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Author Topic: site breaks down how much you'd get net out of 540 million lottery win for each state [Locked]
Mangler_SC  4 stars
Title: Bellybutton Lint Collector
Posts: 1,856
Registered: 2003-12-2 08:37:05
Wisconsin: 7.75% State Tax

Your net per year: $16,553,847 Your net payout: $310,695,000
After 26 payments: $430,400,022

Long term is the only sane choice.

 

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Mangler had an accident on the way home from the liquor store. He was run off the road and crashed into a woman's clinic. It was one giant Pabst smear.
-Bou_Te
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Soylent CLiKK -- It's PEEEEEOPLEEE
TheUnholyGhost  2 stars
Title: Mr. Subtle
Posts: 271
Registered: 2000-4-4 13:21:40
I said it in the other thread, and I'll say it in this one.

If you took the annuity over the lump sum, you must be half-retarded.

Any which way you slice it, the lump sum comes out on top.
Even with average interest and dividends, you'd eclipse the annuity at the end of the 26 years....nevermind it would take you 26 years. With the lump sum,

"It's my money, I need it now!"

 

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The Ghost
Ryan Giggs, the Legend: http://www.youtube.com/watch?v=3GxhYklM_3M
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Mangler_SC  4 stars
Title: Bellybutton Lint Collector
Posts: 1,856
Registered: 2003-12-2 08:37:05
You like soccer, you are obviously not qualified to answer anything.

 

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Mangler had an accident on the way home from the liquor store. He was run off the road and crashed into a woman's clinic. It was one giant Pabst smear.
-Bou_Te
.
Soylent CLiKK -- It's PEEEEEOPLEEE
Cao_Ren  1 star
Title: Archmaster
Posts: 157
Registered: 2001-7-13 18:33:35
With the new higher jackpot, the lump sum is way better than the annuity.

For Indiana: 330.79 million lump or 17.62 million per year.

Investing just 250 million of the lump some versus investing every cent of the annuity after 26 years with an average of 5% return:

933 million vs 885 million.

 

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Overlord of Wei-Britain
"Woooo, threesome with me, Cao, & Lynea!" -Poit-Narf
ryu_masamune
Posts: 40
Registered: 2000-5-18 06:56:19
I would lose a lot of friends, I think. Since I'm waiting on feedback from interviews, I got bored so I've spent some time thinking about what I'd do.

1) I'd hire a recent grad CPA or JD (or preferably both) to be a Personal Assistant and advisor after a very thorough background investigation and interview process as his starting salary would be around $300,000/yr. There would be an 'X' factor that really makes or breaks getting the job. The willingness to execute 'other duties as assigned' and resourcefulness. I would likely target White House interns or Jr. Staffers (for reasons explained below).

2) I'd send 1st Class Tickets and $5,000 for shopping to my first mentor, 2 former bosses, 3 friends that work at MS in various capacities, a friend of mine that works at Lowe's and is convinced he'll turn me gay some day, my oldest friend from the Corps and his Philosophy Professor wife, a friend from Cornell, a chef friend at Alan Wong's and his GF. We'd meet, all of us flying, in Las Vegas or something.

3) I'd offer everyone at this meeting a proposal: come and see the world with me for a year on cruise ships, planes, trains, safaris and trails; all expenses paid - and collaboratively think of how we could utilize $150M of my winnings to make some measure of impact. This could be the development of a product, starting a company, building a community center, funding research, creating a SuperPAC and literally buying a High Office election... anything is on the table. This plurality is being asked because I trust them and know these people all to think much more critically than I tend to: so I could also trust they would not be afraid to tell truth to power. And the purpose of the extended expedition is to broaden our perceptions and experiences to better inform our discussions. On top of which, for helping me find some meaningful use, everyone who comes will get a $2M gift from me as a thank you. No contracts or anything - it isn't a job (though it could turn in to one) and if in 4 months you can't stand half of my other friends, no hard feelings if you want to leave and go home to return to your lives. I think many would accept, a few probably wouldn't - and most all of my friends that didn't get the invitation would be furious they weren't asked and I'd lose some of them.

4) Hire a PsychD whose primary purpose is to observe and safeguard me in private, but also as an equal input to the panel and for medical situations, if any. It crosses and blends lines of the Doctor/Patient relationship, so I expect this would be difficult to do.

5) Invest $40M in an IRA, $10M in savings accounts that couldn't be accessed unless all other resources were gone. $125M would go a diverse portfolio or would be figured out with my PA.

6) Ensure my dad never had to work again a day in his life, if he chose - and a few close friends not invited on the trip would get full rides to college, good housing, etc.

 

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Your side hates my side because you think we think you're stupid.
My side hates your side because we think you're stupid.
Sgian_Dubh  2 stars
Posts: 446
Registered: 2003-4-7 10:19:52
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?



Yeah, it would.


I already have dreams of going over earnings statements with my financial team.

 

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"ou'll rue the day you crossed me Trebek!"
EbonDragon  4 stars
Title: 8bit epileptic
Posts: 1,041
Registered: 2002-12-21 19:14:06
AZ lottery website must be getting hammered..
Shazami  2 stars
Posts: 453
Registered: 2002-3-22 16:26:07
EVERY lottery-related website is getting hammered, lol
BritonGuy  4 stars
Title: Serious Business
Posts: 1,567
Registered: 2004-3-4 20:43:50
ryu_masamune posted:

This could be the development of a product, starting a company, building a community center, funding research, creating a SuperPAC and literally buying a High Office election... anything is on the table.



Worked so well for Gingrich.

 

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Briton Guy...persnickety...NEVER! -Murron (truly)
Hawkson is the greatest. -Hawkson
Britonguy is usually right. -Onslaught on BT
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Do you expect me to remember what I put in my mouth? -NSMachi
silvadel  1 star
Title: MMRPG Expert
Posts: 165
Registered: 2001-4-18 11:54:17
Reminds me of a bugs bunny episode...

$1,000,000
... tax
... tax
....

You owe us a total of $6.52 -- please remit...

You didnt get the money did you doc....

 

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When you squash every flavor of the month all you have in the end is vanilla...
Endgame all too often = End of the game being fun

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