20 Year old wins $450 million dollar mega millions lottery

[R.E.N. Spells Ren]

he shouldn't take the lump sum tho.

take the yearly payments, that's because of the year you get the chance to see how you are handling the money.. are you giving it to leeches, bad investors/financial advisors or spending it on tigers and monkeys...

it will give you a sense of i really need to see where i'm throwing my money at

From a purely financial standpoint it's always better to take the lump sum since the lump sum is the actual cash they have collected for the jackpot since the last time someone hit. With the annuity, it's the amount they are willing to guarantee you they can pay over that 30 year period by placing that pot of cash in an investment vehicle. If they're willing to guarantee a payout of $450M over 30 years, surely you can beat that using another private equity firm, easily.

However, given his age and likely ignorance about money, he'd almost certainly be better off with the annuity. That way he can adjust to his newfound wealth, make his mistakes, and still get an 8 figure check every year to balance things off.

Personally, tho, I'm always taking the lump sum.

You can also use Usamega to figure out what your state will take out.

Mega Millions Jackpot for Fri, Jan 5, 2018
$451,000,000
$281,900,000
Florida: No State Tax on Lottery Prizes!
Your average net per year: $11,275,000 Your net payout: $211,425,000
After 30 payments: $338,250,000
Mega Millions Jackpot Analysis | USA Mega
Powerball Jackpot Analysis | USA Mega

One thing to note is that no one can predict what tax rates will be in the future. If they raise the taxes on high income earners in year 10, then those checks, and his net payout will be less than the figures listed there.

 

[BreezyH]

Hopefully he knew who his real circle was the day before he won

 

[IsThatBrothaMouzone?]

From a purely financial standpoint it's always better to take the lump sum since the lump sum is the actual cash they have collected for the jackpot since the last time someone hit. With the annuity, it's the amount they are willing to guarantee you they can pay over that 30 year period by placing that pot of cash in an investment vehicle. If they're willing to guarantee a payout of $450M over 30 years, surely you can beat that using another private equity firm, easily.

However, given his age and likely ignorance about money, he'd almost certainly be better off with the annuity. That way he can adjust to his newfound wealth, make his mistakes, and still get an 8 figure check every year to balance things off.

Personally, tho, I'm always taking the lump sum.



One thing to note is that no one can predict what tax rates will be in the future. If they raise the taxes on high income earners in year 10, then those checks, and his net payout will be less than the figures listed there.

Bingo. One in the hand is worth two in the bush.

All you gotta do is sit on the money and figure out how to invest. Low risk investment vehicles and keep it simple with that kind of cash. Good lawyer can set up the trusts. An accountant can help with taxes. He just has to avoid letting others try to control his money. Don't sign anything lol.

 

[Reece]

I'd be scared to win that kinda money real talk.

nikkas think it's a joke but, I would smooth move to another continent.

 

[joeychizzle]

I'd blow 1 mill on a crazy ass vacation, buy a couple apartments for myself, buy 1 each for grandparents and immediate family, buy franchises and real estate, and keep half in the bank.

Or a year long hooker binge :dayumxdayummayne:

 

[Htrb-nvr-blk-&-ug-as-evr]

20yr Old craka from Florida with $221M? All I’m picturing is a yard full of ATVs, jet skis, lifted 4x4s and an above ground pool in front of a 6,000sq foot quadruple-wide...

 

[PaperEnterprise]

moms will get the pipe

You aint read the article did you?

 

[King Frost]

In FL you can claim in a trust or LLC. If you claim in the trust, the trustees will show up at the press conference, collect the big azz novelty check and take photos. You can even avoid the press conference all together if you want. He could've had his lawyers scrub his social media before collecting, he had 180 days to collect. He could've had all the privacy he wanted, he just wanted to collect asap.

do black people ever win the lottery?
legit question, cause i don't know.

black people win all time, marie holmes is the most famous recently. Old grandma won in fl couple yrs back

Wow. I wonder how they let this happen. Maybe he was concerned if he wasn't the administrator it could allow someone at the law firm to steal his money?.

If he had a trust, the money can't be stolen. The law firm would face a huge malpractice suit, also he would hire a top 5 firm who would have individuals & companies worth billions.

 

[DatLBCGuy562]

I follow this CAC on Instagram. He was at the Super Bowl yesterday with his boys living it up. b*stard out there spending all my millions

 

[lotteryplaya]

I follow this CAC on Instagram. He was at the Super Bowl yesterday with his boys living it up. b*stard out there spending all my millions

His team lost but he doesn't care he is still rich. He believes in that LOA book The Secret.

He had great seats.















A lot of people are hoping to win the lottery sometime before the Atlanta Superbowl next year so they can buy a suite and ball out at the game and all week in the city.