What would the experts do with a lottery jackpot?

Comment #65

sirbrad — Mon, 13 Mar 2006 06:46:35 GMT

Agree with Uff Da! If you take a lump sum and pay all the taxes due, then you won't be paying more tax on the original jackpot.

That is what I thought. Such taxation as some people claim would be ludicrous, and illegal. The IRS is already greedy enough as it is.

Comment #64

golotto — Mon, 13 Mar 2006 06:29:34 GMT

What would I do with a lottery jackpot? ... I d stay out of the stock market. Did I say that? Yep, sure did, no playing the markets with my winnings.

But wait , says the high priced financial advisor I have consulted ... One must have stocks for a well rounded portfolio! Without stocks, you ll be missing growth opportunities. Just look at the historical trend and see how the markets have done over the long haul.

Not to worry, he'd say, No need to lose sleep participating in the marke... [ More ]

Comment #63

justxploring — Mon, 13 Mar 2006 06:08:31 GMT

Quote: Originally posted by Uff Da! on March 12, 2006 sirbrad said:

I am not sure, but I think someone said that the IRS continues to take a certain percentage of your money year after year, even if the principal is not accumulating interest? If so, that is a load of crap, especially 10% of whatever it was. That would mean that if one won 20 million dollars after all taxes, they would then be paying out a whopping $2 million the next year.

That's incorrect. You pay income tax on income.... [ More ]

Comment #62

Uff Da! — Mon, 13 Mar 2006 02:38:28 GMT

sirbrad said:

I am not sure, but I think someone said that the IRS continues to take a certain percentage of your money year after year, even if the principal is not accumulating interest? If so, that is a load of crap, especially 10% of whatever it was. That would mean that if one won 20 million dollars after all taxes, they would then be paying out a whopping $2 million the next year.

That's incorrect. You pay income tax on income. Assuming you invested much of your winnings and had t... [ More ]

Comment #61

sirbrad — Mon, 13 Mar 2006 00:52:25 GMT

Well said, I also agree that security is of prime importance. That is why I am glad I live in a dead town in the middle of nowhere. I would definitely live in a gated type of community, but I would have to build my own, this area is too dead and does not even have them.

Although it still would not be necessary here, I know some jackpot winners who won about 60 miles away in a more populated area, and have yet to have any trouble. I would at least go to a higher elevation, and create some pl... [ More ]

Comment #60

sirbrad — Mon, 13 Mar 2006 00:43:03 GMT

I am not sure, but I think someone said that the IRS continues to take a certain percentage of your money year after year, even if the principal is not accumulating interest? If so, that is a load of crap, especially 10% of whatever it was. That would mean that if one won 20 million dollars after all taxes, they would then be paying out a whopping $2 million the next year.

Assuming the did not spend much, then the next year they would be paying out 1.8 million, then 1.6 million, etc. At this... [ More ]

Comment #59

libra926 — Sun, 12 Mar 2006 20:17:12 GMT

lolololol.............3/12/2006

yes......lets make this a BIG WINNING YEAR for the members of the LP....

Comment #58

psykomo — Sun, 12 Mar 2006 20:05:22 GMT

Wooodaa.....................

Cuuuuuuuuuuuuuuudaaaaa!!!!!!!!!!!!!!!!!

Shuddddddddddaaaaaaaaaaaaaaa???????????

Lets win in 2006$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$

LOL

PSYKOMO

Comment #57

libra926 — Sun, 12 Mar 2006 19:58:10 GMT

HAPPY SUNDAY UNCLE JIM ....3/12/2006

This is the fst opportunity I've had to read your posting, but let me say, you gave excellent and sound advice. You must have been a CPA, or CFO of a company or Tax Planner in your early years. Just reading thru everything, is for me, somewhat mind boggling. But, it's essential to follow these guidelines to keep from squandering, not only Lottery winnings, but our Salaries as well. Even our small, and medium inheritance from our Parents. My generation,... [ More ]

Comment #56

gy65 — Sun, 12 Mar 2006 17:23:27 GMT

One example of how to share the wealth . . Ken Williams, founder of Sierra On-Line, hosts free no-banner websites.

http://www.talkspot.com/aspx/templates/blank.aspx?msgid=0

Comment #55

Uncle Jim — Sun, 12 Mar 2006 15:44:29 GMT

There really are some good comments in this thread and I thank everyone who participated.

