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Author Topic: Mega lotto over 500 million  (Read 4109 times)

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kimba1

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Mega lotto over 500 million
« on: March 29, 2012, 04:40:22 AM »
What would your first purchase be?
Mine would be some comfortable shoe, flatfeet is a bitch at my age.
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BT

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Re: Mega lotto over 500 million
« Reply #1 on: March 29, 2012, 06:30:41 AM »
Mine would be the setting up of a perpetual trust fund to shelter the winnings.

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Christians4LessGvt

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Re: Mega lotto over 500 million
« Reply #2 on: March 29, 2012, 09:07:37 AM »
a lawyer/accountant

but i know thats not what you mean Kimba....

so it would probably be a summer home in Crested Butte, Colorado

« Last Edit: March 29, 2012, 09:13:42 AM by Christians4LessGvt »
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kimba1

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Re: Mega lotto over 500 million
« Reply #3 on: March 29, 2012, 10:03:53 AM »
Actually bt that was my first thought and likely I'll spent the first year stablizing all that money before anything. Except the shoes of course.
I think i'll likely give college money to all the kids in my family . I'm an asshole and don't care to buy anyone houses or cars. Thats just me
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Xavier_Onassis

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Re: Mega lotto over 500 million
« Reply #4 on: March 29, 2012, 11:08:42 AM »
The odds are astronomically against winning the lottery.

It is not being an asshole to not wish to buy houses and cars for people, unless you wish to.

Buying an education would be a better choice in te long run. Odds are that the benefits would go on far into the future.

Most people have no clue as to what to do when they win. I am sure what I would do, but  never buy a ticket. If I am destined to win, I will FIND a winning ticket.
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kimba1

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Re: Mega lotto over 500 million
« Reply #5 on: March 29, 2012, 11:20:01 AM »
Not much of problem for me since the lost is $4
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BT

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Re: Mega lotto over 500 million
« Reply #6 on: March 29, 2012, 11:24:38 AM »
Yeah i just bought 5 tickets. What the heck. Can't win if you don't play.
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Xavier_Onassis

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Re: Mega lotto over 500 million
« Reply #7 on: March 29, 2012, 11:31:31 AM »
Voluntary taxes is the best way of looking at this.

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kimba1

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Re: Mega lotto over 500 million
« Reply #8 on: March 29, 2012, 11:32:55 AM »
One quick pick,three by hand random
My rule is never buy more than a good dinner. I'm still safe

Got no problem with voluntary taxe approuch
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BT

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Re: Mega lotto over 500 million
« Reply #9 on: March 29, 2012, 12:44:21 PM »
Yeah that's why i drove over the state line to buy them in GA. I still have people attending school there.
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Christians4LessGvt

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Re: Mega lotto over 500 million
« Reply #10 on: March 29, 2012, 10:16:07 PM »
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kimba1

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Re: Mega lotto over 500 million
« Reply #11 on: March 29, 2012, 10:22:43 PM »
How does one make a perpetual fund?..
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BT

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Re: Mega lotto over 500 million
« Reply #12 on: March 29, 2012, 10:29:18 PM »
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Xavier_Onassis

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Re: Mega lotto over 500 million
« Reply #13 on: March 29, 2012, 10:35:18 PM »
How does one make a perpetual fund?..

===================================
The usual way is to invest in something that pays constant annual interest or dividends greater than annual withdrawals.

If you had $1 million invested in a 5% investment, you could withdraw $50K annually forever and still have $1 million in the account. If you took out less, then you could make up for inflation as well.

I would think that one would be well advised to buy and sell specific investments in harmony with the type of investments that are yielding the best dividends and/or interest, as these vary from year to year.

The Permanent Portfolio, the Merger Fund, several types of government bonds and the Sequoia Fund, as well as an index fund based on the Wilshire 5000 would be a good start.

SEQUX, the Sequioa Fund, seeks to imitate Warren Buffett's Berkshire Hathaway Series A stock.
 
« Last Edit: March 31, 2012, 01:53:03 PM by Xavier_Onassis »
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MissusDe

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Re: Mega lotto over 500 million
« Reply #14 on: March 31, 2012, 05:06:02 AM »
After all the financial arrangements, my first purchase for myself would be a Tempurpedic bed.  An annual contribution to a local charity that I was involved in at one time would be in order. Then, I'd set up a college fund for my new grandson and indulge in gifts for family and friends...and maybe do some travelling.
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