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Money Matters: Sudden wealth advice

Topic closed. 80 replies. Last post 7 years ago by Dollar419.

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Lucky Loser's avatar - bucks
Texas
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January 30, 2010
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Posted: April 15, 2010, 11:57 pm - IP Logged

DisapproveThis thread went WAY OFF TOPIC.

Sorry about that, Tenaj. I shouldn't have even fed into it. You're right.

L.L.

    rdgrnr's avatar - walt
    Way back up in them dadgum hills, son!
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    Posted: April 16, 2010, 12:09 am - IP Logged

    Sorry about that, Tenaj. I shouldn't have even fed into it. You're right.

    L.L.

    Talk about feeding into something, G-D! Lenin called it right. Useful idiots.

    You can be a hang-around-the-fort-indian if you so choose or a latter day "loyalist" to King George but there are still a few men (and women) in this country who will not surrender one day of liberty or freedom to the whims of some community organizing socialist from Chicago.

    We will grovel for nobody! We'll surrender our freedom to no man! EVER!   


                                                 
                         
                                             

     

     

     

     

                                                                                                       

    "The only thing necessary for evil to triumph is for good men to do nothing"

                                                                                                --Edmund Burke

     

     

      Coin Toss's avatar - shape barbed.jpg
      Zeta Reticuli Star System
      United States
      Member #30470
      January 17, 2006
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      Posted: April 16, 2010, 12:13 am - IP Logged

      Consider this fokks:

      THE HISTORY CIRCLE

      This memorable quotation is from Sir Alex Fraser Tytler (1742-1813). Scottishjurist and historian, he was widely known in his time and was professorof Universal History at Edinburgh University in the late 18th century.

      The quotation is from the 1801 collection of his lectures.

      "Ademocracy cannot exist as a permanent form of government. It can onlyexist until the voters discover that they can vote themselves largessfrom the public treasury. From that time on the majority always votesfor the candidates promising the most benefits from the publictreasury, with the results that a democracy always collapses over loosefiscal policy, always followed by a dictatorship."

      That is why our forefathers founded the United States of America as a REPUBLIC, not a DEMOCRACY.

      The average age of the world's great civilizations has been 200 years. These nations have progressed through this sequence:

      from bondage to spiritual faith;
      from spiritual faith to great courage;
      from courage to liberty;
      from liberty to abundance;
      from abundance to selfishness;
      from selfishness to complacency;
      from complacency to apathy;
      from apathy to dependency;
      from dependency back again to bondage.

      Those who run the lotteries love it when players look for consistency in something that's designed not to have any.

      Lep

      There is one and only one 'proven' system, and that is to book the action. No matter the game, let the players pick their own losers.

        rdgrnr's avatar - walt
        Way back up in them dadgum hills, son!
        United States
        Member #73904
        April 28, 2009
        14903 Posts
        Offline
        Posted: April 16, 2010, 12:22 am - IP Logged

        Consider this fokks:

        THE HISTORY CIRCLE

        This memorable quotation is from Sir Alex Fraser Tytler (1742-1813). Scottishjurist and historian, he was widely known in his time and was professorof Universal History at Edinburgh University in the late 18th century.

        The quotation is from the 1801 collection of his lectures.

        "Ademocracy cannot exist as a permanent form of government. It can onlyexist until the voters discover that they can vote themselves largessfrom the public treasury. From that time on the majority always votesfor the candidates promising the most benefits from the publictreasury, with the results that a democracy always collapses over loosefiscal policy, always followed by a dictatorship."

        That is why our forefathers founded the United States of America as a REPUBLIC, not a DEMOCRACY.

        The average age of the world's great civilizations has been 200 years. These nations have progressed through this sequence:

        from bondage to spiritual faith;
        from spiritual faith to great courage;
        from courage to liberty;
        from liberty to abundance;
        from abundance to selfishness;
        from selfishness to complacency;
        from complacency to apathy;
        from apathy to dependency;
        from dependency back again to bondage.

        Exactly, CT.

        And hopefully this generation is wise enough to take counsel from that.

        It's hard overcoming that dependency crowd with their hands out though, especially when the crooks in power keep expanding their numbers and the useful idiots back them up.


                                                     
                             
                                                 

         

         

         

         

                                                                                                           

        "The only thing necessary for evil to triumph is for good men to do nothing"

                                                                                                    --Edmund Burke

         

         

          Lucky Loser's avatar - bucks
          Texas
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          Posted: April 16, 2010, 12:28 am - IP Logged

          Talk about feeding into something, G-D! Lenin called it right. Useful idiots.

          You can be a hang-around-the-fort-indian if you so choose or a latter day "loyalist" to King George but there are still a few men (and women) in this country who will not surrender one day of liberty or freedom to the whims of some community organizing socialist from Chicago.

          We will grovel for nobody! We'll surrender our freedom to no man! EVER!   

