These people have no idea what they have just exposed themselves to:

Warehouse worker takes third of $1.6 billion Powerball pot

A small town warehouse supervisor turned in one of three tickets splitting the world-record $1.6 billion Powerball jackpot, and swiftly announced that he would take his money now, giving up hundreds of millions of dollars in the future.

John Robinson said he reached out to his brother for help assembling a team of lawyers and financial planners before deciding to take the winnings in a single lump sum of nearly $328 million, rather than let the Lottery invest the prize and pay him 30 annual installments totaling an estimated $533 million.

Why pass up on a certain income totaling more than $200 million?

John Robinson, front right, arrives at the Tennessee Lottery headquarters with his wife, Lisa; daughter, Tiffany, center; and family dog Friday, Jan. 15, 2016, in Nashville, Tenn. At left is Rebecca Hargrove, president and CEO of the Tennessee Lottery. The Robinsons claim to have one of the winning tickets in the record $1.6 billion jackpot drawing that took place Wednesday. (AP Photo/Mark Humphrey)

"We're going to take the lump sum, because we're not guaranteed tomorrow," Robinson said. "We just wanted a little big piece of the pie. Now we're real grateful we got the big piece of the pie."

They have no plans to move from their small, grey, one-story house in Munford, a town of about 6,000 north of Memphis.

Why not move into a luxurious compound somewhere?

Rebecca Hargrove, left, president & CEO of the Tennessee Lottery, presents a check to Dana Naifeh, right, owner of Naifeh's Grocery in Munford, Tenn., Thursday, Jan. 14, 2016. One of the winning Powerball tickets in Wednesday's record jackpot drawing of $1.6 billion was sold at the store. (AP Photo/Karen Pulfer Focht)

"I've never wanted that in the past. I don't really want that now," said Lisa Robinson, who works in a dermatologist's office.

http://www.ajc.com/ap/ap/top-news/tennessee-couple-claims-they-have-powerball-jackpo/np5qx/

Considering the age, it´s probably better to take all the money right now and not in parts.

Who knows, maybe they are afraid that the lottery might lose all that money in the next couple of years.

if you mean going public I agree. If you mean taking the lump sum i do not agree.

taking the payments over time risks the lottery not going under. It is not guaranteed you will get it.

now payments is good if you are not very smart. And you can always either buy an annuity or cash out a payment of one... so i am not sure there is even a big difference between the two other than who is managing to money.

but before claiming it either way get an attorney...pay a few 100K to get it right. Set up a trust. Set up a way to split it if you choose to share it with anyone (especially family so it is only taxed ONCE) make sure you get a will so any unpaid willings will be sent to the person you want to have it...

As to going public a few states let you claim it anonymously but some of the others have ways around that. the fewer people that know the better.

But mostly just say calm and do not go nuts! too many lose it and spend it all!

OnlyNDaUsa said:

if you mean going public I agree. If you mean taking the lump sum i do not agree.

taking the payments over time risks the lottery not going under. It is not guaranteed you will get it.

now payments is good if you are not very smart. And you can always either buy an annuity or cash out a payment of one... so i am not sure there is even a big difference between the two other than who is managing to money.

but before claiming it either way get an attorney...pay a few 100K to get it right. Set up a trust. Set up a way to split it if you choose to share it with anyone (especially family so it is only taxed ONCE) make sure you get a will so any unpaid willings will be sent to the person you want to have it...

As to going public a few states let you claim it anonymously but some of the others have ways around that. the fewer people that know the better.

But mostly just say calm and do not go nuts! too many lose it and spend it all!

Exactly my thoughts.

You seem to know quite a bit about what to do after winning the lottery. Do you know people who have won? And if so, have they changed after winning? I mean personalitywise, etc.

