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01-04-2018, 03:35 PM
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#41
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: May 2008
Location: No fixed abode
Posts: 8,764
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 Quote:
Originally Posted by Walt34
Like many, once in a blue moon either I or DW will buy one or two, just for the daydreams. No one would be more astonished than us if we actually won anything. I was thinking of buying one on the way home from the gym today but forgot, and I'm not going out in this cold weather for it.
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Good point! It's in the 40s here today, so if I go out and buy a ticket tomorrow maybe I won't be competing against as many people since the east coasters will be home bound.
__________________
"Good judgment comes from experience. Experience comes from bad judgement." - Anonymous (not Will Rogers or Sam Clemens)
DW and I - FIREd at 50 (7/06), living off assets
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01-04-2018, 03:52 PM
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#42
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Full time employment: Posting here.
Join Date: Jul 2013
Posts: 953
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Quote:
Originally Posted by flintnational
The lottery is sooooo yesterday. I am using my powerball money to invest in bitcoin.
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We will see who gets the last laugh!
I have this Nigerian Prince holding on line 2!!!
__________________
Well it's all right, we're heading to the end of the line...
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01-04-2018, 05:36 PM
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#43
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Thinks s/he gets paid by the post
Join Date: Aug 2013
Location: North
Posts: 4,037
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Quote:
Originally Posted by hesperus
I don't get why people don't play until it's several hundred million dollars in a jackpot. Is 40 million not enough to change your life?
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Right. The bigger the jackpot the greater odds you share it. Not gonna lie 500million has a nice ring to it, even if taxes cut into it.
__________________
Time > $$$ ~ 100% equities ~ FIRE @2031
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01-04-2018, 05:52 PM
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#44
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Dec 2004
Location: the City of Subdued Excitement
Posts: 5,588
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Only when I am working do I sometimes put $1 down on a Hit5 when it is 150k plus. The odds of winning anything are literally 1000x better than the big ones and about every 8 tries I win $1 back. Coffee money.
__________________
I have outlived most of the people I don't like and I am working on the rest.
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01-04-2018, 05:54 PM
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#45
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Dec 2004
Location: the City of Subdued Excitement
Posts: 5,588
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I imagine if I won $40 mil, I would have to share with 100,000 other winners. Bad karma.
__________________
I have outlived most of the people I don't like and I am working on the rest.
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01-04-2018, 05:56 PM
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#46
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Thinks s/he gets paid by the post
Join Date: Apr 2006
Location: Columbia, SC
Posts: 1,132
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I know it's a scam, but occasionally I will buy a quick pick when getting gas when the lottery gets high. I don't ever waste more than $6, though.
Funny real life story here in SC a week ago...The SC Lottery had a computer burp and a bunch of people won prizes. While South Carolina was determining what to do about it...whether to pay out or refuse to pay on default...some of the people were saying that they were depending on getting that money. The Lottery did pay out. I can't believe how many people are hooked on the lottery.
SC Education Lottery glitch leads to winning tickets, anger | The State
__________________
"I either want less corruption, or more chance to participate in it." Ashleigh Brilliant
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01-04-2018, 05:56 PM
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#47
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Thinks s/he gets paid by the post
Join Date: Jul 2009
Location: The Beautiful Blue Ridge Mountains
Posts: 2,791
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Meh. The lottery is a tax on people who suck at math.
Everyone pick a set of numbers and send ME the dollar. I promise I'll pay off if you get the winning numbers! 
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01-04-2018, 08:56 PM
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#48
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Aug 2016
Location: Northern Virginia
Posts: 7,582
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Quote:
Originally Posted by bloom2708
I buy a $2 quick pick. I know I won't win. But, I also know that if I don't play I can't win.
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It sounds like the lottery company's ridiculous marketing is effective.
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01-04-2018, 11:19 PM
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#49
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jul 2014
Location: Spending the Kids Inheritance and living in Chicago
Posts: 17,078
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Quote:
Originally Posted by NoiseBoy
I will throw $5 at the lottery once in a while........
For me, hitting a lottery jackpot would mean that Mom and Dad would end their lives in super luxury. The current price tag on that in my area is about $9,000 a month! Flying first class at a moments notice would not bother me one bit and no more wine from a box! I do wish that the payouts were more frequent, but the super-sized jackpots seem to be what draw the most players.
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Come on, if you won, it would be no more wine from other people's vineyards 
If anyone does win, and is worried about it ruining their life, just give me 95% of it and I will save you 
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01-05-2018, 04:11 AM
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#50
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Thinks s/he gets paid by the post
Join Date: Dec 2015
Location: Michigan
Posts: 4,995
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Quote:
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I think winning a huge jackpot would likely bring far more problems than rewards, changing your life in negative ways you can't envision.
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That does seem to happen in a lot of cases.
