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It won't be a secret for long. It's South Carolina - just look to see who suddenly has a shiny new set of plaster 7 Dwarves in front of the trailer, or a brand new washer and drier on the porch.
The winner of my Wednesday morning read. Thanks for the giggle!
I think the guy is comfortably well off even before the lottery win. I don't think the guy was living hand-to-mouth as if he was, would he have patiently waited 5 months after winning to collect?
Maybe not rich, but not struggling.
Which, if that is the case, gives hope to him being decently smart with his money.
Well, even if he was living paycheck to paycheck, and turned in his winning ticket the next day, it still takes about 3-4 months for the money to actually be deposited into your account.
Plus, winners can go to any bank and get advances if they need the money right then, I believe they can get up to $250K, as long as they can prove they have won of course.
Well, even if he was living paycheck to paycheck, and turned in his winning ticket the next day, it still takes about 3-4 months for the money to actually be deposited into your account.
They turned in the ticket and claimed the jackpot on Monday, they'll have the money by next week as the lawyers will be holding a press conference once the money is transferred..
Of all the incomes that should be exempt from taxes, the massive windfall of a lottery win - which involved no actual production or toil in any way - isn't among them. Why on Earth anyone thinks that exemptions are important so a lottery winner can have $800+ million instead of a 'mere' $600 million is beyond me.
Yes, yes, we all would be happy of states magically ran without revenue. But they don't.
Personally, I love lotteries - they're nothing more than voluntary forms of taxation for people who are bad at math.
Completely agree. It’s an excellent source of tax revenue.
I'd definitely have contingencies in place before claiming. I'd change my number, address, and everything locally. Once I actually have the money, I'd move somewhere else where I was not known.
It won't be a secret for long. It's South Carolina - just look to see who suddenly has a shiny new set of plaster 7 Dwarves in front of the trailer, or a brand new washer and drier on the porch.
I always love lazy stereotyping, especially from someone who lives in Kentucky. I don't live there, but Simpsonville is a very nice suburb of Greenville, which is a pretty cool city in and of itself. I think, especially given how the winner has taken his or her sweet time collecting, it's awfully likely that the winner already lived in a nicer home than you.
I always love lazy stereotyping, especially from someone who lives in Kentucky. I don't live there, but Simpsonville is a very nice suburb of Greenville, which is a pretty cool city in and of itself. I think, especially given how the winner has taken his or her sweet time collecting, it's awfully likely that the winner already lived in a nicer home than you.
That particular AREA of Simpsonville actually is fairly country. I'm fairly certain I know where this place is, and it is, actually, somewhat out in the boonies. Down towards Gray Court, Laurens County way.. And Laurens County is.. While growing somewhat.. Still a fairly low job area. They do have ZF Transmissions there and some other automotive related places that are just over the line to avoid Greenville County taxes.. But, they also have places like Sterilite, which seems to pay pretty bad.. Used to have Jostens, but they moved away.
but, Yeah, you're right.. Downtown Greenville.. I'll be there tomorrow night for the Thursday performance of "The Book of Mormon" at the Peace Center.. Downtown was revitalized and has many, many award winning restaurants. In a month or two, baseball season will start up again with the Greenville Drive at West End Field (Fluor Field).. You can see what's going on at www.yeahthatgreenville.com
But, that's kinda the cool thing. Greenville and the upstate in general has 'metro' areas, but also has quiet, country areas. Something for everyone.
I think waiting to collect such a huge sum of money is very smart- it's exactly what my husband and I would do. How would it benefit you to rush in and accept it without extensive financial planning?
I wouldn't even tell my family members that we won that kind of money; I would have my lawyer bestow them with anonymous gifts, i.e. large sums of money that would pay off houses, buy houses, future college funds. Luckily my husband and I are not the types to want huge mansions and Ferrari's so whatever we'd buy would be modest and look as if we could already afford it. OR, we could also be recipients of some anonymous gifts and let the whole family just go nuts trying to figure it out, LOL!
Anonymous gifts would attract more media attention and tax liability for you (max gift is 15K per person per year). Gift tax is 50% so if you give someone 115K in one year then you owe the IRS 50K in taxes for that gift. You can pay college expenses directly to the school with nothing due.
Well, even if he was living paycheck to paycheck, and turned in his winning ticket the next day, it still takes about 3-4 months for the money to actually be deposited into your account.
Plus, winners can go to any bank and get advances if they need the money right then, I believe they can get up to $250K, as long as they can prove they have won of course.
Not true.......it can take up to one month for the monies to be collected nationwide from all the lotteries but in this case, the cash was rounded up before Christmas last year. Money would have been wired within a day or so.
Banks will not loan on "advances" that would fall more towards "hard money lending type deals." I knew a local guy that got a 600K advance from his own lawyer (lawyer had the ticket as collateral). Jackpot was about 27mm net after taxes. Banks can't make fast decisions on real loans (homes/cars) so there is NO CHANCE they will have an answer for an unsecured loan on a future lottery jackpot claim........unless the answer is NO.
Just for an answer, please go into your local bank tomorrow and ask the branch manager if they would do a 50K loan for you short term until you claim the ticket.
Not true.......it can take up to one month for the monies to be collected nationwide from all the lotteries but in this case, the cash was rounded up before Christmas last year. Money would have been wired within a day or so.
Banks will not loan on "advances" that would fall more towards "hard money lending type deals." I knew a local guy that got a 600K advance from his own lawyer (lawyer had the ticket as collateral). Jackpot was about 27mm net after taxes. Banks can't make fast decisions on real loans (homes/cars) so there is NO CHANCE they will have an answer for an unsecured loan on a future lottery jackpot claim........unless the answer is NO.
Just for an answer, please go into your local bank tomorrow and ask the branch manager if they would do a 50K loan for you short term until you claim the ticket.
You did see that I said they would only do this if the person could prove to them they had actually won...right?
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