Money: Powerball Winner claims $310M, only $140M after taxes!
- Thread starter playahaitian
- Start date
-
- Tags
- lottery
She did the right thing. There is no guarantee that the lottery will always be solvent in the future. I can't trust anybody to pay me in the future. I will take the lump sum and trust me, I will never be broke and my family will be set up for several generations to come.
They changed that along time ago. The rest goes to who ever your beneficiary is
I'd probably cuss ppl out for 3 days straight
i'm taking a big stinking shit on my boss's desk first thing in the a.m.
by nightfall, i'm gon be at the bunny ranch stanking of pussy with a pound of viagra in my front pocket.
the next 3 weeks = stanking of pussy again, sweating profusely due to some high grade cocaine, and gambling like i'm losing my fucking mind.
then rehab.
then i'd prolly marry my girl.
Right
Don't get me wrong I'm taking the lump some as well
But man that's criminal
i actually had to do the calculation as part of a homework assignment back in school...
it's better to take the lump sum....because over those 20-25 years...each payment you receive is worth less and less..when you factor in inflation...
you take that money and find an investment making at least 5%..and you can probably find a better return than that..due to the amount of money you have to invest...
it takes a little discipline though...not to burn through it..and many winners wind up broke...
also best idea..is to put the money and any assets in a revocable trust...that you're the trustee of...so if someone tries to sue you...they can't touch any of the money..since technically it doesn't belong to you...
it's better to take the lump sum....because over those 20-25 years...each payment you receive is worth less and less..when you factor in inflation...
you take that money and find an investment making at least 5%..and you can probably find a better return than that..due to the amount of money you have to invest...
it takes a little discipline though...not to burn through it..and many winners wind up broke...
also best idea..is to put the money and any assets in a revocable trust...that you're the trustee of...so if someone tries to sue you...they can't touch any of the money..since technically it doesn't belong to you...
If you was to put $140mil into an investment firm, how much would the interest be on that?
Long term capital gains tax is only 10-15% assuming your holding the investments a year before you cash out...
Sent from my SAMSUNG-SM-G920A using Tapatalk
I would put that 140Mil in a nice investment fund and live off the interest.
I'd never work another day in my life and I would travel the world.
This is after I take care of family and close friends.
Curious,what about after you have been everywhere? Traveling can be tiring as fuck after a while. Especially if you can really do it as much as you want.
I'd take lump sum, then quit my job. I'd then spend my time investing a large portion of it in businesses that interest me that have a high probability of success.Personally, i'm into real estate, so i'd buy a large portion of West Oakland.With a buy and hold strategy, and paying all cash, i'd easily clear 15%. I'd then finance a boarding school for black children who test well on an easrly aptitude test.The school will be from Preschool to High school with the focus on leadership,social issues,black/african history,and have a rigorous curriculum based on the IB.I'd contribute to various politicians campaigns with the stipulation that they come and speak at my school.I'd also bring investors,and people from all different fields to speak and field questions from students. This will make success tangible for them.It would be a boarding school so it will be ensured that the kids are in a stable environment.I'd also donate $10/year to BGOL.
With that said.... I've been on BGOL long enough to know you cant take financial advice seriously on this.
With that said.... I've been on BGOL long enough to know you cant take financial advice seriously on this.
Im going into work on that monday like
When my family comes to see me I'm gonna be like
I'm gonna be at the bank making withdrawal's like
You mean 'she joked' not 'he joked'
But anyways, he could claim they had a common law marriage because that is a long time. Especially if they've been living together. She needs to be careful how she rubs it with this guy
I agree my brother.
lol@ the scrubs gif
I would accept the lump sum as well. I would make the money I lost in interest payments alone. I am so glad that Ohio is an "You can remain anonymous and accept the winnings in trust" state.
I'd wait at least 2 months to accept my winnings to get my things in order. Plus, what I could do with the money collected from interest. They would do the same thing I'm doing. Take whatever they aren't giving me and collect interest on it.
Nah, that's my money.
Now the REAL work begins. I'm buying franchises and more!
calling BGOL legal....
