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Mega Millons

The more I think about it, the more I'd consider keeping only a few million and donating the rest.
 
People say “take the lump sum over the annuity and invest it and you’ll come out ahead!”

...what, because I couldn’t invest with $40M/year to play with? Lower risk imo and could still come out ahead quite handily after 30 years. The more I think about it the more I think I’d just become a VC/angel investor as my full time job instead of disappearing with the money. Seems like it’d be a lonely life and you’d start hanging out with other lonely rich people anyway sooner or later if you spent anything, so why not just stay here and take advantage of the “blend in with the herd” aspect of life in Palo Alto or something? I mean realistically we have hundreds of millionaires and multi millionaires, let alone a few billionaires, right here in the Bay Area. It’s a built in network of people who have been there done that with the money, foisted off / learned how to deal with people trying for a piece of the money, etc. Plus like I said a couple pages back most of my friends make more than me to begin with so I doubt much would change, they’re pretty self supporting. I think most of the ones who have to fend off long lost relatives are those who are surrounded by more people dependent on others for their well-being, whether that’s family, the government, whatever.
 
Abacinator said:
The more I think about it, the more I'd consider keeping only a few million and donating the rest.
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Do you have any idea how expensive F1 cars are to buy and maintain? Plus one just for display in the living room.
Don’t be giving away those millions just yet
 
UDRider said:
There are 302575350 combinations. It's two bucks a ticket. If someone has 600 something million laying around. Buy all combinations. Win, write off good chunk in taxes. Profit. Lol
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Yeah, I broke some off that down a few pages ago. Problem is if you aren't' the only winner. Being able to write off losses makes a HUGE difference though.
 
NorCalAthlete said:
People say “take the lump sum over the annuity and invest it and you’ll come out ahead!”

...what, because I couldn’t invest with $40M/year to play with? Lower risk imo and could still come out ahead quite handily after 30 years. The more I think about it the more I think I’d just become a VC/angel investor as my full time job instead of disappearing with the money. Seems like it’d be a lonely life and you’d start hanging out with other lonely rich people anyway sooner or later if you spent anything, so why not just stay here and take advantage of the “blend in with the herd” aspect of life in Palo Alto or something? I mean realistically we have hundreds of millionaires and multi millionaires, let alone a few billionaires, right here in the Bay Area. It’s a built in network of people who have been there done that with the money, foisted off / learned how to deal with people trying for a piece of the money, etc. Plus like I said a couple pages back most of my friends make more than me to begin with so I doubt much would change, they’re pretty self supporting. I think most of the ones who have to fend off long lost relatives are those who are surrounded by more people dependent on others for their well-being, whether that’s family, the government, whatever.
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The money factor on the annuity is 1.774

that's why you don't pick the annuity.

also, a fool and his money :laughing
 
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Eldritch said:
Holy Shit shivering sheep balls. So you can claim losses as a deduction, while using those spent losses to drive up the pot. That makes the take on buying a lotto a lot easier to obtain. The take is wildly increased in that case.
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dood did you not know why the gambling people go crazy cray for gambling????

its cuz of this taxhole loophole, they claim more losses and claim less wins (unless they hit a big jackpot and the casino is letting the county know) all day everyday.
 
funny, on the way home today, didn't see any lines of people at places that sell lotto. could it be that common sense got through to these people?
 
Welp. Guess I’m still going to work tomorrow.
 
No jackpot winners in California. Jackpot is going to be $2 billion if no one wins it tonight.
 
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Mike95060 said:
^ what is a "money factor" ?
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Eldritch said:
I assume he is referring to the Time Value of Money.
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Much like when you lease a car, it’s the “interest” rate

When you choose the lotto annuity they invest the lump sum into government bonds that earn you the total value guaranteed over 30 years

The money factor is the number you multiply the lump sum to get to the total pot value
 
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i really hope the person or group that won this donate some of the winnings to the people that were victims of the recent hurricanes. i mean, whats a few million when you just netted 850 to 900 million overnight???? i know,i know, wishful thinking....blah blah blah.....
 
:|
 

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spdt509 said:
i really hope the person or group that won this donate some of the winnings to the people that were victims of the recent hurricanes. i mean, whats a few million when you just netted 850 to 900 million overnight???? i know,i know, wishful thinking....blah blah blah.....
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I don't. I hope it's hookers and blow and they go out in a blaze of glory!
 
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