Hello My Fellow Lotto Players

Reply #44

pegleg — Sat, 18 Jan 2003 00:22:23 GMT

If this guy is a tax attorney, then the moon is made of green cheese. No tax attorney worth his salt would make a blanket statement to take an annuity over a cash payout without factoring in the persons age, health, and family obligations. Judging by his cavalier attitude about living life to the fullest tells me that I should not trust his judgement to advise me in how to manage my money. Just my opinion.pegleg

Reply #43

CASH Only — Fri, 17 Jan 2003 20:34:10 GMT

Andy: Have you heard the phrase Cash is KING ? That's why annuities are PAWNed.

Reply #42

AnnuityIsGreat — Fri, 17 Jan 2003 20:32:37 GMT

Lead the way CashBoy...tell me how so... BTW, i have this friend named Kevin who lives in NY as well who's still single.... Interested? let me know...

Reply #41

CASH Only — Fri, 17 Jan 2003 20:29:12 GMT

Andy: I'm converting you into a LUMP SUM player.

Reply #40

AnnuityIsGreat — Fri, 17 Jan 2003 20:27:40 GMT

Cash ... i got nothing against your preference but don't convert me into one.please i ask you...ok

Reply #39

CASH Only — Fri, 17 Jan 2003 20:25:49 GMT

Looks like we're getting somewhere finally.

Reply #38

AnnuityIsGreat — Fri, 17 Jan 2003 20:24:41 GMT

dude cash boy,I'm not into slapping nor am i into inserting things into hineys. i'm not gay! please please do not try to convert me into someone like you. i rather take lump sum rather than being gay. don't get me wrong. i have nothing against homosexuals but i am unforcomtable if one keeps mentioning hineys and slapping.

Reply #37

CASH Only — Fri, 17 Jan 2003 20:21:57 GMT

Andy: Did the doctor slap you when you were born? Probably not, since you need a real good slap in your FACE now

Reply #36

AnnuityIsGreat — Fri, 17 Jan 2003 20:18:51 GMT

uhhhh Cash.... can we not discuss my hiney.Geez dude, I'm not into guys... i thought i made it clear....

Reply #35

CASH Only — Fri, 17 Jan 2003 20:16:30 GMT

Andy: I said the ANNUITY up your hiney.

Reply #34

AnnuityIsGreat — Fri, 17 Jan 2003 20:15:00 GMT

Cash... Hmmm, no offense to homosexuals but I don't want you to any part of you up my hiney.If you're comfortable with your sexuality, great for you... but I'm into girls.Thanks though.

Reply #33

David1 — Fri, 17 Jan 2003 20:13:53 GMT

One can also put money into a CD account and make more money off the interest of your jackpot winnings.

Reply #32

CASH Only — Fri, 17 Jan 2003 20:12:40 GMT

Andy: If you want me to take your annuity, fine. I'll just shove it up your HINEY ;O

Reply #31

AnnuityIsGreat — Fri, 17 Jan 2003 20:11:20 GMT

wow, do you know radical means Cash Boy

Reply #30

CASH Only — Fri, 17 Jan 2003 20:01:36 GMT

Looks like your radical views aren't getting you anywhere.

Reply #29

AnnuityIsGreat — Fri, 17 Jan 2003 19:59:24 GMT

And what do you do for a living...Mr. Car Cash

Reply #28

CASH Only — Fri, 17 Jan 2003 19:57:00 GMT

Andy: I think you'd make a great politician. You're full of HOT AIR

Reply #27

AnnuityIsGreat — Fri, 17 Jan 2003 19:54:49 GMT

Cash Boy,I assume that voting process is tailored after the show Survivor .As I recall, you vote off people who are a threat.... That's okay though.... I'm here to post my views so people may see that...ANNUITY IS GREAT

Reply #26

CASH Only — Fri, 17 Jan 2003 19:52:52 GMT

Andy: Wouldn't it be great of one day Lottery Post members get to vote off a fellow member? I'd vote to have you get off the island

Reply #25

AnnuityIsGreat — Fri, 17 Jan 2003 19:50:08 GMT

Cash Boy,NO. Quit with the assumptions dude.

