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.
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.
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
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!
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.
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.
@@ViralBuzz25 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.
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'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
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
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.
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.
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
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.
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.
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.
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.
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.
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.
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
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
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.
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 - 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
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.
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 ,,
+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.
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.
@@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
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.
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
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.
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 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
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
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
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.
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.
@@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.
+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 disagree. Tell almost no one you won. Most lottery wins are not this much and most lottery winners go broke in a few short years from bad decisions. Get the lump sum, pay your taxes, buy those Government AAA bonds and wait it out. If you are working try to stay put unless your job really sucks. If it does take some leave until you are sure you can live off what you won. When you get your first payments, get out of debt. Don't buy a bunch of stuff WAIT and get out of debt. Pay off all credit card bills and if you own a home pay off the mortgage and keep the house so that no matter what you can have a roof over your head and afford the taxes. Find something positive to do to keep busy like going back to school or volunteer. Don't feel pressured to give money to everyone who asks. Most winners go broke by spending large, digging family and friends out of debt, poor investing ,and business start ups. If I ever win I will be generous to my household first and I won't ever be broke again. Even if I still have to work i will invest in a retirement plan.
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.
I bought one of Kevin's books (men, women, and money) and I have to say that it is the best book out there for financial self help. It didn't make me rich by any change, but the thinks he says there and the exercises he show you how to make, has taken me out of some of my biggest debts
+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!
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.
It is...the guy had no idea what he was talking about. its more like 25% to take the cash payout and depending on the state you might not even have to pay taxes on that.
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.
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
One winner sued the state of Illinois for defaulting on the yearly payments and won. They argued that the state got all of the money upfront in the first place so they shouldn’t have spent it all. It wasn’t like they didn’t have it in the first place.
I once played 100 powerball plays at $2 each. All i won wasa grand total of $3 and that was because i got 1 powerball bonus number correct. Its true that gambling for more than a few plays is a waste of money. You have better odds with Fantasy5. Better odds but smaller jackpot. I won 3 days in a row. 2 free tickets and 1 $16 winner (3/5). Never won that much on Megamillions, Powerball nor Superlotto in the 22 years I've played.
It's strange but right around the time of my big jackpot win I had decided to stay away from toxic family and friends which meant 98% of my circle I had accepted my new life just me and my kiddos. Now god knew what he was allowing to unfold. He was just preparing me For the huge blessing that would come without the stress of feeling obligated to give to them. Now I live even more in peace ✌️ just added financial increase to my circle.
@@mschigyrl5625 Well good morning Lexi..I see you may have some questions about what i have going on in my life as far a me creating multiple streams of revenue not only for just my family & I but for other families too..Business/investmest/entrepreneurship is all about boldness/passion/ambition/confidence & risk.. Its a partnership of trust & rapport..If someone has revenue & maybe no vision/plan of growth & they meet someone with a vision/dream/idea/invention and the get all the facts/info/ i.e business proposal & they have 2 choices partner up or simply just say no.. Uhmmmm havent you seen Shark Tank..Its all business nothing personal & youre right some people are not entrepreneur/risk takers/givers/ inverstors and yeah those type of people will take a hike but oh my oh my oh my there are those that love frowrh/espansion & making more revenue for not just themselves but for their childrens childrens children & generations
First his math is off a bit. out of 1.6 billion, you get to keep after taxes an average of 43% or about $688 million after taxes and that's taking the lump sum. Then, properly invested, you should get a post tax yield of around 5%. That comes to about $34 million a year or about $2.8 million per month. But if you have that kind of money you won't be needing to buy a home via mortgage. You can pay cash and that would be a good idea. Research real estate and invest well in a home for yourself. If you have debts pay them all off immediately. don't concern yourself with credit. You don't have to buy anything on credit ever again and you should never do so again either. Your bank will issue you charge cards, not credit cards just by depositing a million dollars. Hire yourself a good accountant to make sure your taxes get paid and to keep track of your money but you should also keep track of your own money as well. Go on that vacation you always wanted to go on. Buy that dream mansion, those sports cars, jewelry, yachts etc. but limit yourself to no more than 20% of your total new found assets. I would recommend 15% for real estate (homes) and 5% for everything else you buy. Make a list of everything you ever wanted and put a price next to each. You might find that number exceeds the 20%. In which case cut back until you have made some reasonable choices. Perhaps you don't need a 200 foot yacht and can get by on a 50 foot yacht instead. Perhaps you can budget to rent helicopters instead of buying them. Perhaps you don't need to keep a Lamborghini in every state you have a home in, maybe you can drive them back and forth. You get the idea. Also another thing this guy is wrong about is you absolutely must keep your winnings a secret. Otherwise you will become a target of criminals. Scam artists and burglars and robbers will all target anyone whose name and address becomes published and one rule of thumb, the money your friends, neighbors, relatives and people who met you on the bus once twenty years ago while you were on vacation in Florida will collectively demand you loan or give you a quantity of money that will exceed your total winnings each absolutely convinced theirs is the only legitimate claim for a share of your new found fortune so everyone will want and thing they deserve half. Tell nobody. Set up a series of corporations each set up in a different state and choose states that have the best financial secrecy laws. Then have the attorneys for your corporation file the claim for the lottery prize. Do NOT keep your money in just three banks. Have a financial adviser generate a list of the 20 most stable banks and deposit equal amounts in each. Then shop around for appropriate investments. Ultimately you should divide your money between very secure investments, moderately secure investments and high yield investments. You should get an average yield of around 7.5% which after taxes will yield you about 5%.
