Quote:
Originally Posted by Bowser
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.
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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.
