Powerball dreaming. Annuity or Lump Sum

[DLgal]

Unfortunately for me California is not one of them.

I'm so glad I have a Spanish last name. I can't possibly be the only person in CA with my name, so that helps a bit. I'd just be like "ugh, I WISH I was the winner!"

And I'd move immediately so I would no longer be associated with the city I currently live in.

 

[TAX GUY]

Reading some of these comments... some of you should seriously consider a tax planner if you win

And the back and forth about the IRS and withholdings, taxability, etc..... probably best to leave that to the experts too


new jackpot of an estimated $1.9B...... that's a lot of cabbage. I'd rather have a 1 in 292M chance of winning (alone) than no chance.

 

[Mackenzie Click-Mickelson]

probably best to leave that to the experts too

Absolutely and I would add, research this carefully and ask questions of a company you think you might use. Make sure you know what the business practices are of whatever company you go with

 

[bcla]

I'm so glad I have a Spanish last name. I can't possibly be the only person in CA with my name, so that helps a bit. I'd just be like "ugh, I WISH I was the winner!"

And I'd move immediately so I would no longer be associated with the city I currently live in.

It's based on the retailer, so if someone with a fairly common name won in California, the first place scammers might start is with people with that name living near the store. I haven't seen middle names being used in California Lottery announcements, so that could increase the pool of candidates. I bought a few tickets while I was on vacation in Southern California, so that could make it harder to track me if I won anything that needed to be reported.

I would feel really bad though if someone with the same name won and there are random people who get harassed.

 

[DLgal]

My plan at this point is run the clock out on claiming the prize. You have one year to claim a Poweball prize. By then, everyone will have forgotten about the huge jackpot and there won't be much media attention when the winner comes forward.

 

[bcla]

Absolutely and I would add, research this carefully and ask questions of a company you think you might use. Make sure you know what the business practices are of whatever company you go with

I've heard that a lot of lottery winners just go with one of the major financial companies that have wealth management operations. They can generally refer a client to all the other financial advisors needed.

 

[Mackenzie Click-Mickelson]

I've heard that a lot of lottery winners just go with one of the major financial companies that have wealth management operations. They can generally refer a client to all the other financial advisors needed.

Sorry that was a tongue in cheek playful comment toward's tax guy's place of employment given details provided in another thread. Wasn't meant to be a serious comment hence the wink

 

[SgtTibbs]

Lump for sure, as others have pointed out you can't trust the state to pay regularly for 20 years.
From there, 2% off the top to "Monty Brewster" and live off conservative investments from there on out making this generational changing money.

As for the "Monty Brewster" bit, I'm renting out New Orleans square for a night. Who want's to party?

 

[Mackenzie Click-Mickelson]

as others have pointed out you can't trust the state to pay regularly for 20 years.

We had this discussion last year sometimes, my husband and I talking about how I believe IL has struggled to pay back winners for example over the years, etc. It's one of those things not necessarily mentioned when discussing which option. I used to say annuity payment when I was younger but that is not so clear cut as it used to be.

 

[bcla]

Sorry that was a tongue in cheek playful comment toward's tax guy's place of employment given details provided in another thread. Wasn't meant to be a serious comment hence the wink

OK. Mixing up all the silly comments with the dead serious ones. But I think it's pretty obvious that many here (myself included) have been daydreaming about what they would do in case they won a big jackpot. For something that's so rare, there are a lot of serious news stories on what to do and how these things get handled.

I'm still trying to figure out what happened with the case where someone bought a $10 million prize scratch-off lottery ticket (cost $20) and he told his roommate about it, although he thought he had won maybe $10,000. His roommate switched it out with a ticket he bought and doctored to make it look like a winner. When he brought it in to a lottery office they told him it was faked. Then his roommate went to a lottery office to try and redeem the prize. They did the typical thing for large prizes, which was go back to security camera footage required by the California Lottery and they saw who bought the ticket. Granted it's easy enough to give them away as gifts (I've even seen lottery commercials encouraging that) but in this case it was obvious that it wasn't a gift.

https://www.cbsnews.com/news/calif-man-allegedly-stole-winning-10m-lottery-ticket-from-roommate/

 

[Mackenzie Click-Mickelson]

But I think it's pretty obvious that many here (myself included) have been daydreaming about what they would do in case they won a big jackpot.

