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How much is "life changing"?

Topic closed. 53 replies. Last post 6 months ago by TheMeatman2005.

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How large a win would it take to be life changing for you?

$50,000 [ 4 ]  [5.41%]
$100,000 [ 3 ]  [4.05%]
$500,000 [ 4 ]  [5.41%]
$1,000,000 [ 9 ]  [12.16%]
$2,000,000 [ 3 ]  [4.05%]
$3,000,000 [ 7 ]  [9.46%]
$5,000,000 [ 12 ]  [16.22%]
$10,000,000 [ 9 ]  [12.16%]
$20,000,000 [ 4 ]  [5.41%]
$50,000,000 [ 19 ]  [25.68%]
Total Valid Votes [ 74 ]  
Discarded Votes [ 7 ]  
Funtimz's avatar - Lottery-022.jpg

United States
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March 30, 2015
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Posted: June 14, 2016, 9:53 am - IP Logged

As well as enough to rent one of those Yachts  (such as the ones on the show Below Deck) for a once in a lifetime experience...

Take Risks: If you win, you'll be happy.  If you lose, you will be wiser...

    Think's avatar - lightbulb
    Marquette, MI
    United States
    Member #20541
    August 20, 2005
    710 Posts
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    Posted: June 14, 2016, 10:47 am - IP Logged

    IKR?  There are a couple wealthy people on this thread if their lives are so good that it would require that much money to completely change it.

    I mean, I understand WANTING more.  If I had my choice I'd win 5 billion.

    But a mere 10 million (cash after taxes) would easily allow me to retire.  That's definitely life changing right there.  It would also allow me to upgrade my home by 2 or 3 steps up the rung ($700K buys a really nice home in a good area here), allow me to buy a summer home, allow me to go on a couple really nice vacations per year, allow me to buy good season tickets to the local NCAA football games including a couple extra for friends who otherwise couldn't afford to go, allow me to upgrade my car and buy 2 or 3 if I want.  Plus all the little stuff, nicer clothes, higher quality food, faster computers and connections, people to clean/landscape/shovel snow, not worry what will happen if my roof leaks or furnace dies or car breaks down.  I wouldn't even have to shop for the best prices to replace or fix them.  Just call someone and spend my time doing hobbies or something I enjoy.

    Seriously, that's not enough to change everyone's life who's ever posted here?  Apparently some people would consider it only enough to be able to invest more money into buying more lottery tickets so they could win a prize worth winning.

    Well Sacred Cow, there are many factors you are not considering!

    You may be old and have accumulated many things and live in a low cost of living area but there are younger people on here and people who live

    in really expensive areas.

    10 million in your situation is NOT the same as 10 million in everyones situation!  I know it may be hard for you to comprehend but not everbody is in the exact same situation as you!

    Take 10 million in New York City vs 10 million pretty much anywhere in South or Central America or take 10 million with a 90 year old vs 10 million with  an 18 year old for example.

    You are entitled to your opinion however, I would say, you are not entitled to assume everyone is in the same situation.

    "The American Voter is too Stupid..."   Jonathan Gruber Obamacare Architect

    "There is no sin except stupidity" Oscar Wilde

    https://books.google.com/books?id=apm21IcqhmcC&pg=PP6&lpg=PP6&dq=americans+can+tolerate+just+about+anything+except+stupidity&source=bl&ots=tq9QUeP46j&sig=qXfXEz-wh_yUQSsE8DZG0ZjABls&hl=en&sa=X&ved=0ahUKEwil8YSjmuDPAhWF7IMKHV11A0kQ6AEIUzAI#v=onepage&q=americans%20can%20tolerate%20just%20about%20anything%20except%20stupidity&f=false

      HoLeeKau's avatar - YheaShea
      Idaho
      United States
      Member #94283
      July 17, 2010
      2284 Posts
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      Posted: June 14, 2016, 12:23 pm - IP Logged

      Well Sacred Cow, there are many factors you are not considering!

      You may be old and have accumulated many things and live in a low cost of living area but there are younger people on here and people who live

      in really expensive areas.

      10 million in your situation is NOT the same as 10 million in everyones situation!  I know it may be hard for you to comprehend but not everbody is in the exact same situation as you!

      Take 10 million in New York City vs 10 million pretty much anywhere in South or Central America or take 10 million with a 90 year old vs 10 million with  an 18 year old for example.

