20 yo won the mega millions jackpot

[Magic33]

People are talking about I hope he doesn't blow it. How do you blow $280 million dollars?

I hope he doesn't kill himself in a new Ferrari or on drugs

 

[ninjahood]

You keep dodging questions about the 401k

em i putting my entire check in my 401k? no..

taking a lump sum is stupid.

http://www.afterlotto.com/lottery-tax-calculator

there's a site that calculates it.

 

[dtothedtotheo]

280 million
Become a private money lender for investors
2-3 points to borrow
8-12 percent interest
Lend at 70-75 percent of the value of the property / deal is worth to have security blanket Incase if default. Only lend in first lien position to ensure you are in the safest position just in case
401k can not touch these returns

 

[ninjahood]

http://money.cnn.com/2018/01/12/news/florida-mega-millions-jackpot-winner/index.html

State lottery officials said Friday that Shane Missler of Port Richey, a Tampa suburb, came forward to claim the $450 million Mega Millions grand prize, which he won in a drawing one week ago.

im not throwing away

$125,718,750

to get it all in one silly lump sum.

/thread.

 

[dtothedtotheo]

Curious what happens if you pass away?

http://money.cnn.com/2018/01/12/news/florida-mega-millions-jackpot-winner/index.html

/thread.

 

[Peep Game]

The lump some option

 

[MVP]

He can easily make up that 120 million difference with proper management and it won't take him 30 years to get it either.

 

[dirty]

Yall real life aruging about payments vs lumpsump get over it yall didnt win

 

[MVP]

I think there's misinformation going on here and some people don't want to concede their wrong. If you're stupid enough to blow 200 mil, you're likely stupid enough to blow 5, 8, 12, 20 etc.

 

[ninjahood]

Curious what happens if you pass away?

you can pass it to a heir.

The lump some option

idiots i tell you...i dont care how much money i win and how rich i get...ill never be rich enough to feel like i could throw away THAT much money...buggin.

 

[dirty]

Is there anyway to go around taxes??? Id run off on the plug if they give me the chance

 

[DYNAMICS]

Does it HAVE to be announced to the public? I wouldn't want a soul to know

Yeah I never liked this. In the U.S. I believe it depends on state laws.

A friend of mine works at the Lottery Gaming Corporation HQ here in Toronto. So for our province/state (Ontario), if you win a huge lottery you have to bring your winning ticket to HQs to get the process started in getting your money. Here, you can choose to not have it publicized in the media (TV news, newspapers etc) BUT it has to be posted on the LGC's main website. So you could get away with people not knowing about your winnings here. People usually don't check the site.

Aside from his regular work duties my friend is the guy that hands over that big winning cheque.

 

[Bert.]

People are talking about I hope he doesn't blow it. How do you blow $280 million dollars?

I hope he doesn't kill himself in a new Ferrari or on drugs

It’s possible, watch american greed. A guy blew through 50 million dollars in less than 6 months buying dumb ****

 

[wallyhopp]

http://money.cnn.com/2018/01/12/news/florida-mega-millions-jackpot-winner/index.html

im not throwing away

$125,718,750

to get it all in one silly lump sum.

/thread.

But investing is so easy? Lol.

The only time you get the same return as what the lottery guarantees is if you put a nice chunk away and never touch it for 10-20 years, which is pretty much what the lottery annuity is doing for you anyway.

Self restraint is much harder. I got lucky at the casino in my younger days and blew hundreds like nothing. I imagine this situation the same by amplified

 

[wallyhopp]

He can easily make up that 120 million difference with proper management and it won't take him 30 years to get it either.

I know millionaires who do okay but I guess we're talking 2 mil turning into 3-4 over a 10 year time frame playing it safe.

Ive advocated doing your own investments for years if you win the lottery but anymore. I just don't know where you would begin to try to almost double your money from the onset. Putting away 20 mil for 20 yrs isn't too feasible for many new winners.

So many athlete millionaires end up needing to work again in 20 years. They also had it easy to just 'invest and forget'. I don't think most of them do it though. I know some who put some away for long term but quite a few have them active in mutual funds and stocks ( which can do good or bad). Everyone believes they are the master of their own domain. I'd probably take 40 mill of the lump sum and try to make my money back. It would probably stress me out for 5 years. Vs. just traveling and living within a fitted income situation.

