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Michigan woman dreamed of $4M lottery win — then it happened

Topic closed. 26 replies. Last post 2 months ago by larry3100.

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Fresno, California
United States
Member #157851
August 2, 2014
3363 Posts
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Posted: March 12, 2019, 9:07 am - IP Logged

If the IRS didn't soak you for 20-30 years taking the annuity, it might not be a bad idea.  If she's smart she'll have all her ducks in a row and not worry about money rest of her life.

I Agree! She was a news spot here on a Fresno, CA tv broadcast.  "Not worry about money for the rest of her life". That is what us lottery dreamers play for.  PB could be our ticket to freedom this week.

 When do you think Todd will write his Top 25 jackpots? 

Dance

  " Live Long and Prosper" Spock on Star Trek. A Vulcan.

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    Simpsonville
    United States
    Member #163184
    January 22, 2015
    1840 Posts
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    Posted: March 12, 2019, 11:28 am - IP Logged

    I Agree! She was a news spot here on a Fresno, CA tv broadcast.  "Not worry about money for the rest of her life". That is what us lottery dreamers play for.  PB could be our ticket to freedom this week.

     When do you think Todd will write his Top 25 jackpots? 

    Dance

    Good point music*; always enjoy Todd's top 25 Jackpots.

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      United States
      Member #122687
      February 6, 2012
      360 Posts
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      Posted: March 12, 2019, 3:21 pm - IP Logged

      Accept a one time payment of $2.5 mill is not smart when she's so young.

      Oh really, you think so? 

      Let's say she did something simple and bought commercial property and got something like a 9% return every year, spent $2 million of the $2.5 million doing it, that's $180,000 a year. Multiply that by 30 years and now you have $5.4 million plus the property even if it didn't appreciate worth $2 million for a total of 7.4 million vs $4 million. By barely trying she could effectively double her money vs taking the annuity. Now if she's a complete idiot and can't manage her money or whatever then yeah, by all means take the annuity. 

        Artist77's avatar - batman14

        United States
        Member #121741
        January 16, 2012
        6926 Posts
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        Posted: March 12, 2019, 5:14 pm - IP Logged

        Oh really, you think so? 

        Let's say she did something simple and bought commercial property and got something like a 9% return every year, spent $2 million of the $2.5 million doing it, that's $180,000 a year. Multiply that by 30 years and now you have $5.4 million plus the property even if it didn't appreciate worth $2 million for a total of 7.4 million vs $4 million. By barely trying she could effectively double her money vs taking the annuity. Now if she's a complete idiot and can't manage her money or whatever then yeah, by all means take the annuity. 

        I guess you have not seen the stories of lottery winners investing in businesses for which they have zero expertise and losing it all. Buying a commercial property is not simple on any level and leaving her only $500,000 for other issues is not wise. Do you understand the costs of operation for a $2 million commercial property, Legal advice, licenses, inspections , upkeep, and possible fines, etc.? And not all commercial properties are successful.  Most of that on paper guess of a 9% gain would not be realized until it was sold. 

        Muni bonds are about as risky as I would go with less than $5 million.

        Je vous salue, Marie, pleine de grace.  We will rebuild!

          LiveInGreenBay's avatar - driver
          Green Bay
          United States
          Member #169386
          October 15, 2015
          2061 Posts
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          Posted: March 12, 2019, 5:36 pm - IP Logged

          I sure can't wait til DEMS WIN... They are already in power again rightfully so by winning back thank the lord the HOUSE... That make me happy to see... 

           

          However, (music) i respect your choice of parties etc.al., and good afternoon! 

           

          I do well on the big expensive tix at times,so i feel it's worth it to try em, and my pick 4 ALOT...

          But, i m only buyin' the bigger tix,more sporatic now."I am doing so well,

          and i hope it continue on winning(by playin' only 1 #)pick 4 and getting  NICE $$$ win,for years." 

           

          I love seeing the FOUR MILLION DOLLAR PRIZE "win" on the ticket, as it just make it that much more REAL."

           

          I look  her ticket, and isay WOW, almost in her thirties, Partyand she is going to be able to truly

          (i hope)wisely enjoy it while investing to make it last or at least i HOPE... But, yet, some do not.and while young, or older lose it jut way too too fast.." I love seeing the real WIN with the prize underneath, i would have passed out fast lol aw. happy for her though. Congrats to her...

          Do the rest of us a favor, stay in California.

