I used to play the lottery twice a week. I now place that money in my retirement fund.
* Attended the 1990 and 2010 Reds Division clinchers *
Go 76ers, Go Steelers and Go Bucks
* Attended the 1990 and 2010 Reds Division clinchers *
Go 76ers, Go Steelers and Go Bucks
Dave is a little on the extreme side (not completely) but I don't think you can go wrong following his teachings. there are some things he advises against that I think can be to your benefit, if your disciplined, but his system takes out all self discipline as long as you stick to the plan. Like I said, you can't get hurt folllowing his advice.
But with that said, someone was going to buy tickets, so I gave her a $1 for 1 ticket. might as well splurge a cup of coffee "just in case"
UPDATE: ESTIMATED JACKPOT $363 MILLION Draw Date: March 27, 2012Cash Option: $259 Million
Just give me 10 million after taxes and I''l be happy.
I don't know what the tax hit is on that $259 million, but I can't imagine the amount of request lotto winners all of a sudden see. All of a sudden, you're the guy to go to for the "measely" $50k they need to start up this business or buy that house, etc.
At what point do you say no? how many people do you turn away? these are problems, that on the surface, seem like they'd be nice to happen, but if I ever found myself in the situation, I've got to imagine its a huge headache.
One night a long time ago, I was having trouble sleeping so I laid there and figured out what I would do if I ever had the winning ticket. Beat counting sheep. Long story short, the easiest way not to blow huge amounts of money or be endlessly tempted to give in to sob stories is to not keep a lot of liquid cash on hand. I decided that I'd figure out up front how much $$$ I was giving away and to whom (family members, friends, charities, etc.), most of the rest of it would go into long-term safe investments, and I'd keep only a relatively small amount for that first binge/splurge thing. I figured giving away a bunch up front wouldn't stop requests later, but it would give me the moral authority to say no (or "I gave at the office") and mean it. Especially since everyone I truly cared about would have been in on the first cut. If the jackpot was big enough, I'd just set up a foundation and if anyone wanted $$$ for a good cause they could try there, where it wouldn't be solely on me.
Having said that, easier said than done, especially if you know the request is legit and the person is truly in need.
Worst case, I'd be able to afford to move.
Reading comprehension is not just an ability, it's a choice
Spending a couple bucks on the lottery isn't a retirement plan....it's entertainment.
In round numbers, you'll clear about 40% (after taxes) if you take the cash option (which you always should)
40% of $360 million is $144 million.
I'll play $1 (1) if the pot is over $70 million, and (2) I happen to remember to buy a ticket while I'm already out.
What would I do if I won?
I'm not going to lie. It would be the most epic downward spiral of self-indulgent debauchery that the world has ever seen.
Your odds wouldn't be much different if you'd never been born
We'll go down in history as the first society that wouldn't save itself because it wasn't cost effective ~ Kurt Vonnegut
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