Ohio woman wins $15M jackpot but will take home just $4.5M after taxes — did she throw money down the drain?

[BigDaddyBuk]

Oof.

Let me do it like this:

If that lady takes the payout and lives another 30 years, she has to limit herself to spending less than $150,000 per year to make it last.

If she takes the annuity after the highest taxes she will have $330,000 or so per year.

Its far easier to save money when your income allows you to live comfortably while not breaking the bank.

 

[Madrox]

You cool with losing 5 million?

I don't think I would look at it that way.. unless of course I squandered the 4.5 milli.
Then again who's to say I would live long enough to see or enjoy 25 years of payments?

End of the day, I can see benefits to both approaches depending on what a person's life and goals may be at that point in time.

 

[D24OHA]

Is should be common knowledge to seek an accountant before claiming the money. They even tell you to do so on the lottery website

And yet when people can claim with a trust or representative....... you see them there, picture and info public and most lottery winners are broke within 10 years..... so obviously most aren't following that advice

 

[Hey Julian!]

First of all when did a lump sum option mean only half the winnings before taxes? That's not the IRS, that the greedy ass lottery commission. Fed tax as stated is 24% of the winning and throw in state taxes, then you have she should have minimum of half in her pocket. Fuck them Ohio crooks.

 

[TEN]

 

[Star]

Bgol accountants>>>>>

I tried to explain this here a few years ago. Personal tax = 35% Corporate tax = 21%
Contact Northen Trust -or- JP Morgan Private Bank - or something like that BEFORE you goto the Lotto office
They will setup a Trust to put the money in. That will save you 14% tax on the first day. Whatever you buy will belong to the trust, your home your car. Rich people to not have things in their name. You should be able to live on at least 3% interest per year. If you are this woman that would be 150k after Tax. Not just today but 30 years later. The equivalence of 30 years later which could be 600k per year. This is called generational wealth. Done correctly will last 600 years.

Unless You are stupid and have no control.. ALWAYS take the cash payout so you have money CONTROL forever OR get used to a yearly check that will stop coming. OR you can always call https://www.jgwentworth.com/

The cash payout is what they would give Goldman Saks to set up an Annuity to pay you for 20 years
Lotto payouts
National - https://www.lotterypost.com/results/az
California - https://www.calotteryx.com/Super-Lotto/prize-analysis.htm

 

[DC_Dude]

 

[lazarus]

you take the annuity...

that chick like most lottery winners will be broke in 5 years

$600 k for 25 years would set her family up forever

if you are a poor investor. taxes are just going to increase and your money wont be working for you the same way.

 

[Madrox]

Unless You are stupid and have no control.. ALWAYS take the cash payout so you have money CONTROL forever OR get used to a yearly check that will stop coming. OR you can always call https://www.jgwentworth.com/

 

[RoomService]

Bgol accountants>>>>>

I tried to explain this here a few years ago. Personal tax = 35% Corporate tax = 21%
Contact Northen Trust -or- JP Morgan Private Bank - or something like that BEFORE you goto the Lotto office
They will setup a Trust to put the money in. That will save you 14% tax on the first day. Whatever you buy will belong to the trust, your home your car. Rich people to not have things in their name. You should be able to live on at least 3% interest per year. If you are this woman that would be 150k after Tax. Not just today but 30 years later. The equivalence of 30 years later which could be 600k per year. This is called generational wealth. Done correctly will last 600 years.

Unless You are stupid and have no control.. ALWAYS take the cash payout so you have money CONTROL forever OR get used to a yearly check that will stop coming. OR you can always call https://www.jgwentworth.com/

The cash payout is what they would give Goldman Saks to set up an Annuity to pay you for 20 years
Lotto payouts
National - https://www.lotterypost.com/results/az
California - https://www.calotteryx.com/Super-Lotto/prize-analysis.htm

And for the mid eight figure winners, you need to set up one of these.

What Is a Family Office? For the 8 figure BGOL Members only.

What Is a Family Office? A family office is a private wealth managementadvisory firm that serves ultra-high-net-worth individuals (HNWI). Family offices are different from traditional wealth management shops in that they offer a total solution to managing the financial and investment needs of...

www.bgol.us

 

[tallblacknyc]

Casino mafia wasn’t gonna let that nig walk out with their money… they gave him a celebration shot of liquor

 

[KunningLinguist]

if you are a poor investor. taxes are just going to increase and your money wont be working for you the same way.

bruh....people who are great investors DONT generally play the lottery....i would think they wouldnt have to

its usually working and poor people that play the lottery

 

[Chiyo]

Taxes always destroy a lump sum, so when its(take home) is below 4 or so mil I would take the annuity.

 

[ballscout1]

Lottery Annuity After Death. If a lottery winner who has opted for an annuity payout passes away, the remaining payments typically go to their estate and subsequently to any heirs or beneficiaries. This process is governed by the annuity contract's specific terms and any legal will the deceased person has left.

If I'm young and my kids are young then I would do the annuity but if my kids are adults I am taking the payout.

Fuck if I am going o have a bunch f grown mofokrs sitting around hoping for a come-up waiting for me to die.

 

[BLACKLOOP]

She didn’t have 4.5 million dollars to begin with. Man let the gov take all all their taxes and go live decent somewhere in an Ohio surburb