Another insane win!! $ 1B mega million jackpot - page 2.

dunfida

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Quote from: michellee on April 10, 2021, 02:02:02 AM

Quote from: bhadz on April 09, 2021, 10:03:19 PM

Quote from: Sithara007 on April 09, 2021, 12:45:16 AM

One of the biggest mistakes that a lot of lottery winners make is that they end up spending most of that amount on expensive real estate. But due to their inexperience, they fail to notice the annual charges that needs to be paid. The property tax can amount to 2% to 3% of the total value of the property, and on top of that maintaining such luxury properties in a good condition require a lot of funds. In 10-15 years, the property can cost as much in annual charges as its original purchasing price.

Those expensive real estate can still be said as an asset which for me is a good thing that a winnee has spent on their money. That is considered as an asset if they will use that expensive real estate for rental and its value will appreciate overtime.
It is better if they spend it on that thing rather than things that will depreciate even if they are not financially good in deciding what to buy and what to keep.

But that is not worth just buy expensive real estate because I am sure we can search for a low price real estate. Maybe after we can have one or two real estates, we can rent it to make more money. Hitting a jackpot needs us to manage the money because if we can not do that, it will not takes too long to see the money will be gone. We can not have much money again if we lose it, and I do not think that we can hit the other jackpot again in the future. If that person knows about crypto, maybe it will better to invest his win money in crypto so he can make another return in the future.

These life changing opportunities shouldnt really be wasted because once you do lost and spend of those winnings then you would surely comeback on where you had started.
Be wise and be sensible with those cash that you do have, if you dont like to end up on being poor again then better to make use of those funds wise and be diversified
into various investment and later on you do buy on the things you do like in life when you do see you are sustainably able to make profits on leverage businesses
which an ideal target for someone to achieve on.

michellee

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Quote from: bhadz on April 09, 2021, 10:03:19 PM

Quote from: Sithara007 on April 09, 2021, 12:45:16 AM

One of the biggest mistakes that a lot of lottery winners make is that they end up spending most of that amount on expensive real estate. But due to their inexperience, they fail to notice the annual charges that needs to be paid. The property tax can amount to 2% to 3% of the total value of the property, and on top of that maintaining such luxury properties in a good condition require a lot of funds. In 10-15 years, the property can cost as much in annual charges as its original purchasing price.

Those expensive real estate can still be said as an asset which for me is a good thing that a winnee has spent on their money. That is considered as an asset if they will use that expensive real estate for rental and its value will appreciate overtime.
It is better if they spend it on that thing rather than things that will depreciate even if they are not financially good in deciding what to buy and what to keep.

But that is not worth just buy expensive real estate because I am sure we can search for a low price real estate. Maybe after we can have one or two real estates, we can rent it to make more money. Hitting a jackpot needs us to manage the money because if we can not do that, it will not takes too long to see the money will be gone. We can not have much money again if we lose it, and I do not think that we can hit the other jackpot again in the future. If that person knows about crypto, maybe it will better to invest his win money in crypto so he can make another return in the future.

Sithara007

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Quote from: bhadz on April 09, 2021, 10:03:19 PM

Quote from: Sithara007 on April 09, 2021, 12:45:16 AM

One of the biggest mistakes that a lot of lottery winners make is that they end up spending most of that amount on expensive real estate. But due to their inexperience, they fail to notice the annual charges that needs to be paid. The property tax can amount to 2% to 3% of the total value of the property, and on top of that maintaining such luxury properties in a good condition require a lot of funds. In 10-15 years, the property can cost as much in annual charges as its original purchasing price.

Those expensive real estate can still be said as an asset which for me is a good thing that a winnee has spent on their money. That is considered as an asset if they will use that expensive real estate for rental and its value will appreciate overtime.
It is better if they spend it on that thing rather than things that will depreciate even if they are not financially good in deciding what to buy and what to keep.

I don't have anything against luxury real estate. The only thing that I was pointing out is that the lottery winners should plan carefully when they purchase these assets. When they buy these assets, they should make sure that the pricing is optimal. Luxury real estate is almost always overpriced and you need to wait patiently for many months if you want to purchase them at fair valuation. And in case the annual maintenance is an issue, then the owner will be forced to sell his asset. And if he wants to sell it quickly, then he may need to reduce the price by 30% or 40% (i.e if he is not ready to wait for 1-2 years). So these things should be kept in mind.

bhadz

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Quote from: Sithara007 on April 09, 2021, 12:45:16 AM

One of the biggest mistakes that a lot of lottery winners make is that they end up spending most of that amount on expensive real estate. But due to their inexperience, they fail to notice the annual charges that needs to be paid. The property tax can amount to 2% to 3% of the total value of the property, and on top of that maintaining such luxury properties in a good condition require a lot of funds. In 10-15 years, the property can cost as much in annual charges as its original purchasing price.

