Don and Joyce Harvey of OKLAHOMA CITY won $105.8 million Powerball. They decided to receive a $33.3 million lump sum after taxes instead of the full amount paid out over 29 years. Now I am happy for them, exceptionally joyful. But I am thinking if it was me I would take the $105.8 million over the 29 years period. This is my mind, I lived on what I was earning at the time, have some bills, food, a little traveling, etc. What I earned helped out. Therefore I would take that $105.8 million divide it by 29 years and get an average of $3.648 million a year. That is superb. I would further divide that $3.648 million by 12 months and get an average of $304000 a month. Now that would cover a whole lot of bills, food, trips, etc for me for a long time. I would without doubt take that option. I believe I would gain more in that way.
Comments
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Mark_of_Cain said on Jun 30, 2007....
You forgot about taxes - the IRS won't. Lump sum or annunity payments, it usually works out that you're left with the same $33.3 million, or a little over a million a year after taxes. Not quite a 100 Grand a month. -
LloydTheBarber said on Jun 30, 2007....
Here's wondering if Don and Joyce Harvey would like to have a new friend named LloydTheBarber.....I live a middle class lifestyle(if that), and i am always happy to see people who live paycheck to paycheck break free of the "daily grind". One thing that i have always found interesting though...is that most people are usually happy for lottery winners(who win millions and millions of dollars), yet we tend to resent people who earn their millions in a more traditional way, like starting up a business and putting years and years worth of work into it....any theories?? -
Jadea said on Jun 30, 2007....
Well sadly LloydTheBarber I do not resent these people. I am happy for them too. These are the ones who actually have you believe that you can succeed in life with hard work. I think the ones who do resent them are the ones who want to just sit on their behind and get a stroke of luck come their way. -
ALIENated said on Jul 01, 2007....
How old are these people? Maybe Don would pay me to take good care of Joyce so he could, ah, indulge in other activities. Heck, maybe Joyce would pay me to take care of Joyce. ... OK, I would do it for drinks and a nice dinner.
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ALIENated said on Jul 01, 2007....
Oh yeah, I would take the pay out to make sure I did not lose it all at Casino Royal or Las Vegas. I have a relative whose husband won a prize that paid around $200,000 a year. Luckily he took the payout because it was usually all gone well before the end of the year. I have not heard how that worked out. Maybe as he got older he got wiser, or at least he had done all his wild spending, like buying people cars and that sort of thing. It would be quite a shock to be a young person,win the lottery, get the money for 20 years, and suddenly be without the yearly payments in your forties.
Comment on "Oklahoma couple wins $105.8M Powerball"
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