Mega Millions @ $330M... take the annual payout or the cash option?
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rockerrockstar
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I would probably take the lump sum but it would be a tough choice. If I was not worried so much about inflation I would consider the 26 years of payments mainly because you can't lose all your money like MC Hammer. You always hear about Lottery winners that lose all their money. I don't know how it happens but it does.
Now what I would do is probably quit me job and work on my dreams. I would buy a house and build a recording studio in my big house. Record and release albums. I would make movies by hiring a DP and directing some films. I would hire some good actors and other supporting people for my films. Then release them too. They still would probably be cheaper movies less than a million dollar films. I would get a Red brand camera and film and direct some my own too. I would hire a touring band and go and tour around playing my music that I made for my albums.
I would buy an imac with a 27 in screen.
I would get me a Mustang Super Snake, Ford Explorer, and F150.
Gibson Les Paul like Slash has. I would get a telecaster like Curt Cobain had. I would probably get some tube guitar amps like Mesaboogie, marshal amp, and fender amp. And other guitar accessories. Get a nice drum set too. Set them all up for recording in the studio. I would take guitar lessons and probably some more vocal lessons. I would take acting lessons. I would try out for films.
I want to get a Guns N Roses pinball machine. I would get game machines like Nitendo Wii, Sony Play Station, etc...I would get some Jet Skis and Snowmobiles. Probably get a Harley Davidson too.
I would invest some in gold and alternative currencies in case of hyper inflation.
I probably would travel a lot around the country to figure out where I want to live long term. I think California maybe would be good if I had that much money. Mainly because I like the weather in Southern California. But I would have to think about it. I would probably travel to visit relatives and friends too.
I probably would get a 60 inch LED TV.
Now what I would do is probably quit me job and work on my dreams. I would buy a house and build a recording studio in my big house. Record and release albums. I would make movies by hiring a DP and directing some films. I would hire some good actors and other supporting people for my films. Then release them too. They still would probably be cheaper movies less than a million dollar films. I would get a Red brand camera and film and direct some my own too. I would hire a touring band and go and tour around playing my music that I made for my albums.
I would buy an imac with a 27 in screen.
I would get me a Mustang Super Snake, Ford Explorer, and F150.
Gibson Les Paul like Slash has. I would get a telecaster like Curt Cobain had. I would probably get some tube guitar amps like Mesaboogie, marshal amp, and fender amp. And other guitar accessories. Get a nice drum set too. Set them all up for recording in the studio. I would take guitar lessons and probably some more vocal lessons. I would take acting lessons. I would try out for films.
I want to get a Guns N Roses pinball machine. I would get game machines like Nitendo Wii, Sony Play Station, etc...I would get some Jet Skis and Snowmobiles. Probably get a Harley Davidson too.
I would invest some in gold and alternative currencies in case of hyper inflation.
I probably would travel a lot around the country to figure out where I want to live long term. I think California maybe would be good if I had that much money. Mainly because I like the weather in Southern California. But I would have to think about it. I would probably travel to visit relatives and friends too.
I probably would get a 60 inch LED TV.
Last edited:
angelatc
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(not asking if it's worth playing or if it's a voluntary tax on stupidity)
if you won the advertised jackpot of $331 million...would you take Annual payout of $12,730,769 for 26 years OR $194,242,000 cash option???
and for shits and giggles, what would you do with your prize money???
Thinking about it again, it depends on how old I was. If I was in my 20's, I'd take the annual payments. Now that I'm creeping up on $50, I'd take the lump sum.
Last edited:
AdelaideGUy
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Cash Option, but here in Australia lottery winnings are all tax free lump sums of money that the government can't touch
Voluntary Man
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(not asking if it's worth playing or if it's a voluntary tax on stupidity)
if you won the advertised jackpot of $331 million...
would you take
Annual payout of $12,730,769 for 26 years
OR
$194,242,000 cash option???
and for shits and giggles, what would you do with your prize money???
The annual payout is paid from the annual interest on the original sum. If that doesn't tell you something about inflation over the next 26 years....
rockerrockstar
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- 394
That is what I was thinking too. I am only 37. So the annual payments may be a good idea it is tough to decide. I think I would do the lump sum.
donnay
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I would take the lump sum.
I would pay off all my debts and my families debt. I would donate to Dr. Paul, Glen Bradley and many other patriots who are running for office. I would buy gold, silver and heirloom seeds--that's what I would do right off the bat.
I would pay off all my debts and my families debt. I would donate to Dr. Paul, Glen Bradley and many other patriots who are running for office. I would buy gold, silver and heirloom seeds--that's what I would do right off the bat.
Son of Detroit
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Buy 194 million soft tacos from Taco Bell. That order might take a while.
donnay
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You better save some money for an emergency room visit and a long hospital stay
eduardo89
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Same in Canada. All tax free and cash lump sums.
osan
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Take the money and run
Taking cash up front is the only rational choice. Having done the financial anaylsis between the two I discovered that taking the cash option is best because they discount the value at only 1% or 3%... getting old, don't recall which it was exactly. That is inflation or less. A dollar is worth more today than tomorrow. Take the cash, invest heavily in commodities with not only real and abiding value, but with the longest possible shelf lives. Gold, silver, a wailing good and large reinforced concrete vault that is well hidden in which to warehouse them. Foods, clothing, fabrics and fibers. Don't go crazy, but have a goodly stock on hand. Buy property, cut stones like diamonds and emeralds, and I would look into establishing a tax trust with your county in exchange for allodial title.
