Powerball Warning From Kevin O'Leary of 'Shark Tank' | TMZ Live
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- เผยแพร่เมื่อ 13 ม.ค. 2016
- Kevin O'Leary has some advice and some warnings for the potential winners of the HUGE Powerball jackpot.
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Powerball Warning From Kevin O'Leary of 'Shark Tank' | TMZ Live
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The best advice I heard was from Daymond, the other shark. He said before you tell anyone that you won, call everyone you know and ask to borrow money. Those that give it to you are your friends, those that don't aren't.
That really is great advice tbh.
that's really good advice. Especially if you know they have it.
+christschool LOL, Good one.
Tjacksun so, you manipulate them to see what they think of you? So clever.
Tjacksun you always know what kind of people you are dealing with, anyway. no need to make a special call to see if they're good people.
Who is here watching this in 2018 because now the Mega Millions is $1.6 billion?
Duh
I didn't even know it wasn't about the current lottery until I read your comment. Just showed up in my recommended
Just watching vids :) Saw the Sharks, Kevin O’Leary giving tips for winning BIG money, so no matter if this
WirtyDord same here. Principe ideas should still apply, just think of the current amount and consider, the more you make (get in Powerball winnings), the more they (your government) take.
me lol
Why... would you INTERRUPT Kevin in the middle of his damn advice. No one wants to hear what you have to say, we all clicked to hear Kevin
Rima Salman agreed
Kevin aren't the only one with a mouth.
Kevin O'Leary is a horrible human being. He needs a good ass whooping
they need attention... desperately
Like so true!
Every time my husband or I get a ticket he warns me that if we win were dropping off the grid and nobody will ever hear from us.
Smart man. Listen to him.
Your screen name. I bought a Yankee Candle air freshener with that name. Lol.
It's nice.
@@windsofmarchjourneyperrytr2823 Facinating. 😒
Wouldn't you just shit if O'Leary won the fucking Powerball.
+P Sander I would have been pissed ...I want someone who has a good heart and will give most of if to good causes to win .
I'd rather him win the powerball than someone who's poor and wastes all their money on lottery tickets.
Tjacksun Exactly. Business investors like Kevin actually know how to manage money. I also respect how they earned their money. Winning the lottery is not earning your money, so it should go to those who have already worked hard.
Tjacksun True. I'm pissed that some hobo got all the money
I would DIE
TMZ - please have an episode where Kevin gives his financial advise. Without you interrupting him.
David Chang watch Dave Ramsey
David Chang ha
thanks for asking that. Im sooo sick of Harvey interrupting.
I know,Right
Exactly my thought. Now I don't have to write that comment...dumbshit
Im not telling anyone shit. I keep living the way i have been and a year later i disappear. Secretly moved to another country.
Exactly
Yea you have a state lottery office where you live. Dont think you plan on going to every gas station in the world to cash 500 bucks at a time.
And being he doesnt know all 50 states and if u buy in 1 state and live in another thats 2 different amounts could b more could b less
I would give my family members some money and let them know there won't be any more money given so don't ask.I would move buy a nice home with a back yard that fruit trees where I can plant flowers and have a vegetable garden that would keep me busy and live in peace and Quiet while sipping my tea.
@@saracruze2212 when can we get married lol?
I'm beginning to understand that the lottery is how the government raises money for itself. The taxes alone is pure greed.
Dixie Carter once referred to the lottery as a ‘government sanctioned rathole to throw your money down’.
I couldn’t have said it better.
the house always wins
"400 million still good pocket change" lmaoooo goals af
I'm living my best life, my business partner who we worked together few months referred me to deepwebservice01 AT gmail DOT com when I was very broke because of some bad business decisions and i got a transfers of over $65,000 with their help. I was about going homeless but now i can pay my bills comfortably, they also help with credit repairs, carding, credit card debts
now you're poor😂
His net worth is $400 million dollars according to multiple sources, so I don't know how he can say it's pocket change lol
Hollyann Rose except that’s Kevin’s ENTIRE net worth lmfao. If he sold everything he owned he could maybe come close to $400 mil. He’s not even close to a billionaire
😂😂😂😂👏👌
You told me I can win 1.6 billion and only give me $400 million, for that reason I'm out.
*IT'S FREE FUCKING MONEYYYYYYYYYYYY OMGGGGGGG*
@@deashanorfmanagement5009 this is a joke based off a Shark Tank reference. Barbara is always giving outlandish reasons as to why she doesn't want to make an offer. Its a running joke in TH-cam comments of their videos.
Your 1.6 billion example is the jackpot for 2018s lottery lucks on your side lol better buy sum tickets
I would be happy with 1 million..Dont need much...
Once you actually compare your current account to 400 mill, u won't mind the deduction
4% of $400 million is more than $166K per month. I think Mr. Wonderful was correct in his first assessment. After tax, it's about $8million / year divided by 12 is approximately $600K per month.
