20 year old Florida man wins $451m powerball - Page 3
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  1. #21
    Senior Member hatcity's Avatar
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    Quote Originally Posted by haydenfox!#$ View Post
    What are the alternatives to a lump sum payout that make more sense?
    The $450 million is based on a 20 or 30 year payout.
    he lost almost half the value by taking lump.

    I think I could last on $15 mil./year
    I was not born stupid, just had lots of practice

  2. #22
    Senior Member Reptile Dysfunction's Avatar
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    Quote Originally Posted by hatcity View Post
    The $450 million is based on a 20 or 30 year payout.
    he lost almost half the value by taking lump.

    I think I could last on $15 mil./year
    If the $15 million a year doesn't work out, call J. G. Wentworth, 877 Cash Now, and let them fleece you.

    "If you think health care is expensive now, wait until you see what it costs when it's free" - P. J. O'Rourke

  3. #23
    Senior Member navigator2's Avatar
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    Quote Originally Posted by hatcity View Post
    The $450 million is based on a 20 or 30 year payout.
    he lost almost half the value by taking lump.

    I think I could last on $15 mil./year
    Meh. Best to take the lump sum and run. Invest wisely and easily triple the stated amount over time.At his age, that's worse case. Besides, take the tax hit in this new climate, and guarantee some azzhat like Bernie Sanders can't take it away from you later on future installments. Winning!

  4. #24
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    Assuming the $281.2m is taxed at the top rate of 37% he has approximately $177m to invest. At a return of 4% (after taxes) that means it spins off $19,400 a day. Probably could live very well off the interest. ;)

    Wishing him and his family well.

  5. #25
    Senior Member Mackeral Snatcher's Avatar
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    [QUOTE=Flats2blue;3104561]Assuming the $281.2m is taxed at the top rate of 37% he has approximately $177m to invest. At a return of 4% (after taxes) that means it spins off $19,400 a day. Probably could live very well off the interest. ;)

    Wishing him and his family well.[/QUOTE]

    Yep, hope he doesn't blow it.
    I'd give my left nut to be in his position.
    THERE SHOULD BE NO COMMERCIAL FISHING ALLOWED FOR ANY SPECIES THAT IS CONSIDERED OVERFISHED.

  6. #26
    Senior Member jcbcpa's Avatar
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    [QUOTE=Mackeral Snatcher;3104562]
    Quote Originally Posted by Flats2blue View Post
    Assuming the $281.2m is taxed at the top rate of 37% he has approximately $177m to invest. At a return of 4% (after taxes) that means it spins off $19,400 a day. Probably could live very well off the interest. ;)

    Wishing him and his family well.[/QUOTE]

    Yep, hope he doesn't blow it.
    I'd give my left nut to be in his position.
    I think the 281 mil is his after tax. His winnings were 451 mil per the op.

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    The intelligent man finds almost everything ridiculous, the sensible man hardly anything.
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  7. #27
    Senior Member stc1993's Avatar
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    They include the estimated 30 yr interest in the total amount. There never was any $451 million.

  8. #28
    Senior Member navigator2's Avatar
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    Quote Originally Posted by stc1993 View Post
    They include the estimated 30 yr interest in the total amount. There never was any $451 million.
    This. The 281 is the PV of 451. Lotteries be pimpin numbers, yo! Even still..................

  9. #29
    Moderator ferris1248's Avatar
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    Good luck to him. Hopefully he already has accountants, CPA's, financial advisors and attorneys setting up various strategies to protect him from his family, friends, shysters and his self.
    "That which is hateful to you, do not do to your fellow. That is the whole of the law. The rest is commentary."

    Rabbi Hillel (c20 BCE)

  10. #30
    Senior Member Mango Man's Avatar
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    Quote Originally Posted by Mackeral Snatcher View Post
    Hookers and blow.
    Lots and lots of hookers and blow.
    You're to damn old. You'd be dead in a week. But, with a huge smile on your face.


    America will never be destroyed from the outside. If we falter and lose our freedoms, it will be because we destroyed ourselves.
    Abraham Lincoln

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