          Never give up.  Banana

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            United States
            Member #122687
            February 6, 2012
            360 Posts
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            Posted: March 12, 2019, 7:33 pm - IP Logged

            I guess you have not seen the stories of lottery winners investing in businesses for which they have zero expertise and losing it all. Buying a commercial property is not simple on any level and leaving her only $500,000 for other issues is not wise. Do you understand the costs of operation for a $2 million commercial property, Legal advice, licenses, inspections , upkeep, and possible fines, etc.? And not all commercial properties are successful.  Most of that on paper guess of a 9% gain would not be realized until it was sold. 

            Muni bonds are about as risky as I would go with less than $5 million.

            You can buy an apartment complex or other commercial property and a management company will do everything for you, people do so all the time. Also 7-9% is the average annual NET profit for commercial property AFTER all expenses if you pay cash for it, the really prime properties maybe 5%. I know three people that have won the lottery, years later they are doing just fine, still in their homes, still have their cars and still retired. I'm pretty sure with a paid off house and cars you can live just fine with the income from your properties. My one buddy that won the Mega Millions lives off the interest from his money he has invested, budgets himself $10,000 a month, house and cars are paid for. I have a neighbor that owns a large business and also has apartments and a few franchise restaurants also and he probably steps inside those restaurants about 5 times a year if that, and he's had them for years now. Lottery winners aren't nearly as dumb as people make them out to be or hope they are.

              rcbbuckeye's avatar - Lottery-062.jpg
              Texas
              United States
              Member #55887
              October 23, 2007
              8695 Posts
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              Posted: March 12, 2019, 7:38 pm - IP Logged

              Do the rest of us a favor, stay in California.

              Amen!

              I Agree!

              CAN'T WIN IF YOU'RE NOT IN

              A DOLLAR AND A DREAM (OR $2)

                Artist77's avatar - batman14

                United States
                Member #121741
                January 16, 2012
                6926 Posts
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                Posted: March 12, 2019, 7:44 pm - IP Logged

                Amen!

                I Agree!

                I was a bit surprised with the comments about the gender of a woman winner in another post.  Very obviously female but maybe the lp member lives in very non diverse community or a small town.  Not very pc for California. But it is do as I say vs do as I do.

                Je vous salue, Marie, pleine de grace.  We will rebuild!

                  Artist77's avatar - batman14

                  United States
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                  January 16, 2012
                  6926 Posts
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                  Posted: March 12, 2019, 7:47 pm - IP Logged

                  You can buy an apartment complex or other commercial property and a management company will do everything for you, people do so all the time. Also 7-9% is the average annual NET profit for commercial property AFTER all expenses if you pay cash for it, the really prime properties maybe 5%. I know three people that have won the lottery, years later they are doing just fine, still in their homes, still have their cars and still retired. I'm pretty sure with a paid off house and cars you can live just fine with the income from your properties. My one buddy that won the Mega Millions lives off the interest from his money he has invested, budgets himself $10,000 a month, house and cars are paid for. I have a neighbor that owns a large business and also has apartments and a few franchise restaurants also and he probably steps inside those restaurants about 5 times a year if that, and he's had them for years now. Lottery winners aren't nearly as dumb as people make them out to be or hope they are.

                  I am not buying it and I know a great deal about commercial investment. It has nothing to do with intelligence of the lottery winner but more with greed.

                  I would question the intelligence of any lottery winner giving out personal financial info to an alleged friend who posts the details online.

                  Je vous salue, Marie, pleine de grace.  We will rebuild!

                    oate's avatar - AS5hcja

                    United States
                    Member #193172
                    October 22, 2018
                    491 Posts
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                    Posted: March 12, 2019, 9:02 pm - IP Logged

                    I guess you have not seen the stories of lottery winners investing in businesses for which they have zero expertise and losing it all. Buying a commercial property is not simple on any level and leaving her only $500,000 for other issues is not wise. Do you understand the costs of operation for a $2 million commercial property, Legal advice, licenses, inspections , upkeep, and possible fines, etc.? And not all commercial properties are successful.  Most of that on paper guess of a 9% gain would not be realized until it was sold. 

                    Muni bonds are about as risky as I would go with less than $5 million.

                    She should go the Nicolas Cage route and buy some "investment castles" in Europe. I believe this turned out quite well for him.

                    Only my hairdresser knows for sure.

                      Artist77's avatar - batman14

                      United States
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                      January 16, 2012
                      6926 Posts
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                      Posted: March 12, 2019, 9:34 pm - IP Logged

                      She should go the Nicolas Cage route and buy some "investment castles" in Europe. I believe this turned out quite well for him.

                      Lol

                      Je vous salue, Marie, pleine de grace.  We will rebuild!

                        larry3100's avatar - larry icon2.jpg
                        Redwood City,California
                        United States
                        Member #70501
                        February 3, 2009
                        211 Posts
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                        Posted: March 13, 2019, 8:55 pm - IP Logged

                        Some people have all the luck! See Ya!