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I think most of the people on this forum would use their jackpot wisely, do you agree?

Topic closed. 40 replies. Last post 3 years ago by KY Floyd.

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United States
Member #122468
February 1, 2012
530 Posts
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Posted: March 3, 2014, 8:40 am - IP Logged

Hi everyone,

After being on this site  for a few years now I believe that the majority of the people on this site would use their jackpot winnings wisely. It seems that most people on here are hardworking people who just want to help their families have a secure life. Speaking for myself I'm not someone that wants to win a jackpot to buy big houses or cars or live extravagantly. Just being set for life and knowing my family would be set financially would take away a lot of day to day stress. I'd like to travel so that would probably be my biggest extravagance but otherwise just being able to use my money for good things like helping people who are in need would be great. I'd also like to set up scholarships for kids to go to college. It's amazing how the price of college has become unobtainable for so many people, or if they are able to go to college and fall in the category where they are not able to get grants or scholarships then they come out of college owing thousands of dollars for their educations.  I'd want to make sure my winnings would last. Have heard so many stories of people blowing their jackpots and then ended up the same way they were before they won. Do you agree with me that the people on this site would use their winnings wisely?

    Artist77's avatar - batman14

    United States
    Member #121745
    January 16, 2012
    4784 Posts
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    Posted: March 3, 2014, 9:25 am - IP Logged

    No, sorry but I do not agree. I think the law of averages shows that there will always be a sizable percentage of people who will not use their winnings wisely. No offense but you sound like you are trying to convince yourself why you may be more entitled to a win.

    My question to you, would winning make you happy?  I think you would still be unhappy in life and feel stressed out by  the money. I know many people with sizable college and post college debts and that is life.  Hopefully you do not assume all those debts on yourself and your college educated children are helping out in a major way. I knew one woman who got out of law school 10 years ago with $100,000 debt and she worked 60-70 hrs a week and lived at home for 4 years to pay off her debt (and she chose to work for a non-profit). I did without a car for the first 4 years after graduation when I moved to this area. I lived on peanut butter and jelly sandwiches and saved to buy my townhouse.  When there is a will, there is a way. Remember college was a choice, not an involuntary expense.

    J'aime La France.

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      United States
      Member #145267
      August 1, 2013
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      Posted: March 3, 2014, 9:33 am - IP Logged

      No I disagree, if you read some of the previous post on this site, most will lose most of their winnings.

        savagegoose's avatar - ProfilePho
        adelaide sa
        Australia
        Member #37136
        April 11, 2006
        3300 Posts
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        Posted: March 3, 2014, 10:34 am - IP Logged

        i plan o investing to avoid most of my own stupidity. hopefully thats not invested stupidly.

        <div_prefs id="div_prefs">

        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

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          United States
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          August 1, 2013
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          Posted: March 3, 2014, 10:41 am - IP Logged

          Also, try to create a budget for every year.  My budget is for 41 years with a house that is paid off, and a bank account For worst case property taxes.

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            United States
            Member #34931
            March 9, 2006
            98 Posts
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            Posted: March 3, 2014, 10:53 am - IP Logged

            Keep it simple . . bond fund investment similar to VWEAX, and make the estimated quarterly federal tax payments on the monthly dividends.

            https://www.google.com/#q=vweax

            http://www.irs.gov/uac/Form-1040-ES,-Estimated-Tax-for-Individuals-1

              CDanaT's avatar - tiger avatar_04_hd_pictures_169016.jpg
              TX
              United States
              Member #121193
              January 4, 2012
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              Posted: March 3, 2014, 11:03 am - IP Logged

              While I believe most on here would do fine because of their posts. I also see the opposite for a few, probably not doing so fine. Only time would tell. Not everyone on here has the convictions to live by their word. If you can't do that, then how can you live on a budget of finite funding ??  Just my opinion based on previous experiences. Like any opinion, I have been wrong on that belief in the past and probably will be in the future.

              While a large jackpot win would be phenomenol, a small take home after taxes of about $5 million would be perfect...4 to invest and live off the principle and 1 for house/car/toys/gifts....should work for me just "ducky". Thumbs Up

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                Portland, OR
                United States
                Member #145973
                August 20, 2013
                226 Posts
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                Posted: March 3, 2014, 11:04 am - IP Logged

                I just need $5 million dallas to pay debts, buy cars, a small mansion and start a good business.  $15 million dallas to start some type of homeless shelter for this area where I can get the homeless back on their feet supporting the shelter with the investment's interest, don't know.  Also, want to provide showers and hot meals for them (my dream come true); a place they can go and take a shower and eat.  Almost everything after that would be invested in real state, tech start-ups, precious metals, etc.  Of course $5 million dallas in cash/gold will be buried somewhere in case things really go south in this country.

                "Understand... people are more complicated than the masks they wear in society... everyone is playing to win, and some people will use moral justifications to advance their side"

                                                                                                                                                                          Robert Greene

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                  United States
                  Member #149820
                  December 9, 2013
                  644 Posts
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                  Posted: March 3, 2014, 11:43 am - IP Logged

                  Hi everyone,

                  After being on this site  for a few years now I believe that the majority of the people on this site would use their jackpot winnings wisely. It seems that most people on here are hardworking people who just want to help their families have a secure life. Speaking for myself I'm not someone that wants to win a jackpot to buy big houses or cars or live extravagantly. Just being set for life and knowing my family would be set financially would take away a lot of day to day stress. I'd like to travel so that would probably be my biggest extravagance but otherwise just being able to use my money for good things like helping people who are in need would be great. I'd also like to set up scholarships for kids to go to college. It's amazing how the price of college has become unobtainable for so many people, or if they are able to go to college and fall in the category where they are not able to get grants or scholarships then they come out of college owing thousands of dollars for their educations.  I'd want to make sure my winnings would last. Have heard so many stories of people blowing their jackpots and then ended up the same way they were before they won. Do you agree with me that the people on this site would use their winnings wisely?

