Is Lottery it only way to??

Reply #32

jwhou — Wed, 25 Aug 2010 23:55:50 GMT

You should still talk to a lawyer first if you win. The gift taxes on that 1.6 million would be murder, probably an additional 0.75 million that you would have to shell out at tax time and keep in mind that the 25% with holding for taxes won't cover the 35% of federal income taxes that you'll owe. If you do want to take a lump sum and give to your parents, you'll need a lawyer to do some estate planning, perhaps a trust so that what you give out would be taxed as income and not as a gift.... [ More ]

Reply #31

victorl3ichiban — Wed, 25 Aug 2010 23:10:53 GMT

I am contect with the California for tonight which is 9 million with lumpsum 5.6. I will give 1.6 to my parents and the rest for myself. I will move to Oregon and just finish up school and try to become a teacher. The megamillion is too much for me right now $115 million. I just want to live a live where I don't have to worry about if I can afford my daily medication and being step away from homeless.

Reply #30

jwhou — Wed, 25 Aug 2010 01:06:41 GMT

From a purely economic point of view, we would have to have triple digit inflation before the lottery became the best option to become rich. It doesn't take a lot of income to become rich but it does take consistency and diligence. How many people can account for every penny of their last paycheck? Where did it all go to? Do you know how much went to snacks, to drinks, to newspapers or to lotteries? Or do you just have a rough estimate of those expenses

Reply #29

Hermanus104 — Tue, 24 Aug 2010 00:37:01 GMT

On the contrary, for most people the lottery is a good way to become poor. It's only those who use the money wisely that can remain rich.

Reply #28

drhymes74 — Sat, 21 Aug 2010 02:57:57 GMT

Money won't buy friends or family...at least not the kind I want.

I, too, am not a big fan of at least you've got your health... If a person is struggling to make ends meet, it could lead to depression and health problems...same with loneliness.......it too could lead to depression or and poor health. Health may be the last thing you have and even that could fail at any time....

Too much money can do the same thing...it could lead you to indulge in abnormal risk taking (like leaving... [ More ]

Reply #27

victorl3ichiban — Thu, 19 Aug 2010 23:21:24 GMT

I fall in the shoes of those 70% and what worse is that I live in California. I am one step away from being homeless. Plus I need to constantly worry about my med since I need med on daily bases and if I don't have it anymore, my life will be totally screw. Every year seem to be getting worse for me. Also, I have relieze that friends and family are all gone once you don't have any money.

Reply #26

joker17 — Wed, 18 Aug 2010 17:41:16 GMT

You are such a sweetheart......

Reply #25

lottolaughs — Wed, 18 Aug 2010 17:23:48 GMT

I don't buy that tired old quote of ... well, you've got your health ...

God Bless,that's probably because you still have yours,love. I know,I know,I'm full of cliches today,lol. And you're right, most of this country is living paycheck to paycheck, think I read it's around 70% of people.

Reply #24

joker17 — Wed, 18 Aug 2010 17:01:52 GMT

That may be true up to a point, but one could easily lose their job, and their health. Then what? Most people I know are living one paycheck from being homeless. In fact, an ex-boss of mine is now living in his van.

You said it yourself in the last sentence in your quote above. In today's uncertain world .

People will always have problems even when they are rich, but they can at least deal with the problems financially. We live in a material world which requires material money to live and... [ More ]

Reply #23

lottolaughs — Wed, 18 Aug 2010 16:46:37 GMT

Wait a minute....aren't you rich now? Do you have your health? Got a roof over your head? Know where your next meal is coming from? Have a job? A loving family? In today's uncertain world the people who have all of these things are the truly rich.

Reply #22

jimmy4164 — Wed, 18 Aug 2010 16:32:09 GMT

I suspect a much larger number of ladies predicted they would, and didn't.

Reply #21

OwlCreekBridge — Wed, 18 Aug 2010 13:43:28 GMT

I must be dyslexic. I thought the title was It Lottery the only way to

Reply #20

rdgrnr — Wed, 18 Aug 2010 11:04:46 GMT

Thread Title: Is Lottery it only way to??

I just can't get past the annoyance of that alone to think of anything else.

Reply #19

pumpi76 — Wed, 18 Aug 2010 10:00:41 GMT

plus while working to accumulate wealth for 30 years you gain weight and accumulate debt...that by the time you are ready to enjoy it is dissipates due to wealth or personal ailments....

Reply #18

victorl3ichiban — Tue, 17 Aug 2010 22:44:06 GMT

a black lady predicted that she will win the mega million and won it. i guess it is possible if you believe.

Reply #17

badboy00z — Tue, 17 Aug 2010 21:27:43 GMT

Well, I've done a quick calculation and found out that since 2002, an average of 13 people/ year were made millionaires by Mega Millions. And at least 1 person every 2 months hits the jackpot.

Even though winning the lottery is very possible when you look at the statistics, the chances that it will happen to YOU is slim. Lol

Reply #16

birdbreath — Tue, 17 Aug 2010 18:13:28 GMT

on the flip site, it seems the majority of bank robbers actually do get away with it.

