Hot answers tagged

7

There is a big risk: The other participants might stop once they win, thus if you don't win early the game might stop before you win a month. If it goes six months without you winning and then then stops you have spent 60,000. There can be legal issues if it is viewed in your jurisdiction as gambling, and that form of gambling is illegal. It might even ...


3

It doesn't matter where you live when you file your taxes; who has a claim on your income tax it is based on where you live and/or work when you have the income. It can become more complex if you live in one state and win in another. But moving after you receive the money doesn't allow you to change the state tax situation. Of course getting many payments ...


2

Rule #1: Don't go the lottery route--because lottery players are categorically bad at math and finances. Expecting to manage finances wisely after having played a game with a net negative expectation of gain is like expecting a thistle to grow strawberries. My father happened to read the manufacturer's motto on a shipment of slot machines before they were ...


Only top voted, non community-wiki answers of a minimum length are eligible