CC33

Would you like to react to this message? Create an account in a few clicks or log in to continue.

CC33


+6
RedBedroom
Forgiveness Man
Tony Marino
Nystyle709
CeCe
Supernova
10 posters

    If you won the lottery...

    Supernova
    Supernova
    The Book Chamber
    The Book Chamber


    Female
    Join date : 2010-06-22
    Posts : 11954
    Rep : 182

    If you won the lottery... Empty If you won the lottery...

    Post by Supernova Sat Oct 02, 2010 9:58 pm

    If you won a big lottery like the Powerball or the Megaball or whatever...how would you collect the money? There are 2 ways to collect it for those who don't know, the annuity payout which is you get so much money a year for 30 years and you get close to the whole jackpot amount. OR, you can take one large lump sum of cash which will only be about half of what the jackpot is worth.

    I would NOT wait 30 years to collect the last of it, I would take the half of it up front. How about everyone else?
    CeCe
    CeCe
    …is a Chamber DEITY.
    …is a Chamber DEITY.


    Join date : 2010-06-30
    Posts : 11962
    Rep : 326

    If you won the lottery... Empty Re: If you won the lottery...

    Post by CeCe Sat Oct 02, 2010 11:39 pm

    Easy. Lump sum. I want to be able to enjoy it & do the things I want done with it rather than a bunch of relatives I could never stand in life crawling out from under every rock trying to grab their "entitled" piece after I'm gone.
    Nystyle709
    Nystyle709
    ...is a 20G Chamber DIETY.
    ...is a 20G Chamber DIETY.


    Female
    Join date : 2010-03-16
    Location : New York
    Posts : 27030
    Rep : 339

    If you won the lottery... Empty Re: If you won the lottery...

    Post by Nystyle709 Sun Oct 03, 2010 3:31 am

    Take the annuity. Unless you're over 40 or 50.....taking the lump sum is ridiculous. With annuity, if you win a 100 million dollar jackpot, they will pay you every penny of that 100 million in 26 yrs. If you take a lump sum....you only get about 40 million dollars because they're taxing that shit to death. Not saying that's anything to sneeze at, but the lottery is already damn near impossible to win, why let the government keep all that money? You won it. Fuck that, I ain't kicking the bucket no time soon......I'm taking the annuity. They're going to pay me every dime of my winnings.
    Tony Marino
    Tony Marino
    …is a Global Moderator.
    …is a Global Moderator.


    Male
    Join date : 2010-01-31
    Location : New York
    Posts : 26786
    Rep : 607

    If you won the lottery... Empty Re: If you won the lottery...

    Post by Tony Marino Sun Oct 03, 2010 9:13 am

    I would take the whole lump sum, I could be dead before 30 years is up.
    Forgiveness Man
    Forgiveness Man
    …is a Chamber Royal.
    …is a Chamber Royal.


    Male
    Join date : 2010-06-25
    Location : Chilling on your sofa
    Posts : 6657
    Rep : 153

    If you won the lottery... Empty Re: If you won the lottery...

    Post by Forgiveness Man Sun Oct 03, 2010 9:33 am

    Probably lump sum so I can invest it and put it to good use now.
    Supernova
    Supernova
    The Book Chamber
    The Book Chamber


    Female
    Join date : 2010-06-22
    Posts : 11954
    Rep : 182

    If you won the lottery... Empty Re: If you won the lottery...

    Post by Supernova Sun Oct 03, 2010 10:11 am

    Nystyle709 wrote:Take the annuity. Unless you're over 40 or 50.....taking the lump sum is ridiculous. With annuity, if you win a 100 million dollar jackpot, they will pay you every penny of that 100 million in 26 yrs. If you take a lump sum....you only get about 40 million dollars because they're taxing that shit to death. Not saying that's anything to sneeze at, but the lottery is already damn near impossible to win, why let the government keep all that money? You won it. Fuck that, I ain't kicking the bucket no time soon......I'm taking the annuity. They're going to pay me every dime of my winnings.


    Except there's always a possibility something will go wrong and your payoff will be cut off long before the 30 year mark and you'd only come away with maybe a few hundred thousand, or maybe a couple of million. I'd rather take the lesser half, and have it all at once so I can effectively plan out what to do with it all KNOWING I have the actual amount to use for the rest of my life.
    Nystyle709
    Nystyle709
    ...is a 20G Chamber DIETY.
    ...is a 20G Chamber DIETY.


    Female
    Join date : 2010-03-16
    Location : New York
    Posts : 27030
    Rep : 339

    If you won the lottery... Empty Re: If you won the lottery...

    Post by Nystyle709 Sun Oct 03, 2010 10:39 am

    Supernova wrote:


    Except there's always a possibility something will go wrong and your payoff will be cut off long before the 30 year mark and you'd only come away with maybe a few hundred thousand, or maybe a couple of million. I'd rather take the lesser half, and have it all at once so I can effectively plan out what to do with it all KNOWING I have the actual amount to use for the rest of my life.

