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How not to squander the $800 million Powerball jackpot
WaPo ^ | 01-08-2016 | Jonnelle Marte

Posted on 01/08/2016 12:51:41 PM PST by NRx

click here to read article


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To: CatherineofAragon

Make that -46- honorifics ;)


181 posted on 01/08/2016 5:43:42 PM PST by Norm Lenhart (Existential Cage Theory - An idea whose time has come)
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To: Norm Lenhart; CatherineofAragon
I still don't have my Gurkha.


182 posted on 01/08/2016 5:47:02 PM PST by Lazamataz (If the Oregon occupiers are occupying a National Wildlife REFUGE, are they not now REFUGEES?)
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To: NRx

With $800 million you first spend $50 million to hire the best combat generals and staff. Then you spend $300 million to hire 50 divisions of combat troops.

Next, pick a banana republic, overthrow it and name yourself “Big Friggin’ Cheese No. 1.”

Live happily ever after, with money left over.


183 posted on 01/08/2016 5:50:49 PM PST by sergeantdave ( If not you, who? If not now, when?)
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To: Lazamataz

In my Off-Road.com days we covered the Moab event a few times. Watched one of these climb a damn near vertical wall on the Helldorado trail. No joke. Unimogs are just incredible.

https://en.wikipedia.org/wiki/Unimog


184 posted on 01/08/2016 5:51:43 PM PST by Norm Lenhart (Existential Cage Theory - An idea whose time has come)
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To: Tijeras_Slim
There’s a handful of states that allow you to remain anonymous, about 6 I think.

Delaware, Kansas, Maryland, North Dakota, Ohio, South Carolina

185 posted on 01/08/2016 5:59:05 PM PST by WeatherGuy
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To: NRx

So wait...$800 million nets you maybe $350 million after taxes? $450 million is the government’s share for you winning??!!


186 posted on 01/08/2016 6:04:39 PM PST by jughandle (Big words anger me, keep talking.)
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To: NRx
Here's a 'rough' state by state Powerball analysis Powerball Jackpot Analysis https://www.usamega.com/powerball-jackpot.asp

187 posted on 01/08/2016 6:05:17 PM PST by Stand Watch Listen (Was addicted to the Hokey Pokey...but I turned myself around...((@))
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To: minnesota_bound

LOL! I’ll go with a big smile on my face.


188 posted on 01/08/2016 6:08:21 PM PST by pallis
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To: jughandle

Yes, that is sort of correct.

If you get it in one lump sum, that jackpot is reduced to something less than half (IIRC), then taxed (federal and state, if any).

Annual payouts are taxed year by year and paid out over 35 years, I think.


189 posted on 01/08/2016 6:18:23 PM PST by hoagy62 (Timid Men prefer the 'Calm of Despotism' to the 'Tempestuous Sea of Liberty'. ~ T. Jefferson)
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To: jughandle

I just checked and I was slightly incorrect.

The one lump sum is reduced to slightly MORE than half, then taxed at 25% federal taxes. An $800M jackpot, lump-summed and after fed taxes, would be $372M.

In my state (WA), there are NO state taxes on lottery winnings!


190 posted on 01/08/2016 6:25:23 PM PST by hoagy62 (Timid Men prefer the 'Calm of Despotism' to the 'Tempestuous Sea of Liberty'. ~ T. Jefferson)
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To: hoagy62

*Withholding* is 25%. Actual Fed tax rate is likely to be 39.6% or whatever the max rate is now.


191 posted on 01/08/2016 6:31:12 PM PST by jjotto ("Ya could look it up!")
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To: DugwayDuke

That’s interesting information. It’s pretty much what I’d do, except the dog is driving to the lottery headquarters with me- not leaving her to deal with doorbells and knocking on the door.

Definitely have new phone, email, and post office box ready. Lawyer and financial advisor who’s dealt with lottery winners. Accounts ready and open for incoming. Reservations made at an undisclosed location to go to immediately and a getaway plan in place after leaving the lottopalooza.

There’s a lot of pre planning necessary if you’ve got any sense.


192 posted on 01/08/2016 6:31:54 PM PST by SE Mom (Proud mom of an Iraq war combat vet)
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To: Lazamataz; Marcella

Talk to Marcella! She’s the one who’s going to win by force.


193 posted on 01/08/2016 6:49:14 PM PST by CatherineofAragon ("Ted Cruz is the type of guy to swim across a moat with a knife in his teeth. He knows how to fight")
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To: bgill

Me too. At my age I could squander it everyday and not spend it all. That’s a lot of money. Everyone keeps talking about investing it. Me? I’d have the time of my life. 😂


194 posted on 01/08/2016 7:57:34 PM PST by sheana
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To: mad_as_he$$

The ticket must have the name or names of all the winners listed and signed. Then those are the people who get paid


195 posted on 01/08/2016 8:51:18 PM PST by shotgun
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To: Ouderkirk
You mean like avoiding casino’s, hookers, and drugs?

And third cousins twice removed that you've never heard of...

196 posted on 01/08/2016 8:53:18 PM PST by NorthMountain ("The time has come", the Walrus said, "to talk of many things")
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To: bgill

I won a bunch of money one time. Spent most of it on women, drinking and gambling. The rest I squandered.


197 posted on 01/08/2016 8:57:28 PM PST by 21twelve (http://www.freerepublic.com/focus/f-news/2185147/posts It is happening again.)
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To: NRx

Step One, learn how to say NO.

That being said, I’m 62 and I have been afflicted with Leukemia for almost ten years.

I would spend the rest of my days giving away all the money.

My Oncologist will be the first guy I visit with a Check. If not for him, I wouldn’t be alive to buy the Ticket.

This Website would never need another FReepathon EVA!

Well, it’s fun to dream. LOL


198 posted on 01/08/2016 9:02:37 PM PST by Kickass Conservative (Obama, unable to call a Spade a Spade...)
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To: DugwayDuke

“I really love where I live but I will tell you that my house will be for sale if I win $350M.”

And then move back “home” after awhile. I wonder if there is some sort of time limit involved - that you might have to wait some amount of time before claiming the new state as your “residence.”

Unless you of course are an illegal from Mexico. Then where ever you are is home. And it would be rude to inquire.


199 posted on 01/08/2016 9:06:52 PM PST by 21twelve (http://www.freerepublic.com/focus/f-news/2185147/posts It is happening again.)
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To: shotgun

Interesting. Thanks.


200 posted on 01/09/2016 3:34:22 AM PST by mad_as_he$$
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