https://myfox8.com/news/north-carolina/nc-man-wins-1000-a-day-for-life-after-buying-2-ticket/
Wouldn’t it be nice to win $1000/day for LIFE? Ok, so the man chose lump sum, and apparently “life” means 15.75 years for this dude.
He had the option of getting 365,000/yr every year or lump sum of 5,750,000 (which would equal to 15.75 years). “Life” equates to 20 years in the lotto world so idk why he’s only getting 15.75 years. Post-tax lump sum is 4.08M.
Well whatever the math is, I would LOVE to get 1000/d every day for 15 or 20 fucking years. How good would that be? Imagine how much easier you could BREATHE if you got a guaranteed 1000 PER DAY? Shit, I guarantee that’ll get rid of depression on 80% of the ppl on this site or any other depression site.
*with the caveat that i remain an anonymous winner that is
Well, I guess that means I ought to actually BUY lotto tickets then lol. I never play bc the odds are ridiculous. The odds of this guy winning, or anyone winning in this game, was 1 in 30 million O_o.
Odds of being struck by lightning= 1 in 15,300
Odds of being struck by lightning twice= 1 in 9M
Odds of winning that 1000/d for Life Lottery= 1 in 30.8M
And…this is why I don’t play.
But…not playing also means I will never win.
17 comments
I’ve watched some things about real life lottery winners, most of them blow it, at least in the United States. Over in Europe they’re a lot more humane about it. Most places in the US, you can’t claim anonomously, and that is the big killer for most people. Every family and friend they never knew they had come out of the woodwork, asking for money. They can’t help them all. I read about a guy who ended up killing himself, because it turned his life into hell.
over in Europe they give winners the option not to publish their claim, and financial advisors as well as mental health advice.
but yeah, I know almost exactly what I’d do with every dollar. Part of that is because I’m expecting an inheritance, not that big, but big enough to need to be planned. A few splurges, manageable ones though is the real trick. Buying a house is fine, but buying a 50,000 square foot mansion is a whole other world of hurt. Same goes for an average car, probably fine, but a supercar? It can quickly eat up everything. Or horses, or boats….. god there are so many STUPID ways to blow a whole lot of money fast, and that’s not even getting into the illicit ways you could blow it.
after you get your splurges done, the best thing is to shunt the majority into some sort of managed fund, with a persona actually certified to do that job. Lots of people miss that one, because anyone can claim to be an “investment manager” but most often that’s code for salesman or thief.
me, I’d put at least half in some sort of low return high security investment, probably government bonds.
but…. I doubt I’ll ever see that kind of money. Not even sure if I want to, people find out all sorts of horrible things about their lives when they get it. But if it was already coming, I think I could deal. Wouldn’t seek it out.
Yes, you’ve got it right. Most US lotto winners wind up broke bc:
1- they announce the winners and bad ppl try to either connive them out of it or kill them for it. MANY lotto winners have wound up murdered. And the rest scheme them out of the money. Not all of the lotto winners lose the money bc they’re dumb.
2- the ones who are dumb don’t realize you don’t win “x” amount. If you win $1M, you wind up with ~650K due to taxes, depending on your state. Ppl who blow their money don’t realize you only get a little more than half of what you win.
3- if you buy a house, you have to pay taxes on that. taxes on multi-million dollar homes are not insignificant. ppl who buy loads of mansions, luxury cars, boats, etc are dumb. they overestimate how much they have / underestimate the cost of upkeep, taxes, etc.
With that said, I’d still want to win. I’d keep it a secret from everyone, invest/safeguard most of it, and spend only a bit every year. but yes, i would live a nice life, no more penny-pinching on everything -_-
hell, i’d figure how many years i got left, then divide up how much i ought to spend every year. hell, with that many millions, you can live decently just live off of the interest.
damn, i wish i won $5M dollars. that’s good enough to live a very secure life, good life. semi-lavish. won’t be enough for a lavish lavish life, but hey, i won’t be too greedy lol.
so how much are you set to inherit? the house you’re in is worth how much now?
are you the only child? i think you said you had a sister who has kids? will your parents split it 50/50 with you and her?
It’s hard to tell because I don’t get to look at all the accounts, but I know a rough minimum of the size because of;
my parents house is almost payed off, and I know how much that is worth
there is at least one life insurance policy, not sure for how much
My granddad left all four of his children equal portions of his estate, which again is quite nebulous, but his house was valued in excess of a million. As of right now one of my uncles is paying back the other three for the house
There are also multiple investment accounts out there, my parents are still working and if they left those that would at minimum be another few tens of thousand to a hundred thousand
so my guess is .5 mil. Enough of that is liquid I could pay off all my debt, then decide on the right time to sell for the house. I’m an only child, so I’m it as far as the estate goes. My dad has a folder built with a list of all their assets in case of something happening to them
but that’s anywhere between “soon” and 30 years from now, my parents are still pretty healthy, and of course I wouldn’t wish anything bad on them. I do wish my granddad had thought of me in his will, especially given how much time I spent caring for him in his later years. That was a shock. I mean, he gave me a car, and I don’t want to be ungrateful for that, but that was decades before he passed.
