Mcminnville, Oregon United States
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Well if I was lucky enough to win on saturday night I think I would split the jackpot with my mom and give a bonus to the clerk that sold me the ticket today in circle k. We are both taking cash so all we would have to do is stay alive long enough to get the money from the lotto and then clear the bank hold on the big checks for mom and I.-weshar75
United States
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Quote: Originally posted by MaximumMillions on Feb 17, 2017
Where do you get the numbers for the jackpot projection, not that I don't believe them? Or is that your guess?
EDIT: Found it here https://www.txlottery.org/export/sites/lottery/Games/Powerball/Estimated_Jackpot.html
About Lisa Presley: She's going through a divorce so who knows if this is just a shrewd tactic or real. Mike Tyson did burn through hundreds o millions, so it is not impossible. She also had a drug addiction, and seeing how David Lee Edwards spend his fortune I can sort of see how people could squander it.
I would love to have to make do with 100k $ a month. That's some Imelda Marcos "Down to her last billion" complaint...
@Toronto
I've heard good things about both, however Bali being Indonesia and drugs being everywhere but use and possession being punishable by death makes me a little nervous. I'm not a drug user but other places classify stones and conches a as heritage and sometimes people land in jail for keeping one (Turkey).
I wonder if she owns a plane and a yacht? And it's ok to eat at Mcdonald's some times.
Fresno, California United States
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August 2, 2014
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Quote: Originally posted by weshar75 on Feb 18, 2017
Well if I was lucky enough to win on saturday night I think I would split the jackpot with my mom and give a bonus to the clerk that sold me the ticket today in circle k. We are both taking cash so all we would have to do is stay alive long enough to get the money from the lotto and then clear the bank hold on the big checks for mom and I.-weshar75
A word to the wise which you are weshar75. Talk to an accountant, CPA, or enrolled agent before claiming. They may have good advice for you and your Mom.
The U.S. meaning the IRS has gift tax on amounts of $14,000.00 or greater given to non-winners by a winner.
United States
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Quote: Originally posted by bigbear29 on Feb 18, 2017
I wonder if she owns a plane and a yacht? And it's ok to eat at Mcdonald's some times.
I don't think budgeting applies to them the same way it applies to us.
Remember when Jackie Siegel (Queen of Versailles) went on a budget and her way of cost cutting was to have her chauffeur drive her to the McDonald's drivethru in the stretch limo.
On the plus side, she had planned to help her husband get back his fortune by winning the lottery. These people have a very surreal existence which don't translate to our reality.
Washington State United States
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Quote: Originally posted by LiveInGreenBay on Feb 15, 2017
You will find me wishing I was 40 years younger.
You and me both! I'll probably buy a few tickets, but what in the world would I do with that kind of money if I were the sole winner of the jackpot? A number of years back it was different. But now I'm too old to want to do much traveling. Too many dietary restrictions to even want to eat out much. Most of the people I care most about are too old and/or infirm to want to move from their current homes or assisted living facilities. Oh, I could gift them each a couple hundred thousand or so, but I can't see them having a desire for much more.
Other old-timers often have children they'd want to give or leave the money to, but I have a hard time getting excited about leaving millions to step-grandchildren or to nephews I haven't seen in 40 years.
I'd have to claim in a trust or LLC to give me some time to move somewhere. I have no idea where, as I'm happy here. Maybe I'd decide to do much of my own investing instead of doing it through a financial services firm. I've been investing on a small scale for the past two or three decades and it allowed me to retire in my early 50s by living very conservatively. Might be fun to be able to trade thousands of shares at a time instead of just a hundred or so. New game. And if the market took a dive and I lost millions, at my age, what the heck?
Fresno, California United States
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Quote: Originally posted by Uff Da! on Feb 19, 2017
You and me both! I'll probably buy a few tickets, but what in the world would I do with that kind of money if I were the sole winner of the jackpot? A number of years back it was different. But now I'm too old to want to do much traveling. Too many dietary restrictions to even want to eat out much. Most of the people I care most about are too old and/or infirm to want to move from their current homes or assisted living facilities. Oh, I could gift them each a couple hundred thousand or so, but I can't see them having a desire for much more.
Other old-timers often have children they'd want to give or leave the money to, but I have a hard time getting excited about leaving millions to step-grandchildren or to nephews I haven't seen in 40 years.
I'd have to claim in a trust or LLC to give me some time to move somewhere. I have no idea where, as I'm happy here. Maybe I'd decide to do much of my own investing instead of doing it through a financial services firm. I've been investing on a small scale for the past two or three decades and it allowed me to retire in my early 50s by living very conservatively. Might be fun to be able to trade thousands of shares at a time instead of just a hundred or so. New game. And if the market took a dive and I lost millions, at my age, what the heck?
Uff Da! Do you know much about Mutual Funds? Would you trade those?
I am thinking that the way to lose money in the Market is to not sell early enough before it dived. Also when you sell at the bottom you lock in your losses.
I think that Cynthia Stafford locked in her losses when she sold at the bottom.