@TheGameGirl:

I completely understand where you are coming from. I had a very agressive portfolio pre 9/11 and I lost my happy little a** after the attack. The fund never fully recovered. I too think Real Estate is an excellent investment. But agin I think one needs to hedge one's bets with diversity (other investments) and be very selective about the Real Estate that is bought.

@SirBrad... [ More ]

Comment #54

sirbrad — Sun, 12 Mar 2006 06:05:37 GMT

I am not saying I would not spend money, of course I would. I also would most likely invest it at the highest yield possible. However I was simply pointing out that it would not be necessary depending on the size of the jackpot.

I was making a point just how much money millions really is, and I am not interested in the fast lane lifestyle synonymous with the rich. But I would be very well enough, and content at the lowest price possible. I was brought up with strong values, and obtaining mor... [ More ]

Comment #53

BaristaExpress — Sun, 12 Mar 2006 04:21:45 GMT

I thank each and everyone of you who have posted your comments and feelings to this topic! We are all different, each of us will do what is right for us, if we just so happen to be the lucky one to win the big one. And No One will be able to change our mind one-way or another as to their way of thinking, when all of us here on LP already have their minds made up as to what we will or will not do after the win! I have enjoyed reading all of the post from each of you and to say the least it was

Comment #52

TheGameGrl — Sun, 12 Mar 2006 02:51:09 GMT

Thankyou KY for giving a different spin on the aspect of the real estate market. I beleive I specifically stated the circumstances that did produce lucrative return. RE: Farmland and the right location. Sorry if that was overlooked.

I can only speak of what I had experience in the stock market and how it did affect my financial portfolio. Yes our company financial advisor was agressive and I lost from following that advice.

Since this post was about investments I stand by my opinion that... [ More ]

Comment #51

Chewie — Sat, 11 Mar 2006 18:44:18 GMT

Hey Chewie, may I dare suggest that I have a gut deep, deep, deep gut feeling that not only are you going to be in a position to do the things you mention above, but you are also going to win because God is going to use you for a very special purpose and Chewie, He is going to present you with one woman, who will love you totally and sincerely. She is coming. You have just gone throught the *#!@ !#)* _ in life that you have so that when it is your time to enjoy life on earth, you will apprecia... [ More ]

Comment #50

Chewie — Sat, 11 Mar 2006 18:36:35 GMT

(CBS) If you think the rich don't pay their fair share in taxes, in some cases, you're absolutely right, especially if you're talking about big corporations and wealthy individuals who use questionable tax shelters.

Right off the bat, they start the liberal montra. questionable tax shelters There is no such thing as a questioinable tax shelter. It is legal or it is not. It works or it doesn't. If there is an opportunity, businesses or the rich should ignore it? The rich already pay... [ More ]

Comment #49

justxploring — Sat, 11 Mar 2006 18:36:21 GMT

Like I said I don't need a lot, and that would be more than enough for me. sirbrad

Agree 100%. I hate using expressions like everything is relative because it's so cliche, but people seem to confuse want and need a lot of the time. I totally agree that $5,000 a month is enough money for a healthy single man or woman to live on, even a couple. But a lot depends on your needs. If you have children and want them to get a good education, have big weddings, and set up trust funds for them... [ More ]

