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The Powerball and Mega Millions Wanna win it thread

Still day dreaming about what I would buy or do with all that cash. After today's snow, first thing I'm doing is moving.
 
ArmyGolf said:
So I could give a million bucks to my 500 favorite people and still be a billionaire. Unreal.
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If the Government etc didn't make sex with you via taxes, then yes. Absolutely.

Sadly, that payout is nowhere close to the final number.
 
Canadan said:
If the Government etc didn't make sex with you via taxes, then yes. Absolutely.

Sadly, that payout is nowhere close to the final number.
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The cash payout is at $800million something now, right? Before taxes of course. NY Lottery website only goes up to $999Million.
 
I am having a tough time grasping how much money this really is. $1 million dollars/day for over 4 yrs...
 
OK, a must in the house(s) I have built, will be this.
Spoiler
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THIS would also be nice.....
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Let's say you won it ALL, all by yourself. OK? Let's assume after taxes you have around $600 million left over. Let's break this down, just for the fun of it.

Let's say you take the Annual Payments. So you'd get the $600 million, 1st payment right away and then over the following 29 years in equal payments of $20,000,000 per year. Without continually figuring yearly taxes, just to make the math easier.

It would break down like this....

$20,000,000 per year

$1,666,666.67 per month

$384,615.38 per week

$76,923.08 per day

$9615.38 per hour

$160.26 per minute

$2.67 per second
 
That's insane, not holding my breath.
 
At work today they got a pool together, so we'll see what happens. Me personally I would have put my money towards something else. Oh well hopefully one of us wins it.
 
I think Mark Cuban has the best take on it so far. To paraphrase; If you were unhappy before you won, you will still be unhappy after you win. If you were happy before you won, you will be happier after you win.
I'm going to be pretty damn happy on Thursday am!$$$$
 
Agent Jay said:
Let's say you won it ALL, all by yourself. OK? Let's assume after taxes you have around $600 million left over. Let's break this down, just for the fun of it.

Let's say you take the Annual Payments. So you'd get the $600 million, 1st payment right away and then over the following 29 years in equal payments of $20,000,000 per year.
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Actually, if you took the Annual Payments, you'd base it on the full amount of the lottery, $1.5B+. As the money sits in the bank and collects interest, which you are entitled to, you only pay taxes on the amount of money you get yearly. Approx. $52M per year before taxes.
 
VegasMav said:
Actually, if you took the Annual Payments, you'd base it on the full amount of the lottery, $1.5B+. As the money sits in the bank and collects interest, which you are entitled to, you only pay taxes on the amount of money you get yearly. Approx. $52M per year before taxes.
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So your saying after taxes (depending on the state you live in), it could be more like $20 million per year? lol

Just all hypothetical numbers Mav...I'm not a Tax Attorney.
 
Agent Jay said:
So your saying after taxes (depending on the state you live in), it could be more like $20 million per year? lol

Just all hypothetical numbers Mav...I'm not a Tax Attorney.
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I believe after taxes it's more like $30+ to start.
 
ArmyGolf said:
So I could give a million bucks to my 500 favorite people and still be a billionaire. Unreal.
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Yes, but someone would have to pay taxes on those millions. IIRC, you can only - in your lifetime - gift a total of 5.43 million which would avoid being taxed.
 
State of Kansas would take $40 million right off the top and the government would also get their share. So, for Kansas it would be better than about half the other states.
So I'm reading.

Plus, I don't have to let anyone know I won either, which is kind of nice.
 
Agent Jay said:
So your saying after taxes (depending on the state you live in), it could be more like $20 million per year? lol

Just all hypothetical numbers Mav...I'm not a Tax Attorney.
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I didn't stay in a Holiday Inn Express last night so I may be off...

I just looked at what you based it on the $600M after taxes...I suck at finance. If I win, I'd be in big trouble.
 
If I win the big money. I will still be doing what I posted above.
 
I'd buy the apartment next to Don from Project X. My goal in life would just be to greet him in the morning with a cup of coffee and be like, "Good morning neighbor."
 
No state taxes in Texas. Let the govt get their cut and the rest is all going offshore. Give me a private jet and a briefcase full of cash. I'll be happy
 
NY would take a ton but I think I could still manage to enjoy $300mill or so lol
 
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