Getbig.com: American Bodybuilding, Fitness and Figure
Getbig Main Boards => Gossip & Opinions => Topic started by: G_Thang on January 15, 2014, 04:43:30 PM
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::) lotto winners
http://www.huffingtonpost.com/2014/01/14/jeremy-lockett-lotto_n_4596790.html?1389729648&ncid=webmail10 (http://www.huffingtonpost.com/2014/01/14/jeremy-lockett-lotto_n_4596790.html?1389729648&ncid=webmail10)
he'll blow the 325k in one year vs budgeting and investing the 50k (3,200 mthly) for years to come.
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::) lotto winners
http://www.huffingtonpost.com/2014/01/14/jeremy-lockett-lotto_n_4596790.html?1389729648&ncid=webmail10 (http://www.huffingtonpost.com/2014/01/14/jeremy-lockett-lotto_n_4596790.html?1389729648&ncid=webmail10)
he'll blow the 325k in one year vs budgeting and investing the 50k (3,200 mthly) for years to come.
50k for life.
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::) lotto winners
http://www.huffingtonpost.com/2014/01/14/jeremy-lockett-lotto_n_4596790.html?1389729648&ncid=webmail10 (http://www.huffingtonpost.com/2014/01/14/jeremy-lockett-lotto_n_4596790.html?1389729648&ncid=webmail10)
he'll blow the 325k in one year vs budgeting and investing the 50k (3,200 mthly) for years to come.
50 a year is before taxes
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50 a year is before taxes
that's about 3,000 on a budget monthly.
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Depends on who is winning the jackpot (how young they are, irresponsible, healthy, smart etc.).
50K/yearly for life makes the most sense for young people that might not necessarily be good with large sums of money.
Look at it this way, if the person doesn't hold a job from here on in and collects 50K/year, after taxes the 50K becomes about 35K (depending on the state, it could be more or less).
35K divided into 12 months tuns out to be $2,916/month (+/- $500 depending on state).
That's not too shabby for someone that didn't have much to begin with.
Now, assuming you are a smart investor, know how to handle wealth and are not too old, take the lump sum.
If you take $650K as a lump, you will be taxed at around 50% (Federal around 39.6% + depending on your state, it could be more or less around 8-10%, here in NY it ends up being 52% Fed+ State) and you end up with about $325,000.
Now, the winner can put that $325,000 into a low-moderate risk portfolio, which typically would return anywhere around 2.5-3.5%. This would end up giving the winner a nice $9,750/year (going by a 3% return to play safe), which if divided by 12 months would provide you with $812/month.
I know it seems like a no-brainer, why take the lump sum that results in $812/month versus the 50K/year, which results in $2,916/month?
Well, because with the lump sum, you have that principal of $325,000 sitting there collecting interests and immediately available to you on a rainy day. With the 50K annuity, you don't have that strong base immediately available and what you see monthly is ultimately all that you will get.
Pick the lump sum, invest wisely and you will be fine.
"1"
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::) lotto winners
http://www.huffingtonpost.com/2014/01/14/jeremy-lockett-lotto_n_4596790.html?1389729648&ncid=webmail10 (http://www.huffingtonpost.com/2014/01/14/jeremy-lockett-lotto_n_4596790.html?1389729648&ncid=webmail10)
he'll blow the 325k in one year vs budgeting and investing the 50k (3,200 mthly) for years to come.
He cleared now what it would have taken him 11 years to clear. You take the money now - today's money is worth more than tomorrow's.
You're one of those people who thinks it's smart to pay off a 500k mortgage if you win 500k.
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Depends on who is winning the jackpot (how young they are, irresponsible, healthy, smart etc.).
50K/yearly for life makes the most sense for young people that might not necessarily be good with large sums of money.
Look at it this way, if the person doesn't hold a job from here on in and collects 50K/year, after taxes the 50K becomes about 35K (depending on the state, it could be more or less).
35K divided into 12 months tuns out to be $2,916/month (+/- $500 depending on state).
That's not too shabby for someone that didn't have much to begin with.
Now, assuming you are a smart investor, know how to handle wealth and are not too old, take the lump sum.
If you take $650K as a lump, you will be taxed at around 50% (Federal around 39.6% + depending on your state, it could be more or less around 8-10%, here in NY it ends up being 52% Fed+ State) and you end up with about $325,000.
