Who wants to be a billionaire (almost)

[Koolau]

My good friend - the one who is $500K in debt at 77 - buys $10 to $20 of lottery tickets every week. It's part of his retirement portfolio.

 

[ncbill]

I'd buy a newer, fancier hedonic treadmill.

I'd pay someone to run on that treadmill for me...

 

[ivinsfan]

Just when I was trying to decide if it was worth an in person stop at KwikTrip...both had winners this week!!!!

 

[Music Lover]

My good friend - the one who is $500K in debt at 77 - buys $10 to $20 of lottery tickets every week. It's part of his retirement portfolio.

They can't afford to retire so I guess there's no harm with a little bit of dreaming.

 

[Koolau]

They can't afford to retire so I guess there's no harm with a little bit of dreaming.

Actually, my friend has been retired for 27 years! How he gets credit, I DO not know.

I really DO understand the "dreaming" part. BUT, you can dream just as big on a $2 ticket as you can with 10 $2 tickets. I think the $2 dream makes some sense while the $20 dream would be better spent on lowering CC debt. A $grand a year ain't a lot, but it's something. Still, I have to say, my friend seems quite happy, so who is to say his way is the wrong way? YMMV

 

[harley]

My good friend - the one who is $500K in debt at 77 - buys $10 to $20 of lottery tickets every week. It's part of his retirement portfolio.

I wonder what his ROI is. Over the past couple of weeks I spent around $20, and won $2. If he's in the same range I'd say he has about 1 in 302 million chances of retiring.

Oops - missed the age and already retired part.

 

[NW-Bound]

No Problem.

Half a billion, buy gated mansion for 50 million, armed guards, limo, chefs and maids.

Heh, heh, keep in mind that all those paid employees (especially the armed guards) may be just as jealous of you as the "man on the street." Just sayin', so YMMV

Dang!

But, but, but there are billionaires with 100x more than this lottery grand prize. How do they manage to stay alive all these years? You would think they are afraid to go to sleep, lest their throat gets cut, or to eat anything lest they get poisoned by their own cook.

Heck, all that money ain't worth it. Hence, I have not bought a lottery ticket in a long time.

 

[Koolau]

Dang!

But, but, but there are billionaires with 100x more than this lottery grand prize. How do they manage to stay alive all these years? You would think they are afraid to go to sleep, lest their throat gets cut, or to eat anything lest they get poisoned by their own cook.

Heck, all that money ain't worth it. Hence, I have not bought a lottery ticket in a long time.

I know you're being a bit facetious, but in reality, "real" billionaires, you know the "real 0.1 percenters" are actually smart - not just lucky. They had time to figure out how to protect themselves. Folks who couldn't come up with $400 for an emergency but had $20 for 10 lotto tickets and then won half a billion will struggle with their winnings. Folks will easily take advantage of them. It's sad really. I don't think governmental agencies that hold these lotteries really care about the winners (for certain, they don't care about the losers.) But, as always, YMMV.

 

[NW-Bound]

I know you're being a bit facetious, but in reality, "real" billionaires, you know the "real 0.1 percenters" are actually smart - not just lucky. They had time to figure out how to protect themselves. Folks who couldn't come up with $400 for an emergency but had $20 for 10 lotto tickets and then won half a billion will struggle with their winnings. Folks will easily take advantage of them. It's sad really. I don't think governmental agencies that hold these lotteries really care about the winners (for certain, they don't care about the losers.) But, as always, YMMV.

Yes. It's not easy to be rich. There's a lot to learn, more than how to spend it.

 

[Sunset]

Dang!

But, but, but there are billionaires with 100x more than this lottery grand prize. How do they manage to stay alive all these years? You would think they are afraid to go to sleep, lest their throat gets cut, or to eat anything lest they get poisoned by their own cook.

Heck, all that money ain't worth it. Hence, I have not bought a lottery ticket in a long time.

There are a number of folks here, who have stocks/bank accounts worth a few million.
Far more than any regular bank robber could dream of getting in a heist.
Yet we rarely hear of old folks being robbed of all their savings at gunpoint.

 

[Badger]

First thing you need to do is buy one of these...

 

[GravitySucks]

Dodged that bullet.

