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Manage your winnings or have somebody else do it for you and why?

Topic closed. 26 replies. Last post 3 years ago by mypiemaster.

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New York,
Panama
Member #73078
April 4, 2009
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Posted: December 23, 2013, 7:27 pm - IP Logged

Bang HeadPeople here on LP frequently argue about the "best way to manage " lottery winnings. Would you rather manage your own winnings and lose it , or have a "team of financial advisors" manage it and lose it for you and why?Bang Head

ConfusedSince The operative word here is "LOSE"  so whats the choice again?!!!

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

Now, does it count??

 

 

*Jr$ina

    psykomo's avatar - animal shark.jpg

    United States
    Member #4877
    May 30, 2004
    5120 Posts
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    Posted: December 23, 2013, 8:59 pm - IP Logged

    I look at it like this

     

    If you were a person  that managed your own money  and done well ,  and was disciplined  ,  and  saved  , before you won........then there is a good chance you will  continue to do so after  your  win

     

    So  I  would  say  manage  it  yourself

     

    But..............( and  as    Psykomo  says ,   there is  always  a  but )  LOL 

     

    If  you were a person that ran though money as fast as you made it  , and  spent wild and never saved and were always in debt, then there is also a good chance that you will run through the winnings also  , and not be wise with it or manage it correct

     

    So for those............finding  the  " correct "   financial  adviser would  be   key  ( one  you trust and one you will listen  too )  ,  but there will be some that will not even do  that

     

    My  Dad  taught  me  ,  long ago  ,  never  live  beyond  your  means.......no  matter  what  station  you  are  at  in  your  life

     

    My friends  Grandfather taught him..........any dam  fool can make  money......but it takes a pretty smart ole ' duck  to  hold  onto  it 

     

    Both  country  wisdom  from  long  ago.........that  still  holds  true  today

              DancePartyUS FlagPartyDance

    ATEK "UR" summation of this complex question is better said than any accoutant>attorney

    money planner or banker could provide ANY BIG R small jackpot WINNER and U did it ALL 4 FREE, yes FREE

    BUT, >>>>>>>>>>>>>>>psyko can assure U and ALL who drop into one of the above listed EXPERT'$$$$

    offices and ask 4 advice on how 2 handle 50 million lottery winning'$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$

    YOUR BULL$EYE BUTT will git a big INVOICE in UR mail for SERVICE non of the above A holes provided YOU!

    YES, they know how to git YOU on D HOOK fast>>>and fill UR HEAD with a LOTTA SMOKE and MIRROR'sss!!

    (1) put all but about $1 million in T-bills keeping $1 mill cash in bank, make a deal so you can get interest

          & write draws on UR balance.

    (2) NOW the hard PART>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>!!

         (a) KEEP'n UR head CLEAR

         (b) TALKING 2 people and KEEP'g UR perspective about UR future RESPONSIBILITY in MANAGEMENT$$$

    (3) JUST like learning how to SWIM>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>!!

         (a) Time 2 git an EDUCATION

         (b) DON't skip any CLA$$E$!

     

                                                      Bat Jack-in-the-Box Bat

      psykomo's avatar - animal shark.jpg

      United States
      Member #4877
      May 30, 2004
      5120 Posts
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      Posted: December 23, 2013, 10:48 pm - IP Logged

      Bang HeadPeople here on LP frequently argue about the "best way to manage " lottery winnings. Would you rather manage your own winnings and lose it , or have a "team of financial advisors" manage it and lose it for you and why?Bang Head

      MPM:

      (1) how much RU willing 2 RISK 2 a bunch of "team of financial advisors" ?????????????????????????????

           (a) 10% of my (let them manage) 4 their estimated 20% return on my CASH some DINGO promise me!

           (b) 20% fee of my (portfolio) 4 their estimated 30% return 2 me on my CASH but, will U git what/squat

      (2) Contact:

          TEAM Todd if U WIN D BIG WON>>>>>they HELP people in DOUTout!!

