You win the powerball tonite: Tell me this...

Black_SamsonBlack_Samson I drive a fast car...Posts: 45,411 Regulator
Do you...

A. Take the cash payout, effectively giving away over $200 million, but having all your money up front. You lose that much more in taxes right away.

B. Take the annuity. You eventually get the full amount, you still lose a butt-ton in taxes, but it doesn't FEEL like you lose as much.


take the cash payout... fuck having them keep track of me.
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Replies

  • KingJamalKingJamal Posts: 20,667 ✭✭✭✭✭
    edited November 2012
    Take the cash payout. I want all my money NOW!!!
  • CainCain Admin, Moderator, old.me.is no more Cyttorax DimensionPosts: 30,115 Regulator
    cash out so I can get out
    goldenja
  • Billy_PonchoBilly_Poncho Real African Posts: 17,408 ✭✭✭✭✭
    Want mine up front, government might just say, "let's stop payin these lottery winners" one day.
    ShizlanskyDWO
  • AZTGAZTG Posts: 3,234 ✭✭✭✭✭
    I don't trust the government so I'll take cash. Annuity is a 20 year period, what if the government goes bankrupt and I don't get my money? What if the economy crumbles, inflation hits, and the dollar ain't shit no more? I don't trust no government with my millions.

    Give me the $250 mil so I can turn it into gold bonds to combat inflation and sit on it.
    texas409Bookworm
  • DRO_BANKSDRO_BANKS Posts: 11,769 ✭✭✭✭✭
    I HEARD THAT IF U DIE WHILE RECEIVING ANNUITY, NOONE CAN CLAIM YOUR MONEY. LIKE U CAN LEAVE IN IT YOUR WILL ECT...

  • a.manna.mann Posts: 17,245 ✭✭✭✭✭
  • Black_SamsonBlack_Samson I drive a fast car... Posts: 45,411 Regulator
    fuck it, taking the cash and hauling ass, i'll already have bought an island and a swiss account.
    get in the fucking truck baby lets get the fuck outta here before our family members find out!

    probably kill my wife....
    VIBEMeta_Conscious
  • powerman 5000powerman 5000 Posts: 2,638 ✭✭✭✭✭
    cash, so every april 15th, I just zero out that form and keep it moving. I ain't earn shit so i ain't pay shit.
  • DRO_BANKSDRO_BANKS Posts: 11,769 ✭✭✭✭✭
    fuck it, taking the cash and hauling ass, i'll already have bought an island and a swiss account.
    get in the fucking truck baby lets get the fuck outta here before our family members find out!

    probably kill my wife....

    I AINT GONE KILL MY WIFE, BUT I WOULD THINK ABOUT LEAVING OR JUST BE STRAIGHT UP WITH HER.... AINT NO WAY IMA HAVE ALL THAT MONEY AND NOT LIVE LIKE MR. PLAYBOY FOR A WHILE
  • Black_SamsonBlack_Samson I drive a fast car... Posts: 45,411 Regulator
    no she talkin stupid.. i just asked her what we would do, this muhfukka talkin donating to the homeless!!!
    the fuck kinda shit is she on?
    she gets no access to the swiss bank account.
    VIBEMrSoutCityHustleTree
  • Supreme_GentlemanSupreme_Gentleman #RapeCulture Posts: 19,863 ✭✭✭✭✭
    Taking the money upfront and then building an empire.
  • VIBEVIBE Awww Yeeaah! Posts: 39,534 ✭✭✭✭✭
    Take the lump.

    We'd buy a huge house in the mountains. I'd get me a truck and boat. Camaro as well. I'd be set on that.