KoolEaze said:

OnlyNDaUsa said:

if you mean going public I agree. If you mean taking the lump sum i do not agree.

taking the payments over time risks the lottery not going under. It is not guaranteed you will get it.

now payments is good if you are not very smart. And you can always either buy an annuity or cash out a payment of one... so i am not sure there is even a big difference between the two other than who is managing to money.

but before claiming it either way get an attorney...pay a few 100K to get it right. Set up a trust. Set up a way to split it if you choose to share it with anyone (especially family so it is only taxed ONCE) make sure you get a will so any unpaid willings will be sent to the person you want to have it...

As to going public a few states let you claim it anonymously but some of the others have ways around that. the fewer people that know the better.

But mostly just say calm and do not go nuts! too many lose it and spend it all!

Exactly my thoughts.

You seem to know quite a bit about what to do after winning the lottery. Do you know people who have won? And if so, have they changed after winning? I mean personalitywise, etc.

No I just know how people are with money. I have known a few people go into pro-sports... one one was a big name. the other 3 did a few years. One owns some fast food joints, one is a high school coach, one is broke.

I also know how if people THINK you have money they ask for some. I refied my house and got a few K refund out of the escrow and I told one person and that person blabbed and sure enough... people asked for money! LOL i told them all "we got a refund but we had to send it to the new company"

OnlyNDaUsa said:

Dauphin said:

OnlyNDaUsa said:

No I just know how people are with money. I have known a few people go into pro-sports... one one was a big name. the other 3 did a few years. One owns some fast food joints, one is a high school coach, one is broke.

I also know how if people THINK you have money they ask for some. I refied my house and got a few K refund out of the escrow and I told one person and that person blabbed and sure enough... people asked for money! LOL i told them all "we got a refund but we had to send it to the new company"

If you have a trusted and good estate management team, usually through a bank that can offer trust investment services or the like, you'll much better in the long term taking lump sum. If you don't, taking the long payout ensures you have cash as long as you are alive. Then you die and the state gets the remainder, depending on the state as I recall.

i do not thing so. i think it is part of the estate. so if one dies whoever is legally able to clai

m the estate would get the rest. and if there is no known beneficiary the state can not just take it

morningsong said:

Exhibit B Chino Hills, CA – 1 of the 3 $1.5B Powerball jackpot winners was found in his new multi-million dollar home dead of an accidental cocaine overdose. 32 Year-old James Hugston was 1 of the 3 lucky winners to hit the billion dollar jackpot. He received an estimated $327 million lump sum. His first purchase was a multi-million dollar furnished home. Rick Kingston a close friends of James said he was trying to keep his identity a secret and was doing it well by quickly moving out his 2 bedroom apartment where he lived with his girlfriend who he broke up with once he won. At the multi-million dollar home where James Hugston was found dead over a kilo of cocaine was found close friend Rick Kingston said “James went crazy fast! First he bought this huge house then cocaine and invited over 10 hookers from backpage” a website know for prostitution. It is unclear what will happen with the remaining of his winnings James Hugston only has 1 living family member his 60 year old mother Melissa Hugston who has not commented on this tragic situation. visit TheReporterz.

this has to be a lie

Sure seems to be a joke news site... i do not think anyone has recived any payouts yet..

[Edited 1/17/16 8:19am]

morningsong said:

You may be right. But it said he took out a loan which I couls see that being possible.

you can not get a loan that for that much unless you alread had that kind of money... it is all a hoax... it is just a joke.

But the point is the same: people sometimes lose their minds and end up making horrible choices. I am sure some big money winners did something like this or died shortly after winning due to so excess that was achieved with said winnings.

morningsong said:

Yes you could, heck if payday loans are available on every street corner, some of that is not legit, on amounts that large, somebody somewhere would fudge something to get their cut. The professional beggars come out the woodwork the minute they find out you've won. They say nobodys come forward in Chino, that's about it. I think that was a composit of various winners.

Not for anywhere near that much. Maybe a few hundrend... not enough to even rent that house for the weekend... UNLESS as I said you had that kind of money/income already. Or some asset to put up.