This guy is self made. Do you really think he got to be as wealthy as he is by increasing his fortune by 4% every year? No he did not. He most likely had many years that he doubled his assets. If you want your money to just stagnate or be slowly eroded by inflation then follow his advice. If you want to grow your fortune then follow my advice. Even if you are 60, go to business school. Study entrepreneurship. Then find things to invest in. A good education is to watch shows like Shark Tank and pay close attention to why each shark chooses not to invest. It is better to know why not to invest than why to invest. These people all get wealthy for a reason. learn from them but don't always follow their advice like Kevin. He is assuming your only objective is to lose as little money as possible while living off it for life. But a smart person will take about ten percent or so and invest it in their own business ideas and keep trying but reserve at least 80% for more conventional investments unless you are already a self made millionaire in which case keep doing what you are doing. Don't be afraid to take risks but never bet the whole wad.
nunya biznez I had a feeling his math was off. Yours is way more reasonable. You could easily generate 160k a month with just 60-80 mill if properly invested
nunya biznez what's your take on hiring wealth management firms (I'm thinking of Chevy Chase Trust, Merrill Lynch and Northern Trust) to handle your lotto winnings?
Soooo, you want us to believe a guy on the internet who we don't know nothing of rather then an actual millionaire?? But hi I'm Barbara and for that reason I'm out .
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 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.
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
Some poor guy wins the lottery loses a huge chunk while amazon and other rich corporations pay 0 in state taxes and their people have to get help from the government...
Lance B Not Really it’s just Probability it’s not a scam if it were a scam it would be impossible to win the lottery is possible to win but it’s in a 1 in 5,000,000 chance in winning
Only lazy ass people could go through life with out some sort of constructive projects. Working could be helping the less fortunate. The great thing is you don’t have to work for the man. You can do what you want
+EricSmyth14 Exactly!! For a guy with billions of dollars, his advice is bullshit. No one on the planet with a ton of cash wants to invest in the US Government... Boeing or one of the huge corporations that build our warplanes, bullets, and guns MAYBE.. but the Government? Hell to the NO!
GRude420 To be fair, he DOES invest in government bonds with his own money... but I will tell you this, in general, financial experts on T.V. will not give good advice because it's free advice.
jumpthenoob What is it worth other than a promise that could never be honored if everyone called in their promises at once. The dollar has no backing, it's a fiat currency.
If that's happening to people you know, you need to tell them to stop being stupid. The lottery is fun and all, but if you're spending more than 2 dollars on it, especially if you're already financially struggling, you're a moron. They could've used that money on groceries, payed some of their credit off, phone bill. Hell, they're better off buying a stupid gas station hot dog, at least that'd feed them. But instead they're blowing it on one of the lamest games on the planet.
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.
1,600,000,000.00 Billion becomes 1.4 million a year. That is still enough to be comfortable but that really is shocking isn't it? Even though you won over a billion dollars, suddenly that 3 million dollar mansion looks expensive again.