 

[ponyboy]

woohoo...both jackpots have now been won. Now we can put this to bed. Except the media...who just cant wait to find out who the big winners were, if they can. Strange world we live in.

 

[Sunset]

woohoo...both jackpots have now been won. Now we can put this to bed. Except the media...who just cant wait to find out who the big winners were, if they can. Strange world we live in.

Yeah but, watch someone new sign up:

I'm 45 yrs old,
I just came into $1,000,000,000.oo and am wondering can I retire early ?

 

[RunningBum]

Yep. Strange world where someone posts multiple times to whine about the attention spent on lotteries instead of putting the thread on ignore.

 

[GravitySucks]

Yeah but, watch someone new sign up:

I'm 45 yrs old,
I just came into $1,000,000,000.oo and am wondering can I retire early ?

[emoji23][emoji23]

No way. You haven't accounted for your health or longevity insurance.

 

[FANOFJESUS]

No way. You haven't accounted for your health or longevity insurance.

LOL that what I was thinking to. Someone would come on and say work a few more years.

 

[FIREarly]

Invest money with CFP and CPA/CFE to help me plan to make the money last generations.

This would include donating parts of it and finding out how to join The Giving Pledge. Warren Buffet would also be a great way to learn the proper way to spend it.

And buy a Tesla!

Also, take required winner's photos with President's mask on. Saw one other person do that and it's a great way to save privacy.

 

[FIREarly]

Didn't this happen on the show Lost to the character Hugo?
How did that work out for him?

 

[Nightingale9]

Two things:
Thing one: I would start changing my razor blades more frequently.
Thing two: I would contact the McArthur Foundation and offer two sponsor an additional “genius grant.”

 

[street]

Yes. It's not easy to be rich. There's a lot to learn, more than how to spend it.

A lot to be said, about that statement. "It's not easy to be rich". I personally dislike working with money or finances. I don't do much with my portfolio because I just don't have the interest to do so. Sometimes I think I need to just have someone manage it and don't care what it costs. I wouldn't have to think about what, how, when and where to do with it. I'm not saying I'm rich but saying even the small amount I have can be a lot of stress and worry as I get older.

If I was a billionaire I wouldn't sleep with all the worriers include with owning that much money.

 

[Retired Expat]

I never buy a lottery ticket. NY lottery slogan used to be “A dollar and a dream”. Found out I could dream how I would allocate the winnings, enjoy the dreaming and still have that dollar. I pick numbers before big drawings and then confirm that I wouldn’t have won, so feel like a winner for saving a buck or two (no idea what I would do if my imaginary pick actually won!)

What is interesting is that over the years my desires and dreams have gotten smaller. I would not sell my house and move, I would not get a new car or limo and driver, would not go shopping on Madison Ave or Rodeo drive. I would travel First class and stay at the best hotels, get a personal trainer, build a home gym, and generally live better but not much different. So really I don’t care that I didn’t buy a ticket.

So seriously, how many of you would upend your lives? Move to a mansion, drive a rolls Royce and change your style of living?

 

[Sunset]

....

If I was a billionaire I wouldn't sleep with all the worriers include with owning that much money.

Why worry, if you lost 99% of it , you would still be richer than you are today

I would worry less, about money because If it made 3% or 1% or 9% per year, nothing would change, I'd still have too much to spend in the rest of my life.
Relatives or charities would have to work on spending it after I was gone...

 

[Sunset]

I never buy a lottery ticket. NY lottery slogan used to be “A dollar and a dream”. Found out I could dream how I would allocate the winnings, enjoy the dreaming and still have that dollar. I pick numbers before big drawings and then confirm that I wouldn’t have won, so feel like a winner for saving a buck or two (no idea what I would do if my imaginary pick actually won!)

....

I used to have a set of numbers, always played them, then stopped.

I avoided looking at the winning numbers as I'd be so upset if I missed winning.

Thankfully I've forgotten what my magic numbers were

 

[CardsFan]

I used to have a set of numbers, always played them, then stopped.

I avoided looking at the winning numbers as I'd be so upset if I missed winning.

Thankfully I've forgotten what my magic numbers were

And you have now entered Lotto Nirvana.

I don't play the Lotto often. But when I do, only quick pick.