If I were Filthy Rich
By Embarrassed-Scale489+16 Would you be disappointed...?
The winner is getting 433 million out of the 1.28 billion advertised. Would you be disappointed if that was all you were getting from what was advertised because of taxes?
Recent responses
+43 @Daegog In the day that I would be sad about ONLY getting 433 million US dollars is the day that everyone in the world has been granted the right to slap me silly every time they see me. The person could still get the 1.28 billion if the took the annuity, of course they gonna tax that too.
+22 @zamboniman46 the 1.28B advertised is the annuity value. if you want that you get about 1.5% in year 1 ($19.2M in this case) and then a 5% increase (so $20.16M in year 2) every year for the next 29 years. the cash value (or lump sum), which is the present value of the $1.28B annuity, is also advertised and was $747.2M. the vast majority of people recommend taking the lump sum over the annuity as it isn't a great rate of return over 30 years and can be easily beaten in the market. the annuity value is exciting, but you've gotta look at the cash value and then take 37% off the top for federal taxes plus whatever your state rate is