316 — Tue, 21 Aug 2012 14:46:11 GMT

Oh, and people should consult with a tax and financial advisor before buying (or having someone buy for them) ANY investment vehicle, pre-tax, after tax, annuity or otherwise.

Reply #93

Ronnie316 — Tue, 21 Aug 2012 03:52:04 GMT

Ok, so the queen of paranoia tells people they are paranoid. No surprise there. There is nothing paranoid about NOT putting the entirety of a persons wealth in the hands of the STATE

Reply #92

mediabrat — Tue, 21 Aug 2012 02:00:56 GMT

Careful, Floyd... wouldn't want you to be called a pro-government troll for bringing facts into the discussion when clearly hysteria and paranoia ought to rule the day.

Reply #91

mcginnin56 — Mon, 20 Aug 2012 11:08:16 GMT

Hands down, the absolute best advice I've ever heard on this site!!!

I'm shopping for a larger mattress, starting this morning LottoGuyBC.

Reply #90

LottoGuyBC — Mon, 20 Aug 2012 10:38:00 GMT

Take the money now and buy a Bigger mattress

Reply #89

KY Floyd — Mon, 20 Aug 2012 07:24:05 GMT

You can't get the very same annuity for two reasons

One is that you won't have the very same amount of money for buying an annuity. What you can do is buy a similar annuity with the same terms, but for only 55 to 65% of the one the state offers.

The second is that it won't come with the same guarantee as the one from the state. The one from the state will be guaranteed by both the state and the company the state buys it from. If a lottery annuity had been bought from, and was guaranteed by... [ More ]

Reply #88

Ronnie316 — Sun, 19 Aug 2012 22:45:16 GMT

Never mind, it was just another pro-government troll.

Reply #87

Ronnie316 — Sun, 19 Aug 2012 22:42:12 GMT

Oh wait, I left my Hummer running.

Reply #86

mediabrat — Sun, 19 Aug 2012 22:23:11 GMT

Does anyone else hear that? It's a buzzing noise, but it's got sort of a whine to it...

Reply #85

Ronnie316 — Sun, 19 Aug 2012 15:28:35 GMT

Hey mediabrat, are you one of those girls who drives an oversized golf cart in traffic and calls herself SMART

Reply #84

Ronnie316 — Sun, 19 Aug 2012 14:29:23 GMT

Here's the deal.......... you don't need the STATE to buy an annuity for you.........

You can buy THE VERY SAME ANNUITY on your own without the STATE.

Or you can but a better paying annuity, or use a savings account and get 1%.

Once you hand your wealth over to the STATE is absolutely perminate.

You lose ALL ability to chose and cash now will be waiting for your call.

Reply #83

savagegoose — Sun, 19 Aug 2012 07:28:01 GMT

i would guess the real diff is there is little chance you will lose your money with an anuity. but if you manage your money privatly there is.

the possibility to make over double the amount from interest on a cash payment is very real, and thats why most would go for it.

either way i would be a happy man,. and there are countless records of people going bankrupt even when winning the annuity and collecting that. because they cannot say no. and have no financial self control.

annuit... [ More ]

Reply #82

rdgrnr — Sun, 19 Aug 2012 03:10:50 GMT

The lunatic is on the grass.

The lunatic is on the grass.

Remembering

games and daisy chains and laughs.

Got to keep the loonies on the path.

The lunatic is in the hall.

The lunatics are in my hall.

The paper holds their folded faces to the floor

And every day the paper boy

brings more.

And if the dam breaks open many years too soon

And if

there is no room upon the hill

And if your head explodes with dark

forebodings too

I'll see you on the d... [ More ]

Reply #81

mediabrat — Sun, 19 Aug 2012 01:29:09 GMT

Just because you have no life and spend every waking moment here doesn't mean I'm required to do the same thing. If you don't like the fact that I'm not johnny-on-the-spot responding to your every inane thought, TOUGH. I have better things to do than to chase lunatics all over the place.

