>>"Keep in mind, however, that state rules for lottery winnings can vary, so check with an attorney before acting to make sure this will work and is permissible where you live."
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The MegaMillion Jackpot is at 340 Million Dollars which is roughly 120 Million after all taxes
- Thread starter Anthony Mooch
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>>"Keep in mind, however, that state rules for lottery winnings can vary, so check with an attorney before acting to make sure this will work and is permissible where you live."
You would probably be taxed in the US and as you brought it into Canda, so double.
Lump Sum all day.
100 million in the bank stands to gain anywhere between 4 and 6 million a year in growth alone.
It's a way to secretly create new tax revenues so you don't have to deal with the bad publicity of raising taxes. For instance does your state need 30 million dollars over the next 3 years to fund some government initiative? Make a new state lottery and tax the majority of the winnings. You get the money and the public dosent realize you just made a new tax.
Yes, there is a gift tax for any amount over 14k in a year. The person giving the money is the one taxed.
If you got all that money make sure to invest it in something proven to be safe for the future.
Something like bitconneeeeeeeeect!
Something like bitconneeeeeeeeect!
Charity is throwing money away and most of it probably wouldn't end up where you'd hope. Better to actively invest in social or community projects, preferably into something with a tangible or pre-set cost like schools or homes so your money can't get too "lost."
Yeah, I lowered my 2nd best friend from 1 million to 500k upon the edit. Suppose you get that $500k then for attention to detail. Congrats!
Horrible idea and youre naive to think that handouts will stop after that.
Thanks for the explanation. So they also make money from tickets sold too if it is state run?
Do states tax other forms of gambling winnings? Like if I bet on an NFL game? Or a casino jackpot etc.
Yeah, I'd hope to minimize that obviously. I'd work with FPs and Tax people (I work in audit).
I'd just bank the $120 million and live casually off the interest.
Get 1.07% in Savings and throw a couple million into a 5 year CD at 2.71%. Things are looking good.
Pay off all my bills, move to a decent house in a nice area and chill-out the rest of my days.
Get 1.07% in Savings and throw a couple million into a 5 year CD at 2.71%. Things are looking good.
Pay off all my bills, move to a decent house in a nice area and chill-out the rest of my days.
Lol this is an incredibly naive and presumptuous comment. You literally know nothing about me.
The thing I hate is how they've run these since they added #'s and the buy-in ($2 now for both PB and MM). Nobody wins for months so it balloons to stupid numbers.
Before, the top jackpots would be like 50 mil, but at least someone won every couple weeks or whatever.
Before, the top jackpots would be like 50 mil, but at least someone won every couple weeks or whatever.
If I win, I want a private screening room so I can see movies in peace. Fuck people and their cell phones.
It add some up if you play consistently.
If I won hundreds of millions, I'd do my best to help out as many low income families as I could. Mostly by opening businesses that pay livable wages.
Im not saying you would continue handing out money. Just that the large group of people (even bigger through association and their own actions) will continue to ask for handouts.
I'm much closer with my full sibling. My halves are 17 and 15 years older than me and have their own lives.
That's fair and I'm sure the requests keep coming. Luckily, I'm frugal, fairly cheap, and kind of a dick when it comes to money. I have no problem saying no.
I'd actually wait 6-12 months before giving anything out beyond my family/wife's family. Maybe longer. I'd let a buffer period lapse before and gauge things from there. Goal is that I'd never hand out more than 10% of the earnings. I'm in California so I've got about 15.5 million to work with under that idea.
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Yeah shit gets ugly as fuck when money is involved.
Then would be the guilt trips and bleh.
Anybody post the reddit post?
No?
Ok then.
Congratulations! You just won millions of dollars in the lottery! That's great.
Now you're fucked.
No?
Ok then.
Congratulations! You just won millions of dollars in the lottery! That's great.
Now you're fucked.
Invest nearly the whole amount after paying off all our debt and buying a larger house.