Comment #48

mylollipop — Sat, 11 Mar 2006 18:22:53 GMT

Comment #47

gy65 — Sat, 11 Mar 2006 18:15:52 GMT

Unless you are dumber then dirt and couldn't find your butt with both hands

10-17-03 60 Minutes report Gimme Shelter

http://www.cbsnews.com/stories/2003/10/16/60minutes/printable578497.shtml

IRS: Tax Scams - How To Recognize And Avoid Them

http://www.irs.gov/businesses/small/article/0,,id=106788,00.html

Comment #46

Chewie — Sat, 11 Mar 2006 17:03:54 GMT

Thats what makes this place interesting. Some have big plans, some have small. I could do all you say, and still spend, spend, spend. It is what millions enable some one to do. For the same reason I won't hide, or build a fence around the property , or buy guard dogs to protect me. Get out there and do! Never have been a shy one

Comment #45

Uff Da! — Sat, 11 Mar 2006 14:50:06 GMT

KY Floyd said:

If you continued to get by on less than 100k when you could easily afford to spend 2,3 or 5 times that much, I'd be very impressed and I'd wonder why you bother throwing your money away on lottery tickets.

I, too, believe I could get by on an average of $50,000 adjusted for inflation for my personal expenses if I were able to remain where I am. That's far more than I'm living on now and I live in a very nice waterfront home. However, I recognize that a big win itself... [ More ]

Comment #44

Chewie — Sat, 11 Mar 2006 14:14:24 GMT

Ahh, so now the modification of the absolute begins. It always does with the perfect

Ever heard of asbestos? Perfectly physical people were in the wrong place at the wrong time. Ever heard of a multilated body due to a drunk driver? Ever heard of Bruce Lee?

Plan for the worst, prepare for the worst. Enjoy the best, don't settle. It is how I got to my age. I didn't walk through the bush in 'Nam thinking I was in perfect physical shape, which I was - 10 miles in full combat gear, r... [ More ]

Comment #43

sirbrad — Sat, 11 Mar 2006 13:47:02 GMT

On average yes, at least for many years. Not saying that I would not ever have to spend more than that, but never more than that every month. Not anytime soon. Although I do plan for the future, I am more concerned about living NOW.

You are much older than I am, so of course you want to spend spend spend. If I was in your position then I would probably do close to the same. You are right, I have no intentions of getting sick. I am an avid fitness buff, and nutritional expert and do not engag... [ More ]

Comment #42

Chewie — Sat, 11 Mar 2006 13:25:18 GMT

Why waste time investing it, you only need $60K a year MAXIMUM; maximum inferring N-E-V-E-R to be exceeded. $60,000 times one hundred years, since you'll not be getting sick, comes to roughly $6,000,000. Throw the rest it out a building window. Even safer, set it on fire in a giant dumpster. Why be bothered with the problem. No tax problem, no inflation problem, no interest problem. No bull dung talk! Keeping any other amount, would go against everything you have said. I'm willing to stand by... [ More ]

Comment #41

sirbrad — Sat, 11 Mar 2006 12:02:42 GMT

Well as I said, it will all be determined by the size of the jackpot I win. I would most likely have plenty of money sitting in the wings for inflation, and I was not talking about that. I would still only continue living as modest as possible. If $60,000 becomes $200,000 a year, which I highy doubt where I live now, then I would have it anyway regardless. Especially since I lived off of $60,000 MAXIMUM a year for as long as I could.

I would most likely invest, as I know that the loss to taxe... [ More ]

Comment #40

Chewie — Sat, 11 Mar 2006 11:55:40 GMT

When you're dealing with muli-millions, and have the money for the same type of experts who write the laws, it doesn't matter whether it is 35%, 38%, or 40%. Ted The Swimmer Kennedy and John Stab A Veteran In The Back Kerry aren't paying those percentages, and no other rich person will either. Unless you are dumber then dirt and couldn't find your butt with both hands. Get money, have money - keep money

