🔴 Lottery Alert – $1.5864 Billion Powerball on January 13, 2016, the 19th Rollover for the Largest Lottery Jackpot in World History. Saturday the PowerBall Jackpot rose to $949.8 Million with No Jackpot Winner. All your wildest dreams could have come true if you had the winning numbers in this Huge Powerball lottery. BUT, there was No JACKPOT Winner. Recall, Powerball starts with a $40 Million Jackpot. There were 3 Powerball Jackpot winner on Wednesday January 13th drawing.
🔴 $273,869,273 in Payouts for Powerball Winning Tickets, Surprised?. There was 3 Powerball Jackpot Winner. And, there were actually 26,110,646 Winners other than the Jackpot prize, that won on average $10.49 per ticket. Powerball will be paying out a combined total of $273,869,273 for these Lottery winners. This is not a typo, literally over $273 Million is being paid out to individuals that present their Lottery tickets to retail locations for winning Tickets under $600. The many Tickets winners of $1,000,000 and $2,000,000 need to appear at Lottery regional offices to verify their identification with a Photo ID and provide their Tax ID Number, as Uncle Sam the Lottery must withhold 25% towards their 2016 Federal Tax filings.
🔴 3 Lucky Winners split the Powerball Jackpot, as Powerball was on its 19th rollover. The lottery increased the estimated Jackpot from $949.8 Million to $1.586 Billion for its 19th rollover. Many Hundred Million Lotto tickets are being sold at an amazing pace of 580,000 ticket sales per Minute. With luck, lots of Good Luck, the Jackpot Winning Odds is 292 million to 1, THREE Winners have the lucky chance of finding out, what being “Truly Wealthy” is, splitting $594,196,560 which equals $198,065,560 for Each.
🔴 Powerball Jackpot Quick Formula for Lump Sum After-Tax Payment Formula: Powerball Lottery officials claim, based on current interest rates, the (pre-Tax) Single-Pay lump sum payment for the Powerball Jackpot is 62% of the Jackpot. To account for Uncle Sam, the IRS maximum Federal Income Tax rate is 39.6% which means that you retain 60.40% of your Jackpot income. Therefore for a lump sum single payment equals (Jackpot)x(60.40%)x(62%) Less any State Income Taxes (No State income taxes for residents of Florida, Texas, Tennessee)
Powerball Lump Sum Cashier’s Check = (Powerball Jackpot)x(37.45%)
🔴 Lottery Officials say there was no Jackpot Winner Saturday night, the drawing held at 10:59pm, January 9th. The Powerball Jackpot has another Rollover, it’s 19th rollover, to a historic World-Wide Jackpot of $1.586 Billion for Wednesday’s drawing, January 13th. Lump Sum single payment of the Jackpot equates to about 62% of the Jackpot or $983.5 Million Lump Sum Cash Value, which equates to $594,075,000 Net after Uncle Sam takes a Federal Income Tax bite of 39.6%.
🔴 $594,075,000 in After-Tax CASH Value. Think about it, OK go crazy and spend $94 million on a new House, a Boat, a Vacation Home, a dozen fast Family Cash Gifts, a few Impulsive Gifts to Friends, plus a few local Charitable Contributions… After those preliminary expenditures, how many folks on the planet actually have $500 Million in after-tax CASH in the Bank, or Banks. At only a 1.0% interest rate, $500,000,000 on deposit would yield $416,600 per Month or $5,000,000 per Year in interest income. Whew…
🔴 Institutional grade AAA investments, that you could purchase, Yielding at a conservatively 2.5% interest rate, yielding roughly $1,041,000 per MONTH in investment income, or $12,500,000 per Year. Year-over-Year, and you have not spent any of your $500 Million.
🔴 Establish Multiple Annuities for close Family Members. In order to protect close family members that you want to gift funds, set up Annuities for each, so that they receive $75,000/month for the next 282 months. It will require you to deposit $20,000,000 assuming the Insurance Company prices the annuity at 4.00%. If you have 10 such family members this will consume $200 million of your Jackpot + $80 million Federal Gift Tax. Note, you will have to pay a Federal Gift Tax for these annuities which is currently 39.6% for amounts over the $10.68 Million lifetime gift exemption.
