How much is "life changing"?

Reply #53

TheMeatman2005 — Sun, 17 Jul 2016 20:50:55 GMT

I just re-read your comment and saw that your calculation was based on the annuity amount.

I don't look at that amount since I would take the cash one lump sum.

Reply #52

TheMeatman2005 — Tue, 12 Jul 2016 14:36:21 GMT

According to this article in FORBES:

http://www.forbes.com/sites/janetnovack/2013/03/23/tax-on-320-million-powerball-jackpot-millions-more-than-in-2012/#7018de67471b

As for state and local income tax, since California doesn t impose its highest in the nation 13.3% state income tax on lottery winnings, the Big Apple AAPL +0.38% has the distinction of taking the biggest bite out of its own Powerball winners. New York City residents get hit with an 8.82% top statetax on income over around $2... [ More ]

Reply #51

lookingforca$h — Sat, 09 Jul 2016 11:36:03 GMT

15 million would still change most lives

288 million in PB is still in play

Reply #50

Think — Fri, 08 Jul 2016 21:01:43 GMT

A three way split wouldn't be bad. Neither would second place with a 5x MegaPlier

Reply #49

Drenick1 — Fri, 08 Jul 2016 17:59:18 GMT

I would be ecstatic even if it was split with 10 other winners. I realize odds are it will be 1-3 winners when it finally hits.

Reply #48

lulu1feather — Fri, 08 Jul 2016 16:42:31 GMT

Let's split it!

Good luck everyone

Reply #47

dr65 — Fri, 08 Jul 2016 16:27:34 GMT

Tonight's Mega jackpot is life changing, I'll take it....or even one tenth of it!

Gl players

Reply #46

maximumfun — Sat, 02 Jul 2016 05:43:14 GMT

how much is life changing... i am about 2 1/2 years from being totally out of debt... so at that point - any amount that my family decides is enough will be enough. Personally - I selected 20M - if that is the after tax amount then 20M would set up everyone and do what I intend to do.

Retirement is almost here regardless. Just need to GET OUT OF DEBT first!

Those peskie student loans have haunted me for my entire adult life. dh had a matching sum... it was the weight on our back. always

Reply #45

JackpotWanna — Thu, 30 Jun 2016 06:24:38 GMT

I voted for 5 million.

Reply #44

helpmewin — Mon, 27 Jun 2016 18:49:36 GMT

That's why you made the Thread,

To me Life changing would be what you give not what you get.

The more i Win the more i can give

Reply #43

John99 — Mon, 27 Jun 2016 18:22:58 GMT

50-100k could easily change my life. I could use that wisely for a few years, and do things I've been wanting to do for a bit.

Reply #42

TheMeatman2005 — Mon, 27 Jun 2016 18:07:04 GMT

I always get at least 1 Mega and 1 Power Ball ticket since you have to be in it to win it and like they say..... hey, you never know.

I also get 1 NYS Lotto ticket which gives you 2 games for $1 and has better odd than all the other lottery games.

Below is a chart copied from the NYS Lottery website.

If the jackpot is not won in any drawing, the First Prize Pool Money is carried forward and is added to the next LOTTO Jackpot. If there are no second prize winners, the second prize pool m... [ More ]

Reply #41

maxodds — Sun, 26 Jun 2016 03:12:53 GMT

And that's one of the reasons I will not play the Powerball and the Mega Millions... yet. $100,000 is good enough a life changer for me right now. For that reason I prefer to play a pick 5 game like Florida Fantasy 5, the odds of winning it is about 376,922, which means it is much easier to win.

The odd of winning the powerball jackpot is 292 million, good luck with that, when I have won the fantasy 5 I will move on to the powerball. Even with Mega Millions, the odds of winning it is a stagge... [ More ]

Reply #40

hearsetrax — Mon, 20 Jun 2016 09:56:33 GMT

of that I'd have no doubt jejeje

Reply #39

lottologix — Mon, 20 Jun 2016 00:01:54 GMT

65535 billion trillion dollars...:) I really dont think theres that much in circulation but I would feel I had just enough to get by at that point

Reply #38

TheMeatman2005 — Sun, 19 Jun 2016 21:36:11 GMT

I will take the current Mega jackpot of $333 mil ($226 mil cash value) as my LIFE CHANGING amount.

Reply #37

psykomo — Sun, 19 Jun 2016 13:20:53 GMT

finding $100 bill in the parking lot, luck think about it...is what Psyko need$$$ now

Reply #36

zephbe — Sun, 19 Jun 2016 12:32:54 GMT

If a man could have half of his wishes, he would double his troubles. Benjamin Franklin

Reply #35

One-Day — Wed, 15 Jun 2016 05:52:54 GMT

$1 Billion after taxes. That's life changing.