Reply #24

CASH Only — Fri, 17 Jan 2003 19:48:29 GMT

Andy: Could it be you also work for one of those companies that buys annuities from lottery winners who would have preferred LUMP SUM in the first place

Reply #23

AnnuityIsGreat — Fri, 17 Jan 2003 19:46:25 GMT

Thomas,Now, wer're factoring in death... Geez man, gotta live life to the fullest before you worry about things like that.Let me pose you a question, let's say you're annual income is $50K... and you receive another $300K from your annuity payments, factoring in $10K standard deduction and personal exemption for example, how much federal tax will you pay? (assuming you're filing single).Thomas, do you know what progressive tax rates are?That's exactly my point.

Reply #22

Thomas Covenant — Fri, 17 Jan 2003 16:29:54 GMT

Quote: Originally posted by AnnuityIsGreat on January 17, 2003Thomas,When one takes annuity, the tax rate for your yearly winning flow is a lot lower than taking the lump sum. Trust me on this! 39.6% is not a maximum rate on everything you make. Lotto winnings and short term capital gain max out at 28% pending on your income level. Long term capital gain is less.Once you take lump sum, you immediatly have to pay all the taxes upfront.Think annuity as like your 401K or pension payouts... there

Reply #21

AnnuityIsGreat — Fri, 17 Jan 2003 15:10:17 GMT

ever hear of progressive tax rates Cash?even if they raise it a little higher, overall you would be paying a lot less tax than choosing lump sum today.Besides, the republicans are pushing for lower tax rates and they shall get that soon.

Reply #20

CASH Only — Fri, 17 Jan 2003 15:02:25 GMT

But, instead they may INCREASE over the next 20 years...they were much higher in the 1970s, weren't they

Reply #19

AnnuityIsGreat — Fri, 17 Jan 2003 14:58:01 GMT

That's right Cash... the tax rates can drop significantly over the next 20 years. So therefore, if you take Annuity, you would be paying a whole less of taxes to the government than paying the mandatory high rate if you chose lump sum today.

Reply #18

CASH Only — Fri, 17 Jan 2003 14:51:03 GMT

Andy: You don't know what the tax laws will be over the next 20+ years. Doesn't sound like you went to the doctor

Reply #17

AnnuityIsGreat — Fri, 17 Jan 2003 14:48:01 GMT

Thomas,When one takes annuity, the tax rate for your yearly winning flow is a lot lower than taking the lump sum. Trust me on this! 39.6% is not a maximum rate on everything you make. Lotto winnings and short term capital gain max out at 28% pending on your income level. Long term capital gain is less.Once you take lump sum, you immediatly have to pay all the taxes upfront.Think annuity as like your 401K or pension payouts... there are lots of tax benefits.

Reply #16

CASH Only — Fri, 17 Jan 2003 14:47:31 GMT

NY still requires Mega Millions players to choose WHEN they play; should they win, they CANNOT change their mind(s).

Reply #15

RJOh — Fri, 17 Jan 2003 14:42:14 GMT

Luckily only people who actually win the lottery will have to make that decision and with odds of 1:13 to135 millions most, if not all of us will never be so unlucky. That the upside of buying lottery tickets and never winning the jackpot.RJOh

Reply #14

Thomas Covenant — Fri, 17 Jan 2003 13:51:33 GMT

How can there be any tax advantage to taking an annuity? Right now the max tax rate is 39.6% for anything over approx $300,000.00 a year. Even if you take the annuity you would still be taxed at the highest tax rate. I will admit that if Bush's plan goes through, it will drop to 33%. But if the Democrates come into power the taxes might go up in a few years. If you took the cash option you could invest in all sorts of tax-free bonds, tax-deferred funds, charitable annuities etc to reduce your ta... [ More ]

Reply #13

AnnuityIsGreat — Fri, 17 Jan 2003 13:44:57 GMT

Again Cash Boy, your combacks are just simply .... AMAZING

Reply #12

CASH Only — Fri, 17 Jan 2003 13:43:20 GMT

Yes, I think your head needs to be examined.