What's the point of having so much money if you aren't gonna spend it? If i had 400 million dollars, i would spend at least half of that on real estate, 100 million on my own businesses and live like a king with the remaining money. The worst possible advice is to put all that money on some useless stocks/bonds and risk losing it all if shit goes down. There's no reason to save all that money to grave, spend it wisely so you can live good life and do good shit.
+Jason Black Why you wanna know? I would probably have a couple of companies (on subjects) that i'm very passionate about, and i would hire the same kind of passionate people to do the things i like. I actually have a real start-up right now, better hope i succeed because i've spent so much time and money trying to get it right.
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.....😂😂
Sounds like the tax man is the only winner, considering he gets his money every time somebody wins. Good like to the one man, out of the millions whom try.
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.
Kevin's math is a little off... The winner chose to cash out and received $913.7 million. After all the taxes are paid you will pocket around $506.85 million... I would still hire a lawyer and a financial advisor to help out with stock options ect... There's a lot of great advice on here!!
Just so you know what you get in the end is based off of the total jackpot, the state the ticket was bought in, and the state you live in. So first u pay federal taxes, then the state ticket was bought in then state u live in. Not all states will take the same amount. So since you didnt know this i will let ur comment alone
Lots of states have that rule, which has gotten many people killed over the years just for the government to try to "prove" that people actually win the lottery and that they don't just keep it all. People like I said... people friggin' die over that policy, sadly.
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.
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
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!
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?
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!
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
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.
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*
@@ViralBuzz25 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
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........................😐
"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
😂😂😂😂👏👌
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
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
*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?
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
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. 😒
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
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 don't like these odds, and for that I'm out
Lachlan hahahaha!!!
This needs to be top comment 😂💀😭😭💀
Barbara
*reason
Lachlan 😂
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
Live like you are poor even if you are rich”
The message to family at the end is the best
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.
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
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?
Love how brutally honest he is.
‘$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.
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
"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
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 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 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.
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 ,,
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 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.
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.
-“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
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.
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
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
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
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
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
Hey! EVERY ticket is a winner until the winning numbers are announced!! 😁😁👍🏼👍🏼
Exactly, hasn't anybody seen Willy Wonka?
@@uncleheffe309
Golden Ticket 🌟
Schroedingers Ticket
Guys interrupted him with stupid questions 😡😡.
Wish the TMZ host on the left would shut the hell up and let Kevin O’Leary finish a sentence. Smh
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
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.
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.
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…
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
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
I disagree. Tell almost no one you won. Most lottery wins are not this much and most lottery winners go broke in a few short years from bad decisions. Get the lump sum, pay your taxes, buy those Government AAA bonds and wait it out. If you are working try to stay put unless your job really sucks. If it does take some leave until you are sure you can live off what you won. When you get your first payments, get out of debt. Don't buy a bunch of stuff WAIT and get out of debt. Pay off all credit card bills and if you own a home pay off the mortgage and keep the house so that no matter what you can have a roof over your head and afford the taxes. Find something positive to do to keep busy like going back to school or volunteer. Don't feel pressured to give money to everyone who asks. Most winners go broke by spending large, digging family and friends out of debt, poor investing ,and business start ups. If I ever win I will be generous to my household first and I won't ever be broke again. Even if I still have to work i will invest in a retirement plan.
doesn’t matter win the lottery and have problems the rest of your life
Only 6 states in the US allow you to stay anonymous so this is a pointless comment for anyone in another state.
That's why my shell corporation will collect the winnings instead. That, and corporate tax rate is lower.
Well I have lots of problems now anyway> Mostly because I don't have enough money.
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
“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 bought one of Kevin's books (men, women, and money) and I have to say that it is the best book out there for financial self help.
It didn't make me rich by any change, but the thinks he says there and the exercises he show you how to make, has taken me out of some of my biggest debts
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.
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!
I think the lottery is a tax scam for sure
I didn't realize how much the goverment makes...
So they take 50% of 1.6 Billion? I thought it was lower than 50%...
They are also getting money from the lottery sales. The lottery is a conversion from the mob run numbers rackets.
It is...the guy had no idea what he was talking about. its more like 25% to take the cash payout and depending on the state you might not even have to pay taxes on that.
Well yes of course, that was the point, it's better that the government is the house than the mob.
