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Author Topic: $10,000,000 Lotto winner now rides bus to work  (Read 1836 times)
Tedim
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« Reply #25 on: May 20, 2013, 04:57:40 PM »

"Now don't go out and blow it all on some fancy stereo"...oooooops ROTF
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Vince G, CSN MFT
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« Reply #26 on: May 20, 2013, 04:58:24 PM »

No? Really? She looks so smart & savvy in this photo.

Out of all these people, the lady with the speakers turned out the best.  She was at least smart enough to set aside money for her 6 children in a trust fund when they turn 26.  

Of course, winning the lottery doesn't mean you'll be rich forever.  There's a long line of millionaires that have hit the poor house.
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A
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« Reply #27 on: May 20, 2013, 05:01:21 PM »

Jesus. I did the math, and I wouldn't need even that much to not have to work for the rest of my life. That's covering my house, cars, and my kid's college too. House/cars/college paid for? At that point I don't even really need money. My monthly expenses would barely be anything, relatively.  I could work part time waiting tables and still travel on that money alone.

Me thinks tommyBoy isn't too good with numbers.

With all zero debt & all assets paid for you'll still pay:

1) Home insurance
2) Property taxes
3) possible HOA monthly
4) home repairs & maintenance
5) Monthly Auto insurance
6) Annual  tag ad valorem
7) auto repair & maintenance

And that's ONLY auto & home (that you already own) expenses
Doesn't include, phone, healthy insurance, water, power, cable, internet, food, gas etc etc etc.
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Devon97
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« Reply #28 on: May 20, 2013, 05:03:04 PM »

buy a $2 ticket twice a week. I don't expect to win, but somebody has to eventually, and you can't win if you don't have a ticket. I agree people can go really overboard with it.

haha sucker.
"While the masses are waiting to pick the right numbers and praying for prosperity, the great ones are solving problems," Siebold writes.

"The hero [middle class people] are waiting for may be God, government, their boss or their spouse. It's the average person's level of thinking that breeds this approach to life and living while the clock keeps ticking away."

Read more: http://www.businessinsider.com/how-rich-people-think-differently-from-the-poor-2012-8?op=1#ixzz2TsfYKJ12
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Emmortal
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« Reply #29 on: May 20, 2013, 05:09:19 PM »

Simply put, the lotto is just a tax on the poor and uneducated.
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NelsonMuntz
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« Reply #30 on: May 20, 2013, 05:56:24 PM »

Even worse in Canada lottery winnings are tax free
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Parker
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« Reply #31 on: May 20, 2013, 06:02:49 PM »

haha sucker.
"While the masses are waiting to pick the right numbers and praying for prosperity, the great ones are solving problems," Siebold writes.

"The hero [middle class people] are waiting for may be God, government, their boss or their spouse. It's the average person's level of thinking that breeds this approach to life and living while the clock keeps ticking away."

Read more: http://www.businessinsider.com/how-rich-people-think-differently-from-the-poor-2012-8?op=1#ixzz2TsfYKJ12

I am actually picking this book up...
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Irongrip400
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« Reply #32 on: May 20, 2013, 06:34:03 PM »

dumb, a great investment that Escalade is. It's funny how it's the people who tend NOT to be good with money who win---and then go broke.
With 10 mil, you could pay off your bills, have a nice house, have investments, have a nice car or two, have money for your kids college fund, and still live very comfortable.

Because its only poor people who play the lottery. 
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doison
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« Reply #33 on: May 20, 2013, 06:36:25 PM »

Out of all these people, the lady with the speakers turned out the best.  She was at least smart enough to set aside money for her 6 children in a trust fund when they turn 26.  

Of course, winning the lottery doesn't mean you'll be rich forever.  There's a long line of millionaires that have hit the poor house.

Well, winning the lotto and not being a funking retard means you'll be rich forever...so I guess there is the "retard" caveat.

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G_Thang
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« Reply #34 on: May 20, 2013, 06:37:09 PM »

I know that the people I usually see who get lottery tickets on the regular are poor folks, who want to make it out of the hole, and the elderly---who have the money to spend on lottery tickets.
Now, a person who is not used to having money, and when they win, will go hog wild, like a starving man at a Buffet. Not so much for the elderly people who have lived their lives and know about investments.

I'm sure that there are some lottery winners who had played every now and then, and have investments, and they do it for fun. They probably have sat down with an accountant, and had a spending budget drawn up.
And you might have those rare people who are miserly to a fault.


You're single.  I can see a person with a family blowing 5 mil or so in a couple of years.  btw, i think that was the pre-tax value of her winnings.  as usual whites are killing her since she is black.

