Posted on 01/13/2016 9:27:00 AM PST by NRx
“One guy responded, “A bunch of hookers and cocaine!â€Â
Then he’d squander the rest.”
ROFL! Perfect!
If the average payoff is greater than the cost, it’s investment.
If the average payoff is less than the cost, it’s gambling.
Typical lotto players spend $100-500/year on tickets (inversely proportional to income). Average payoff is no better than fifty cents on the dollar.
Buying lotto tickets at $100/yr over 10 years gets you $500 total (probably much less, because you probably won’t hit a “big one”).
Doing absolutely nothing with the cash gets you $1000.
Just dropping & leaving $100/yr in a 2% interest bank account for 10 years gets you >$1200. Much better returns are easy to come by.
Lottos are a tax on innumeracy.
The _only_ redeeming fact: if you don’t buy a ticket, you can’t win. Thing is, if you do, in all likelihood you won’t. Go buy a cheap book or rent a movie - you’ll get a lot more out of it.
If, somehow, you end up winning it all. . . .you’ll probably want to have your lawyer, accountant, and financial planner replaced by the creation of a “Family Office”.
Literally, a small firm that does nothing BUT manage your assets. This is the territory of the “high net worth” individual, will assets of ~half a billion dollars or more... and they end up paying you an “allowance” of not more than 1% of the total assets per year. In this way, you maintain and grow the wealth for generations to come. . .
I’ve paid a lot more than $2 for entertainment. Putting real amounts of money into a lottery, or any gambling for that matter, is foolish but when jackpots get this big you will see doctors, lawyers, and other professionals chip in just for the fun of it.
Well, the smart thing to do would be to buy/build a brewery. That way you get the beer you _want_, and get _paid_ for it.
I have told my family not to ever play the lottery at this point, because my brother-in-law won $2.5 million a few months ago, and I would guess that the odds of me knowing 2 people to win a big lottery is infinitesimal. We are happy for them, but they’ve ruined it for the rest of us. :o
I saw no mention of PERSONAL SECURITY. You will need someone to keep the kidnappers and robbers at bay once your name and location becomes public knowledge.
Better call Saul.
I’m going to donate it to Ted Cruz.
The annuity is a certified asset. If you die it would become part of your estate and pass to your heirs.
I will form the biggest Super PAC in the country and devote all of it’s assets to electing Donald Trump, and I will have more fun than anyone can imagine.
If you want to preserve it and have it grow then you head to New York to have Bessemer Trust manage it for you. Been in business over 100 years and the best in the business.
HAHAHAHA."If you can't stand in front of it with an AR15, you don't own it". For all you "investors" out there, check banking laws, the laws about stock "ownership" and look up "MF Global".
PS. You never really own your property. Tribute must always be paid to a bunch of retards sitting at a table who threaten you with violence perpetrated by simpletons in silly uniforms.
I don’t know what I’d do if I won it. I’ve seen how big that check is that they give to the winners and it wouldn’t fit in my car.......and I’ll be darned if I’m gonna walk down the street with it under my arm.
No, no! The last thing I want to do is turn the windfall into something productive for society. I want to be a useless sybarite! A spoiled, pampered, overfed grating screech on the consciousness of everyone around me! I want to roll in mountains of cocaine and play naked Twister with a bevy of Playboy bunnies in the penthouse suite of that hotel in Dubai (the one that didn't burn down)! I want to be... CHARLIE SHEEN!!!
OK, scared myself there. Probably need to look into charities...
I’m donating it ALL to the hellary campaign
WHY would anyone older than 50 ask for 30 annual payments????
If I win I am going to finance my own run for the Presidency.
[[Go buy a cheap book - you’ll get a lot more out of it.]]
I did- the title is “How to win big playing the Lotto”
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