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the jackpot for the last lottery was one

billion five hundred million dollars now

let’s say hypothetically you won the 1.5

billion dollar jackpot do you know how

much of that money you would actually

keep you see if you won the 1.5 billion

dollars and you asked for the money

immediately you would not get 1.5

billion dollars if you ask for all the

money right when you hand them the

ticket they’re only going to give you

nine hundred and thirty million but if

you spread out the payments over thirty

years you will receive the full 1.5

billion this is because the lottery lies

to us you know when you see the

Billboard or the commercials you see 1.5

billion dollars how they advertise the

jackpot being that high that’s not how

much money they have in fact they only

have nine hundred and thirty million

sixty-two percent of that but they

advertise it at 1.5 billion which is why

if you won the 1.5 billion dollar

lottery and asked for the money right

away

they’d only hand you a check with nine

hundred and thirty million but if you

spread it out over 30 years that gives

them time to invest the nine hundred

thirty million and so if you spread it

out over thirty years you would receive

the full 1.5 billion they advertise but

that’s only if you wait 30 years instead

of asking for it upfront this is because

they take the money and invest it

obviously if you borrow a thousand

dollars from a bank

you’re not going to owe the bank a

thousand dollars you’re going to owe the

bank a thousand dollars plus interest so

you’re going to owe them like a thousand

one hundred dollars and that’s what the

lottery does if you wait thirty years

then that gives them time to loan out

the money to people and make you know

investments you know make return on

their money and that’s why if you get

the money right away

you get nine hundred and thirty million

but if you wait thirty years they will

invest it and you’ll get the full 1.5

billion that they advertised and told

you you would

so anyways let’s say you took the 930

million well now you have to pay your

federal taxes which because you got nine

hundred thirty million dollars and that

is classified as income to the

government that puts you in the highest

tax bracket which means you have to pay

thirty nine point five percent taxes on

your nine hundred and thirty million

dollars which basically means of your

nine hundred and thirty million dollars

you’re going to owe the government three

hundred and sixty eight million which is

only going to leave you with like five

hundred and seventy million dollars

after that and then lastly you have to

pay your state tax which six different

states don’t actually charge attacks so

that’s pretty nice if you went in one of

those states but the lowest state is New

Jersey which charges three percent and

the highest is New York which is like

eight point six percent so if you win in

New Jersey you know after the five

hundred and seventy million after

federal and you know the lottery takes

their part and then state tax is

probably on take you know from New

Jersey like twenty million so you’re

still gonna be left with you know five

hundred and forty million but if you win

in New York that a percent it’s actually

going to take a little bit of a chunk

you know because a percent of a billion

dollars is eight hundred million so 500

million dollars eight percent of that

still going to be like forty million

dollars so if you won in New York try to

move somewhere else before you claim

your ticket or something like that I

don’t know if that’s how it works

anyways that’s that so it all said and

done you win the lottery let’s exclude

the state taxes because it’s based on

where you live if you win the lottery

you’re going to get five hundred and

seventy million dollars that’s not

including state tax and it’s advertised

as a 1.5 billion dollar lottery but if

you actually win you’re only going to

get five hundred and seventy million

which is still a lot your kids kids kids

kids kids and no one in your family is

ever going to have to work as long as

you invest it and aren’t and you know an

idiot and blow it all in like cocaine

and alcohol and stuff like that so

anyways as the video hopefully you

enjoyed

so