Comment #39

Chewie — Sat, 11 Mar 2006 11:47:15 GMT

CBS just issued a study (YEAH I know CBS!) stating that for a person in their 30's in 2006, they will need a minimum of $200,000 dollars during retirement for O-N-L-Y medical expenses; double that if you live past 80. Had a heart attack lately? Had bypass surgery, or just every day surgery, lately? I had the whole gambit a few years back. In New Jersey, the medical costs were half a million dollars. In my life time I have had the benefit of the Government or a good medical insurance. Into... [ More ]

Comment #38

sirbrad — Sat, 11 Mar 2006 11:41:47 GMT

Another very astute observation GameGrl. But you are right again, being I came from practically nothing, and grew up with the bare minimum, I learned quickly to value what I already did have in life and to never take anything for granted like most do. Everything I have now I earned through my own hard work, intelligence, and wisdom derived from years of hardship and simply just trying to get by. That is why you will never hear me complaining about winning a lucky for life jackpot

Everyone ta... [ More ]

Comment #37

sirbrad — Sat, 11 Mar 2006 11:13:49 GMT

Like I said I don't need a lot, and that would be more than enough for me. Plus I walk a lot. As luxurious as I would ever need in this area.

Comment #36

KY Floyd — Sat, 11 Mar 2006 06:05:01 GMT

Real estate values rarely drop? You should ask Donald Trump how he nearly lost it all after becoming a billionaire. Ask anybody in the Hudson Valley who sold their home in the first few years after IBM laid off thousands of employees. The same story has happened in many other places, and many economists believe the recent housing bubble is likely to burst on a far larger scale. Real estate may represent equity, but it isn't especially liquid and it carries liability, both in taxes and any other... [ More ]

Comment #35

KY Floyd — Sat, 11 Mar 2006 05:52:29 GMT

Are you joking? Many of my interests are in things that don't cost much more than gas money to drive someplace, so I could be pretty happy on 2 or 300k per year. If I could make 100 to 150k without even getting out of bed I might even retire now and be a bit conservative about my spending. Given a more generous income I'd be more than happy to spend 50k on travel, though I don't see myself staying in any outrageously expensive resorts. If you continued to get by on less than 100k when you could... [ More ]

Comment #34

justxploring — Sat, 11 Mar 2006 05:41:08 GMT

and just what does the government do with all this money they tax on the powerball and mega millions???

I think they're spending it on a national study on lottery addiction

Comment #33

LOTTOMIKE — Sat, 11 Mar 2006 05:37:59 GMT

and just what does the government do with all this money they tax on the powerball and mega millions

Comment #32

gy65 — Sat, 11 Mar 2006 05:33:43 GMT

the tax is at 38% for the government

Just curious how you are calculating 38% . . the 2006 Federal Tax Rate Schedules indicate the highest rate is around 35%.

http://www.irs.gov/formspubs/article/0,,id=150856,00.html

Comment #31

justxploring — Sat, 11 Mar 2006 05:24:14 GMT

AMEN! A few years ago a doctor I was seeing for natural healing overdosed on cocaine. It was in the local newspaper. So much for practice what you preach

Comment #30

markp1950 — Sat, 11 Mar 2006 05:05:04 GMT

>When the winner recent MM winner comes forward Microsoft will be just

>one really good operating system away from losing most of their value

>if it's somebody else who develops it, but today they're apparently a

>pretty good investment.

If you look to invest in Micro$oft look at a graph of their stock value.... FLAT for 2 years... Most of their income comes from 2 areas... Operating systems and Office suites... And the replacement are already there www.distrowatch.com... [ More ]

Comment #29

KY Floyd — Sat, 11 Mar 2006 04:34:21 GMT

If there's a god and she cares one whit about who wins, how come Jack Whittaker got about $113 million (after taxes) and Mother Teresa didn't win anything? If there's a god and he wants to give me a lottery jackpot there's no reason to even buy a ticket. When the winning ticket, with my signature already on the back, blows in the window of my car while I'm cruising down the Thruway at 75 I'll figure god deserves a share. Since I can't trust a church to tell me which god deserves it I'll have to... [ More ]

Comment #28

TheGameGrl — Sat, 11 Mar 2006 03:43:01 GMT

Leave it to you Chewie to set the record straight. You're forthright. One never has to guess with where you stand on matters. Its true that TITHING is a Church ploy and not a GOD issue. Churchs are a business that are not for profit so in keeping with that idea, no need for them to profit off of a hard earned paycheck or a well earned jackpot. Be a person a beleiver of a faith or not, it has no bearing on who wins the jackpot.

