7 reasons to be glad you didn't hit the PB

Reply #24

SoleWinner21 — Mon, 08 Feb 2016 13:36:45 GMT

If they were my relatives and treated me like that. I would be like this at the next family gathering after I win the lotto or become successful .

Reply #23

savagegoose — Mon, 08 Feb 2016 13:05:08 GMT

i used to say i would have a pocket full of active $1 tickets, well $2 for pb now, to gove one to anyone asking for money.

I have revised that now, that i realise there sre some people, the chance of them actually winning would annoy me too much.

Reply #22

GatorShea — Mon, 08 Feb 2016 01:14:15 GMT

Well, they would still hate you but for other reasons. They would say that you are not deserving of your fortunes. Regardless, you could tell them to pipe down and fan them with money.

Reply #21

maoer! — Mon, 08 Feb 2016 00:54:56 GMT

i would rather hit the Lotto jackpot as i am being looked down for many years just because I live in low salary. My cousins make fun of my poverty. My parents don't want me show up in family event as they yell at me such as you are loser! i have no friends. I never get married. For many times, i have no money to pay medical bills. Yep, i would rather win big money even i would die earlier.

Reply #20

savagegoose — Sun, 07 Feb 2016 21:36:37 GMT

thanks coin toss. after looking at the world wide lotteries, i have come to the conclusion australia does have one of the best systems out there.

Reply #19

GatorShea — Sun, 07 Feb 2016 21:17:59 GMT

How many people spend dollars every month on cigarettes, booze, dvds, etc? Yeah, you could also invest that money as well and have more in the long run than you do smoking it or chugging it away. It always seems like for every person that enjoys the lottery as entertainment and a dream, there are others that try to discourage you from it while they spend their money on other frivolous things. Also, I don't think Tony Robbins has to worry about money like many of us. So, it is easy for him to sit... [ More ]

Reply #18

ohiopick3 — Sat, 06 Feb 2016 02:08:26 GMT

Win it first, decide afterwards what you want to do. That's the formula.

If you do not want to win , do not play? Saint Patrick's Day soon

Reply #17

Candy-Lane — Sat, 06 Feb 2016 01:47:26 GMT

I'd rather win either pb or mm jackpot

Reply #16

Coin Toss — Sat, 06 Feb 2016 01:07:10 GMT

savagegoose,

From everything I've learned here at LP about the Australian lottery yours has ours beat all the way around.

Reply #15

LiveInGreenBay — Fri, 05 Feb 2016 21:21:25 GMT

Yea, thank God I didn't win the powerball....

Reply #14

savagegoose — Fri, 05 Feb 2016 15:50:51 GMT

here in aust. although its said there is no tax. the tax is actually paid at point of purchase, so everyone pays the tax so the winner doesnt. its a 1/11th gambling tax. soo big gov is still getting their money. and we all dream of being the winner. and all in all 9% is better than %39

Reply #13

jjtheprince — Fri, 05 Feb 2016 15:28:10 GMT

That's exactly right. Bernie Sanders would tax everyone at 90%, not just the rich but everyone, even welfare recipients lol.

I still say there should be zero taxes on all lotteries.

Reply #12

pickone4me — Thu, 04 Feb 2016 22:50:05 GMT

Finally something reasonable posted, however I didn't know we were allowed to copy and paste off another webpage. #5 doesn't apply to me. #6 The democrats will have your pockets emptied if people vote for a democrat a 3rd time.

Reply #11

jjtheprince — Thu, 04 Feb 2016 22:36:33 GMT

I'd rather win lol. Reading this board and other resources on the internet have taught me that if you remain fairly frugal after winning, do your best to stay anonymous, know how to say NO, hire the right individuals to help you (attorneys, accountants, wealth managers), etc that you should be OK.