          LOL Calm down, buddy. It ain't that serious, okay. We're only talking here...not fighting. No need to have a cyber heart attack over any of this as it's not going to change anything. Let's just talk numbers and lotto, eh? I made some money today on this deal. How 'bout you?

           

          L.L.

            rdgrnr's avatar - walt
            Way back up in them dadgum hills, son!
            United States
            Member #73904
            April 28, 2009
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            Posted: April 16, 2010, 12:42 am - IP Logged

            LOL Calm down, buddy. It ain't that serious, okay. We're only talking here...not fighting. No need to have a cyber heart attack over any of this as it's not going to change anything. Let's just talk numbers and lotto, eh? I made some money today on this deal. How 'bout you?

             

            L.L.

            IDK, I haven't checked yet. Been drivin' and gatherin' with my brothers all day and tryin' to knock people's teeth out with a woman on my back. It was different. Just relaxin' with Jack right now.


                                                         
                                 
                                                     

             

             

             

             

                                                                                                               

            "The only thing necessary for evil to triumph is for good men to do nothing"

                                                                                                        --Edmund Burke

             

             

              Lucky Loser's avatar - bucks
              Texas
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              Posted: April 16, 2010, 12:45 am - IP Logged

              IDK, I haven't checked yet. Been drivin' and gatherin' with my brothers all day and tryin' to knock people's teeth out with a woman on my back. It was different. Just relaxin' with Jack right now.

              I understand...it'll get better. We can ALL AGREE WITH JACK!!! And, I know that's right!!! Have a shot for me!!

               

              L.L.

                rdgrnr's avatar - walt
                Way back up in them dadgum hills, son!
                United States
                Member #73904
                April 28, 2009
                14903 Posts
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                Posted: April 16, 2010, 12:47 am - IP Logged

                I understand...it'll get better. We can ALL AGREE WITH JACK!!! And, I know that's right!!! Have a shot for me!!

                 

                L.L.

                Well alrighty then. Will do.


                                                             
                                     
                                                         

                 

                 

                 

                 

                                                                                                                   

                "The only thing necessary for evil to triumph is for good men to do nothing"

                                                                                                            --Edmund Burke

                 

                 

                  dr65's avatar - black panther.jpg
                  Pennsylvania
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                  Member #74096
                  May 2, 2009
                  22861 Posts
                  Online
                  Posted: April 16, 2010, 11:14 am - IP Logged

                  IDK, I haven't checked yet. Been drivin' and gatherin' with my brothers all day and tryin' to knock people's teeth out with a woman on my back. It was different. Just relaxin' with Jack right now.

                  lol rdgrnr!!

                  Here's wishing everyone a big win whether they play a handful of numbers or hundreds.

                  Get 'em good!


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                    Posted: April 16, 2010, 11:49 am - IP Logged

                    I'm trying really hard to come up with concrete examples of how this administration is so very 'different' from the three or four that came before it.

                     

                    Were you really so delighted with the eight years that preceeded the 'community organizing socialist from Chicago'?

                      Coin Toss's avatar - shape barbed.jpg
                      Zeta Reticuli Star System
                      United States
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                      January 17, 2006
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                      Posted: April 18, 2010, 5:25 pm - IP Logged

                      I'm trying really hard to come up with concrete examples of how this administration is so very 'different' from the three or four that came before it.

                       

                      Were you really so delighted with the eight years that preceeded the 'community organizing socialist from Chicago'?

                      To get back to lotto, and answer your question, YES! For one thing, during those eight years I didn't have any paranoia about hitting a jackpot and having the "community organizing socialist from Chicago" taking most of it.

                      "The problem with sociliasm is eventually you run out of other people's money".

                      - Margaret Thatcher

                      Those who run the lotteries love it when players look for consistency in something that's designed not to have any.

                      Lep

                      There is one and only one 'proven' system, and that is to book the action. No matter the game, let the players pick their own losers.

                        THRUST's avatar - f35l

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                        Posted: April 18, 2010, 5:41 pm - IP Logged

                        Here are 10 questions the CFP board suggests you ask your prospective planner before you sign on the dotted line:

                         