Not sure how he got confused. Maybe it was the excitement.
4% of 400 million dollars is 16 million. Then we deduct taxes. Depending on the state the monthly net could be 800k per month. But his other advice on how to invest it was helpful.
Live like you are poor even if you are rich”
The message to family at the end is the best
The first thing you do is NOT TELL ANYONE.
In some states it's mandatory to go public...
Curtis Fuller Yes but I think he means that not to tell anyone until you’ve sorted everything out legally.
Hugh-John Fleming haha 😂 😂😂I love this
PPL NEED TO NOT STEP UP AND GET AN ATTORNEY IF THEY WIN! I don't care if the state requires you to step up or not. You'll have at least a month if not more to sort things out before you are required to claim your prize.
I would kill for this much money........................😐
At 3:30 I wish they would not have interrupted Kevin when he was on a roll explaining what to do.
I agree. These guys suck. That was some great advice.
He said "here's what's going to happen" then they cut him off, but all he was going to do is talk about the family members asking you for money, so them interrupting him didn't change his conversation.
That's because he was about to tell the truth and Harvey didn't won't to be apart of it. You saw the look on his face at the end when Kevin said this is just entertainment
TMZ don't know how to shut their mouths.
Why is this thread still a thing? I already explained it!
He said "here's what's going to happen" then they cut him off, but he later said "here's what's going to happen" and continued to talk about the family members asking you for money, that's what he was going to say!
Love how brutally honest he is.
Is it just me or do all big lottery winners coincidentally live in the same state?
I agree
All on northeast coast.
@@marypatten4853 or somewhere in the middle of the country bought by the most normal person in existence.
Play Powerball & Mega -millions today January 2021 it's up to $400million, going higher💝😄🗽 I need that money bad here in VA. I would buy a home & car, move to FLORIDA.
@Charming Billy worthless piece of shit, your political views are the bottom of the barrel & you and your cult members are a bunch of fucking traitors. But you guys love confederates so being a traitor is LITERALLY in your blood.
Those two need to shut up and let Kevin talk!
What was his reply for money seekers
Patricia Smith right
hahahaa you are an idiot... now you want to learn investing.. there are a million books outthere
There are alot of books, but nobody has time to sift through hundreds of books. Its better when you have a few really good, simple tips so you will actually remember everything
Let Kevin talk? He couldn't even do basic math!
That was misleading advice.
STAY ANONYMOUS!
1. Protect your ticket and do not sign the ticket! Do not sign the ticket!
2. Allow for your excitement to calm down, and give yourself a few days to calm down and to clear your head. Stay anonymous, don't go crazy telling everyone INCLUDING YOUR FAMILY AND CHILDREN (except your legal wife) trust me if you do, you will regret that you did that later.
3. Research, and research and find a decent, honest, well-respected attorney!! I can not emphasize this enough, get a good attorney!!
4. Stay anonymous - Get the attorney and open a trust and have the trust get the winnings from the state, like that you will remain anonymous. Stay anonymous!
5. Get a financial firm to help you with the winnings. This is very important!
6. Educate yourself about finances, retirement, and how to protect your financial interest.
7. Educate yourself! About Real estate
8. Educate yourself! Cars
9. Educate yourself! about how to spend
10. It takes time to get normalized when winning large sums of money because of the money euphoria.
11. Continue to live like you are living and pay off all of your debts.
12. Decide what to do with your employment. Don't lose your logic and reasoning over money, if you like your job, stay or go part-time. You got money and security why act irrational... slow down and calm down, you will think clearer when calm.
12a. Listen to the experts in their field, your attorney, financial advisors, counselor, and mentors. And of course, you will have done your due diligence and good solid research and your circle of people is solid around you.
13. Increase your economics slowly and never allow the money to become your master.
14. Do not lend, give or spoil your children with large amounts of money. As you learn how to be rich, pass that knowledge to your children and teach them how to make money work for them.
15. Do not buy a business, do not get in a business and or invest in any businesses at all! If you were not a business person before winning, you will not automatically become the business person of the year because you won the lottery.
Note: If you were not born rich, you will not know how to be rich, and when you do not know how to be rich, you tend to return to being poor pretty quick!
Think about it! You did not win per se, because you never trained, worked, lived and executed anything to earn such a large amount of money, you got lucky and got a large sum of money. You did not learn how to earn that sum of money, therefore, you have no skills about how to deal with such a large sum of money and since you never had that kind of money you do not know how to live life with such a large sum of money and you have never learned how to develop a lifestyle around such a large amount of money.
If you walk into the world of money without understanding the perils you will be taken advantage of, and you will be poor again within a few years. The internet is full of sad lottery winners who today are utterly broke and again poor! Why? Money euphoria!
