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Can MM & PB Start Being Honest? Must this farce continue?Reply
My point is either discontinue the annuity payments, or make the annuity payment equal to the cash payout. Make neither a higher option than the other. But if they are going to keep JP amounts different, at the very least quit posing the people who choose the lump sum payment with the total JP amount. At best it's disingenuous, and worst it's a grand lie. Either way, it isn't honest since that check doesn't represent the amount they are planning on giving that person. Other countries hav
Jun 18, 2013, 11:45 am - Teddi - Lottery Discussion Forum

Annuity or Lump Sum?Reply
Please note that I am talking about exemption from SS and Medicare taxes, not general income taxes where you have to pay either way If you take annuity, the lottery invested the money for you without having to pay medicare and SS taxes. You just need to wait x number of years to receive them all. If you choose the lump sum and you want to grow it so that it would match the money you would have received from annuity by investing on your own, you would have to pay SS and Medicare taxes
May 21, 2013, 6:41 pm - redhot7 - Lottery Discussion Forum

Can you see yourself selling your winning MM/PB ticket to JGWentworth etc?Reply
As far as I know, you have to have a structured settlement before dealing with them. Selling them an uncashed ticket wouldn't qualify and they wouldn't go for it. When they do buy these settlements it's for a dime on the dollar , if that. For all the arguments here on LP about taking the annuity and not cash i hate to think of how many jackpot winners tool the annuity and then sold it to one of these compnaies.
May 21, 2013, 5:40 pm - Coin Toss - Lottery Discussion Forum

Annuity or Lump Sum?Reply
I used to believe the ones bad with money who take the annuity do better if for no other reason they couldn't spend it all at once. But that isn't the case. They still manage to lose it all. They overextend themselves, end up having to take out loans against future payments, or worse still, they fall prey to those companies who buy future annuity payments for a lump sum cash payout which is bubkis and they spend it all. If a person is bad with money, they're always bad with money, regardless
May 17, 2013, 10:22 pm - Teddi - Lottery Discussion Forum

$190 MILLION: Mega Millions lottery jackpot rollsReply
LOL. Great minds think alike. Just reading this now and we're on the same page. If I were ever in charge of a lottery game which had really long odds, I would do away with the annuity. If the JP is $190M, $190M is what would be paid out. Minus taxes. But no annuity vs cash payout BS. They win the advertised JP in it's entirety right away. I think people would go for that and wouldn't pay so much attention to the fact that they would have a better chance of being raised from the dead
May 16, 2013, 7:11 pm - Teddi - Lottery News

$475 MILLION: Powerball jackpot nears a half-billion dollarsReply
ROFLMAO. I think it's cute you think they won't drive you insane if you take the annuity instead. I'm sure the reasoning will go something like: you can give me $X now. You're set for life and you'll get it back next year anyway. I've been always against the annuity. Mainly because I'm paranoid. But now...now I'm rethinking. A billion dollars will probably have a cash value of $600M give or take. That'll be $360M after taxes. I'm not sure I can fathom that amount all at once. NOT TH
May 16, 2013, 2:45 pm - Teddi - Lottery News

$475 MILLION: Powerball jackpot nears a half-billion dollarsReply
Note that this isn't actually the 3rd largest in the WORLD, because US lotteries lies about the amount... Seriously, I can offer you a TRILLION dollars, on a 100 trillion year-annuity 1 dollar/yr if you give me 100,000,000 now. Using the annuity value is complete BS. And they tax what's left... seriously... you'll get 182 million usd after everything, which is much less than the 195,000,000 euro EuroMillions.
May 16, 2013, 1:45 am - yoho - Lottery News

If you can choose to give up your winnings in exchange for being never hungry or homeless...Reply
LOL. Okay man that's cheating. The annuity will also be heavily taxed every year since the govt wants to tax the super rich and those with 1M+ annual income. You can only choose option 1/2. I will have to update my post to reflect the annuity option as well. Also it's no fun if people just take Option 3. Point of this post is to make you think about choosing between two very tough choices. I think I may go for Option 1. Also I want to add that any outstanding debt you have will be wi
May 15, 2013, 5:12 pm - ginmqi - Lottery Discussion Forum

So 26 to 30 years from now, where do you think current jackpot winners would be?
So if we tracked down all the jackpot winners from the current days and found them all 26 to 30 years into the future...where do you think they would be financially? Specifically, I'm interested in how people would fare since a vast majority of jackpot winners take the lump sum option versus the annuity option. Do you think they would have accumulated and spent enough money to beat the total annuity option? Or maybe the USA is in bankruptcy and cash is not nearly as useful as bullets/wat
May 13, 2013, 6:45 pm - ginmqi - Lottery Discussion Forum

Annuity or Lump Sum?Reply
u make more form lump sum, if u win just go to people who handle 100+ million in cash and how they invest they tell u to take the cash vs the annuity how is your issue, its easy to beat annuity
May 13, 2013, 6:15 pm - joshuacloak - Lottery Discussion Forum