                        1. How much experience do you have? 
                        2. What are your qualifications? 
                        3. What services do you offer? Do you sell stocks, mutual funds and other financial products? Do you sell life insurance? Financial planners are generally barred from selling insurance or securities without the proper licenses and cannot give clients investment advice unless they are registered with state or federal authorities.
                        4. What is your approach to financial planning? Will you make recommendations and then bring in other professionals to execute them or will you help me buy the stocks, bonds and life  insurance  policies I need? Make sure the planner’s investment approach matches your own financial goals and objectives and is not too cautious or overly aggressive.
                        5. Will you be the only person working with me? Do you have other people in the office that will assist you? If your planner works with attorneys, accountants or life insurance agents to implement his plans, be sure to get a list of names and check their backgrounds.
                        6. How will I pay for your services? Some planners charge an hourly fee or monthly retainer. Other planners charge a fee equivalent to a percentage of the client’s assets they have under management. Others charge you nothing but earn a commission from sales of life insurance,mutual funds  and other products.
                        7. How much do you typically charge? Can you give me an estimate of how much my costs will be? These costs should include the planner’s hourly rates, asset management fees and any commissions he is likely to receive from the products that he sells you. 
                        8. Could anyone besides me benefit from your recommendations?If your planner receives commissions from product sales or referral fees from other companies or professionals who send him business, make sure that he fully discloses these potential conflicts of interest.
                        9. Have you ever been disciplined for any unlawful or unethical actions in your professional career? What government agencies and/or professional regulatory bodies (the  Securities  and  Exchange Commission, FINRA, the CFP Board, etc.) are you governed by? Contact these organizations to conduct a thorough background check.
                        10. Can I have it in writing? Ask the planner to provide you with a written agreement detailing the services to be provided. Keep it in your files for future reference.

                        Most importantly, “Sit down and talk with your financial planner before you start to do business,” Blayney says. “I am still stunned at the number of [Bernie] Madoff clients who never, in fact, met the guy.”

                         

                        from here... http://www.entrepreneur.com/money/article201860.html

                        $1,000,000

                          ca-dreamin*'s avatar - Lottery-065.jpg
                          Chicago
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                          February 8, 2009
                          889 Posts
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                          Posted: April 18, 2010, 8:06 pm - IP Logged

                          Here are 10 questions the CFP board suggests you ask your prospective planner before you sign on the dotted line:

                           

                          1. How much experience do you have? 
                          2. What are your qualifications? 
                          3. What services do you offer? Do you sell stocks, mutual funds and other financial products? Do you sell life insurance? Financial planners are generally barred from selling insurance or securities without the proper licenses and cannot give clients investment advice unless they are registered with state or federal authorities.
                          4. What is your approach to financial planning? Will you make recommendations and then bring in other professionals to execute them or will you help me buy the stocks, bonds and life  insurance  policies I need? Make sure the planner’s investment approach matches your own financial goals and objectives and is not too cautious or overly aggressive.
                          5. Will you be the only person working with me? Do you have other people in the office that will assist you? If your planner works with attorneys, accountants or life insurance agents to implement his plans, be sure to get a list of names and check their backgrounds.
                          6. How will I pay for your services? Some planners charge an hourly fee or monthly retainer. Other planners charge a fee equivalent to a percentage of the client’s assets they have under management. Others charge you nothing but earn a commission from sales of life insurance,mutual funds  and other products.
                          7. How much do you typically charge? Can you give me an estimate of how much my costs will be? These costs should include the planner’s hourly rates, asset management fees and any commissions he is likely to receive from the products that he sells you. 
                          8. Could anyone besides me benefit from your recommendations?If your planner receives commissions from product sales or referral fees from other companies or professionals who send him business, make sure that he fully discloses these potential conflicts of interest.
                          9. Have you ever been disciplined for any unlawful or unethical actions in your professional career? What government agencies and/or professional regulatory bodies (the  Securities  and  Exchange Commission, FINRA, the CFP Board, etc.) are you governed by? Contact these organizations to conduct a thorough background check.
                          10. Can I have it in writing? Ask the planner to provide you with a written agreement detailing the services to be provided. Keep it in your files for future reference.

                          Most importantly, “Sit down and talk with your financial planner before you start to do business,” Blayney says. “I am still stunned at the number of [Bernie] Madoff clients who never, in fact, met the guy.”

                           

                          from here... http://www.entrepreneur.com/money/article201860.html

                          Thanks for sharing THRUST! This is another good article to go along with the one Coin Toss posted.

                          I especially like # 8!  This was the reason I said to check out more than one financial planner/advisor. I've read that some planners are more interested in their own profits versus how much you will profit.

                          This just reminded me of an article I read on MSN.com awhile back. The article was about retired people who had their life savings invested with H & R Block ( I thought they were only for income taxes LOL) Anyway these people were LOSING money because of various monthly fees and these people weren't even aware.

                          I think not only do you need to find someone who has your best interests in mind but also you need to keep an eye on what they are doing.

                            hearsetrax's avatar - 0118

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                            Posted: April 19, 2010, 1:11 pm - IP Logged

                            Yes Nod


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                              Posted: April 20, 2010, 10:51 am - IP Logged

                              To get back to lotto, and answer your question, YES! For one thing, during those eight years I didn't have any paranoia about hitting a jackpot and having the "community organizing socialist from Chicago" taking most of it.

                              "The problem with sociliasm is eventually you run out of other people's money".

                              - Margaret Thatcher

                              Oh, please.

                              If you won the MM tonight or the PB tomorrow, you're take-home after taxes deducted would be basically the same as if you had won the same jackpot two years ago...or four years ago...