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OT- 1 winning Mega Lotto ticket sold in Illinois

I have a confession to make. I went to Illinois and purchased the winning ticket. I plan on donating all of my winnings to the Bradley basketball program so I can lay my claim to being their most bestest fan ever.
 
Chico said:
Az, next time I play golf in Gold Canyon I'll hike up there and see if I can find it for you. 50-50 split ok?
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Da Coach said:
I was just out there last week, and I think I must have found it. I was climbing in the hills near Tortilla Flats and came upon a dusty lotto ticket at the base of this big old saguaro. Does this look like the place you stashed it, AZ?

DSC02910.jpg
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DC, the big green cactus in the middle looks like the one! Go ahead and turn in the ticket... You can, however, send me my half, $55M, today! :lol::lol:

I hid the ticket there when I went out behind the Tortilla Flat bar to find a cactus to hid behind while relieving myself! :oops:

Sorry Chico, DC beat you to the ticket. :-P
 
AZ BU Fan said:
DC, the big green cactus in the middle looks like the one! Go ahead and turn in the ticket... You can, however, send me my half, $55M, today! :lol::lol:

I hid the ticket there when I went out behind the Tortilla Flat bar to find a cactus to hid behind while relieving myself! :oops:

Sorry Chico, DC beat you to the ticket. :-P
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That's a great little bar in a little berg that says "population 6". Hope you didn't get too close to that cactus.
 
If the lottery winner of a $200 million+ jackpot decided to negotiate a lump sum, they'd probably get at least
$154 million...and if you invest that it'll pay surely at least a 5-6% yield, maybe more...

Thus the earnings would be at least $9-10 mil/per year or roughly $25,000 per day - so..
Why are these winners, if they exist, willfully staying in hiding and waiting -
they are losing $25K per day by not claiming their prize!!!
 
Another attempted scam- Illinois woman submits Mega Lotto ticket with winning numbers. But her lottery ticket was purchased online about 8 minutes after the winning numbers were drawn. She altered the ticket, and an email receipt she got for the ticket, and tried to submit those altered documents to the Illinois Dept. of Lottery and claim a part of the $658 million prize.
Now she has been arrested and charged with attempted theft and forgery, according to the Cook County sheriff's office.
http://www.chicagotribune.com/news/...lony-charges-instead-20120501,0,4108685.story
 
Hey T

Hey T

If the lottery winner of a $200 million+ jackpot decided to negotiate a lump sum, they'd probably get at least $154 million...and if you invest that it'll pay surely at least a 5-6% yield, maybe more...

I would love to get a 5-6 % yield. I struggle to get 1% . PM me with a few hints. Could you? Any help is appreciated. W
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You must be looking just at bank CDs.
There are mutual funds that can do a lot better.

I am no investment expert, but here are some government bond funds that are pretty safe and have much higher returns-
http://investing.money.msn.com/investments/top-performing-funds?Category=IP&Symbol=%24HF
http://investing.money.msn.com/investments/top-performing-funds?Category=GI&Symbol=$HF

and there are a lot of mutual funds that have double digit percentage returns if you are willing to take more risk
http://investing.money.msn.com/investments/top-performing-funds?Category=LG&Symbol=$HF
http://biz.yahoo.com/p/tops/all.html

Also, the Illinois Lottery pays a winner who chooses a lump sum cash payout 51% of the total, minus 28% more deducted for taxes-
http://www.lotto-insider.com/us/li-illinois-lotto.html
Therefore, a $200 million prize-winner will only get $73.44 million in a lump sum payout. And they are still required to pay any additional taxes not covered by that 28% deducted amount.
 
Da Coach said:
You must be looking just at bank CDs.
There are mutual funds that can do a lot better.

I am no investment expert, but here are some government bond funds that are pretty safe and have much higher returns-
http://investing.money.msn.com/investments/top-performing-funds?Category=IP&Symbol=%24HF
http://investing.money.msn.com/investments/top-performing-funds?Category=GI&Symbol=$HF

and there are a lot of mutual funds that have double digit percentage returns if you are willing to take more risk
http://investing.money.msn.com/investments/top-performing-funds?Category=LG&Symbol=$HF

http://biz.yahoo.com/p/tops/all.html
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Don't forget about REITs or BDCs, which offer high percentage yields with dividends, some of which give monthly payouts. My Roth IRA is loaded with those and since they are in a Roth IRA, I don't have to pay taxes on the dividends.

Even with all of the secondary offerings that REITs do, they are not that volatile and are less effected my market swings. Look at Annaly Capital, which is a company that not only survived the great recession, but kept paying out fats dividends the entire time. I bought into the company in September of 2007 at around a $17 PPS, and the stock is currently trading at a PPS in the $16.40s.

Also, the Illinois Lottery pays a winner who chooses a lump sum cash payout 51% of the total, minus 28% more deducted for taxes-
http://www.lotto-insider.com/us/li-illinois-lotto.html
Therefore, a $200 million prize-winner will only get $73.44 million in a lump sum payout. And they are still required to pay any additional taxes not covered by that 28% deducted amount
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Yes, they are. This will put them in the 35% tax bracket, so they will have to pay the additional 7% when they file their taxes next year, or they could make an estimated payment now. I don't think they will be hit with an estimated payment penalty, though, since the US FORM 2210 takes into account their prior year earnings.

They will also end up having to pay more on their "ordinary income", as they probably do not have it set up to have 35% withheld. If they are a retired couple, however, they may just have 401K Income or social security income, which at least is exempt from Illinois Income Tax.
 
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