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I don't need to call the lottery office to ask that or if the sky is blue. Any business entity would bend over backwards for a legitimate 9-figure revenue through a single transaction. That includes the lottery commission.
If you think it would destroy the game if anyone did that, no way. Buying lottery tickets doesn't edge out anyone else from winning. And as an added bonus, we could laugh as that "investor" has to split their winnings and lose big.
The house always wins. Always.
The lottery machine cannot produce every combination on demand. The person needs to fill out the wager slip for all the combinations they want to play.
1: Agreed. Sign and date ticket, take selfie/photo with my face and another personal item in picture for proof front and back. Put ticket immediately into bank safety deposit box. Hire a private security/limo transport car service to transport me and the ticket to the state lotto office for claiming.
2: Trust is good. Though I'm not too keen on blind trusts...I want to know and control exactly how my money is spent. Blind trusts are if you're really really bad with money or leaving millions to kids
3: I think this is a fair option. Too many immediately take lump sum. Powerball annuity goes up by 4% each year to keep up with inflation...besides you can still invest the annuity payments obviously....
4: Yup
5/6/7: I don't got kids....so I'll likely upgrade lifestyle obviously...I like my current work actually so I'll keep working but maybe cut back to part time like 1-2 days a week....then travel the world, donate to charities, and do all kinds of cool things.
As I understand it, a blind trust would protect my privacy, which would be my first priority. Otherwise, my name would become public, and that kind of money is likely to bring out all sorts of crazy people who might threaten my family's safety. I would not wish to subject any of my loved ones to that kind of stress. Keeping my name private would also allow me to disappear and live a quiet life out of the spotlight. I know where I would go, and it would be easy to blend in. The community is wealthy but not ostentatious, and I could live very comfortably there with plenty left over to give generously to causes I value.
I would take the annuity because it's more than sufficient to fund my wildest dreams, and I'm young enough that it's likely I'll be around long enough to see the full thirty years of pay outs. And if I die in ten years? So what? At a certain point the quantity of money becomes ridiculous, and I think a billion-plus dollars more than qualifiies. I have no desire to be able to buy a small country.
Last edited by randomparent; 01-12-2016 at 09:48 PM..
and tell my family I won and expect to either move overseas or deal with crazy folks who feel it is their god given right to demand/beg money for their sick kid(s) whilst attempting to guilt trip me and them.
cash it and then move overseas and go mia, jumping country to country periodically until people forget who won it.
What if you take the lump sum now and in a few years the top tax rate drops? If you took the annuity, you would end up with more after taxes, not to mention the higher amount to start with. Of course the top tax rate could go up, too. But it is fairly high now, and if a Republican wins in November, especially if Trump wins, they might very well lower it.
Personally, I would take the annuity as long as my heirs can continue receiving it if I die. I can't spend that much in a year, even after dividing it between my kids, and siblings, and in-laws.
do you REALLY need that extra few million?really? while id be mad id pay more taxes than 99.9%, I still know I have more money than 99% of the people, so I wouldn't care. I have enough cash to last me a lifetime.
LOL, if it continues to roll over, as it could this week, your dream may come true in a few weeks. The PB has been only printing 70-75% of the actual number combinations possible so it's a possibility that it could continue to run over and over.
The lottery machine cannot produce every combination on demand. The person needs to fill out the wager slip for all the combinations they want to play.
You're right, but there's no need to use a lottery machine. I don't think some people understand how transactions change at that scale.
If I wanted $584 million dollars worth of Twizzlers, I'm not going to start my purchase at a gas station. I'm going straight to corporate.
Saves a ton of time by not dealing with individually wrapped Twizzlers, doesn't it? Same with lotto tickets. If I bought every combination, there's no point in printing out individual numbers.
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Any business entity would bend over backwards for a legitimate 9-figure revenue through a single transaction. That includes the lottery commission.
