How Long Would You Wait?

Reply #24

music* — Sun, 10 Mar 2019 18:07:02 GMT

Power Ball lump sum after all taxes are paid is $171,171,000.00 Enjoy !!

This figure is good for States that do not tax lottery winnings like California, Texas,

In NY, NY there are more taxes to be paid.

Plus income from employment is not figured in here.

Reply #23

dallascowboyfan — Sun, 10 Mar 2019 15:31:41 GMT

Tithe

Pay off house/bills

Invest the rest for my retirement...

Reply #22

brees2012 — Sun, 03 Mar 2019 16:30:57 GMT

I would buy my hubby , his dream truck , which he deserves .

Pay off all debt and invest the rest .

Reply #21

Soledad — Tue, 05 Feb 2019 15:51:42 GMT

I hope you mean ladders with that kind of money. It d be a shame to tie up all that and not be able to capitalize if rates change. They are getting better though. Money market accounts I would definitely do. But anyways, just would be my thinking. Half minimum to these god snip ed colleges thinking that they are above inflation and getting away with it. At least another quarter like I said, and the other quarter? Heh, gone in 60 seconds :)

This post has been automatically changed by the Lott... [ More ]

Reply #20

KY Floyd — Wed, 30 Jan 2019 17:35:42 GMT

I honestly thought this was about the 1.6 billion dollar winner still not coming forward

That probably is what prompted this particular thread, given the timing. There's been plenty of discussion about the subject over the years, but I don't specifically remember another thread devoted to just that.

Reply #19

s5thomps — Wed, 30 Jan 2019 07:23:15 GMT

Amen to that Brother. My mother is doing fine because she has been frugal over the years and spent wisely. However I would love to be debt free and take care of my immediate family. I would even settle for 500,000.00 after taxes. But more is always better

Reply #18

Karen Nathan — Wed, 30 Jan 2019 07:00:36 GMT

I honestly thought this was about the 1.6 billion dollar winner still not coming forward to claim their prize after almost 4 months and asking us how long we would wait ourselves to come forward in order to claim the prize judging by how it is a given that the begging for money happens soon after the winner comes forward.

Reply #17

music* — Wed, 30 Jan 2019 04:06:06 GMT

with weshar75. You have a sensible plan. Good Luck

Reply #16

weshar75 — Wed, 30 Jan 2019 03:31:03 GMT

I want to get out of debt and get my mother out of debt too. Then buy a new car for us and invest the rest for retirement.-weshar75

Reply #15

music* — Fri, 18 Jan 2019 23:20:54 GMT

Artist77, Are you looking forward to a Springtime in Old Paris? Immerse yourself in their Culture.

Flatland that you will enjoy viewing from the Eiffel Tower. Afraid of heights?

Have yourself a grand ole time

Reply #14

Artist77 — Fri, 18 Jan 2019 21:16:05 GMT

Yes, Paris is a big city as well.

Reply #13

noise-gate — Fri, 18 Jan 2019 18:05:03 GMT

I would do what David Lee Edwards did: Purchase medieval swords as a long term investment.The demand down the road is mind boggling. That's gotta pay off in the long run..right

Reply #12

music* — Sat, 05 Jan 2019 23:40:15 GMT

Thanks for the advice. Artist77 you do know about the yellow jacket protests in Paris. There is plenty of France left to explore.

Reply #11

Artist77 — Fri, 04 Jan 2019 23:04:54 GMT

You might want to check out the reviews for Fisher investments.

Reply #10

KY Floyd — Thu, 03 Jan 2019 20:42:59 GMT

until you cash out your Enron stock.

That's one of many reason I favor conservative investments. And not putting all your eggs in one basket no matter how pretty the basket looks. At 30 or 40 you can recover if you lose 10 or 20% of your retirement funds with no chance they'll recover. As you get older a significant loss becomes much more problematic. Apple may still be a safe bet for now, but I'm seeing a lot of projections for diminishing iPhone sales. Almost anything with a lot of upside... [ More ]

Reply #9

BobP — Wed, 02 Jan 2019 11:49:31 GMT

Investing not spending does seem like the way to go as you never really lose it until you cash out your Enron stock.

Never sure about Doctors, my obese Doctor suggests I try his diet where you can eat all the protean and fat you like but no carbs or sugar, the review said; If it will eventually result in a heart attack eat it, if not, don't. Sounds good right up until the end. Mom is 98 dad died at 77 like a lottery to see where I end up in this puzzle.

BobP

Reply #8

oate — Wed, 02 Jan 2019 09:21:25 GMT

I would immediately start building the dream home I have wanted since I was a kid. Chock full secret passageways and hidden rooms, and an underground tunnel leading to another secret house.

Reply #7

Big Joey — Wed, 02 Jan 2019 06:15:23 GMT

I would use Fisher Investments to invest the principal, with a certain amount of money deposited each month for everyday living, and payment for utilities, and household living bills, telephones, television, maintenance, lawncare, etc....

Reply #6

Rexer90 — Wed, 02 Jan 2019 04:19:31 GMT

$1Million sitting in the bank would be earning about 2% interest.... That's $20k/year or a little under $400/week... minus taxes....

Reply #5

maximumfun — Wed, 02 Jan 2019 04:17:34 GMT

with the possible adjustment of paying off the student loans... ... and I would paint the house... maybe a new fence in the back...

Reply #4

KY Floyd — Tue, 01 Jan 2019 22:39:56 GMT

At an even million (or two or three) I probably wouldn't spend anything more than the after-tax income for at least a year.

My doctor keeps telling me I'm going to live to 100, and while I don't mind dying penniless I don't want to be broke for more than a couple of months before dying. Figuring the money is in a conservative investment and I want my income to go up by 3% every year, starting with only the after-tax income would let the principal dwindle to zero about the time I hit 100.

A... [ More ]

Reply #3

CDanaT — Tue, 01 Jan 2019 20:23:01 GMT

House - paid off

Vehicle - perhaps a newer model

Rainy Day fund - $25,000

Remainder - retirement account

Reply #2

TheMeatman2005 — Tue, 01 Jan 2019 20:17:38 GMT

I would invest now and start spending earnings next year.

If it was more than $1 mil, it would be another ball game.

Reply #1

Artist77 — Tue, 01 Jan 2019 18:42:03 GMT

With a million net, 875,000 would go into cds. I would not do frivolous spending but live in historic property and upgrades are always needed. Of course, and my trip to Paris. And a couple of large donations to 2 charities to offset taxes also.

How Long Would You Wait?

BobP — Tue, 01 Jan 2019 17:45:31 GMT

Here's the setup: You've won a million after taxes, the check has cleared and a cool million dollars is sitting in your bank account. You have the bragging rights of being a real millionaire and all the relatives and neighbors you've told are jealous. Here's the problem, soon as you start spending it you are no longer a millionaire you are a thousandaire with no more bragging rights then the rest of us thousandaires. How long would you wait to spend your net worth down below a million?

Bob... [ More ]