Mega Millions: Lump Sum or Annual Payout?

Typical El Presidente Random Thoughts type stuff

Postby midd » Wed Jan 05, 2011 5:55 pm

Anonymity would be the goal, not any sort of tax shelter/avoidance. Always surprised how many people voluntarily advertise themselves as newly minted millionaires. They deserve the deadbeats knocking on their door.
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Postby lugnutz » Wed Jan 05, 2011 5:57 pm

Image




Smithers!!! Release the hounds!
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Postby rearadmiral » Wed Jan 05, 2011 6:08 pm

midd wrote:Anonymity would be the goal, not any sort of tax shelter/avoidance. Always surprised how many people voluntarily advertise themselves as newly minted millionaires. They deserve the deadbeats knocking on their door.


Not sure how voluntary it is. Basically, if you don't set up a trust, MA has to put your name out there. I believe the fine print tells you that.

But yeah, fuck the press conference.
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Postby Brian » Wed Jan 05, 2011 6:32 pm

Your best bet for anonymity is to wear a shirt and hat that says "The Lottery is a scam". They are still required to pay anyone holding a winning ticket, but you can be sure they won't take any photos of you wearing that shirt at the outfit (and the hat is to make sure they don't cover up your shirt with a giant novelty check)
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Postby rearadmiral » Wed Jan 05, 2011 9:28 pm

midd wrote:For the law talking types, could you set up an LLC or trust entity as the "winner" of the lotto? Or does an individual have to win?

If the former, it'd be a decent way to begin to shield yourself from the unwashed.

As for first purchases, I'm with RA. House on the 16th of the plantation course m


Golf Channel at Hawaii right now.
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Postby Giggles » Thu Jan 06, 2011 7:28 pm

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Re: Mega Millions: Lump Sum or Annual Payout?

Postby Mr. X » Thu Jan 06, 2011 9:28 pm

rearadmiral wrote:Annual.

Why the fuck would you leave all that money on the table? To the gov't, no less.


lump sum.

1.) Always better to take money now than later
2.) Inflation
3.) You can take that and invest it to make way more money. Tax free muni bonds.
The Orangemen are just a rock-solid, consistent winner that hasn't suffered a losing season since 1968-69.
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Re: Mega Millions: Lump Sum or Annual Payout?

Postby BS1 » Sun Feb 20, 2011 10:40 pm

Power Ball is 155 million on Wednesday


No one on this board has a chance to win it.....none, nada, zilch
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Re: Mega Millions: Lump Sum or Annual Payout?

Postby rearadmiral » Wed May 18, 2011 8:59 pm

“You’ve been waiting for it for a long time, but you got it. You wanted it, you got it. We’re bringing it home.’’
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Re: Mega Millions: Lump Sum or Annual Payout?

Postby jtk4 » Wed May 18, 2011 9:17 pm

Well if it makes anyone feel any better the federal taxes he paid on the 2 mill more then cover the food he is getting. Hope he does not choke on any of that food.
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Re: Mega Millions: Lump Sum or Annual Payout?

Postby BS1 » Mon Feb 13, 2012 8:59 am

im still debating on checking my power ball tix from Saturday....or if I should just continue dreaming about all the money. Winning tix was purchased in RI.....I still have a chance!
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Re: Mega Millions: Lump Sum or Annual Payout?

Postby BS1 » Mon Feb 13, 2012 12:48 pm

sigh.....chance gone....still in the po house
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Re: Mega Millions: Lump Sum or Annual Payout?

Postby lugnutz » Mon Feb 13, 2012 12:59 pm

Yeah i have to check mine still for some small prize......but I was really counting on the win! lol
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Re: Mega Millions: Lump Sum or Annual Payout?

Postby BS1 » Mon Feb 13, 2012 1:00 pm

I shoulda just kept dreaming....it was more fun.

I mean RI is the smallest state. I thought for sure i bought the winner 8)
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Re: Mega Millions: Lump Sum or Annual Payout?

Postby lugnutz » Mon Feb 13, 2012 1:02 pm

I have no idea what I am going to do when my new Jets balloon payment is due in May!
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