🔴 Create 2 separate Annuities for You and your Significant Other, in the amount of $50 million each, no gift tax for each of you, if you claim the Jackpot as a Married couple. This gives each of you “safe funds” that cannot be easily attacked by anyone. Each $50M Annuity giving each of you income in the amount of $187,500/Month “no matter what” for 23 years. It’s hard to imagine how one could spend $187,000/month; therefore other savings accounts should be created for the unspent annuity payments. Why 2 annuities? One for you and one for your significant other… Today, he and she are significant others to each other. However, after the Jackpot, lots of Money can change relationships, where you may separate. Annuities are safer to Legal Attack, in the event of a “spousal war.” With this accomplished, you would have committed $380 Million towards Twelve 282-Month Annuities including gift taxes, such that $139 Million will remain in the Jackpot pool for other uses, New Homes for you and your children, a Vacation Hideaway, Travel, Charitable Contributions, Small Gifts to friends, and for Safety buy and Vault a Gold Coin investment.
🔴 GOLD Maple Leaf Coins. For the ultimate in financial security, buy $50 million worth of GOLD bullion Coins, for example Canadian Maple Leaf coins. These coins are 24 karat pure 0.9999 fine Gold. These coins have little “collector” value other than related to the current value of the Gold metal. Currently Gold “Maple Leafs” are running at $1150 for each 1.00oz Coin, where spot bullion gold is current published at $1100/oz. The minting-premium for the 24k Gold Coin is about 4% to 5%.
🔴 24k Gold Coins are Safe and are Easy to Buy & Sell. You have a lot less risk of getting ripped off buying Gold Bullion Coins as compare to potential fraudulent Gold-Bar sales, usually dealing with purity. Other collectible Gold coins like 100 year old US Gold Eagle coins which are not pure 24k Gold, and are valued by two criteria: (A) for their rarity, the collector’s value for 100 year old coins, and (B) the current value of the Gold metal contained in the coins. Accordingly, it is difficult for YOU to know if you are over-paying for “collectible” rare gold coins. With Gold “bullion” Canadian Maple Leaf Coins, assuming you buy from a reputable dealer, Coins are very easy to buy, by comparing the Gold Coin value with current spot-Gold prices. Your 1oz Maple Leaf Gold Coin cost should be about 4% to 5% higher than the daily published market price of ONE Troy-Ounce of spot-gold.
🔴 $50 million of Gold Maple Leaf Coins equates to 43,478 Coins, which is 2,717 pounds of 24k Gold Coins (or 136 canvas bags, for 20 pound canvas sacs). Place them in several Bank Vaults, make a list, carefully label the vault-keys and Vault addresses. Many wealthy folks keep a portion of their Gold Coins out of Country (Switzerland for example), or several safe Counties, for smart Geo-Political safety. Seek professional advice from your Financial Planner before buying this sizable lot of 24k Gold Bullion Coins.
🔴 $89 Million Remaining your Jackpot pool, after this GOLD Coin purchase and the purchase of the 12 Annuities mentioned above, you should have $89 Million remains unallocated from your Jackpot pool.
🔴 As a Retired Commercial Banker, I reached out to one of my investment banking friends. He mentioned this notion: “… Invest in some Rare Art and Quality Diamonds & Rubies.” My initial thoughts, buy Art to have and enjoy in your home and office, not necessarily as an “Investment.” One of the problem with Fine Art is determining its Fair Value… can you trust the appraisals as these values are very subjective? Get 3 appraisals, and you’ll receive 3 different valuations. If the appraisals differ by more than 15%, then what? Apply the WIDD principle, “when in doubt, don’t.”
🔴 Diamonds may have microscopic imperfections such as cloudiness, spots, and other inclusions, another factor is improper Faceting, the Cut, and of course the Clarity, Coloration and Carat Weight. The globally accepted standard for describing diamonds is: The 4Cs of Diamond Quality: Color, Clarity, Cut, and Carat Weight. This is the universal method for assessing the quality of Diamonds, anywhere in the world.
🔴 Flawless, properly Cut Diamonds that are Brilliant White, with larger Carat weight have the greatest value; however, valuation and authenticity requires professional Jewelers to examine each stone. There is a high risk of over paying for diamonds, unless you really know what you are doing; best to hire trusted professional Jewlers to make these assessments.
🔴 Gold Bullion Maple Leaf Coins are exotic enough for a Newly Rich Lottery Winner, IMHO. Know this, 7 of 10 Lottery winners, make poor choices, terrible “investments” and ultimately loose their Lottery Pool, and are financially worse than before winning the Lottery, according to a recent study by three Universities, tracking 35,000 Florida Lottery winners over a 9 year period.
🔴 Powerball’s main website link: http://ift.tt/U80NKG.
