[Graybeard58]

$190 mil? What a lie. If they took the lump sum it was $80 mil. - pre tax.

At age 68, he’d better take the lump sum, the other option is 26 annual payments, he’d be 94 when he received his last payment, if he made it that long.

$80 mil is a chunk of pre tax money but it sure as heck is not $190 mil.

[cherry]

this guy has been retired from Boeing for 20 yrs....that means he has already been on the gravy train since age 48....

why can't a working stiff for once win the big money?...you know...someone working in a factory, or on construction, with 4-5 kids?

[Logic n' Reason]

$190 mil? What a lie. If they took the lump sum it was $80 mil. - pre tax.

Oh HEAVENS!!! How ever in the world are a 69 year old man and his wife ever ever ever going to make it on a lousy $80,000,000 for the rest of their miserable lives???

And all this hell on earth because of a crumy $2 lottery ticket!!!

OH woe is them!

Oh the humanity!

Greybeard...me thinks thou art pissing into the wind on this one!

[ErnBatavia]

I read yesterday that the 80+ million is after 25% federal tax, and that there won’t be WA state tax.

[kevkrom]

$190 mil? What a lie. If they took the lump sum it was $80 mil. - pre tax. At age 68, he’d better take the lump sum, the other option is 26 annual payments, he’d be 94 when he received his last payment, if he made it that long. $80 mil is a chunk of pre tax money but it sure as heck is not $190 mil.

In general you're correct, but I think your numbers are off. The lump sum for Mega Millions is well over 50% of the annuity value. I've run the numbers before, using the top tax rates, and I estimate that the cash option for Mega Millions is about 40% of the "jackpot" value, after taxes. (Powerball has a lower cash payout, and works out closer to 1/3.)

That's using my Maryland income tax rates, which is about 7.5% state and county combined.