My wife likes to play the lotto

I would take the lump sum.

I understand the whole live off the interest thing, but 99.99% of lotto winners who take the lump sum end up bankrupt or worse.

I only play when the jackpot is over 50 million. I figure I can afford the tickets for even the smallest chance to hit the big one.

 

It's amazing to me how many stories you hear of people hitting the lotto and going broke. Then again, most people who win the lotto don't understand the concept of assets generating income.

Not to thread jack but this reminds me of my fathers crazy "almost" story

 

For about a week, he had this set of numbers going through his head. (Combination of birthdates, certain digits in SSN's, etc) He had no idea why they kept coming up and for some strange reason, he couldnt forget them.

 

One night he and my step mother go out to get gas for the next day because he had to leave early the next morning and didnt feel like getting it then. The night was rainy and windy, just bad weather. He figures what-the-hell and he tells Cindi (my step mother) "go inside and run these numbers for Mega Millions" She had never done it before so didnt know how and didnt want to go out in the rain. She told my Dad to, he didnt know how either and also didnt feel like getting out in the rain. (My family doesnt really play the lottery hence their ignorance about playing)

 

When falling asleep, the lottery comes on and they were watching in bed. Hit EVERY FUKIN number!!! Mega ball and all

 

BUUUT he didnt buy a ticket..... fcuk

 

He still gets mad everytime that is brought up around him. He'll be kicking himself in the ass for the rest of his life...

 

Almost exactly the same thing. My dad was in to buy the ticket, but his client, a convenience store, was packed and my dad wanted to get home in time for supper, but my mom knew about the numbers in his head and had said to buy a ticket. He didn't buy it, said he'd go back but never made it back.

 

He hit every number as well. He still kicks himself about it.

 

He also only plays on over 40 million usually, this one was about 38.

 

I'd probably take the lump sum, pay off any debts and put the rest in savings and proper investments...and then slowly get a house, a car and whatnot.

Have to love Canada for the Lottery.

 

Tax free winnings!!!

I have never bought a ticket.

I might have to start you never know

Tax free here if you win!

Damn i'm getting the urge to go and buy a ticket

I won my green card in a lotto; that little piece of plastic was by far, the best thing I ever won!

I understand the whole live off the interest thing, but 99.99% of lotto winners who take the lump sum end up bankrupt or worse.

 

The problem people that pick the annuity run into is they spend more than they receive from the annuity payout, and they begin taking out loans against future annuity payments in order to cover bills. Eventually they end up with the same result as the people that take the lump sum and eat through the principal, POOR.

I almost won. The winning mega million ticket was purchased about 15 miles from where I live...

 

A girl I dated in High School from Colorado's Grandfather won a 15mil Lotto. He bought his son a Yamaha FZR 600 and his daughter a Iroc Z the day he got his money. His son died in a cycle crash and his daughter ran over someonen while drunk and was put in prison for vehicular manslaughter in the first year after. There was a big article in the paper at the time with him saying that the lotto winnings were a curse. He died a few weeks later in a boating accident.

 

But I also know someone in West Texas that won a 28mil lotto back in the early nineties and he is still living like a King!!!!!!

I won my green card in a lotto; that little piece of plastic was by far, the best thing I ever won!

 

 

Oh man, good for you. Chances are unreal and the payoff is great, just like the real thing!

 

 

 

 

How is that guy doing that won 250mil and was going to turn it into 1B?

My fiance won $1.8k a few months back. It was nice, nothing to write home about though.

 

I've never won much, but I rarely play. I think the math on receiving the right odds to play either big lotteries here, is the grand prize has to be over $16mil in order to receive the right odds vs cost of the ticket.

 

I generally only blow the $2 to play when it is around $16mil +

I entered into a raffle at a Ferrari-meet/promotional event at a local Jeweler a few weeks ago. I voted for a gentleman who had a 599, who was very nice and really appreciated the car. Ended up getting a call the next week saying I had won a Tag Heuer Kimi Raikkonen F1 watch! I thought only the car owner won, but I guess both of us did!

 

Never won in the lotto though, more than $1 or $2. Had the same "luck" in Vegas. But it's all just entertainment really, never planned on winning anything.

 

 

Most people who win the lottery have not one clue about money, finance, investments, business, etc...they have no idea what they are doing. They do not understand that you do not live off of the principle, you live off of the money you can make from the principle! Otheriwse, you'll eventually run out of money.

 

People are also idiots, I mean if you win say $30 million, okay, well first the banks only insure it up to $150K (I think), so what to do with the rest? Time to find some good wealth managers!

 

Second, let's say you buy a $6 million home. Okay, how much is yearly bills, maintenance, etc...same for cars you buy. No one thinks about these things.

 

Then comes the family and friends, who all come asking for money (WE'RE FAMILY, FORK IT OVER!).

 

If they do not hand over money, they alienate the family and friends, if they DO hand it over, they still tend to alienate the family and friends a lot of times, meanwhile the family and friends squander it completely.

 

If I won say $30 million, I'd continue living as I do (which is fairly poor right now), and use some of the funds to start up one of my bigger business ideas, and then work on building it. Until then, I am having to save and build from scratch

 

BTW, didn't some woman play the lottery twice and won both times?

Also some woman played it in two states and had the winning number for the opposite state (so like play New York and have Pennsylvania's winning number and play Pennsylvania and have New York's winning number).