Those expensive real estate can still be said as an asset which for me is a good thing that a winnee has spent on their money. That is considered as an asset if they will use that expensive real estate for rental and its value will appreciate overtime.
It is better if they spend it on that thing rather than things that will depreciate even if they are not financially good in deciding what to buy and what to keep.

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Quote from: Sithara007 on April 09, 2021, 12:45:16 AM

Quote from: South Park on April 04, 2021, 07:24:15 PM

...

One of the biggest mistakes that a lot of lottery winners make is that they end up spending most of that amount on expensive real estate. But due to their inexperience, they fail to notice the annual charges that needs to be paid. The property tax can amount to 2% to 3% of the total value of the property, and on top of that maintaining such luxury properties in a good condition require a lot of funds. In 10-15 years, the property can cost as much in annual charges as its original purchasing price.

in my city, the property tax is around 0.1% - 1% / year of the value of the building depending on the type of building...
but you are right, if a person who wins the jackpot immediately buys an item that requires you to pay taxes on it then that is a mistake. it would be wise to buy the money an investment asset so that you can get income from it.

Sithara007

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Quote from: South Park on April 04, 2021, 07:24:15 PM

What happens is that they go from having a low amount of wealth to have a lot of wealth and it may give them the impression that the money that they have is unlimited but that is simply not the case, it doesn't matter how much money you have there is always enough stuff around the world which you can buy and ruing your life in the process if you're not careful, just as an example let's see the real estate market, there are houses that are very cheap but there are mansions that are incredibly expensive so the real estate market accommodates most people despite the wealth they may have.

One of the biggest mistakes that a lot of lottery winners make is that they end up spending most of that amount on expensive real estate. But due to their inexperience, they fail to notice the annual charges that needs to be paid. The property tax can amount to 2% to 3% of the total value of the property, and on top of that maintaining such luxury properties in a good condition require a lot of funds. In 10-15 years, the property can cost as much in annual charges as its original purchasing price.

South Park

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Quote from: Mahanton on March 31, 2021, 03:26:45 PM

Quote from: South Park on March 31, 2021, 03:13:59 PM

Quote from: BuNga_cute on March 26, 2021, 07:08:13 PM

I have read many stories about someone who has won a large number of lotteries, this victory depends on our luck. Because everyone has
different luck, but what's interesting about this lottery can provide an opportunity for people to become rich instantly. Which turned out
to have a frightening negative effect, most lottery winners will have a hard time managing the money they get. Since they are usually not used
to having large amounts of money, most lottery winners will spend the money they earn on something that is extravagant and unnecessary.
There are stories of lottery winners just a few months back from being poor, this is indeed a problem for people who win lotteries in large numbers.
I suggest for lottery winners to hire professional financial advisors, so that the money they earn can be managed properly.

That is the usual problem those people face when they win the lottery, it is obvious that every single person will love to have millions and millions of dollars come to them without doing anything which is why the lottery so popular, however most of the people that win the lottery face bad consequences because they do not know what it takes to earn that kind of money and they begin to spend it in all kind of things that they do not really need and ruing their lives in just a few years.

Not all but most of them do really end up that way because of unwise spending of people on their winnings.They do spend out just like theres no tomorrow.
They arent thinking on diversifying those funds for them not to go bankrupt or lost it all in a short span of time.Well, it isnt bad to buy on what you want
but when the time comes where its unwise on spending into something which isnt important then thats really a wrong move to take.
Hitting lottery is a one time life changing situation thats why its better not to waste it up if we dont like to go back into our normal lives.

What happens is that they go from having a low amount of wealth to have a lot of wealth and it may give them the impression that the money that they have is unlimited but that is simply not the case, it doesn't matter how much money you have there is always enough stuff around the world which you can buy and ruing your life in the process if you're not careful, just as an example let's see the real estate market, there are houses that are very cheap but there are mansions that are incredibly expensive so the real estate market accommodates most people despite the wealth they may have.

Mahanton

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Quote from: South Park on March 31, 2021, 03:13:59 PM

Quote from: BuNga_cute on March 26, 2021, 07:08:13 PM

I have read many stories about someone who has won a large number of lotteries, this victory depends on our luck. Because everyone has
different luck, but what's interesting about this lottery can provide an opportunity for people to become rich instantly. Which turned out
to have a frightening negative effect, most lottery winners will have a hard time managing the money they get. Since they are usually not used
to having large amounts of money, most lottery winners will spend the money they earn on something that is extravagant and unnecessary.
There are stories of lottery winners just a few months back from being poor, this is indeed a problem for people who win lotteries in large numbers.
I suggest for lottery winners to hire professional financial advisors, so that the money they earn can be managed properly.

