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Investing in the interest on jackpot games

Topic closed. 5 replies. Last post 10 months ago by wander73.

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wander73's avatar - Lottery-038.jpg
Philadelphia, PA
United States
Member #153774
March 24, 2014
852 Posts
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Posted: February 6, 2016, 10:35 am - IP Logged

As most of us know it many lottery winners have legal battles,  drug issues, family issues,  money issues, tax related problems, etc. 

 

If anyone were to hit a huge jackpot especially with these lotteries, how do you know what the interest is and what percentage would you take to make money on it.  After thinking about this one I am actually in agreement.

As everyone knows most people spend every dime and go broke.

 

Just some thought from many of you.

    TheMeatman2005's avatar - lightening
    Brooklyn, NY
    United States
    Member #169723
    October 29, 2015
    877 Posts
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    Posted: February 10, 2016, 5:16 pm - IP Logged

    Mostly everyone has some sort of skeleton hanging in the closet. Hopefully a jackpot win can clean up most of them.

    As far as interest on the money you deposit, any amount you make would be more than you had before the win.

    You have to invest wisely and set up your own annuities that pay out over varying years. This way you can't spend it all and have nothing to show for it. 

    The Meatman

    “The quickest way to double your money is to fold it in half and put it in your back pocket.” Will Rogers

    Winning happens in a flash, Like A Bolt Of Lightning!  Patriot

      rcbbuckeye's avatar - Lottery-043.jpg
      Texas
      United States
      Member #55889
      October 23, 2007
      5588 Posts
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      Posted: February 10, 2016, 6:30 pm - IP Logged

      Give it a little more time and we'll be paying the bank to hold our money.

      Negative interest plan is on the way.

      CAN'T WIN IF YOU'RE NOT IN

      A DOLLAR AND A DREAM (OR $2)

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        Arizona
        United States
        Member #165073
        March 24, 2015
        220 Posts
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        Posted: February 10, 2016, 8:04 pm - IP Logged

        As everyone knows most people spend every dime and go broke.

        Everyone knows it, but is it true? Sure, there have been a few high-profile cases, but they don't constitute "most".

         

        If anyone were to hit a huge jackpot especially with these lotteries, how do you know what the interest is and what percentage would you take to make money on it.

        If I were to hit a PB or MM jackpot, I wouldn't worry about making money on it. I'd worry about making the existing money last, and I've got a fairly solid plan on that:

        Step 1: Take the annuity.

        Step 2: Put a chunk of each payment into long-term safe investments that I won't touch until after the annuity ends.

        Step 3: No debt. Ever.

        Step 4: Live well within my means.

          Romancandle's avatar - moon
          Upacreek
          United States
          Member #136306
          December 8, 2012
          428 Posts
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          Posted: February 10, 2016, 8:15 pm - IP Logged

          Give it a little more time and we'll be paying the bank to hold our money.

          Negative interest plan is on the way.

          With the interest rates these days and fees... we've been paying the banks for years already to hold our money.

          -RC

            wander73's avatar - Lottery-038.jpg
            Philadelphia, PA
            United States
            Member #153774
            March 24, 2014
            852 Posts
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            Posted: February 11, 2016, 10:29 am - IP Logged

            With the interest rates these days and fees... we've been paying the banks for years already to hold our money.

            Speaking of the banks as you started pointing out,  I am trying to wonder how our fed govt claims of all this so called debt.

             

            About 100 yrs ago they borrowed 1 million dollars plus interest.  Where did they get that from?   Why are we in so much debt?   then they create these programs that are not effective and so many find ways of abusing it.  I never understood that.