What would you do with $1.4 billion? (1 Viewer)

[Chawks45]

That's 140,000 entry fees to the WSOP Main Event.

Time to chase the bracelet!

 

[WedgeRock]

That's if you go with the lump sum option. Only a fool would do that, however.

I have heard (but don't know if it's true) that you can't transfer the remaining annuity if you die before it's paid out.

The average life expectancy of a US male is somewhere south of 74 years. Therefore, if the numbers are correct, I won't live to collect the 29th annuity payment.

That said, I guess I would collect more over the next 22 years than I would taking half of it up front, ignoring the possibility of making more money with that up front payment.

I guess my point is, it's not such a clear choice, and it's not necessarily foolish to take the up front payment.

EDIT: unclaimed annuity payments are paid to the winners estate.

If a jackpot winner dies before receiving all annual installments, the balance of the prize will be paid to the winner's estate. Upon receipt of a court order, annual prize payments will continue to be paid to the winner's heirs. Other provisions may also apply depending on the laws of the lottery paying the prize.

Source: https://www.powerball.com/faqs

 

[Bigbluff81]

Buy @louBdub hotrod set.

 

[ekricket]

I have heard (but don't know if it's true) that you can't transfer the remaining annuity if you die before it's paid out.

The average life expectancy of a US male is somewhere south of 74 years. Therefore, if the numbers are correct, I won't live to collect the 29th annuity payment.

That said, I guess I would collect more over the next 22 years than I would taking half of it up front, ignoring the possibility of making more money with that up front payment.

I guess my point is, it's not such a clear choice, and it's not necessarily foolish to take the up front payment.

EDIT: unclaimed annuity payments are paid to the winners estate.



Source: https://www.powerball.com/faqs

You could always take the lump sum and invest it in an annuity where you are comfortable with the terms. It’s sorta the same thing the lottery does when you select an annuity, they probably just invest the same lump sum and send you the payments under their terms.

 

[greenchip]

I prefer a lump sum. Inflation kills.

Also, pain in the ash to get prizes paid over $600 for lottery tickets. It took me 3 months to get paid $1,000 and that's usual. Bought a $5 ticket, won $1,000 once.

Not a lottery, but I don't pay slots with huge progressives where the jackpot is paid only in annual installments over 20 years, like Megabucks with $10M starting progressive. The chance of hitting is 1 in 50,000,000 plus half gone for taxes right? Instead, I play slots with $1,000 starting progressive and try to hit under $1,200 to avoid getting W2. I will say the chance of hitting that is 1 in 5,000 to 1 in 10,000.

What about $1.4B? Online searching says, 1 in 300,000,000. Not bad compared to Megabucks, but wow chances are so low yeah we can increase by group buying.

 

[warma]

I have heard (but don't know if it's true) that you can't transfer the remaining annuity if you die before it's paid out.

The average life expectancy of a US male is somewhere south of 74 years. Therefore, if the numbers are correct, I won't live to collect the 29th annuity payment.

That said, I guess I would collect more over the next 22 years than I would taking half of it up front, ignoring the possibility of making more money with that up front payment.

I guess my point is, it's not such a clear choice, and it's not necessarily foolish to take the up front payment.

EDIT: unclaimed annuity payments are paid to the winners estate.



Source: https://www.powerball.com/faqs

Before anyone collects, they need to talk with financial advisors, lawyers, and estate planners. I suspect somewhere in there will come the recommendation to create a trust and have the trust claim the ticket. If that works, the trust should collect seamlessly for 30 years and help keep you anonymous even in states where someone has to come forward publicly.

 

[WedgeRock]

I suspect somewhere in there will come the recommendation to create a trust and have the trust claim the ticket. If that works, the trust should collect seamlessly for 30 years and help keep you anonymous even in states where someone has to come forward publicly.

Even a trust acts through it's trustees...

 

[Saoliver]

Even a trust acts through it's trustees...

You sound like a lawyer.

 

[beyondtilt]

One hell of a weekend

 

[WedgeRock]

You sound like a lawyer.

 

[99%evil]

 

[99%evil]

I’d be above the law, I could buy anyone

E. McCracken

 

[inapinch]

View attachment 1206301
I’d be above the law, I could buy anyone

E. McCracken

God that’s my fav movie. I was just searching online for a mini earn McCracken as a card capper

 

[Himewad]

 

[chipinla]

I would pay to have the movie “Saw” remade shot for shot with the original actors.

But I would have Cary Elwes dressed as the ‘Dread Pirate Roberts’ for the entire thing.