Stay humble, don't get cocky, stay humble, don't think because you got the lottery that you are now the smartest person around. You are where you are in life because of many reasons and the lottery is not going to change none of that.
The only thing that the lottery is going to change is that you have money now to pay the experts for advice, but even that requires that you make good decisions and that's is why it is smart to slow down, way down, stay anonymous, educate yourself and to not make a bunch of waves while you are learning how to surf....KISS!
Enjoy! and don't forget to contact me to give me some cash for the advice! LOL!
Educate yourself about cars? LOL. The guys math is wrong. He was right at first. You'll get about 600K per month after taxes FROM THE INTEREST ALONE. Unless you go completely crazy and buy a Basketball team you can't possibly go broke.
The best advice is get an investment advisor firm, not some rogue individual, to manage your money. Live off the monthly interest. Buy some real estate for homes to live in.
I'll definitely do that thanks for the advice!!!
Ok bro
Joe the rag man wonderful advice :D if i win i’ll definitely send some cash to ya as a ty
Joe the rag man hey Joe if I win you becoming my adviser.. Deal
LOOK AT WHEN IT WAS POSTED!
JGAL2
Wow!
Dam giving us old news
The posted date blew my mind more than this video
*confused dog noise*
The lottery only exists because of the all the people who dont win. I if I told 10 people that I will give one of them $50 if they guess what number im thinking from 1 to 50 but they have to pay $10 to even play, majority of my money came from the 9 losers compared to the 1 winner.
Well obviously. It's people's money.
Quick maf
Erwin Tan obviously its obvious just saying its something we tend to forget
Understood.
Lol
I don't even have enough money to buy a ticket.
lol
+Jose Martins I LIKE THAT.
If I sent you $10 via paypal, which once they take out their % you might have about $8, I want you to spend ALL the money on tickets, and if you win, be 100% honest, and split the money 50/50? If you agree, I will send it to you!
boss bunny ,, i am willing ,, you will get 50 % of the original amount minus the cut after the cash request and after the 50 percent on taxes leaves us with not much lol ,, oh and can we keep doing this until we win ,,
in canada the gov does not put a tax on winnings ,,
"We are out of time." No you are not. You do this for a living.
lmao
Hahaha
+harooni22 lol
Riddem79 i
see that rundown on the left of your screen?
see the time slot the show has?
yea, not sure how this comment is even remotely funny.
#stupidpeople
Wish the TMZ host on the left would shut the hell up and let Kevin O’Leary finish a sentence. Smh
This is incredibly stupid advice. We have to understand that this guy is obsessed with making money. If you have 400 mil, why waste time worrying about making more money? Stop thinking like a person who wants to compete with billionaires. Enjoy the fact that you never have to work again and dont start buying yachts and mink coats.
#1. Get lump sum and stay anonymous.
#2. Throw your phone on the trash and get on a plane to somewhere quiet so you can let it all sink in.
#3. Figure out where you're going to put all this money.
#4. Figure out who you are going to give money to.
#5. NEVER return to your home city.
#6. Live life comfortably on like 1 or 2 mil a year and experience life and have fun.
WhatisAntiLogic? Right.. Buy a home, live cheap, live good.
Right! You can put the whole thing in the bank and live off the interest for the rest of your life. You don't have to live anywhere close to 1-2 million per year. Most places overseas doesn't cost nearly as much as the US.
The issue is 70% of lottery winners go bankrupt. So you should invest in making more money just in case.
Invest the money somewhere for your heirs
The price of living is always going up which means your money is going down in value I would say it's best to make your money work for you and future generations I agree with kevin but that's just my opinion
Best thing he said was that he doesn't believe he's going to win. It's pure entertainment. He understands the odds are heavily against him.
+supernova743 maybe. or maybe that is what he just says so he doesn't look bad.
Tjacksun uhh no. he knows he's going to win. he just happened to be wrong.
Tjacksun you are arguing against a maybe. kinda a waste of time, dontchathink?
+supernova743 this is why most wealthy people dont buy tickets unless its something huge like a billion
+supernova743 Yep, anyone with a brain thinks like that. When I spent $20 on the tickets twice so $40 total I wrote it off hell I didn't even check the tickets till a week alter. It's not that important, and WOW I could not believe they didn't know that the $1.6 Billion figure was marketing hype assuming you take the yearly payout. Yeah fuck that, you take the lump sum. And to keep family away, you just move to a gated community so no one is showing up to your door.
‘$166,000 a month, now you’re poor’ 😂😂 sheeeeeesh
Kevin screwed up, panicked under pressure, his original $600,000 a month was correct.
I make around 400 a month so hell that's good enough for me
If 166,000 is poor, sign me up
Ikr that's more than what most people make in a year.
Lori Harding Exactly he really Debbie down the whole power ball lol my dream was shot down smh. Back to working my two jobs.