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
One winner sued the state of Illinois for defaulting on the yearly payments and won. They argued that the state got all of the money upfront in the first place so they shouldn’t have spent it all. It wasn’t like they didn’t have it in the first place.
He’s awesome! Always good to have a friend that’s brutally honest!!😅
I once played 100 powerball plays at $2 each. All i won wasa grand total of $3 and that was because i got 1 powerball bonus number correct. Its true that gambling for more than a few plays is a waste of money. You have better odds with Fantasy5. Better odds but smaller jackpot. I won 3 days in a row. 2 free tickets and 1 $16 winner (3/5). Never won that much on Megamillions, Powerball nor Superlotto in the 22 years I've played.
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
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.
The rest of the advice went unheard cause these bozos couldn’t stop interrupting. Damn.
😂😩
It's strange but right around the time of my big jackpot win I had decided to stay away from toxic family and friends which meant 98% of my circle I had accepted my new life just me and my kiddos. Now god knew what he was allowing to unfold. He was just preparing me For the huge blessing that would come without the stress of feeling obligated to give to them. Now I live even more in peace ✌️ just added financial increase to my circle.
congrats and God bless you and your family !!
I have a business proposal if youre interested in creating more streams of revenue..
Omg, this is confirmation!! Like literally!! Thanks!! Stay blessed and may God continue to bless you and yours!!
@@tequillajosephine what a leech. You're the type of business person people run from.
@@mschigyrl5625 Well good morning Lexi..I see you may have some questions about what i have going on in my life as far a me creating multiple streams of revenue not only for just my family & I but for other families too..Business/investmest/entrepreneurship is all about boldness/passion/ambition/confidence & risk.. Its a partnership of trust & rapport..If someone has revenue & maybe no vision/plan of growth & they meet someone with a vision/dream/idea/invention and the get all the facts/info/ i.e business proposal & they have 2 choices partner up or simply just say no.. Uhmmmm havent you seen Shark Tank..Its all business nothing personal & youre right some people are not entrepreneur/risk takers/givers/ inverstors and yeah those type of people will take a hike but oh my oh my oh my there are those that love frowrh/espansion & making more revenue for not just themselves but for their childrens childrens children & generations
First his math is off a bit. out of 1.6 billion, you get to keep after taxes an average of 43% or about $688 million after taxes and that's taking the lump sum. Then, properly invested, you should get a post tax yield of around 5%. That comes to about $34 million a year or about $2.8 million per month. But if you have that kind of money you won't be needing to buy a home via mortgage. You can pay cash and that would be a good idea. Research real estate and invest well in a home for yourself. If you have debts pay them all off immediately. don't concern yourself with credit. You don't have to buy anything on credit ever again and you should never do so again either. Your bank will issue you charge cards, not credit cards just by depositing a million dollars. Hire yourself a good accountant to make sure your taxes get paid and to keep track of your money but you should also keep track of your own money as well. Go on that vacation you always wanted to go on. Buy that dream mansion, those sports cars, jewelry, yachts etc. but limit yourself to no more than 20% of your total new found assets. I would recommend 15% for real estate (homes) and 5% for everything else you buy. Make a list of everything you ever wanted and put a price next to each. You might find that number exceeds the 20%. In which case cut back until you have made some reasonable choices. Perhaps you don't need a 200 foot yacht and can get by on a 50 foot yacht instead. Perhaps you can budget to rent helicopters instead of buying them. Perhaps you don't need to keep a Lamborghini in every state you have a home in, maybe you can drive them back and forth. You get the idea.
Also another thing this guy is wrong about is you absolutely must keep your winnings a secret. Otherwise you will become a target of criminals. Scam artists and burglars and robbers will all target anyone whose name and address becomes published and one rule of thumb, the money your friends, neighbors, relatives and people who met you on the bus once twenty years ago while you were on vacation in Florida will collectively demand you loan or give you a quantity of money that will exceed your total winnings each absolutely convinced theirs is the only legitimate claim for a share of your new found fortune so everyone will want and thing they deserve half. Tell nobody. Set up a series of corporations each set up in a different state and choose states that have the best financial secrecy laws. Then have the attorneys for your corporation file the claim for the lottery prize.
Do NOT keep your money in just three banks. Have a financial adviser generate a list of the 20 most stable banks and deposit equal amounts in each. Then shop around for appropriate investments. Ultimately you should divide your money between very secure investments, moderately secure investments and high yield investments. You should get an average yield of around 7.5% which after taxes will yield you about 5%.