Reply #15

birdbreath — Tue, 17 Aug 2010 18:11:08 GMT

i thought about that. but after doing research i found that back robber's tipically make only 5,000 to 10,000 per job! not worth it! i guess the million dollar jobs are only in the movies

Reply #14

Set4life — Tue, 17 Aug 2010 16:02:51 GMT

Answer is No, just go to your local bank and hand them a bag...draw the gun out:) lol.

Reply #13

RJOh — Tue, 17 Aug 2010 15:58:05 GMT

How many wealthy people do you know that got wealthy by winning a lottery. Chances are you know more wealthy people than you know lottery jackpot winners. Every town has a section of town where the wealthiest people live and chances are no one in that town has ever won a lottery jackpot.

Reply #12

drhymes74 — Tue, 17 Aug 2010 15:55:31 GMT

To answer the original post.....

Is the lottery the only way to go? it appears that way.

There are things that I would like to do that the lottery would make financially possible......

1.) To take care of my sons. Working a full time job, paying the bills....helping the kids with school work....everything seems rush rush rush. i sometimes feel burned out and a failure when I am not able to spend quality time with them. I can emply someone to do things rather than do it myself.....like f... [ More ]

Reply #11

drhymes74 — Tue, 17 Aug 2010 15:36:20 GMT

Can't say that I am lazy.....but I still play....hopeful maybe.

Reply #10

savagegoose — Tue, 17 Aug 2010 15:34:28 GMT

well work is only part of it. working smart is also part of the millionaire trick. ie getting out of the working for a wage treadmill and working for yourself.

from what ieve seen most self made millionaiores dont get their doing 9-5 at a factory, the get out and runn their own business., employ others and risk their wealth building that money.

i dunno how many would play the lotto, im guessing most millionaires wouldnt even buy lotto tickets as its a waste of their money. i saw on yt... [ More ]

Reply #9

HoLeeKau — Tue, 17 Aug 2010 15:25:33 GMT

I take them to church on Sundays and somebody comes up to me and says Your sons are the best behaved boys that I have ever seen in church

Um maybe that's because the best behaved boys don't go to church? Just sayin'.

Reply #8

drhymes74 — Tue, 17 Aug 2010 15:16:17 GMT

Recessions come about every 5-7 years.

The key to raising kids to not be spoiled is to not indulge them in every want that they have. There are needs that come first: food, clothing, shelter. If a kid wants a go-cart and a Wii/Playstation and they think that they will get it if they lobby hard enough, they are spoiled. It's the kids that volunteer to help clean up or help others that should get some kind of reward, not too much of one.

One of the things I struggle with is if I won, how wo... [ More ]

Reply #7

pumpi76 — Tue, 17 Aug 2010 14:38:39 GMT

how can you, work diligently and then 10 years down the road there is a huge recession and you get laid off...And they are saying now that a, college degree doesnt guaranteed a nice job or your dream job...

i always thought recessions came every 50 years....

Reply #6

HoLeeKau — Tue, 17 Aug 2010 14:30:44 GMT

You can work and save all you want, but unless you have a high-paying profession, or else you have a sense for business or a valuable talent, it's pretty unlikely that you'll get rich. I know lots of people who work their butts off and still live paycheck to paycheck, and some people who work their butts off and save enough to retire without having to worry too much about money. But not very many who can say they're rich.

Reply #5

savagegoose — Tue, 17 Aug 2010 13:29:54 GMT

working for your million is a more sound plan than buying lotto tickets. you can actually do something about the odds if you work and save. with lotto , its just buy more tickets.

my plan is buy more tickets lol

Reply #4

pumpi76 — Tue, 17 Aug 2010 10:18:00 GMT

if the kids of the wealthy person are going to guff off at least go to college, do it in college or while taking college courses and/or volunteer jobs [volunteer time]...But i still think is wrong...

i dont care if you have a septillion dollars, there will: ALWAYS BE WORK TO DO...ALWAYSSSSS....

Reply #3

pumpi76 — Tue, 17 Aug 2010 10:02:30 GMT

The problem with working to amass a fortune as oppose to instan wealth the problem with working to amass a fortune is that: DO YOU KNOW THE THOUSANDS OF WAY A PERSON CAN DIE...AND THEY LURK EVERYDAY...Not just that, do you know the THOUSANDS OF STUFF that can go wrong with the human body, sickness, conditions, infections etc...That by the time you have worked your: 30 years to amass 4 millions you probably died or had, 600 close encounters with death...

And sometimes working to amass fortunes... [ More ]

Reply #2

OwlCreekBridge — Tue, 17 Aug 2010 08:33:56 GMT

if you look as good as you do in your profile pic, you could always many a rich dude

Reply #1

badboy00z — Tue, 17 Aug 2010 06:39:38 GMT

There's always hard work and determination but not every hard working person get's an opportunity that some others get.

Is Lottery it only way to??

victorl3ichiban — Tue, 17 Aug 2010 05:46:28 GMT

become rich in this country right now? How many of you believe that is only answer