    We'd help out some family. I'd make a charity donation.
  • a.manna.mann Posts: 17,245 ✭✭✭✭✭
    edited November 2012
    cash, so every april 15th, I just zero out that form and keep it moving. I ain't earn shit so i ain't pay shit.


    lotto winnings IS considered Earn Income

    that's why people have to pay taxes on it (anything over 10 Gs or more I think)


    and it's up to the individual to take of it
    the lottery official will only inform you that it needs to be done

  • powerman 5000powerman 5000 Posts: 2,638 ✭✭✭✭✭
    a.mann wrote: »
    cash, so every april 15th, I just zero out that form and keep it moving. I ain't earn shit so i ain't pay shit.

    lottery winning IS considered Earn Income

    that's why people have to pay taxes

    Of course you pay taxes on it, I didn't say you didn't. That's why I said take the one time cash payment, to get the taxes out of the way. They not going to tax you every year if you don't have income. if that's the case, you might as well not win because you'll end up giving all to the irs within 5 years.
    a.mann
  • jonojono Right fist = power, left fist = unity Posts: 17,449 ✭✭✭✭✭
    I wouldn't tell anyone I won, I wouldn't act like I won and I wouldn't change shit if I won.


    But since I'm not playing I won't win.
    huey
  • AZTGAZTG Posts: 3,234 ✭✭✭✭✭
    I ain't win, now I'm trying to find the person that did
  • DWODWO ♪♫♪ I was down 40, now I'm up 50. Posts: 49,130 Regulator
    i'd take the anuuity... cuz by the 3rd year it would be just another check i'd be getting...

    and you can put that shit in your will

    WHAT HAPPENS IF AN ANNUITY PRIZE WINNER DIES?

    The estate will handle the lottery prize. A lottery annuity prize is just like any other asset. You can pass any remaining annuity payments on to your heirs or to anyone else. The Powerball game will even cash out an annuity prize for an estate. This may make it easier for the estate to distribute the prize. It also may be necessary to cash out the annuity to pay Federal estate taxes. We will sell some or all of the securities at competitive bid or will even just transfer the securities to the estate. We do not charge a fee of any kind. I think that this misunderstanding may come from the response that the prize "goes to the Estate" and some people hear "goes to the State."

  • 7figz7figz Ig'nant Posts: 11,084 ✭✭✭✭✭
    edited November 2012
    Probably would've took it all. Anything could happen in the future that could cause me to lose the money including death.
    King Erauno
  • hueyhuey Posts: 9,775 ✭✭✭✭✭
    Always take the lump sum
  • MC The RapperMC The Rapper Posts: 8,143 ✭✭✭✭✭
    shit with the dollar about to collapse I'm not risking a 20 year annuity and I'm flipping that shit into gold/real estate something
  • HustleTreeHustleTree Posts: 2,401 ✭✭✭✭✭
    Its my money and I want it now!!!! Word to JG Wentworth... Im keeping the same chick that held me down when i aint have shit and we go around the world shittin on folks
    Dr. Stitch
  • JokerKingJokerKing She call me Mr. Boombastic say me fantastic, touch me in me back she say I'm Mr. Ro...mantic Watching Jimmy Fallon With Barbara GordonPosts: 25,196 Regulator
    This is what kat would do

  • manofmorehousemanofmorehouse Posts: 955 ✭✭✭✭✭
    annuity payments ftw. You see all these horror stories about niggas that took lump sums, cashed out, blew dough on bitches and cars, and are dirt broke after 5 years. With the annual payments, a nigga receives money every year, essentially eliminating the need for a 9-5. A nigga could invest, open businesses, etc. without the fear of having to pour everything in and lose it all. You always have the comfort of knowing you get a check next year
    King Erauno
  • King EraunoKing Erauno Posts: 6,231 ✭✭✭✭✭
    annuity. plus you would get more than the lump sum amount as well. alot more
  • edwardnigmaedwardnigma Posts: 3,364 ✭✭✭✭✭
    Im gonna get all my cash now. Ima buy a pistol and sawed off incase a pussy want war.Ill leave my gran and moms a mil each and start traveling the world.While im traveling ill start laying out a timeline for my business plan.

    If my business plans work, ill give jobs to some homies and family.

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