Reply #80

Ronnie316 — Sat, 18 Aug 2012 21:07:05 GMT

It is a fools choice. Here is a link from this very page offering a 7% annuity.

http://www.advisorworld.com/Guaranteed-Income/?utm_source=Google-Content utm_campaign=current-annuity-rates sfcampid=701E0000000Pi4t _kk=current%20annuity%20rates _kt=f8f7f8d1-04a0-4489-b8d0-858951f4a91e gclid=CKPq2dCI8rECFchdTAodvigA_g

As far as I'm concerned anyone who is dumb enough to put their wealth in the hand OF THE STATE is also dumb enough to call CASH NOW and pay HUGE FEES on top of PAYING THE TAX FO... [ More ]

Reply #79

Ronnie316 — Sat, 18 Aug 2012 20:57:13 GMT

Its more like a Nunnery.

Reply #78

haymaker — Sat, 18 Aug 2012 20:55:56 GMT

LOL 77 replies and you're the only one to catch that.

Reply #77

rdgrnr — Sat, 18 Aug 2012 13:10:43 GMT

First I need to know what an annunity is.

Is that like a convent

Reply #76

Ronnie316 — Fri, 17 Aug 2012 19:17:00 GMT

Awesome post KY Floyd, the one thing that hasn't been talked about much is the fact that there are (mucho) money managers out there whose sole purpose in life is to manage large amounts of money for people. It makes sense to me for a person to get the same safe return that the state gives, only on a smaller portion of the money and allow the rest to go for the higher returns that a money manager is paid to provide.

Reply #75

Ronnie316 — Fri, 17 Aug 2012 18:56:06 GMT

Ignore and avoid is a common tactic of the left wing government propaganda news networks.

No surprise that you enjoy using it as well mediabrat.

Reply #74

Ronnie316 — Fri, 17 Aug 2012 18:46:50 GMT

Any excuse will do. lol.lol.lol.

Reply #73

haymaker — Thu, 16 Aug 2012 22:32:18 GMT

My reason was, just left the dentist office and the novacaine was wearing off.

Reply #72

Ronnie316 — Thu, 16 Aug 2012 22:15:01 GMT

Reply #71

weshar75 — Thu, 16 Aug 2012 22:03:05 GMT

I'll take some of that single barrell. It tastes very good going down.-weshar75

Reply #70

Ronnie316 — Thu, 16 Aug 2012 21:58:40 GMT

You could just buy gold and put in a safe deposit box in Jamaica man.

Reply #69

Ronnie316 — Thu, 16 Aug 2012 21:56:46 GMT

FDIC insures up to $100k and they may have changed it to $200k but either way thats all you get after a melt down.

There are 1000s of money managers out there.

Most will suggest putting your money into groups....

example

1. safe

2. semi safe.

3. risk.

Reply #68

GYM RICE — Thu, 16 Aug 2012 16:12:19 GMT

Someone wins 100 million dollars and they start thinking about making more money out of it or trying to double it etc. I say why bother if you don't know what you're doing. Most people don't belong in the stock market and know very little about investing. So they have to bring in people(strangers in more cases than not) to invest their money. Why not just keep the money you have in the cash option and live off the interest of a few % points in a CDAR'S account in many banks but with one simple a... [ More ]

Reply #67

Ronnie316 — Thu, 16 Aug 2012 14:49:23 GMT

Now that's the mixed up mediabrat we all know and love. You had me concerned with that rational and reasonable post about annuities.

You may not be a Marxist mediabrat, and you may not be willing to admit that our leader is one, BUT HE IS............ and he has been from his youth, so its not too hard to decipher.

Reply #66

mediabrat — Thu, 16 Aug 2012 03:17:23 GMT

Oh, stop it. Disagrees with Ronnie is not the same thing as incapable of independent thought . Nor does it mean Marxist .

Reply #65

rdgrnr — Thu, 16 Aug 2012 00:06:45 GMT

Glad she didn't cut herself shavin'.