🔴 To watch the Powerball Drawing each Wednesday and Saturday evening at 10:59pm eastern, this is Powerball’s Video Link: http://youtu.be/0WLEzv2UyvU
🔴 Jackpot Winners that desire the Lump Sum Payout, must clim the Jackpot within 60 days of the Drawing Day, to obtain a Lump Sum. Otherwise for those that desire the 29 year Payout Plan, you have up to 180 days to claim your Jackpot which will pay installments over 29 years, $53.3 Million on day one, and $53.3 Million per year for 29 years. On day 181 the Powerball Jackpot Ticket and all other Powerball winning Tickets expire, where all winning Tickets are worthless souvenirs.
🔴 Powerball is an American Lottery game offered by 44 States, and the District of Columbia, Puerto Rico and the U.S. Virgin Islands. Powerball is coordinated by the Multi-State Lottery Association (MUSL), a nonprofit organization formed by an agreement with participating US State Lotteries. Powerball’s minimum advertised jackpot is $40 million (an annuity); Powerball’s annuity is paid in 30 graduated installments; winners may choose Lump Sum cash instead.
🔴 Powerball Drawings are held Wednesday and Saturday evenings at 10:59 p.m. Eastern Time. The game picks Five (white balls) numbered from 1 to 69 + 1 (Red Powerball) numbered from 1 to 26, the matrix from which winning numbers are chosen. Each play costs $2, or $3 with the Power Play option. (Originally, Powerball plays cost $1; when PowerPlay began, such games were $2.) The official cutoff for All ticket sales is 10pm Eastern; some Lotteries discontinue sales at an earlier time. The drawings are held at the Florida Lottery’s studio in Tallahassee.
🔴 Seven Steps to Officially Claim your Jackpot and Maintain your Sanity. Hope you need and head this advice. Good Luck.
🔴 1. Sign the Lottery Ticket and put it in a secure place. The first thing a player will need to do is to complete and sign the back of the winning ticket, as this establishes ownership and the ticket, and must be signed to claim the Jack pot. Keep the ticket in a secure place until you intend to travel to Tallahassee, Florida to Officially Claim the Jackpot.
🔴 2. Don’t accept the prize money immediately, however, do so within 60 days if you desire the Lump Sum Payment. Otherwise you have 180 days to claim the Jackpot with 30 payments over 29 years. Taking some time will give time to make some very important decisions, like what you want to do with the money, gifts to family, charities, and how they think it will change your life.
🔴 3. Hire a team of professionals to manage your money. The good news is you’ll have plenty of cash to hire a few Trust, Estate, Tax and Financial experts to manage everything from your finances and legal issues to personal relationships. Engage a Financial Planner and make financial decision with that person’s guidance. The Financial Planner may be used as a buffer with all those who ask you for favors and money. The Financial Planner will help to insulate you from all the calls you’ll receive, and to protect your relationships.
🔴 4. Stay Quiet and leave town for a few weeks. One wouldn’t blame you for wanting to shout from the rooftops that you’re a multi-millionaire, but it’s best to remain Quiet. Other than a spouse, don’t tell anyone about your good fortune until after you’ve created a solid plan with your core of Financial Professionals. Well-meaning friends and family will likely not offer you the best financial advice for the totality of your good fortune. Disappearing for a few weeks, means you will not have strangers and family members hounding you for money. This time away will give you a chance to settle yourself. When folks receive a huge windfall, it could take up to a year to fully adjust to this new lifestyle.
🔴 5. Don’t hand out cash to family and friends until you have formulated an overall Plan. Having a lot of money means you can help a lot of people, but that doesn’t mean you can help everyone, nor should you. Don’t feel obligated to bail out, reward, loan or give out lumps sums of cash to friends and family members. It may seem like harsh advice, but this is one of the fastest ways to lose your money. Talk with your financial advisers about strategies and vehicles, such as trusts, that can allow you to help others and also preserve your wealth and your gifts. Additionally, cash and other gifts may have significant tax consequences, particularly with huge Jackpots.
🔴 6. Don’t forget about Federal & State Income Taxes. Even though the jackpot is $1.3 Billion, that doesn’t mean you’ll walk away with that amount. The lump sum amount equates to $806 Million, subject to 39.6% Tax bite from the IRS. At a minimum 25% in taxes will be withheld immediately. And it doesn’t end there. It sounds boring, but planning for taxes is extremely important as these numbers are huge. The inclination is to not plan for taxes and not anticipate them. If you have investment income you’ll have to pay taxes each year. If you walk away with $519 million after TAX, some of this Cash should be going into a variety of investment account that will earn money, and those earnings are taxable.