Reply #34

jjtheprince — Tue, 14 Jun 2016 19:01:23 GMT

$100,000,000 after taxes that is because I'm not very old.

Reply #33

Think — Tue, 14 Jun 2016 18:10:16 GMT

Ok, along the lines of not everybody being in the same situation, what if the person who won 10 million was 25 million in debt when they won the 10 million?

The problem with you or me imagining winning any sum of money is that no matter what we imagine we don't have infinite imaginations.

I used to want to win more and start some businesses but now that work, effort, success and wealth are under attack I only want to buy acerage

and live in the woods.

I had imagined so ma... [ More ]

Reply #32

HoLeeKau — Tue, 14 Jun 2016 16:23:54 GMT

Even if someone is 18 and lives in the most expensive city in the world, 10 million will change their life. One possibility would be to take 2 million to spend and invest the remaining 8 million. So, they spend 1 million on a home. $150K on a car. $500K on other toys. (Not everyone prizes home ownership, so they might spend that mil on something else that is important to them, but you get the idea. They have a WHOLE bunch of money to spend as they please.) Leaving $300K to live off until the fir... [ More ]

Reply #31

Think — Tue, 14 Jun 2016 14:47:25 GMT

Well Sacred Cow, there are many factors you are not considering!

You may be old and have accumulated many things and live in a low cost of living area but there are younger people on here and people who live

in really expensive areas.

10 million in your situation is NOT the same as 10 million in everyones situation! I know it may be hard for you to comprehend but not everbody is in the exact same situation as you!

Take 10 million in New York City vs 10 million pretty much... [ More ]

Reply #30

Funtimz — Tue, 14 Jun 2016 13:53:41 GMT

As well as enough to rent one of those Yachts (such as the ones on the show Below Deck) for a once in a lifetime experience...

Reply #29

HoLeeKau — Tue, 14 Jun 2016 13:28:37 GMT

IKR? There are a couple wealthy people on this thread if their lives are so good that it would require that much money to completely change it.

I mean, I understand WANTING more. If I had my choice I'd win 5 billion.

But a mere 10 million (cash after taxes) would easily allow me to retire. That's definitely life changing right there. It would also allow me to upgrade my home by 2 or 3 steps up the rung ($700K buys a really nice home in a good area here), allow me to buy a summer home, allo... [ More ]

Reply #28

noise-gate — Mon, 13 Jun 2016 22:26:22 GMT

l chose $20 mil after all taxes are paid. That's my # to cover present future expenses. Final word though-as John Lennon once sang you may say lm a dreamer.... I say : Let's win first then start dreaming

Reply #27

Drenick1 — Mon, 13 Jun 2016 14:10:16 GMT

I won $5 on the last draw so it's kind of hard to celebrate with that amount.

Reply #26

Drenick1 — Mon, 13 Jun 2016 14:08:45 GMT

Theme of the article is how much is life changing so you would be happy with anything higher than $2

Reply #25

music* — Mon, 13 Jun 2016 11:13:37 GMT

and time to celebrate

Reply #24

weshar75 — Mon, 13 Jun 2016 03:20:06 GMT

I bought a ticket for mega millions on tuesday night so I will go with anything mega millions wants to give me off my ticket. If it is $2 or higher I will be pleased either way.-weshar75

Reply #23

RedStang — Mon, 13 Jun 2016 02:06:10 GMT

5k a month would be good enough

Reply #22

lookingforca$h — Sun, 12 Jun 2016 21:16:43 GMT

$5 million. I would pay off the mortgage and pocket the rest to live off the interest

Reply #21

mypiemaster — Sun, 12 Jun 2016 18:38:12 GMT

$100 million after taxes. I don't exist in a vacuum. $50 million for me and the rest to help uplift some of the good people I know that don't seem to catch a break.

Reply #20

TheMeatman2005 — Sun, 12 Jun 2016 15:30:52 GMT

I would like a really nice house and a really nice (not extravagant) car too, but I don't want to have to work anymore. Isn't that what we play for? We want to win enough to be able to afford the finer thing in life and not ever have to punch a time clock ever again.

$1 million might be a good start (pay off bills, buy a house, car etc) but, that won't be enough to support a life-style down the road.

Reply #19

fatedtowin87 — Fri, 10 Jun 2016 22:06:45 GMT

I voted 1 million. That's enough for me to buy a really nice house in cash and get a great headstart on my retirement savings. With that amount I'd still have to work but it could be part time work for both me and my husband which is all I would need.