      You are entitled to your opinion however, I would say, you are not entitled to assume everyone is in the same situation.

      Even if someone is 18 and lives in the most expensive city in the world, 10 million will change their life.  One possibility would be to take 2 million to spend and invest the remaining 8 million.  So, they spend 1 million on a home.  $150K on a car. $500K on other toys.  (Not everyone prizes home ownership, so they might spend that mil on something else that is important to them, but you get the idea.  They have a WHOLE bunch of money to spend as they please.)  Leaving $300K to live off until the first payout from their investment.  The income off that investment should be around $300K/yr after taxes, without touching the original principal.  Every single year.  Without spending a single hour working.

      Unless that person already had a million dollar home, and made over $150K per year while at the same time having plenty of free time to pursue hobbies and do as they pleased, I can't imagine how that person could think that amount of money was not life-changing.

      Of course you're right, everyone has the right to define "life-changing" for themselves.  But I'm having a hard time understanding it, and I'm wondering if the people who wouldn't be significantly changed by 10 million are the same ones who go bankrupt even when they have 100 million or 200 million.

        Think's avatar - lightbulb
        Marquette, MI
        United States
        Member #20541
        August 20, 2005
        710 Posts
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        Posted: June 14, 2016, 2:10 pm - IP Logged

        Even if someone is 18 and lives in the most expensive city in the world, 10 million will change their life.  One possibility would be to take 2 million to spend and invest the remaining 8 million.  So, they spend 1 million on a home.  $150K on a car. $500K on other toys.  (Not everyone prizes home ownership, so they might spend that mil on something else that is important to them, but you get the idea.  They have a WHOLE bunch of money to spend as they please.)  Leaving $300K to live off until the first payout from their investment.  The income off that investment should be around $300K/yr after taxes, without touching the original principal.  Every single year.  Without spending a single hour working.

        Unless that person already had a million dollar home, and made over $150K per year while at the same time having plenty of free time to pursue hobbies and do as they pleased, I can't imagine how that person could think that amount of money was not life-changing.

        Of course you're right, everyone has the right to define "life-changing" for themselves.  But I'm having a hard time understanding it, and I'm wondering if the people who wouldn't be significantly changed by 10 million are the same ones who go bankrupt even when they have 100 million or 200 million.

        Ok, along the lines of not everybody being in the same situation,  what if the person who won 10 million was 25 million in debt when they won the 10 million?

        The problem with you or me imagining winning any sum of money is that no matter what we imagine we don't have infinite imaginations.

        I used to want to win more and start some businesses but now that work, effort, success and wealth are under attack I only want to buy acerage

        and live in the woods.

        I had imagined so many things I could have done with hundreds of millions of dollars other than hoard it to myself but under the current environment where people are punished for effort and success and donating money to charity (Pease fine)  I just want enough to keep to myself.

        Now the hard part...winning it first!Smile

        "The American Voter is too Stupid..."   Jonathan Gruber Obamacare Architect

        "There is no sin except stupidity" Oscar Wilde

        https://books.google.com/books?id=apm21IcqhmcC&pg=PP6&lpg=PP6&dq=americans+can+tolerate+just+about+anything+except+stupidity&source=bl&ots=tq9QUeP46j&sig=qXfXEz-wh_yUQSsE8DZG0ZjABls&hl=en&sa=X&ved=0ahUKEwil8YSjmuDPAhWF7IMKHV11A0kQ6AEIUzAI#v=onepage&q=americans%20can%20tolerate%20just%20about%20anything%20except%20stupidity&f=false


          United States
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          February 13, 2011
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          Posted: June 14, 2016, 3:01 pm - IP Logged

          $100,000,000 after taxes & that is because I'm not very old.

            Avatar
            Portland, OR
            United States
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            August 20, 2013
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            Posted: June 15, 2016, 1:52 am - IP Logged

            $1 Billion after taxes.   That's life changing.

            "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

              zephbe's avatar - animal butterfly.jpg
              South Carolina
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              Posted: June 19, 2016, 8:32 am - IP Logged

              If a man could have half of his wishes, he would double his troubles.” Benjamin Franklin

              Every champion was once a contender who refused to give up.-Rocky Balboa

              “Don’t let someone who gave up on their dreams talk you out of going after yours.” – Zig Ziglar

                psykomo's avatar - animal shark.jpg

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                May 30, 2004
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                Posted: June 19, 2016, 9:20 am - IP Logged

                  finding $100 bill in the parking lot, luck think about it...is what Psyko need$$$ now>>>>Sulk Off

                  TheMeatman2005's avatar - lightening
                  Brooklyn, NY
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                  October 29, 2015
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                  Posted: June 19, 2016, 5:36 pm - IP Logged

                  I will take the current Mega jackpot of $333 mil ($226 mil cash value) as my "LIFE CHANGING" amount.

