Powerball jackpot goes to 8 meat plant workers Each will receive $15.5 million after taxes Wednesday, February 22, 2006; Posted: 12:40 p.m. EST (17:40 GMT) LINCOLN, Nebraska (AP) -- Eight workers at a Nebraska meat processing plant claimed the record $365 million Powerball jackpot Wednesday, each getting about $15.5 million after taxes. The seven men and one woman, introduced by Gov. Dave Heineman, all work at a ConAgra ham processing plant near the U Stop convenience store where they bought the winning ticket for Saturday's lottery. It was the biggest jackpot on record for any lottery in the United States. "I didn't know what to think," said Robert Stewart, 30, who said he was a maintenance supervisor before the win. "I still don't know what to think." The winning numbers were 15, 17, 43, 44 and 48, with a Powerball number of 29, according to the Multi-State Lottery Association of Des Moines, Iowa, which runs the game for the participating states. In addition to Stewart, the winners are: Quang Dao, 56; David Gehle, 53; Alain Maboussou, 26; Chasity Rutjens, 29; Michael Terpstra, 47; Dung Tran, 34; and Eric Zornes, 40. The previous U.S. lottery jackpot record was $363 million for the Big Game, the forerunner of Mega Millions. That was won by two ticketholders in Illinois and Michigan in 2000. Powerball's previous record jackpot, $340 million, was won by an Oregon family in October. Powerball is played in 28 states, the District of Columbia and the U.S. Virgin Islands. Copyright 2006 The Associated Press. All rights reserved.This material may not be published, broadcast, rewritten, or redistributed. --------------------------------------- Question: do you have to be a US citizen to claim a jackpot? just curious.
I don't think so. I mean you don't have to show any kind of identification to buy the ticket. And they don't provide any kind of written warning on the ticket itself. So, if they let you buy the ticket, then they should let you claim the jackpot as well (or else that's a lawsuit waiting to happen). These jackpots seem big.. but if you decide to take all the money at once, you only get half. And then taxes will split that into half again. So, in the end, it's still millions.. but it's really not THAT much.
so judging from the $15.5M number, the lump sum payment is basically 1/3 of the jackpot. man that's a big chunk of change to lose out on. of course, i wouldn't mind having the remainder.
It was about a guy who snuck into boys locker rooms to drink their urine. I can't believe i just wrote that and was not joking.
Two reasons why you should take the lump sum: 1) depreciation 2) Nobody can inherit your winnings It is a wonder how poor people win the jackpot and lose it all ... while people like donald trump go from billionaire to bankrupt to billionaire ... a couple times over? The taxes will still be the same, whether you do lump sum or split it up.
The amount you take now is basically the projected value of the worth of the total jackpot over 30 years. So from a pure financial standpoint, its the same. The Future Value of the full jackpot over 30 years vs. the present value now. So you don't actually lose anything. There are some theories that if you invest wisely, you are actually making money by taking the lump sum now...that over a 30 year period, the money now is worth much more than the total over 30 years. Also, taxes are historically very low right now...so it would be good to take the money now and pay the taxes now, rather than risk taxes rising over 30 years. Its only good to take the payout over time if the person is horrible with money and would blow it all at once....at least they will get a fresh check every year if they spend like that. The wise person would invest properly and hardly ever touch the principal amount.
b/c you're claiming the money immediately and probably don't have a will set up yet. at least that's my thinking.
If you're lucky enought to win, take the lump sum only if you're responsible and you won't be a dumbass and blow it all in the first couple of years...