                  Great question shy, I dont know, you really cant go by what people say you have to look at their actions. People always say one thing but do another, and then there are those who may want or will actually invest wisely or think they are then get swindled. You can never know for sure how things are going to turn out. I mean you could have a plan but it get blow apart then you could say youre going to buy houses and cars but then turn out to be the biggest miser on the planet. You can never tell

                    smooth11484's avatar - Lottery-053.jpg
                    ohio
                    United States
                    Member #125198
                    March 26, 2012
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                    Posted: March 3, 2014, 11:57 am - IP Logged

                    I will splurge of course. But save some

                    .

                      Jill34786's avatar - Lottery-006.jpg
                      Windermere, FL/Franklin, TN
                      United States
                      Member #50210
                      March 1, 2007
                      843 Posts
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                      Posted: March 3, 2014, 1:28 pm - IP Logged

                      I believe overall a larger percentage of LP forum members would make wiser financial decisions WHEN compared to the general public but that is where the advantage ends. It seems many LP members lack any financial background and yet feel more than capable of handling a large windfall. 

                      Without seeking any kind of legal and financial advice, I think only 15-20% of forum members would make it fine on their own.

                      ** Some people fulfill their dreams by receiving entitlements from the Government while others wake up and work hard for it! **

                        Jill34786's avatar - Lottery-006.jpg
                        Windermere, FL/Franklin, TN
                        United States
                        Member #50210
                        March 1, 2007
                        843 Posts
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                        Posted: March 3, 2014, 1:47 pm - IP Logged

                        Keep it simple . . bond fund investment similar to VWEAX, and make the estimated quarterly federal tax payments on the monthly dividends.

                        https://www.google.com/#q=vweax

                        http://www.irs.gov/uac/Form-1040-ES,-Estimated-Tax-for-Individuals-1

                        The majority of bond funds have badly lagged the returns of the overall market(Russell,NASDAQ and S&P) for the previous 5 years. Anyone seeking higher returns would have done much better having exposure in the stock market. While I believe bonds are an important element of any balanced portfolio, depending on your age it should only be a portion of your allocation.

                        Making quarterly federal tax payments is a given if anyone is self-employed or earns a substantial portion of their income through the financial market. Uncle Sam frowns on those who owe him money.

                        ** Some people fulfill their dreams by receiving entitlements from the Government while others wake up and work hard for it! **

                          Candlelight777's avatar - nw saucyelf.jpg
                          Indiana
                          United States
                          Member #150273
                          December 18, 2013
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                          Posted: March 3, 2014, 2:07 pm - IP Logged

                          Your a good soul shyguitar, i hope your dreams come true Thumbs Up

                          "Without wood a fire goes out; without gossip, conflict calms down.

                          Like adding charcoal to embers or wood to fire, quarrelsome people kindle strife."

                          Proverbs 26: 20-21

                            hearsetrax's avatar - 0118

                            United States
                            Member #52345
                            May 21, 2007
                            2657 Posts
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                            Posted: March 3, 2014, 2:11 pm - IP Logged

                            Skeptical I can neither agree nore disagree ....

                            but I know a few and many who would no doubt waste it all on a pet theory and wind up worse then when they started ,then blame it all on the curse of the lottery

                              noise-gate's avatar - images q=tbn:ANd9GcR91HDs4UJhjxO7cmeMQWZ5lB_FOcMLOGicau4V74R45tDgPWrr
                              Bay Area - California
                              United States
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                              December 12, 2012
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                              Posted: March 3, 2014, 5:27 pm - IP Logged

                              Hi everyone,

                              After being on this site  for a few years now I believe that the majority of the people on this site would use their jackpot winnings wisely. It seems that most people on here are hardworking people who just want to help their families have a secure life. Speaking for myself I'm not someone that wants to win a jackpot to buy big houses or cars or live extravagantly. Just being set for life and knowing my family would be set financially would take away a lot of day to day stress. I'd like to travel so that would probably be my biggest extravagance but otherwise just being able to use my money for good things like helping people who are in need would be great. I'd also like to set up scholarships for kids to go to college. It's amazing how the price of college has become unobtainable for so many people, or if they are able to go to college and fall in the category where they are not able to get grants or scholarships then they come out of college owing thousands of dollars for their educations.  I'd want to make sure my winnings would last. Have heard so many stories of people blowing their jackpots and then ended up the same way they were before they won. Do you agree with me that the people on this site would use their winnings wisely?

                              I think for the most part- yes. This forum has afforded all of us a front row seat into the lives of lottery winner's who had won a ton of cash only to lose it all.l think that is a sobering thought.
                              There will of course be those money morons who think their well will never dry up just as long as they spending and making their friends happy.
                              However l see a lot of savvy guys & gals here who will avoid that financial graveyard at all costs.