Lottery hits whopping $1 billion
- Thread starter stinkynuts
- Start date
Yup, if you take the lump sum it's only 25% of the total.
If you tkae the annuity, you're giving up hundreds of millions in lost interest from investments. Plus, 30 years from now, inflation will have eaten up a lot.
Still, 250 million is life changing. If I had a chance, I would buy a few tickets.
Price per ticket is now $5.00. Talk about inflation, I mean GREED. From $2.00 to $5.00 they can go to hell !!
As the old saying goes, "There's only 2 things consistent in life.....death and TAXES". But even after taxes I think all of us agree that the winner could live VERY comfortably...once the phone number is changed, buy a hidden hideaway and stop answering the door (or hire temporary security).
LTO_3
LTO_3
Many lottery winners end up like sports stars, penniless. They go wild and spend like they have a bottomless bank account. I heard one story of a woman out west that won $10 million and spent it all in less than a year. She was a welfare mom that grew up poor. One of the things she bought was a custom Cadillac Escalade. She had an infatuation with a local rap star that had some minor hits. He ordered the custom $500,000 escalade but soon discovered that his hits were fading. So the lottery winner bought the escalade to get his $200,000 deposit back and get him out of debt and obligation. In less than 12 months, all her money was gone.
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And there is a simple explanation for this: when people are stupid, they are stupid in everything. Since smart people do not buy lottery tickets, what else can be expected from lottery winners?
