1.3 billion Powerball next Wednesday

Cpt_Kirk said:
Sure are a lot of Debbie Downers on here. I bought one ticket yesterday, and I'll buy one more before the next drawing. It's fun, I can afford it, and it's the only gambling I'll participate in.
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You're spending a day's beer money. Or the equivalent of a quart of aviation oil. The expense is inconsequential to your daily life.

The people who spend their bread money are the ones who aren't smart enough to figure out that the lottery is contributing to their financial mess. They horrify me.
 
What was shocking to me was reading an article giving the percentage of fellow Americans whose retirement planning is "to win the lottery." This number should be vanishingly small and statistically insignificant, but it isn't. Truly sad . . .
 
kyleb said:
You're spending a day's beer money. Or the equivalent of a quart of aviation oil. The expense is inconsequential to your daily life.

The people who spend their bread money are the ones who aren't smart enough to figure out that the lottery is contributing to their financial mess. They horrify me.
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Those type of people have already figured out how to extract maximum amounts of benefits from the guvmint pot of gold.. Generations pass the tricks down.... Families on section 8 housing, came from section 8 housing,, Obese families who get food stamps came from families who are/were obese from food stamps, add in energy assistance, welfare, obamacare, obamaphones, etc etc.....

The ones standing in line to buy lottery tickets are smoking cigs, drinking beer and eating potato chips paid for with guvmint handouts.... Truth is,, these people are smarter then us who work hard every day, pay excessive taxes and try to get by while following the rules... I spent the first half of my life living real close to the RR tracks and observing how the poor people live, day in and day out so I witnessed it alot more then most POA'ers...

Call me a racist, or unsympathetic, or whatever.... But fact is.... more people are on public assistance now then ever.. and lottery ticket sales are growing in sales at greater extents in the " less then rich" sections of America...

Rant off...
 
The first beneficiaries of my newfound wealth will be whoever sells wonderful old airplanes with round engines, Bass Pro and a Florida real estate agent.
 
One of the newscasts last night pointed out that this is more than the entire GDP/whatever of 8 small countries.

1) Hire 5 wealth management companies, the type that won't talk to you for less than $10M. Let each of them manage a chunk, independently
2) set up tax-free trusts for my little cousins for college.
3) refurb my house, then sell it
4) buy another house to live in (smaller than I have now but with a bigger yard for the dog) in town
5) install GTN 750 and ADS-B in my cherokee, then sell it
6) buy a tricked out Mooney or at least one that I can install a GTN 750 & ADS-B
7) knee replacement, so I can go skiing again next season
8) perhaps a patio home north of Phoenix when I get fed up with the cold in Colorado (as I am right now. Too cold to even go fly)
9) set up some scholarships at 3 universities for CS majors
10) set up some scholarships at my current school for aviation majors
11) Frivolously blow $$$$ on friends.
 
Gotta love the guy that told the news reporter he would spend the money on hookers and blow :rofl:
 
I'm going to buy John Travolta's place - lock, stock, barrel. The 707 and everything else.

He can move out and live somewhere else.
 
RalphInCA said:
He can move out and live somewhere else.
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What a waste!

Think of how cool it would be to keep him on as a pool boy!

John-Travolta-pulp-fiction-8899823-307-369.jpg


With your drinks, you could get famous lines from Pulp Fiction!

In any case, don't forget your POA buddies!
 
Wouldn't want Travola's place. There'd be Scientologists at the door looking for handouts like every week was Halloween.
 
Actually - I think with that much money you could use the CAPS as part of the SOP for landings...
 
$1.4B prediction now. Odd how $100M is a rounding error.
 
I have a 5 in 290 million chance. :fcross:

I bought some "fine" gas station cigars and a 40oz steel reserve with my lotto tickets to get the full experience.
 
We have 500 tickets between 100 of us at work.
Last week, we won 36 bucks so we are rolling that in too.

I didn't care to play that bad but I sure as hell wasn't going to be the only person that shows up to work after the drawing.
 
SixPapaCharlie said:
We have 500 tickets between 100 of us at work.
Last week, we won 36 bucks so we are rolling that in too.

