Posted on 01/06/2016 1:36:24 PM PST by NRx
Oh and by the way my last post was not sarcasm. The odds of the other guys winning if I don’t enter increase substantially.
That’s more than the gross national product of a whole bunch’a countries!
Unlike gambling with the lotteries a very high percentage of the money spent winds up going to the government (state or federal).
As for gambling I think it is more of a middle class activity instead of the poor, when I visit gambling casinos (I never gamble when there) I rarely see anyone having fun, especially at the slots. Most have a sour look and chain smoke cigarettes. The reason I rarely gamble is because I discovered at a young age I do not enjoy losing money. As you know the machines are programmed to make the house money. If anyone uses them long enough the mathematics guarantee they will lose.
I will purchase an estate near the family home my Attachi built prior to WWII in France in the Basque country near Saint-Jean-Pied-de-Port and become the Count De Monte Cristo!
We used to call FL "God's waiting room".
On second thought first purchase will be a Ranch in Montana near Bozeman.
I’m thinking new mudflaps for the rear wheels. Maybe even the nekkid lady ones the truckers like. Not the metal ones, though, those are vulgar.
And if I win I am going to throw Keith Olbermann in there with nothing but a speedo.
:)
Florida contains the highest percentage of people over 65 (17%). There were 186,102 military retirees living in the state in 2008. About two-thirds of the population was born in another state, the second highest in the country.
Source: Wikipedia
One of my nieces had a baby in May of 2015. Not everyone is over 65. :)
No...I am smarter than both of you.
Ditto that!
Does Keith Olbermann...still have a job?
“... I rarely see anyone having fun, especially at the slots...”
I, like you, don’t gamble. Sure I’ve been out with the boys and spent some money (but not much)!
Lotteries often fund schools, parks and the likes.
Is the payout less of a percentage than table games? Yes.
NOBODY is forced to buy a ticket, as such it cannot be a tax.
As for the fun aspect...I have been in literally hundreds of casinos/race tracks and frontons over the years. I used to be fingerprinted in 14 different states each year just to ‘keep current’ and keep my license to ‘touch’ a gaming machine.
I have seen some dour faces - folks not having much fun - but it’s no different a percentage than walking down a city street...
I’ve seen lot’s of people having lots of fun in gambling establishments.
Are there gambling addicts? Yes, just as there are drug and alcohol addicts. Ever drive down the highway? Some folks speed excessively. There will always be excess.
I bought two lottery tickets today, as I stated earlier: I’m not poor. I’m getting more than $4.00 worth of benefit by having two (albeit almost worthless) tickets. My wife smiled when I told her that I purchased a ticket for her.
Worth the $4.00.
Happy new year and FRee regards.
Have to confess....Wife just got home 5 minutes ago and showed me the powerball tickets she just bought, 10 of them, $20 worth. Now I am poor...
Ha!
Best of luck!
. Set up a family trust in case of untimely or early death and it still pays out full ti the trust. >>>> r u sure it will pay the trust?
“Take the annuity which comes to about $16.7 million/year. After about 40% taxes it’s $10 million or $300 million over the life of annuity.”
Bad idea. The tax rate is a huge gamble, first off.
I’m not sure where people are getting their lump sum numbers, but correct numbers including state taxes are at:
https://www.usamega.com/powerball-jackpot.asp
Sadly, my state taxes lotto winnings, but even so the lump sum is $208 million. I would take that and put $10 million in liquid assets. The remaining $198 million I’d invest in diverse investments with the intent of netting at least 5% after inflation - this should be very doable. Let’s say 7% a year or so.
I think my family could live on $10 million for five years easily, even with buying some new real estate and toys. So, after five years of annually compounded 7% interest, my $198 million would now be $277 million, or $252 million adjusted for 2% inflation. At that point I’d probably skim off another $15 million or so for fun money, and let the rest ride.
If you do a little math I think you’ll find you’re far better off after 30 years.
With this jackpot I think I’d be very happy splitting it several ways LOL. Now off to by a few tickets...
Yup. Knew a family that did the electrical work for a new casino in AC and the only part of the building they didn’t do was the control room.
In PA the senior citizens get a check once a year. My mom (single, retired) got $800 once. Don’t know about the other years. I know 3 widows living only on SS so you know they appreciate it. Don’t know what else it helps them with.
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