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Registered
Join Date: Dec 2001
Location: Cambridge, MA
Posts: 44,278
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what lottery is it?
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Tru6 Restoration & Design |
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01-08-2016, 03:23 PM
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least common denominator
Join Date: Aug 2001
Location: San Pedro,CA
Posts: 22,506
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Quote:
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Gary Fisher 29er 2019 Kia Stinger 2.0t gone  1995 Miata Sold 1984 944 Sold I am not lost for I know where I am, however where I am is lost. - Winnie the poo. |
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01-08-2016, 03:34 PM
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least common denominator
Join Date: Aug 2001
Location: San Pedro,CA
Posts: 22,506
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Calypso set to sail again! Cousteau Society
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Gary Fisher 29er 2019 Kia Stinger 2.0t gone 1995 Miata Sold 1984 944 Sold I am not lost for I know where I am, however where I am is lost. - Winnie the poo. |
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01-08-2016, 03:43 PM
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weekend wOrrier
Join Date: May 2011
Posts: 6,214
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True story: I really did. Never having won $4 before, I went into my local 7-11 and asked them if they had the money on hand to pay me up. They said they did, so I will walk in at an undisclosed time and pick it up. Already called the lawyer. BTW? Do you need to report $4 for tax purposes? That could ruin my chance of buying a 7-11 hot dog and big gulp if taxes are involved. Last edited by LEAKYSEALS951; 01-08-2016 at 03:53 PM.. |
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01-08-2016, 03:47 PM
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Senior Member
Join Date: Sep 2000
Location: planet earth
Posts: 2,251
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well I spent $20 on 10 random selected numbers - Could win more money than I know what to do with or I most likely wasted $20 but hey - what the hell
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78 Euro 911sc Targa 03 Hayden SCWDP |
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01-08-2016, 04:49 PM
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Cogito Ergo Sum
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01-08-2016, 04:57 PM
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Dog-faced pony soldier
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I have a close personal friend who won $1m about 15 years ago. It helped him but he's by no means "rich". He got through college with no more loans / debt and bought a house cash (no mortgage / debt). That's a nice start in life. He did throw a helluva party too but still lives a pretty normal life, has to work (although it's more on his terms doing stuff he likes than out if necessity to pay off debt, BIG difference), etc. So yes even a "small" sum like $1m can be "life changing" but only if applied in reasonable ways (i.e. no idiotic binge spending sprees on stupid material crap - use it to eliminate debt entirely and change your attitude / way of living).
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01-08-2016, 05:53 PM
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Registered Abuser
Join Date: Jul 2007
Location: Southwest Montana
Posts: 2,738
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MT 930 1987 930 - Gone but not forgotten A man with priorities so far out of whack doesn't deserve such a fine automobile. I would rather wake up in the middle of nowhere than in any city on earth - Steve McQueen американский |
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01-08-2016, 06:03 PM
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RETIRED
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Hookers and blow, the rest I would just waste.....
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1983/3.6, backdate to long hood 2012 ML350 3.0 Turbo Diesel |
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01-09-2016, 10:40 AM
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Zink Racer
Join Date: Aug 2005
Location: Spokane WA
Posts: 3,984
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A friend I've known since college (30 years) was married young and had kids young. About 1989 his wife has rung up a bunch of credit card debt he didn't know about ($40k or so) that she signed his name on and was having an affair. They had 2 fairly young kids at the time. They get a legal separation. She wins a $5 million lotto and claims the boyfriend bought the ticket. He does get child support reduced and her to pay off the debts that were in his name, they divorce. Fast forward 25 or so years. He's a successful CEO of a large non profit, has had a good life, good relationship with his daughters and now grandkids. He hears the ex is calling relatives including his daughters trying to borrow money. You sure can't buy brains or character.
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Jerry 1964 356, 1983 911 SC/Carrera Franken car, 1974 914 Bumblebee, a couple of other 914's in various states of repair |
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01-09-2016, 12:04 PM
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Did you get the memo?
Join Date: Mar 2003
Location: Wichita, KS
Posts: 32,315
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No winner, next prize is expected to be $1.3B. Maybe I should buy a ticket?
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‘07 Mazda RX8-8 Past: 911T, 911SC, Carrera, 951s, 955, 996s, 987s, 986s, 997s, BMW 5x, C36, C63, XJR, S8, Maserati Coupe, GT500, etc |
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01-10-2016, 04:09 AM
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Registered
Join Date: Oct 2005
Location: Magnolia State
Posts: 7,548
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Well no winners last night so it is expected to rise to $950,000,000.00 this week. Wow.