Live the rest of our days in peace living off the interest\investment returns essentially forever. Work on ideas I've had for years and no time to invest into them.
Live the rest of our days in peace living off the interest\investment returns essentially forever. Work on ideas I've had for years and no time to invest into them.
It's probably easy to say when it's not happening to you, but I always found the people who buy mansions and loads of cars to be crazy, especially when it's only a couple of million.
I'd buy a decent but not huge house, a slightly better car than I have now but still nothing to stand out, give some to my parents including the handouts for the rest of the family and then invest and enjoy pursuing my hobbies with my time.
I'd buy a decent but not huge house, a slightly better car than I have now but still nothing to stand out, give some to my parents including the handouts for the rest of the family and then invest and enjoy pursuing my hobbies with my time.
Well, if I won millions of dollars I'd want to live in a neighborhood with fellow rich people, which means a large house. Though I agree about a giant mansion, I don't want a 10,000+ sq ft house.
I would however buy a lot of cars, because that's something I already do.
I've said it for years, but if I won the lottery, I'd follow that Reddit post to set up a shell corp/business to claim the funds (which I can do in this state), and then basically live my life as-is.
Days where I feel down? Refresh that number in my online banking.
This pragmatic solution is undoubtedly why I'd never win, of course.
Days where I feel down? Refresh that number in my online banking.
This pragmatic solution is undoubtedly why I'd never win, of course.
Damn that's a huge chunk of change. I can do a lot of things with that kind of scratch. The things I'd do with that type of scrill.
I'd probably invest in some kind of business and hope it becomes a billion dollar enterprise, that way Forbes can put me on their front cover with a big fat "self-made" title on it.
I'd probably invest in some kind of business and hope it becomes a billion dollar enterprise, that way Forbes can put me on their front cover with a big fat "self-made" title on it.
i kind of hate how in some states they make it really difficult for you to stay anonymous.
i'd definitely tear up my ticket in protest if i won lol
i'd definitely tear up my ticket in protest if i won lol
It's not taxes. There's a penalty for taking the lump sum instead of yearly payments.
Do the best i can to keep my identity on the down low.
Divide up ten million for my close family and friends. No large sums outright, cuz im not giving more handouts when they blow through their money.
Learn as much as i could about securing and investing most of whats left. Make budgets, etc.
Take a vacation for a few months. Far away from everyone lol.
I'd buy buy 50+ acres and build a nice house, somewhere in the forest, close to the coast. Pacific northwest most likely.
Finish my education and continue to work in some manner.
Divide up ten million for my close family and friends. No large sums outright, cuz im not giving more handouts when they blow through their money.
Learn as much as i could about securing and investing most of whats left. Make budgets, etc.
Take a vacation for a few months. Far away from everyone lol.
I'd buy buy 50+ acres and build a nice house, somewhere in the forest, close to the coast. Pacific northwest most likely.
Finish my education and continue to work in some manner.
I'm going to put a taco truck on every corner to piss of Trump supporters. Fuck em.
Ohh id take the lump sum anyway. If I had the whole thing I'd end up buying too much stupid stuff lol.
I know cell phone are annoying but really? You can either wait a few weeks and save yourself a lot of money, deal with it or go to a theater that actually enforces the rules about cell phone. It seems like a good way to blow your money on useless stuff.
winning the lottery is like robbing a bank. you don't go crazy and buy expensive shit the day after. stay low, buy a nice house but don't go driving around in ferraris and wear gold chains like Mr. T.
I would definitely get a classic car like a 1973 Datsun 240z, get a decent 2 bedroom condo in SF and just travel the world, eat a lot of things and take photos of it.
also this
I would definitely get a classic car like a 1973 Datsun 240z, get a decent 2 bedroom condo in SF and just travel the world, eat a lot of things and take photos of it.
also this
Man, you are 100% going to waste $3 on something you don't need within the next like 48 hours.
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