Cool. Does bendable actually buy lotto tickets?

Now that is what old school integrity is all about for us old farts! Bravo Zulu Mr Cook!

quote:

Originally posted by Orguss:
Great story. But...why quit your job immediately? Doesn't it take some time to get paid?

At that age if you can’t live off your savings for quite a while until the lottery check clears you have other problems.

I can't think of anyone I know whose problems would be fixed by a jackpot lotto payout. Sure, it would take care of immediate bills. But if you're past middle age and still barely making ends meet, that's usually caused by bad judgment, which will never improve with a sudden cash windfall.

^^^^^^^^
You been watching The Millionare? It was a TV series that ran from 1955 to 1960. A mysterious benefactor gives total strangers a check for a million bucks. Over the course of the show, his or her life goes to total shit because of the money. A great morality play!

You guys crack me up

I have , on a couple of occasions said that if I hit it big,

This forum will benefit , shortly there after.

(Hit it big = more than enough to live on ,very comfortably for the next 20 years )

Yes I spend $ on the lottery

This message has been edited. Last edited by: bendable,

Here's the down side to winning tonight's 97 million dollars,
As I see it anyway

I am old enough now that I
wouldn't begin to know who to start trusting with all that money.

After I gave away 59 million of it to friends , family, charitable foundations
municipalities , and
strangers, for seven years,

I'd sit around for the next nine years
wondering who was stealing how much ,from what account.

( Typical Gemini )

quote:

Originally posted by Orguss:
Great story. But...why quit your job immediately? Doesn't it take some time to get paid?

no possible way I could stay at work knowing I had won that much money, if you don't have a few months reserve at there ages something else is wrong.

Curious,

Illinois is offering a free power ball lottery ticket if you purchase three.

Is your state doing that also?

quote:

Originally posted by bendable:
Curious,

Illinois is offering a free power ball lottery ticket if you purchase three.

Is your state doing that also?

Did Illinois start actually paying winners now, or are they still just holding onto winnings?

If they're still not paying out, they ought to give 1000 free with every one bought.

quote:

Most people take the cash payout.

The reason for this is if you take the annuity the payout is (usually) over 20 years. If at any time you should die before the 20 years is up, that's it, the payouts end. Your heirs are screwed. That's what I've read anyway.

I don't know how it works if there are several names on the payout, but I would guess it would be reduced by the deceased's share, at a minimum.

Not exactly. You're confusing different types of annuities and how they work.

A "term certain" annuity, in this example 20 years, MUST pay for 20 years. If the original annuitant dies during the payout period, the full payments divert to the beneficiary(s) on the contract.

A "life annuity" does pay only on the life of the annuitant(s). If a Life Only contract, payments stop on death.

However, if it's a "life annuity with guaranteed period", and the annuitant dies during the guaranteed period, payments divert to the designated beneficiary (just for the remainder of the G.P., not for their life). If they die after that period, then all payments simply cease.

I am not sure what types of annuities are generally offered to lottery winners, but those are the basic types of commercial plans.

https://www.usamega.com/

click on your state to check annuities