01-11-2016, 07:16 PM | #57 | |
-
Join Date: Nov 2012
Drives: '13 FRS - STX
Location: SF Bay Area
Posts: 10,376
Thanks: 13,768
Thanked 9,495 Times in 5,008 Posts
Mentioned: 94 Post(s)
Tagged: 3 Thread(s)
|
Quote:
Slightly lowers the chance of you totally fucking yourself over if you have even a basic level of impulse control. |
|
01-11-2016, 07:17 PM | #58 |
Codename: Stitch
Join Date: Apr 2012
Drives: 91 MR2; 06 IS350; 16 BRZ; 18 CX-5
Location: Hayward/NorCal
Posts: 5,248
Thanks: 4,021
Thanked 5,436 Times in 2,307 Posts
Mentioned: 462 Post(s)
Tagged: 6 Thread(s)
|
my coworkers started a pool to buy a bunch of tickets together and agree to share the winnings... I feel like I gotta buy into the pool just as insurance... because if they actually win, and I didn't join... I'd be the only guy left at work haha. And forever known as "that one guy who didn't buy in".
__________________
|
The Following User Says Thank You to PMok For This Useful Post: | MisterSheep (01-12-2016) |
01-11-2016, 07:23 PM | #59 | |
Senior Member
Join Date: Mar 2013
Drives: 2013 WhiteOut FR-S
Location: Dublin,CA
Posts: 969
Thanks: 899
Thanked 492 Times in 306 Posts
Mentioned: 67 Post(s)
Tagged: 2 Thread(s)
|
Quote:
__________________
2013 Scion FR-S whiteout 2012 Porsche Panamera S carbon grey 2008 Range Rover Sport SS black - sold 2004 BMW M3 alpine wies - sold |
|
01-11-2016, 07:28 PM | #60 | |
Custom User Title
|
Quote:
BTW your math is off. If you take your money over 30 payments you get the full $1.4 billion and then pay the taxes annually. The tax on lottery winnings is 39.6% (highest tax bracket right now - 25% up front and 14% on tax day) but you would be subject to tax raises in the future as well. The plus side, though, is that if you're a resident in a state that has state income tax you could potentially move to another state that doesn't and skirt the state tax. I'm not sure if this would work or not but since taxes are paid on income, not on potential future income, I believe you would be okay doing that. http://money.cnn.com/2016/01/08/pf/t...kpot-tax-bill/ Here's a great description of things. I'm not going to bother updating my reply with some of the things said in there but if you read it you'll get a good summary.
__________________
LOCUST 2015 FR-S (STX) and 2012 Evo X MR Instagram: LocustAutoX Sponsors:DSGPerformance Drift Office Evil Apex Racing |
|
The Following User Says Thank You to Locust For This Useful Post: | strat61caster (01-11-2016) |
01-11-2016, 07:31 PM | #61 |
Member
Join Date: Jul 2013
Drives: BRZ
Location: Bay Area CA
Posts: 56
Thanks: 7
Thanked 14 Times in 12 Posts
Mentioned: 1 Post(s)
Tagged: 0 Thread(s)
|
If I won, everyone in America would get their own butler, and those butlers will have butlers. Let's call them AIDS.
|
01-11-2016, 07:32 PM | #62 |
Senior Member
Join Date: Jun 2015
Drives: 2015 CWP BRZ Limited
Location: NOVA
Posts: 2,800
Thanks: 1,801
Thanked 3,946 Times in 1,757 Posts
Mentioned: 105 Post(s)
Tagged: 7 Thread(s)
|
Always take the lump sum. Money begets money.