__________________
"The mountains are calling, and I must go." John Muir
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01-05-2018, 05:42 AM
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#51
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Full time employment: Posting here.
Join Date: May 2013
Posts: 756
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Spend $2 every time it gets over a quarter of a billion dollars. Just because that's a huge number.
__________________
“Believe me, my young friend, there is nothing - absolutely nothing - half so much worth doing as simply messing about in boats.” ― Kenneth Grahame, The Wind in the Willows
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01-05-2018, 08:34 PM
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#52
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: May 2008
Location: No fixed abode
Posts: 8,764
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Darn it! I was going to buy a ticket, but I forgot about it until now. I'm pretty comfortable and am not hauling my butt off the sofa just for a half billion dollars.
__________________
"Good judgment comes from experience. Experience comes from bad judgement." - Anonymous (not Will Rogers or Sam Clemens)
DW and I - FIREd at 50 (7/06), living off assets
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76% Tax Rate on Lottery Players (Or Call me Buzz Killington)
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01-06-2018, 05:45 AM
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#53
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Thinks s/he gets paid by the post
Join Date: Mar 2008
Location: Atlanta Suburb
Posts: 1,499
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76% Tax Rate on Lottery Players (Or Call me Buzz Killington)
The following calculation only works in the aggregate. Individual players are actually near a 100% tax rate since the vast majority lose. The calculation is the impact for the taxing entities.
$1,000,000 Gross Work Income
$750,000 After Tax Income (Assumes 25% SS, FICA, State and Fed Taxes)
$750,000 Lottery Spending
$450,000 Gross Winnings (assumes 60% lottery payout ratio)
$261,000 After Tax Winnings (Assumes 42% State and Fed Taxes)
$739,000 Total Taxes on Gross Work Income
73.90% Effective Tax Rate on Gross Work Income
Edit to correct math error, could not correct title.
__________________
"Oh, twice as much ain't twice as good
And can't sustain like one half could
It's wanting more that's gonna send me to my knees" - John Mayer
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01-06-2018, 06:30 AM
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#54
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Nov 2016
Posts: 9,512
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I have never played and for no reason why I don't. I don't even think about it when I'm at these stores to buy one. It would be a fun thing to give that money away to help people that really need to money.
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01-06-2018, 06:34 AM
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#55
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Thinks s/he gets paid by the post
Join Date: Sep 2006
Posts: 1,396
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Quote:
Originally Posted by REWahoo
I think winning a huge jackpot would likely bring far more problems than rewards, changing your life in negative ways you can't envision.
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I agree, I do not want to win a huge powerball jackpot, it would bring too much unwanted attention and my family and I would become a target for criminals and crackpots. No thanks.
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01-06-2018, 06:54 AM
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#56
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: May 2014
Posts: 7,367
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Quote:
Originally Posted by GalaxyBoy
Meh. The lottery is a tax on people who suck at math.
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Yep. I know an actuary who was a consultant to PowerBall years ago. (He was a tenured professor but his sons weren't interested in what he did till they were allowed to go backstage at a Powerball drawing. I'm an actuary, too. Never bought a lottery ticket. Never will. It's a regressive tax and one I don't have to pay.
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01-06-2018, 07:36 AM
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#57
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: May 2013
Location: Les Bois
Posts: 5,761
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Quote:
Originally Posted by athena53
Yep. I know an actuary who was a consultant to PowerBall years ago. (He was a tenured professor but his sons weren't interested in what he did till they were allowed to go backstage at a Powerball drawing. I'm an actuary, too. Never bought a lottery ticket. Never will. It's a regressive tax and one I don't have to pay.
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I'm a professional mathematician and I play powerball when the jackpot makes it a fair game.
__________________
You can't be a retirement plan actuary without a retirement plan, otherwise you lose all credibility...
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01-06-2018, 07:38 AM
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#58
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Recycles dryer sheets
Join Date: Feb 2014
Posts: 157
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Powerball ?
Overheard while in line at a convenience store prior to this week's powerball drawing. Bread and Circuses.
"Our state, never wins, I'm moving up north where they win !"
" Yeah, our state should have its own powerball so we can win big prizes too"
"They should make a law that if you win big you can't play again, it's not fair if you win twice"
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01-06-2018, 03:18 PM
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#59
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Thinks s/he gets paid by the post
Join Date: Jan 2017
Posts: 2,657
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I don't play, and the best part is I have almost exactly as much of a chance of winning as those who do.
But, if I did win, I'm quite sure I'd accept the money. I'm not too worried about reporters or scammers finding me. I would NOT be at home anyway. I wouldn't see it as a hassle at all. Would be kinda fun figuring out how to do the most good with it.
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01-06-2018, 03:25 PM
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#60
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Aug 2013
Location: Texas
Posts: 10,925
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Bought 25 quick pick tickets for tonight.
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