Reply #11

AnnuityIsGreat — Fri, 17 Jan 2003 13:40:28 GMT

Like I said before, you don't have to play the games Cash Boy. And if you don't have to take the annuity payments if you ever won the scratch off games. You can always set up a trust so that your annual payments can go to worthy charities instead.Personally, if I were you, I'd take the money to have my head examined.

Reply #10

CASH Only — Fri, 17 Jan 2003 13:38:19 GMT

The NY Lottery (currently) forces winners of over $500,000 on its scratch games to receive annuity payments. Winners of Massachusetts' 6/42 and 6/49 games CANNOT choose lump sum either.

Reply #9

Bug — Fri, 17 Jan 2003 13:36:37 GMT

I doubt your a tax attorney. You haven't given any reason in any of your advice. A reason would have to do with any tax benefits and the guaranteed rate of return through a T bill, and not anything your peddling.

Reply #8

AnnuityIsGreat — Fri, 17 Jan 2003 13:35:33 GMT

Cash Boy,You do have the option of taking LumpSum. The lottery is not deciding for you. For those few games that might, then DON'T PLAY THEM!Another thing, if you don't like the way NY handles their lottery system, you don't have to stay in the state.

Reply #7

CASH Only — Fri, 17 Jan 2003 13:33:29 GMT

I am a legal adult. If I were to win the lottery, I want to make the cash/annuity decision myself. I don't want the lottery to make the choice for me. Let me take the LUMP SUM; then I'll decide (with or without help) how to invest my winnings.

Reply #6

AnnuityIsGreat — Fri, 17 Jan 2003 13:30:39 GMT

Cash Boy,Prove your point. Why are you such a proponent of Cash Only option. Are you one of those lottery winner stalkers like the ones stalking Jack Whittaker since he chose lump sum and his being harassed for money?Cash Boy, don't assume ...

Reply #5

CASH Only — Fri, 17 Jan 2003 13:24:29 GMT

You're the a$$. Not me.

Reply #4

AnnuityIsGreat — Fri, 17 Jan 2003 13:20:52 GMT

Cash Only,Take it easy man! Did I say all those things.. or are you just assuming. You know the phrase, if you assume, you make an ass out of you and me...Never assume...Take a chill pill Cash Boy...

Reply #3

CASH Only — Fri, 17 Jan 2003 13:16:59 GMT

Are you saying Mr Whittaker should have chosen annuity? Are you saying if my 83-year-old father were to win, he should take the annuity? Are you saying that if someone has HIV, they shouldn't go for the lump sum

Reply #2

AnnuityIsGreat — Fri, 17 Jan 2003 13:14:00 GMT

Hello there Cash Only. I don't make money off of lotto players' winnings. What I do is give sound and reasonable advice.Often, I see too many jackpot winners that go broke in a few years after choosing the lump sum option.There are huge tax benefits, not to mention a whole lot of other great things when choosing Annuity. If the Jackpot is > $20M, choosing annuity makes a whole lot of sense.-Andy

Reply #1

CASH Only — Fri, 17 Jan 2003 13:05:32 GMT

You are a shill for these companies that want to make money off of lottery players' winnings.

Hello My Fellow Lotto Players

AnnuityIsGreat — Fri, 17 Jan 2003 13:03:33 GMT

How are you all? I just want to introduce myself. My name is Andy. I'm so grateful I found this awesome website as I, myself is an avid lottery player.My day job is that I am a tax attorney and a venture capitalist. So, if you have any questions regarding any sorts of tax implications if or when you hit the big one , I'll be more than happy to give my advice.Choose Annuity - It just makes sense. If you want to know why, just ask.Think of it now - Steady great income for the next 26 - 30 yr... [ More ]