At a hyperconservative 2% annual rate of return on 800 million dollars, you'll end up with over 1.4 billion in 29 years. |
01-11-2016, 08:33 PM | #63 |
Senior Member
Join Date: Aug 2015
Drives: 2015 WRB BRZ
Location: NorCal Bay Area
Posts: 284
Thanks: 133
Thanked 77 Times in 62 Posts
Mentioned: 4 Post(s)
Tagged: 2 Thread(s)
|
I wouldn't take the payments over the next 29 years. What if you don't live that long lol
|
01-11-2016, 08:51 PM | #64 |
Undisputed El Presidente
Join Date: Jun 2012
Drives: Zenki 37J ZN6
Location: Stockton, CA
Posts: 11,573
Thanks: 9,383
Thanked 9,399 Times in 5,262 Posts
Mentioned: 374 Post(s)
Tagged: 33 Thread(s)
|
Every other lotto goes to your estate, but Powrrball didnt say that on the CA Lotto website so who knows lol
|
01-11-2016, 09:14 PM | #65 | ||
-
Join Date: Nov 2012
Drives: '13 FRS - STX
Location: SF Bay Area
Posts: 10,376
Thanks: 13,768
Thanked 9,495 Times in 5,008 Posts
Mentioned: 94 Post(s)
Tagged: 3 Thread(s)
|
Quote:
I find it hilarious to think that pocketing ~$20 mil every year will "net you nothing" ($1bil/30 years after 40% taxes). I have no desire to manage hundreds of millions of dollars or multiple businesses, I'd rather pass a windfall of that level to other organizations dedicated to improving the world and take the small percentage of the kind of money we're talking about needed to take care of myself and keep me and my future heirs well taken care of with a sizable head start in life. Quote:
Eh, call me small minded, roof over my head, food in my belly, fun cars to drive, time and money to travel. I don't need $100 mil to do that (and I'll continue doing it with far less). |
||
01-11-2016, 09:17 PM | #66 | |
Senior Member
Join Date: Jun 2015
Drives: 2015 CWP BRZ Limited
Location: NOVA
Posts: 2,800
Thanks: 1,801
Thanked 3,946 Times in 1,757 Posts
Mentioned: 105 Post(s)
Tagged: 7 Thread(s)
|
Quote:
|
|
01-11-2016, 09:22 PM | #67 |
-
Join Date: Nov 2012
Drives: '13 FRS - STX
Location: SF Bay Area
Posts: 10,376
Thanks: 13,768
Thanked 9,495 Times in 5,008 Posts
Mentioned: 94 Post(s)
Tagged: 3 Thread(s)
|
Missing a few letters there, thought you were making some girl named Erica super fat over the next 8 years.
|
01-11-2016, 09:22 PM | #68 |
Senior Member
Join Date: Jun 2015
Drives: 2015 CWP BRZ Limited
Location: NOVA
Posts: 2,800
Thanks: 1,801
Thanked 3,946 Times in 1,757 Posts
Mentioned: 105 Post(s)
Tagged: 7 Thread(s)
|
|
The Following 3 Users Say Thank You to jawn For This Useful Post: |
01-11-2016, 09:25 PM | #69 | |
Custom User Title
|
Quote:
__________________
LOCUST 2015 FR-S (STX) and 2012 Evo X MR Instagram: LocustAutoX Sponsors:DSGPerformance Drift Office Evil Apex Racing |
|
The Following User Says Thank You to Locust For This Useful Post: | jawn (01-11-2016) |
01-11-2016, 09:29 PM | #70 |
-
Join Date: Nov 2012
Drives: '13 FRS - STX
Location: SF Bay Area
Posts: 10,376
Thanks: 13,768
Thanked 9,495 Times in 5,008 Posts
Mentioned: 94 Post(s)
Tagged: 3 Thread(s)
|
|
The Following 3 Users Say Thank You to strat61caster For This Useful Post: |
|
|
|
|
Similar Threads | ||||
Thread | Thread Starter | Forum | Replies | Last Post |
Group buy: powerball tickets 500 million | Yruyur | Off-Topic Lounge [WARNING: NO POLITICS] | 18 | 11-29-2012 03:39 PM |
The Powerball is 200 million. If you won you would... | merlin2111 | Off-Topic Lounge [WARNING: NO POLITICS] | 32 | 02-09-2012 08:31 AM |