If you win the mega millions, why wouldn't you take the payments option?

[HTXBreh]

makes sense.. a loan is not considered income so they don’t have to pay tax on it..

Say your 26 annual payments on 400 mill winning is 20 mill a year.. you take out a loan for say 400 mill for a total of 25 years.. the interest paid alone is going to lower your tax liability on that 20 mill of income you making a year where you will be taking home about 17 mill a year and paying 3 mill in taxes

if you right that's dope way to fukk the system and build credit which you obviously no longer need

 

[MR. SNIFLES]

THE PAYMENT OPTION IS 100% SAFETY BUT YOU WON'T MAKE ANYWHERE NEAR THE SAME GROWTH OVER THAT 20 YEARS.

 

[ThrobbingHood]

wealthy people have been doing it. That’s where the concept of using “other people’s money” came from. You can take a million and leverage that mil to get 5-10 in loans and lines of credit.

True. Pretty much hedge fund management in a nutshell.

 

[SuaveyBoi115]

It’s my money and I need it now!!!!!!!!!!!!!!!!

 

[Umoja]

Dollar in my hand today is worth than a dollar in my hand tomorrow.

There's nothing stopping you from investing your money and living off saving interests and dividends.

 

[jackswstd]

If I remember correctly, if you die your fam doesn’t get the money.

 

[CoryMack]

THE PAYMENT OPTION IS 100% SAFETY BUT YOU WON'T MAKE ANYWHERE NEAR THE SAME GROWTH OVER THAT 20 YEARS.

man the first thing most people would do is go out and find the “best” financial planners and accountants and be broke within five years. those are the people that specialize in stealing millions from ignorant athletes and entertainers. a huge megawin I’d most likely take the payments. at least if I fukk it up one year I know I have next year and the year after.

 

[BigMoneyGrip]

if you right that's dope way to fukk the system and build credit which you obviously no longer need

How you think Trump don’t pay no taxes? His income is literally loans that he never pays back

 

[NaijaProdigy Redux]

Time Value of Money.

There's also no guarantee the Lottery won't be suspended / ended

Also, if you're paranoid about the amount, just put a defined sum in a trust you can't touch until a certain age

 

[Umoja]

man the first thing most people would do is go out and find the “best” financial planners and accountants and be broke within five years. those are the people that specialize in stealing millions from ignorant athletes and entertainers. a huge megawin I’d most likely take the payments. at least if I fukk it up one year I know I have next year and the year after.

With 400,000,000 what is preventing you from learning what you need to know manage finance?

 

[ORDER_66]

If you die the payments stop... just give me the lump sum I'll invest it myself....

 

[R.E.N. Spells Ren]

When the Mega Millions jackpot is advertised as $130M with a $88M lump sum, they only have $88M on hand to give you (using current jackpot numbers)

If you choose the lump sum, they just give you the cash they had on hand for the jackpot (withholding some for taxes of course).

If you take the annuity, they put that $88M that they have on hand into an investment vehicle where they are GUARANTEEING a rate of return that will pay you 30 annual payments totaling $130M. If they’re willing to guarantee those returns, I’m sure I could beat them. Plus, since the annuity payments increase by 5% each year (to ensure the winner can keep up with inflation), that first payment isn’t 1/30th of that $130M which would be $4.33M, it’s actually less than $2M (and then taxes are withheld on that).

I’m good with money, and have always been a good learner, so I have no doubt that I’d be better off with the lump sum. Studies have shown that most people would be better off with the annuity, however.

 

[Hijo de luna]

Let WS hold your money brehs

 

[CoryMack]

With 400,000,000 what is preventing you from learning what you need to know manage finance?

nothing preventing me from learning, but i wouldn't wanna fukk it up either.

When the Mega Millions jackpot is advertised as $130M with a $88M lump sum, they only have $88M on hand to give you (using current jackpot numbers)

If you choose the lump sum, they just give you the cash they had on hand for the jackpot (withholding some for taxes of course).

If you take the annuity, they put that $88M that they have on hand into an investment vehicle where they are GUARANTEEING a rate of return that will pay you 30 annual payments totaling $130M. If they’re willing to guarantee those returns, I’m sure I could beat them. Plus, since the annuity payments increase by 5% each year (to ensure the winner can keep up with inflation), that first payment isn’t 1/30th of that $130M which would be $4.33M, it’s actually less than $2M (and then taxes are withheld on that).

I’m good with money, and have always been a good learner, so I have no doubt that I’d be better off with the lump sum. Studies have shown that most people would be better off with the annuity, however.

and that's my point. most of the people in here talking would be broke very soon. i'm sure there are some people here who could handle that kinda money, but the reality is most people would be down at Goldstein Financials thinking they're getting advised by "the best," getting talked into some exotic "high return" investments they have no clue about and would be confused as hell watching big chunks of that lump sum disappear.

 

[Easy-E]

Two weeks


The instant the check clears, I'm C walking out that bytch, telling everyone I don't fukk with how many dikks to eat.

I still need my name clean if I blow it all