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Is less best? $93 million vs $10 million

Topic closed. 23 replies. Last post 11 years ago by sagan.

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Blaine WA
United States
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June 15, 2005
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Posted: August 21, 2005, 2:46 pm - IP Logged

at 4% interest $18,000 per day means a investment of about $180,000,000

if the math and interest are correct not making allowance for taxes.

so is that the amount he won?

the odds do not mean much to those who win the jackpot

    four4me's avatar - gate1
    MD
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    June 18, 2003
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    Posted: August 21, 2005, 3:35 pm - IP Logged

    Chewie and sagan here is a link to the story of the winner. the guys name is David Edwards

    http://archives.cnn.com/2001/US/08/27/powerball/

    Now how he went about his investments and when or what he did to earn the 18,000 a day interest is a good question. All i know is thats what he said during the show towards the end. It might have been the history channel. this story about the lottery winners has aired 20 times or more. you will have to keep and eye out for it in the future. kinda boring but also kinda interesting too. In the televised story they bounce back and forth with the various winners and what they have been doing since they won. The show is on the learning channel i knew it was one of them pardon this old mans brain far.!

    Here is the lottery post link to the story

    http://www.lotterypost.com/news/109083.htm

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      Blaine WA
      United States
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      Posted: August 21, 2005, 3:50 pm - IP Logged

      thanks four

      i have seen the show twice, the guy seemed such a blowhard, the numbers became curious to me.

      he might be exaggerating the numbers

      $18,000 is really a large amount, what about taxes, attorney and advisor fees

      the odds do not mean much to those who win the jackpot

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        New Mexico
        United States
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        March 10, 2005
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        Posted: August 21, 2005, 4:03 pm - IP Logged

        Talk about money management!  Yes, all of us (with rare exception) were in a 'hee-haw' about the $93 million dollar lottery.  Of course, with applicable taxes, approximately $53 million dollars, a nice and tidy take home payday! 

        Think for a moment, some people refuse to play the lottery unless it is $50 million dollars or more.  For them, the more money, the merrier.  For me, $10 million dollars is quite adequate. 

        Sometimes I wonder...why are people so greedy?  If most people are finding it difficult to manage their bi-weekly salaries, how could they manage $53 million dollars?  Yes, I am aware of lawyers, accountants, and financial advisers.

        As far as money management is concerned, it seems $53 million (after taxes), although a plush portfolio for any banker to visualize -- with or without glasses -- is a financial abomination for most consumers to digest and regurgitate...over-and-over, again.

        Finally, with prospects of even a $200 million or more jackpot payout in the future, players' emphasis should be on quality of life and not necessarily quantity (larger payouts.)   

        If the newspaper reports in New Mexico were accurate,  $93 million was $36 million lump sum after taxes.  Probably that translates to a $10 million jackpot being roughly $4 million after taxes.

        $4 million is a hefty enough sum to be inviting.  Certainly nothing to complain about.  I've no doubt I could live the remainder of my life on that amount.

        On the other hand, a younger person, or one who want's to live in higher style than I'd wish for might think it was too paltry to bother buying a ticket for.

        After learning that $93 M equals $36 M I'd say I'll continue playing Powerball, but buying a lot fewer tickets than I've done in the past, doing a lot less work on it, putting my efforts into lotteries where there's the possibility of a better return.

        Each to his own.

        Jack

        Absorb the good, ignore the bad, weigh the ugly.

        It's about number behavior.

        Egos don't count.

         

        Dedicated to the memory of Big Loooser

         

          four4me's avatar - gate1
          MD
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          Posted: August 21, 2005, 4:09 pm - IP Logged
          A lot of what he has done with his winnings are very dependant on his investments he could have easily invested 5 or 10 million and be making a killing he went to new york or they came to him because he was afraid to fly and his investment firm is the key to his continued success with his investments. A person would almost have to be a stock marked annalist to handle his investment portfolio by himself and continue to live the lifestyle he does. I didn't particularly care for some of the junk he has purchased but then again it wasn't my money he spent. Any way I've had dreams of building my own place and living the lap of luxury so i hope i might join the waterfront community of Boca Raton one day. Or the gulf of Mexico.
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            Sparta, NJ
            United States
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            July 9, 2005
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            Posted: August 21, 2005, 4:35 pm - IP Logged

            Chewie and sagan here is a link to the story of the winner. the guys name is David Edwards

            http://archives.cnn.com/2001/US/08/27/powerball/

            Now how he went about his investments and when or what he did to earn the 18,000 a day interest is a good question. All i know is thats what he said during the show towards the end. It might have been the history channel. this story about the lottery winners has aired 20 times or more. you will have to keep and eye out for it in the future. kinda boring but also kinda interesting too. In the televised story they bounce back and forth with the various winners and what they have been doing since they won. The show is on the learning channel i knew it was one of them pardon this old mans brain far.!

            Here is the lottery post link to the story

            http://www.lotterypost.com/news/109083.htm

            Thanks from my side also. I seem to remember the show. The CNN links were interesting. Too bad the video links were gone. Whether is is $10K a day, or $18K a day, that is a lot of toys, travel, and just plain comfortable living. He won't be worrying about any fuel oil or gasoline prices. Be nice to have enough to have the gasoline trucks come to your house to fill your car!

             

            Cheers

            |||::> *'`*:-.,_,.-:*''*:--->>> Chewie  <<<---.*''*:-.,_,.-:*''* <:::|||

            I only trust myself - and that's a questionable choice


              United States
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              June 22, 2005
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              Posted: August 21, 2005, 4:57 pm - IP Logged

              There is no way I can live on $18,000 a day. Are you kidding me. After rent...insurance...food...bad habits.....family.....friends.......charities........taxes......inflation....travel......plastic surgery.....saving the whales.....

              there's no way.

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                United States
                Member #1826
                July 11, 2003
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                Posted: August 24, 2005, 1:58 am - IP Logged

                I still think the thread starter didn't know what he was talking about. Sure $10,000,000 would be great prize. I just don't want to spend any money on a 1 in 120,000,000 chance to get it. 1 in 25,000,000 would even be pushing it.

                "Why are people so greedy?" Roll Eyes More like, "Why are so people so oblivious to the odds of winning?".

                (insert signature here)

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                  Blaine WA
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                  Posted: August 25, 2005, 5:00 pm - IP Logged

                  i guess if i had to i would take any winnings

                  i buy a ticket no matter the prize for MM even a $10 mill pot would increase my lifestyle enough. my thinking is you cannot win if you do not have a ticket and it may be the only time you will win is when the jackpot is the smallest or has multiple winners

                  not sure i made the point very good here

                  the odds do not mean much to those who win the jackpot