This guy is self made. Do you really think he got to be as wealthy as he is by increasing his fortune by 4% every year? No he did not. He most likely had many years that he doubled his assets. If you want your money to just stagnate or be slowly eroded by inflation then follow his advice. If you want to grow your fortune then follow my advice. Even if you are 60, go to business school. Study entrepreneurship. Then find things to invest in. A good education is to watch shows like Shark Tank and pay close attention to why each shark chooses not to invest. It is better to know why not to invest than why to invest. These people all get wealthy for a reason. learn from them but don't always follow their advice like Kevin. He is assuming your only objective is to lose as little money as possible while living off it for life. But a smart person will take about ten percent or so and invest it in their own business ideas and keep trying but reserve at least 80% for more conventional investments unless you are already a self made millionaire in which case keep doing what you are doing. Don't be afraid to take risks but never bet the whole wad.
nunya biznez I had a feeling his math was off. Yours is way more reasonable. You could easily generate 160k a month with just 60-80 mill if properly invested
nunya biznez what's your take on hiring wealth management firms (I'm thinking of Chevy Chase Trust, Merrill Lynch and Northern Trust) to handle your lotto winnings?
nunya biznez he said worst case scenario that's why he did 50%
Soooo, you want us to believe a guy on the internet who we don't know nothing of rather then an actual millionaire?? But hi I'm Barbara and for that reason I'm out .
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
Damn quit interrupting him, let him talk
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
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
Am I the only one that caught that this video was published in Jan 2016?
WoW
Cuz the powerball was 1.6 billion at the time
No you are not! ...Most of these folks just can't or refuse to read, it's clearly dated!
...
I caught that too 🤪
Probably
"it's still good pocket change" 400 million 😭 he's my favourite shark 🤣🤣
Some poor guy wins the lottery loses a huge chunk while amazon and other rich corporations pay 0 in state taxes and their people have to get help from the government...
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.
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.
O'Leary - A legend in his own mind.
im definitely not going to win the powerball, and for that reason im out
lotteries are a scam
Lance B Not Really it’s just Probability it’s not a scam if it were a scam it would be impossible to win the lottery is possible to win but it’s in a 1 in 5,000,000 chance in winning
more like one in almost three hundred million
I will give you the money, but NEVER call me again.
Yes.give all relatives 50k that s all.
Here's $1,000 bucks! Now piss off!
Fuck everyone except my mom and sister. Kiss my rich ass.
Y’all are really messed up and triggered
Vanilla Gurl You can say that because you don't know us or our story. But I am gonna keep living in my truth.
Too bad the Canadian lotteries aren't that high, no tax here!
Got 3 outta 5 numbers tonight.
I got the megaball number only. Thats 2 dollars.
Terry Scott i need to borrow some money. like 50 cents and I’ll never call you again lol.
I only won $10 lol
@@xmaTKDmma I won $500 a few years ago off Powerball. It was off a free ticket
Do u win anything for 3 out of 5?
I'd rather be poor than get poorer spending money in the lottery!
The *BEST* thing to do... *MAKE THE MONEY LAST* so yo don't have to work.
Invest in real estate rental properties. Make your own corporation. Read *Rich Dad Poor Dad* by Robert Kiyosaki. ;)
Only lazy ass people could go through life with out some sort of constructive projects. Working could be helping the less fortunate. The great thing is you don’t have to work for the man. You can do what you want
Rifle Twist how?
Best thing to do is help others...GOD WILL BE PLEASED.
Bruh this man really just said "pocket change".
Dont blow it... keep it simple... count your money
Faisal Al Awadhi this guy knows
Faisal Al Awadhi bill burr + allen palin = awesomeness
So don't get Gold, don't get Silver, Don't buy stocks. Put all the money into the United States Dollar. Nothing bad can happen that way...
+EricSmyth14 Exactly!! For a guy with billions of dollars, his advice is bullshit. No one on the planet with a ton of cash wants to invest in the US Government... Boeing or one of the huge corporations that build our warplanes, bullets, and guns MAYBE.. but the Government? Hell to the NO!