That is the usual problem those people face when they win the lottery, it is obvious that every single person will love to have millions and millions of dollars come to them without doing anything which is why the lottery so popular, however most of the people that win the lottery face bad consequences because they do not know what it takes to earn that kind of money and they begin to spend it in all kind of things that they do not really need and ruing their lives in just a few years.

Not all but most of them do really end up that way because of unwise spending of people on their winnings.They do spend out just like theres no tomorrow.
They arent thinking on diversifying those funds for them not to go bankrupt or lost it all in a short span of time.Well, it isnt bad to buy on what you want
but when the time comes where its unwise on spending into something which isnt important then thats really a wrong move to take.
Hitting lottery is a one time life changing situation thats why its better not to waste it up if we dont like to go back into our normal lives.

South Park

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I am terrible at Fantasy Football!!!

Quote from: BuNga_cute on March 26, 2021, 07:08:13 PM

I have read many stories about someone who has won a large number of lotteries, this victory depends on our luck. Because everyone has
different luck, but what's interesting about this lottery can provide an opportunity for people to become rich instantly. Which turned out
to have a frightening negative effect, most lottery winners will have a hard time managing the money they get. Since they are usually not used
to having large amounts of money, most lottery winners will spend the money they earn on something that is extravagant and unnecessary.
There are stories of lottery winners just a few months back from being poor, this is indeed a problem for people who win lotteries in large numbers.
I suggest for lottery winners to hire professional financial advisors, so that the money they earn can be managed properly.

That is the usual problem those people face when they win the lottery, it is obvious that every single person will love to have millions and millions of dollars come to them without doing anything which is why the lottery so popular, however most of the people that win the lottery face bad consequences because they do not know what it takes to earn that kind of money and they begin to spend it in all kind of things that they do not really need and ruing their lives in just a few years.

iTradeChips

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Quote from: tabas on March 26, 2021, 06:39:29 PM

Quote from: Sithara007 on March 25, 2021, 11:43:17 PM

Quote from: tabas on March 25, 2021, 05:24:36 PM

That depends on the declaration of the casino if the tax is already included or not. But if the casino says that's tax free then jackpots like this are truly a wealth that you can enjoy forever.
That's what mostly cuts the fun when hear someone says about tax.

It is a little bit complex for foreign gamblers. The casino may say that the winnings are tax free, but the gamblers may be from other countries and in such countries this income may be taxable. Or worse still, gambling may be illegal in these countries and therefore in the tax return the amount needs to be reclassified as a gift or business income. The better option would be to convert it to Bitcoin and anonymously transfer it back to the home country of the gambler.

Yes, that's a pain if they're going to fly it to their main land. They really have to include the declare their money and where it came from. And it's hassle if the country has huge taxation for money that came from gambling.
And it's a big problem if the country declared it illegal pertains to gambling, that's a huge thing to be concerned but there's a way these days through converting to bitcoin.

That is a smart move for the winner to convert his winnings to Bitcoin, so that he could be able to go to places and all he needs to have is a laptop with the wallet and the Bitcoin. He can even wait for Bitcoin to get much higher and thus he will be able to double or triple his earnings. As far as I am concerned, I am already happy if I won a million or two, since I only have simple wants like a small house and a small business. All I want is self sustainability.

BuNga_cute

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I have read many stories about someone who has won a large number of lotteries, this victory depends on our luck. Because everyone has
different luck, but what's interesting about this lottery can provide an opportunity for people to become rich instantly. Which turned out
to have a frightening negative effect, most lottery winners will have a hard time managing the money they get. Since they are usually not used
to having large amounts of money, most lottery winners will spend the money they earn on something that is extravagant and unnecessary.
There are stories of lottery winners just a few months back from being poor, this is indeed a problem for people who win lotteries in large numbers.
I suggest for lottery winners to hire professional financial advisors, so that the money they earn can be managed properly.

tabas

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Quote from: Sithara007 on March 25, 2021, 11:43:17 PM

Quote from: tabas on March 25, 2021, 05:24:36 PM

That depends on the declaration of the casino if the tax is already included or not. But if the casino says that's tax free then jackpots like this are truly a wealth that you can enjoy forever.
That's what mostly cuts the fun when hear someone says about tax.

