you can take all the money and still setup boundaries for yourself with out them fuck outta here with these niggaz talking about take it in lump sums
Money: NY Times says Powerball Winner Take Our Advice & Take the Annuity
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PR is a commonwealth of the United States, they too take part in the Mega Millions jackpot..
You need to brush up on your civics and geography bruh
If I was 18 you still giving me all my shit.
just got my ticket baby
take the money
when the government finances start looking shaky them aint interested in paying you your bread
get your fucking money and set up your own annuity.....fuck outta here with this handholding shit
when the government finances start looking shaky them aint interested in paying you your bread
get your fucking money and set up your own annuity.....fuck outta here with this handholding shit
Yes Sir two different cards.
can your annuity go to your estate or to your descendants?
22 million over 30 years? If I hypothetically took $300 million and invested it with a 5% annual return, I'll make roughly 20 mil per year, anyway.
Fuck they talking 'bout? Gimmie my shit!
yes but it is subject to the estate tax.
yeah the government tries to rob everyone with all of their "cuts"...taxing money already taxed....
yeah the government tries to rob everyone with all of their "cuts"...taxing money already taxed....
they aren't taxing the same person twice, if you inherit money you will pay taxes on it. If they didn't it would be one of the biggest tax breaks for rich then y'all would be complaining that it's not fair. You could put your money in a trust to avoid estate taxes but the but trust distributions will be taxed as well
yeah the government tries to rob everyone with all of their "cuts"...taxing money already taxed....
its explained in detail in another powerball thread.
You .......(first 3 letters).......ASSume
sure buddy
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If you won the lottery, would you choose the annuity for 20 years or the lump sum instantly?
I would create a trust prior to claiming the money and if my state allows,the trust would be the winner. In some circumstances, a trust may protect the money from lawsuits. The more money you have to invest, the more your winnings will earn. A lump sum payment reduces your payout by between 25 to 30 percent. So let's assume you win 100 million, and take a lump sum payment of 70 million. Figure to spend 50% in taxes, and you are left with 35 million. So, take 10% to spend, that’s 3.5 million. Buy a house, clothes, car, whatever. That leaves 31.5 million to invest. At 5% interest that is 1.575 million the first year. Now have the trust pay you an annual annuity of let's say 500K. You reinvest the rest; so added to the original 31.5 million you now have 32.575 million. The next year you’ve earned 5% again, 1.628 million. Again you pay yourself a 500k annuity and reinvest the rest. Now you have $33,703,750. You’re living luxuriously on $500,000 a year and your winnings continue to grow. In 20 years you may have doubled your original investment of 31.5 million.
@4 Dimensional is this math right?
I would create a trust prior to claiming the money and if my state allows,the trust would be the winner. In some circumstances, a trust may protect the money from lawsuits. The more money you have to invest, the more your winnings will earn. A lump sum payment reduces your payout by between 25 to 30 percent. So let's assume you win 100 million, and take a lump sum payment of 70 million. Figure to spend 50% in taxes, and you are left with 35 million. So, take 10% to spend, that’s 3.5 million. Buy a house, clothes, car, whatever. That leaves 31.5 million to invest. At 5% interest that is 1.575 million the first year. Now have the trust pay you an annual annuity of let's say 500K. You reinvest the rest; so added to the original 31.5 million you now have 32.575 million. The next year you’ve earned 5% again, 1.628 million. Again you pay yourself a 500k annuity and reinvest the rest. Now you have $33,703,750. You’re living luxuriously on $500,000 a year and your winnings continue to grow. In 20 years you may have doubled your original investment of 31.5 million.
@4 Dimensional is this math right?
If you won the lottery, would you choose the annuity for 20 years or the lump sum instantly?
I would create a trust prior to claiming the money and if my state allows,the trust would be the winner. In some circumstances, a trust may protect the money from lawsuits. The more money you have to invest, the more your winnings will earn. A lump sum payment reduces your payout by between 25 to 30 percent. So let's assume you win 100 million, and take a lump sum payment of 70 million. Figure to spend 50% in taxes, and you are left with 35 million. So, take 10% to spend, that’s 3.5 million. Buy a house, clothes, car, whatever. That leaves 31.5 million to invest. At 5% interest that is 1.575 million the first year. Now have the trust pay you an annual annuity of let's say 500K. You reinvest the rest; so added to the original 31.5 million you now have 32.575 million. The next year you’ve earned 5% again, 1.628 million. Again you pay yourself a 500k annuity and reinvest the rest. Now you have $33,703,750. You’re living luxuriously on $500,000 a year and your winnings continue to grow. In 20 years you may have doubled your original investment of 31.5 million.
@4 Dimensional is this math right?
Sounds good in theory. But I’m not sure how any of the works honestly.
One thing is true, you have to invest or other wise your money will continuously decrease without getting something back.
What type of house would a person get? Property tax and maintenance may whoop ass if not careful.
But what savings account is giving 5% interest a year? Also, that the assumption that the person can truly live off of 500k a year other wise, they’ll bite into their savings reducing the amount they could earn from interest.
I’d take the lump sum and immediately pay all my debt off. I’d find a high interest savings account and put in there until I figure out my next move.
But you have to invest in something.
I ALWAYS hear this dropped whenever talking about investments and I have NEVER heard a proper response.
^^^
WE were just having a the ETERNAL lump sum vs annuity argument in the group chat.
I STILL don't think their is a definitive answer
I THINK lump sum, financial advisor, lawyer and trust is probably the answer if the amount is in the 7 or 8 figures.
I think that’s what gets people that wins the lotto or some large settlement and lose it shortly.
It’s never about the ability to obtain something, but more so, maintaining what you got.
Folk underestimates the needle pricks that adds up to stab wounds from a knife. That’s tax season for many people every year.
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