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Powerball Jackpot Climbs to $205 Million

danny40's avatar - friends

good luck to all !!!!!!

Todd's avatar - Cylon 200.jpg

Yes, good luck to all!  I always find it amazing when the cash option is greater than $100 million.  That's an unimaginable amount of money to win.

DoctorEw220's avatar - alien helmet.jpg

think about what would happen when the cash option AFTER TAXES is over $100 million.

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With the jackpot amount this large, would it still be wise to take the cash option? 

If you choose the annuity option, you would be paid an average of $7 million a year for 29 years ($205 million over 29 years)!

I mostly hear arguments for the cash option, but if you were to receive $7 million per year, I might think about the annuity.

Thomas Covenant's avatar - money

Take half cash, half in an annuity. That way, you can buy your high price items (mansion, vacation home, cars) and still have an income for WHEN you blow all your cash.

mken35's avatar - starwars06
Quote:Originally posted by tsai3904 on May 06, 2004



With the jackpot amount this large, would it still be wise to take the cash option? 

If you choose the annuity option, you would be paid an average of $7 million a year for 29 years ($205 million over 29 years)!

I mostly hear arguments for the cash option, but if you were to receive $7 million per year, I might think about the annuity.





Thank you Thank you... somebody step up to the plate on large jackpots, I know I don't have 205 million just laying around in the bank with all that money what could you do with it at one time I think you'll have more headaches trying to keep up with all that cash and all those tax attorney's, finanicial advisors and watching the stock market now you become a babysitter of your own money, Twenty-nine years sounds better at 7 million a year than taking all of it at one time, I would be at peace with myself annuity at this point is better..... anything else cash only.

Mken35 out


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I would take the LUMP SUM no matter what...

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Quote:Originally posted by tsai3904 on May 06, 2004



With the jackpot amount this large, would it still be wise to take the cash option? 

If you choose the annuity option, you would be paid an average of $7 million a year for 29 years ($205 million over 29 years)!

I mostly hear arguments for the cash option, but if you were to receive $7 million per year, I might think about the annuity.





This would depend on the American currency retaining its value.  Given that the United States prints money indiscriminately, and has been a net debtor nation since the mid-1980's, this wouldn't be a particularly good bet.  Our current government is spending money like a drunken sailor on a three week bender, and, like the metaphorical sailor, none of this spending, absolutely none of it, represents an investment in the future.  People think hyper inflation can't happen here, but neither did they think it could happen in Germany in the 1920's or in Argentina in the 1980's.  It can and it will.

My advice:  Take the Cash.   Invest it in international securities as quickly as you can.  Keep some here to live on for the short term, but be prepared to bring your money back after the crash.  You'll be richer than you can imagine and you'll be able to help your country by bringing real capital back to it.


 

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If you were to take the cash option, the only way to reach the amount of the jackpot that you should have won is to invest most of your lump sum and hope for a great annual rate of return.  You would have to time the market for this approach.

But if you take the annuity, you can invest part of your annual income ($7 million per year) and use the theory of dollar cost averaging, which any investor would bet on rather than timing the market. 

Another reason why someone would take the annuity is because people tend to spend a lot when they can.  It would be hard to waste most of the lump sum ($100 million) but that person's cost of living will rise significantly for the next several years.  Maybe in 15-20 years, they will not have as much money as they need to satisfy their wants. 

However, if you take the annuity, you are taking in an annual $7 million, which would be uncommon to their previous paychecks.  But, after the first couple of years, that person will get used to that style of living and spend accordingly (spending in proportion to a $7 million income).

For those that believe the cash option would be better, would they care to explain why instead of just saying it?  I would just like to know the way people think (there is no right answer).

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Quote:Originally posted by prob987 on May 06, 2004



This would depend on the American currency retaining its value.  Given that the United States prints money indiscriminately, and has been a net debtor nation since the mid-1980's, this wouldn't be a particularly good bet.  Our current government is spending money like a drunken sailor on a three week bender, and, like the metaphorical sailor, none of this spending, absolutely none of it, represents an investment in the future.  People think hyper inflation can't happen here, but neither did they think it could happen in Germany in the 1920's or in Argentina in the 1980's.  It can and it will.

My advice:  Take the Cash.   Invest it in international securities as quickly as you can.  Keep some here to live on for the short term, but be prepared to bring your money back after the crash.  You'll be richer than you can imagine and you'll be able to help your country by bringing real capital back to it.


 





Your statement is pure rubbish. Who bailed out Argentina in the 80's? The World Bank. Take away the U.S.A. and there is no World Bank.

The United States has the strongest economy of any nation on the face of the earth. If we go under, which we won't, the whole world would go under.

Where is this magical land you plan to invest in international securties? Could it be The Land of Oz National Bank?

Chas

weshar75's avatar - Lottery-042.jpg

I would like to see a new single ticket record jackpot set on this run anything above 314.9 million will do.  Hopefully it will only take 3 rollovers to reach a record higher than the previous one.   

weshar75's avatar - Lottery-042.jpg

Pennsylvania Lottery Website has a Powerball Jackpot increase at 212million dollars today.

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 I remember the first 1 million dollar jackpot game I ever played.Back then it seemed like a whole lot of money,and it wasn't that long ago. Now it seems that we have to have 100 MILLION PLUS jackpots to get anybody's. Is that how much people feel they need to make their lives better. As far as annuity vs. cash option I'm on the fence. I can only hope to win,but Idon't play to win. remember to play responsibly. Only play what you can afford to lose.GOOD LUCK TO ALL!

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This would be one time that it is nice to have a president that protects the rich! :-)



Now the estimate is 212 mIll annuity/110.7 mill cash...



My guess that that would be $60+ mil after taxes... Cash, wouldn't that be special



MarkP



Microsoft VBScript runtime error '800a01c2'



Use Linux!



Quote:Originally posted by DoctorEw220 on May 06, 2004

think about what would happen when the cash option AFTER TAXES is over $100 million.




thatthat

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