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Delta Draw

United States
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October 31, 2009
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Jan 30, 2010, 10:01 pm

or 'the wee dream of Rip Van Ridgerunner'

Hey,, hey,..

Look at this. Think this stuff through

http://moneycentral.msn.com/content/Banking/P43409.asp?fwlidperf=1
Raven62

25

New Jersey
United States
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June 28, 2005
180,983 Posts
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Jan 30, 2010, 10:28 pm

Quote: Originally posted by Delta Draw on Jan 30, 2010
or 'the wee dream of Rip Van Ridgerunner'

Hey,, hey,..

Look at this. Think this stuff through

http://moneycentral.msn.com/content/Banking/P43409.asp?fwlidperf=1

You've won the lottery! Now what?

Believe it or not, jackpot winners face both a pile of cash and a mountain of problematic decisions.

View the practical to-do list in the article.

You may want to keep it handy for the next time you strike it rich.

A mind once stretched by a new idea never returns to its original dimensions!

Catch-22: A dilemma or difficult circumstance from which there is no escape because of mutually conflicting or dependent conditions.

Corruptissima re publica plurimae leges: When the republic is at its most corrupt the laws are most numerous.

The best way to learn is to never stop being an Experiential Student!
sully16

25

Ringleader

Michigan
United States
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October 28, 2009
128,225 Posts
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Jan 30, 2010, 10:31 pm

Thats a good one . those are all the things people need to think about before they wake up in ice cream.
badboy00z

CA
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December 26, 2009
410 Posts
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Jan 31, 2010, 1:53 am

I want to learn more about that special bank account. What do you call it and which banks offer it?? Would it be safe to put it all into a normal savings account?

I don't see myself getting a lawyer or a financial advisor as I have a really clear idea of what I want to invest in. A lawyer will come into play in my later years when I need to decide who will inherit my money and real estate. I will definitely need an accountant to handle my taxes though.
ambelamba

Entertaiment Capital
United States
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April 19, 2006
302 Posts
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Jan 31, 2010, 2:04 am

I'll just present the ticket first and see the lawyer and the accountant after that. I am kinda impatient.
jwhou

United States
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December 13, 2009
225 Posts
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Jan 31, 2010, 2:49 am

Quote: Originally posted by Delta Draw on Jan 30, 2010
or 'the wee dream of Rip Van Ridgerunner'

Hey,, hey,..

Look at this. Think this stuff through

http://moneycentral.msn.com/content/Banking/P43409.asp?fwlidperf=1

I'm not certain about the advice of the lump sum payment. True, once it's in your hands, you may be able to make better investments with it but the annuities start off from a less pessimistic base and is essentially a tax deferred investment account albeit at a modest 4% to 5% interest rate, however that interest is on pre-tax dollars so it would take a much better performing investment with the lump sum to match the long term outcome and in today's economy, 0% government bonds are considered good investments. Once you have that kind of money, you would be hard pressed to get any significant amount of it into tax deferred investments if you took it as a lump sum.

Also, there are a lot you can do to minimize your tax load given enough time to change your residence so an annuity allows you more time to arrange to avoid paying taxes on the subsequent payments while still providing plenty in the first payment to change your life.

However, with a first really big win, I would probably sign the back of the ticket and rush in to claim simply to minimize the chances of something really stupid happening like losing the ticket or getting it eaten by a dog. Basically I would want to lock in oh so rare opportunity of financial security whatever the cost in anonymity.

The MM winner from last night was bought in Katy, TX literally down the street from where I bought my non-winning ticket. I wonder how long it'll be before he shows his face to claim.
rdgrnr

100

The Hall Of The Mountain Kings Tennessee
United States
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April 28, 2009
15,378 Posts
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Jan 31, 2010, 6:58 am

Ain't it funny how the first thing you're advised to do is get a lawyer?

Ain't it funny how it's the lawyers giving you the advice to get a lawyer?

Ain't it funny how lawyers rate among used car salesmen and politicians in public opinion polls?

Nah, it really ain't that funny when you think about it.

I'm a firm believer in reality, common sense, natural law, freedom, liberty, self-determination and high-powered weaponry.

I don't need no stinkin' lawyers.
jrosina

New York,
Panama
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April 4, 2009
3,498 Posts
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Jan 31, 2010, 7:30 am

Quote: Originally posted by rdgrnr on Jan 31, 2010
Ain't it funny how the first thing you're advised to do is get a lawyer?

Ain't it funny how it's the lawyers giving you the advice to get a lawyer?

Ain't it funny how lawyers rate among used car salesmen and politicians in public opinion polls?

Nah, it really ain't that funny when you think about it.

I'm a firm believer in reality, common sense, natural law, freedom, liberty, self-determination and high-powered weaponry.

I don't need no stinkin' lawyers.

Yes rdgrnr, lawyer=liar It is hard to put trust in one!!!

forget what "they" say about you. What you say about you?...

Now, does it count??

