Powerball Jackpot Reaches $1.5 Billion, Largest Lottery in U.S. History - Polidicks

[QUOTE=Toro;49529117]I'd go for the innuity payment because $30,000,000 is still more money than you will know what to do with, once you reach the hundreds of millions, more money doesn't really matter because all you'll be able to do with it is have it sit in a bank collecting interest, or giving it to charities.[/QUOTE] This is why you shouldn't win the lottery.

[QUOTE=Snoberry Tea;49533650]This is why you shouldn't win the lottery.[/QUOTE] Why, because id rather have a smaller (yet still massive) sum of money over a longer period of time than a gargantuan amount of money instantly? Either way you'd still be set for life, and with the annuity payment, if you fuck up hard and lose a ton of money, you'll still be getting 30 million the next year, and hopefully you'd have learned from your mistake to not do it again. If you fuck up with the lump sum, tough shit, its gone, you can go back to peddling friendship bracelets on your street corner.

[QUOTE=Toro;49533706]Why, because id rather have a smaller (yet still massive) sum of money over a longer period of time than a gargantuan amount of money instantly? Either way you'd still be set for life, and with the annuity payment, [b]if you fuck up hard and lose a ton of money[/b], you'll still be getting 30 million the next year, and hopefully you'd have learned from your mistake to not do it again. If you fuck up with the lump sum, tough shit, its gone, you can go back to peddling friendship bracelets on your street corner.[/QUOTE] You shouldn't be doing that at all, if you had two brain cells to rub together.

[QUOTE=Toro;49533706]Why, because id rather have a smaller (yet still massive) sum of money over a longer period of time than a gargantuan amount of money instantly? Either way you'd still be set for life, and with the annuity payment, if you fuck up hard and lose a ton of money, you'll still be getting 30 million the next year, and hopefully you'd have learned from your mistake to not do it again. If you fuck up with the lump sum, tough shit, its gone, you can go back to peddling friendship bracelets on your street corner.[/QUOTE]If you're seriously that inept at handling money just take the lump sum, keep some millions, and give the rest to me so I can do the humanitarian and environmental work I've always wanted to do. I'll check up on you from time to time to make sure you're not fucking over yourself and remind you to spend wisely if you want. Seriously I cannot even imagine how people go bankrupt when the easiest way to handle this is this: 1: decide how much you're giving friends and family, have a lawyer handle that distribution 2: decide what you plan to do, surely you've had a couple dreams so far 3: reconcile that with the hard fact that most of your money will need to be invested to get a worthwhile return, you'll want a nest egg 4: carry out plans for money That simple. Don't fucking deviate from the plan, especially on the first and third points. Number two can change and shift, just don't go from "oh man I want a mansion!" to "HAHAHA I WANT TO LIVE IN A HOUSE MADE OF BEES" because those impulsive decisions [I]will fuck you.[/I]

[QUOTE=Toro;49533706]Why, because id rather have a smaller (yet still massive) sum of money over a longer period of time than a gargantuan amount of money instantly? Either way you'd still be set for life, and with the annuity payment, if you fuck up hard and lose a ton of money, you'll still be getting 30 million the next year, and hopefully you'd have learned from your mistake to not do it again. If you fuck up with the lump sum, tough shit, its gone, you can go back to peddling friendship bracelets on your street corner.[/QUOTE] Because you're throwing away the majority of the powerball winnings and your potential profits by taking annuities. I'm not going to repeat information that's been said over and over. Go back in the thread and look at the information. Taking annuity over lump sum is the dumbest option. You lose more in taxes, you're susceptible to future tax increases or additional taxes, you're susceptible to the lotto system crashing and no longer being available, you lose out on a huge sum of profit from investment opportunity, etc etc. The SMART thing to do is take the lump sum and dump it in a high interest bearing account and live off the interest. NOT rely on the government to handle your money for you. [editline]15th January 2016[/editline] [QUOTE=JumpinJackFlash;49535327] That simple. Don't fucking deviate from the plan, especially on the first and third points. Number two can change and shift, just don't go from "oh man I want a mansion!" to "HAHAHA I WANT TO LIVE IN A HOUSE MADE OF BEES" because those impulsive decisions [I]will fuck you.[/I][/QUOTE] But what if my dream is to live in a mansion made of bees?

