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Brooklyn Teen Wins $1,000 For Life From Lottery Scratch-Off Game [Weekly for Life]
Yahoo Finance ^ | June 13, 2012 | Jill Krasny (Business Insider)

Posted on 06/14/2012 11:45:57 AM PDT by QT3.14

Robert Salo, 18, didn't think twice about following his gut when he plunked down $2 to play New York Lottery's "Win for Life" scratch-off game last week.

No one could have guessed he'd beat the 1 in 7,896,000 odds to become the game's youngest winner.

After coming forward Tuesday, the high school senior is $1 million richer and all set to receive $1,000 payments each week for the rest of his life.

(Excerpt) Read more at finance.yahoo.com ...


TOPICS: Miscellaneous; News/Current Events; US: New York
KEYWORDS: lottery; newyork; robertsalo

1 posted on 06/14/2012 11:46:05 AM PDT by QT3.14
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To: QT3.14
Kid with college plans! Couldn't happen to a better person that could use it.

At last the winner wasn't a druggie gangsta.

2 posted on 06/14/2012 11:47:56 AM PDT by QT3.14 (Never Argue With A LIBERAL...They Will Drag You Down To Their Level, Then Beat You With Experience!)
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To: QT3.14
"I'm going to invest in myself."

Good for him.

3 posted on 06/14/2012 11:48:41 AM PDT by bgill
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To: QT3.14

Good Luck


4 posted on 06/14/2012 11:50:01 AM PDT by Doogle (((USAF.68-73..8th TFW Ubon Thailand..never store a threat you should have eliminated)))
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To: QT3.14

Great for him. I wonder what $1000 will buy in 20 years.


5 posted on 06/14/2012 11:51:24 AM PDT by SampleMan (Feral Humans are the refuse of socialism.)
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To: SampleMan
Great for him. I wonder what $1000 will buy in 20 years.

How much is Confederate money worth now?

6 posted on 06/14/2012 11:55:25 AM PDT by Sirius Lee (False prophets offer only a false choice. They are false friends. Choose Goode instead.)
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To: SampleMan
I wonder what $1000 will buy in 20 years.

A trip to Mickey Dees?

7 posted on 06/14/2012 11:56:52 AM PDT by Wingy (Don't blame me. I voted for the chick. I hope to do so again.)
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To: QT3.14

Does this make him a 1%er?


8 posted on 06/14/2012 12:02:01 PM PDT by 2banana (My common ground with terrorists - they want to die for islam and we want to kill them)
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To: SampleMan

“I wonder what $1000 will buy in 20 years.”

Hell with that, I’m worried what it will buy NEXT year.


9 posted on 06/14/2012 12:07:36 PM PDT by MeganC (No way in Hell am I voting for Mitt Romney. Not now, not ever. Deal with it.)
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To: QT3.14
Perhaps some would argue with that decision, pointing to soaring tuition costs and well-paying jobs that don't require a degree.

Straw man.

There is a difference between burying yourself in debt to go to college and paying cash out of your pocket.

Burying yourself in debt for a degree in "Communications" is probably a bad idea.

10 posted on 06/14/2012 12:10:46 PM PDT by E. Pluribus Unum (Government is the religion of the sociopath.)
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To: QT3.14

1000 a week for life. It’s just like being a cop!


11 posted on 06/14/2012 12:11:44 PM PDT by DariusBane (People are like sheep and have two speeds: grazing and stampede)
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To: QT3.14
$1,000 payments each week

Before or after tax?

12 posted on 06/14/2012 12:12:11 PM PDT by Tax-chick (Your shipment of failure to take a nap has arrived. It's whiny.)
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To: Wingy
I wonder what $1000 will buy in 20 years.

A trip to Mickey Dees?

From the value menu.

13 posted on 06/14/2012 12:15:12 PM PDT by mountn man (Happiness is not a destination, its a way of life.)
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To: QT3.14

Unless this kid has a strong moral compass and supportive family, his $1,000 per week for life is going to destroy him. Acquiring wealth in this manner usually does not end well foe those who do.


14 posted on 06/14/2012 12:15:42 PM PDT by MasterGunner01 (11)
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To: QT3.14

This will be fine until the Gov determines it can’t find an investment that will pay 5% APR.....