How did you do during the Recession of 2008? and the Tech bubble of 2000?
I just learned that Hedge Funds use supercomputers when trading. I have no chance trying to beat the Market.
When I win Wednesday I will call Financial Engines and see what they offer.
Germany
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Quote: Originally posted by music* on Feb 19, 2017
Uff Da! Do you know much about Mutual Funds? Would you trade those?
I am thinking that the way to lose money in the Market is to not sell early enough before it dived. Also when you sell at the bottom you lock in your losses.
I think that Cynthia Stafford locked in her losses when she sold at the bottom.
How did you do during the Recession of 2008? and the Tech bubble of 2000?
I just learned that Hedge Funds use supercomputers when trading. I have no chance trying to beat the Market.
When I win Wednesday I will call Financial Engines and see what they offer.
Good Luck to you.
The way most people lose their money is by buying stocks that do poorly and were not high quality. Right after that are the people who sell to early, panicking about losing money instead of waiting it out. The people who hunkered down still have theirs.
Personally, I would not necessarily invest my winnings to do more than cancel out inflation and continuously draw down a bit of my principal without going broke. Stock market is basically an institutonal shell game.
Washington State United States
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February 26, 2006
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Quote: Originally posted by music* on Feb 19, 2017
Uff Da! Do you know much about Mutual Funds? Would you trade those?
I am thinking that the way to lose money in the Market is to not sell early enough before it dived. Also when you sell at the bottom you lock in your losses.
I think that Cynthia Stafford locked in her losses when she sold at the bottom.
How did you do during the Recession of 2008? and the Tech bubble of 2000?
I just learned that Hedge Funds use supercomputers when trading. I have no chance trying to beat the Market.
When I win Wednesday I will call Financial Engines and see what they offer.
Good Luck to you.
Back in my working days when I was working such long hours that I didn't have time to follow the market closely enough to be very effective in timing, I pulled all my money out of individual stocks and put it in fairly aggressive mutual funds. It is only in more recent years that I decided to be active in individual stocks again instead.
I've seen others also sell when the market goes south. That's the total opposite of the "buy low, sell high" technique for making money. I made out fine in the Tech bubble of 2000 and the recession of 2008. My total net worth went down for a few years, of course, but I left most of the stocks and mutual funds just sit. I had confidence the ones I had would be likely to increase fast or faster than just about anything else when the economy picked back up. While the market was down, I pulled money out of money market funds rather than stocks or stock funds to live on. By 2008 I was old enough to draw social security and a small pension from my working years, so I didn't have to rely on my investments for my total living expenses.
The biggest risk for an old timer like me would be to pick the wrong time to die, when the market was down. But if one had millions and wasn't all that concerned about one's heirs, what the heck. I'd probably invest like I planned to live to age 97 as my great-grandmother did. What a game that could be!
Fresno, California United States
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Uff Da!, Living till the age 97! That is definitely positive thinking.
Thank You for your advice and history.
"Buy Low, Sell High"
Did you know that a market that is increasing in value is called a Bull Market because a Bull attacks with it's horns moving in the upward direction? A Bear Market is one where the Bear slashes downward with its claws.
Keep your "Powder Dry" meaning keep some cash in case you see a great deal or buying opportunity.
The Market has always recovered. The DOW is now above 20,000.
Each one of us could do a lot of investing with this Jackpot.
Fresno, California United States
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Quote: Originally posted by MaximumMillions on Feb 19, 2017
The way most people lose their money is by buying stocks that do poorly and were not high quality. Right after that are the people who sell to early, panicking about losing money instead of waiting it out. The people who hunkered down still have theirs.
Personally, I would not necessarily invest my winnings to do more than cancel out inflation and continuously draw down a bit of my principal without going broke. Stock market is basically an institutonal shell game.
MaximumMillions, An institutional shell game? I guess you are correct if a person does not know how to invest and does not get superior advice.
People panic because they believe that the Market will never recover. The DOW is above 20,000 now.
United States
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January 16, 2012
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Quote: Originally posted by music* on Feb 20, 2017
MaximumMillions, An institutional shell game? I guess you are correct if a person does not know how to invest and does not get superior advice.
People panic because they believe that the Market will never recover. The DOW is above 20,000 now.
music*
I agree. For years I put 90% into stocks/fund comprised of S&P 500 stocks and 10% government securities for my Retirement account. For a few years I lost money but one has to remember these are shares and they will go up. I expect the market to have 20% gains this year if not higher. I am now doing 70/30 to balance things out more.
Also, for those of us born after 1960, remember the full age for SS is 67. You can still collect earlier but your benefits may be reduced if you are still working.
United States
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Quote: Originally posted by Teddi on Feb 18, 2017
I don't think budgeting applies to them the same way it applies to us.
Remember when Jackie Siegel (Queen of Versailles) went on a budget and her way of cost cutting was to have her chauffeur drive her to the McDonald's drivethru in the stretch limo.
On the plus side, she had planned to help her husband get back his fortune by winning the lottery. These people have a very surreal existence which don't translate to our reality.