Comment #27

Chewie — Sat, 11 Mar 2006 02:45:30 GMT

God isn't going to have a damn thing to do with it, thus he doesn't get a percentage; why should any human be obligated to provide funds to a superior being? If he wants a share, let him go out and sprinkle his magic sperm dust on his own ticket. If his magic sperm dust can get a virgin pregnant, and he can write a best selling comic book about it, then he can create his own lottery winnings. He can also take care of all the needy that he created during his famous temper tantrums. No wonder n... [ More ]

Comment #26

igotjackpot — Sat, 11 Mar 2006 01:54:08 GMT

There is a purpose for someone who won the jackpot. God doesnt give that away without a purpose. The way I look at it, if you win it, you need to give it back at least 10% (TITHE). HE has already given then you give it back at least 10%. It's alway that way. REMEMBER 10% for God ... you can use the 90% wisely.

Comment #25

TheGameGrl — Sat, 11 Mar 2006 01:11:22 GMT

Sirbrad- Your correct that the first year of collecting (if you chose cash option) the tax is at 38% for the government plus any state or local (if they have it in the state of play). After that the money is yours to do as you so please. The catch is, anytime that money makes a profit - such as from interest or trades, you get nailed for making money! Go figure that riddle out! The govt taxes you for gains, interest and selling items. The way around it is simple, hide your money in a nuns habit.... [ More ]

Comment #24

Chewie — Sat, 11 Mar 2006 01:06:13 GMT

Say I wanted to live a luxurious lifestyle, where I am from $5,000 a month would buy that, even much less.

Luxury is $5K a month - $60K a year? I'd pay my chauffer more then that, and provide his car! Man, Pennsylvania gasline tax would eat a large portion of that

Comment #23

sirbrad — Sat, 11 Mar 2006 00:36:22 GMT

What I still cannot figure out tax wise about the lottery is, what if one chooses to only live off the principal and had no interest bearing accounts, would they still have to pay a tax on their winnings every year? I heard that you only had to pay once (35%) and never have to deal with the IRS after that?

That should be the case, because after once it is no longer income coming in. I could easily live off the principal and still never use it all for a jackpot of about 3 million or more. Say

Comment #22

Uff Da! — Sat, 11 Mar 2006 00:31:51 GMT

TheGameGrl said:

Unless you lived and had money in the stocks back in the 1990's you have no idea what its like to see your hard working money just vanish! And it happened in a manner that didnt allow a person to bounce back! It was gone. Poof! Never again will I trust an advisor to tell me how to handle my money.

Ah, maybe that is why I made out so well. I didn't have a financial advisor. LOL! I made all my own decisions without one. I don't know that I'd dare to try that with mor... [ More ]

Comment #21

Coin Toss — Fri, 10 Mar 2006 23:56:03 GMT

What the financial adviser said in the OP sounds grat for the most part, but I've got to wonder if the financial adviser him or herslef made a score like a lottery jackpot how much of their own advice they'd follow?

What happened to that financial adviser that was telling lottery winners what to do?

Oh, they hit some lottery, quit, and went to Vegas .

Comment #20

TheGameGrl — Fri, 10 Mar 2006 23:54:09 GMT

I'd question anyone deterring the investment in real estate. It rarely drops and if given the right location one can fair well in the real estate market. Its equity not a liability. Buying acrage is the first step. Why? Because at some point a city will expand and when it does, its the local builders who will salivate and bid ridiculous amounts to get the rights to that property. My co-worker is already in this market.Bought farmland (25 acres) at 42k because it was so far out in a rural area.... [ More ]

Comment #19

Chewie — Fri, 10 Mar 2006 23:37:14 GMT

We may be the same age, Chewie, but brother, are we different! I'd give most of it away!