The rest of the advice went unheard cause these bozos couldn’t stop interrupting. Damn.
😂😩
1. Calculate your yearly expenses.
2. Buy enough government bonds for the coupons to cover your expenses.
3. Buy a diverse portfolio.
4. Relax.
Government bonds, from a government trillions in debt and voting in more all the time….sure , solid plan…
If they tax me 50%, I expect free healthcare, free school and college, year-long maternity leaves, prisons that actually turn criminals into productive members of society instead of torturing them, renewable energy etc.
LMAO right?
Well said!!
syafiqjabar what he said!!😂😂
syafiqjabar yea right lol USA robs its citizens more than any other country
Right and yet people still think that the rich should pay OVER 50% for these things, yet they want to pay the same or even less.
I work in a convenience store and I can tell you that the drawing day for this jackpot still gives me nightmares. I had a line of 60 people with 3 other employees helping but there was nothing we could do to speed up the machine that prints the tickets. The people that really slowed it down was the customers that bought $1000 in Powerball
Then you know where the morons are...
Now you can buy them all online.
$1000 in PowerBalls!? Wow 😯
@@rafaelalba0910yup those are the people they want to play 😂 just no judgement all delusion and hope
He’s awesome! Always good to have a friend that’s brutally honest!!😅
"it's still good pocket change" 400 million 😭 he's my favourite shark 🤣🤣
*Its now October 23 2018 and the Mega Millions is 1.6 bil.*
Dude!! I bought 50 bucks worth. But I haven't played in like 2 years lol
And one ticket in south carolina won it all
@@bigpoppajersh
Maybe it was my wife, I better call before she spends it all before I get back home...
Fake news
@@keyy171 really?
1.6 Billion turns to 400 million. What a rip this government is. Criminals and thugs at the highest level!!!!!!!!!!!!
The 1.6 billion is the annuity amount over 30 (?) years. Shows you the kind of interest rate the gov annuities are if they only double in 30yrs!
You're so dumb bruh
900
Really think about it. Do you really need 1.6 billion? Sure the government takes a large cut but they help fund the public education system and public services etc. that’s what the lottery has been funding before and it will still continue now. I’m not the largest supporter of the US government, but this will help them in many sectors financially.
And that is just based on you being the only winner
Bruh this man really just said "pocket change".
one of the most important things he missed is if you live in a state with a State Income Tax like NY, you need to establish residency in a state that doesn't have it, like Florida, for 183 days until you're an official resident. Then you cash in your ticket. Would save you over $80M in this example. This is a standard move for the rich.
Except you have 180 days to accept at maximum, 60 days for lump sum
@@yoyo7718 got em!
People may think Mr. Wonderful is a total jerk. But he tells it like it is and doesn't sugar coat anything. That's why he is the best person to have on Shark Tank.
I assume you are a Trump supporter
+momomum L you voting for Hillary right
ANGEL bernie moron
momomum you voted for a socialist and you’re calling other people morons. Makes sense.
Cyclonus No Mr. Shark Tank is in self denial and doesn't like to fail. He is afraid failure THE BIG PUSSY OF ALL. if you won he would destroy you with words
The only aspect i hate about Kevin is when he ask's for 100% of my business when i only offered 20%
LOL
Randy or when mark cuban offered that chick 40 mill to buy her company and she said no lmao
King zzubuu 😂😂😂
+King zzubuu its another story
..and for that reason, I'm out.
I hope to win one day to buy my mother house !🙏
me too the reason I play
Me too God bless us all.
No just save your money and buy her a house. It’s not about what you make it’s about what you save!
Winning isn’t your only path to do doing that.
Veena
Damn quit interrupting him, let him talk
I don't like these odds, and for that I'm out
Lachlan hahahaha!!!
This needs to be top comment 😂💀😭😭💀
Barbara
*reason
Lachlan 😂
1:43 Wow he said 1.6 Billion and thats exactly what it is today.
Yeah lol
I should have bought a ticket!
I literally had to check the date of this video he said that
And now it's at 2 billion
Its still time to buy one the nxt drawing is Tuesday
O'Leary - A legend in his own mind.
today is 1/4/2020 and am watching this to be entertained
I think US is insane that lottery jackpots are taxed so much, 50% ?! That's crazy, even in socialist Canada the lottery jackpot winnings aren't taxed at all, 0%, if you win $50M you get $50M tax free.
+bolo1465 A Canadian playing powerball would still be subject to taxation, even more if they are a US citizen. The would be taxed by the IRS and possibly the state where they purchased the ticket.
+Dubsy
Yes Canadian playing US lottery would have to pay taxes like you said, but in my original comment I was talking about Canadian lottery where the jackpot is not taxed.