Now, the winner can put that $325,000 into a low-moderate risk portfolio, which typically would return anywhere around 2.5-3.5%. This would end up giving the winner a nice $9,750/year (going by a 3% return to play safe), which if divided by 12 months would provide you with $812/month.
I know it seems like a no-brainer, why take the lump sum that results in $812/month versus the 50K/year, which results in $2,916/month?
Well, because with the lump sum, you have that principal of $325,000 sitting there collecting interests and immediately available to you on a rainy day. With the 50K annuity, you don't have that strong base immediately available and what you see monthly is ultimately all that you will get.
Pick the lump sum, invest wisely and you will be fine.
"1"
let's say that you got the lump sum and then later get married, wouldn't that money make it into the community property someone how? You buy a house, a car, lots of vacations and other trappings of the "middle class". At the divorce settlement all that you are left with is membership to planet fitness.
whereas if one opted for the 50K for life payment then you are insulted at the divorce since the arrangement pre dates the marriage. Someone correct me if I am wrong here.
Also, with the 50K I would move to Panama or some Caribbean island, depending on which country that you pick 35-40K US per year is enough to ensure a good life.
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Also, with the 50K I would move to Panama or some Caribbean island, depending on which country that you pick 35-40K US per year is enough to ensure a good life.
this
Budget $2k / month to live in a cheap country like a king (and switch it whenever you feel like doing so) and another $1k / month for travelling back home or somewhere else few times a year whenever you feel like doing so.
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let's say that you got the lump sum and then later get married, wouldn't that money make it into the community property someone how? You buy a house, a car, lots of vacations and other trappings of the "middle class". At the divorce settlement all that you are left with is membership to planet fitness.
Prenup...
"1"
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Depends on who is winning the jackpot (how young they are, irresponsible, healthy, smart etc.).
50K/yearly for life makes the most sense for young people that might not necessarily be good with large sums of money.
Look at it this way, if the person doesn't hold a job from here on in and collects 50K/year, after taxes the 50K becomes about 35K (depending on the state, it could be more or less).
35K divided into 12 months tuns out to be $2,916/month (+/- $500 depending on state).
That's not too shabby for someone that didn't have much to begin with.
Now, assuming you are a smart investor, know how to handle wealth and are not too old, take the lump sum.
If you take $650K as a lump, you will be taxed at around 50% (Federal around 39.6% + depending on your state, it could be more or less around 8-10%, here in NY it ends up being 52% Fed+ State) and you end up with about $325,000.
Now, the winner can put that $325,000 into a low-moderate risk portfolio, which typically would return anywhere around 2.5-3.5%. This would end up giving the winner a nice $9,750/year (going by a 3% return to play safe), which if divided by 12 months would provide you with $812/month.
I know it seems like a no-brainer, why take the lump sum that results in $812/month versus the 50K/year, which results in $2,916/month?
Well, because with the lump sum, you have that principal of $325,000 sitting there collecting interests and immediately available to you on a rainy day. With the 50K annuity, you don't have that strong base immediately available and what you see monthly is ultimately all that you will get.
Pick the lump sum, invest wisely and you will be fine.
"1"
i think it depends on your starting position. someone who needs money and is turning to the lotto to do it probably isn't going to be using it to invest and collect interest. sure, a smart person would take that lump and toss it in a mutual fund or something with a decent interest rate, but i'd wager that anyone that intelligent with their money isn't playing the lotto to begin with.
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Look at it this way, if the person doesn't hold a job from here on in and collects 50K/year, after taxes the 50K becomes about 35K (depending on the state, it could be more or less).
"1"
Really?? This is about the same as Canada. I thought you guys payed a lot less tax than us?
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Really?? This is about the same as Canada. I thought you guys payed a lot less tax than us?
you get pretty fucked in the lower brackets. on paper we have a progressive tax system but by and large the higher up you get the easier it is for things to be written off that doesn't happen further down the chain. most in the middle class area pay 25-30% taxes whereas it's more like 17% for the upper class. sad, really.
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Prenup...
"1"
perhaps, but you are still going to spend the money on your "partner". Basically you will be contributing most of the fund for everything. At the divorce you won't have much left.