*Jr$ina
rdgrnr

100

The Hall Of The Mountain Kings Tennessee
United States
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April 28, 2009
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Jan 31, 2010, 7:51 am

Quote: Originally posted by jrosina on Jan 31, 2010
Yes rdgrnr, lawyer=liar It is hard to put trust in one!!!

That's right rosina. They'll have to stick to ripping off grieving widows like a pack of vultures before they willingly get a nickel out of me.

The majority of our elected officials in Washington are lawyers and you can see how well they're managing that. The country is going bankrupt while at the same time they all become millionaires after getting elected. Coincidence? You decide.
jrosina

New York,
Panama
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April 4, 2009
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Jan 31, 2010, 8:00 am

Quote: Originally posted by rdgrnr on Jan 31, 2010
That's right rosina. They'll have to stick to ripping off grieving widows like a pack of vultures before they willingly get a nickel out of me.

The majority of our elected officials in Washington are lawyers and you can see how well they're managing that. The country is going bankrupt while at the same time they all become millionaires after getting elected. Coincidence? You decide.

Rd, No coincidence at all! Just think a Lawyer with your winnings..uuufff!!

forget what "they" say about you. What you say about you?...

Now, does it count??

*Jr$ina
Raven62

25

New Jersey
United States
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June 28, 2005
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Jan 31, 2010, 8:40 am

Quote: Originally posted by jrosina on Jan 31, 2010
Yes rdgrnr, lawyer=liar It is hard to put trust in one!!!

What are you saying: All the Politicians are Lawyers!

A mind once stretched by a new idea never returns to its original dimensions!

Catch-22: A dilemma or difficult circumstance from which there is no escape because of mutually conflicting or dependent conditions.

Corruptissima re publica plurimae leges: When the republic is at its most corrupt the laws are most numerous.

The best way to learn is to never stop being an Experiential Student!
MADDOG10

50

Beautiful Florida
United States
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July 18, 2004
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Jan 31, 2010, 9:23 am

Quote: Originally posted by Raven62 on Jan 31, 2010
What are you saying: All the Politicians are Lawyers!

No, but I think they have the same ciriculum. Once elected they tend to forget who got them there, and start to think of themselves. They're going to make sure they eat, before they worry about you getting something to eat...

KARMA...Has no menu. You get served what you deserve
Raven62

25

New Jersey
United States
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Jan 31, 2010, 9:49 am

Quote: Originally posted by MADDOG10 on Jan 31, 2010
No, but I think they have the same ciriculum. Once elected they tend to forget who got them there, and start to think of themselves. They're going to make sure they eat, before they worry about you getting something to eat...

What they say and what they do are two different things!

When running for Election the Candidates act on their own.

After being Elected they go to Washington and act as a group.

When in a Group (Mob Rule) the Politicians act in a manner they wouldn't otherwise act if they were acting alone.

A mind once stretched by a new idea never returns to its original dimensions!

Catch-22: A dilemma or difficult circumstance from which there is no escape because of mutually conflicting or dependent conditions.

Corruptissima re publica plurimae leges: When the republic is at its most corrupt the laws are most numerous.

The best way to learn is to never stop being an Experiential Student!
Raven62

25

New Jersey
United States
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June 28, 2005
180,983 Posts
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Jan 31, 2010, 11:10 am

Quote: Originally posted by Raven62 on Jan 31, 2010
What they say and what they do are two different things!

When running for Election the Candidates act on their own.

After being Elected they go to Washington and act as a group.

When in a Group (Mob Rule) the Politicians act in a manner they wouldn't otherwise act if they were acting alone.

Mob rule refers to: Control or government by a gang, often of violent criminals; also called Ochlocracy.

Ochlocracy is government by mob or a mass of people, or the intimidation of constitutional authorities.

As a term in civics it implies that there is no formal authority whatsoever, not even a commonly accepted view of anarchism, and so disputes are raised, contended and closed by brute force - might makes right (Police State), but only in a very local and temporary way, as another mob or another mood might just as easily sway a decision. It is often associated with demagoguery and the rule of passion over reason. It may be considered an ad hoc democracy.

One of the characteristics of a free and open society is that its people retain the right to peaceably assemble and to petition their government for the redress of grievances.

A mind once stretched by a new idea never returns to its original dimensions!

Catch-22: A dilemma or difficult circumstance from which there is no escape because of mutually conflicting or dependent conditions.

Corruptissima re publica plurimae leges: When the republic is at its most corrupt the laws are most numerous.

The best way to learn is to never stop being an Experiential Student!
ca-dreamin*

Chicago
United States
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February 8, 2009
889 Posts
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Jan 31, 2010, 12:12 pm

I think I've read this article before if not something very similar to it.

I would take the advise of looking for an accountant as well as financial adviser and lawyer. Of course I wouldn't disclose to them my new found millions and I would choose people I felt very comfortable with. Also I think you can get advise from any of these people for a fee without handing over your money.

And definitely change the phone number as well as address!

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