+bolo1465 you were clear the first time
+bolo1465 Federal Tax is 39.6% the rest depends on State and local income taxes. Non-Citizens pay 40% tax rate
+bolo1465 - yea but our lottery winnings here in Canada are WAYYYYYYYYYYYYYYY less than the winnings in the US.... mind you the US also has much more population that we do, which is why they can get to such a high lotto pot
-“400 Mil is great pocket change”... $40 💵 is great pocket change for me 😭
400 mil is Kevin's net worth. He takes it seriously despite his bragging. Otherwise he wouldn't have secretly gone and bought 3 tix for himself!
1 million is all I need...
Im with u girl haha
Okay, spending $40 is living above my means 😂😂😂😂
Lol, its level to this
Thank you Kevin, appreciate your invaluable advice, have a great day, be safe out there.
I was once playing lottery but loosing until I meet hack_smithclould01 on Instagram that help me with sure game which I play I won 500000$ he is genuis 💯
Too bad the Canadian lotteries aren't that high, no tax here!
Kevin gives some of the most down to earth, brutally honest advice out there. His book is spot on - highly recommended. Cool bit, TMZ - thanks for doing this!
-Clark
+Clark Danger What did he say @ 2:46 - 2:53 ?
+Clark Danger Yet he cant afford a calculator to do the simple math that most can do in their head..
+Scorch428 haha good thing your ability to do math in your head made you a billionaire, oh wait
You put some Respek on that name!..
whats the book called?
$400 million x 4% interest is actually $16 million a year.
$1.3 million a month
$44,000 per day
$1850 per hour
$30 per minute
$.51 per second
I was looking for someone else to catch that mistake.
16 million a year for one I didn't get it really, can u explain what he meant
Now pay the tax.
@@TrustNone35 so u pay 16 million a year for the money u have???
Thank you for catching the incorrect math! $16,000,000 in interest income off the $400M nest egg. After assuming a 50% tax on that interest you will still earn $8,000,000 per year in net interest income and never touch the $400M. I don’t trust Kevin’s math skills so for that reason I’m out.
Finally I watch the video that’s been in my recommended for 2 years
First thing you do, move away from your home. Before you do put up "No Tresspassing" signs so people don't walk on your property and sue you for a phony trip and fall. Get a burner phone and turn off your phone.
When people ask you if you won, tell them you were just a front for the real guy, and got bubkus.
I got one better. Don't buy lotto tickets for hundreds of dollars. Odds are very poor and they won't improve much if you buy 1 ticket or 100 tickets.
So be reasonable if you can't afford to lose hundreds of dollars. Don't buy. Just buy one or two tickets as a casual thing. No full time lottery player makes money.
@@bobdarker519 do you live on planet earth?
If you can’t afford to loose don’t play the game simple
In theory, your odds drastically go up. However, its relative. Say you buy 1 ticket and the odds of winning are 1 in 1,000,000,000. If you buy 2 tickets, your odds of winning go up 100%. But is 1 in 500,000,000 any better than 1 in 1,000,000,000? Yes, but in practice, the odds of winning the lottery are low regardless of how many tickets you buy.
Yeah Whatever! You just want less people to buy less tickets so you can buy 100 tickets and win!
My probability of winning will not go up the less tickets you buy. There are a finite number of permutations, and regardless of the number you choose, my odds remain the same.
This man said 400 million is pocket change..... LMAO
To him it pocket change
400 million now is equivalent to about 400k back in the 50s, 60s. It's not that much.
@@benjaminpeart2287 error, you don't do inflation backwards dummy. 400 million now could buy you the top of the line car 100 times over. Back then 400k could buy you the top of the line car probably 500 times over...
To rich people it is pocket change. Jeff bezos worth over 100 billion so 400 million is only 0.4% of his net worth that's like a average person that's worth $100,000 calling $400 pocket change. It's all relative and please don't be a hater just use rich people as inspiration and motivation to be rich as well.
@@benjaminpeart2287 400k in 1950 is the equivalent of 4.1mil today.
Who is here August 2019
Lol Kevin O' Leary said "$800million that's still a fair amount of change" 😂
Kevin can I have 10,000 I promise I'll never call you again.
Good question lol
Lmao
Never, you should add a zero for never, that's a long contract...
@@mcmc8496 I dunno...now that I think about it, the guy seems like such a sleaze I just might save up money to offer him to never speak in public again! Haha
the dude in the white shirt doesnt understand lol. you still have your 400m instantly....all kevin was saying was that after you put it in a bank, youre getting 1.4m a year in INTEREST. the dude in the white thought for some reason that you were only going to ever have 1.4m a year
+FishAntsPlantsAndDave exactly my thoughts! and here i am trying to survive with 30 bucks a week. fking 1.4 mil a year with only interest!!!