Does anyone have the numbers. Who's the last annuity winner? I swear 99% take lump sum

 

[MVP]

I know millionaires who do okay but I guess we're talking 2 mil turning into 3-4 over a 10 year time frame playing it safe.

Ive advocated doing your own investments for years if you win the lottery but anymore. I just don't know where you would begin to try to almost double your money from the onset. Putting away 20 mil for 20 yrs isn't too feasible for many new winners.

So many athlete millionaires end up needing to work again in 20 years. They also had it easy to just 'invest and forget'. I don't think most of them do it though. I know some who put some away for long term but quite a few have them active in mutual funds and stocks ( which can do good or bad). Everyone believes they are the master of their own domain. I'd probably take 40 mill of the lump sum and try to make my money back. It would probably stress me out for 5 years. Vs. just traveling and living within a fitted income situation.

Does anyone have the numbers. Who's the last annuity winner? I swear 99% take lump sum

Education in money management is essential in general. Most of the people who play the lottery and win the lottery are poor people who just don't have any idea how to manage that sum of money. I don't think it honestly matters whether it's a lump sum or payments. Usually it's been older people as well winning these big jackpots.

 

[boris]

em i putting my entire check in my 401k? no..

Seriously? That wasn't the question. I'll post again since you're having a hard time answering.

You keep dodging questions about the 401k. Why do you put money into it? What do you think the point of a 401k is? Why do you think people try to maximize their contributions, especially while they're young?

 

[wallyhopp]

Education in money management is essential in general. Most of the people who play the lottery and win the lottery are poor people who just don't have any idea how to manage that sum of money. I don't think it honestly matters whether it's a lump sum or payments. Usually it's been older people as well winning these big jackpots.

I remember seeing a dude from an online article from the gulf coast who won the million dollar jackpot on a $1 wheel of fortune slot. He was back there the next day playing the same machine.

Those machines are intrinsically tied to one another worldwide to where the main jackpot always goes up. Dude didn't care. Dude was a 1 in 309 million winner.

90% of big winners at casinos (I'm really only talking $500+) are barely visibly happy.

I know some scratcher winners who hit $500-$1000 on a $1 ( which would equate to a 1 in a million chance to win ) but they aren't happy.

I feel most winners feel they can double their money gambling again and again. It's why and how I wonder how all of this remians legal. These people are mentally sick.

 

[ninjahood]

Seriously? That wasn't the question. I'll post again since you're having a hard time answering.

i posted da lotto calculator link b....i ain't throwing away that much money...sorry, not sorry.

 

[MVP]

I remember seeing a dude from an online article from the gulf coast who won the million dollar jackpot on a $1 wheel of fortune slot. He was back there the next day playing the same machine.

Those machines are intrinsically tied to one another worldwide to where the main jackpot always goes up. Dude didn't care. Dude was a 1 in 309 million winner.

90% of big winners at casinos (I'm really only talking $500+) are barely visibly happy.

I know some scratcher winners who hit $500-$1000 on a $1 ( which would equate to a 1 in a million chance to win ) but they aren't happy.

I feel most winners feel they can double their money gambling again and again. It's why and how I wonder all of this remians legal. These people are mentally sick.

Gambling addiction is real, I've seen it far too many times in Vegas, people just don't know when to quit.

 

[MVP]

Seriously? That wasn't the question. I'll post again since you're having a hard time answering.

The next time Ninja answers a direct question will be the first time, you outta luck homie.

 

[ahat]

Knew a fiend that hit 10k off a $1 scratch off

 

[boris]

i posted da lotto calculator link b....i ain't throwing away that much money...sorry, not sorry.

Way to dodge again. It's a good idea for you not to answer though because you either have to admit you know nothing or that you're wrong.

 

[beacon ave south]

Way to dodge again. It's a good idea for you not to answer though because you either have to admit you know nothing or that you're wrong.

The way that boy talks out of his ***, you would think he just shot a scene with Shane Diesel.

 

[ninjahood]

Way to dodge again. It's a good idea for you not to answer though because you either have to admit you know nothing or that you're wrong.

you're da one dodging da fact that you're losing over 100 million by taking da lump sum, and being obtuse over a irelevent point.

hello, you can invest for one year with w/e they give you in your annuity, and STILL get your guaranteed money for 29 more years...