Hey Marlow MEGA MILLIONS' is now at $82.8 MIL

[Marlow]

Wow! That leaves a lot left over for blow for a monogamous married teetotaler. :shock:

Oh wait a minute. Does that mean I have to sniff stuff up my nose? Ugh - no way! :x
OK, I'll invest in this little niche magazine I know about - "Track & something something". I'll think of the name in a little bit.

[lonewolf]

Fuggegaboudit - I'm blowing the whole lump sum on broads, booze, and blow (cocaine)!! :twisted:

Wow! That leaves a lot left over for blow for a monogamous married teetotaler. :shock:

[Marlow]

Fuggegaboudit - I'm blowing the whole lump sum on broads, booze, and blow (cocaine)!! :twisted:

[lonewolf]

That would be a delightful dilemma but you might want to do a little arithmatic. before you decide.

Assume 50% First year Tax, 5% Annual Interest, 30% tax on interest.

If you can squeeze by on $1 mill/year, in 26 years the $82.5 lump sump will be worth about $56 mill.

If you take the $5,115,384/ year payout, draw $1 mill/year, re-invest balance at 5%, pay 30% tax on interest,, in 26 years your stash will be worth about $225 mill.

In nine years the accrued value of the $5 mill/year payout will equal the 26 year value of the lump sum payment

In both cases you will have enjoyed $26 mill, tax paid walking around money.

You might have to delay purchase of the Lear a year but in the meantime, you can fly first class

[Jack Slocombe]

Mega is actually up to $133 MM.

http://www.galottery.com/stc/home/index.jsp

Thats the 26 equal, annual payment award. If you select the cash payout you get a one time payout of $82.8 million. At 68, gimme the one time payout.

[BillVol]

Mega is actually up to $133 MM.

http://www.galottery.com/stc/home/index.jsp

[Marlow]

There's something heady about cruising along at 51,000 feet at mach .81 in your own Learjet sipping a very dry martini headed to Florida to drop off Marlow's early retirment check. Makes me feel right warm.

It's gonna start getting even warmer if 'we' don't hurry up and win. I've already started the spending spree, so you've got a couple more weeks before the first credit card bill comes due. :twisted:

[dal4018]

We did not quite get all the numbers right. Sorry. At least no one else did, so the cash jackpot goes to $82,800,000.00 on Tuesday and this bubba will have tickets. Hang in there Marlow and the same for the Learjet 60 salesman.

There's something heady about cruising along at 51,000 feet at mach .81 in your own Learjet sipping a very dry martini headed to Florida to drop off Marlow's early retirment check. Makes me feel right warm.

Thanks 007

[Jack Slocombe]

We did not quite get all the numbers right. Sorry. At least no one else did, so the cash jackpot goes to $82,800,000.00 on Tuesday and this bubba will have tickets. Hang in there Marlow and the same for the Learjet 60 salesman.

There's something heady about cruising along at 51,000 feet at mach .81 in your own Learjet sipping a very dry martini headed to Florida to drop off Marlow's early retirment check. Makes me feel right warm.

[Marlow]

[quote=Jack Slocombe]

leaving the winner a net $45,500,000

barely worth the effort of buying a ticket! :roll: :wink:

I'll bring your early retirement check down in my new Learjet 60.[/quote:1q9k6tyv]
Now see, everybody? That's class! And why I LOVE this man!

[Jack Slocombe]

leaving the winner a net $45,500,000

barely worth the effort of buying a ticket! :roll: :wink:

I'll bring your early retirement check down in my new Learjet 60.

http://www.aircraftdealer.com/aircraft_ ... /23430.htm

[Marlow]

leaving the winner a net $45,500,000

barely worth the effort of buying a ticket! :roll: :wink:

[Jack Slocombe]

Here's how it works.

The full lottery has a value of $113,000,000. and is paid over 26 years with equal annual payments of $4,346,153. The Feds will take a 35% tax or $1,521,153. leaving the winner with a net $2,825,000.

The winner may opt to take a one time cash payout, in this case $70,000,000. Again the Feds will take a 35% tax or $24,500,000 leaving the winner a net $45,500,000.

The media always gets it wrong.

[dal4018]

[quote=Jack Slocombe]

I think I'll take a shot at that 70 million!!!!!!!!!!!!!!!

And remember, that is the cash payout of which you will keep 65% or $45,500,000 after taxes.

Okay how much does Uncle Sam take in the form of taxes??????????

35% of the gross.[/quote:1svhn99y]Hold it I thought they took a lion's share of what you won I remember that guy from West Virginia in '02 winning 312 million and Uncle Sam took over 200 million and left him with 112 million not that he should have any right to complain.

[Jack Slocombe]

I think I'll take a shot at that 70 million!!!!!!!!!!!!!!!

And remember, that is the cash payout of which you will keep 65% or $45,500,000 after taxes.

Okay how much does Uncle Sam take in the form of taxes??????????

35% of the gross.