Here's your yahoo, Parker, and this guy was worth $17M before he won:

1. Jack Whittaker won a record $314.9m Powerball jackpot in 2002.
But life since then has been a long list of arrests, lawsuits, broken relationships and even death. In 2007, his then wife, Jewell admitted she wished she had ‘torn up the ticket’.

There are another dozen or so who lost it all but they won between 2-20M pre-tax in the 90s and 2000s.  that money can run over 15-20 years.

There's also a compared CPA, who jacked off about $17M.


 
haha sucker.
"While the masses are waiting to pick the right numbers and praying for prosperity, the great ones are solving problems," Siebold writes.

"The hero [middle class people] are waiting for may be God, government, their boss or their spouse. It's the average person's level of thinking that breeds this approach to life and living while the clock keeps ticking away."

Read more: http://www.businessinsider.com/how-rich-people-think-differently-from-the-poor-2012-8?op=1#ixzz2TsfYKJ12


three lotto winners were confirmed millionaires before they won, so some aspects of the lotto are no different than a REALLY cheap weekend in Vegas.
 
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« Reply #35 on: May 20, 2013, 06:48:44 PM »

I am actually picking this book up...

Good for you. I"m reading the Emyth now and just finished reading The Rishest Man in babylon
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« Reply #36 on: May 20, 2013, 06:51:12 PM »

buy a $2 ticket twice a week. I don't expect to win, but somebody has to eventually, and you can't win if you don't have a ticket. I agree people can go really overboard with it.

Sorry brah, you're definitely an exception to my hillbilly comment.  Smiley
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Cold
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« Reply #37 on: May 20, 2013, 06:52:01 PM »

Everytime I hear some sad news, it's always a negro. Why is that?
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Roger Bacon
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« Reply #38 on: May 20, 2013, 06:52:48 PM »

biggest bunch of bullshit i've ever read..

I just kind of see it like when we use to use cheat codes on a video game or something.  It made the game fun as hell for like 15 minutes but than you're like "well fuck this".  If you just play the video game without cheating you get hours of steady enjoyment.
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Ronnie Rep
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« Reply #39 on: May 20, 2013, 07:33:51 PM »

Winning the lottery is almost like a god damn curse.
I would like to be cursed like that! There are plenty of stories that have happy endings, they just make boring reading!
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leadhead
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« Reply #40 on: May 20, 2013, 07:59:06 PM »

I use to live next to a guy that his brother won 15 mil. The brother was retired and kept a few mil and split the rest between his brother and sister. My neighbor (his brother) retired then also and remodeled his house and bought him and his wife new vehicles. They lived off the interest of the rest of the money along with his pension. So not all of the winners go broke, just the bad money managers.
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jude2
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« Reply #41 on: May 20, 2013, 08:03:55 PM »

I could easily live off of the 1 million dollars of dividens each year if invested correctly and never work another day in my like.
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Skeletor
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« Reply #42 on: May 20, 2013, 09:10:30 PM »

I use to live next to a guy that his brother won 15 mil. The brother was retired and kept a few mil and split the rest between his brother and sister. My neighbor (his brother) retired then also and remodeled his house and bought him and his wife new vehicles. They lived off the interest of the rest of the money along with his pension. So not all of the winners go broke, just the bad money managers.

That is a sensible way to do it. Or 10-25 annual installments which would somewhat regulate available cash and also cost less in taxes compared to the whole amount upfront.
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Lungrenisback
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« Reply #43 on: May 20, 2013, 09:30:35 PM »

Because its only poor people who play the lottery. 
Nah there are sensible people that buy lottery however there less than 1 percent of the actual tickets sold. Stupid people love there lotto.
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TommyBoy
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« Reply #44 on: May 20, 2013, 09:42:54 PM »

Me thinks tommyBoy isn't too good with numbers.

With all zero debt & all assets paid for you'll still pay:

1) Home insurance
2) Property taxes
3) possible HOA monthly
4) home repairs & maintenance
5) Monthly Auto insurance
6) Annual  tag ad valorem
7) auto repair & maintenance

And that's ONLY auto & home (that you already own) expenses
Doesn't include, phone, healthy insurance, water, power, cable, internet, food, gas etc etc etc.

You think I would just have the money sitting there doing nothing? Not collecting on smart investing? Or I only have one home, I don't have others I'd have paid off also collecting rent? Yeah, I'd be set for life. There is absolutely zero ZERO reason I would ever have to work for a living ever again.
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99 Bananas
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« Reply #45 on: May 20, 2013, 10:06:40 PM »

I really don't understand why people would drive such an ugly piece of shit. Can't buy class.
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