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Started By
Message
re: How do lottery winners or extremely wealthy keep their $ safe?
Posted on 3/28/13 at 10:07 am to Vols&Shaft83
Posted on 3/28/13 at 10:07 am to Vols&Shaft83
quote:
Lottery winners are too stupid to keep their money safe. They're idiots who couldn't manage a small budget, How in the world would they manage a large one?
They would pay someone to manage it for them
1
Posted on 3/28/13 at 11:08 am to hiltacular
Look at Broke's posts on the previous page, proof that these folks didn't need a financial manager nearly as badas they needed a therapist.
Posted on 3/28/13 at 11:31 am to Vols&Shaft83
quote:
Tax on the poor and people who can't do math. frick the Lottery.
In GA lottery proceeds fund the HOPE scholarship program and GA pre-k program.
I've got no beef with taxing stupid adults to raise the aggregate level of intelligence of kids
Posted on 3/28/13 at 11:38 am to ZereauxSum
quote:
In GA lottery proceeds fund the HOPE scholarship program
Same in TN. Hoping my kids can reap some of those benefits down the road.
Posted on 3/28/13 at 11:55 am to The Mick
I'd leverage as much as I could scooping up real estate for rental properties
Posted on 3/28/13 at 12:33 pm to Vols&Shaft83
quote:
Look at Broke's posts on the previous page, proof that these folks didn't need a financial manager nearly as badas they needed a therapist.
I wouldn't use an isolated experience on a message board to classify every lottery winner as "unstable" or needing of a therapist. For every lottery winner you hear of going broke, you don't hear of the 20 who are fine.
This post was edited on 3/28/13 at 12:34 pm
Posted on 3/28/13 at 12:35 pm to ZereauxSum
quote:
In GA lottery proceeds fund the HOPE scholarship program and GA pre-k program.
Yeah the lotto paid for my entire education, I give it nothing but praise.
Posted on 3/28/13 at 12:35 pm to hiltacular
quote:
For every lottery winner you hear of going broke, you don't hear of the 20 who are fine.
This, the ones who don't blow it doesn't make for a good news story.
Posted on 3/28/13 at 1:04 pm to The Mick
Invest in cocaine and hoes..
Posted on 3/28/13 at 2:11 pm to wegotdatwood
quote:
For every lottery winner you hear of going broke, you don't hear of the 20 who are fine.
No, your numbers are bass ackwards. 90% have exhausted their winnings and are in debt within <5 years. That's 9 out of 10, THAT'S ALMOST ALL OF THEM!!!
quote:
This, the ones who don't blow it doesn't make for a good news story.
The few that don't squander it probably wouldn't make the news unless they did something spectacular with the money, like give half of it away to charity (which has happened a few times), or take the winnings and build Fortune 500/1000/ HELL 2000, company, HAS LITERALLY NEVER HAPPENED.
Posted on 3/29/13 at 10:16 am to Vols&Shaft83
Thought this might be germane to this thread.
Powerball winner wanted for past-due child support payments
Guess we'll see how it turns out for him.
Powerball winner wanted for past-due child support payments
Guess we'll see how it turns out for him.
Posted on 3/29/13 at 10:40 am to The Mick
Posted on 3/29/13 at 11:05 am to BACONisMEATcandy
quote:
BACONisMEATcandy
Posted on 3/29/13 at 2:44 pm to HamCandy
Government bonds would eat up a large portion of your portfolio if you wanted to keep it "safe".
Posted on 3/29/13 at 5:03 pm to LSURussian
quote:
ETA: I'd probably also rent a large safe deposit box and fill it up with $100 bills, although technically I think that's illegal from what I understand.
Why not just convert it into an easily convertible commodity such as gold, platinum, etc....
If shite does go down where you'd need that cash, the paper currency is likely to be worthless anyway.
Posted on 3/29/13 at 5:42 pm to southernelite
quote:
Why not just convert it into an easily convertible commodity such as gold, platinum, etc....
Hell, why not convert it to Bitcoins, Unicorn Farts, and Mermaid counts?
Posted on 3/29/13 at 5:57 pm to The Mick
Hijack.
My buddy Sal in Jersey gets call from 5 year tenant Wednesday saying he's moving out Monday. Buddy says you have to give me 30 days, I'll prorate you for April, is everything okay? Tenant says "frick yeah, my cousin hit the powerball, let me know what I owe you!"
My buddy Sal in Jersey gets call from 5 year tenant Wednesday saying he's moving out Monday. Buddy says you have to give me 30 days, I'll prorate you for April, is everything okay? Tenant says "frick yeah, my cousin hit the powerball, let me know what I owe you!"
Posted on 3/29/13 at 5:59 pm to Vols&Shaft83
quote:
quote: Why not just convert it into an easily convertible commodity such as gold, platinum, etc.... Hell, why not convert it to Bitcoins, Unicorn Farts, and Mermaid counts?
Horrible comparison
Posted on 3/29/13 at 6:31 pm to southernelite
quote:Actually, going into September 2008, that is exactly what many Wall Streeters did.
Why not just convert it into an easily convertible commodity such as gold, platinum, etc....
Posted on 3/29/13 at 7:07 pm to ItNeverRains
quote:
My buddy Sal in Jersey gets call from 5 year tenant Wednesday saying he's moving out Monday. Buddy says you have to give me 30 days, I'll prorate you for April, is everything okay? Tenant says "frick yeah, my cousin hit the powerball, let me know what I owe you!"
The same cousin that I posted about that has been stiffing his kids on child support for 4 years?
Seems like a generous guy. I'm sure you bud's former tenant is making a wise choice
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