Investing A Jackpot

Reply #10

psykomo — Sat, 21 Jun 2008 02:20:36 GMT

Life Happen'$$$$$$$$$$$$$$$$$$$$:

MABY on the LP IT will HAPPEN to UUUUUUUUUUUUUUU 22!?

BUT, DRILL, DRILL, DRILL, for the next 5-YEAR'ssssssmay help $1.00/GL?

ask LOTTERy POST too BRING UR FUEL CO$T DOWN

thank's TODD

LOL

PSYKOMO

Reply #9

sirbrad — Fri, 20 Jun 2008 09:12:44 GMT

Actually I quoted the original poster at about $50 million but then did the math for $5 million, because that is the example I always use, which would be $250,000. I aim for anything $5 million and up, but would settle for $1 million and up if I had to.

Reply #8

JAP69 — Thu, 19 Jun 2008 20:27:34 GMT

Do not count on the treasury replacing every dollar.

Read Ripsnorters blog about money replacement. He went thru it one time. Did not get back all that he lost.

Reply #7

bytheshore — Thu, 19 Jun 2008 19:32:01 GMT

If you stuff it in a mattress and the house catches fire what would you have then. Ashes.

All is still not lost. Ashes can be sent to the Treasury's Bureau of Engraving and Printing.

I saw that on Discovery years ago. They were able to examine a pile of ashes and determine the bills that were burnt. I was really impressed.

Reply #6

Uff Da! — Thu, 19 Jun 2008 12:20:48 GMT

Sirbrad, I believe you misplaced a decimal. $50 million at 5% would be $2,500,000 not $250,000, or about $48,000 a week. $40,000 a week on $58 million would be assuming an interest rate of approximately 3.6%.

Reply #5

sirbrad — Thu, 19 Jun 2008 07:20:26 GMT

$40,000 a week? I would like to know what investment that is. Probably lots of risk for that price. A 5% CD is good enough for me, and safe. At $50 million that would be like $250,000 a year to start! Imagine the compound interest in several years! I doubt I would spend even $20,000 a year and I would be VERY happy.

Reply #4

DC81 — Thu, 19 Jun 2008 07:07:41 GMT

I'd think it'd be better off to just pay off the morgage, though it should be easy enough to figure out whether it'd be worth it or not.

I for one would probably buy at a fancy car, but not an entire fleet of them or a single car that cost million dollars or half that, no car that can go 200+ miles per hour for me. I wouldn't buy a million dollar mansion either. I might not even buy or build the home I have had in mind for a long while because I wouldn't exactly need all the space since... [ More ]

Reply #3

justxploring — Thu, 19 Jun 2008 04:18:18 GMT

There is an ongoing debate about paying off debts like mortgages and car payments. Yes, there are always tax advantages (don't know about other countries however) but then you are also paying a lot of interest. There are law firms that specialize in estate planning. Still, you can get ripped off if you're not careful and do your own homework. The best thing is to learn from that old adage Never put your eggs in one basket. I've said it before - so much depends on one's personal lifestyle, age an... [ More ]

Reply #2

myturn — Thu, 19 Jun 2008 03:53:57 GMT

I have heard it said, it you win, don't rush and pay off your mortgage. There are tax benefits to having a mortgage, and depending on your interest rate, you may be better off using the win to buy another property or investing.

Reply #1

four4me — Wed, 18 Jun 2008 05:27:34 GMT

If you win 58 million you have to put it somewhere... banking institutions will go out of their way to get you to invest with them it's up to the person who wins to consult a financial adviser. Or park the money and take some investing classes or business management classes. 58 million can go a long way into a secure future for you and family.

If you stuff it in a mattress and the house catches fire what would you have then. Ashes.

Investing A Jackpot

myturn — Wed, 18 Jun 2008 05:10:44 GMT

There was a recent jackpot win of $58 million, here in Australia. It was reported in the media that $58 million would earn $40,000 a week in interest. Do winners get advice on dealing with financial institutions? Many people would feel intimidated by big banks and could be easily talked into anything.