Reply #64

Ronnie316 — Wed, 15 Aug 2012 22:10:23 GMT

I will drink to THAT,,,,,,,,.......,,,,,,,,..........,,,,,,,..........,,,,,,

Reply #63

mcginnin56 — Wed, 15 Aug 2012 17:22:59 GMT

Your best bet is to invest into Jack Daniels. People drink that rot gut whether happy, depressed, suicidal, celebrating or just pretty much for

any reason under the sun.

Reply #62

markp1950 — Wed, 15 Aug 2012 16:37:43 GMT

Yep, but by the time the government gets their hands on it, you're in the $120 million range.

Only $120,000,000? I might have to apply for welfare!

My calculator says: 213.3 mil cash works into 127 mill range.

I bee verry verry happy!

Now where do I put it.

Annuity might not be there because of govt bankruptcy..

Put it into a bank and unregulated banks do something stupid and my money ends up into the hands of the owners of the banks.

I like Iowa farmland but that is slowly... [ More ]

Reply #61

KY Floyd — Wed, 15 Aug 2012 15:32:47 GMT

It's hard to go wrong with an annuity that will pay $1 million or more for 20 to 30 years. The lottery gets to invest the cash value without paying any taxes on it. The winner who takes the cash only gets to invest the 55 to 65% they get after paying taxes. That means that to generate the same annual income the winner need to get 1.5 to 1.8 times the rate of return that the lottery gets. Of course the lottery annuity is a conservative investment because they want to make sure the investment does... [ More ]

Reply #60

Ronnie316 — Wed, 15 Aug 2012 15:03:33 GMT

Perhaps with a re-election and a mandate for Marxism it will be time to outlaw hate speech against our beloved governmental powers

Reply #59

mcginnin56 — Wed, 15 Aug 2012 14:22:03 GMT

Reply #58

Ronnie316 — Wed, 15 Aug 2012 13:56:16 GMT

Careful med, your sounding a little like someone who is capable of independent thought.

Your Marxist leaders will NOT approve of your move toward the fringe

Reply #57

mediabrat — Wed, 15 Aug 2012 08:25:05 GMT

Informative post, thank you. It confirms my thoughts about the annuity option, that it's not the fool's choice so many here would have you believe (and that the cash option isn't the stone-cold lock it's portrayed as).

This is not to say, though, that one should never take the cash or never take the annuity. What I've been saying all along is that everyone has different wants and needs, so what would be a good decision for one person might be a bad decision for another. For some people it mak... [ More ]

Reply #56

savagegoose — Wed, 15 Aug 2012 06:04:31 GMT

its an interesting thought there ky floyd. bond markets are liquid. and they trade to match the yield that current issues provide. ie 1 $100 bond that still attracts a 10% rate will sell for $108 makeing the yield 2%. is the lotto winners annuity tied even tighter than just bonds? or invested in ann illiquid market where there is no buyer

Reply #55

KY Floyd — Wed, 15 Aug 2012 05:53:00 GMT

It depends on how the annuity was funded. If a 25 year annuity is funded with 25 year bonds then the rate is fixed. If it's funded with shorter term bonds the rate may (almost certainly will) change when the bond reaches maturity and the principal is used to buy another bond.

Of course that's irrelevant. What matters is that an annuity is a promise to pay a certain amount of money on a certain schedule. How to fund it is up to the entity promising to make the payments. If interest rates are 8... [ More ]

Reply #54

Ronnie316 — Wed, 15 Aug 2012 02:08:39 GMT

Wow, Id be happy to know one or two that well.... Coin knows almost 20.

Nice work Coin.

Reply #53

mcginnin56 — Tue, 14 Aug 2012 23:33:59 GMT

You really know your girls

Reply #52

Coin Toss — Tue, 14 Aug 2012 23:25:52 GMT

FYI mediabrat, here's you bubbly blondes of Fox News:

Brenda Buttner

She graduated from HarvardUniversitywith honors

with a bachelor's degree in social studies.

