The US Powerball jackpot - silly, silly amount.

Droolinggimp · 7 Nov 2022 at 12:29

BBC news article

So the US Power ball jackpot has climbed to $1.9 BILLION (£1.7 BILLION) after no one won it last week end.

$1.9 BILLION!!!!!!!

I mean, what would anyone actually do with that, minus the taxes of course. Still works out about $900 MILION.... I can imagine if there was a single winner, they would be old, be plastered all over the news and get harassed for the rest of their lives.
Before the usual stupid person tax posts appear, its a couple of dollars, what's wrong with parting with a few dollars to have that bit of excitement for a few days waiting for the draw.

Anyway.... $1.9 Billion!!!!!!

Droolinggimp · 7 Nov 2022 at 12:45

Here so I am lead to believe. Or here

Droolinggimp · 7 Nov 2022 at 12:50

el_dazza said:
Article says most people take the 'give it to me now' option, forfeiting over half of their winnings. That is just baffling to me. Over 60m a year for the next 29 years, or 900m if you take it now. Americans really aren't smart are they.

Either way, it's more than enough to be happy with. Would their be risk of losing the money if you take yearly payments? Like, if some new law comes into play, of taxes sky rocket. regardless, anyone not investing any of the millions per year are a bit dumb

Droolinggimp · 7 Nov 2022 at 12:54

el_dazza said:
Something more productive than completely forfeiting a billion dollars? Give it to charities or something? Seems utterly bewildering that someone hits a once in a lifetime jackpot only to say 'nah it's fine, keep a billion as a tip'

I guess its the mind set of many Americans, I want it now.

Droolinggimp · 7 Nov 2022 at 13:01

el_dazza said:
I guess if you're 60+ years old then yeah, you'd go for the lump sum, damn well enjoy it now. For someone a bit younger then the longer term is sensible..

true but, lets say a 20 year old won it and opts for the lump sum. lives to be 80, thats 60 years having 900million. I am sure they could live off 15m a year. Plus you have the interest on top, maybe if they are savvy, they will invest. It makes no difference really whether they go for lump or yearly payments.