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::) lotto winners
http://www.huffingtonpost.com/2014/01/14/jeremy-lockett-lotto_n_4596790.html?1389729648&ncid=webmail10 (http://www.huffingtonpost.com/2014/01/14/jeremy-lockett-lotto_n_4596790.html?1389729648&ncid=webmail10)
he'll blow the 325k in one year vs budgeting and investing the 50k (3,200 mthly) for years to come.
Life what?
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let's say that you got the lump sum and then later get married, wouldn't that money make it into the community property someone how? You buy a house, a car, lots of vacations and other trappings of the "middle class". At the divorce settlement all that you are left with is membership to planet fitness.
whereas if one opted for the 50K for life payment then you are insulted at the divorce since the arrangement pre dates the marriage. Someone correct me if I am wrong here.
Also, with the 50K I would move to Panama or some Caribbean island, depending on which country that you pick 35-40K US per year is enough to ensure a good life.
either way it's a premarital asset.
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If you plan on living longer the 12 years or so, it's better to take the payments.
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Depends on who is winning the jackpot (how young they are, irresponsible, healthy, smart etc.).
50K/yearly for life makes the most sense for young people that might not necessarily be good with large sums of money.
Look at it this way, if the person doesn't hold a job from here on in and collects 50K/year, after taxes the 50K becomes about 35K (depending on the state, it could be more or less).
35K divided into 12 months tuns out to be $2,916/month (+/- $500 depending on state).
That's not too shabby for someone that didn't have much to begin with.
Now, assuming you are a smart investor, know how to handle wealth and are not too old, take the lump sum.
If you take $650K as a lump, you will be taxed at around 50% (Federal around 39.6% + depending on your state, it could be more or less around 8-10%, here in NY it ends up being 52% Fed+ State) and you end up with about $325,000.
Now, the winner can put that $325,000 into a low-moderate risk portfolio, which typically would return anywhere around 2.5-3.5%. This would end up giving the winner a nice $9,750/year (going by a 3% return to play safe), which if divided by 12 months would provide you with $812/month.
I know it seems like a no-brainer, why take the lump sum that results in $812/month versus the 50K/year, which results in $2,916/month?
Well, because with the lump sum, you have that principal of $325,000 sitting there collecting interests and immediately available to you on a rainy day. With the 50K annuity, you don't have that strong base immediately available and what you see monthly is ultimately all that you will get.
Pick the lump sum, invest wisely and you will be fine.
"1"
damn near word for word what I was gonna say, except for the risk-tolerance for investment. I'd spread it in high yield etf's ranging from 5%-13% and try to average 8-9%. of course, I've been out of the market for over two years now and dont' know up to date dividend returns.
I'd take the 50k.
assuming you're living well BEFORE you win the money (living well = paying all your bills and spending less than you bring in each month), now you have $3k EXTRA DOLLARS to invest each month.
so, assuming you take home $2500/month before the win, now you have $5500/month, over $60k/yr.
you can still live pretty well off that.
rent a decent condo while you save for a house ($100k downpayment on a $500k home) and pay $1000/month
2010 S550 $1000/month with insurance and gas (after a 20% downpayment).... or pick up a 2011 Hyundai Genesis for 1/2 that
food $500/month
gas $200/month
soo.... that's rent, car/gas/insurance, and food for 2500-3000/month. leaving 2500-3000 left over that's over 30k/yr savings. bite the bullet for 3-4yrs and you'll own a house.
hell, you could afford to go to school, rent a shitty apt for 6 years, drive a CPO Hyundai Sonata, cook most your own food, and you can have an MBA and hopefully double your non-lottery take-home.
..... of course I'd spend the years first $30k on Kilo's of test, deca, tren, masteron, eq, dbol, drol, winny, methyltrienolone, adex, clomid, nolva, and Viagra, and re-start a website and that first $30k into $800k, well, actually I'd move it in bulk to resellers at 50%, so we'll call it $400k.... and that's going into a bank account of a property management company in Nevada (who owns the house I rent, from myself. lol), as well as the AMG S63 I drive. lol. IRS can eat a dick.
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Depends on who is winning the jackpot (how young they are, irresponsible, healthy, smart etc.).