We've been daydreaming for sure over at our house. We had a get together with our DISer friends this past weekend and we were all talking about it. Travel was a big one but none of us would touch the money without getting proper advice on various ways to treat that kind of money.

 

[Pooh2]

My CPA (whom I gave birth too) told me that way to go is annuity.
But since I am nearing my expiration date, I would spend my days trying to spend and giveaway 80 percent of my winnings.

 

[starry_solo]

I'm so glad I have a Spanish last name. I can't possibly be the only person in CA with my name, so that helps a bit. I'd just be like "ugh, I WISH I was the winner!"

And I'd move immediately so I would no longer be associated with the city I currently live in.

i would move before claiming the lottery winnings to some city I never plan to actually stay in.

 

[starry_solo]

OK. Mixing up all the silly comments with the dead serious ones. But I think it's pretty obvious that many here (myself included) have been daydreaming about what they would do in case they won a big jackpot. For something that's so rare, there are a lot of serious news stories on what to do and how these things get handled.

I'm still trying to figure out what happened with the case where someone bought a $10 million prize scratch-off lottery ticket (cost $20) and he told his roommate about it, although he thought he had won maybe $10,000. His roommate switched it out with a ticket he bought and doctored to make it look like a winner. When he brought it in to a lottery office they told him it was faked. Then his roommate went to a lottery office to try and redeem the prize. They did the typical thing for large prizes, which was go back to security camera footage required by the California Lottery and they saw who bought the ticket. Granted it's easy enough to give them away as gifts (I've even seen lottery commercials encouraging that) but in this case it was obvious that it wasn't a gift.

https://www.cbsnews.com/news/calif-man-allegedly-stole-winning-10m-lottery-ticket-from-roommate/

i looked up CDCR inmate search and not there. Also not in Sacramento county or solano county jail. Went to look at Solano county superior court case search, looks like case was over by late 2019. Some type of jail sentence but doesn’t say what

 

[DLgal]

i would move before claiming the lottery winnings to some city I never plan to actually stay in.

For sure. I'd rent an apartment in the desert or something but never actually move in, just to say that's where I am "from."

 

[starry_solo]

For sure. I'd rent an apartment in the desert or something but never actually move in, just to say that's where I am "from."

exactly. So if In So Cal, rent something up north and say was on vacation down south when the winning ticket was purchased, lol.

 

[bcla]

i looked up CDCR inmate search and not there. Also not in Sacramento county or solano county jail. Went to look at Solano county superior court case search, looks like case was over by late 2019. Some type of jail sentence but doesn’t say what

I was more or less wondering if the California Lottery ever awarded the prize. I would think they did, but I can't find any releases that indicate that the prize was ever paid out.

The latest public thing I could find about the perp is that he wanted a jury trial.

https://www.mercurynews.com/2019/06...m-lottery-ticket-will-try-his-luck-with-jury/

 

[Carol_]

I may already be a winner!
Anybody else think this delay is INCREDIBLY SUSPICIOUS ?
Smells funny. That is all.

 

[_19disnA]

Problem some technical issue. But the looney tune conspiracy crowd will likely be all over social media about it..........LOL. Gives them something new to talk about.

 

[sam_gordon]

Problem some technical issue. But the looney tune conspiracy crowd will likely be all over social media about it..........LOL. Gives them something new to talk about.

What technical issue can cause a delay of the drawing? The machines not working? Surely they have spares. Cameras/transmission? Heck, pull out a phone and live stream it. "Transparency" (important in anything) requires more than saying "technical issues". Just my .02.