$500,000,000

  • lhprop1
    Eagan
    Posts: 1899
    March 30, 2012 at 2:32 pm #1054223

    Quote:

    The first thing I am going to do is make James an offer he can’t refuse to let me become IDO staff as the Millionaire Field Reporter. I’ll be fishing every day with my solid gold cranks.

    Why stop with solid gold cranks? You could outfit yourself with solid gold sinkers and hooks, too.

    Lead core line? That’s the stuff that the lowly paupers who only have a couple million dollars use. Gold core line is the only thing Pug will use.

    The solid gold boat might ride a little low in the water, though.

    suzuki
    Woodbury, Mn
    Posts: 18605
    March 30, 2012 at 2:41 pm #1054231

    Gold core line. I like the sound of that!

    mplspug
    Palmetto, Florida
    Posts: 25026
    March 30, 2012 at 2:53 pm #1054235

    Quote:

    Why stop with solid gold cranks? You could outfit yourself with solid gold sinkers and hooks, too.

    Lead core line? That’s the stuff that the lowly paupers who only have a couple million dollars use. Gold core line is the only thing Pug will use.

    The solid gold boat might ride a little low in the water, though.


    I didn’t want to gloat.

    Happy Birthday

    lhprop1
    Eagan
    Posts: 1899
    March 30, 2012 at 3:06 pm #1054241

    Quote:

    I didn’t want to gloat.

    Happy Birthday

    A humble prince, indeed. The People’s Prince!

    Thanks

    out_fishing
    Moorhead, MN
    Posts: 1151
    March 30, 2012 at 3:34 pm #1054252

    Quote:

    The first thing I am going to do is make James an offer he can’t refuse to let me become IDO staff as the Millionaire Field Reporter. I’ll be fishing every day with my solid gold cranks.

    out_fishing
    Moorhead, MN
    Posts: 1151
    March 30, 2012 at 3:37 pm #1054253

    Its up to $640 million now! I suppose if I was ever to win anything this might as well be it!

    AllenW
    Mpls, MN
    Posts: 2895
    March 30, 2012 at 3:43 pm #1054257

    Quote:

    Its up to $640 million now! I suppose if I was ever to win anything this might as well be it!

    Just in case, what’s that after taxes for take home??

    Al

    kooty
    Keymaster
    1 hour 15 mins to the Pond
    Posts: 18101
    March 30, 2012 at 3:48 pm #1054261

    Quote:

    Quote:

    Its up to $640 million now! I suppose if I was ever to win anything this might as well be it!

    Just in case, what’s that after taxes for take home??

    Al

    $433,000,000.00 if you are a Mn resident.

    kooty
    Keymaster
    1 hour 15 mins to the Pond
    Posts: 18101
    March 30, 2012 at 3:49 pm #1054262

    Or just enough to retire on… 25% to Fed, 7.25% to Mn.

    mplspug
    Palmetto, Florida
    Posts: 25026
    March 30, 2012 at 4:09 pm #1054269

    Quote:

    Or just enough to retire on… 25% to Fed, 7.25% to Mn.


    IS there a a one time payout option over a yearly check or whatever it is? I just want to be prepared.

    And I submit that I am The People’s Polish Prince.

    kooty
    Keymaster
    1 hour 15 mins to the Pond
    Posts: 18101
    March 30, 2012 at 4:11 pm #1054270

    Yes, one time payout or about $24mill a year for 20 years. I’m greedy taking the one timer. Can you imagine the size of that money clip…

    jd318
    NE Nebraska
    Posts: 757
    March 30, 2012 at 4:18 pm #1054273

    Quote:

    Or just enough to retire on… 25% to Fed, 7.25% to Mn.

    Fed would be higher than that. Top rate is 35%, you’d be there. AMT could become an issue also.

    AllenW
    Mpls, MN
    Posts: 2895
    March 30, 2012 at 4:25 pm #1054278

    Quote:

    Quote:

    Or just enough to retire on… 25% to Fed, 7.25% to Mn.

    Fed would be higher than that. Top rate is 35%, you’d be there. AMT could become an issue also.

    Ok, just wondering if I’d have enough after taxes…
    At 64 I’d have to take the one time payment plan, besides I’m sure if age didn’t kill me before I collected all 20 years of money, something else would.

    Al…in fact pretty sure of it…

    mplspug
    Palmetto, Florida
    Posts: 25026
    March 30, 2012 at 4:31 pm #1054279

    I am just posting this link to show you guys how much I will be getting and paying.

    Taxes and Payouts

    These are figures after state and local taxes
    Your net payout: $313,005,000
    or
    After 26 payments: $433,600,024

    $120M is a lot of money to leave on the table, however at my age, I’ll take the 1 time payment. Taking an annuity is risky because you do not know the taxable rate for future payments. Plus, it would not be that hard to make up the difference in well under 20 years.

