Comments on: The Lottery May Be a Stupid Tax http://www.worldwiderant.com/2007/10/25/the-lottery-may-be-a-stupid-tax/ ...pardon our progress! Thanks, The Management. Thu, 28 Aug 2008 04:23:22 +0000 http://wordpress.org/?v=2.5 By: Kevin http://www.worldwiderant.com/2007/10/25/the-lottery-may-be-a-stupid-tax/#comment-2390 Kevin Fri, 26 Oct 2007 06:11:16 +0000 http://www.worldwiderant.com/2007/10/25/the-lottery-may-be-a-stupid-tax/#comment-2390 One thing to consider is how often people who take the lump sum simply blow through the money. Sometimes it's smarter to take the annuity so that you limit the amount you can waste/lose. If you do some research on lottery winners you'll find that many who took the lump sum payout are now flat broke - having wasted or been bamboozled out of the winnings. Those that take the annuity give themselves time to learn how to manage large sums of money. One thing to consider is how often people who take the lump sum simply blow through the money. Sometimes it’s smarter to take the annuity so that you limit the amount you can waste/lose. If you do some research on lottery winners you’ll find that many who took the lump sum payout are now flat broke - having wasted or been bamboozled out of the winnings. Those that take the annuity give themselves time to learn how to manage large sums of money.

]]> By: andy http://www.worldwiderant.com/2007/10/25/the-lottery-may-be-a-stupid-tax/#comment-2389 andy Fri, 26 Oct 2007 03:30:14 +0000 http://www.worldwiderant.com/2007/10/25/the-lottery-may-be-a-stupid-tax/#comment-2389 Yes, I took that into account. Colorado's prize is equal to half the jackpot I believe... and then I assumed 45-50% of that would go to taxes before the winner sees a penny. Regardless, they gave up millions in the long run... I didn't post on the Bama game because it wasn't aired here in Denver (to my knowledge). :-) Perhaps I should meet up with the alumni group more often to watch games! Yes, I took that into account. Colorado’s prize is equal to half the jackpot I believe… and then I assumed 45-50% of that would go to taxes before the winner sees a penny. Regardless, they gave up millions in the long run…

I didn’t post on the Bama game because it wasn’t aired here in Denver (to my knowledge). :-) Perhaps I should meet up with the alumni group more often to watch games!

]]> By: Ed Graham http://www.worldwiderant.com/2007/10/25/the-lottery-may-be-a-stupid-tax/#comment-2388 Ed Graham Fri, 26 Oct 2007 03:21:28 +0000 http://www.worldwiderant.com/2007/10/25/the-lottery-may-be-a-stupid-tax/#comment-2388 Most lump sum payouts are less than half the jackpot. But still. Haven't seen you post on the Tennessee 17, BAMA 41 yet. Most lump sum payouts are less than half the jackpot. But still.
Haven’t seen you post on the Tennessee 17, BAMA 41 yet.

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