+none none or you could live off of 1.4M/yr guaranteed and never worry about it again
+FishAntsPlantsAndDave He's a jewish multimillionaire attorney/former attorney who owns TMZ and who knows what else. I think he understands money pretty well
+FishAntsPlantsAndDave The guy in the white shirt (aka Harvey) knew exactly what he was saying. He was just disappointed because his annual income from owning TMZ is more than $1.4 million a year, so he wasn't that impressed by the real numbers.
+FishAntsPlantsAndDave Not enough intellect to do a show and focus on the topic at hand. Thats why he isnt the one giving advice, lol
Cheers for the advice. Im going to need it😉👍
Thanks for the video this guy knows a thing or two.
Kevin's bald head is brighther than my future, and for that reason Im out
Alejandro Peregrina LMAO!!!
Lol... too funny
Awwwww, hell naw....😏😏
😂😂😂😂
Afro Atheist , aaa please read, matthew the entire 24th chapter . its GOOD , this stuffstarting now!!! EVIDENCE TO YOU SEEING IN THAT. is.. this vid is supin starting new-ish
GO TO TH-cam..."pastor tells the congregation that the Bible is a Fairytale and they need to wake up"
c'mon man try it , u aint prob. doing nothing else!!!
cant kill ya!! right?...go go ...let me kno
Did this goof have to interrupt the actual financial advice we were getting? Oy!
Instagamrr - It's all Pun and Games! Oy!
Oy!
Right!!
You're gorgeous!!!
Its okay your never going to have that much money anyway
When the Mind is CONVINCED!
The Eyes 👀will See.
I'm a Georgia 🇬🇪lottery winner.
Be blessed everyone 🙏.
OMG, why did they interrupt him!!! Great idea of investing first to make more in the long run. ALSO, good to know about the cut from taxes and other BS. Either way, at least it goes to the "schools" and such.....😂😂
I don't think he did the math right. $400 million times 4% interest is actually $16 million a year, which comes out to about $1.3 million a month.
+Nathan Powell That's what I came to write, I'm actually shocked that there was an entire page of comments and your post is the only one I found that points this out. I'm afraid for our future as a nation.
I'm trying to understand your post but the mispellings and impropper grammar has me a little confused.
+Nathan Powell quick question.. which bank can hold that amount of money?
+Nathan Powell you forgot to account for 3% inflation and income tax. kevins math is right.
+Nathan Powell dont forget about taxes and inflation
The lottery is really just another tax on poor people lol
Somebody has to rob the idiots though.
So damn true! Most lottery is bought in the poor neighborhoods, but, what they take from you, is usually spent in rich neighborhoods. Go figure! I read an article years ago in the nytimes with the breakdown. It made me sad. But, I still play, here and there...... like now.
Someone listens to Dave Ramsey
Yeah, bit gives us a tiny bit of hope
It’s just a straight gamble like anything else someone will win and it’s up to them to not blow it. But people rich and poor alike buy lotto tickets I personally don’t buy them till they get huge like this and only buy 5 quick picks. My advice to the winner get a gun and then get a lawyer and accountant then go claim your winnings.
I love Kevin.. sense of humor and smart. A Shark... :-)
I'd be like "I want 50% of that bowling alley".
Guys interrupted him with stupid questions 😡😡.
Hey! EVERY ticket is a winner until the winning numbers are announced!! 😁😁👍🏼👍🏼
Exactly, hasn't anybody seen Willy Wonka?
@@uncleheffe309
Golden Ticket 🌟
Schroedingers Ticket
I love Kevin.. Since of humor and smart. A Shark... :-)
166k a month now you’re poor lmao
Man, how I long to be that kind of 'poor' 🤑😥
Kevin is totally incorrect on the $166,000 a month.
4% of $400 million is $16 million. 1% is $4 million. Good advice, Kevin, BAAAAD math.
@Albert Einstein Is it 4% of 400M is 16M, minus taxes equals around 8M, /12 = 666,666+ a month? or 1% of 400M = 4M, minus taxes = around 2M, /12=166,666+a month? Maybe that's how Kevin got his numbers. I'm confused, what do you guys think?
1st thing - get a new phone & phone # - your old phone will blow up with calls from scam artists and 5th cousins once removed. Make photocompy/scan of the original, put original in safe deposti box. find a good laywer & finaincial advisor who deals with big money. pay off your debts. make sure taxes get paid. don't spend too much of the principal, or else you may end up broke. If you stink at handling money now, having a lot of money makes it harder ...not easier. have fun!
Cathy Larkin - WebSavvyPR The absolute first thing you must do is sign the back of the lottery ticket. Don’t screw around and let someone else get there hands on it and sign there name instead.