50K/yearly for life makes the most sense for young people that might not necessarily be good with large sums of money.
Look at it this way, if the person doesn't hold a job from here on in and collects 50K/year, after taxes the 50K becomes about 35K (depending on the state, it could be more or less).
35K divided into 12 months tuns out to be $2,916/month (+/- $500 depending on state).
That's not too shabby for someone that didn't have much to begin with.
Now, assuming you are a smart investor, know how to handle wealth and are not too old, take the lump sum.
If you take $650K as a lump, you will be taxed at around 50% (Federal around 39.6% + depending on your state, it could be more or less around 8-10%, here in NY it ends up being 52% Fed+ State) and you end up with about $325,000.
Now, the winner can put that $325,000 into a low-moderate risk portfolio, which typically would return anywhere around 2.5-3.5%. This would end up giving the winner a nice $9,750/year (going by a 3% return to play safe), which if divided by 12 months would provide you with $812/month.
I know it seems like a no-brainer, why take the lump sum that results in $812/month versus the 50K/year, which results in $2,916/month?
Well, because with the lump sum, you have that principal of $325,000 sitting there collecting interests and immediately available to you on a rainy day. With the 50K annuity, you don't have that strong base immediately available and what you see monthly is ultimately all that you will get.
Pick the lump sum, invest wisely and you will be fine.
"1"
You know damn well a lotto winner isn't going to invest the lump sum with the family of leeches standing about. $2900 per in a south state including florida is damn near rich. 3k sq ft houses go for 150K. if he is debt free, he has the house, car and extras paid for every month with at least $1000 going to savings. WTF, am i writing since he'll blow it in the next 12 months easy. BTW, if you take the cash value, it's 40% or 260,000$.
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What is the probability of a person winning?
Most lotto guys are not. Good with financed in the first place.
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Really?? This is about the same as Canada. I thought you guys payed a lot less tax than us?
Actually, in Canada, all lotto winnings are tax free.
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Take the lump sum. Paper currency isn't going to be worth more tomorrow than it is today.
So what if someone isn't good with money. With $650,000, they'd be able to afford to take a few classes.
Now way Yellen keeps it together for the duration of his installments.
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Depends on the age folks!!
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Depends on who is winning the jackpot (how young they are, irresponsible, healthy, smart etc.).
50K/yearly for life makes the most sense for young people that might not necessarily be good with large sums of money.
Look at it this way, if the person doesn't hold a job from here on in and collects 50K/year, after taxes the 50K becomes about 35K (depending on the state, it could be more or less).
35K divided into 12 months tuns out to be $2,916/month (+/- $500 depending on state).
That's not too shabby for someone that didn't have much to begin with.
Now, assuming you are a smart investor, know how to handle wealth and are not too old, take the lump sum.
If you take $650K as a lump, you will be taxed at around 50% (Federal around 39.6% + depending on your state, it could be more or less around 8-10%, here in NY it ends up being 52% Fed+ State) and you end up with about $325,000.
Now, the winner can put that $325,000 into a low-moderate risk portfolio, which typically would return anywhere around 2.5-3.5%. This would end up giving the winner a nice $9,750/year (going by a 3% return to play safe), which if divided by 12 months would provide you with $812/month.
I know it seems like a no-brainer, why take the lump sum that results in $812/month versus the 50K/year, which results in $2,916/month?
Well, because with the lump sum, you have that principal of $325,000 sitting there collecting interests and immediately available to you on a rainy day. With the 50K annuity, you don't have that strong base immediately available and what you see monthly is ultimately all that you will get.
Pick the lump sum, invest wisely and you will be fine.
"1"
you'll get 10% in real estate. That's $32k for the first year, compounding. stay at work for another 2 years, and you've got $70k in the bank, and $40k the next year..the year after that youve got $44k, then $48k...
by year 6 you are getting that $50k and then some..for life..
by year 10 its closing in on $100k..for doing nothing.
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How about take the 325K, buy a decent house then open a business with the rest? A decent car? Nothing crazy. You can get a perfect start in a new life.
I'd get a decent house with property somewhere serene or more secluded, a reliable car, a decent truck, all things one needs, and would open up at least one business. It'd be good capital to have.
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Not as easy as it aounds. Still doable.
