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Topic	Financial planners upset as Powerball winner buys $73 million LA mansion
DerWillZurMacht 09/27/23 7:18:42 PM #166:	KitKats posted... They dont actually have the $850 million to pay out, that is only an estimate of how much the jackpot would be worth after 30 years of investment. The annuity is paid out over 30 years. When you get the lump sum, they will automatically withhold 24% for federal income tax, and you will have to pay more when the time comes around. You wont be able to flee the country with the money, its not like they hand you a bag of cash. Getting the bag of cash would actually make it hard to flee. Once you get the check or whatever, place it in an offshore, untouchable bank, then leave and your're golden. <cite>DerWillZurMacht posted [p:976343728] in Financial ... [t:80578179]...</cite> <quote>KitKats posted... </cite><quote>They dont actually have the $850 million to pay out, that is only an estimate of how much the jackpot would be worth after 30 years of investment. The annuity is paid out over 30 years. When you get the lump sum, they will automatically withhold 24% for federal income tax, and you will have to pay more when the time comes around.You wont be able to flee the country with the money, its not like they hand you a bag of cash.</quote>Getting the bag of cash would actually make it hard to flee. Once you get the check or whatever, place it in an offshore, untouchable bank, then leave and your're golden.</quote> ... Copied to Clipboard!
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