Hmm, good point. That might change the breakeven point.

I like that one.

I've always heard that if you won a powerball jackpot and took the lump sum, you end up with roughly 30% of the amount after all taxes are settled.

200 million-ish in my pocket would be ok with me.

Going to Hawaii NOW , going to stand under as many coconut trees as possible to improve my odds.

I gotta win this sucker.

Has any millionaires tried to win the lottery?

IIRC, the first person to win a powerball jackpot over 300 million was a millionaire businessman from somewhere back east (Carolinas?). His story was a disaster - one of his grandaughter's friends was found dead in his pool, and supposedly some people got access to his accounts and cleaned him out.

Again, IIRC.

Apparently a group of Australians bought $5 million of Virginia lottery tickets in 1992 and won: http://www.forbes.com/sites/joshbarr...-millions-win/

Yeah, the likelihood of multiple winners, which is exacerbated when casual players jump aboard when the jackpot is huge, assures that the expected value will always be < $2.

I think the stripper and her boyfriend robbed him. They also found the granddaughter dead hidden in the back of a truck
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The high tax figures and the way so many people go through the large amount of money within a couple of years are why, when I actually spend money on the lottery (very seldom), I ask for the annuity payout. You get more total and you are guaranteed a very large income for many years (probably the rest of my life at this point).

600 million paid over 25 years = 24 million per year before taxes. It might be a little rough but I think I can survive on that for a few years before needing to find a job again. ROFL

Yes, I would post from my yacht.

Keep in mind, the advertised jackpot doesn't actually exist. The cash they have on hand to pay the winner is the lump-sum payment. If you choose the $600MM option, you are basically telling them to hold your money for you, invest it in an annuity, and pay you from it each year. They calculated that with interest, you'll eventually get that higher number.

If you want an annuity, you could buy one yourself. The tax difference doesn't matter much (except maybe in CA where they have a million dollar bracket), you are way into the top bracket either way, and if you take the annuity, maybe they raise taxes in 10 years.

If the lottery winner is either dumb, a spendthrift, or weak-willed enough to be taken advantage of, they should do the annuity. If the winner is smart, they should take the cash.

Welp shit

Okay. I'm going to need a price.

This site is going to look great in orange and blue.