I have no idea whether any county government would go for this, but it is worth a try. You make them the beneficiary to a trust that has, say, $500K (or whatever) in it. The trust is managed by your estate, which is KEY here, and pays a perpetual annuity, AKA a perpetuity, equal to the tax bill. You place enough in the trust as principal to make sure it can grow in case the rates go up, which is almost a given in this age of rapacious government theft. In exchange you receive allodial title with EXPLICIT and UNBREAKABLE quitclaim and estoppel such that the state has no finger upon your property ever again no matter what the circumstance. I suspect counties would not go for this, but it would be worth a try. Greed might sway them.
If your yearly tax burden is $10K, the $500K principal should be able to generate at least $25K (5%), the extra 15K rolling over into principal. It starts off slowly but in 30 years you have millions in assets. IMO, gaining allodial title is the single most important thing to try to accomplish. That way no matter what happens, short of a declaration of martial law, nobody can touch your property, presumably not even the EPA who pose pretty grave if subtle threats to property owners nationwide.
One might ask why not keep the $500K and just pay the tax? The answer is simple: allodial title is free and clear. If the economy goes down the tube and the investments of the trust fail utterly, you retain your land and the state can go stick a thumb up its backside. You are exchanging a real asset in return for the elimination of a single risk to your ownership of property. Counties actually SHOULD go for such citizen-managed tax trusts for several reasons. One is that it places the health of the economy high on their list of priorities. It places the prosperities of their residents highly, which by necessity raises the interest in liberty at the county level. Freer people tend to be happier people and happier people tend to do better in terms of their prosperity. It actually brings the individual and the county closer together, which would be the case were counties to simply abolish property taxes. We all know they are not very likely to do this, so other motivation might be in order. For poorer people, joint trusts might work. A hundred families kick in a few thousands of $$ and all of a sudden you have a money making machine in place which stimulates the economy through investment and pays enough dividends to service county level taxes... in exchange for allodial title on each of the properties in question.
Think of it as an investment in economic and political insurance. Yes, it sucks ass because free men should never have to do such things, but perhaps as an interim solution on the path to better things it is better than what we now have?
Just another worthless thought as I prepare myself to go fell trees for a third day running.
(not asking if it's worth playing or if it's a voluntary tax on stupidity)
if you won the advertised jackpot of $331 million...
would you take
Annual payout of $12,730,769 for 26 years
OR
$194,242,000 cash option???
and for shits and giggles, what would you do with your prize money???
Taking cash up front is the only rational choice. Having done the financial anaylsis between the two I discovered that taking the cash option is best because they discount the value at only 1% or 3%... getting old, don't recall which it was exactly. That is inflation or less. A dollar is worth more today than tomorrow. Take the cash, invest heavily in commodities with not only real and abiding value, but with the longest possible shelf lives. Gold, silver, a wailing good and large reinforced concrete vault that is well hidden in which to warehouse them. Foods, clothing, fabrics and fibers. Don't go crazy, but have a goodly stock on hand. Buy property, cut stones like diamonds and emeralds, and I would look into establishing a tax trust with your county in exchange for allodial title.
I have no idea whether any county government would go for this, but it is worth a try. You make them the beneficiary to a trust that has, say, $500K (or whatever) in it. The trust is managed by your estate, which is KEY here, and pays a perpetual annuity, AKA a perpetuity, equal to the tax bill. You place enough in the trust as principal to make sure it can grow in case the rates go up, which is almost a given in this age of rapacious government theft. In exchange you receive allodial title with EXPLICIT and UNBREAKABLE quitclaim and estoppel such that the state has no finger upon your property ever again no matter what the circumstance. I suspect counties would not go for this, but it would be worth a try. Greed might sway them.
If your yearly tax burden is $10K, the $500K principal should be able to generate at least $25K (5%), the extra 15K rolling over into principal. It starts off slowly but in 30 years you have millions in assets. IMO, gaining allodial title is the single most important thing to try to accomplish. That way no matter what happens, short of a declaration of martial law, nobody can touch your property, presumably not even the EPA who pose pretty grave if subtle threats to property owners nationwide.
One might ask why not keep the $500K and just pay the tax? The answer is simple: allodial title is free and clear. If the economy goes down the tube and the investments of the trust fail utterly, you retain your land and the state can go stick a thumb up its backside. You are exchanging a real asset in return for the elimination of a single risk to your ownership of property. Counties actually SHOULD go for such citizen-managed tax trusts for several reasons. One is that it places the health of the economy high on their list of priorities. It places the prosperities of their residents highly, which by necessity raises the interest in liberty at the county level. Freer people tend to be happier people and happier people tend to do better in terms of their prosperity. It actually brings the individual and the county closer together, which would be the case were counties to simply abolish property taxes. We all know they are not very likely to do this, so other motivation might be in order. For poorer people, joint trusts might work. A hundred families kick in a few thousands of $$ and all of a sudden you have a money making machine in place which stimulates the economy through investment and pays enough dividends to service county level taxes... in exchange for allodial title on each of the properties in question.
Think of it as an investment in economic and political insurance. Yes, it sucks ass because free men should never have to do such things, but perhaps as an interim solution on the path to better things it is better than what we now have?
Just another worthless thought as I prepare myself to go fell trees for a third day running.
UtahApocalypse
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Record is now $540M with a $398 Lump Payout.
I will donate 1mil to the cause of liberty as soon as I get everything settled into my accounts
I will donate 1mil to the cause of liberty as soon as I get everything settled into my accounts
No Free Beer
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easycougar
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lump sum...then I'd buy tires for my '96 Camry
ProIndividual
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Take cash...if the lottert gets plundered and embezzled into debt you'll get screwed later if you take payments.
