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Wednesday, November 28, 2012

For Sale: Avon or Avon Lake? Powerball's Not Enough

How would you spend tonight's Powerball winnings? We say, "Shop Local."

Since no one in Ohio or elsewhere won the latest multi-state Powerball jackpot the pot will increase to a minimum $425 million for Wednesday’s drawing, Ohio Lottery officials said. The amount signifies one of the largest Powerball pots in the history of the game. It’s not exactly pocket change. According to the PowerBall/Mega Millions Calculator (really, there is one), the $425 million pot would result in one lump-sum payout of  $229,702,385  ($149,306,550.00 after 35 percent tax) or one initial payment of $14,166,667 plus  $9,208,334.00 (after 35 percent tax) per year for 29 additional years. Just in time for holiday shopping. Assuming that there is peace on earth, the world is fed and no one on the planet is in dire need of anything, how…

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French Swede

5:16 pm on Wednesday, November 28, 2012

Hockey in Barbados. "Cool idea". But you'd still probably have to look for a goalie.   more ›

Thursday, March 29, 2012

How Would You Spend Your MegaMillions Riches?

A half-billion dollars? Yes, please!

It's time for that classic question, "What would you do if you won the lottery?" The MegaMillions prize is at a staggering $540 million. That's halfway to billionaire territory, people. And if no one wins Friday's drawing, it gets even bigger. So let's have some fun. Share in the comments some ideas for spending a half-billion dollars (I keep hearing "a half-billion dollars" in Dr. Evil's voice). Would you keep living in your current home? Upgrade to a new one? Move away? Share what your dream home would have. Maybe the ultimate garage for working on cars, or an elevator, or a home movie theatre? Of course, we'd all give money to our favorite organizations and causes. Where would you donate? Would you keep working, or compose the ultimate…

Melissa Hebert

6:34 pm on Friday, March 30, 2012

First, John would get his brownstone. He'd probably get another one for the iguana. Various young relations wouldn't have to worry about student loans or college tuition. There'd probably also be a flat in London, a pied-a-terre in Paris, a beach-facing condo in South Beach and a cottage on Cape Cod. Organizations that would be beneficiaries include Love-A-Stray, Hole in the Wall Gang Camp and …   more ›

Tuesday, January 4, 2011

Avonites Dream of Mega Millions

Lottery jackpot hit $355 million Tuesday afternoon

Lottery fever spread in Avon on Tuesday as the Mega Millions jackpot grew to $355 million. The drawing is set for 11 p.m. Tuesday. The Mega Millions jackpots come from a pool of 41 states, including Ohio and Washington, D.C. A resident winning would also be a windfall for Avon and the state of Ohio. According to USA Mega, a website devoted to Mega Millions, a winner would pay $819,231 per year in state taxes if they took the annuity and would make one $13,440,000 payment if they took the lump-sum settlement of $224,000,000 minus the $56,000,000 in federal taxes. With an income tax rate of 1.75 percent, Avon could get as much as $3,920,000  if the winner lives here and takes the lump-sum settlement. If the winner takes the annuity of…

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