Powerball jackpot at $400 million - Oops! $1.5 billion - $40 mil

[ViviTheMage]

According to the NY Times, it's better to choose the annuity if you're going to do that.

http://www.nytimes.com/2016/01/13/u...ner-take-our-advice-and-take-the-annuity.html

I think his math was wrong too, it's like 980mill cash after tax...or was that annuity? I would take lump sum if it was just me, you can't gift (if you die, which someone will probably kill you) annuity payments apparently, which is lame.

 

[jlee]

According to the NY Times, it's better to choose the annuity if you're going to do that.

http://www.nytimes.com/2016/01/13/u...ner-take-our-advice-and-take-the-annuity.html

Except the income you get from investments is taxed as long-term capital gains (assuming you let it sit for over a year), not as income - so the level of taxation is far less.

 

[zinfamous]

Man, I didn't get any of the numbers right. I could feel it in my bones that I was certainly going to win. Damn you bones, why do you deceive me so!!!

I, also, hate my bones.

 

[jlee]

I think his math was wrong too, it's like 980mill cash after tax...or was that annuity? I would take lump sum if it was just me, you can't gift (if you die, which someone will probably kill you) annuity payments apparently, which is lame.

That's probably the lump sum - ~550mil after taxes. Invested with a historical return of ~7% you're far better off with the lump sum invested (assuming you don't blow half of it right away).

 

[Brovane]

No problemo, the hype is always fun .

LOL, you are only 30 minutes from chino hills, how crazy. Should have had you buy the tickets!

I did buy my own tickets and didn't win with those either.

Yes, the hype is always the fun. Well worth the $10 buck buy-in.

 

[BeeBoop]

Why does my last gmail from vivi tell me that the message contains things to steal my personal information?

 

[Capt Caveman]

No problemo, the hype is always fun .

LOL, you are only 30 minutes from chino hills, how crazy. Should have had you buy the tickets!

ViviTheMage, thanks for all of your hard work!!!!

 

[zinfamous]

Why does my last gmail from vivi tell me that the message contains things to steal my personal information?

vivi love you longtime

 

[Slew Foot]

Why does my last gmail from vivi tell me that the message contains things to steal my personal information?

probably because it contains the words lotto and won, which typically triggers the "be careful, this email could be trying to steal your info"

 

[mafia]

Maybe one of the ticket numbers was typed wrong on the excel sheet?? :'(

 

[AdamK47]

I'm in the lead in this thread with $0 spent and $0 won.

 

[disappoint]

Maybe one of the ticket numbers was typed wrong on the excel sheet?? :'(

A mistake like that would be caught even if no one noticed at first. The lottery would announce where the jackpot tickets were bought and if they were bought at the same store ViviTheMage went to he would probably (I would hope) double and triple check them all manually to be sure before running off with your winnings to his private uncharted island.

 

[balloonshark]

Man, I didn't get any of the numbers right. I could feel it in my bones that I was certainly going to win. Damn you bones, why do you deceive me so!!!

I bought 5 tickets on the side and I didn't hit one single number. This happens every time I buy easy picks.

Oh well. It was fun to dream for a week.

P.S. Thanks Vivi

 

[FelixDeCat]

:'(

 

[Ns1]

Update: still poor

 

[RossMAN]

How am I going to pay off the last $10 on my K-Mart Layaway?

 

[ViRGE]

Vivi, I think your math is off. Matching the Powerball is worth $4, not $2, etc.

 

[dave_the_nerd]

I'm in the lead in this thread with $0 spent and $0 won.

Maybe so, but I'm making lasagna. :awe:

 

[AdamK47]

Maybe so, but I'm making lasagna. :awe:

dave_the_nerd is in the lead in this thread with $6 spent and lasanga won.

Or however much you spent on it.

 

[Phokus]

Maybe so, but I'm making lasagna. :awe:

Great, now i'm hungry... i'll give you all my powerball tickets for a bite

 

[Humpy]

I hope it was an illegal immigrant who won.

 

[Matthiasa]

I hope it was an illegal immigrant who won.

If they were and actually still got paid, they would quickly find themselves legal citizens. That is after all enough money for almost anything.

 

[Ns1]

2 more winners just announced.

 

[uhohs]

I hope it was an illegal immigrant who won.

maybe
http://www.notinchinohills.org/

 

[stlc8tr]

Except the income you get from investments is taxed as long-term capital gains (assuming you let it sit for over a year), not as income - so the level of taxation is far less.

I believe he was was comparing a specific scenario where you are purchasing ultra safe securities like 30-year treasuries or some type of insurance product, not equities.