245 Million Powerball Jackpot

[megamania]

BTW, I just read a story in the local paper and it says that the value of the $245 million jackpot is $114.7 million if taken as a lump sum. The odds are 1 in 146,107,962 of winning the jackpot.

curious... I had the odds being worse than that.... closer to 13 TRILLION. A mere 1.4 Million is much better

 

[Bayushi Seikuro]

Cash payouts etc

I know people are asking how the 250+M can turn into only a 80M payout if you take the cash. Not sure if it got answered.

If you read the fine print, the 80M IS NOT the after-tax amount for a cash pyout. If you get the cash payout, you ONLY win the amount of cash they have ON HAND from the tickets - the hypothetical 80M.

I'm torn on which way to go. I'd probably go with the yearly payments; yes, you'll pay taxes more often, but... they pay you an extra 4% each year to account for inflation etc.

 

[Thornir Alekeg]

curious... I had the odds being worse than that.... closer to 13 TRILLION. A mere 1.4 Million is much better

Ummm, that is 146.1 million, not 1.4 million.

I would take the lump sum payment (and hopefully will this Friday with the Mega Millions now at $200 million - I guess $171 million wasn't enough for me to win). I would rather have the entire reduced amount and be able to spend it and invest it as I please and hopefully in 20 or 25 years I will have earned more than the annuity amount.

 

[Treebore]

If we win we are spending about two million to pay off debts and build our dream home right where we live now.

25 Million will be put into investment trusts. 10 million for my wife and I, 5 Million for each of our kids.

The rest will be used to buy people we like out of debt and give them a half a million, so they have about a 1/4 million after taxes.


No. I don't like you.

 

[megamania]

Banks don't like me either... but they still give me loans....

 

[Treebore]

Banks don't like me either... but they still give me loans....

A loan is a different story.

 

[megamania]

will it be interest free?


proberly.... cause I doubt you will be "interested" in that.

 

[Treebore]

Not as if I am going to win anyways.

 

[Treebore]

One more thought I had if I were to win. Throw one heck of a party at GenCon for members of my favorite messageboards! Plus I would try to reserve the whole Westin for GenCon, so all ENWorlders, NEcromancer GAmes, TLG, Green Ronin, and Goodman Games fans could all stay there. Plus give them about $500 each to use however they wish. Spouses included.

 

[Glyfair]

No one won Wednesday, so the jackpot is up to $300 million ($140.3 million cash value).