Search

New Florida Lotto playslips a bother to someReply
Stack, I was thinking about that option too. I'll look at the site again, but I didn't think you could choose one payment or the other. I thought it was just annuity (30 year annual payments) or a lump sum. I'm pretty sure I'm right, but I've been mistaken once or twice in my life. LOL Once I thought I was wrong and I found out I wasn't, so that's being wrong, right? The jackpot reads: $13 million, $23 million, $28 million So to me that means you get the entire jackpot in whatever form you
Mar 14, 2008, 4:59 pm - justxploring - Lottery News

How do I determine the interest rate received on annual payments?Reply
*** It is my understanding that when taking the lump sum, jackpot winnings are taxed at a 25% rate with no state tax (in California). I am not sure how that changes the math. The end result I was looking for was determing what rate I would have to earn to match the rate that they were getting on their annuity. You state 10%. Getting a 10% return would seem to involve a lot of risk. It seems taking the annual payments is better which contradicts my initial thoughts and the thougths of most pe
Mar 8, 2008, 2:02 pm - JWBlue - Lottery Discussion Forum

-No Explanation-Reply
In retrospect I could say had I bought and held $10,000 worth of Wal Mart stock 30 years ago it would now be worth $3 million. I could have sold the stock when it was worth $20,000 and spent the profits on toys or bought other less valuable stock. Just because we know the results many years later doesn't mean that's how we would have acted. They didn't have $200 million jackpots 30 years ago so we don't know if somebody had taken the cash, they would have made more than the annuity. All these
Mar 6, 2008, 8:06 pm - Stack47 - Lottery Discussion Forum

-Mediocrity Winners-Reply
Uff Da! I recently said on a thread about cash vs annuity that I have no desire to turn my millions into billions if I ever win a jackpot. By the way, a former manager had a heart attack when we worked for a General Manager who was extremely difficult. He had never suffered from a heart condition before, but one day was extremely bad, and the GM was screaming his head off at everyone, especially him. The next morning, the store manager got out of bed and had a heart attack in the s
Mar 5, 2008, 12:27 pm - justxploring - Lottery Discussion Forum

List of States Which Allow Anonymous WinnersReply
Hey Lucky Lilly, As promised I called the lottery headquaters this morning. I spoke with a rep who confirmed it with her superviser. YES you can claim your prize anonymously. All they are required to give is the name of the city and the amount. NOT only that, you can also claim it as a corporation or a trust if you like. And for the CA folks who are currently playing the California Millionaire scratcher. The $1 million amount is in a lump sum. It is not a $50,000 annual annuity.
Mar 5, 2008, 11:31 am - lottocalgal - Lottery Discussion Forum

JackpotReply
The advertised annuity is what they would return should the Lottery invest the money and pay it out over the time period. The cash option is what is on hand at the time of the drawing. People like to think that they can do better investing it themselves, and that's possible. But what the Lottery does is guaranteed. They take the cash amount and invest it in Treasury Bonds. That's how they determine what the jackpot will be - what the return is on the purchased bonds. You might have noticed t
Mar 4, 2008, 11:15 am - Captain Lotto - Lottery Discussion Forum

Who really need money?Reply
Well Wantmoney, It seems that I may be the only person that PARTIALLY agrees with you. Let me began by saying that it depends on your idea of young people. But I will say- it seems to me that people who win the lottery are mostly at the senior level. I know that they need money as well. But I have seen 83, 69, 72 years olds win the lottery. Not to say that they can't use the money, but let's face it ( and I know i'm going to catch hell on this one) It is obvious that they won't be taking a
Feb 29, 2008, 10:10 am - lottocalgal - Lottery Discussion Forum

Went public too soon?Reply
IMHO, the lotteries should allow winners to make their claim, but delay the public announcement for a reasonable period pf time. The IRS allows 60 days to make the cash or annuity decision, so that seems like a reasonable period to delay the fanfare, and actual payment. Lacking that, it isn't that hard to safeguard the ticket without running straight to the lottery office. Sign it, document the hell out of it, and put it in a safe deposit box (witht he documentation kept in a box at a differe
Feb 26, 2008, 1:16 pm - KY Floyd - Lottery Discussion Forum

South Georgia couple wins $270M Mega Millions lottery jackpotReply
The jackpot was $164 so their only choice was if they wanted the lottery to buy them a 26 year $270 million annuity. How do you know they won't parlay what they get after taxes into $500 million? If they were smart, they would get a financial advisor now. Unless they are planning on turning all of it into cash and stuffing their mattresses, they will get plenty of financial advice. I wonder what kind of advice a financial advisor would give them before spending the 2 bucks to play their
Feb 25, 2008, 10:02 am - Stack47 - Lottery News

Florida's New Addition to its LottoReply
Good question. I just found out that it's an annuity paid over 30 years. However, they probably offer it as a lump sum too. I am assuming if, for example, you win a $6 million jackpot and opt for the extra $10 million, you will win $16 million over 30 years or about $8.5 million cash before tax. Still, I'm not going to add another dollar, but it would certainly be a nice bonus when the jackpot is very low, since it starts at $3 million. However, that will have to be enough for me since I can'
Feb 23, 2008, 3:00 am - justxploring - Jackpot Games Forum