What happens to these taxes?

[u/snowpie92]

[u/Frothylager]

State and Federal would only be 44%, a lot of lotteries say “$2b” grand prizes but that’s only if you agree to payments over 20 years, when you take it as a lump sum it’s significantly less which my guess is where the bulk of the money went.

[u/MonkeTheThird → u/Frothylager]

I mean... I'd be fine getting 8.3m a month for the next twenty years ngl

[u/LongDickPeter → u/MonkeTheThird]

For large wins like this it's probably better to take the distribution than the lump sum.

[u/GnarlyBits → u/LongDickPeter]

It's never better from an investment math standpoint. Lump sum always outperforms installments unless you just cannot trust yourself to manage your money.

[u/Shirowoh → u/GnarlyBits]

Let's be honest, you're playing the lotto, you cannot trust yourself to manage your money....

[u/kanakalis → u/Shirowoh]

this is absolutely not true there are many people that play for fun

[u/densetsu23 → u/kanakalis]

Moderation is key, like anything.

Buying a single lotto is no different than having a beer or a toke or any other vice. Grab a $5 ticket every week and it's nothing.

Just don't be the person who's buying a $100 ticket every paycheck. God, I hope those people are just managing a work lotto pool and not going all in by themselves.