I didn't care to play that bad but I sure as hell wasn't going to be the only person that shows up to work after the drawing.
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Yup, same here. I put in my $2, lol.
 
eh, lemme know when it gets over $2b, then I'll grab a coupl'a quickpicks.
 
wayne said:
Less than that. The lump sum payout is $806 million, then taxes out of that. Somewhere in the $390 million neighborhood will be net-net with the lump sum.
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At 1.4 million, you take the lump sum.
At 1.4 billion, you DON'T. I think you can get by on 56,000,000 per year for the next 25 years. (Ok, so it's like 30,000,000/yr after taxes). You would make more than Lebron James, and you don't even have to go to practice.
 
orange said:
At 1.4 million, you take the lump sum.
At 1.4 billion, you DON'T. I think you can get by on 56,000,000 per year for the next 25 years. (Ok, so it's like 30,000,000/yr after taxes). You would make more than Lebron James, and you don't even have to go to practice.
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Yeah but after that first year, you get cancer and pull a steve jobs blowing millions for treatments and still die and your family has nothing.
The payments don't get passed to your heirs.

Now I realize the chances of that happening are as slim as well um... winning in the first place.
 
Gerhardt said:
$1.4B prediction now. Odd how $100M is a rounding error.
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Not a rounding error, the anounced jackpot changes based on the forecasted number of tickets that will be sold. I predict that it will reach 1.6 billion by Wednesday.
 
SixPapaCharlie said:
Yeah but after that first year, you get cancer and pull a steve jobs blowing millions for treatments and still die and your family has nothing.
The payments don't get passed to your heirs.
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Lotto payments do get transferred to your heirs.
 
SixPapaCharlie said:
We have 500 tickets between 100 of us at work.
Last week, we won 36 bucks so we are rolling that in too.

I didn't care to play that bad but I sure as hell wasn't going to be the only person that shows up to work after the drawing.
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Peer pressure is a beotch.
 
Any idea what discount rate they use to get the lump sum?
That makes a huge difference in overall return, I suspect they use a high rate to lessen the present value.
 
Getonit said:
Any idea what discount rate they use to get the lump sum?
That makes a huge difference in overall return, I suspect they use a high rate to lessen the present value.
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The cash option reflects actual ticket sales.
 
Getonit said:
Any idea what discount rate they use to get the lump sum?
That makes a huge difference in overall return, I suspect they use a high rate to lessen the present value.
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I think they take half right off the top and then tax you on the lump sum.
 
SixPapaCharlie said:
Yeah but after that first year, you get cancer and pull a steve jobs blowing millions for treatments and still die and your family has nothing.
The payments don't get passed to your heirs.

Now I realize the chances of that happening are as slim as well um... winning in the first place.
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So the alternative is that you don't play, you don't win, you get cancer anyway, you max out your health insurance, die, and your family has nothing. Don't see the positive side of that one either.
 
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I just found out my state by law discloses every large lottery winner. I'd have to move to a different state, change my name, set up a bunch of trusts, etc to disappear properly. And even then any half-competent PI could find me. :(
 
bullwinkle said:
I just found out my state by law discloses every large lottery winner. I'd have to move to a different state, change my name, set up a bunch of trusts, etc to disappear properly. And even then any half-competent PI could find me. :(
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A half competent PI maybe, but not every Tom, Dick, and Harry weirdo could find you. The people who are going to most likely try to get money from you with some sob story or crazy business venture, are probably not going to hire a PI to find you. I would do just that, make myself a new identity. I don't think that it would be that hard to do.
 
JB1842 said:
. . . move somewhere that nobody knows me and where another rich person wouldn't stand out in the crowd.
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South Beach would make a good start. Second home somewhere else. Just be aware of tax laws if you decide to try another country.
 
Hank S said:
South Beach would make a good start. Second home somewhere else. Just be aware of tax laws if you decide to try another country.
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Another country, no. Thinking more of the gulf side of Florida, if I go south. Or just buy a few hundred acres somewhere and not have to worry about nosey neighbors.
 
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