Lucky STIFF!!

[primestar31]

Ok, I swear this was a Farside cartoon from years ago, but now it's true!

Conn. man's last lotto ticket wins $10M for widow - Yahoo! News

 

[KE4EST]

Wow what thing to have happen.

 

[navychop]

Can't believe she's actually considering a 21 year payout over the lump sum, given her age.

 

[primestar31]

Can't believe she's actually considering a 21 year payout over the lump sum, given her age.

Well, where would she put a lump sum? Wallstreet would just outright steal it, and the bankers only insure $250K, so if she dumped it in a bank that failed, she'd lose it all. Don't forget, she's old enough that she can't GIFT it all to her children tax free, so the Gov/ment will get a HUGE chunk right off the top.

I heard a rumor, that if you take the payout over years annuity, then die before it ends, the payoffs STOP! They don't go to any heirs, they just keep it. Anybody know if that's true with all state lotteries, or just some of them, or?

 

[charper1]

note to self. do not buy into panic..

 

[primestar31]

note to self. do not buy into panic..

I think my questions are prudent, and don't show a "buy in" to a panic. Banks won't even say what they did with their TARP bailout money, they are so far refusing. They just vanished billions of dollars! So far Congress, isn't doing much to force them to accountability. It's just as likely more banks will fail. Same with Wall street people. Maybe they can afford to lose money, but the average person, such as this widow, doesn't have much chances even with a $6 million lump payout. They could pocket that without even blinking hard, and be smiling while they do it!