It is a little bit complex for foreign gamblers. The casino may say that the winnings are tax free, but the gamblers may be from other countries and in such countries this income may be taxable. Or worse still, gambling may be illegal in these countries and therefore in the tax return the amount needs to be reclassified as a gift or business income. The better option would be to convert it to Bitcoin and anonymously transfer it back to the home country of the gambler.

Yes, that's a pain if they're going to fly it to their main land. They really have to include the declare their money and where it came from. And it's hassle if the country has huge taxation for money that came from gambling.
And it's a big problem if the country declared it illegal pertains to gambling, that's a huge thing to be concerned but there's a way these days through converting to bitcoin.

Sithara007

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Quote from: tabas on March 25, 2021, 05:24:36 PM

That depends on the declaration of the casino if the tax is already included or not. But if the casino says that's tax free then jackpots like this are truly a wealth that you can enjoy forever.
That's what mostly cuts the fun when hear someone says about tax.

It is a little bit complex for foreign gamblers. The casino may say that the winnings are tax free, but the gamblers may be from other countries and in such countries this income may be taxable. Or worse still, gambling may be illegal in these countries and therefore in the tax return the amount needs to be reclassified as a gift or business income. The better option would be to convert it to Bitcoin and anonymously transfer it back to the home country of the gambler.

btc78

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Quote from: South Park on March 25, 2021, 11:11:02 PM

Quote from: 7788bitcoin on March 22, 2021, 10:05:11 PM

Quote from: South Park on March 22, 2021, 12:53:27 AM

Those winners need to recognize their limitations, there are two ways in which they can receive their prize money, the first is as a lump sum which is the most popular option but the other is to receive just a part of the prize every single year for a few decades, while this is not as attractive this by default will mean that you will be rich for decades without doing anything and yet those winners do not accept it and then go bankrupt or even kill themselves by living in luxury.

That is not how a lottery or a jackpot works, after the taxes they can deposit them in a bank or any other investment if they are smart and usually jackpot winners end up loosing everything as they spend most of their money in gambling and luxury rather than having a smart investment and you can search online for jackpot winners who lost everything and you will get many stories.

I will have to disagree, this is one of the ways winners can receive their prize, it is not popular but it is an option, instead of receiving all the money in a single check they can receive it during a period of time, for example 20 years, this has the advantage that this will limit their potential to squander their fortune in just a few years and will help them to be slightly more responsible, also that money automatically gets invested in some of the safest investments available so at least it protects partially the purchasing power of their unclaimed fortune.

There is nothing to argue mates because you are both correct , because the Option is depend to the winner . he can choose to take it all or he can choose to let the funds stays and get it little by little for assurance and safeties.
and also depend in which countries/Governments rules in Lottery because each of ours has their own rules how to distribute the wins , Just like in Showtime winnings there are others that does not give completely in one time instead i partial.

South Park

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Quote from: 7788bitcoin on March 22, 2021, 10:05:11 PM

Quote from: South Park on March 22, 2021, 12:53:27 AM

Those winners need to recognize their limitations, there are two ways in which they can receive their prize money, the first is as a lump sum which is the most popular option but the other is to receive just a part of the prize every single year for a few decades, while this is not as attractive this by default will mean that you will be rich for decades without doing anything and yet those winners do not accept it and then go bankrupt or even kill themselves by living in luxury.

That is not how a lottery or a jackpot works, after the taxes they can deposit them in a bank or any other investment if they are smart and usually jackpot winners end up loosing everything as they spend most of their money in gambling and luxury rather than having a smart investment and you can search online for jackpot winners who lost everything and you will get many stories.

I will have to disagree, this is one of the ways winners can receive their prize, it is not popular but it is an option, instead of receiving all the money in a single check they can receive it during a period of time, for example 20 years, this has the advantage that this will limit their potential to squander their fortune in just a few years and will help them to be slightly more responsible, also that money automatically gets invested in some of the safest investments available so at least it protects partially the purchasing power of their unclaimed fortune.

tabas

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Quote from: dunfida on March 25, 2021, 04:08:11 PM

Quote from: tabas on March 25, 2021, 03:59:08 PM

Quote from: ?? on ??

I think it is one of the biggest winnings of all time in mega bilions, they are right in my opinion not to disclose the name of the winner, of course the state takes a large chunk of the winnings in taxes, perhaps too much, in my opinion the winnings from the gambling do not should be taxed, it would be better for him to choose the deferred payment over 29 years,it was really lucky

If it's stated that taxes are included then even if they will expose who the winner is, it will still be deducted. But that's not the main purpose why winners are not revealed.
It is for their safety that no person will know them because of the money that they have, they might been robbed and attacked by anyone who has bad intentions once they know who the winner is.