                                            Big Grin AngelJack-in-the-Box Big Grin Angel


        United States
        Member #124493
        March 14, 2012
        7023 Posts
        Offline
        Posted: December 23, 2013, 11:28 pm - IP Logged

        Major lottery winnings are mostly once in a lifetime event. I can deal with it if I lost my money out of my own foolishness. Having somebody with fancy clothes and fancy title, who claims to know what he/she is doing, lose it for me, will probably bring me closer to the "big house", SUCKER!!!.

        Are you referring to Congress, or are you referring to

        Wall Street?

        Major lottery winnings with a QP are harder to deal with than a major lottery winning done with intelligent design.

        One is random and unexpected.  The other is random and expected.


          United States
          Member #124493
          March 14, 2012
          7023 Posts
          Offline
          Posted: December 23, 2013, 11:34 pm - IP Logged

          Get advice but manage it yourself.

          Just ask Nicolas Cage about that (his agent robbed him blind).

          When will I ever possibly get the chance to ask Nicolas Cage about anything?

          Now if perhaps I could speak to Mr. Coppola, than that might be different story.

          He would probably say just spend it all on movies anyway.

          Perhaps when I ask "Nick", he would say,


          "Invest your money in Lottery Post and become a system windtalker"


            United States
            Member #124493
            March 14, 2012
            7023 Posts
            Offline
            Posted: December 23, 2013, 11:40 pm - IP Logged

            ConfusedSince The operative word here is "LOSE"  so whats the choice again?!!!

            Yes its definately a quandary.

            However, if somebody else loses it, its more akin to theft.

            If you lose it your self, than you are just a dumb ass.

              savagegoose's avatar - ProfilePho
              adelaide sa
              Australia
              Member #37136
              April 11, 2006
              3300 Posts
              Offline
              Posted: December 24, 2013, 3:09 pm - IP Logged

              when i was asked a year or so ago what would I invest in , i said a couple 100 tons of silver.

               

              since then silver has prob dropped %25 %.

               

              so i think id take the dumbass option, and spend it all on physical silver still

              2014 = -1016; 2015= -1409; 2016 JAN = -106; FEB= -81; MAR= -131; APR= - 87: MAY= -91; JUN= -39; JUL=-134; AUG= -124; SEP = -123; OCT= -84  NOV=- 73 TOT= -3498

              keno historic = -2291 ; 2015= -603; 2016= JAN=-32, FEB= +12 , MAR= -86, APR = -77. MAY= -48, JUN= -29, JUL=-71; AUG = -52; SEPT= -43; OCT = +56 NOV = -33 TOT= -3297

                Astekblue's avatar - Tarlor
                Kentucky
                United States
                Member #35086
                March 12, 2006
                10374 Posts
                Offline
                Posted: December 24, 2013, 3:30 pm - IP Logged

                          DancePartyUS FlagPartyDance

                ATEK "UR" summation of this complex question is better said than any accoutant>attorney

                money planner or banker could provide ANY BIG R small jackpot WINNER and U did it ALL 4 FREE, yes FREE

                BUT, >>>>>>>>>>>>>>>psyko can assure U and ALL who drop into one of the above listed EXPERT'$$$$

                offices and ask 4 advice on how 2 handle 50 million lottery winning'$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$

                YOUR BULL$EYE BUTT will git a big INVOICE in UR mail for SERVICE non of the above A holes provided YOU!

                YES, they know how to git YOU on D HOOK fast>>>and fill UR HEAD with a LOTTA SMOKE and MIRROR'sss!!

                (1) put all but about $1 million in T-bills keeping $1 mill cash in bank, make a deal so you can get interest

                      & write draws on UR balance.

                (2) NOW the hard PART>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>!!

                     (a) KEEP'n UR head CLEAR

                     (b) TALKING 2 people and KEEP'g UR perspective about UR future RESPONSIBILITY in MANAGEMENT$$$

                (3) JUST like learning how to SWIM>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>!!