It was just a joke story.

What do you mean?

Do you think they were wrong because they revealed their identity? They had to - that's the law in Tennessee.

Do you think they were wrong because they took a lump sum? I am sure just about any financial advisor can beat government securities when it comes to returns. Or, they can invest the lump sum in government securities, live off the interest, and never ever touch their principal. And, estate planning is easier with present assets rather than future cash flows.

Do you think they were wrong because they hired a team of lawyers and financial planners to help them manage the money? That's surely got to be better than NOT hiring professionals.

I have no idea what you mean by either "What NOT to do when you win the lottery" or "These people have no idea what they have just exposed themselves to".

morningsong said:

Exhibit B Chino Hills, CA – 1 of the 3 $1.5B Powerball jackpot winners was found in his new multi-million dollar home dead of an accidental cocaine overdose. 32 Year-old James Hugston was 1 of the 3 lucky winners to hit the billion dollar jackpot. He received an estimated $327 million lump sum. His first purchase was a multi-million dollar furnished home. Rick Kingston a close friends of James said he was trying to keep his identity a secret and was doing it well by quickly moving out his 2 bedroom apartment where he lived with his girlfriend who he broke up with once he won. At the multi-million dollar home where James Hugston was found dead over a kilo of cocaine was found close friend Rick Kingston said “James went crazy fast! First he bought this huge house then cocaine and invited over 10 hookers from backpage” a website know for prostitution. It is unclear what will happen with the remaining of his winnings James Hugston only has 1 living family member his 60 year old mother Melissa Hugston who has not commented on this tragic situation. visit TheReporterz.

LOL, if you can't trust "The Reporterz" who can you trust? Next, someone will be telling me the "Ballerz" aren't reputable, either.

RodeoSchro said:

morningsong said:

RodeoSchro said:

LOL, if you can't trust "The Reporterz" who can you trust? Next, someone will be telling me the "Ballerz" aren't reputable, either.

Yeah well trusted what I heard over paying attention to what I read. It was heart over mind.

No sweat, it was a funny story! I especially laughed at the line, "...he was trying to keep his identity a secret and was doing it well by quickly moving out his 2 bedroom apartment where he lived with his girlfriend who he broke up with once he won"

OnlyNDaUsa said:

morningsong said:

Yes you could, heck if payday loans are available on every street corner, some of that is not legit, on amounts that large, somebody somewhere would fudge something to get their cut. The professional beggars come out the woodwork the minute they find out you've won. They say nobodys come forward in Chino, that's about it. I think that was a composit of various winners.

Not for anywhere near that much. Maybe a few hundrend... not enough to even rent that house for the weekend... UNLESS as I said you had that kind of money/income already. Or some asset to put up.

It was just a joke story.

A few hundred? Pfft! There is always somebody. Even this one has ways to borrow more than $15,000.

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[Edited 1/18/16 14:02pm]

RodeoSchro said:

morningsong said:

RodeoSchro said: Yeah well trusted what I heard over paying attention to what I read. It was heart over mind.

No sweat, it was a funny story! I especially laughed at the line, "...he was trying to keep his identity a secret and was doing it well by quickly moving out his 2 bedroom apartment where he lived with his girlfriend who he broke up with once he won"

He know he was only livin' whit her cause his mama kicked him out, an' he didn't want to be out on the street.

BTW, speaking of the lottery:

That GoFundMe account set up to reimburse someone named "Cinnamon Nicole" (who is a real person, at least on Facebook) has been shut down and was almost certainly a hoax.

Still raised $810 though....but all donations were refunded to the donors.