    So what? You scared of dying before you receive all of the money? The money gets paid to your estate. Get a good lawyer and draw up an iron clad will. If you won 100 mil......they're going to automatically cut you a check for what, about 4 million? I can do A LOT with that, right now. I ain't greedy. It's damn sure more than what I had. That's the amount you're going to be getting EVERY year for the next 26 years (guaranteed check).....whereas you're only take the lump sum and you're going to be getting 40 mil only one time. Then have that taxed to death. Nah. That's ludicrous. What are the chances of something happening to you anyway? And if you were to die the next day, then hey.....you still died millionaire. I refuse to let them keep all that money, especially when it's damn near impossible to win and they make way more money off of what they're paying out.
    RedBedroom
    RedBedroom
    …is a Chamber DEITY.
    …is a Chamber DEITY.


    Female
    Join date : 2010-02-18
    Posts : 10696
    Rep : 312

    If you won the lottery... Empty Re: If you won the lottery...

    Post by RedBedroom Sun Oct 03, 2010 5:35 pm

    I would take it in installments.
    Jason B.
    Jason B.
    …is a Power Member.
    …is a Power Member.


    Male
    Join date : 2010-02-11
    Posts : 2967
    Rep : 70

    If you won the lottery... Empty Re: If you won the lottery...

    Post by Jason B. Sun Oct 03, 2010 7:37 pm

    Nystyle709 wrote:Take the annuity. Unless you're over 40 or 50.....taking the lump sum is ridiculous. With annuity, if you win a 100 million dollar jackpot, they will pay you every penny of that 100 million in 26 yrs. If you take a lump sum....you only get about 40 million dollars because they're taxing that shit to death. Not saying that's anything to sneeze at, but the lottery is already damn near impossible to win, why let the government keep all that money? You won it. Fuck that, I ain't kicking the bucket no time soon......I'm taking the annuity. They're going to pay me every dime of my winnings.

    I would have answered lump sum, but since you put it that way, then maybe annuity. Fuck being taxed, I want every cent of what I won. But then it would depend on how much I'd be getting in the annuity. If they're rationing it off like social security and I still have to keep my job to make sure ends still meet, then I'd think twice.
    RobbieFTW
    RobbieFTW
    …is Being Fitted For a Crown.
    …is Being Fitted For a Crown.


    Male
    Join date : 2010-01-31
    Location : Dearborn
    Posts : 4152
    Rep : 145

    If you won the lottery... Empty Re: If you won the lottery...

    Post by RobbieFTW Sun Oct 03, 2010 9:29 pm

    It depends on how much the total jackpot was. If they can give me enough $$$$ per/year to not have to ever work again and live comfortably like JB said, then I'd take the annuity. But if it's only a couple hundred thousand a year then I'd take the lump sum.
    Supernova
    Supernova
    The Book Chamber
    The Book Chamber


    Female
    Join date : 2010-06-22
    Posts : 11954
    Rep : 182

    If you won the lottery... Empty Re: If you won the lottery...

    Post by Supernova Sun Oct 03, 2010 10:43 pm

    It's like there was this story a while back, this couple won the lottery, and couldn't decide whether to get 67 million dollars up front, or collect for 30 years to get 76 million. I'd say screw that, get the 67 million up front, that's more than enough for my lifetime already.
    GrayWolf
    GrayWolf
    …is Authorized.
    …is Authorized.


    Male
    Join date : 2010-09-03
    Location : Lakewood, OH
    Posts : 881
    Rep : 36

    If you won the lottery... Empty Re: If you won the lottery...

    Post by GrayWolf Mon Oct 04, 2010 12:03 am

    Speaking of lotteries, I heard that the newest Powerball is gonna be $200 mil. I'm gonna go ahead and play that one and if I win I will be taking the lump sum. Won't be happy about not getting the whole thing, but I'll make due with $100 mil.
    Supernova
    Supernova
    The Book Chamber
    The Book Chamber


    Female
    Join date : 2010-06-22
    Posts : 11954
    Rep : 182

    If you won the lottery... Empty Re: If you won the lottery...

    Post by Supernova Mon Oct 04, 2010 12:27 am

    Yeah, I think we can agree that if 100 million isn't enough to live on for the rest of your days, there's a problem.
    Marc™
    Marc™
    …is a Chamber DEITY.
    …is a Chamber DEITY.


    Male
    Join date : 2010-01-30
    Location : Michigan
    Posts : 12006
    Rep : 212

    If you won the lottery... Empty Re: If you won the lottery...

    Post by Marc™ Mon Oct 04, 2010 8:27 am

    GrayWolf wrote:Speaking of lotteries, I heard that the newest Powerball is gonna be $200 mil. I'm gonna go ahead and play that one and if I win I will be taking the lump sum. Won't be happy about not getting the whole thing, but I'll make due with $100 mil.

    Doesn't it come out this Wednesday? I might play that to....

    Sponsored content


    If you won the lottery... Empty Re: If you won the lottery...

    Post by Sponsored content


      Current date/time is Thu Nov 14, 2024 6:42 am