I wouldn't give a single dollar to a charity or school. Anything that they need, I would buy it. I don't trust people with my money because people are not trustworthy with money
Money: Mark Cuban advice for whoever wins the $1.4 billion Powerball lottery
- Thread starter playahaitian
- Start date
It's like walking dead fam...
They will get in, the don't stop can't stop and won't till they get what they want.
As someone who worked in not for profits...I understand.
But trust if u don't personally see the stuff change hand? Nothing is guranteed.
On the annuity payment, Powerball withholds 25% of the fed taxes on your behalf but you would be responsible for the difference (top fed tax rate is currently 39.5% so you'd still owe 14.5% + any state and local taxes depending on where you live.)
If you want to give to charity, look here first to see their operating and administrative costs.
http://www.charitynavigator.org/
Most charities operate at 95% admin costs and 5% goes to the actual cause. So research them and make sure you ain't paying for for a private jet flight for Lindsay Lohan (Wyclef - Yele)
http://www.charitynavigator.org/
Most charities operate at 95% admin costs and 5% goes to the actual cause. So research them and make sure you ain't paying for for a private jet flight for Lindsay Lohan (Wyclef - Yele)
Nawl, that ain't what I'm saying....
Just plan it out. It ain't got to be impulsive. Plan your work & work your plan.
People that get what they want out of life don't just get it by chance, they work at it.
Be disciplined enough to hold a job and work just as hard at your passion when you're off work, eventually the money will add up to enough for you to quit.
Yeah, I know you over there like "FOH, nigga I just wanna do my 8 & smoke on the way home."
You work hard enough, long enough, and you'll be able to CHOOSE your opportunities. IJS
Don't say that, youngblood. You got plenty years left.
Damn shame, but the butt neked truth
true, with proper medication you can live a normal life like Magic.
So, as long as the business or foundation is based in Panama but operates abroad then it pays no taxes??
@bermyshotta you see this shit, mane?
We gotta make some moves
I did some work with non-profits back in the day. We were local, but damn the effort really helped the community. I'd invest locally because there is much more transparency. Create small non-profits in different areas and keep them small. Sounds funny, but it can have a definite effect. Can't fuck over the books that much with fuzzy math.
I'd be much more hands on with charity if I won. Vet everything myself. Shit, no need to work with that much bread. I'd definitely help a lot of people.
fuck that
I would be taking the lump sum
I would be taking the lump sum
im not giving to any charity I will be the charity. Sign off on checks for supplies and everything down to the pencil there would be no skimming off the top or bottom of any of my money period.
LOL
Starting a Business in Panama
Information on starting and running a foreign company in Panama…
In Panama it is possible to start a corporation which operates outside of the country without having to pay Panamanian taxes on the business. Because of this the Panama is home to many corporations and is a hub for worldwide business.
http://panama.angloinfo.com/working/starting-a-business/
Just google it
and
Exemption from all Panamanian taxes for income generated outside of Panama
https://www.apintertrust.com/offshore_company/panama_foundation.htm
Salute...my experience big or small personal involvement and transparency is key.
Haha we all talking like we got a chance. It's fun though.
His advice is for cats that are in debt with good jobs and spend more than you make. If you bad with money, take his advice.
If you are borderline to financially savvy, take the lump sum. Money now is worth more when invested properly, you don't know the tax rates of the future, there's inflation, and the risk the lotto goes broke. If you have the right people, you could get a share of a pro team, start a school, movie studio. Do your passion. Money gives you the ability to do what you want so it isn't happiness itself but it creates an atmosphere for it when you are done with the toys(cars, yachts, etc) you can work on what drives you. Buying a jag but still working the same 9 to 5 job is a lot different than having enough money to never work again
His advice is for cats that are in debt with good jobs and spend more than you make. If you bad with money, take his advice.
If you are borderline to financially savvy, take the lump sum. Money now is worth more when invested properly, you don't know the tax rates of the future, there's inflation, and the risk the lotto goes broke. If you have the right people, you could get a share of a pro team, start a school, movie studio. Do your passion. Money gives you the ability to do what you want so it isn't happiness itself but it creates an atmosphere for it when you are done with the toys(cars, yachts, etc) you can work on what drives you. Buying a jag but still working the same 9 to 5 job is a lot different than having enough money to never work again
Much respect to Mark Cuban (and I just got into an argument with my Wife about this), but I disagree. Guess i'm an idiot. If I won that money and my take home was 500million, I'd honestly give 20 million to friends and family. I already have my list. Keep 20 million in the bank for me and wifey. Put 10 million in the bank for my daughter. That's 50 million. The rest? Donate to charity and community.
Wifey is like that's our money. I'm like, no, it's not.
Who needs 450 million dollars? I'm cool with 20 million in the bank and my child has a secured future. My beloved friends and family are taken care of.
The rest of that cash doesn't even matter. I know one thing, there'd be a LOT less poor people in the ghetto around me. I wouldn't even put it in scholarships. I'd probably build educational centers in poor areas, put some of the thugs and criminals to work to allow then an opportunity to flex their business skills. Create modern vocational schools for programming/coding and other useful tools, and allow people to do for self. College is no damn guarantee.
Wife didn't like it, but screw it. I'd die happy knowing that's what I did with that money.
Wifey is like that's our money. I'm like, no, it's not.
Who needs 450 million dollars? I'm cool with 20 million in the bank and my child has a secured future. My beloved friends and family are taken care of.
The rest of that cash doesn't even matter. I know one thing, there'd be a LOT less poor people in the ghetto around me. I wouldn't even put it in scholarships. I'd probably build educational centers in poor areas, put some of the thugs and criminals to work to allow then an opportunity to flex their business skills. Create modern vocational schools for programming/coding and other useful tools, and allow people to do for self. College is no damn guarantee.
Wife didn't like it, but screw it. I'd die happy knowing that's what I did with that money.
See you are truly investing in OUR future and I commend you for that.
your actually trying to SOLVE the problem by establishing a strong foundation that will potentially help GENERATIONS.
But I think you might want to do a little more for yourself money wise to insure your great grandchildren's future to.
Because she is right an undertaking like that is not to be taken lightly, you be beset at all sides inside and outside with evil.
Make sure to WELL secure yourself...a little more than 50 million worth.
That money go FAST fam.
real.
Yea, I went to Panama last year and was amazed that their downtown is like 10x the size of ATL's.
You get more money in the long run if you take the annuity, but it has nothing to do with the amount of taxes you'd pay. Whether it is 40 mil year or 1.5 bil, you'd be in the highest tax bracket (which is close to 40% for federal income tax, then each state varies). For the average person under 45 or so, it would likely be more lucrative to take the annuity. But everyone has his/her reasons why they would or wouldn't see that as a good idea. But doing the simple "how can I get the most money" math, it's good advice.
A jackpot-rigging scandal is forgotten as Powerball fever sweeps the United States
https://www.washingtonpost.com/news...-million-jackpot-rigged-by-a-former-employee/
https://www.washingtonpost.com/news...-million-jackpot-rigged-by-a-former-employee/
nigga shut up
crazy
i know
ONLY Charity that will get money from me !
They took VERY good care of us while the baby was in Vegas & Phoenix Hospitals
I hear good about them. With me its orphanages. I volunteered at one during senior year of high school. Reminds me of of whats really important. Soup kitchens, food banks. Stuff "prizes" in random products just for the heck of it.
Exactly
After seeing the final numbers on the annuity, I'm jumping to Team Lump Sum.
I would've did the annuity if it DECREASED by 5% every year and got the big checks in the beginning.
I would've did the annuity if it DECREASED by 5% every year and got the big checks in the beginning.