The Warehouse Worker did the right thing by taking the Lump-some upfront...I forget what state but The National News reported last year that a States treasury was BROKE or The State Treasury did not have the funds to pay their state-wide Million Dollar Lottery Winners a lump-some or annual money...Now that is Fucked up...I think they said even taking the State to court would have been a waste of time..So yeah, taking the Lump-some is the wisest move Cuz down the road your State could declare bankruptcy and tell you they don't have a penny to pay your Lottery winnings....

morningsong said:

OnlyNDaUsa said:

Not for anywhere near that much. Maybe a few hundrend... not enough to even rent that house for the weekend... UNLESS as I said you had that kind of money/income already. Or some asset to put up.

It was just a joke story.

A few hundred? Pfft! There is always somebody. Even this one has ways to borrow more than $15,000.

Loan for Lottery Winnings

Are you looking for a loan for lottery winnings?

If you are a lottery winner, Stone Street Capital offers a variety of financial services just for you.

0% QuickCash Loan for Lottery Winnings
With no need to sell your prize payments, this is not your ordinary lump sum loan option. With the 0% QuickCash Loan, you can get up to $15,000 and enjoy for up to one full year:
• Zero Interest
• Zero Payments
• Zero Need To Sell Your Lottery Prize
• Zero Hidden Costs

The 0% QuickCash Loan is the perfect loan to take care of some short term needs. With amounts ranging from $500 to $15,000, why would you take out a high interest loan or credit card?

Terms & Conditions

0% Jumbo Loan for Lottery Winnings

Need a more than $15,000? You can get it with Stone Street Capital’s exclusive 0% Jumbo Loan. For up to one full year, you receive:
• 24 hours turnaround
• 0% Interest
• No need to sell your prize

Lump Sum Option
Stone Street Capital offers lottery, contest or slot jackpot winners the choice to sell their prize payments in exchange for a cash lump sum. We provide lump sum cash to:
• Lottery winners
• Contest winners
• Slot jackpot winners

You may choose from a variety of lottery winnings payout options, including selling:
• The full amount of remaining lottery winnings
• Any number of remaining lottery payments
• Any percentage of the remaining total lottery payments
Even if you first opt for a partial lottery lump sum conversion, you can always return later when new needs arise.

[Edited 1/18/16 14:02pm]

but that would have to hinge on said winnings being varified.

morningsong said:

So. The point remains somebody will lend you money based on your lottery winnings and definitely over a few $100. Heck I see the commercials all the time of people who'll lend money on projected court settlements whether you win your case or not. I wouldn't put much stock on what"s needed to verify if someone won the lottery, I'm sure it doesn't take a lot.

.

say, you got five bucks i could borrow? bought a lottery ticket last year that i think will pay off big this year!!!

XxAxX said:

morningsong said:

So. The point remains somebody will lend you money based on your lottery winnings and definitely over a few $100. Heck I see the commercials all the time of people who'll lend money on projected court settlements whether you win your case or not. I wouldn't put much stock on what"s needed to verify if someone won the lottery, I'm sure it doesn't take a lot.

.

say, you got five bucks i could borrow? bought a lottery ticket last year that i think will pay off big this year!!!

Suuuurrre. I'll meet you at the corner store. I might run a little late, but you wait til I get there.

There is no way I would go public.

Unfortunately, in Canada you have no choice. You have to be named along with the city you reside in to collect. Scary shit.

JustErin said:

There is no way I would go public.

Unfortunately, in Canada you have no choice. You have to be named along with the city you reside in to collect. Scary shit.

Yeah, most states in the US require disclosure too. First thing I'd do is move to a gated community or secure highrise, and rent out my current house. Then after however long it takes for me to get off the radar of the moochers, I'd probably move back to my old house.

I would not deal well with strangers knocking on my door.

if you do not want to be named do not claim the ticket. But i do believe that in the US anyway in most states you can still create a blind trust to collect the winnings of any of these.

But yeah there are some crazy stories of people getting sued or killed or just hounded... a woman i knew of won a million or so and had most of it taken by the state and city for unpaid taxes! She was all mad but damn woman at least those bill are paid! (she owned a small shoe store and had some tax issues)