GRude420
To be fair, he DOES invest in government bonds with his own money... but I will tell you this, in general, financial experts on T.V. will not give good advice because it's free advice.
jumpthenoob
It hasn't been worth anything since 1971
+EricSmyth14 Nixon Shock?
jumpthenoob
What is it worth other than a promise that could never be honored if everyone called in their promises at once. The dollar has no backing, it's a fiat currency.
Anyone else got family members or friends nearly going broke from buying the tickets.
If that's happening to people you know, you need to tell them to stop being stupid. The lottery is fun and all, but if you're spending more than 2 dollars on it, especially if you're already financially struggling, you're a moron. They could've used that money on groceries, payed some of their credit off, phone bill. Hell, they're better off buying a stupid gas station hot dog, at least that'd feed them. But instead they're blowing it on one of the lamest games on the planet.
@@bigboi6673 I'm trying to convince my dad to stop, he puts 20 in and it pisses me off.
They are all below broke and in debt buying tickets. lol
I know how you feel, I keep telling my parents to stop but they already spent 280 dollars in one week and won nothing.
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 have 7 kids and I would love to help them with college and schooling.🙏🏾
1,600,000,000.00 Billion becomes 1.4 million a year.
That is still enough to be comfortable but that really is shocking isn't it?
Even though you won over a billion dollars, suddenly that 3 million dollar mansion looks expensive again.
What's the point of having so much money if you aren't gonna spend it? If i had 400 million dollars, i would spend at least half of that on real estate, 100 million on my own businesses and live like a king with the remaining money. The worst possible advice is to put all that money on some useless stocks/bonds and risk losing it all if shit goes down. There's no reason to save all that money to grave, spend it wisely so you can live good life and do good shit.
Chronos What type of businesses would you open if you actually won that amount?
+Jason Black Why you wanna know? I would probably have a couple of companies (on subjects) that i'm very passionate about, and i would hire the same kind of passionate people to do the things i like. I actually have a real start-up right now, better hope i succeed because i've spent so much time and money trying to get it right.
It's not that nobody is winning, it that we play against the computer, which has an hour to generate a sequence of six numbers that has been pick.
Facts!!! I just told someone that this Morning!!! Before even seeing this video!!!
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.....😂😂
Sounds like the tax man is the only winner, considering he gets his money every time somebody wins. Good like to the one man, out of the millions whom try.
Gregory Hamlet I would like to meet this tax man...
"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
Proverbs 13:11 New Living Translation (NLT)
11 Wealth from get-rich-quick schemes quickly disappears;
wealth from hard work grows over time.
@Joan Stepp: Shut the fuck up, Carl.
Kevin's math is a little off... The winner chose to cash out and received $913.7 million. After all the taxes are paid you will pocket around $506.85 million... I would still hire a lawyer and a financial advisor to help out with stock options ect... There's a lot of great advice on here!!
"stock options" lul
Just so you know what you get in the end is based off of the total jackpot, the state the ticket was bought in, and the state you live in. So first u pay federal taxes, then the state ticket was bought in then state u live in. Not all states will take the same amount. So since you didnt know this i will let ur comment alone
Kevin did say “worst case” 50% state taxes.
If you’re earning 4% on $400M, that’s $16M a yr, $1.3M a month.
Remember, these are rough, back-of-the-envelope, condensed calculations. The segment was only going to be a couple of minutes long.
I hate the fact that in California they publish your name. Cant stay anonymos. 😝
James05574 what’s a trust?
If your name is common won't be hard to play it off. Don't know of anyone with my name so I would be screwed
Move states??? Idk. With money like that I'm sure you could hire security. Maybe like a fleet of body guards?😂 I'm renting chuck Norris
Lots of states have that rule, which has gotten many people killed over the years just for the government to try to "prove" that people actually win the lottery and that they don't just keep it all. People like I said... people friggin' die over that policy, sadly.
then you would hire security guards and live in a rich gated community.
This is why I play mega millions instead.
Fred Frederickson u have about a .00001% better chance by doin that
John Johnson more like .000014 actually
So which one is the best to play mega or powerball?
Yo is that Prophet from BO4 on the right
gerboog what are you even talking about
Seeker mine deployed!
lmaoo
Yo they made that dude from Bo4 In real life!
KeoneArt sarcasm?
Lol Kevin O' Leary said "$800million that's still a fair amount of change" 😂