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Jim 1987 Carrera 2002 BMW 525ti 1997 Buell Cyclone cafe project 1998 Buell S1W: "Angriest motorcycle I've ever ridden." |
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01-10-2016, 04:11 AM
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Targa, Panamera Turbo
Join Date: Aug 2004
Location: Houston TX
Posts: 22,366
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Millions of people are dreaming of having so much money that not only does it become life changing, it becomes character changing. Having that much loot that quick with zero effort has failure written all over it. While I do not know that stats, I would well imagine that the winners of these huge stake Powerball lots get into a world of hurt pretty fast.
It was once postulated that if you took all the money in the world and redistributed it that it would not be long before the money found its way back to the original owners. The once poor would be poor again and the once rich would be rich again. By and large I see how that would happen. I guess the big questions is why would anyone want that kind of money? Stupid question maybe but upon examination it comes back to the same general premise that we all want to increase our level comfort, control and convenience. It really is relative. Many many years ago the richest in the world didn't have enough wealth to buy what we all commonly enjoy today. Maybe so many folks want that sort of wealth is really about increased freedom against the backdrop of our personal social position? Having more of the material items that provide joy by way of value, performance and beauty? That kind of money would spoil many. Yet I'm sure many of us would not be spoiled by it...
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Michael D. Holloway https://simple.m.wikipedia.org/wiki/Michael_D._Holloway https://5thorderindustry.com/ https://www.amazon.com/s?k=michael+d+holloway&crid=3AWD8RUVY3E2F&sprefix= michael+d+holloway%2Caps%2C136&ref=nb_sb_noss_1 Last edited by M.D. Holloway; 01-10-2016 at 06:06 AM.. |
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01-10-2016, 06:01 AM
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Registered
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One of the first things I would do after a big lottery win would be to spring for a convention for PPOT members in a warm location such as LA. Drinks would be on me!
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01-10-2016, 06:10 AM
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The Unsettler
Join Date: Dec 2002
Location: Lantanna TX
Posts: 23,885
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I buy one ticket because you don't increase your odds by buying more and you can only win on one ticket anyway. It's cheap entertainment and hey, you never know.
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"I want my two dollars" "Goodbye and thanks for the fish" "Proud Member and Supporter of the YWL" "Brandon Won" |
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01-10-2016, 06:21 AM
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Registered
Join Date: Oct 2003
Location: Mount Pleasant, South Carolina
Posts: 14,143
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Winning 1.3 Billion overnight is mind boggling. I know that everyone said get financial and legal advice, but how do you find the right help with this staggering amount of money?
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01-10-2016, 06:32 AM
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Did you get the memo?
Join Date: Mar 2003
Location: Wichita, KS
Posts: 32,315
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Lottery winners and professional athletes have a significantly higher bankruptcy rate than the average citizen, so what Mike said is certainly true.
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‘07 Mazda RX8-8 Past: 911T, 911SC, Carrera, 951s, 955, 996s, 987s, 986s, 997s, BMW 5x, C36, C63, XJR, S8, Maserati Coupe, GT500, etc |
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01-10-2016, 08:12 AM
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Cogito Ergo Sum
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Definitely would want to get the majority of the money tied up in investments to where it couldn't be pissed off. One benefit to taking the annuity is you only get a chunk every year.
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01-10-2016, 08:15 AM
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The Unsettler
Join Date: Dec 2002
Location: Lantanna TX
Posts: 23,885
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I think there is an amount that anyone could easily blow. But at some point one can have so much money that blowing it is difficult. You'd have to basically give it away. If you blow it on material possessions they retain some residual value.
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"I want my two dollars" "Goodbye and thanks for the fish" "Proud Member and Supporter of the YWL" "Brandon Won" |
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01-10-2016, 08:17 AM
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The Unsettler
Join Date: Dec 2002
Location: Lantanna TX
Posts: 23,885
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It can actually be worse because they take out loans using the future payments as collateral and they pay interest on the loan. Also, IIRC, payouts are not transferrable. Meaning if you die in a car crash leaving the lottery office then your heirs get nothing.
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"I want my two dollars" "Goodbye and thanks for the fish" "Proud Member and Supporter of the YWL" "Brandon Won" |
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01-10-2016, 08:21 AM
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1986 Porsche 944 2.5l
Da cab
Lexus RX350