Big difference. If people want a share of the lottery win, they can go out and win the lottery - until then, screw every single one of them. People are poeple, they will exist, or die, whether I give them a portion of any lottery win, or give them nothing. No doubt, I see hundred of thousands of people on the freeway, in both directions, every day, ever week. I have no idea what a single one of the... [ More ]

Comment #18

igotjackpot — Fri, 10 Mar 2006 21:10:06 GMT

First thing first, I put 10% to the church, 10% for supporting needy in the family(brothers, parents),20% real estates, 20% deposit to some banks, 25% investments (stocks, bonds), 10% investments(golds, diamonds, art works), 5% for starting up my own business.

Comment #17

Uff Da! — Fri, 10 Mar 2006 19:52:42 GMT

We may be the same age, Chewie, but brother, are we different! I'd give most of it away! Not all at once, of course. Maybe 10% of the total the first year to charities and $12,000 per person per year to about 20 of my relatives if the jackpot were great enough. After that, gifts and charity donations would come mostly out of annual income with only occasional dips into principal. Reducing principal wouldn't be a problem, as I don't need all that. And I'd leave almost my whole estate to cha... [ More ]

Comment #16

sirbrad — Fri, 10 Mar 2006 18:52:40 GMT

So I have to hire someone to watch someone, and someone to watch that someone, and someone else to watch that someone? Sounds like a big never ending circle of watching, could also make you go broke very quickly. What is to stop all of them from teaming up and planning your bankruptcy?

I am already quite familiar with accounting, and financial planning, so my needs would not go beyond a lawyer. It also all depends on how much money you need, and whether or not you want to invest it. There is... [ More ]

Comment #15

KY Floyd — Fri, 10 Mar 2006 18:36:39 GMT

Uncle Jim - There's nothing hard hearted about your assessment of deductions and charitable donations. Deductions are great if they're for money you either needed or wanted to spend anyway, but giving away $1 and saving 35 to 45 cents on your taxes leaves you with 55 to 65 cents less than you started with. That's just simple math and math has no feelings. In figuring how much I would actually get from a substantial win I just assume that as a practical matter I'd pay the maximum rate on all of... [ More ]

Comment #14

JAP69 — Fri, 10 Mar 2006 14:41:13 GMT

If you get a financial advisor You better hire someone to lwatch the financial and someone to watch the person watching the first person.

Make it easy on yourself. Give all the money to the Gov,t and let them decide what you need. They already do that anyhow.>LOL

Comment #13

dvdiva — Fri, 10 Mar 2006 14:29:59 GMT

You can tell they don't deal with the middle class or people that work for a living. Not getting a new house or car really sounds stupid when you have a car pushing 1 million miles and live in an apartment that's smaller than most closets in large homes. I don't think at 15 million you should get a Ferrarri and a waterfront mansion but you could get a new honda and an average home in a safe neighborhood.

The notion that you should give it away in a family foundation is also right out. I woul... [ More ]

Comment #12

gy65 — Fri, 10 Mar 2006 04:58:55 GMT

If you won the lottery, as eight Nebraska meatpackers did last month, splitting a $365 million jackpot, what investment would be at the top of your wish list?

Just doodling the rough numbers . . .

$177.3M cash option by 8 = $22.162M

- 25% federal and 5% Nebraska withholding = $15.5M

- $2.22M another 10% of $22.162M for the total 35% federal tax obligation = $13.3M

If that amount was invested in a high-yield corporate bond mutual fund yielding around 7%:

$13.5M x 7% = $945,000

Comment #11

mangeydog — Fri, 10 Mar 2006 03:24:10 GMT

"large and apparently stable corporations" "like Enron, Worldcom and Tyco"?!?!?! WTF

Comment #10

Uncle Jim — Fri, 10 Mar 2006 03:05:14 GMT

@Chewie:

I agree. As I said I would buy (and stash some) some gold. But why limit it to only gold? Diamonds (and other jewels) have timeless value too and they are a hell of a lot smaller and portable than gold. And easier to dispose of too.

