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-   -   Chiefs Mega Millions at $1.1 BILLION (https://chiefsplanet.com/BB/showthread.php?t=344610)

Abba-Dabba 07-28-2022 01:19 PM
Quote:
Originally Posted by displacedinMN (Post 16385871)
Secretly buy my neighbors house and bulldoze it.

Start my own school

Sent from my SM-G991U using Tapatalk
Sell your existing and move to something nicer with some land.

Be a benefactor, rather than the administrator that has to deal with all the political bullshit.

Imon Yourside 07-28-2022 01:19 PM
Quote:
Originally Posted by DaFace (Post 16385605)
Granted, I'm probably one of the most boring people out there when it comes to money. (I invest in index funds, don't gamble, and don't buy lottery tickets.)

But I've never understood why people get so excited to participate when the numbers get crazy high. Even the most modest payouts of a few million dollars would be life changing. The difference in actual happiness between $100 million and $1 billion is almost certainly zero if not less than zero (since you'd have more stress dealing with everyone who wants a piece).
A million would greatly change my life ;)

ThaVirus 07-28-2022 01:22 PM
Quote:
Originally Posted by ptlyon (Post 16385823)
I don't know how it works. If you take the annuity does it stop if you die? Or would it keep going into the trust if you did?

Lucky for Life you can win $1,000 a day for life, but what about Powerball or mega millions?
I did some light Googling on it a while back.

From what I remember, the annuity can be left to heirs so that's a plus.

I believe, when you compare the full amount received, you actually stand to keep more of your winnings if you go with the annuity (assuming you live to see the final payout).

It looks like, with the annuity, you'd receive an initial payout, followed by 29 more payouts over the next 30 years. The payouts increase by 5% annually to combat inflation.

Abba-Dabba 07-28-2022 01:23 PM
Quote:
Originally Posted by O.city (Post 16385874)
Set up a trust to claim the winning ticket, I believe, woudl allow you to stay anonymous.

EDIT: Blind trust. I think.
Basically sell it to them for how many millions of dollars?

Wonder how much it would cost yearly to have some one manage it instead of selling it.

Wonder if there is a anonymous state where you can establish residency quickly within the time frame the ticket would need to be redeemed.

ToxSocks 07-28-2022 01:24 PM
Quote:
Originally Posted by O.city (Post 16385883)
With that kind of money, you'd have to worry about kidnapping and shit like that.

Nah.

Def stay anonymous.
Ahh you worry too much.

You're not a celeb or an athlete. Get a nice spot in a gated wealthy community, you'll be fine.

ThaVirus 07-28-2022 01:26 PM
To make things as simple as possible, let's just say the jackpot is $1 billion. Assume, after taxes, you end up with $500 million whether you take the lump sum or annuity.

You're looking at $500 million today

or

$16.6 million today and another $16.6 million every year for the next 30 years

Abba-Dabba 07-28-2022 01:27 PM
Quote:
Originally Posted by ThaVirus (Post 16385911)
To make things as simple as possible, let's just say the jackpot is $1 billion. Assume, after taxes, you end up with $500 million whether you take the lump sum or annuity.

You're looking at $500 million today

or

$16.6 million today and another $16.6 million every year for the next 30 years
Give me the half a billion.

Signed, sealed and delivered.

ChiefsCountry 07-28-2022 01:28 PM
Quote:
Originally Posted by O.city (Post 16385883)
With that kind of money, you'd have to worry about kidnapping and shit like that.

Nah.

Def stay anonymous.
I know a shit ton of people who have more money than the lotto winner would right here at the Lake and none of their places are guarded that secure. I think you would be fine.

TLO 07-28-2022 01:29 PM
Quote:
Originally Posted by ThaVirus (Post 16385911)
To make things as simple as possible, let's just say the jackpot is $1 billion. Assume, after taxes, you end up with $500 million whether you take the lump sum or annuity.

You're looking at $500 million today

or

$16.6 million today and another $16.6 million every year for the next 30 years
I'll take the 500 million please

scho63 07-28-2022 01:29 PM
If I win, I'm buying you all hookers and blow!

Abba-Dabba 07-28-2022 01:31 PM
Quote:
Originally Posted by scho63 (Post 16385920)
If I win, I'm buying you all hookers and blow!
And if I win I will buy you a bulldozer.

TLO 07-28-2022 01:31 PM
And if I win.. I'll buy you gas for teh bulldozer!

tk13 07-28-2022 01:31 PM
Quote:
Originally Posted by O.city (Post 16385883)
With that kind of money, you'd have to worry about kidnapping and shit like that.

Nah.

Def stay anonymous.
Most states won't allow you to do that. A few do though. It all depends on where you win.

TLO 07-28-2022 01:32 PM
Quote:
Originally Posted by tk13 (Post 16385929)
Most states won't allow you to do that. A few do though. It all depends on where you win.
I'll slip them a few million to keep it hush hush.

The Franchise 07-28-2022 01:33 PM
Quote:
Originally Posted by ThaVirus (Post 16385911)
To make things as simple as possible, let's just say the jackpot is $1 billion. Assume, after taxes, you end up with $500 million whether you take the lump sum or annuity.

You're looking at $500 million today

or

$16.6 million today and another $16.6 million every year for the next 30 years
Do you trust the government to hold onto your money and not **** it up somehow?

You could say the same thing about a trust or anything like that....but at least there would be a legal recourse if they did.


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