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Topic:
site breaks down how much you'd get net out of 540 million lottery win for each state [Locked] |
Cao_Ren  Title: Archmaster
Posts: 157
Registered: 2001-7-13 18:33:35
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Date Posted:
1/1/00 12:01am
Subject:
site breaks down how much you'd get net out of 540 million lottery win for each state |
HeartView posted:
Cao_Ren posted:
Also, if comparing apples to apples, investing everything either way (the full 279 million vs the 15 million annuity), at 5% and 26 years:
lump: 1041.63 million
annuity: 876.04 million
But the vast majority of people would not stop at spending the $79 million you would choose to spend. Most would finish that off and go back for more. If you are capable of that level of self control then great for you. But history has proven over and over again that the vast majority of people that come into sudden wealth do not know how to handle it and lose it quickly.
I didn't say what people should do. I said what I'd do.
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Date Posted:
1/1/00 12:01am
Subject:
site breaks down how much you'd get net out of 540 million lottery win for each state |
Id be happy with 10% of one annuity payment.
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HeartView  Title: Be right back...
Posts: 1,209
Registered: 2001-12-20 08:11:56
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Date Posted:
1/1/00 12:01am
Subject:
site breaks down how much you'd get net out of 540 million lottery win for each state |
Cao_Ren posted:
HeartView posted:
I'm not missing the point. Most people couldn't handle suddenly having $10 million let alone $500 million. Personally, after the first $5 million I'd have to get creative on how to spend it or save it. The thought of piling up money just to make more money does not appeal to me at all. In 30 years are you really going to care if your fortunes are at $500 million or $600 million? Will it really matter?
Your original argument was about a concern of losing $100 million. Now you're recanting? 
HeartView posted:
You'd
be starting out over $100 million behind from the payment method. Are
you going to make that back over 26 years considering you could still
invest your yearly payments and get the same interest/dividends?
I recant nothing. Assuming you can do what you say, you are far from normal in regards to sudden wealth. The safety net of getting the annual payment is a far better bet for most people.
Also, not everyone will manage to invest that much money and get back a sustained rate above 5%. Some investments will take many years to get back what you put in and be a loss (from a liquidity standpoint) until then.
Ideally, I would not argue that the lump sum will make you more in the long run, I just doubt most people are up to the task to see that through.
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Motar98  Title: cool guy
Posts: 363
Registered: 2003-1-4 17:18:32
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Date Posted:
1/1/00 12:01am
Subject:
site breaks down how much you'd get net out of 540 million lottery win for each state |
would seem like you could get a lump sum from a bank or something and get a lot more than you would from the lottery
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Jade_Shyn |
notmforce2k Posts: 1,209
Registered: 2011-10-9 09:37:34
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Date Posted:
1/1/00 12:01am
Subject:
site breaks down how much you'd get net out of 540 million lottery win for each state |
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Annuity is ONLY $17 million/year...
Ya, I think I'll be ok with that.
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Date Posted:
1/1/00 12:01am
Subject:
site breaks down how much you'd get net out of 540 million lottery win for each state |
I would probably hire an accountant or two and go talk to some investors and see what they think would be the best...
no state income tax in TN, so I'd walk out with a cool $134 million more by doing 26 payments versus the lump sum...
but in reality, I don't think it would matter much to me. I don't have a family full of poor people (in fact, very few are poor), so I wouldn't have half my family knocking on my door pleading for money. And the ones who did, I probably wouldn't have a problem giving them some.
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notmforce2k Posts: 1,209
Registered: 2011-10-9 09:37:34
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Date Posted:
1/1/00 12:01am
Subject:
site breaks down how much you'd get net out of 540 million lottery win for each state |
The annuity helps keep the INSANE insane purchases at bay. Don't lump me in with the "anyone who gets that kind of money will blow it" crowd. Pffft. I'd be fine. |
Cao_Ren Title: Archmaster
Posts: 157
Registered: 2001-7-13 18:33:35
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Date Posted:
1/1/00 12:01am
Subject:
site breaks down how much you'd get net out of 540 million lottery win for each state |
notmforce2k posted:
The annuity helps keep the INSANE insane purchases at bay. Don't lump me in with the "anyone who gets that kind of money will blow it" crowd. Pffft. I'd be fine.
I'd be setting up smaller annuities for friends and family. I suppose if you wanted to be super safe, you could create a small annuity for yourself. Maybe an account with a few million in it set to pay out for 25 years or so after the age of 60.
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Overlord of Wei-Britain
"Woooo, threesome with me, Cao, & Lynea!" -Poit-Narf
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FineYoungCannibals Title: Top of the food chain
Posts: 1,620
Registered: 2003-7-14 19:17:12
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Date Posted:
1/1/00 12:01am
Subject:
site breaks down how much you'd get net out of 540 million lottery win for each state |
can i get mine in blockbuster 2 for 1 coupons?
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FYC |
TickyAtack Posts: 1,303
Registered: 2001-10-23 15:46:32
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Date Posted:
1/1/00 12:01am
Subject:
site breaks down how much you'd get net out of 540 million lottery win for each state |
Screw this smarts crap.
Lump sum. Immediately waste 100 million.
Then figure the rest out.
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i, ticky.
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