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Mega Millions sets world record with $1.6 billion lottery jackpot for Tuesday drawing

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What??? 

$1.60
BILLION
Cash Option: $904 million
Now it's on!!!
That's almost a $billion take home. 
Powerball will soar too!
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I remember, being a member here at LP since 2005, when it was a big deal when Jackpots crossed the $300 million threshold, and the dream of watching the Jackpots ever reaching $400 million was looked at as dreaming over the top. Just the thought that we are on the brink of a Jackpot potentially reaching $2 BILLION now, is mind blowing. Simply mind blowing.  I'm ALL IN. Let's do this!

Grovel's avatar - f800e6a39fbfea795d1dcbb09f2244

I wonder how much it is going to roll just today.

CDanaT's avatar - Nolz june15.jpg

$904.9 MILLION  CASH ................(minus applicable 37% fed taxes,of course)...................

                  $570,087,000.     Take home

 

                             Thud

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I believe PB if not won tonight, will shoot up to at least $600mil.

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People will probably be begging, borrowing, and stealing to get their hands on this.

I wonder how the economy will hold up since the holiday season is just around the corner.

maximumfun's avatar - Lottery-030.jpg
In response to CDanaT

I Agree!  That definitely isn't chump change!

CDanaT's avatar - Nolz june15.jpg

Just think:   1 person/904 Million.....That's almost in the DNA test results range of certain elected officials         astronomical

Artist77's avatar - batman14
In response to CDanaT

Lol. Lol And if you noted, the average American has better "odds" than that number!

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In response to EnReval

If it rolls PB will be $620M/$354.3M tomorrow morning.

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 I was just looking at the jackpot list and realized if PB rolls tonight we could have 2 top five jackpots of all time being drawn next week!

music*'s avatar - DiscoBallGlowing

Never say Never.  A single ticket owned by a single person could win this jackpot.

 Then again a record-breaking pool could win it. 

 A record number of tickets could do the job as well.

 MM is an equal opportunity game.

weshar75's avatar - Lottery-042.jpg

Mega Millions rolls to a new annuity record but still has to get about $75 million in cash some were to beat powerball from 2016.  I think mega can do it.-weshar75

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Well. That just happened... Next stop: $2,000,000,000, arriving Tuesday night!

Last6Show page 4Page 5 of 34
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i knew you no one would hit last night am glad i only played  two tickets... i saw people buying 100.00 and up on tickets last night.. the guy at the seven Eleven was so tired saying the machine was constant printing tickets... it will be 2B BY Tuesday..

benjibanks's avatar - Lottery-062.jpg
In response to jjtheprince14

Its like you signed a top-level NBA contract for 30 years.  Westbrook makes 41 mil a year and his contract is for five years.  I would still take the lump sum for many reasons, including estate taxes.

music*'s avatar - DiscoBallGlowing
In response to benjibanks

I agree with your concern about estate taxes. A good Trust & Estate Attorney could fill you in on all the ways to look at the annuity. 

 You will have plenty of cash to pay for all the advice you need. 

benjibanks's avatar - Lottery-062.jpg

^ I have been checking out Wealth Management firms, many seem to offer legal advice and trust creation services.

Revolution777's avatar - moon

57% of all combinations were covered yesterday!  43% chance it rolled, and that it did!  I think Tuesday's drawing will have 85-90% of all combinations covered! 

music*'s avatar - DiscoBallGlowing
In response to benjibanks

Here in California, it is recommended that you create a Trust instead of a Will. I will create a Living Revocable Trust. A Last Will and Testament has to go through Probate. That is expensive and time-consuming.

 There is a YouTube video titled, Mrs. Trust and Mrs. Will  It compares the two.

 Legal advice may include asset protection services. You could become a target of frivolous lawsuits. 

 Enjoy your billions!

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Usually only get 1 ticket but I just got 5 for this historic event.  Big Smile

music*'s avatar - DiscoBallGlowing

Like the Rapper Biggie says, "Mo money, Mo problems" 

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15 lines + megaplier check!

travelintrucker's avatar - morph

I'm shocked nobody won last night! I figure this thing will either go to 2 billion, people will cut back on playing, or people will stop playing in protest. I know that some people have won with the current odds, however, some may think you just can't win anymore and stop playing. Some may think the greed is ridiculous. As for myself, I'm cutting back and only playing 1 line for every 300 hundred million until I win. I figure this thing will at least go to 1.8 billion. So, I am only buying six lines unless I can get in a lottery pool.

Teddi's avatar - Lottery-008.jpg
In response to vbrich

A SFO for a low to mid level centimillionaire is an unnecessary waste of money. A MFO is a better option for a small family without a large yearly income stream from a secondary source. Because if you put $500,000,000 million under management, you'd have to shell out at least $5 million every year for a SFO. 

There are many boutique firms that do nothing but cater to the whims of the rich 24/7 so that even a MFO would be unnecessary. Have one of them handle things on the personal side of things, then hire a tax lawyer and CFA used to managing high net worth clients to handle things on the financial side, and you're set. Doing it that way wouldn't cost anywhere near $5M/year

dpoly1's avatar - driver

The store where I purchase my tickets has two lottery terminals and both were being used this morning!

I got my tickets from the secondary terminal and I am hoping for a change of luck!

Big Grin Santa There's still a chance for Christmas in October!

My financial plan is in place and ready to be implemented.

travelintrucker's avatar - morph

You forgot about Powerball.

travelintrucker's avatar - morph

I wouldn't be surprised if someone started a lotto hedge fund.

BuyLow's avatar - fd725949c52faf3bef0a9e377747408d -iphone-wallpaper-palm-trees.jpg

Interesting artcle:  https://www.nerdwallet.com/blog/investing/dear-powerball-winner-make-no-sudden-moves-until-you-read-this/

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