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False Hope is Hard to Shake Off... :(

Topic closed. 6 replies. Last post 8 years ago by CowboysFan.

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Entertaiment Capital
United States
Member #37800
April 19, 2006
302 Posts
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Posted: September 22, 2008, 3:03 am - IP Logged

 Whenever the jackpot amount of California Super Lotto gets close to 40 millions, I start having another hope. And it's not good at all.

 Even though I try to fully reject any kind of superstitious belief and supernatural worldview, I am still dominated by this hopeless....hope.

 Some of you guys might already know why I feel anxious whenever the jackpot reaches to 40 millions, if you guys have read my posts.

 You know, being 17.2 million dollars richer is no small thing, even in LA country where a good house is more than 1.5 million bucks.

 I always THOUGHT about investing in mutual funds if I won a jackpot. Well, maybe Fortune favored me a lil bit. Turns out that Mutual Funds are losing money like beheaded & bleeding chickens. Annual loss is roughly 12% average. I checked fidelity.com and I was shocked by all the losses of formerly healthy mutual funds.

 And I came to realize that Money Market is a goddamn joke. It's no viable investment solution. It's just a glorified checking account, no more, no less. So I came to realize that buying a commercial property is the only viable investment at this point. Unless the US faces another Great Depression, there will be potential tenants and I can have some steady flow of income. Robert Kiyosaki is right only if you have a ton of money to buy a lot of income properties.

 With 17.2 millions (the actual winning after tax and everything), what kind of property can I buy? No, I will give about 7% to my parents and 1.5% to each of my two sisters. Then I am left with...uh...15.48millions.

 Then let's say I buy a house in Pasadena for 1.3~1.4 millions. Or let's say I pay 1 millions for down payment and use 0.48 millions to buy personal stuff and fill up my saving and checking account. I am left with 14 millions. I am still tempted to invest some of them in mutual funds if the economy recovers...but I dunno. Gotta buy a couple of rental properties with at least 6% annual gain. (not including value appreciation)

 I would be set for life, as long as America won't go belly up and I don't make any stupid decision...

    chasingadream's avatar - Archangel 01.jpg

    United States
    Member #38687
    May 3, 2006
    315 Posts
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    Posted: September 22, 2008, 3:32 am - IP Logged

     Whenever the jackpot amount of California Super Lotto gets close to 40 millions, I start having another hope. And it's not good at all.

     Even though I try to fully reject any kind of superstitious belief and supernatural worldview, I am still dominated by this hopeless....hope.

     Some of you guys might already know why I feel anxious whenever the jackpot reaches to 40 millions, if you guys have read my posts.

     You know, being 17.2 million dollars richer is no small thing, even in LA country where a good house is more than 1.5 million bucks.

     I always THOUGHT about investing in mutual funds if I won a jackpot. Well, maybe Fortune favored me a lil bit. Turns out that Mutual Funds are losing money like beheaded & bleeding chickens. Annual loss is roughly 12% average. I checked fidelity.com and I was shocked by all the losses of formerly healthy mutual funds.

     And I came to realize that Money Market is a goddamn joke. It's no viable investment solution. It's just a glorified checking account, no more, no less. So I came to realize that buying a commercial property is the only viable investment at this point. Unless the US faces another Great Depression, there will be potential tenants and I can have some steady flow of income. Robert Kiyosaki is right only if you have a ton of money to buy a lot of income properties.

     With 17.2 millions (the actual winning after tax and everything), what kind of property can I buy? No, I will give about 7% to my parents and 1.5% to each of my two sisters. Then I am left with...uh...15.48millions.

     Then let's say I buy a house in Pasadena for 1.3~1.4 millions. Or let's say I pay 1 millions for down payment and use 0.48 millions to buy personal stuff and fill up my saving and checking account. I am left with 14 millions. I am still tempted to invest some of them in mutual funds if the economy recovers...but I dunno. Gotta buy a couple of rental properties with at least 6% annual gain. (not including value appreciation)

     I would be set for life, as long as America won't go belly up and I don't make any stupid decision...

    well it sounds like you already have a plan......and that a good thing (like martha stewart says)

    Oogle  waiting patiently for my jackpot

      GamerMom's avatar - tails

      United States
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      April 21, 2008
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      Posted: September 22, 2008, 11:38 am - IP Logged

      I totally get that way too.  I have great plans of buying up houses and turning them into rental properties.  I don't know any other investment that will return in upwards of $10,000 a month or more, depending on how many properties you have and how many tenants you have.  PLUS if you ever get tired of the real estate game you can fix them back up and sell them for a profit given you wait until the market is booming again.

       

      I play the FLorida Lottery and my birthday falls on a draw date.  Needless to say i will have LOTS of hope come this weekend *sigh*

        Guru101's avatar - rw6jhh
        Indiana
        United States
        Member #48725
        January 7, 2007
        1953 Posts
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        Posted: September 22, 2008, 12:06 pm - IP Logged

        If you're going to be giving money to family members, don't forget about the gift tax, which is currently 45%. I believe it will be dropping to 35% in 2010.

        Gonna win.Big Smile

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          Kennesaw, GA
          United States
          Member #62138
          June 18, 2008
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          Posted: September 22, 2008, 3:01 pm - IP Logged

          We all have a little false hope from time to time.  But what it all boils down to is that we want better for ourselves, and that is something that never really goes away.  Cause that one day where everything will change is very possible.  Without something to hope for we have nothing, whatever "hope" may be..Just keep exploring your options and try not to leave any stone unturned....

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            Entertaiment Capital
            United States
            Member #37800
            April 19, 2006
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            Posted: September 22, 2008, 7:10 pm - IP Logged

             Uh, no.

             I'll pick up a group claim form and write in my family members as co-winners.

              CowboysFan's avatar - Cowboys
              Sunny California
              United States
              Member #63790
              August 8, 2008
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              Posted: September 22, 2008, 7:19 pm - IP Logged

              Myturn08 you said it perfectly. We all have some sort of hope for ourselves and our families to make our lives better than they are. I believe that if it's in the cards for me to win the Super Lotto Jackpot or Mega Millions then God will make it happen for me. I believe it's all about divine intervention for anyone who wins a jackpot. I don't believe it's "false hope" because this may be your month to win the jackpot. I mean someone has to win the Superlotto Jackpot so why can't it be you or me or anyone else. Keep your head up and ALWAYS think positively about your life and also about your chances of winning the jackpot.