Notice I said hire the RIGHT individuals, not the doofus attorney the TN Powerball winners hired that told them Yes! Go on the Today show, go on the Ellen show, get on the cover of People magazine... [ More ]

Reply #10

mikeintexas — Thu, 04 Feb 2016 20:51:05 GMT

Well, I do agree in theory because I think for every bad story, there are a hundred - or many more - good ones. The media knows that a story of someone who lost it all grabs more attention than a story about someone who took their win and used it wisely. ( If it bleeds, it leads. ) I also think that 65% figure of all lottery winners go bankrupt is numerical fiction. I've seen a 70% number tossed around, and IF the article cites a source, it's attributed to a National Endowment for Financial Educ... [ More ]

Reply #9

crazyjaney — Thu, 04 Feb 2016 19:43:41 GMT

And for every the lottery ruined my life story, there is a story where the lottery was a huge blessing. I chalk the focus on the lottery tales of woe up to jackpot envy . We just don't hear about the happy winners after they fade from the limelight. Not everyone is a trainwreck and most I believe are capable of managing a large win with some discipline :).

Reply #8

crazyjaney — Thu, 04 Feb 2016 19:38:10 GMT

Quite frankly I've lost more money with some of my hair brained stock market speculation schemes (iron condors) than I have playing the lotto. That is sad I know. Lol. Most of my investments are very conservative these days after getting burnt badly. Women are supposed to make good investors because we don't argue with the market . Lol. Not this girl. So I get my speculative rocks off by playing the lottery and dump the majority of my money in boring etfs.

Reply #7

crazyjaney — Thu, 04 Feb 2016 19:36:16 GMT

I call BS on all of these. All except the spouse one maybe. I don't know. Marriage is not for me! Lol Tried it twice and am happier single. Lol.

I save, save for my retirement and my kids education and invest and still play the lotto. So the rest of that list is bunk in my opinion. I've never tried drugs lol so I wouldn't worry about that either. I'll live on the edge and take my chances winning the jackpot

Reply #6

bigbear29 — Thu, 04 Feb 2016 19:19:12 GMT

I would rather hit the PB.

Reply #5

travelintrucker — Thu, 04 Feb 2016 18:58:32 GMT

BS. However, you CAN save, invest, and still play the lottery. You could say lotto is the speculative part of the portfolio.

Reply #4

savagegoose — Thu, 04 Feb 2016 07:04:18 GMT

Ok ill take that challenge. , drug addictions, suicides, miserable, broke , frivolous law suits and friends and family that hate me! bring it on. but yea. anonymous it is then. maybe i could avoid all that drama.

Reply #3

IJustWannaWin — Thu, 04 Feb 2016 02:56:41 GMT

Hello everyone! first time poster.

To quote puff daddy, mo money mo problems. But if you notice he never offered to not be rich either lol. I'd take my chances and I acknowledge that I couldn't live quite my normal life...and I'm ok with that.

Reply #2

TheMeatman2005 — Thu, 04 Feb 2016 01:57:19 GMT

There are some good points in your post, but I will still take my chances at winning.

There was one thing I noticed that was wrong and that is in #6

6. You don't want to go broke.

Say what? The whole point of winning the lottery is to become wealthy, right? For most people, it doesn't work out that way. In fact, 65 percent of lottery winners wind up in bankruptcy. It's easy to see why. Winning the lottery is a temptation to lavish overspending. At the same time, friends, relatives, and... [ More ]

Reply #1

Dreaming Gemini — Thu, 04 Feb 2016 01:53:09 GMT

I'm still not glad I didn't win.

Lottery winnings are taxable income, usually taxed in the highest tax bracket of 39.6 percent. But instead of withholding taxes the way an employer would, the government only takes 25 percent of the full taxes owed at the time of payout... You'll have to pay the other 75 percent at tax time

Their taxing 25% up front, which is roughly 63% of the 39.6%. So you will owe 37% of the total tax at tax time.... Still wish I had that problem.... [ More ]

7 reasons to be glad you didn't hit the PB

Coin Toss — Thu, 04 Feb 2016 01:01:17 GMT

1. You like your hometown.

Many lottery winners move to a new community because they can suddenly afford to live in a more expensive neighborhood or town. But others, who like where they live, find they have to leave anyway after they become instant celebrities with desperate people waiting outside their door asking for money or investment. This likely wouldn't happen--or not as much--if you had a different sort of windfall such as an inheritance. But anyone who's ever plunked down the price... [ More ]