                  Party

                  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

                    Avatar

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                    Posted: June 19, 2016, 8:01 pm - IP Logged

                    65535 billion trillion dollars...:) I really dont think theres that much in circulation but I would feel I had just enough to get by at that point :)

                      hearsetrax's avatar - 0118

                      United States
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                      Posted: June 20, 2016, 5:56 am - IP Logged

                      If a man could have half of his wishes, he would double his troubles.” Benjamin Franklin

                      of that I'd have no doubt jejeje

                        maxodds's avatar - max
                        Jupiter, FL
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                        Posted: June 25, 2016, 11:12 pm - IP Logged

                        And that's one of the reasons I will not play the Powerball and the Mega Millions... yet. $100,000 is good enough a life changer for me right now. For that reason I prefer to play a pick 5 game like Florida Fantasy 5, the odds of winning it is about 376,922, which means it is much easier to win.

                        The odd of winning the powerball jackpot is 292 million, good luck with that, when I have won the fantasy 5 I will move on to the powerball. Even with Mega Millions, the odds of winning it is a staggering 259 million, for $2 bucks a ticket on those 2 games, I'll pass for now.

                        So for now I will play easier games to win than throw away more money at bigger games that are much harder to win.

                          TheMeatman2005's avatar - lightening
                          Brooklyn, NY
                          United States
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                          October 29, 2015
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                          Posted: June 27, 2016, 2:07 pm - IP Logged

                          And that's one of the reasons I will not play the Powerball and the Mega Millions... yet. $100,000 is good enough a life changer for me right now. For that reason I prefer to play a pick 5 game like Florida Fantasy 5, the odds of winning it is about 376,922, which means it is much easier to win.

                          The odd of winning the powerball jackpot is 292 million, good luck with that, when I have won the fantasy 5 I will move on to the powerball. Even with Mega Millions, the odds of winning it is a staggering 259 million, for $2 bucks a ticket on those 2 games, I'll pass for now.

                          So for now I will play easier games to win than throw away more money at bigger games that are much harder to win.

                          I always get at least 1 Mega and 1 Power Ball ticket since you have to be in it to win it and like they say..... hey, you never know.

                          I also get 1 NYS Lotto ticket which gives you 2 games for $1 and has better odd than all the other lottery games.

                          Below is a chart copied from the NYS Lottery website.

                          If the jackpot is not won in any drawing, the First Prize Pool Money is carried forward and is added to the next LOTTO Jackpot. If there are no second prize winners, the second prize pool money will be carried forward and added to the second prize pool for the next draw.

                          Chances of winning

                          NUMBERS MATCHED
                          PRIZE LEVEL
                          CHANCES OF WINNING
                          On a $1 Play
                          Six
                          1st
                          1: 45,057,474.00
                          1: 22,528,737.00
                          Five + bonus
                          2nd
                          1: 7,509,579.00
                          1: 3,754,789.50
                          Five
                          3rd
                          1: 144,414.98
                          1: 72,207.49
                          Four
                          4th
                          1: 2,179.85
                          1: 1,089.92
                          Three
                          5th
                          1: 96.17
                          1: 48.08

                          Overall Odds: 1 in 46.02

                          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

                            Avatar
                            Ohio
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                            June 25, 2016
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                            Posted: June 27, 2016, 2:22 pm - IP Logged

                            50-100k could easily change my life. I could use that wisely for a few years, and do things I've been wanting to do for a bit.

                              helpmewin's avatar - dandy
                              u$a
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                              Posted: June 27, 2016, 2:49 pm - IP Logged

                              I got bored and started reading some very old threads. One surprised me, in how much disagreement there was in how large a win needed to be in order to be considered "life changing".

                              What's your magic number? ( cash, after taxes )

                              For discussion, what does "life changing" mean to you?

                              That's why you made the Thread, Green laugh

                               

                              To me Life changing would be what you give not what you get. 

                              The more i Win the more i can give Dance

                              Let it Snow Snowman