I read the story and it seems that his family and he won the jackpot, as they put the money in a pot and he placed the bet, so he will have to give it to the family as well as his wife and him. I say great for him and I hope that he enjoys it fully. Being playing the lottery for the last 40 years and have never won anything except $10.00
Fumanchewd From , joined Dec 1969, posts, RR:
Reply 10, posted (9 years 3 months 1 week ago) and read 1560 times:
Quoting Andz (Reply 3): "an old man, turned 98, he won the lottery, and died the next day.."
I hate that song. That's not irony just sh#t luck. Same with the rain on a wedding day. That's what happens when teenagers write their own music. She should have just let someone else write it just like all of the other teen bimbos.
Srbmod From , joined Dec 1969, posts, RR:
Reply 11, posted (9 years 3 months 6 days 23 hours ago) and read 1551 times:
Quoting TedTAce (Reply 5): Yeah, it's absolutely tragic. Definately a cautionary tale of power (money) without wisdom.
It happens more often then you think, and it's usually the only time after the initial press circus that these folks make the news. There was a young woman here in the Atlanta area several years back whose portion of the Big Game jackpot was around 86 Million. She took the lump sum and hasn't been heard from since.
Jcs17 From United States of America, joined Jun 2001, 8065 posts, RR: 37
Reply 14, posted (9 years 3 months 6 days 18 hours ago) and read 1516 times:
Yes, you have to pay US income taxes on all winnings. However, state income taxes vary from none to 8%+, so your best bet is to move to a state with no income tax.
I bought a few Powerball tickets and was quite distraught when I didn't win. My chances were only 5 in 120,000,000! I never play the lottery unless there is a jackpot over $200 million. I don't like to gamble, as I think it's a waste of money, but when that sort of dough is on the table I have to go for it.
I actually did a little bit of research and your best bet, by far and away, is to take the annual payments. There is about 50+ million left on the table when you take the lump sum. Plus, it makes it a bit harder to blow it all.