    So where does the $120M go if you take the one time payment? Back into the pool?

    kooty
    Keymaster
    1 hour 15 mins to the Pond
    Posts: 18101
    March 30, 2012 at 4:34 pm #1054281

    Apparently the folks at KARE11 this AM didn’t use the proper formula. I was basing my numbers off their formulas. The fact is, take half of it. I’d still be tickled, pickled and dead long before I could spend it.

    crossin_eyes
    Lakeville, MN
    Posts: 1379
    March 30, 2012 at 5:10 pm #1054288

    In my wildest dreams I couldn’t imagine the size of the winning beer party at the Kooty ranch! But I would certainly be in attendence!!

    mplspug
    Palmetto, Florida
    Posts: 25026
    March 30, 2012 at 5:13 pm #1054289

    Quote:

    Apparently the folks at KARE11 this AM didn’t use the proper formula. I was basing my numbers off their formulas. The fact is, take half of it. I’d still be tickled, pickled and dead long before I could spend it.


    My intention wasn’t to correct you. I didn’t know how you were coming up with your numbers and if they were pre/post tax. So I did a quick search.

    I could do a lot of damage with just $1M. Heck $500K.

    kooty
    Keymaster
    1 hour 15 mins to the Pond
    Posts: 18101
    March 30, 2012 at 5:37 pm #1022080

    I’d even buy some of that weird beer you drink for my party Pug.

    Hug a wolf!

    cougareye
    Hudson, WI
    Posts: 4145
    March 30, 2012 at 5:59 pm #1054301

    Give a man a fish, he eats for a day.
    Teach a man how to fish and he’ll eat for a lifetime.
    Give a man $540,000,000 and your still out there catching your dinner??

    I’d leave that to my three blonde girlfriends, all clad in gold bikinis!! While I drive the boat!!

    ET

    Calvin Svihel
    Moderator
    Northwest Metro, MN
    Posts: 3862
    March 30, 2012 at 5:59 pm #1054302

    Quote:

    In my wildest dreams I couldn’t imagine the size of the winning beer party at the Kooty ranch! But I would certainly be in attendence!!

    I don’t think the party has ever stopped at Kooty’s house. If he had an extra 200+ million in his pocket, I think nothing would change in terms of alcohol consumption..

    Brian Hoffies
    Land of 10,000 taxes, potholes & the politically correct.
    Posts: 6843
    March 30, 2012 at 8:43 pm #1054343

    Seeing how I am so anti pro basketball. My elaborate thing would be to buy Pug a “complete section” of Wolves season tickets! I would be soooooo happy to put the “curse of the Pug” on the Woofies.

    That said, I’m not holding my breath on winning.

    mplspug
    Palmetto, Florida
    Posts: 25026
    March 30, 2012 at 9:58 pm #1054364

    Saweeet, I could probably get $100 selling them.

    Chris
    Rochester, MN
    Posts: 1396
    March 30, 2012 at 11:53 pm #1054385

    Quote:

    Officials estimated ticket-buyers will have spent more than $1.46 billion on the jackpot by the time Friday night’s numbers are drawn.

    dave-barber
    St Francis, MN
    Posts: 2100
    March 31, 2012 at 12:53 am #1054400

    I read this thread earlier today… and I apologize… I had to go out of my way to disappoint you. Got my tickets and I am the winner.

    On a side note… with the odds being 1 in 175 mil… couldn’t some mega-millionaire by one of every combination and ensure having a wining ticket? Considering even taking the payout… they likely double their investment? Hmm…

    kooty
    Keymaster
    1 hour 15 mins to the Pond
    Posts: 18101
    March 31, 2012 at 12:54 am #1054401

    20 minutes til I’m to stuck up to talk to you guys….

    mplspug
    Palmetto, Florida
    Posts: 25026
    March 31, 2012 at 1:27 am #1054410

    Anyone know the process of turning in the winning ticket? Do I mail it?

    kooty
    Keymaster
    1 hour 15 mins to the Pond
    Posts: 18101
    March 31, 2012 at 1:46 am #1054416

    I’ll take care of it for you buddy….

    jd318
    NE Nebraska
    Posts: 757
    March 31, 2012 at 1:58 am #1054419

    Quote:

    I read this thread earlier today… and I apologize… I had to go out of my way to disappoint you. Got my tickets and I am the winner.

    On a side note… with the odds being 1 in 175 mil… couldn’t some mega-millionaire by one of every combination and ensure having a wining ticket? Considering even taking the payout… they likely double their investment? Hmm…

    They could…but considering there is only 3 (or 4) days between drawings and you can’t buy a ticket between 3:00-5:00 AM, you would have to buy over 700 tickets per second (roughly 550 per second for the Tuesday drawing) to get all of the combinations. Might be pretty tough to do.

    out_fishing
    Moorhead, MN
    Posts: 1151
    March 31, 2012 at 2:02 am #1054421

    B.S looks like I will be working Monday.

    out_fishing
    Moorhead, MN
    Posts: 1151
    March 31, 2012 at 2:05 am #1054422

    Also with the number of tickets sold there will more than likely several winners.

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