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How about take the 325K, buy a decent house then open a business with the rest? A decent car? Nothing crazy. You can get a perfect start in a new life.
this might work in Romania but most businesses FAIL in america. he'd do better following disco's advice.
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this might work in Romania but most businesses FAIL in america. he'd do better following disco's advice.
:D
you fail at basic ESL english Mr Warren G Buffet
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You do have some real big dealers back in Romania.
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You do have some real big dealers back in Romania.
I am not sure what you are implying. You keep talking about dealing roids and stuff .. we were talking about investing a lottery win.
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How about take the 325K, buy a decent house then open a business with the rest? A decent car? Nothing crazy. You can get a perfect start in a new life.
I'd get a decent house with property somewhere serene or more secluded, a reliable car, a decent truck, all things one needs, and would open up at least one business. It'd be good capital to have.
Exactly. I'd open up a damn McDonald's franchise. Around here there's never been one that didn't turn a nice profit.
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Keep your job, take half of the 3,200 per month and put it in a Fidelity Mutual Fund, say Fidelity Magelland.
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Take the full amount. Who knows what is round the corner....you might die, the fucking lotto company might stop paying you 50k a year.
Too many unknowns for me.
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How about take the 325K, buy a decent house then open a business with the rest? A decent car? Nothing crazy. You can get a perfect start in a new life.
I'd get a decent house with property somewhere serene or more secluded, a reliable car, a decent truck, all things one needs, and would open up at least one business. It'd be good capital to have.
325k won't get you a house in many places in SoCal. lol... it'll get you a down payment, but then you gotta mortgage/insurance/ect.. of 1700 or so (for a 400-500k home).
I might actually take the lump sum. (and still buy $30k worth of kilo's of gear and pull in $500-800k. lol)
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Lump sum for me. Lots of traveling to do. Exotic bitches to fuck. 8)
325k won't get you a house in many places in SoCal. lol... it'll get you a down payment, but then you gotta mortgage/insurance/ect.. of 1700 or so (for a 400-500k home).
I might actually take the lump sum. (and still buy $30k worth of kilo's of gear and pull in $500-800k. lol)
You might get lucky with a 2 bedroom 1 bath in compton. ;D
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325k won't get you a house in many places in SoCal. lol... it'll get you a down payment, but then you gotta mortgage/insurance/ect.. of 1700 or so (for a 400-500k home).
I might actually take the lump sum. (and still buy $30k worth of kilo's of gear and pull in $500-800k. lol)
150K will get you nice prperty and house in other areas .. I was not talking about so cal.. you take the money and move to where the property is
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150K will get you nice prperty and house in other areas .. I was not talking about so cal.. you take the money and move to where the property is
location location location!
you couldn't pay me enough to move away from Southern Ca again.
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At the divorce settlement all that you are left with is membership to planet fitness.
Lol, real talk right there.
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location location location!
you couldn't pay me enough to move away from Southern Ca again.
nobody is asking you to move anywhere... you are completely missing the point
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Id take the lump sum.
Buy as many cheap rental properties as i can afford outright.
Thats just under 200000 in uk money.
Could get 6 properties in bad areas for that (as long as affordable to social tennants they will always rent)
Would bring about £2400/ $3900per month in rent and your initial investment will increase over time you own the properties.
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if you neevr had big money,take the 50k annually and keep your job
if not, most ppl will literaly blow it on stupid things in no time.
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50 K for life. If the 1 time payout was 7 figures my answer would be different.
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::) lotto winners
http://www.huffingtonpost.com/2014/01/14/jeremy-lockett-lotto_n_4596790.html?1389729648&ncid=webmail10 (http://www.huffingtonpost.com/2014/01/14/jeremy-lockett-lotto_n_4596790.html?1389729648&ncid=webmail10)
he'll blow the 325k in one year vs budgeting and investing the 50k (3,200 mthly) for years to come.
I'd take the 650K (350K-400K, after taxes, depending on the state where you live).
Buy a house CASH (that's the biggest expense of all), put some away for college for my little ones (but will take it back, if they get full-rides like dear ol' Dad ;D ). Give my wife $10K to splurge and blow about $5K myself.
Of course, I'd move back to Florida: No state taxes, real estate is cheap, weather is great for the most part. Who needs California?