Poor people love the fucking lottery. A bunch of my employees buy scratch offs every day then complain about how broke they are
But just one ticket. Chances of winning: 0 tickets: 0.0000000000000 1 ticket: 0.0000000000001 2 ticket: 0.0000000000002 ...extra tickets don't increase your chances of winning enough to be worth it... but you should definitely buy ONE ticket.
But it's so much more fun if you get to check to see if you won more than once. You pay for the hopeless thrill.
It's the same as going to every sad sack casino not in a typical tourist destination. I went to one once where old people on breathing machines were playing penny slots at 2:00 am.
I don't believe I've ever seen a winner come forward so quickly. She's already had her press conference. lol
Stupid as shit. You talk to attorneys and tax specialists before you do a fucking thing with $700+ million on the line.
You've clearly never been to Chicopee, MA. They tend to have a very, very low opinion of anyone who is educated beyond HS dropout.
100% there is stuff on the line. Tax issues (not on the initial win - those taxes are gone). Estate and probate planning. Setting up trusts and foundations to protect you from friends, family, and yourself. The most important is asset protection and liability insurance. If you just won 700 million, you're probably about to get sued by every person you've ever wronged or who thinks they can claim they've been wronged. If you wait until you have the money in hand and claims are filed, it is far more difficult to protect it from those creditors. I've never dealt with it, but I'd also think it would be significantly harder to get effective umbrella coverage if you wait until a dozen suits are filed. You set all this up before anyone knows your name.
Showing up and saying you won doesn't mean they just deposit the funds in your bank account. I'm sure they called someone to get shit set up
You acknowledged publicly you have the right to it and it is coming. That's when people start coming out of the woodwork for it. Not once it hits your bank account. And you don't set all that stuff up in a morning. Proper planning and execution will take a ton of time. Fuck load more time than 12 hours.
it takes two weeks or so to get the cash. The 40ish participating states have to send their share. So, word is out that she's getting that. It's unlikely that she has already set up a shield. /end quote of arkadin reply It's just not a smart move at all. Even if she's taking the annuity, she has to have a financial planner help set up accounts that are insured. She can't just shove that shit in the local BoA and hope that it's all good because it's not. Managing that would be a nightmare (for the winner due to the grief in keeping that principle safe). You need people you can trust, and there's no way she has anyone like that. If she goes to goldman or somewhere, they're gonna have a field day ripping her off.
You guys really make it sound like winning 400 million dollars is a real hassle. I'm glad I didn't win.
Do you have to have your name known? Last thing I'm doing is having a press conference Have a handful of shitbag cousins
So what's the play? Is there anyway to anonymously cash the ticket? If not, I would be a wreck sitting on that thing while trying to figure out my attorney/advisor/etc situation.
This. Set up a trust and have a trustee claim it. Then I'd take the annuity. It'd be around $15mm/year after tax. I'd by a Ferrari and condos in Vegas and South Beach. Head to Monte Carlo. Rome. Etc I'd then payoff the mortgage of everyone I love by having some fake documents showing that this expensive piece of property I purchased with the lotto funds was left to the 4 gen grandson (me). Give my coworkers about $50k each. Buy floor seats to the Warriors for the season. I'd also buy office space in Atlanta and claim that I do commercial real estate. On day 364, I'd wake up, be broke, and be glad I took the annuity. Round 2 starts tomorrow.
Not if you have annuitized the policy. When you annuitize it, it is an absolute assignment to the insurance company. Technically you could sell it to one of those JG Wentworth companies, but you could do that with the lotto annuity as well.
A bit of a loaded question, but between the internal rate of return and the mortality credits, an individually bought Single Premium Immediate Annuity would have a better payout and you could get your checks monthly.
“The power of positive thinking should not be underestimated!” he tweeted Friday. Missler claimed he wasn’t shocked by his big win — as he had “a feeling” he just might hit the jackpot, lottery officials said. But he still expressed his disbelief in a Facebook post minutes after the Jan. 5 drawing.