@KY Floyd:

You do have an excellent point about inflation. If there is a flaw in my plan it is that my plan really doesn't account well for inflation. Well at least not as well as I think it should. Again...the limited stock market investme... [ More ]

Comment #9

Chewie — Thu, 09 Mar 2006 23:48:49 GMT

Jim and KY make valid points. I would add that my stash would be gold. I've mentioned before, a few hundred aacres in Colorado, with some gold stashed would always come in incase the world decided to make a bigger fool of itself then it already has. Gold is gold. Cash is unrealiable in a violatile market.

Comment #8

Chewie — Thu, 09 Mar 2006 23:42:44 GMT

The article was doing real good - until the end. Give a lot of it away? B.S.

Comment #7

KY Floyd — Thu, 09 Mar 2006 19:22:33 GMT

I'm mostly with Uncle Jim on what I'd do. I expect that being broke is bad even more after you've spent some time being rich, so my first concern would be ensuring that there was virtually no chance of having my income drop below a level that's quite comfortable. That means that with 15 million to invest I'd put at least 5 into something solid but conservative. Like Uncle Jim I'd consider the possibility of government failure, but I'd also consider a major failure of the US economy. The governme... [ More ]

Comment #6

sirbrad — Thu, 09 Mar 2006 16:17:57 GMT

Or put $1 million into Northwest stocks like Intel, which now would be $32.4 million, or Microsoft, which now would be $348 million.

Wow Microsoft here I come. I could live off the interest from a million dollars for 20 years easily to begin, and that would only be more incentive.

Comment #5

Uncle Jim — Thu, 09 Mar 2006 15:49:09 GMT

OK...let me try to clear this up in a simple manner. Stocks are risk investment. The market is volatile. Any one who had money in the stock market on 9-10 knows what their portfolio looked like on 9-12. When it comes to stocks there is no gurantee and no safe investment. What goes up can and will come down. Even Blue chips. Yes you can make money in the market but there is risk associated with it and people can and do loose money on stocks.

I am not a professional investor but here'e w... [ More ]

Comment #4

fwlawrence — Thu, 09 Mar 2006 14:41:54 GMT

I must have rocks in my head. I would put 100% in the stock market. I would keep the principal and live off the dividends.

Comment #3

Uncle Jim — Thu, 09 Mar 2006 14:18:16 GMT

I agree with delS. And to take it one step further anyone who put more than 5% to 10% in the stock market has rocks in their head.

Jim

Comment #2

delS — Thu, 09 Mar 2006 13:34:25 GMT

Sound advice to a point; however, the financial planner who would invest in emerging international markets I think has bumped his head. That would be a red flag for me to have someone tell me, a new found wealthy person to put my money in international markets. I wouldn't return his call.

If I had $123,000,000, I may consider putting $10,000,000 in international markets. Today on the cover of the Wall Street Journal is an article about a hedge fund manager who has defrauded doctors, spor... [ More ]

Comment #1

DoubleDown — Thu, 09 Mar 2006 12:23:52 GMT

Sage advice, but I wonder wow much of it will be heeded

What would the experts do with a lottery jackpot?

Lottery Post — Thu, 09 Mar 2006 11:56:16 GMT

Investment Hanging on to all those millions can be as tough as winning in the first place

If you won the lottery, as eight Nebraska meatpackers did last month, splitting a $365 million jackpot, what investment would be at the top of your wish list?

Without a plan, the reality is that 70 percent of all lottery winners will squander away their winnings in a few years, said Peter Toll, president of Family Heritage First in West Linn and past president of Oregon's Financial Planning Ass... [ More ]