Buttner went on to be a Rhodes Scholar at Oxford University,

where she graduated with high honors and

a bachelor's degree in politics and economics.

Shannon Bream

She is a graduate of Liberty Universityand earned a Juris Doctorate

with honors from FloridaStateUniversityCollegeof Law.

Gretchen Ca... [ More ]

Reply #51

Ronnie316 — Tue, 14 Aug 2012 20:59:27 GMT

Fox news is more left wing than CNN was 5 years ago, but they have to be in order to stay just right of the elected runnaway Marxist elite that are in power now.

Reply #50

mediabrat — Tue, 14 Aug 2012 20:38:36 GMT

Correct me if I'm wrong, but aren't the rates on the bonds that fund the annuity fixed? Does anyone have documentation either way

Reply #49

mediabrat — Tue, 14 Aug 2012 20:35:58 GMT

Conservative wingnuts do the same thing. Congressmen, governors, presidential candidates, talk radio hosts, bubbly blondes on Fox News ... they all think the average American is stupid. In fact, they count on it.

Reply #48

mcginnin56 — Tue, 14 Aug 2012 17:54:10 GMT

Reply #47

billionaire2bee — Tue, 14 Aug 2012 17:47:52 GMT

You dont believe it??? Email them and ask how they payout the jackpot amount...They will send you an answer within a couple days...I reread it too and I didnt see it but I know that how they do it caused I asked.

Reply #46

Stack47 — Tue, 14 Aug 2012 17:03:16 GMT

I decided long ago to take the cash but anyone considering taking the annuity should consult with a credited financial planner before making that decision.

The fine print of the $1 million prize given by America's Got Talent is a 40 year annuity at $25,000 a year. Wonder how much cash J.G. Wentworth would give for that annuity if the winner needs their cash now .

Reply #45

rdgrnr — Mon, 13 Aug 2012 22:15:25 GMT

Yeah, funny how that works, ain't it.

Reply #44

mcginnin56 — Mon, 13 Aug 2012 22:04:43 GMT

Just finished reading as well, found nothing mentioned to that effect.

Reply #43

Ronnie316 — Mon, 13 Aug 2012 21:40:12 GMT

I just read all 11 pages and it said nothing about them keeping half.........

http://www.nc-educationlottery.org/uploads/docs/8.04A%20Powerball%20Game%20Rules.pdf

Reply #42

billionaire2bee — Mon, 13 Aug 2012 21:22:57 GMT

I know there is no $305 million...thats est value...that means if you take the annunity in your state lottos fine print anyways I was refering to my states lotto page when they specificaly say that they do not havethe advertised amount on hand but they give whatever is in the jackpot to the winner minus half and less taxes...Im in NC go to our lotto home page and check it out...that's where I got that from

Reply #41

time*treat — Mon, 13 Aug 2012 17:02:21 GMT

People who took the annuity when interest rates (or whatever benchmark they use) were higher may be in for an unpleasant surprise.

Reply #40

Ronnie316 — Mon, 13 Aug 2012 16:33:44 GMT

Thanks for that info Stack47, I had no idea thats how they est. the JP but now I know.

Reply #39

Stack47 — Mon, 13 Aug 2012 16:19:36 GMT

The advertised jackpot is based on the amount the cash value can get for a 30 year annuity. The current interest rate decides how much so at times the jackpot could be more than twice as high as the cash value or only 50% higher as it is now. The rate can change from one jackpot to the next. The current rate of return on a $203.3 million safe annuity is about 1.4% annually. For the advertised jackpot to be twice as high as the cash value, the annuity would have to pay 2.4% annually.

The state... [ More ]

Reply #38

Ronnie316 — Mon, 13 Aug 2012 16:08:54 GMT

Exactly right GYM RICE, the liberal leftist has a habit of treating the unelite like they are stupid. It doesn't take a genius to realize that we pay tax in the amount of 70% after you add up all the different underhanded schemes they use to collect from us every day of the week.

