Powerball dreaming. Annuity or Lump Sum

[CrystalClear82]

Lump Sum. ---- You want control of your $$.

 

[Schneewittchen37]

That lump is too big. 20 years please.

 

[MillauFr]

Lump Sum. ---- You want control of your $$.

I think at those amounts the $$$ control you.

 

[bcwife76]

If I’m Canada, I’d take the lump sum. We don’t pay tax on winnings so it would be fun to spread that around as much as possible.

We're 15 minutes from 3 different border crossings, seriously considering driving down to Washington state on Friday night or Saturday morning and buying a few tickets ;-)

 

[BlueStarryHat]

A million is worth that much anymore. I think you better make that number $10m.

Ye-ah...but it's a start. You could buy a house and have it all paid for. I'd give a million to each of my cousins, and set up my sister and her kids for life. Myself, after setting up the charity and giving large amounts to other causes I love, like The Trevor Project, would buy a little house in Wildwood (maybe even my grandparents' old place. The people who live there don't know they're selling yet) and furnish and decorate it as I please. And I'd get two cats.

 

[fla4fun]

First I would have to see if I am the sole winner or if I am only receiving part of that 1.5 billion. Next, I would compare the amount I would receive overall if I took the annuity vs. the lump sum, based on life expectancy. I lean towards the lump sum, but I also like the idea of knowing that if something goes wrong, and my unscrupulous accountant runs off with my money one year, that I have more coming in. Whichever I choose, the funds would be going into a trust.

 

[Taxtherich12]

Lump sum. It’s something like 757 mil before taxes. More money than anyone can spend in a lifetime.

 

[skittles67]

Being in my 50's I would take the lump sum.

 

[Cannot_Wait_4Disney]

I'm going to buy a new car. But I'm not looking to be extravagant. I'm looking for maybe a nice functional new Honda.

 

[MillauFr]

I think I would produce a movie.... Brewster's Millions 2.....

 

[prairie_girl]

If I’m Canada, I’d take the lump sum. We don’t pay tax on winnings so it would be fun to spread that around as much as possible.

What the heck does if I’m Canada mean? Stupid autocorrect lol

 

[prairie_girl]

I don't want all of you to be jealous, but ... we won $4 last night with our Powerball winnings. Yes, no worries as we have contacted a lawyer and are ready for people to come out of the woodwork.


And lump sum for us!

Congratulations Auntie fly

 

[mrodgers]

I'm giving 1% of my Powerball jackpot winnings to each person who comments in this thread, so I assume you want me to take the lump sum.

Jokes on you when you win your $749 million lump sum, and you have to give 1% to each currently 63 people. Then after you give away $472 million of the jackpot number, but now realize you have to pay the 37% taxes on your $749 million at $277 million so you'll only have $0 left!

I hope for your sake no one else posts or you're going to owe the IRS quite a lot of money and it will probably wipe out your 401k retirement

EDIT: Oops, you're in the clear for a little bit, don't have my reading glasses so didn't catch the 53 vs 63 posts.

 

[NotUrsula]

Lump sum. It’s something like 757 mil before taxes. More money than anyone can spend in a lifetime.

Oh, that's so not true. There are plenty of celebrities out there who managed to burn through that kind of money in just a few years through careless spending combined with bad management and too much trust in other people. Multiple homes, top-end cars, chartered planes and $30K/night rental villas; it all adds up. Throw in an entourage and you'd be surprised how fast it all can blow away.

Apparently, Jimmy Buffet had a falling out with some of his band members some years back when he was reviewing his tour expenses and realized that about 20 extra people seemed to have appeared on the payroll. A couple of guys had invited their entire extended families to come along on a 3-month tour, all expenses paid. They hadn't even bothered to ask him, and they were ticked off when he told them the extra people were out.

When you have that kind of money (and JB nearly does, btw) people around you often presume that you won't care if they spend some of it for you, so the only way to *keep* that kind of money is to watch it carefully.

 

[tvguy]

I'm 65 so I'd take the lump sum. When the Lottery first came to California, you didn't have a lump sum option, you had to take it over 20 years. Financial planners lobbied for a lump sum option because all the Lottery does is buy an annuity to pay the winners and they felt there were better annuity options out there than what the state was buying.

 

[Minnesota!]

lump sum, no question. I want to help all the people that I can, as soon as I can!

 

[MillauFr]

Looks like a huge back up from Las Vegas for lotto ticket buyers trying to get to the Lotto Store in Primm which is just across the border in California.

 

[Cannot_Wait_4Disney]

Looks like a huge back up from Las Vegas for lotto ticket buyers trying to get to the Lotto Store in Primm which is just across the border in California.

LOL the entire complex is on the Nevada side in Primm and the only building on the California side is the lotto store which has Nipton CA as its postal address. Reminds me of fireworks stores around here. We have one where the entire parking lot is in a county that bans em but the store itself is in a county that allows them. There are always a ton of tents right at the county line next to counties that ban them. Or Pot stores in Illinois right next to the Wisconsin border.

 

[ronandannette]

I'm in Canada, I’d take the lump sum. We don’t pay tax on winnings so it would be fun to spread that around as much as possible.

This, exactly. I've been dreaming for years about all the amazing things my "Foundation" will fund. And the goal of my remaining time on earth would be to give/spend it down to the very last penny.

I'm giving 1% of my Powerball jackpot winnings to each person who comments in this thread, so I assume you want me to take the lump sum.

Please PM me for my contact info, when "our" ship comes in.

My only concern would be that my wife would still be too cheap to upgrade to club level rooms.

Ha! I'd be like your wife because there's "can we afford it" vs. "is it worth it".

 

[Taxtherich12]

Oh, that's so not true. There are plenty of celebrities out there who managed to burn through that kind of money in just a few years through careless spending combined with bad management and too much trust in other people. Multiple homes, top-end cars, chartered planes and $30K/night rental villas; it all adds up. Throw in an entourage and you'd be surprised how fast it all can blow away.

Apparently, Jimmy Buffet had a falling out with some of his band members some years back when he was reviewing his tour expenses and realized that about 20 extra people seemed to have appeared on the payroll. A couple of guys had invited their entire extended families to come along on a 3-month tour, all expenses paid. They hadn't even bothered to ask him, and they were ticked off when he told them the extra people were out.

When you have that kind of money (and JB nearly does, btw) people around you often presume that you won't care if they spend some of it for you, so the only way to *keep* that kind of money is to watch it carefully.

Yes I know that this happens. But I would hope that it wouod
Get me through my next 40 years, god willing, with plenty to get my children’s children to college. I think we would go nuts for a bit then kind of get over and move on