Cathy Larkin - WebSavvyPR don't forget to pay the lawyer goodd
You said it sister
If you sign the back your chance of remaining anonymous goes down significantly. The best thing to do is make a copy and take pictures of it etc. so you have proof that it's yours, then put it in a safe deposit box. Get in touch with a law firm that can handle this sort of thing. They'll set up a trust with you listed as the beneficiary. A lawyer will be designated as a trustee and it's that lawyer that will cash in the ticket. Your trust will get paid and you'll have control of the money.
Most of wht you said or she said is right... except for the end ... not sure if you ever been poor before or had to go without.... if you have then you know ... u would rather have money than not ... definitely makes things easier... unless you are a piece of shit tht dont know shit ... the choice to eat or go to bed hungry or house or homeless are only optional to those tht can choose and some cant even afford a decent meal ....these are facts not feelings..... we all know the difference....well most still act like they dont....i would rather have than not ... personally.. thanks
The most truthful thing to come out that man's mouth this is just for entertainment
Roland Lesperance exactly he said 50% of 1.6 bil was 400 mil hmm makes sense plus if you had that type of money why would you trust your money to a bank put that shit in a offshore account
@@seniorpepe9386 off shore accounts are still in banks. No more bleach for you
@@keenfire8151 He is bleach tf
I would use all my winnings to buy lottery tickets to see if I can win the lottery.
Mr Beast has already done such a video
There was 1 lucky winner in South Carolina.congrats awesome.🍾
Oh... If you're making 166,000 a month you're poor I guess.
+SENTIENT LEGION You could even take a 0 away and Id still be the happiest and most thankful human being to ever walk the earth, rofl
+SENTIENT LEGION 166000 a month after taxes none the less. I would be money bags lol
+SENTIENT LEGION He's joking clearly. Fuck wrong with you people ?
***** relax
he actually was right from the start you make $600000 a month with $400000000
Damn this was two years ago??? Feels like yesterday seriously
hi
Th Powerball 1.5 billion plus jackpot was January 2016 its been more than just two years or 24 months, in this case it has been 33 months since
ikr huh wth 😨😨😨
Did anybody win?
Lol i thought this was recent
Love this guy!
Dude I met Kevin when I won to he's dope yo.
Pretty disgusting how much is taken from taxes..... EVERY time someone wins the lottery so does the government !
Before the change to 24% and 13% at tax time for 37% it used to be 25% and 14.6%, but he is also referring to those states that charge 8% or more, particularly in NY at 8.82% for state and those in NYC pay an additional 3.282% going over the 50% margin. For me I pay the IRS what they ask and 5% for my own state which still is far less than 50% as many of these reports claim, for those in a state with no additional income tac on the lottery only pay the IRS standard rates.
Lottery is basically raising money for the government
I'd be happy to pay those taxes.
It's a racket just like mafia run gambling rings.
Charles Pyatt id rather the government take that money than to have higher taxes. Also if you can’t survive off 400 MILLION dollars you don’t deserve to win anyways
how can you run out of time for an online show ?
It's a tv show
Lmao
I'M IN Media! Lmao
people have lives outside of work?
I'M IN Media! what you see online are clips from the TMZ television show which airs daily in the USA. It's only a half hour show and with commercials, there's never enough time to tell all the stories
“The lottery is a tax on the poor.”
Kevin’s first bit of advice should have been to advise people not to waste their money on lottery tickets.
that's kinda self defeating, if 2 dollars a week is too much for a chance at financial freedom then you need to win the lottery
@naturalbeauty02 funny you say that because the definition of invest is, expend money with the expectation of achieving a profit or material, hmm sounds a little iffy like by chance, like someone investing money into gas to get to work everyday to work hard and still live in debt.
I'd rather take my chances playing the lottery than to open a business and have it ruined by a novel disease, lies, government tyranny and lazy braindead discontents rioting.
your every step is chance and seeing as how lotteries reach over a billion dollars, enough people participate to make your opinion a minority, another slim percentage thinking their opinion is common sense when your comment contradicts itself, a oxymoron moron...
@@lordsesshoumaru8596 more than $2 a week if you play all the games. Mega millions, powerball, palmetto cash 5, pick 3, pick 3, lucky for life etc
If its so fast why did you have to speed up the video to show it loading?
Knowing our luck (people of society)
Jeff Bezos is gonna win.
Hey I love your beats man but let us have some room to free over those shiloh beats. There so 🔥
First of all, this was 2 years ago.
Hahah that's pocket change for him
Bezos doesn’t play the lottery, the lottery plays bezos 😮
Or some 85yr old from Texas that owns multiple farms ,properties etc
“It’s still good pocket change” lmfaoooo what $400 million is not pocket change.
Kristiyan LOL that’s supposed to be a joke 😂
Bill Gates makes that in his sleep
He is bluffing and trying to sound like he has billions, but he doesn't, he is hustling and trying to make himself look bigger than life. I bet anything that he doesn't have even a couple of million in the bank.
