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Re: Powerball Billion dollar winner
[Re: beaverpeeler]
#8117380
04/08/24 11:54 AM
04/08/24 11:54 AM
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Joined: Dec 2006
Posts: 8,441
NWWA/AZ
Vinke
trapper
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trapper
Joined: Dec 2006
Posts: 8,441
NWWA/AZ
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You have to give half, before taxes to the beaver gods....
Slightly used Shoes 4 sale……………
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Re: Powerball Billion dollar winner
[Re: beaverpeeler]
#8117381
04/08/24 11:57 AM
04/08/24 11:57 AM
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Joined: Dec 2006
Posts: 11,286
Oregon
beaverpeeler
OP
trapper
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OP
trapper
Joined: Dec 2006
Posts: 11,286
Oregon
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I was worried about it since my wife bought a $6 ticket.
It sure is an interesting scam that governments run. My wife is always fond of pointing out that In Colombia there are no income taxes collected. But they do have a national lottery and high usage taxes like on electricity and imports. In Oregon's case the winner will have to pay 8% of his/her winnings to the state of Oregon because we do have income taxes. And after the 24% or more federal hit and opting for a lump sum payment it is estimated that the winners 1.33 Billion ticket will be reduced to a one time 330 million check issued by the Oregon state lottery.
So in essence, 1 billion of the prize does not go to the winner!!!!
My fear of moving stairs is escalating!
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Re: Powerball Billion dollar winner
[Re: beaverpeeler]
#8117386
04/08/24 12:03 PM
04/08/24 12:03 PM
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Joined: Feb 2016
Posts: 3,581
Kentucky
ky_coyote_hunter
trapper
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trapper
Joined: Feb 2016
Posts: 3,581
Kentucky
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Like Boco, I wouldn't wish that curse on anyone...Everyone thinks they want in on that action, but I sure don't.
I'm happy with comfortable & simple living.
Member - FTA
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Re: Powerball Billion dollar winner
[Re: HayDay]
#8117388
04/08/24 12:03 PM
04/08/24 12:03 PM
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Joined: Dec 2019
Posts: 1,761
Iowa
CTRAPS
trapper
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trapper
Joined: Dec 2019
Posts: 1,761
Iowa
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Ok, faced with the choice, who would take $621M lump now vs. $45M per year for next 30 years? If the payments continue and go to my estate if I die, I vote the latter. Do you think a person could live on only $45M a year? 
Life Member: ITA, IBA & NRA. Member of SA, FTA & NTA
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Re: Powerball Billion dollar winner
[Re: beaverpeeler]
#8117406
04/08/24 12:22 PM
04/08/24 12:22 PM
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Joined: Mar 2018
Posts: 2,238
Missouri
HayDay
trapper
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trapper
Joined: Mar 2018
Posts: 2,238
Missouri
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OK, got out the financial calculator, and think you guys may be right. Take the lump sum. Mathematically, they are the same.
The $1.3B taken over 30 years is something like $45M per year. If they offer a lump sum of $621M instead, discount rate they use is close to 6%, which is doable as investments go.
If one invests the full $621M today at 6%, with compound interest, it grows to $3.5B in 30 years.
If one takes the $45M for 30 years and invests that at 6% per year (sinking fund), that also grows to $3.5B in 30 years.
So all else being equal, bird in the hand. That is assuming you actually invest it all. Nobody does. Most blow thru it and end up right back where they started. If payments continue to one's estate, the advantage of payments might be to protect you from yourself. Space it out to keep from blowing it all.
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Re: Powerball Billion dollar winner
[Re: beaverpeeler]
#8117436
04/08/24 01:05 PM
04/08/24 01:05 PM
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Joined: Aug 2011
Posts: 45,539
james bay frontierOnt.
Boco
trapper
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trapper
Joined: Aug 2011
Posts: 45,539
james bay frontierOnt.
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It would be more than a full time job and a ton of headaches trying to keep the money.
Be just like a calf moose in 4 feet of snow surrounded by wolves eating you alive one chunk at a time.