Reply #37

GYM RICE — Mon, 13 Aug 2012 15:57:54 GMT

One doesn't have to wear a tinfoil hat to know that the tax rate in America was over 70% not that long ago. One also doesn't have to wear a tinfoil hat to know that some sort of socialistic government is in our near future. The tax rate will never be lower than it is today. In fact, it has the potential to go well over 50% sooner rather than later. Now that everybody is use to seeing $3+ gas on a regular basis, we will never see it go below $3. And when they bring the top tax bracket over 50%, i... [ More ]

Reply #36

time*treat — Mon, 13 Aug 2012 14:52:14 GMT

Make sure it's in a state where the govt doesn't presume ownership of the groundwater and rain (except when the roof leaks or your basement floods. That water, you own).

Reply #35

Ronnie316 — Mon, 13 Aug 2012 14:47:11 GMT

If our Marxist government made tin foil hats a right it would be illegal to NOT own one.

Reply #34

DisplacedLurker — Mon, 13 Aug 2012 05:15:07 GMT

I humbly agree with you on this. In the event that anything should happen to society, the value of the dollar, and the failure of banks, regardless if you chose it or the lottery commission does, if the event was that dire, it would be rendered useless. Maybe you would be able to prevent which bank would fail on you, but if the economy was that far down the toilet, it would happen eventually. Even if you had investments in real estate, like you said, if nobody can afford it then it just hurts yo... [ More ]

Reply #33

Ronnie316 — Sun, 12 Aug 2012 22:47:50 GMT

Reply #32

mediabrat — Sun, 12 Aug 2012 22:43:14 GMT

Your tinfoil hat needs adjusting, possibly repair.

Just to expand upon Coin's post regarding the difference between the cash value and the estimated annuitized jackpot : The lump sum exists regardless of the payment method the winner chooses. It's either paid out immediately or used to fund the annuity. The rest of the money, of course, comes from the interest that builds up on the principal over the years. The reason why it takes a couple weeks to receive your money -- again, regardless of l... [ More ]

Reply #31

Piaceri — Sun, 12 Aug 2012 21:43:11 GMT

At my advanced age, why yes, I'd lose out because I'll probably be dead before I see the final payment.

A bird in the hand is worth 2 in the bush. Or so they say.

Reply #30

dognabit — Sun, 12 Aug 2012 18:42:26 GMT

I couldn't agree more.

Reply #29

haymaker — Sun, 12 Aug 2012 18:03:16 GMT

Yea, real estate, cause their not making it anymore,

except maybe hawaii, where they can't shut off that volcano.

Reply #28

rdgrnr — Sun, 12 Aug 2012 17:55:56 GMT

I wasn't talking about consumer goods and the latest gadgets.

More along the lines of real estate, farmland and water.

Reply #27

Ronnie316 — Sun, 12 Aug 2012 17:45:48 GMT

You make a good point onlymoney but consider the MM Jackpot I won Friday ............

Friday, August 10, 2012 10 18 36 38 44 + 08 4 $29 Million

And the check I would (hypothetically) receive on Monday down at the Lottery office.

Annuity Cash

Mega Millions Jackpot for Aug. 10, 2012

$29,000,000

$22,000,000

Gross Prize 26 annual payments of $1,115,385

Lump-sum cash: $22,000,000

- 25% Federal Tax - $278,846

Reply #26

Coin Toss — Sun, 12 Aug 2012 17:42:30 GMT

Ronnie316,

It's one of the things I leanred here at LP.

The advertised jackpot, as a 'stash of cash' does not exist. The advertsied jackpot is what an annuity paid out over a number of years would be (pre-tax).

That's why the lump sum is a lesser amount.

Should someone win the PB Wednesday night and say Pay me the $305 million now , well, there is no $305 million set aside to pay someome with.