@@joetheragman2076 yeah maybe not in the bank but he has all his money tied up with stocks and property. That's more than you and I can say
To him it is.
I remember when the power ball went this high It was crazy. I even bought a couple tickets. Oh I didn’t win.
Good Advice!
nobody in these comments has won the lottery, nor will they but there sure is a ton of lottery experts
i won
i won £4 once so shut up
actually, I won 1 dollar broo
+no name
Especially the fucking idiot above that calls himself “joe ragman”, I can’t believe an asshat would waste so much time trying to give advice like he’s some kind of financial expert HA HA HA HA , he’s nothing more than a TH-cam moron. PERIOD!
I actually have won before. So yeah u just looked stupid.
Plot Twist the winners are just actors
is that why they are spotted on the side of the street sniffing coke
It could be like that
Im pretty sure they are
I think so too
Yep. They are actors and everyone is none the wiser.
why does youtube think its ok to remove audio from videos?!
Wow... funny to think this exact same scenario just occurred a couple of weeks ago
This dude says take the $400m and turn it into $1.4m a year through government bonds. But if you're a savage who doesn't give a fuck about anyone else after you're dead, you could just use $5m a year from that $400m and it'd still last 80 years. There would likely be millions leftover anyway because chances are you aren't gonna live for 80 years longer from the moment you get the $400m.
400 million invested with a return of 4% is 16 million, after taxes 8 million a year that is if you live just on the interest alone. His math is wrong.
Better than shit into, land, slaves. Weapons, bitches and gold...fuk a worthless reserve note.
and that is why the rich stay rich poor stay poor, mentality like that. Never planning ahead for the next generation only caring for yourself.
Even if you lived 200+ years you would never get back your 400 Million.
Incorrect, currently, you make around $100 a day per every million in your bank, plus that interest gains more interest. I know because during that time, I asked my and other banks how much the average person makes a day with 1 million in the bank, and I actually got the same answers. $100 a day x 400 is $40,000 a day, times 365 days in a year is $1,460,000. The only thing he's wrong about is they are NOT taking 50% haha, and the rates currently are 5%, not 4%.
50%! I don't even want it anymore
+Rollin Loud yeah you do.
+Sublime Hobo hahaha
+Rollin Loud yea! screw that!
MARK GARCIA I'm sayin
It's still more than you probably have right now unless you're already rich.
Kevin is the best shark
There was probably an error when he got it to 166 000 $ a month. If the estimated total value of taking the cash payout is 400 million $ (after tax) and the interest at 4% , the annual revenue would be 16 million $. 16 million $ then divided by twelve would give us the monthly income before taxes which is approximately 1,3 million $. After then applying taxes for each month you'd get 666 666 $ each month, which is the number Kevin touched on before he corrected himself . If you then multiply this sum by 0,25 u get 166 666 $, which is the number Kevin was talking about. This would mean that he did in fact double tax it. I might be wrong though and if someone is able to come up with another answer I'd be happy to see it.
I wish I could win I would put a play ground in a area that is need so kids would go to play and have fun.
Why the double tax?
"400 million is pocket change"
Abril Carmona he doesn't even have that much lmao
BaconStuffed Crust Kevin is a multi billionaire
Abril Carmona no he isn't lmfao the only billionaire on the shark tank show is mark Cuban.
Kevin has a net worth somewhere around 300 million -
LMAO THAT WE KNOW OF. THAT THE MONEY ONLY REPORTED. DO YOU THINK KEVIN WOULDN'T HIDE HIS MONEY? HE HINTED ALREADY IN THE VIDEO THAT YOU NEED MUPTILE BANKS. HE GOT MONEY STASHED. ON THE SHOW KEVIN PLAY DIRTY THEY CALL HIM DEVIL MOST DAYS. WHERE MARK IS HONEST ABE WHO WOULD REPORT ALL HIS MONEY TO THE GOVERNMENT. KEVIN ALSO DOES THE SHOW IN CANDA HE IS ALL OVER THE WORLD AKING MONEY. SO DO WE KNOW WHAT HE WORTH OUTSIDE OF US? DO WE KNOW WHERE HIS HIS "BANKS" ARE. RICH PPL ARE SCARED TO BE POOR. KEVIN WILL MAKE SURE HE IS NOT POOR.
Side Hustle why'd u type that whole essay in caps chill
i could live on$166,000 a month.
I could too.
His math is off
WTH hell is wrong with people... I could live on 66K a month... not many people make that.
I honestly can retire on 2,000 a week and thats AFTER not before taxes. On another note kevin is a financial genius
Most people in the US don't make 2K a week.
I'm glad I live in the UK. Our Lotto is not taxable. So if you win the big prize then you get every single penny of that and the government gets nothing. The only time it gets taxed is if you die then whoever the money is left to has to pay inheritance tax and there is a way around that :-)
Thanks