hobbyfarm
Veteran Member
</font><font color="blue" class="small">( ...Other than that, I guess most of it would just "sit in the bank".... )</font>
Yeah, let them bankers steal it!
Yeah, let them bankers steal it!
If I won The Lottery I Would........
- Thread starter Cityboyfarmer
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Jagmandave
Veteran Member
In addition to providing college funds for my grandkids and so on, I would want to travel - extensively, and well. See all those places I've read about and seen on Discovery or the Travel chanell, and so on. Maybe buy a big RV and drive across the states and Canada, but just go.............see........learn.......live............
slapshot
Silver Member
I would go to work everyday and act like I didn't need to be there.....I'd let'em fire me! /forums/images/graemlins/smile.gif
Just be a general pain in the rear....
Just be a general pain in the rear....
_RaT_
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<font color="blue">We're supposed to make things better in the world for our friends and family. Not easier.
Most people want their kids to be sharp.
But they don't understand you can't make a blade without heat and a hammer. </font>
Good point Harv. I understand this is part of the thinking Bill Gates has regarding his kids. I seem to recall they will be limited in their inheritance as well. Of course, that limit is a little higher for them then most other kids. /forums/images/graemlins/wink.gif
Most people want their kids to be sharp.
But they don't understand you can't make a blade without heat and a hammer. </font>
Good point Harv. I understand this is part of the thinking Bill Gates has regarding his kids. I seem to recall they will be limited in their inheritance as well. Of course, that limit is a little higher for them then most other kids. /forums/images/graemlins/wink.gif
SnowRidge
Elite Member
Hide!!!
riptides
Super Member
I have followed this posting with interest, BUT....
There are a lot of people with interesting ideas, proper planning, seek legal advice, I especially liked - hide.
BUT....
The question that keeps coming into my mind is dependant on where you are in life, your health, your family situation, your geographic location, etc, etc....
That question is -
How much is the lottery paying to make a difference in your life?
A million just is NOT going to cut it for me. Maybe not even 2 or three. Considering how they pay it out nowadays, and the tax man cometh.
So when we speak of the lottery, how much money are we talking about? When I saw this post, sorry, but I thought of the next question - How much?
-Mike Z. /forums/images/graemlins/grin.gif
There are a lot of people with interesting ideas, proper planning, seek legal advice, I especially liked - hide.
BUT....
The question that keeps coming into my mind is dependant on where you are in life, your health, your family situation, your geographic location, etc, etc....
That question is -
How much is the lottery paying to make a difference in your life?
A million just is NOT going to cut it for me. Maybe not even 2 or three. Considering how they pay it out nowadays, and the tax man cometh.
So when we speak of the lottery, how much money are we talking about? When I saw this post, sorry, but I thought of the next question - How much?
-Mike Z. /forums/images/graemlins/grin.gif
Gatorboy
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<font color="blue"> ( So when we speak of the lottery, how much money are we talking about? When I saw this post, sorry, but I thought of the next question - How much? ) </font>
Well, my list above comes from a list I had already started working on when the company I was working for went public and I owned shares valued at $15 million. I had a financial advisor, and estate planning attorney -- I set up trusts for my children.
We went public in 2000, just as the market was heading down -- and because there was a 6 month lockout period, I could not sell. By the time I could sell, the value had dropped to slightly over $1.5 million. That is surely not enough to quit your job with.
So how much does it take? With about $2 million AFTER taxes, you could probably quit your job and live a modest lifestyle without ever touching your initial $2 million -- which is what will now "earn" you your income. But to those that want to buy all these things for themselves and for others; quit their job; and still have enough money to live off of for themselves, they will need a couple more million.
Just my simple opinion.
Well, my list above comes from a list I had already started working on when the company I was working for went public and I owned shares valued at $15 million. I had a financial advisor, and estate planning attorney -- I set up trusts for my children.
We went public in 2000, just as the market was heading down -- and because there was a 6 month lockout period, I could not sell. By the time I could sell, the value had dropped to slightly over $1.5 million. That is surely not enough to quit your job with.
So how much does it take? With about $2 million AFTER taxes, you could probably quit your job and live a modest lifestyle without ever touching your initial $2 million -- which is what will now "earn" you your income. But to those that want to buy all these things for themselves and for others; quit their job; and still have enough money to live off of for themselves, they will need a couple more million.
Just my simple opinion.
SnowRidge
Elite Member
I saw that question posed to Silicon Valley workers a few years ago. The consensus seemed to be $10,000,000.
A million just ain't what it used to be. /forums/images/graemlins/frown.gif
A million just ain't what it used to be. /forums/images/graemlins/frown.gif
BB_TX
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wonder how the heck that happened since I don't buy lottery tickets. Actually when Texas first started I bought for every drawing. Then they decided to make it harder to win by adding more numbers, so I cut back buying. Then they decided to make it even harder by adding a bonus ball. I quit altogether.
A former coworker actually did win 20 mil about 10 yrs ago. His wife immediately left him and took half. He gets about 365,000/yr after taxes and runs out of money before the next yearly payment comes around. Will probably not have a cent when the last of his 20 payments comes and goes. Interesting article (on msn.com I think) some time ago where they did a study on a number of winners from about 2.5 mil to over 25 mil. All the ones noted in the article had received lump sums and all were now broke after only a few years. All had the same problems. Too many friends and relatives suddenly showed up, couldn't say no, and couldn't manage money.
A former coworker actually did win 20 mil about 10 yrs ago. His wife immediately left him and took half. He gets about 365,000/yr after taxes and runs out of money before the next yearly payment comes around. Will probably not have a cent when the last of his 20 payments comes and goes. Interesting article (on msn.com I think) some time ago where they did a study on a number of winners from about 2.5 mil to over 25 mil. All the ones noted in the article had received lump sums and all were now broke after only a few years. All had the same problems. Too many friends and relatives suddenly showed up, couldn't say no, and couldn't manage money.