Powerball Questions - Page 3

Stray · ‎04-20-2013

Your chances are better getting hit by a meteorite than winning the power ball.

StylishLady · ‎03-11-2010

ZZZZZZZZZZ---POW !!! Wow, that meteorite just missed me.

FYI---this site lists all lottery type games in the US:

http://www.alllotto.com/

Lipstickdiva · ‎03-10-2010

@VCamp2748 wrote:
I won't buy a ticket, but if I did & I won, I think my credit union would ignite if I tried to deposit such a large sum. Besides, most banks & credit unions only have FDIC insurance up to $100,000. Yup, the winner(s) definitely have some things to do about all those pesky details before claiming their prize(s). Personally, I think it's waaaayyy too much money for one person, or a small group of people. It can only bring a lot of heartache unless the winner(s) give most of it away to charity.

Isn't FDIC insurance $250,000? Still way under regardless.

By the time you take taxes out of that money, it's a whole lot less.

I don't think it CAN only bring a lot of heartache. If that's all it does for someone, that is their own fault. That money can do an enormous amount of good.

Plaid Pants2 · ‎03-14-2015

Here's the thing, when the winner(s) find out that they have won, you keep your mouth SHUT about having won.

That way NOBODY knows why you are suddenly going out of town.

Marp · ‎03-09-2010

@Stray wrote:
Your chances are better getting hit by a meteorite than winning the power ball.

Yet at some point there will be a winner/winners and the only way to be part of the possibility is to buy a ticket.

What is good for the goose today will also be good for the gander tomorrow.

10000Nicknames · ‎11-30-2013

@10000Nicknames wrote:
Wouldn't it be nice if they put a "cap" on the payout, say at one million dollars? Then, if the jackpot rises over a million, the rest goes to charity or something (and the tax factor is reduced) It just bothers me a little that tomorrow, we could have several new millionnaires while over 633,000 people remain homeless. Don't get me wrong - I played, but it was just a thought.

OOPS - I meant capping at one BILLION dollars (not one million since the jackpot STARTS at 40 million). My mistake. All those dollar signs made me a little dizzy.

Laura14 · ‎06-09-2014

A couple of the "Sharks" were on GMA today and they had very good advice if you happen to be that one tonight.

Pay your taxes and deposit the money in your bank account. Yes, FDIC only insures up to $250,000 right now so make sure your bank is going to stick around for the next couple of months. Most of us probably bank with the big institutions so not a problem.

Take a breath and spend nothing. Wait until you invest your principal money (their suggestions were government bonds (zero risk) and several triple aaa blue chip corporations that you know are not fly by nights. You do that and let the principal sit in the bonds and stocks and then live off of the interest and dividends only. Never touch the principal. You and generations of you will live quite well for a very long time.

And their advice for all the hand outs your family is going to want? Tell them they can have a gift from you ONE TIME or the other's suggestion was to always say yes but only if my accountant approves it. That lets the accountant be the bad guy and turn your family down if it's a nonsense request or you have people coming out of the woodwork.

Good Luck!

Allegheny · ‎03-19-2010

Also suggested on one of our local news type shows, is if you have the winning ticket is to get a safe deposit box at the bank and put it there until you have made your arrangements.

Another suggestion was to set up a charitable trust and any requests for money must make an application to the trust.

chrystaltree · ‎05-10-2010

The bank?????? This being 2016, I'm pretty sure the money is electronically deposited into your account. They aren't going to give anyone a paper check for that kinda money.