LogFAQs > #966935175

fire_bolt posted...

The jackpot is something like $1,200,000,000 right now, right? As in 1.2 billion dollars US. Taking the lump sum would *still* get you like $400,000,000 after taxes, compared to like $22,000,000 a year via the annuity. Both are ridiculous sums of money, the difference is $400M an even semi-smart person can do A LOT more with it because they have the money an leverage to hire really smart people and the capitol to swing that lever hard. Like you could blow $200,000,000 on the dumbest shit you can thing of and invest the other $200,000,000 and never work again. In fact, not only would you never work again but you could pick 50-60 other people who *also* would never have to work again based off average market returns on a $200M investment if you were so inclined. Assuming a 9% ROI it works out to $18M, or just slightly less than the annuity would pay out AFTER you waste half your capitol and if you divide that 50 ways you could give 50 people an annual salary of $360K for doing fuck all (or give them $50K and keep $2.5M annually for yourself)

My point is this: Regardless it is a ridiculous amount of money. Taking it up front lets you do the most ridiculous amount of shit and still come out of top if you even half-ass take care of it

You don't need to understand any of that. You can hire people whose sole job is to take your money and use it to make more money. Just gotta make sure you hire people you trust. Stick with big firms who have waaaaaaaaay more at stake if they fuck you over for your pitable millions and it'll be fine

I'm more or less speaking about the lower lotteries. The ones that are 10 million and below. Maybe even up to 20 million. Taking a lump sum for those to me is just stupid. I can understand if its the Billion dollar lottery, though even then I get the feeling that I would get people showing up at my doorstep begging for money.