Taxes cant really be evaded as long it has been imposed that they would really be needing to pay up or having those reductions.Most lottery winnings are already been taxed or can be tax-free
just like here on my country which means there are no reductions.I dont know on how they do that knowing that every government around the globe does really consider on getting reductions
when it comes into these kind of winnings.I dont see the point on telling that paying up tax will be the reason on why someone should be hided.It is indeed the other way around
which is basically trying to avoid those people who do have bad intentions because this isnt a small money we are talking on.

That depends on the declaration of the casino if the tax is already included or not. But if the casino says that's tax free then jackpots like this are truly a wealth that you can enjoy forever.
That's what mostly cuts the fun when hear someone says about tax.

dunfida

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Quote from: tabas on March 25, 2021, 03:59:08 PM

Quote from: ?? on ??

I think it is one of the biggest winnings of all time in mega bilions, they are right in my opinion not to disclose the name of the winner, of course the state takes a large chunk of the winnings in taxes, perhaps too much, in my opinion the winnings from the gambling do not should be taxed, it would be better for him to choose the deferred payment over 29 years,it was really lucky

If it's stated that taxes are included then even if they will expose who the winner is, it will still be deducted. But that's not the main purpose why winners are not revealed.
It is for their safety that no person will know them because of the money that they have, they might been robbed and attacked by anyone who has bad intentions once they know who the winner is.

Taxes cant really be evaded as long it has been imposed that they would really be needing to pay up or having those reductions.Most lottery winnings are already been taxed or can be tax-free
just like here on my country which means there are no reductions.I dont know on how they do that knowing that every government around the globe does really consider on getting reductions
when it comes into these kind of winnings.I dont see the point on telling that paying up tax will be the reason on why someone should be hided.It is indeed the other way around
which is basically trying to avoid those people who do have bad intentions because this isnt a small money we are talking on.

tabas

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Activity: 2954

Merit: 725

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Quote from: ?? on ??

I think it is one of the biggest winnings of all time in mega bilions, they are right in my opinion not to disclose the name of the winner, of course the state takes a large chunk of the winnings in taxes, perhaps too much, in my opinion the winnings from the gambling do not should be taxed, it would be better for him to choose the deferred payment over 29 years,it was really lucky

If it's stated that taxes are included then even if they will expose who the winner is, it will still be deducted. But that's not the main purpose why winners are not revealed.
It is for their safety that no person will know them because of the money that they have, they might been robbed and attacked by anyone who has bad intentions once they know who the winner is.

Pamadar

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Quote from: Renampun on March 24, 2021, 07:14:09 PM

Quote from: iTradeChips on March 24, 2021, 07:08:24 PM

My friend told me that it took him 40 years to realize that this is right. He has been struggling financially, earning just enough for his family and not able to get savings, that he wished for another way out of the rat race. I am slowly teaching him some basics on cryptocurrency and I do hope that he might be able to pick up some information here in this forum that could help him turn his life around for the better.

without a side business, it will be very difficult to earn more money...
this is the reason why many people try stock investing, cryptocurrency, lottery, and gambling. and a lot of good news that says that those who are truly successful are those who struggle independently and have independent financial capabilities.

The struggles are the pathways to seek for any ventures to succeed.

A lots of people use this struggle to work out and find the right ways to earn, same with gambling there are many people who use this venue to try their luck and if does, if they win then changing the fate in life is really enjoyed. It's up to the person who won the jackpot to take care and enjoy of his winning money.

michellee

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Quote from: Renampun on March 24, 2021, 07:14:09 PM

Quote from: iTradeChips on March 24, 2021, 07:08:24 PM

My friend told me that it took him 40 years to realize that this is right. He has been struggling financially, earning just enough for his family and not able to get savings, that he wished for another way out of the rat race. I am slowly teaching him some basics on cryptocurrency and I do hope that he might be able to pick up some information here in this forum that could help him turn his life around for the better.

without a side business, it will be very difficult to earn more money...
this is the reason why many people try stock investing, cryptocurrency, lottery, and gambling. and a lot of good news that says that those who are truly successful are those who struggle independently and have independent financial capabilities.

I read about many people who can succeed in investing in stock, crypto, and other things, including gambling. But not many of them can have that success because, in any of work or investment, we must know how to do the right thing to make money and use that way for the other source of income. But after they can get the money, that will depend on how they can manage their money for their future because if they spend it at once, they will not have a chance to survive in the future.

Topic: Another insane win!! $ 1B mega million jackpot - page 2. (Read 7883 times)