Reply #18

LottoLucy — Thu, 09 Jun 2016 17:36:05 GMT

I picked $3 million. That would be enough for a secure, middle class retirement right now if we wanted.

Reply #17

Think — Wed, 08 Jun 2016 19:31:50 GMT

No matter how many different ways I run the numbers I come up with $25,000,000 cash after taxes plus $5,000,000 in squandering bucks .

So, that would be $30,000,000.

The only reason I don't play for the Jackpots below the $120,000,000 annuity on MM and $700,000,000 annuity on PB is because they raised the

odds so fricken high.

I used to play all the time but they just kept getting ungrateful and making the games harder to win.

I play MM for JP or 2nd prize and I pla... [ More ]

Reply #16

Kingofearth — Wed, 08 Jun 2016 19:23:34 GMT

His math would still be wrong, very wrong.

Reply #15

Karate-1 — Wed, 08 Jun 2016 19:01:02 GMT

5 million for me...if you know to manage money that can go a looong way.

Reply #14

ArizonaDream — Wed, 08 Jun 2016 16:50:49 GMT

So, if I were to check back with you, say six months after you won (only) 10 million, your life would be esentially the same as it is today? Same type of work, same day to day routine? Living in the same town

Reply #13

Raven62 — Wed, 08 Jun 2016 15:48:14 GMT

One Hundred Million! (After Taxes

Reply #12

Funtimz — Wed, 08 Jun 2016 15:08:20 GMT

I chose $5 mill. My only debt is a mortgage and car payment.

Reply #11

bobby623 — Wed, 08 Jun 2016 14:47:37 GMT

The only multi-million dollar lottery I play is Texas Lotto 6/54.

The current jackpot is $11.5 million.

I might have trouble finding ways to spend that much, but, I'll manage

Reply #10

Mr E — Wed, 08 Jun 2016 12:39:10 GMT

Any amount that gets me debt free plus a house and new car would be life changing for me.

Reply #9

sully16 — Wed, 08 Jun 2016 12:16:35 GMT

5 million would be sweet.

Reply #8

ArizonaDream — Wed, 08 Jun 2016 10:41:24 GMT

Cash, after taxes, is what I asked about in my opening post for this thread, hoping to leave out discussion of different tax rates and advertised annuity values. Cash value, what you would have left to invest spend, is what matters.

Reply #7

Kingofearth — Wed, 08 Jun 2016 05:59:50 GMT

Your math is wrong. I calculated that for a NY resident living outside NYC or Yonkers, I would get roughly 41% of the advertised annuity. In order to get $20M ( thus splitting it and getting $10M) you would need at least $48M Annuity, not even taking into account the NYC withholding.

Reply #6

Kingofearth — Wed, 08 Jun 2016 05:54:50 GMT

$50,000,000 after taxes.

Life changing money is an amount that is so large, even most wealthy people would envy you.

Reply #5

TheGameGrl — Wed, 08 Jun 2016 02:39:04 GMT

I tend to think along the lines of having enough to enhance the lives of others, so that is LIVES Changing.

So 10 Million will do the job.

Reply #4

Candy-Lane — Wed, 08 Jun 2016 02:37:27 GMT

I actually clicked, or meant to click, on 5 stars. It must have been the way I touched the screen. Sorry!

I love the question and am very interested in the results.

Reply #3

TheMeatman2005 — Wed, 08 Jun 2016 00:11:47 GMT

I clicked $10 million.

Since this is a cash amount, I would have to win about $39 mil before taxes. And, after splitting with my brother, the after-tax amount would be approx $10 mil

I figure with that amount, I would have enough to do what I want and have some left over to leave in my will.

I would be more than happy with half a mil (clear), but the more the merrier.

Reply #2

ArizonaDream — Wed, 08 Jun 2016 00:07:05 GMT

Nailed it in one. I agree.

Although, I could see working a few more years, mostly for the cheap health insurance. But it sure would be nice to know it was by choice instead of necessity.

Reply #1

LiveInGreenBay — Tue, 07 Jun 2016 23:41:52 GMT

I chose a million. I guess it depends on your age, current income and debt. A million would retire me now. I call that life changing.

How much is "life changing"?

ArizonaDream — Tue, 07 Jun 2016 23:32:09 GMT

I got bored and started reading some very old threads. One surprised me, in how much disagreement there was in how large a win needed to be in order to be considered life changing .

What's your magic number? ( cash, after taxes )

For discussion, what does life changing mean to you