Posted on 10/23/2018 11:49:00 AM PDT by lowbridge
The head of the Mega Millions on Monday revealed the very first thing the potential winner of the game’s historic $1.6 billion jackpot should do: Sign the ticket and keep a low profile.
The simple yet sage advice came from Gordon Medenica, the game’s lead director and director of the Maryland lottery.
“Sign the ticket! Because keep in mind that little slip of paper is a billion-dollar bill — imagine that,” he said on NBC’s “Today.” “So you want to secure it and also be calm. Don’t be running to the ‘Today’ show the next day.”
Medenica also advised, “Get some good advice, get a good financial adviser, good lawyer, tax accountant, all that. Get your affairs in order. You’ve got between six months and 12 months to come and claim the ticket.”
(Excerpt) Read more at nypost.com ...
Pooling their money to buy more tickets supposedly to increase the odds of winning, but it’s only an infinitesimal improvement of the odds.
“I’m donating it all to Trump, to build that wall.”
I’d buy a mile of wall.
Never lend or give money to people. It almost never works out.
1. Once people find out you are handing out money, you are fair game for everyone. They will never let up.
2. People should earn their own money. If people think there is a money tree, they will quit working and hang around the tree. People never learn to behave with money if it comes free.
3. If you stop giving them money, they will hate you. Especially family.
I don’t think that would be correct taxation for an annuity.
The payments received would be 100% taxable income, as they are received, I believe.
Have a plan. Know how much you want to save, how much you want to invest (and (generally) in what), how much you want to give away (and where), how much you want to use for necessary expenses, how much you want to use for pleasure, etc., etc., etc.
Frankly, I think that I'd rather win a million dollars, than 1.6 Billion.
I like my life as it is. A Million Bucks would make things much easier - retirement, college for WBill Jr, maybe some nice vacations. I might retire early.
1.6 Billion would complicate things too much. But, I suppose that I could get used to it.
And have security answer your phone—you’ll get a lot of calls saying “Send me money or I’ll ___ you up.”
Because 12 people in a pool can kick in $4/a piece and get $48 dollars printed in as few tickets as possible to increase the odds per ticket of a higher payout.
They probably said “trust” but unlikely that they said “blind trust.”
Great advice. I'm going to Shanghai, where multimillionaires are a dime a dozen and I can buy fab jewelry without raising eyebrows.. Gorgeous place. Loved it decades ago when I was there, will surely love it again.
Hey! If I won, I might finally find my brother who decided to have nothing to do with my family a couple decades ago.
where do you put the proceeds of a 1.6 billion dollar winning ?
Are you trying to horn in on my retirement plan?
Mathematically, yes. Real world, not so much.
In my pockets. Where else?
Yup,that was just recently...in New Hampshire.It got a lot of coverage on local Boston stations,which many people in New Hampshire watch.
NO- That is the best advice, because you have to prove it is YOUR ticket. If you misplace the tickets-—anyone can sign it & get the $$$.
Many states do NOT require you to be ID’d. Many will allow you to remain anonymous.
If you don’t have a criminal background, you could always change your name.
But by putting the ticket in a safe place and opening a Blind Trust before cashing in the winner can then be kept secret.
It isn’t easy to “park” that much dough, so you will at least have to make some early financial decisions. FDIC only covers up to $250,000 per depositor, per bank, so if you want to park your millions in the bank, you’re gonna need to go to a helluva lot of separate banks.
I like your style.
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