A new millionaire in our midst?

Reply

  #1  
Old 11-29-12, 04:43 AM
the_tow_guy's Avatar
Group Moderator
Thread Starter
Join Date: Feb 2001
Location: SW Fla USA
Posts: 11,571
A new millionaire in our midst?

I see Powerball had a winner in Arizona; was that you, Vic?
 
Sponsored Links
  #2  
Old 11-29-12, 05:00 AM
Member
Join Date: Jan 2012
Location: Canada
Posts: 2,542
I heard that loto was somewhere in the neighborhood of $550 million?
I'd be able to quick my job with just 1% take home of that and I'm currently working on Freedom 95.
 
  #3  
Old 11-29-12, 05:59 AM
Join Date: Dec 2005
Location: USA
Posts: 3,188
The $550 million is a bit deceiving. That's the annuity value of the prize. Yesterday they announced the lump sum as being around $320 million. After taxes the winner would get around $160 million. If you have to split the winnings it would be much less.

Hardly worth the effort of buying a ticket.
 
  #4  
Old 11-29-12, 07:44 AM
Gunguy45's Avatar
Super Moderator
Join Date: Dec 2007
Location: USA
Posts: 21,018
Just wanted to let everyone know......the site name will be changing with the new owners. I think "Vic's Super Duper Help Site" has a good ring to it. I'll let you know for sure after I get back from the Realtor, truck dealer, car dealer, Harley store, gunshop, and RV dealer.
 

Last edited by Gunguy45; 11-29-12 at 08:49 AM.
  #5  
Old 11-29-12, 11:20 AM
Member
Join Date: Jan 2012
Location: Canada
Posts: 2,542
The $550 million is a bit deceiving. That's the annuity value of the prize. Yesterday they announced the lump sum as being around $320 million.
That I didn't know. They where talking about it on the radio on my drive in saying it was $550 Million.

I knew about the taxing however.
Possibly the only good thing here, loto winnings are non-taxable. Down side, everything else is and as a result, I have no $$ left over to buy tickets these days.
 
  #6  
Old 11-29-12, 02:11 PM
Member
Join Date: Jan 2011
Location: United States
Posts: 2,446
I thought about buying a ticket but didn't get a chance to. Instead as it was getting close to time I wrote down the numbers I thought I would have played and only had two numbers. I am not much of a gambler
 
  #7  
Old 11-29-12, 03:53 PM
Member
Join Date: Aug 2009
Location: USA
Posts: 4,941
The $550 million is a bit deceiving. That's the annuity value of the prize. Yesterday they announced the lump sum as being around $320 million. After taxes the winner would get around $160 million. If you have to split the winnings it would be much less.
You're right Wayne, it surely isn't even worth buying a ticket for at $160 million. That not even enough to pay for the Hurricane Sandy damage.
 
  #8  
Old 11-29-12, 04:03 PM
Forum Topic Moderator
Join Date: Mar 2005
Location: USA
Posts: 44,012
Back when the lottos first came out I met a man that shared my philosophy. He said the lotto was nothing but a self imposed tax...... and they say you have a better chance of getting struck by lightning than winning the lotto.
 
  #9  
Old 11-30-12, 05:11 AM
Member
Join Date: Jan 2012
Location: Canada
Posts: 2,542
Back when the lottos first came out I met a man that shared my philosophy. He said the lotto was nothing but a self imposed tax...... and they say you have a better chance of getting struck by lightning than winning the lotto.
That is very similar to my thoughts.
When I'm paying for gas and the kid behind the counter asks if I'm interested in a ticket, I'll tell them "no thanks, I've made enough donations to them already".
 
Reply

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Thread Tools
Search this Thread
Display Modes