Posted on 11/10/2013 5:47:21 AM PST by rustyboots
the couple were never married.
They lived together for 10 years and have a child together.
They’re married...
I would advise anyone in that situation (as well as NFL/NBA/MLB/NHL rookies with big signing money) to put 30% down on a couple of well-located apartment buildings in non rent controlled cities, and hire professional management. They'll pay for themselves and provide a modest income stream for the rest of your life. And push come to shove, if you pi$$ the rest away you can always move in to the next vacancy!
If the idiot wanted out of the relationship, he should have given her $76M and said goodbye.
WHAT?
He couldn’t have been happy with his $76M??
Sending money to the D.R. was probably a big mistake, as it will likely end up in political pockets.
You have to be careful even when you think you’re helping a charity.
At least her child support should go up.
And speaking of who benefits from gambling, I’m always amazed that we permit casinos on Indian reservations, yet running a casino is illegal for the rest of us. And that is solely due to the Indians belonging to a specific ethnic group. How this is legal to allow an activity to a specific ethnic group and ban it for others is beyond me.
omg lol
Anybody check the sofa cushions?
Guy should have taken the annual payments. If the jackpot was $338M the annual payment would have been approximately $11M minus about 45% for state and fed income tax. He would have cleared close to $186M over 30 years. If you take the lump sum you get about half of the jackpot & then have to pay taxes on that. That’s the missing money right there.
Next thing he should have done was collect the cash and hit the boogie down minus the girlfriend. Way back in 1988 I guy from Philly won a $66M jackpot and he and his long time girlfriend cane forward and claimed it. Problem was he never divorced his first wife. The ex got 35%, the girlfriend got 50% and he got 25%. What a fricking bonehead...
Fat finger correction: the ex only got 25%
The reason I would never take annuity payments is that I expect the state and federal governments to raise the tax rate. So, I look forward to getting less and less each year due to taxes, and what I get worth less due to the “quantitative easing” policies of the Federal Reserve. Take the cash pay out, and only worry about paying taxes on what you then earn in the future. Careful planning can reduce that. One hopes.
That is the big gamble, rising tax rates
I just might move to Las Vegas if I win big. I won't gamble but will pretend that I am. I'll just travel from hotel to hotel, living in suites, eating at the best restaurants and sip tall umbrella drinks at poolside for about six months or so, catching up on all my reading with my Kindle.
Then I'll go back home and tell everybody I'm broke. Spent it all at the baccarat tables. Then maybe they leave me alone.
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