Is it better to take the payments? Is there a chance you stop getting them 10 years out?

 

 

Playing the lotto is similar to playing slots for me - I can lose my money on roulette and black jack, thank you very much.

 

 

 

The people that take the payouts always "sell" the future payments for pennies on the dollar for a lump sum worth about 1/3 of the payments to sustain the new lifestyle.

When I play the lottery I never even get ONE number. F the lotto! I used to turn in my recycling for $ and buy scratchers with the $ for fun. I actually got a good ROI . Congrats to your wife!

Wasn't there a guy on here who won a G spider at the Dubai Airport lottery? Either here or on Fchat it was 2 years ago iirc. I thought that was a really cool win!

 

There was a story in the newspaper a couple of years ago, that involved 5 kids from my old highschool who all chipped in to buy a ticket and they won the big prize, it was about 2 mil euros. About 400k each, its a nice start in life, not too much so they get carried away with a new lifestyle, and not too little to be meaningless. The cool thing was they all went on to study abroad with the dream of starting a software business after they finish college. I think its the only good story i ever heard about lottery winners, most of them have a really sad fate.

 

 

Didn't know him, but know of a guy who was poor as hell. Won about 10million I think. He bought a used

Caddillac ($8,000) and house ($100,000) and just sits on the rest. Takes his bum buddys out for lunch once

in a awhile and works at the local soup kitchen.

Didn't know him, but know of a guy who was poor as hell. Won about 10million I think. He bought a used

Caddillac ($8,000) and house ($100,000) and just sits on the rest. Takes his bum buddys out for lunch once

in a awhile and works at the local soup kitchen.

 

Crazy. Not much to say to that but wow.

Not to thread jack but this reminds me of my fathers crazy "almost" story

 

For about a week, he had this set of numbers going through his head. (Combination of birthdates, certain digits in SSN's, etc) He had no idea why they kept coming up and for some strange reason, he couldnt forget them.

 

One night he and my step mother go out to get gas for the next day because he had to leave early the next morning and didnt feel like getting it then. The night was rainy and windy, just bad weather. He figures what-the-hell and he tells Cindi (my step mother) "go inside and run these numbers for Mega Millions" She had never done it before so didnt know how and didnt want to go out in the rain. She told my Dad to, he didnt know how either and also didnt feel like getting out in the rain. (My family doesnt really play the lottery hence their ignorance about playing)

 

When falling asleep, the lottery comes on and they were watching in bed. Hit EVERY FUKIN number!!! Mega ball and all

 

BUUUT he didnt buy a ticket..... fcuk

 

He still gets mad everytime that is brought up around him. He'll be kicking himself in the ass for the rest of his life...

 

Hey, Me dad had a similar true story... To cut it short - While asleep, he came across a set of number in his dream... The next day due to tight schedeule, he was not able to purchase any lottery tickets so passed some cash to my uncle (now defunct ex-uncle) and told him to get this exact numbers. My uncle got dressed and about to proceed to purchase the tickets. Just as he was about to step outta the house, it started to downpour. My uncle decided to wait a while for the rain to subside and stayed put in the house... My dad soon felt that the rain was god's way of telling him that he's making a mistake with the given numbers. So my dad gave my uncle another set of numbers and soon my uncle got the tickets..

When the lottery numbers were announced.. The first set of numbers came out! Every one of the first set of numbers!!!.... The rest is history!

 

Dammn!! What a difference a number makes! That is cool you won something, although it would have been great to hear you hit the big prize bud! My Mom has been playing the same 4-digit combination in the NJ pick 4 since my twin sister and I were born (our birth weights). In 26 years, the combination has NEVER come out straight (only box). She will play it until one of two things happens, 1-it hits, at which point she will never play it again (LOL), or 2-she is no longer around to play it! It blows my mind that in 26 years, that combination has NEVER once hit for her.

 

On another story, a second cousin of mine bought a $5.00 scratch-off and hit for 250k 2 years ago in NJ. The funny thing is, NONE of our family knew about it until almost a year later when the family came out with the news. Apparently, they had been scared of relatives coming out of the woodwork everywhere to complain of financial troubles, and had wanted to avoid it as long as possible.

 

Last I heard, they had done some major work on thier house, and had finished paying off a crap-load of debt. From what they told me, after taxes the money did not go NEAR as far as one would think!

 

I am in a pool for the mega-millions at work (with roughly 50 other people now), and will usually play when the jackpot gets near 100-million. Hey, ya never know.

Hey, Me dad had a similar true story... To cut it short - While asleep, he came across a set of number in his dream... The next day due to tight schedeule, he was not able to purchase any lottery tickets so passed some cash to my uncle (now defunct ex-uncle) and told him to get this exact numbers. My uncle got dressed and about to proceed to purchase the tickets. Just as he was about to step outta the house, it started to downpour. My uncle decided to wait a while for the rain to subside and stayed put in the house... My dad soon felt that the rain was god's way of telling him that he's making a mistake with the given numbers. So my dad gave my uncle another set of numbers and soon my uncle got the tickets..

When the lottery numbers were announced.. The first set of numbers came out! Every one of the first set of numbers!!!.... The rest is history!

 

why not play both sets?

Next Friday I will have a story of how I won $23mil on Wednesday

 

The power of positive thinking it about to be proven on Lpower

Keep us updated!!!

 

Throw us some if you win lol