...assuming he's so stupid he can't figure out how to MAKE some money by having the smaller amount, but all right now.
The store that sold it is one of our customers
Will there even be a U.S. dollar 5-10 years from now? if I won, I would take the lump-sum too.
...assuming he's so stupid he can't figure out how to MAKE some money by having the smaller amount, but all right now.
With all the nut cases and people with less than honest intentions, I sure hope he’s ready for the onslaught.
Noting that the statistical destiny of probably more than half of all lottery winners is to file for bankruptcy, it would probably have been wiser for this winner to accept multiple payments instead of taking the winnings all at once. Proverbs 17:16 comes to mind.
Stupid liberal writer. Liberals don’t understand simple math much less financial complexities.
An up front lump sum is based on present future value. And you are clear on the amount of taxes taken now instead of what a-hole politicians will do with the tax code in the future.
Also, if some is invested wisely, they will make MORE than taking it over time.
God I hate liberals.
Now that he’s known he’s going to have to move from his little house for his own safety.
I hope that his very first phone call is to a tax attorney and CPA. The sums involved are so large that missing a filing date or estimated tax payment by even one day or one dollar could involve YUGE penalties. Welcome to the real world Mr. and Mrs. Robinson. Let us hope he starts to understand why there is a Tea Party.
In 6 months he’ll be broke.
Well just because he told media he had no desire to move doesn't mean he won't though. Where he actually ends up living and where he legally on paper lives might be two different places. That is what I would do.
I fear, that even with the best of intentions, human nature (i.e. greed and jealousy) will quickly change these plans. The best outcome for them will be to swiftly make provisos for charities and spendthrift-type trusts. Money for the needy charities should be defined to a limited yearly budget controlled by a non-involved trustee who can only be over-ruled on a gift destination, not the amount. The spendthrift trust would only allow spending to a certain level except for medical and catastrophic incidences. Publicize these limits to a degree and then live within them. Every family member will have to have an emergency beacon on them at all times and a security response for the bad times.
I wonder how many satellite trucks and paparazzi are staking out their house already?