another story on lottery winners

[maddythebeagle]

http://news.yahoo.com/s/usatoday/200...ckcangobadfast

[tryan]

That's why I never play ... don't want to known as "the lucky b@stard". Worked/planned too much to get to where we are.

[Nords]

Maddy, you're telling everyone that all your winnings went to repay your credit-card debt that you amassed buying lottery tickets, right?

[maddythebeagle]

Quote:

Maddy, you're telling everyone that all your winnings went to repay your credit-card debt that you amassed buying lottery tickets, right?

but I get cash back on my credit card

[Nords]

Quote:

Originally Posted by The Beagle Formerly Known as Maddy but I get cash back on my credit card

Ah, that's our little secret. Just us and the other 2000 registered users. And how expensive could it be to buy everyone's silence?

[rmark]

I buy tickets with a group at work. When someone asks what I would buy I always tell them I'll call Vanguard for the index fund forms, and check the box that says send me the dividends.

And then I tell them I would probably get the carbeurator in the truck rebuilt. Its important to maintain the $800 truck.

[Spanky]

Is it plausible to keep your identity secret?

[HBH]

Although not a lottery winner, I aquired sudden wealth in 1999.

I was working for a Dot Com company that IPO'ed in early 1999. As soon as I was able (6 months later) I sold all of my stock producing a lottery like bonanza. My 1999 tax bill was huge!

I had reservations at the time about selling the stock, thinking that it would probabily go much higher (WRONG!), but after I calculated what I would have if I sold it, I decided that "ENOUGH" was better than being greedy.

Many friends and relatives had some idea and I was exposed to similar "Sudden close friends" and (not very) veiled hints by relatives.

Fortulately, I invested the money conservatively and am now retired and live off the income.

HBH

[Wizard]

Under an investment plan, the Nebraska Powerball winners' $15.5 million, after accepting the lump sum and paying taxes, could produce a yearly income of about $500,000 a year.

(from the link).

That seems very low ball.

[haha]

Quote:

Originally Posted by Wizard Under an investment plan, the Nebraska Powerball winners' $15.5 million, after accepting the lump sum and paying taxes, could produce a yearly income of about $500,000 a year. (from the link). That seems very low ball.*

How so?

Ha

[Wizard]

Quote:

Originally Posted by HaHa How so? Ha

Closed end income funds.

[bosco]

I love lotteries!!

I consider them a form of voluntary taxation, in which I elect not to contribute. I figure, the more other people contribute to lotteries, the less tax I have to pay. Have never bought a lottery ticket, never will.

As a bleeding heart, however, I do have concerns when I see people throw a couple of lottery tickets in with the doritos, beer, and Huggies.....

[Outtahere]

I have to relay this story about lottery tickets. This morning we celebrated birthdays for my grandfather 92 and stepmom 71. What do you get a 92 yr old...scratch tickets... and her? Some little trinket and again, scratch tickets. We had the best time foran hour morning watching the two of them scratch tickets. Between them they won about $30.

Birthday Cake $10

Scratch Tickets $100

Watching stepmom and grampi have fun for an hour -- Priceless

[dusk_to_dawn]

<<As a bleeding heart, however, I do have concerns when I see people throw a couple of lottery tickets in with the doritos, beer, and Huggies.....>>


Yeah, hate to see them buying lottery tickets when they could have purchased more beer and doritos.