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NY hospital orderly wins $20 million lottery jackpot

Topic closed. 63 replies. Last post 4 months ago by BellasBMWLucki.

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Drenick1's avatar - villiarna
USA
United States
Member #152806
February 25, 2014
477 Posts
Offline
Posted: May 19, 2014, 8:45 pm - IP Logged

I've been in for $5 a draw for quite awhile. Few $70 winners. Not close enough...Crazy

Doing better than me. I had two 3 out of 6 winners with my first 10-draws and nothing yet with this most recent 10-draw ticket.

Never take advice from someone unless you are willing to live their lifestyle. 

    Avatar
    NY
    United States
    Member #23835
    October 16, 2005
    2842 Posts
    Offline
    Posted: May 19, 2014, 10:12 pm - IP Logged

    Well i don't have a million dollars am I'm living just fine. And so are billions of other people around the world. I hear what you are saying but why cant he or anyone else live with a million given to them? The problem is that we all just want to BUY stuff. Buy, Buy, Buy. Well if one's approach to a satisfactory quality of life revolves around what he or she can 'buy', then no amount of money will ever be enough. He or anyone else with his new found financial blessing should be able to do just fine, all that's required is a bit of discipline.

    "Well i don't have a million dollars am I'm living just fine."

    Have you quit your job and started living on your savings yet?

    His problem isn't just buying stuff. It's how long he'll need an income, and inflation.  He's 48, so his life expectancy is probably at least another 30 years, and perhaps 40 or more. Even if he could safely earn 10% and live on the 100k income from a million bucks today, inflation of 3% would mean he'd need an income of 142k when he's 60 to have the same spending power. At 70 he'd need almost 192k. Given a more realistic return on his investment, he could scrape by on a very modest income and not be broke until his mid-60's or so.

    His net from the "$20 million" jackpot should be about $6 million. That's enough for a very low risk investment to provide a fairly comfortable income that will increase by 3% per year and last until he's 82. A slightly higher rate of return could give him more income  or last past 82 in case he forgets to die on time, but it also increases the chance that he'll lose principal. Either way, it only works if he lives a comfortable lifestyle instead of an extravagant one.

    "all that's required is a bit of discipline."

    There's the problem. Does it sound like he's got the necessary discipline and a realistic grasp of how much money it takes to live a given lifestyle if he thinks he can live  on a million bucks? If he runs out and buys a house that costs a million bucks and an expensive car right off the bat that's probably a good sign he needs a wake up call. At least an expensive house on Long Island is probably a good investment. He can sell it later, but in the meantime it's a major expense that reduces the standard of living that the rest of his income can pay for.

      rock_nc's avatar - Lottery-017.jpg
      small town USA
      United States
      Member #2481
      October 8, 2003
      196 Posts
      Offline
      Posted: May 20, 2014, 8:55 am - IP Logged

      "Well i don't have a million dollars am I'm living just fine."

      Have you quit your job and started living on your savings yet?

      His problem isn't just buying stuff. It's how long he'll need an income, and inflation.  He's 48, so his life expectancy is probably at least another 30 years, and perhaps 40 or more. Even if he could safely earn 10% and live on the 100k income from a million bucks today, inflation of 3% would mean he'd need an income of 142k when he's 60 to have the same spending power. At 70 he'd need almost 192k. Given a more realistic return on his investment, he could scrape by on a very modest income and not be broke until his mid-60's or so.

      His net from the "$20 million" jackpot should be about $6 million. That's enough for a very low risk investment to provide a fairly comfortable income that will increase by 3% per year and last until he's 82. A slightly higher rate of return could give him more income  or last past 82 in case he forgets to die on time, but it also increases the chance that he'll lose principal. Either way, it only works if he lives a comfortable lifestyle instead of an extravagant one.

      "all that's required is a bit of discipline."

      There's the problem. Does it sound like he's got the necessary discipline and a realistic grasp of how much money it takes to live a given lifestyle if he thinks he can live  on a million bucks? If he runs out and buys a house that costs a million bucks and an expensive car right off the bat that's probably a good sign he needs a wake up call. At least an expensive house on Long Island is probably a good investment. He can sell it later, but in the meantime it's a major expense that reduces the standard of living that the rest of his income can pay for.

      I Agree! that's sounds good!

        BellasBMWLucki's avatar - 21dfko1
        New Member
        Cranford
        United States
        Member #156372
        June 16, 2014
        17 Posts
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        Posted: June 16, 2014, 10:21 pm - IP Logged

        hola.

        y' how true suri.

        yep. i just love his story!

        Late forties only?

        Aww,he is still young enough to enjoy each cent of it.with his lovely NY familia.

        love this story so much.Cheers

        Adios.

        Noche.

        y' Felicidades,todo...Dance(congrats all winners en 2014!!!)

        mi beautiful m series Amo mi Lotto Nueva Jersey Cash Cinco(5)pero time to get all 5,en 2014!

        NYC-NJ Tri-state Lotto.This lucki mujer,keep on winning Pick 4!(  Straight)numerous wins!

              4 out of 5 number winning on Jersey-Cash  multiple times!"Time for ALL FIVE!!!

        Espera por $ grande un ahora!( waiting to hit the $$$Big One-God-Willin'2014!

        Mega,Jersey Cash 5 #s...Or Powerball$$$ Either Big 1,will be fine w/me!

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        Stilleto,4.0 Mami...

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        ~Que tengas mucha,suerte~

        (may you all have alot of luck winning $$$ lottery en 2014!)

        Takes,a lil'bit of astute playing & carefully-choosing of #'s,few quick pick encompassing

        with a lil bit of weekly luck...Discipline en vida,es the only way to ensure when you win,you will make it last!"

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        Good luck everyone!