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| Topic | Don't forget to buy your Mega Millions tickets |
| slacker03150 10/18/18 9:05:18 PM #50: | where are you guys getting your number from? You get a lot more than 175-200 million if you win the jackpot For instance I live in wisconsin, if I won and took the cash payout of 548m it would get taxed as income by both federal and state. federal got lowered to 37% and my state's tax would be 7.65% for a total of 44.65% that includes the 25% tax. The government automatically collects that 25% when you win, but it is counted towards the 37% that you owe, not in addition to it. So my personal payout would be 358 million. a far cry from 970m sure, but if I take 8 million for personal expenditures and play money and invest the rest expecting modest returns averaging 5% after 30 years (the time it takes to pay out on the larger amount) you could have 1.5 billion. even if you decide to take out some once in a while you can still get to a billion easy enough once you have that kind of cash to start. --- I am awesome and so are you. Lenny gone but not forgotten. - 12/10/2015 ... Copied to Clipboard! |
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