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Lottery winner lost money after investing funds

Topic closed. 63 replies. Last post 7 years ago by Littleoldlady.

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time*treat's avatar - radar

United States
Member #13130
March 30, 2005
2171 Posts
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Posted: January 27, 2010, 10:46 am - IP Logged

Smart kid, Bad idea off investing large sum of money in the market, its too risky now days.

He's young enough to regain  his losses.

I Agree! A few lucky souls have even won a second jackpot.

In neo-conned Amerika, bank robs you.
Alcohol, Tobacco, and Firearms should be the name of a convenience store, not a govnoment agency.

    DC81's avatar - batman39
    MI
    United States
    Member #54830
    August 31, 2007
    985 Posts
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    Posted: January 29, 2010, 12:12 pm - IP Logged

    The best part is this seems just like a repeat of the story about him over a year ago, which is conveniently linked over on the right side with the related stories. LOL

    http://www.lotterypost.com/news/183368

    There are just as many things to take into consideration with taking the annuity as there are with taking a lump sum.

    You can't predict random.

      Avatar

      United States
      Member #83701
      December 13, 2009
      225 Posts
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      Posted: January 31, 2010, 11:09 am - IP Logged

      I'm sorry he's lost so much of his winning and I hope he gets it all back. 

       

      He seems like a smart kid.  He'll be alright.

      Hmmm, smart enough to invest but not smart enough to do dollar cost averaging and benefit from the down turn.   If you invest it all at one time then you limit what you can do.   Still $330,000 should give him a decent head start and the recession won't last forever, he'll get it back.

        Littleoldlady's avatar - basket
        Clarksville
        United States
        Member #487
        July 15, 2002
        17638 Posts
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        Posted: February 2, 2010, 10:55 am - IP Logged

        He should park it for the long term and aim for just 10% (safety) compounded interest.  If he can get this, he will have his 1 million back by the time he is 34 or 35.  The rule of 7.

        If you know your number is going to hit, have patience and then KILL IT!

        You never know when you will get another hit.