If you spend like a month or 2 at each destination you'll never run out of places to visit.Get a real feel of where you're traveling to instead of just being there for a week.3 weeks in Bora Bora and Maldives is a must.
Most states don't recognize common law marriage anymore. Especially with so many people co-habitating now it would be insane if it was in effect.
I'm getting my bread ASAP; you get hit by a bus; have a heart attack; that cash remains with the Lottery; I'm not taking any chances. I'm not even leaving my house until it's time to go to the lottery office to claim my prize.
Yep. Claiming my shot off top. As anonymous as I can get.
I got a solid 5 people I care about to help.
I'm disappearing. They can come if they choose
Sent from my SM-N900T using Tapatalk
True. Shit would suck but it's out of your control (heart attack... Somewhat).
However, I'd wait until my shit was together. Lawyer, financial advisor (hopefully one of these two has tax knowledge) on Deck. Assemble my team, such that when I have the lawyer anonymously collect my money, the transaction goes as smooth as possible. Debt paid, estate planning done (living trusts ftw), investments ready to go. Because the last thing I want to be is stressed about how I'm going to make my money work for me.
had a feeling...
I'm Co signing that anonymous!!!
We need more info on that.
I cannot understand why u have no choice in the matter.
Sent from my SM-G900V using Tapatalk
I can call my cousin Earl or Ralph on cue, no Karen Carpenter. Simply tense up my stomach and up comes chuck. I would call in late and eat a big ass breakfast, go into his office and straight call Earl on speed dial projectile style. I've only HAD to use it once in my life.
2001 I was working at Target and the manager, a woman, was a fucking bitch. She scheduled every man to work Super Bowl Sunday and scheduled every woman off. The only woman there was her and a couple of female supervisors.
If you called off for ANY reason you were fired.
Now that's some bullshit. I mean for real. She used her position to take some kind of revenge and there wasn't a damned thing any of use could do.
Now, if you tell the boss you are sick they say, "Go to the break room for 10 minutes - like that's going to make you feel better. So I planned my move.
It was 5PM, and the game started at 6:18. I called my brother and told him to come pick me up at 5:30.
"Leslie, I'm not feeling...
"She barely jumped out of the way because I was aiming for her shoes.
"Go HOME! Go! Get out of here."
I called my brother, but he was already enroute. I walked out holding my stomach until I got in the car and said, "Alright, man. Let's eat. I'm fucking starving.
I've only HAD to use it once in my life.
2001 I was working at Target and the manager, a woman, was a fucking bitch. She scheduled every man to work Super Bowl Sunday and scheduled every woman off. The only woman there was her and a couple of female supervisors.
If you called off for ANY reason you were fired.
Now that's some bullshit. I mean for real. She used her position to take some kind of revenge and there wasn't a damned thing any of use could do.
Now, if you tell the boss you are sick they say, "Go to the break room for 10 minutes - like that's going to make you feel better. So I planned my move.
It was 5PM, and the game started at 6:18. I called my brother and told him to come pick me up at 5:30.
"Leslie, I'm not feeling...
She barely jumped out of the way because I was aiming for her shoes.
"Go HOME! Go! Get out of here."
I called my brother, but he was already enroute. I walked out holding my stomach until I got in the car and said, "Alright, man. Let's eat. I'm fucking starving.
You need to film this and release this on youtube super bowl week. Seriously.
this^^^^
nah, u either are using the old law or using the wrong tax bracket. with her millions, she's 20% cap gains tax rate.If she puts the money in an investment acct the interest generated are subject to capital gains tax.
Capital gains tax are around 15% which is far less than her current tax rate.
This is why Warren Buffet said he pays less taxes than his secretary.
This is why I play $1 per $100 Million. That shit, as much as I would want it to happen, is extremely unlikely. And, with it being so unlikely, I'm not going to break myself to try. I see mofo's spending $250-500 when the jackpot gets big 
Not me. I get in with 2 co-workers and we drop $1 per 100 million. If we don't win we just bought burgers for lunch.
Not me. I get in with 2 co-workers and we drop $1 per 100 million. If we don't win we just bought burgers for lunch.