🔴 7. Set a budget. How could you blow through $519 Million, Right? Wrong. Even with a huge sum of money, you still have to set a budget. Realize it’s not a bottomless pit of money. Don’t spend wildly in the belief that it’ll last forever. A financial adviser can advise you as to how much income you can receive monthly from your winnings, you need to live on that amount or less. Set a budget, but also allow yourself those dream purchases with a balance.
🔴 Powerball on October 4, 2015 format change by Increasing White Ball count to 69 Balls, and Decreasing the Red Ball count to 26 Balls. This changed the Jackpot Winning Odds to exactly 1:292,201,338.
🔴 Powerball Double-Matrix format change: The White-ball pool increased from 59 to 69 balls, while the Red-ball pool decreased from 35 to 26 balls. The Double-Matrix (White Balls + Red Balls, are drawn in separate ball-machines) was designed to create a greater number of overall Powerball winners (with odds of 1:24). However, the format change caused Larger Jackpots, because of the likelihood of more Jackpot Rollovers (Powerball JACKPOT odds are now 1:292,201,338), thereby increasing Jackpot Values. The 4+1 prize is now $50,000; the 10x PowerPlay is available in drawings with a jackpot of under $150 million. For the three months period since the recent October, 2015 Powerball format change, this new format produced 19 Rollovers, with a current $1.4 billion Jackpot (as of Noon Monday, 1/11), an amount that doubles the previous Powerball record. By Wednesday’s Drawing the Estimated Powerball Jackpot could jump to $1.75 Billion.
Lottery Claim Form Link:
http://ift.tt/1l9KIam
🔴 For the rest of us, we can take solace in knowing that you can’t “buy” happiness, let alone permanent wealth, as “happiness” does not always flow from jackpots. However, if you are going to be “unhappy” it’s better to be unhappy and wealthy. As crazy as it may seem, many lottery winners often don’t lead great lives after striking it rich. Quite a few lottery winners spend all their winnings and more, then ultimately filing for bankruptcy.
🔴 University of Kentucky, University of Pittsburgh and Vanderbilt University researchers examined Lottery Winners in 2011 to determine whether Winning a Lottery Jackpot would lead to permanent financial improvement. They focused on bankruptcy filings as a relevant measure of financial success (or failure).
🔴 Researchers examined 35,000 winners of the Florida Lottery, over a 9 Year Period to gather significant volumes of data, to draw meaningful conclusions. The results were surprising. Relatively large winners, who received between $50,000 and $150,000, were just as likely to file for bankruptcy after several years than small winners of $1,000 or so. Plenty of winners, in other words, spent all that they won. But the study does suggest that many people squander whatever sudden wealth comes their way.
🔴 About 7 in 10 people who receive sudden Jackpot “wealth” are likely to deplete most of it within several years, according to a study by the National Endowment for Financial Education. The researchers also determined that for multi-million dollar Jackpot Winners, there were fewer financial failures than for more modest Jackpots.
🔴 Let’s be Happy, and assume that YOU will be very careful with your winnings by hiring a competent Financial Advisor or two, and a smart Tax Specialist. The Key is to engage financial professionals to help you protect your Jackpot, make good investments, and guide you in properly “Spending,” “Investing” and “Giving” a portion of your winnings to your Family and a few Charities.
🔴 $900 Million Power Ball Jackpot Winnings. Let’s assume that you are the soles winner of the $900 Million Jackpot. Lottery officials estimate that the Lump Payment of this jackpot will provide to you a $558 Million Check, or $30 Million payments over 30 years. $30 Million on Day 1, followed by 29 annual payments of $30 Million each. However, lets assume you elect the Lump Sum payment of $558 Million. The next step is the IRS.
🔴 Current rules are the IRS will take a 25% cut or $140 Million for your income tax on the Jackpot, Rendering you a Net Lump Sum of $418 Million. Unless you have significant existing tax shelters, or make significant Charitable contributions in 2016, your Jackpot Federal Tax will likely be 39.6% or $221 Million, this is $81 Million more than the $140 Million if Federal Taxes deducted in Day-1. These factors are why you really need to engage an excellent Tax Attorney, plus one or more Financial Consultants to assist you in making safe investments and to protect your winning Jackpot.
🔴 $337 Million will be your Net CASH Day 1, after Federal Taxes are assessed on the $558 Million Jackpot, which is $221 Million (the current maximum tax bracket of 39.6%), yielding a Net of $337 Million Net CASH, not accounting for any State Taxes. Florida does not have State income taxes. If your permanent residence is in NY, NJ or other states that have State Income taxes, your $337 Million may be further reduced by some 8%, 10% or whatever your State of permanent residency requires.
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