Posted on 01/08/2016 12:51:41 PM PST by NRx
Evidence shows that most people who make it to the top 1 percent of income earners usually don't stay at the top for very long.
But the person who wins the $800 million Powerball jackpot during Saturday night's drawing, assuming one person wins the entire pot, will have such a large pile of cash that they can create a steady cash flow of millions of dollars a year without taking much risk.
"With this amount of money there's really no reason to be overly aggressive," said Jeffrey Carbone, managing partner and founding member of Cornerstone Financial Partners in Charlotte. "Lottery winners unfortunately try to get richer but now it's really about maintaining your wealth."
For someone taking the lump-sum, the prize would amount to an estimated $372 million after federal taxes, according to the website USAMega.com. After state taxes, that pot would be reduced to about $350 million -- though it could be more or less, depending on the state. (Ten states, along with Puerto Rico and the U.S. Virgin Islands, don't charge any state taxes on lottery winnings, according to USAMega.com.)
After investing that $350 million in a conservative portfolio that earns an average of 3 percent a year, the move could generate a steady cash flow of about $10.5 million a year. (And that's without spending down any of the actual prize money.) For the typical worker, that would be enough money to cover the bills, buy a nice car, offer some financial support to family and friends, and still indulge in some nice meals and a few vacations.
(Excerpt) Read more at washingtonpost.com ...
The new stuff is nice and faster and quicker but There’s no sound better than an oldschool V8 camming it’s ass off.
Except maybe a 351 Cleveland at over 7 grand ;)
LOL. Someone should figure out how long it would take for the winner to go broke reinvesting the lottery winnings.
Or in other words:
NORM FALLS OFF THE EARTH NEVER TO BE SEEN AGAIN.
And dies happy.
DRAGONSHOUT!!!!
((((boooommmm))))
And really, is there any other kind of dying when an insatable Lydiabot is involved?
I THINK NOT!!! ;)
(Wait...800 mil would buy more than 5 Japanese engineers...)
Don't you worry. I would snatch that ticket as it gently fell, like a feather out of your hand, to the earth.
You would have a fantastic funeral, with fireworks and dancing girls!
Except the bank. You have to open about 1600 bank accounts. FDIC only allows 250k for insurance.
None of this Fus-Roh-Dah stuff.
Ahem...ALL-FOR-MEEEEE!!!!!
But once the engineers finish my army of Lydia Sexbots I will be sure to begin work on the models of your choice.
I am afterall Volarian Lionheart - Hero of the people (and 45 other honorifics and I bring ...er...things to those without. Sorta like a Nord Santa Claus...with stripper chicks and buff dude-bots.
My own SUV! I love you. And I’m seriously looking forward to it because I know that you’re going to win. You’ll grab Fate, wrest him to the ground, and throat punch him until he gives up that winning number.
I need some new Justin boots! Would you believe I have two pairs? Black and red. It’s my second black pair...I wore the others out. Maybe this time I can get a fancy pair.
Since you’re going to win, there’s no point in me making any plans, but I can dream.
IF I won, I’d throw a big party for FR Cruz supporters...maybe wait until he wins the nomination and have it then. I’d fly you guys in here and we’d have a ball. I know Laz is a Trump guy, but he would have to come,too, because we love him and he’s a sweetheart no matter who he supports, and I know he likes Cruz, anyway.
Hell, Cruz can come. And Norman Reedus. Make it a REAL party.
You are just so sweet Laz. I knew I could count on you. ; )
“I know Laz is a Trump guy, but he would have to come,too, “
Sure. Takes care of the dinner menu. Throw some garnish on him and we’ll be good to go. Being the devl’s children and all It’s appropriate for us to engage in a little human sacrifice ;)
What IS that? Can you really buy it?
I guess we know who to look for when the ZA happens,lol...everybody will be piling into Laz’s tank.
*stepping carefully back out of the way*
Choose your weapons!
My dad tells me, “if you’re under 50, take it over time...if you’re over 50, lump sum”.
Sadly, I live in one of those states where you can’t remain anonymous. I’m not sure how one could pull off ‘disappearing’ after a huge lottery win if you’re required to be identified.
YOU are a gentleman.
Well we HAVE to live up to our reps as Cruzers don’t we?
“Sadly, I live in one of those states where you can’t remain anonymous. I’m not sure how one could pull off ‘disappearing’ after a huge lottery win if you’re required to be identified.”
So, why would you not want to move? $350M, you can move your parents too.
I really love where I live but I will tell you that my house will be for sale if I win $350M.
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