[QUOTE=Snoberry Tea;49535543]But what if my dream is to live in a mansion made of bees?[/QUOTE]Then you're a vain fool who deserves poverty! Good [I]day[/I] to you, sir.

[QUOTE=Snoberry Tea;49535543]Because you're throwing away the majority of the powerball winnings and your potential profits by taking annuities. I'm not going to repeat information that's been said over and over. Go back in the thread and look at the information. Taking annuity over lump sum is the dumbest option. You [b]lose more in taxes[/b], you're susceptible to future tax increases or additional taxes, you're susceptible to the lotto system crashing and no longer being available, you lose out on a huge sum of profit from investment opportunity, etc etc. The SMART thing to do is take the lump sum and dump it in a high interest bearing account and live off the interest. NOT rely on the government to handle your money for you. [editline]15th January 2016[/editline] But what if my dream is to live in a mansion made of bees?[/QUOTE] How do you lose more in taxes though? The percentage paid is still the same, isn't it?

A hilariously absurd comparison for how ridiculous this jackpot's prize was: The winner of this, even when accounting for tax reduction on the prize in upwards of 500 million, is now worth 5 times as much as Bieber, who has a networth himself 5 times of Nintendo legend Shigeru Miyamoto who himself has a net worth over 6 times as much as Bill Nye the science guy. aka wtf are this world's priorities

I read that the couple in Tennessee that won the jackpot is going to return to work. The fuck is wrong with them? lol

[QUOTE=agentfazexx;49543111]I read that the couple in Tennessee that won the jackpot is going to return to work. The fuck is wrong with them? lol[/QUOTE] Maybe they don't want to be bored? I'd be bored off my ass if I didn't have a job or school. Sitting around all day isn't fun.

[QUOTE=Tuskin;49543470]Maybe they don't want to be bored? I'd be bored off my ass if I didn't have a job or school. Sitting around all day isn't fun.[/QUOTE] I never understood this mentality with this kind of cash you could design your own theme park or travel the world ..start a business that makes some awesome product or other or write a movie Are there truly people out there with such little imagination that they cant think of anything to do to fill time than go back to the office? before you could sneeze I'd be off round the planet with everyone i hold close before picking the perfect place to live and designing my own house there ...that'll easily take up a few years right off the bat i'll be fucked if i'm spending my life putting up with the shitness of working an everyday job when i could be in the jungles of mexico with some fajita's

[QUOTE=mini me;49543569]I never understood this mentality with this kind of cash you could design your own theme park or travel the world ..start a business that makes some awesome product or other or write a movie Are there truly people out there with such little imagination that they cant think of anything to do to fill time than go back to the office? before you could sneeze I'd be off round the planet with everyone i hold close before picking the perfect place to live and designing my own house there ...that'll easily take up a few years right off the bat i'll be fucked if i'm spending my life putting up with the shitness of working an everyday job when i could be in the jungles of mexico with some fajita's[/QUOTE] For some people, that's all they really want, with the added bonus of never having to worry financially. That being said, I would travel to Europe. Sounds cliche, but its definitely someplace that I've always found fascinating. At least, that one of the things I would do.

I want to buy a ticket, but I know I won't win :(

[QUOTE=Tuskin;49543470]Maybe they don't want to be bored? I'd be bored off my ass if I didn't have a job or school. Sitting around all day isn't fun.[/QUOTE] $200 million will let you travel for the rest of your life. How would you be bored? [editline]16th January 2016[/editline] [QUOTE=mini me;49543569]I never understood this mentality with this kind of cash you could design your own theme park or travel the world ..start a business that makes some awesome product or other or write a movie Are there truly people out there with such little imagination that they cant think of anything to do to fill time than go back to the office? before you could sneeze I'd be off round the planet with everyone i hold close before picking the perfect place to live and designing my own house there ...that'll easily take up a few years right off the bat i'll be fucked if i'm spending my life putting up with the shitness of working an everyday job when i could be in the jungles of mexico with some fajita's[/QUOTE] Half the people I work with would be in the office the next day. Fucking workaholics man.