If I won that much money I would try to get rid of most of it to family,friends and charity.
Last edited by Boco; 04/08/24 01:06 PM.
Forget that fear of gravity-get a little savagery in your life.
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Re: Powerball Billion dollar winner
[Re: beaverpeeler]
#8117532
04/08/24 03:43 PM
04/08/24 03:43 PM
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Joined: Dec 2006
Posts: 11,286
Oregon
beaverpeeler
OP
trapper
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OP
trapper
Joined: Dec 2006
Posts: 11,286
Oregon
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Shoot, I'd probably have to start locking the door at night. Major drag!
My fear of moving stairs is escalating!
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Re: Powerball Billion dollar winner
[Re: HayDay]
#8117629
04/08/24 06:01 PM
04/08/24 06:01 PM
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Joined: Apr 2016
Posts: 204
SE Montana
BigSky
trapper
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trapper
Joined: Apr 2016
Posts: 204
SE Montana
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OK, got out the financial calculator, and think you guys may be right. Take the lump sum. Mathematically, they are the same.
The $1.3B taken over 30 years is something like $45M per year. If they offer a lump sum of $621M instead, discount rate they use is close to 6%, which is doable as investments go.
If one invests the full $621M today at 6%, with compound interest, it grows to $3.5B in 30 years.
If one takes the $45M for 30 years and invests that at 6% per year (sinking fund), that also grows to $3.5B in 30 years.
So all else being equal, bird in the hand. That is assuming you actually invest it all. Nobody does. Most blow thru it and end up right back where they started. If payments continue to one's estate, the advantage of payments might be to protect you from yourself. Space it out to keep from blowing it all.
Don't forget Fed and State taxes. After those it's closer to $300M.
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Re: Powerball Billion dollar winner
[Re: beaverpeeler]
#8117666
04/08/24 06:38 PM
04/08/24 06:38 PM
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Joined: Dec 2006
Posts: 11,286
Oregon
beaverpeeler
OP
trapper
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OP
trapper
Joined: Dec 2006
Posts: 11,286
Oregon
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It's already reported in the Oregonian that with all the deductions the winner would walk away with 330 million. Oh, and in Oregon you can't remain anonymous. When you claim your prize they'll post your name and photo.
My fear of moving stairs is escalating!
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Re: Powerball Billion dollar winner
[Re: beaverpeeler]
#8117695
04/08/24 07:07 PM
04/08/24 07:07 PM
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Joined: Mar 2020
Posts: 7,375
W NY
Turtledale
trapper
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trapper
Joined: Mar 2020
Posts: 7,375
W NY
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I'd wouldn't invest a dime, I'd live life large! Trap, fish, hunt and spoil the family. Let them invest what I give them.
NYSTA, NTA, FTA, life member Erie county trappers assn.,life member Catt.county trappers
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Re: Powerball Billion dollar winner
[Re: beaverpeeler]
#8118373
04/09/24 04:11 PM
04/09/24 04:11 PM
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Joined: Dec 2006
Posts: 11,286
Oregon
beaverpeeler
OP
trapper
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OP
trapper
Joined: Dec 2006
Posts: 11,286
Oregon
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^^^That's what I always think after season is over and no more money rolling in. LOL
My fear of moving stairs is escalating!
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Re: Powerball Billion dollar winner
[Re: Boco]
#8118391
04/09/24 05:08 PM
04/09/24 05:08 PM
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Joined: Aug 2007
Posts: 5,823
Sauk County, WI
Patrice
"TMan Feed Gestapo "
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"TMan Feed Gestapo "
Joined: Aug 2007
Posts: 5,823
Sauk County, WI
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Winning that would ruin your life. Not if you are halfway responsible and intelligent. It would be nicer to avoid publicity, however, if you won in a state that does not require making your identity public.
WTA District 9 Director ... Go D9!
Member: WTA, Intertel, Mensa (Trappers ain't stupid.)
Life Member: NRA
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