Originally Posted by Robbie (Post 19752689)

Just saw one of the guys who won Powerball. He was holding up a check for over 148 MILLION DOLLARS.

Then the news guy said that after taxes he will have 53 million left.

Wow. The govt. is going to take almost 2/3 of the money. Wow.

Originally Posted by SuckOnThis (Post 19752812)

Vegas does the same thing. A lot of progressive jackpots on slot machines are paid in 20 - 25 year installments.

Originally Posted by PornoMonster (Post 19753752)

Even McDonald's 1 million Monopoly prize is paid out over 20 years now I think...

Originally Posted by Robbie (Post 19752689)

Just saw one of the guys who won Powerball. He was holding up a check for over 148 MILLION DOLLARS.

Then the news guy said that after taxes he will have 53 million left.

Wow. The govt. is going to take almost 2/3 of the money. Wow.

Originally Posted by Eric (Post 19753702)

I can make this answer easy and simple for you

$148,000,000 taken over 25 years vs 53,000,000 taken today

http://investor.gov/tools/calculator...est-calculator

Plug in the $53,000,000

Then put in 4.5% interest paid out 12 times, or once a month. This is the approx payout of a fund such as FCAVX that pays you State and Federally tax free. Yes, NO TAXES ON THE INTEREST GAINED.

Now run that out 25 years and you get:
$162,908,353.99

This fund is ULTRA conservative. So ALWAYS take the lump sum. Stay ULTRA conservative and have approx $2.5 Million Tax Free Income per year and NEVER touch your principle.

And now you know why these people ALL takes the lump sum when being advised by some of the best lawyers and accountants on the planet.

Originally Posted by xxxcoupon (Post 19752946)

in my state ( texas ) lottery taxes go to the school system