[QUOTE=agentfazexx;49544106]$200 million will let you travel for the rest of your life. How would you be bored? [editline]16th January 2016[/editline] Half the people I work with would be in the office the next day. Fucking workaholics man.[/QUOTE] I would at least go back to put in my two weeks notice, and then finish that up. Provided it was a place that I liked, wouldn't want to just leave all my work suddenly on all my friends at work. That and I could show off the dank car I would've went out and bought.

[QUOTE=Sir_takeslot;49544323]I would at least go back to put in my two weeks notice, and then finish that up. Provided it was a place that I liked, wouldn't want to just leave all my work suddenly on all my friends at work. That and I could show off the dank car I would've went out and bought.[/QUOTE] Well yeah obviously I'd do that, I'm not a total douche. But I still wouldn't work another day in my life.

[QUOTE=Headhumpy;49537842]How do you lose more in taxes though? The percentage paid is still the same, isn't it?[/QUOTE] The percentage is the same but the gross amount is different. If you take lump sum on 1.5bn you get 930m, and that's what's taxed. If you take payments, you get 1.5bn, and that's what's taxed. So: Jackpot = 1.5bn Lump Sum: 930m paid, 368.28m in tax (net: 561.72m) Payments: 1.5bn paid, 594m in tax (net 906m over 30yrs @ 30.2m/yr) Not to mention if you take lump sum, you can invest the entire sum of 561.72m instantly. If you took payments, even though you'd get 345m more after the 30 years, you'd have to wait 19 years to get the same amount as you got in the lump sum, and in those 19 years your lump sum would have been making a shitload more than 30m/yr [editline]16th January 2016[/editline] [QUOTE=agentfazexx;49543111]I read that the couple in Tennessee that won the jackpot is going to return to work. The fuck is wrong with them? lol[/QUOTE] Boredom dude. My 'grand plan' for winning the lottery basically boils down to working every day anyway. Just that I get to work for myself, and I can choose to fuck off and drink beer all day if I want instead. [editline]16th January 2016[/editline] [QUOTE=mini me;49543569]jungles of mexico with some fajita's[/QUOTE] And then you get kidnapped by the cartel and ransomed for your entire net worth or they kill you. And maybe after you give them all your money they kill you anyway

win the lottery, work at mcdonalds for the rest of your life for something different

[QUOTE=Sir_takeslot;49544323]I would at least go back to put in my two weeks notice, and then finish that up. Provided it was a place that I liked, wouldn't want to just leave all my work suddenly on all my friends at work. That and I could show off the dank car I would've went out and bought.[/QUOTE] I work construction for a contractor who's also a pretty good friend of mine. If I had won, my 'two weeks notice' for him would be buying him a new work truck and trailer (which he desperately needs) and then hiring him and his cousin (who also does contracting work) to build me a house and paying them a lot more than they'd usually get paid for it. [editline]16th January 2016[/editline] [QUOTE=Map in a box;49544928]win the lottery, work at mcdonalds for the rest of your life for something different[/QUOTE] More like "win the lottery, work random retail jobs and keep getting fired for not taking shit from rude customers because it doesn't actually matter"

[QUOTE=mini me;49543569]I never understood this mentality with this kind of cash you could design your own theme park or travel the world ..start a business that makes some awesome product or other or write a movie Are there truly people out there with such little imagination that they cant think of anything to do to fill time than go back to the office? before you could sneeze I'd be off round the planet with everyone i hold close before picking the perfect place to live and designing my own house there ...that'll easily take up a few years right off the bat i'll be fucked if i'm spending my life putting up with the shitness of working an everyday job when i could be in the jungles of mexico with some fajita's[/QUOTE] Not everybody works a shitty job they don't like or that doesn't bring them any fulfillment. Give a scientist or pretty much anybody in academia all of that money and I guarantee you the vast majority of them will keep doing what they're doing (they might go about it in a different way than they used to, but they'd still be doing it in one form or another).