beat: $315m powerball winner now broke - Page 2

PartyGirlUK · #11 01-12-2007, 02:14 PM

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Anyone think this guy might be Gimmenutz?

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Same thought crossed my mind, but GN is from Texas

Addiction · #12 01-12-2007, 02:22 PM

My lifes goal is to win the lottery.

PITTM · #13 01-12-2007, 02:30 PM

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hurley?

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lol

rj

DING-DONG YO · #14 01-12-2007, 02:37 PM

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Whittaker won a nearly $315 million on Christmas 2002 [...] He took his winnings in a lump sum of $113 million after taxes.

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Jee-sus, the IRS are definitely the biggest crooks in this country.

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lol presentvalueoffuturemoneyaments

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ALWAYS take the annuity option and not the lump sum payout when you buy a ticket. ALWAYS ALWAYS ALWAYS.

I'll be very impressed if anyone can tell me why I'm correct. There is a very good reason and it isn't what you think.

rokstedy · #15 01-12-2007, 02:38 PM

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Whittaker won a nearly $315 million on Christmas 2002 [...] He took his winnings in a lump sum of $113 million after taxes.

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Jee-sus, the IRS are definitely the biggest crooks in this country.

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lol presentvalueoffuturemoneyaments

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ALWAYS take the annuity option and not the lump sum payout when you buy a ticket. ALWAYS ALWAYS ALWAYS.

I'll be very impressed if anyone can tell me why I'm correct. There is a very good reason and it isn't what you think.

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A. You net more money.

B. You insulate yourself from going busto.

C. You can borrow against future payments (which is probably a bad idea, but still an option).

DING-DONG YO · #16 01-12-2007, 02:42 PM

Not quite, you're getting closer with C, though.

Triggerle · #17 01-12-2007, 02:46 PM

You might also fall into a lower tax bracket if the win isn't quite that big.

DING-DONG YO · #18 01-12-2007, 02:47 PM

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You might also fall into a lower tax bracket if the win isn't quite that big.

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true, but not what I'm talking about.

bluey · #19 01-12-2007, 02:48 PM

if you die you lose it all tho

Dave I · #20 01-12-2007, 02:50 PM

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I'll be very impressed if anyone can tell me why I'm correct. There is a very good reason and it isn't what you think.

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I am curious about this answer. I was always under the opposite impression because you could potentially make lots more with proper investing by having the lump sum available now. Obv most lotto winners wont do this though.