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winning the lottery and retirement

Topic closed. 30 replies. Last post 1 year ago by Funtimz.

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Warren, MI
United States
Member #149999
December 14, 2013
42 Posts
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Posted: July 8, 2015, 7:01 pm - IP Logged

All the money you spend on lottery can be saved up by time you hit retirement age, you'll have a nice stash.

 

If you spend 40 dollars a week thats $2080 a year times by 25 years thats $52,000!

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    new jersey
    United States
    Member #150815
    December 31, 2013
    513 Posts
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    Posted: July 8, 2015, 7:03 pm - IP Logged

    52000  thats  peanuts

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      Warren, MI
      United States
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      December 14, 2013
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      Posted: July 8, 2015, 7:07 pm - IP Logged

      Thats if you spend only $40 a week, I know some people that spend 200 a week thats $10,400 a year or $260,000 in 25 years 

        ThatScaryChick's avatar - x1MqPuM
        Idaho
        United States
        Member #56506
        November 21, 2007
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        Posted: July 8, 2015, 7:12 pm - IP Logged

        Or do both. Put money in your savings and play the lottery.

        "No one remembers the person who almost climbed the mountain, only the person who eventually gets to the top."

          ESR54's avatar - Lottery-044.jpg
          BRONX N.Y.10459
          United States
          Member #86575
          February 6, 2010
          1057 Posts
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          Posted: July 8, 2015, 7:29 pm - IP Logged

                     I Agree!    Thank  for the Info.

            noise-gate's avatar - images q=tbn:ANd9GcR91HDs4UJhjxO7cmeMQWZ5lB_FOcMLOGicau4V74R45tDgPWrr
            Bay Area - California
            United States
            Member #136477
            December 12, 2012
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            Posted: July 8, 2015, 7:42 pm - IP Logged

            All the money you spend on lottery can be saved up by time you hit retirement age, you'll have a nice stash.

             

            If you spend 40 dollars a week thats $2080 a year times by 25 years thats $52,000!

            So D : How much have you put away in your savings acct & played during your year and a half and between your 22 posts? - Be Truthful,  lottery members can detect deceit.

            People who say it cannot be done should not interrupt those who are doing it- George Bernard Shaw.

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              Warren, MI
              United States
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              December 14, 2013
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              Posted: July 8, 2015, 8:01 pm - IP Logged

              I just thought of this idea I havent acted on it yet. If all of us lottery players, heavy spenders or not had the patience to watch out trees grow then we dont have to play the lottery 

                music*'s avatar - nw bookeep.jpg
                Happy California
                United States
                Member #157856
                August 2, 2014
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                Posted: July 8, 2015, 9:12 pm - IP Logged

                Patience is a virtue that not very many lottery winners have. If they did then they would still be rich.

                 One of the debates here is Lump Sum v. 30 year annuity . Deeyar948 , where do you stand ?

                 Factors such as age, health, size of lottery won, and more need to be seriously thought out.

                 I've been rich and I've been poor. Believe me, rich is better. 

                 Attributed to Joe E. Lewis and others

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                  CALI
                  Afghanistan
                  Member #118735
                  November 6, 2011
                  134 Posts
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                  Posted: July 9, 2015, 12:03 am - IP Logged

                  We have dropped about 70 Grand, maybe we will stop at 100K

                   

                  (HIT THE BIG ONE, OR BUY A SKI MASK)

                   

                    BobP's avatar - bobp avatar.png
                    Dump Water Florida
                    United States
                    Member #380
                    June 5, 2002
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                    Posted: July 9, 2015, 2:36 am - IP Logged

                    To answer your teaser question.  Don't overestimate your ability to make financially savvy decisions as you age.  Be sure to work enough periods to qualify for social security so you can take medicare at 62 as health fails can wipe out millions and buying coverage on the open market can be expensive.  If you're healthy wait until 70 to collect SS it will provide better walking around money while your investments work.

                    I'm going to go ahead and say the average heavy player could easily cut their play enough to equal a yearly 5 of 6 prize and some 4 of 6 prizes thrown in, a win rate many would love to have every year.

                    BobP

                      Raven62's avatar - binary
                      New Jersey
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                      June 28, 2005
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                      Posted: July 9, 2015, 7:51 am - IP Logged

                      All the money you spend on lottery can be saved up by time you hit retirement age, you'll have a nice stash.

                       

                      If you spend 40 dollars a week thats $2080 a year times by 25 years thats $52,000!

                      One Pick 4 Str8 = $5,000 x 12 = $60,000 per Year x 25 Years = $1,500,000 - $52,000 = $1,448,000 Net!

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

                        Teddi's avatar - Lottery-008.jpg

                        United States
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                        May 13, 2013
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                        Posted: July 9, 2015, 8:51 am - IP Logged

                        All the money you spend on lottery can be saved up by time you hit retirement age, you'll have a nice stash.

                         

                        If you spend 40 dollars a week thats $2080 a year times by 25 years thats $52,000!

                        The issue with thinking along these terms is that it can apply to anything. We can all save more for retirement if we chose to live a more Spartan existence. One could cut out Starbucks, cable, vacations, restaurants,  and a whole lot of other unnecessary vices and be a millionaire by the time retirement rolled around. But what would be the point if one cuts out all the things that bring you enjoyment? 

                          Raven62's avatar - binary
                          New Jersey
                          United States
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                          June 28, 2005
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                          Posted: July 9, 2015, 9:17 am - IP Logged

                          The issue with thinking along these terms is that it can apply to anything. We can all save more for retirement if we chose to live a more Spartan existence. One could cut out Starbucks, cable, vacations, restaurants,  and a whole lot of other unnecessary vices and be a millionaire by the time retirement rolled around. But what would be the point if one cuts out all the things that bring you enjoyment? 

                          Maybe one could learn to love it:

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

                            Artist77's avatar - batman14

                            United States
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                            January 16, 2012
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                            Posted: July 9, 2015, 8:26 pm - IP Logged

                            99% of the time I bring my own lunch to work vs. buying it. I see some coworkers spend as much as $30 a day buying meals. I save more money this way over the years so my little bit of lottery money does not add up to much. I paid my home off early with a 15 year mortgage and took few real vacations... so when someone rarely comments on my lottery money, I ask if their home is paid off and how much money do they have in their retirement accounts.

                            J'aime La France.

                              JeetKuneDoLotto's avatar - mystic

                              United States
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                              November 27, 2014
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                              Posted: July 9, 2015, 8:53 pm - IP Logged

                              I just thought of this idea I havent acted on it yet. If all of us lottery players, heavy spenders or not had the patience to watch out trees grow then we dont have to play the lottery 

                              I agree. 

                              If all of us lottery players, heavy spenders or not had the patience to 

                              watch water get wet

                              then we don't have to play the lottery.

                              Because of styles, people are separated.  They are not united together because styles became law.  But the original founder of the style started out with hypothesis - but now it has become the gospel truth.  Like boxing or fencing JKDL is a step by step project in which each maneuver must be repeated many times.  Empty your mind, be formless, shapeless, like water.  Now you put water into a cup, it becomes the cup.  Put it into a teapot, it becomes the teapot.  Now water can flow, or surge or drip or crash.  Be water my friend.