                     (a) Time 2 git an EDUCATION

                     (b) DON't skip any CLA$$E$!

                 

                                                                  Bat Jack-in-the-Box Bat

                Thanks  psykomo

                 

                And  I  agree  with  you

                 

                There  are  not  many  of  them  I   trust  either

                  RedStang's avatar - tallman zps6gf4inoc.jpg
                  NY
                  United States
                  Member #121961
                  January 21, 2012
                  3157 Posts
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                  Posted: December 24, 2013, 5:09 pm - IP Logged

                  when i was asked a year or so ago what would I invest in , i said a couple 100 tons of silver.

                   

                  since then silver has prob dropped %25 %.

                   

                  so i think id take the dumbass option, and spend it all on physical silver still

                  I was going to invest in popcorn but people stopped going to the theater.

                    Kejana48's avatar - Lottery-031.jpg
                    Lottery Dreamer
                    Hampton Roads, Virginia
                    United States
                    Member #75493
                    June 4, 2009
                    39544 Posts
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                    Posted: December 26, 2013, 5:03 pm - IP Logged

                    Bang HeadPeople here on LP frequently argue about the "best way to manage " lottery winnings. Would you rather manage your own winnings and lose it , or have a "team of financial advisors" manage it and lose it for you and why?Bang Head

                    I've been managing my own finances for years.  Why would I now turn it over to people you do not know or can trust.  Money changes people for better and worst, even professionals.  Unless you plan to go out and make a lot of nonsense purchases in an effort to part ways with your newfound riches quickly, as long as you have you money in a Bank that can insure it, you can watch it as you do now.  But, if you can't manage your finances now, then you might need to trust others.

                    Kejana

                    " Share your predictions "

                      OldSchoolPa's avatar - Lottery-057.jpg
                      Gurnee, Illinois
                      United States
                      Member #49731
                      February 12, 2007
                      917 Posts
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                      Posted: December 28, 2013, 3:17 pm - IP Logged

                      Bang HeadPeople here on LP frequently argue about the "best way to manage " lottery winnings. Would you rather manage your own winnings and lose it , or have a "team of financial advisors" manage it and lose it for you and why?Bang Head

                      Your premise is totally wrong. You assume that all winners will lose their money regardless what they do, and that simply is not true. Sure, if one is used to being broke and fails to establish an investment and spending plan, then that person will likely buy a lot of liabilities and consider them investments (that late Edwards guy comes to mind). Alternatively, a winner might employ "investment advisors" that are more focused on their own profit than what is in the best interest of the winner client. One just has to do due diligence and run the investment proposals by attorney and perhaps another investment advisor. Then, most importantly, the person needs to explicitly understand the downside and risk of any investment, and not just the potential gain And then make a calculated and educated decision since you alone will bear the consequences of said decision.

                      Get MONEY!!! Winning a JACKPOT lottery is all the HOPE and CHANGE I desire!!!  NOW give me MONEY!US Flag

                      The guy who won the presidency in 2008 really won the lottery...he is now millions richer, travels in first class style, and even has a staff that would be the envy of the richest Powerball winner (she has a staff of 2). Every night he goes to sleep, he probably plays the close of Dave Chappelle's Show: I'm rich beyatch!

                        mypiemaster's avatar - 2015021003pileofcash
                        JACKPOT HUNTER

                        United States
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                        April 2, 2013
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                        Posted: December 31, 2013, 5:47 pm - IP Logged

                        Clown When I get to the point of having enough winnings to be managed I will let you know.

                        Someone, somewhere, is in possession of a lucky Mega Millions lottery ticket worth $324 million that was purchased at a small San Jose shop on Dec. 17. You may already be at that point.

                        Seek and ye shall find -Matt. 7:7 ...Ask and ye shall receive -John 16:24 ...Give and it shall be given unto you -Luke 6:38 ...Be careful what you ask for!!! -Mypiemaster 1:1

                        Having Money Solves Problems That Not Having Money Creates Yes Nod ****John Carlton****