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Old 09-06-2009, 05:42 AM   #41
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I don't think taking a lump sum is necessarily a mistake, as long as you don't do it from one of those annuity companies. I'd want to run the numbers on a spreadsheet and factor in a few things, but due to inflation, it is usually the case that a dollar today is better than 10 dollars ten years from now.
Not to mention dollar in my pocket is better than a promise of $20 next month.
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Old 09-06-2009, 08:02 AM   #42
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I remember a few years back seeing a study that tracked lottery winners - and the vast majority had prudently managed their money. I feel sorry for the 16 year old winner that no one in her family could take her aside and show her what that money could do for her. Or maybe they did and she thought she knew better.

My wife once said if she won she'd keep working, I said you will up until the point someone is just causing you stupid problems at which you'll "why am I still here?".
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Old 09-06-2009, 08:34 PM   #43
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I am sorry to report that the MegaMillion and NYS lottery tickets dh2b bought last week were not winners.
So I'll never have to worry about squandering it all for him. Oh well...
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Old 09-07-2009, 09:38 AM   #44
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The ones who open a bar I'll grant an exception to, everyone has had that dream at one point.
Not quite everyone (last thing I would want is to own some booze joint).
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Old 09-07-2009, 09:46 AM   #45
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Not quite everyone (last thing I would want is to own some booze joint).
Me either!! Yuck. Not my cup of tea.
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Old 09-07-2009, 09:58 AM   #46
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My wife once said if she won she'd keep working, I said you will up until the point someone is just causing you stupid problems at which you'll "why am I still here?".
Actually, we're in this situation. My DW/me were to retire on the same day, a bit over two years ago. I did - she didn't. When it came to a few weeks before she was to leave her j*b, she found she was not emotionally ready to give up the daily grind, as I was.

She is still work*ng, but has an easier time of it, because she knows she can always leave in a moment, if she wishes. It's almost like winning the lottery, but continuing to wo*k.

It certainly releaves most of the pressure of having to be at a j*b.
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Old 09-07-2009, 10:10 AM   #47
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In DH's hometown there was a true story of a woman who gave her niece a handful of lottery tickets for a wedding gift (funny right there, of course--were they registerd at Powerball or Megamillions?). One of the tickets won a few million. Aunt was furious that niece would not split the proceeds with her and never spoke to them again.

We also heard the niece and her new-husband spent all the winnings in a few years.
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Old 09-07-2009, 12:28 PM   #48
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Not quite everyone (last thing I would want is to own some booze joint).
Whhhhhaaaaaaaaat? I suppose next you're going to claim you never wanted to be a fireman, ninja, or pirate?
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Old 09-07-2009, 12:45 PM   #49
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Booze joint...how do you make one of those?...
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Old 09-07-2009, 06:05 PM   #50
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Booze joint...how do you make one of those?...
Yea, wouldn't the paper get wet?
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Old 09-07-2009, 06:20 PM   #51
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hmmm ... I lost over a million in about half the time. Spending it would have been alot more fun (even if it went towards breast implants).
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