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I'd stick around for at least a while..... I like to think I'd stick around for a long time, but I'm realistic enough to know that my life and mindset would change to the point that I can't conceive right now.

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This. If it were life changing money (generational), I'd probably be able to tough it out for a couple of months while I decide on where I'm going to live. I can't say it will be a productive 2 months, but I'll probably put out as much effort as you typically see at the office at 3 pm on Christmas Eve. Then, I'll take a week off and provide my notice when I got back. As some mentioned, leaving right after could cause suspicion. My week off would hopefully be used to find a piece of property in Colorado to build a nice log cabin on.

If it were say $20mm, I'd stay quiet and keep my job. I'd probably move closer to work, but I wouldn't retire. Ask me when I'm in my 40's or 50's and that might change.

"If it were say $20mm, I'd stay quiet and keep my job. I'd probably move closer to work, but I wouldn't retire. Ask me when I'm in my 40's or 50's and that might change."

Agreed. 20M will go away pretty quickly if you're not careful.

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What would be the case for the annuity since everyone always talks about the cash option?

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I guess the only case would be if you're God awful with money. Also, people not understanding the concept of investing. Assume you take cash option and get roughly $500MM after taxes. I could invest that and at a 4% (very conservative number) return, have an end balance of $1.6MMM after 30 years. That is a very short look at it, without getting into taxes, expenditures, and whatnot.

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How much would you have after 30 years if you invested the annual payment at 4% every year?

Just for arguments sake. I'd have to whip out excel to do it and I'm not in front of computer.

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I calculated it a while back and if i remember correctly the break even point was about 6.5% annualized ROR. This was assuming taxes stay the same for the full term, no expenditures with either option and getting the same return rate on both options. so as long as you are getting better than 6.5% your best bet is to take the cash value and invest it yourself. and at the current jackpot you could do some serious portfolio diversification at $561 Million after tax value... Gulfstreams are considered and investment right?....

After tax is now estimated at over $900mm

If I were single and didn't have kids, I'd be on an island somewhere serving drinks at a beach bar.

But just entering my mid-30's with 2 kids under 3? $20mm would eliminate all debt and allow us to have a pretty good life on my salary until I reach my late-40's and the kids are out of college. Then I'd probably retire.

Don't think that's accurate. Est annuity is $1.5 B, est lump sum is $930 MM, Est ATAX lump sum would be (1-.394)*930MM = $563.6 MM

You're right...cash option is over $900mm.

$20MM would allow you to live on about $800k/year and never touch the principle. I don't know if I would keep working or not, but I certainly would be able to afford not to.

Having a job is much better than needing a job.

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Don't think that's accurate. Est annuity is $1.5 B, est lump sum is $930 MM, Est ATAX lump sum would be (1-.394)*930MM = $563.6 MM

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$563.6MM. Damn government. How is anybody supposed to make it on so little.?

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Also, when I win, my first phone call will be to SquareOne07 to see if it makes sense for me to buy a new auto yet or not.

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Great timing that I come to read this actually! My wife, daughter (2), and I just spent our evening picking up her coworker from the side of I-35 in their POS 2004 Chevy with 140,000 miles on it. No big deal, working on a broke down car in the left hand shoulder of I-35 is absolutely fine with a couple of toddlers...at least their car was paid off!

You guys who say you'd keep working if you won $20 million, net, are crazy.

If I won $5 I would be peacing out.

Looks like 1 winner in California. That mothereffer.

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Looks like 1 winner in California. That mothereffer.

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Wow! 1 guy!!!

Edit: California is saying they have a winner but that they're awaiting other results in other states.

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Looks like 1 winner in California. That mothereffer.

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There is only one place worse to win tax wise in the U.S. and that is NYC

Winner in Florida as well.

Californians don't pay any tax on lotto outside of fed. Not a bad deal at all. Other states are similar.

http://time.com/money/4177517/powerball-jackpot-taxes/

Still a very very high state income tax which will push the total tax bill to around 50%. Which is still a crapload of money, but it's 50%

I love you, Square.

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Californians don't pay any tax on lotto outside of fed. Not a bad deal at all. Other states are similar.

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They'll get you on investment income

Collin, reread. You don't pay CA state tax on lottery winnings. Theyd pay the same taxes as someone in TX would.

Hell a Puerto Rican would take home the entire $930 million. Not a dime in taxes.

Are lottery winnings exempt from a state income tax? I highly doubt that. There are lottery taxes in some states on top of state income tax. Trust me, California gets there pound of flesh in that deal. They will still have an income of millions of dollars that California will apply state income taxes too.

Lottery winnings are not subject to state income taxes in California.

Collin I don't know how to say it any other way. The CA winner will not pay any money to CA from his lottery winnings. Only to the fed gov.

Maybe this link that explains it better than my last.

http://www.sacbee.com/news/state/article54540405.html

You guys need to calm down, you're not the only ones who didn't win the lottery. Saying the guy who won in CA is going to pay a bunch in taxes is the lamest moral victory ever.

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Looks like 1 winner in California. That mothereffer.

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It's Dan Bilzerian.

Sorry. I had posted before you added the link. I just find that so weird especially in that liberal money hungry state.

Yeh, def. an interesting omission from their state tax code.

Why would anyone who has any sense of how money is earned ever live in this liberal money hungry state? For me personally, because it's worth every penny.

That ticket shows 5 lines, A - E, yet only shows numbers on A, and total ticket price is $2. That's some failed photoshopping.