15 posted on 06/14/2012 12:18:52 PM PDT by G Larry (Criminals thrive on the indulgence of society's understanding)
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To: QT3.14

Brooklyn? New York City? New York State? Federal taxes? Guess he’ll wind up with $47.50 when all is said and done.


16 posted on 06/14/2012 12:42:09 PM PDT by SkyDancer
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To: MasterGunner01

$52,000 per year, before taxes is nice, but it’s not exactly life-altering like winning $100 million.


17 posted on 06/14/2012 12:42:29 PM PDT by SoothingDave
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To: QT3.14

Depending on his color, his biggest challenge might be to live long — the prosper part has been taken care of!


18 posted on 06/14/2012 12:43:06 PM PDT by George from New England (Ecaped CT in 2006, moved to north of Tampa)
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To: MasterGunner01

But, $52K/year will soon be just above the poverty line!

Thanks, Obamugabe!


19 posted on 06/14/2012 12:52:37 PM PDT by Cletus.D.Yokel (Catastrophic Anthropogenic Climate Alterations - The acronym explains the science.)
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To: SoothingDave
$52,000 per year, before taxes is nice, but it’s not exactly life-altering like winning $100 million.

You're right. In 2012, $52,000 a year is not bad for an 18 year old kid. As others here have pointed out, 10 or 15 years from now, it won't be worth that much. Hopefully, he'll realize that this isn't an endless supply of money, and will act accordingly. If he's smart about it, he will be able to build upon this windfall and make a nice life for himself in the years ahead.

20 posted on 06/14/2012 1:21:43 PM PDT by GreenHornet
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To: SoothingDave
There are lots of places in the country where you can have a very good life on 52000 a year.

If one spends wisely

21 posted on 06/14/2012 1:23:31 PM PDT by riverrunner
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To: QT3.14

And when he turns 38...


22 posted on 06/14/2012 1:30:17 PM PDT by Liberty Valance (Keep a simple manner for a happy life :o)
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To: riverrunner

Yes, but it’s not “I won the lottery I can buy anything I want” money. It’s “I’m comfortable enough to choose what I really want to do with my life” money.


23 posted on 06/14/2012 1:40:40 PM PDT by SoothingDave
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To: Liberty Valance

He’ll keep getting checks. The lottery guarantees 20 years of payments, it doesn’t limit you to 20.


24 posted on 06/14/2012 1:45:31 PM PDT by SoothingDave
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To: MasterGunner01
Unless this kid has a strong moral compass and supportive family, his $1,000 per week for life is going to destroy him. Acquiring wealth in this manner usually does not end well foe those who do.

That's only $52K/year. It's not piddling small change, but he'll not be a 1%er with just that. It would be pretty sweet to have that as a guaranteed floor though.

25 posted on 06/14/2012 5:33:07 PM PDT by zeugma (Those of us who work for a living are outnumbered by those who vote for a living.)
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To: QT3.14

Bankrupt inside of five years. Like most Lotto winners.


26 posted on 06/14/2012 5:48:32 PM PDT by Cyber Liberty (Obama considers the Third World morally superior to the United States.)
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To: zeugma

No, $52K a year is not chicken feed (except in NYC), but there are far too many people who strike it rich and five years later the money is gone (squandered) and they are lining up for welfare or bankruptcy. Instant wealth like this both a blessing and a curse. There are plenty of newly rich folks who have discovered this to their despair.


27 posted on 06/14/2012 9:32:52 PM PDT by MasterGunner01 (11)
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To: QT3.14

Now he can learn all about the Taxman...


28 posted on 06/15/2012 4:25:35 AM PDT by Smokin' Joe (How often God must weep at humans' folly. Stand fast. God knows what He is doing)
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To: SoothingDave
Knowing you have the back-up of 52K a year can give someone otherwise reluctant to take the sort of risks to start a business a bit more confidence. Starting with whatever is left of a Million as backup/initial capital isn't bad, either. It's one heck of a leg up to better things if he plays it right.

If he goes nuts and starts spending it on all sorts of junk or partying, he's likely going to suffer more than benefit, and may not live to collect for long.

I pray, for his sake, he does well with it and avoids the common (and not so common) pitfalls of windfalls.

29 posted on 06/15/2012 4:34:52 AM PDT by Smokin' Joe (How often God must weep at humans' folly. Stand fast. God knows what He is doing)
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