If and when you did win a jackpot...Would you ever finance anything ever again??Prev TopicNext Topic

• four4me

  

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  Feb 22, 2014, 4:25 am

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  In response to Shelby Mustang

  Quote: Originally posted by Shelby Mustang on Feb 20, 2014

  So you win a nice size jackpot. Let's say 100 million before taxes. do you see yourself ever financing anything ever again or would you just pay cash for everything there on out? Me personallly it depends on what it was and how big the part Im financing would be. I know there a billionaires who finance some particular purchases, so it doe happen, but would you do it? Why or why not?

  if I were to open a restaurant or carwash franchise I might consider this option.

  Big John says. You don't hit the number. The number hits you!!!!

                 I'm not Big John, I'm Four4me, Big John's a friend.
• Shelby Mustang

  

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  Feb 22, 2014, 7:20 am

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  In response to Mattapan

  Quote: Originally posted by Mattapan on Feb 21, 2014

  This confuses the hell out of me all the time. You see all the hollywood stars who've made money, yet you still hear about how their houses are facing foreclosure!? Are you kidding me? If you make a couple of million per film, you can't buy a home in cash? (i.e. nick cage). I would never finance if I don't have to. I try to pay everything in cash now as I hate using credit cards/debit cards.

  Now I dont use credit cards unless I can pay off the balance at the end of the month, I hate carrying a balance. Now my debit card, I use that all the time I hardly ever carry cash anymore other than a few dollars for the lottery. I mean I dont even have to balance a check book anymore, I havent had to in 10 yrs, I dont even write checks anymore.
• Piaceri

  

  Republic of Texas
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  Feb 22, 2014, 9:02 am

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  In response to Jon D

  Quote: Originally posted by Jon D on Feb 21, 2014

  The reason is:

  Talented people are often not good with money.

  That's why celebrities and athletes need financial people around to protect them, often from themselves. Many times this fails. They often try to live beyond their means, living a lifestyle far and above their level of income.

  That's part of the reason for the economic mess we're still recovering from now, people living beyond their means, using financing for houses, education, etc, far and above their level of income.

  Rich people don't do that. The rich are frugal and live within their means. And like Toronto said, they typically only use financing as leverage for economic or business benefit, NOT to buy something for themselves far beyond their means.

  Many lottery winners are poor people and carry their bad habits of living beyond their means after a big win. That's why so many go broke in a few years, no matter how many millions they've won.

  This.

  Plus, if you can borrow for less than you are earning on your investments, then borrowing for business reasons is probably not a bad idea. But to borrow for personal luxuries is not wise.

  

  singlewinnersinglewinnersinglewinner   
  
• psykomo

  

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  Mar 23, 2014, 8:56 pm

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  In response to Shelby Mustang

  Quote: Originally posted by Shelby Mustang on Feb 20, 2014

  So you win a nice size jackpot. Let's say 100 million before taxes. do you see yourself ever financing anything ever again or would you just pay cash for everything there on out? Me personallly it depends on what it was and how big the part Im financing would be. I know there a billionaires who finance some particular purchases, so it doe happen, but would you do it? Why or why not?

  SBM:

  WE NEED A POLL>>>>ON>>>dis WON!!!!!

                         
• river26

  

  new jersey
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  Mar 23, 2014, 9:03 pm

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  I WOULD  FINANCE ANYTHING  WHERE  I  CAN GET   0% FINANCING,    WHY?  THEN  I  GET  INTEREST  ON MY  MONEY, PLUS THE  MORE  U HAVE  THE  MORE  YOUR  WORTH  NET   ASSETS,
• river26

  

  new jersey
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  Mar 23, 2014, 9:05 pm

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  ALWAYS  TRY  TO  USE   OTHERS   MONEY   TO  MAKE  MORE  MONEY   FOR  YOURSELF
• psykomo

  

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  Mar 23, 2014, 9:29 pm

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  In response to psykomo

  Quote: Originally posted by psykomo on Mar 23, 2014

  SBM:

  WE NEED A POLL>>>>ON>>>dis WON!!!!!

                         

  thank you>>>>>SHELBY MUSTANG>>>>>we need a POST from U>>>>>>fast cars'sssssson Lottery POST!!!

  Psyko can't gett^gat^>>my SMART>>>>>batterieYET....fast car 4D 300 YARD'ssss!!!GO>FAST>CAR's!!

                                                                           
• Drenick1

  

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  Mar 24, 2014, 8:37 am

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  Only to start a business, everything else would be paid in full.