“I’m an only child, so I’m it as far as the estate goes.”
Damn, you lucky bastard. I have 3 siblings plus they all have kids. I’m the only one that doesn’t. Anyhow, their kids will also get a slice too. If it gets split evenly, which it won’t, there’s 8 ppl. I won’t even get 1/8 bc my mom is, and always has been, a b**** to me. she has her 2 favorite golden children. then there’s my other sister, she’s lukewarm on her. and there’s me. the scapegoat. the one she always dunks on. i know i won’t even get 1/8 and that it won’t be fair. fair would be i get 1/4 since there’s 4 children. but i know i won’t get 1/4. the 2 golden children will get the lions share, then it’s my sister and her kid, then me.
all of the info, documents, and will, will be given to the 2 golden children, so i won’t even know how much they’re getting, or if they’ll even give me my share what she has allotted to me, what little she’ll give me compared to them.
i don’t even know all the assets she has either, so i don’t even know how much she has.
my whole life she’s treated me like shit. and i know in death, i’ll get screwed over by her bc she won’t be fair in the division, and i don’t trust my siblings to give me what she will allot to me.
so 100% goes to you since you’re the only child? 0.5M is what you estimate all their assets are, between the house you’re in, the house they’re in, life insurance, cash, investments, etc? seems like just the 2 houses would be 0.5M alone, given how much houses costs these days?
oh no, my house is around 100k equity, probably another 50k by the time I get it ready to sell
current estimates have my house at $200k total, but the new house just built down the street on the same size lot is $420k, so that is the new high price for the neighborhood.
but it’s different, that’s my money, I can have it as soon as I’m willing to sell. Unfortunately/fortunately depending on how you look at it, the house is my whole life savings. I got to cash out my college bonds at 20 and this is where they all went. Turns out, better investment than college. I mean, we suspected that 14 years ago when I bought it… ah those innocent days when I thought I could earn enough to pay for it.
and realistically? 1-1.5 m. If my parents lifestyle is an indicator of how much they have saved anyway. My assumption right now is that they stay relatively as they are, maybe partial retirement, and blow through a fair share of their retirement. My granddad at their age was worth 5 mil minimum, but then he lived to 96 and spent most of it
I also don’t know what getting me off their books will have on them. They might get richer, they might stop working. It’s hard to tell, they’re baby boomers, baby boomers don’t appear to know how to stop working on their own.
your granddad was worth 5M and all he gave you was a stupid car? sheesh…
damn son, when did you buy the house and how much did it cost then, like 100k? seriously wanna know.
also, college bonds? is that something your parents invested in for you as a baby that grew?
it’s insane how much houses cost now. and ofc i was too young with 0 money in the past to buy a house and cash in. ugh, being born in the wrong generation sucks. :'(
I bought my house in 09, right after the crash, and yeah back then it was worth about 106k, or at least that’s what I paid for it, first five years or so I lost money because the market was saturated.
my understanding on the bonds was that when I was babtized a whole bunch of relatives came together to give gifts, and that was most of them. It was a few thousand bucks, but in 20 years time grew to a substantial sum. I also lived in a really low rent apartment (remember those? I don’t know if they even still exist) for six months and saved most of my money. OH and I was married, I don’t remember how much she put in, little enough she was able to take it back in furniture when we divorced.
See, to me it was insane what I thought then; stay in the house for 5-10 years, in that amount of time build up enough equity to move to a larger house, around that time doing well enough to start a family. That never happened, my career hit the skids a few months later, that was my first major depressive episode.
She started a family though, so someone came out of it and got what they wanted. Sometimes I think I have a cursed touch; when someone is with me they tend to suffer my economic issues, but after leaving me on average they tend to do far better than average. I’m sure it’s just a perspective flaw, but that’s how it looks.
damn, u lucky bastard lol. 2009 was when i had ZERO money. and yes, it was the BEST time to buy. well i suppose 2009-2012 but still. damn, 100K house is like NONEXISTENT these days. see, new houses next to you are 420K. by the time u sell, say in 10 years, it’ll be 300K or 400K. AND you’ll have your parents house, which I gather is a lot more $$$.
So wait- your 100K, now 200K house- how many rooms does it have? how many sq feet? and you have surrounding land? (huge front and back yard)?
Damn, I am jealous. And just how middle of nowhere are you lol. How close is your closest neighbor? Houses still right by each other? (a few feet in between)
a certified financial planner? lol this one dude, i feel SO bad. he won the lotto, put it ALL in the bank, didn’t touch a single red cent, and trusted the banker to keep it safe, invest it safely for him. one day he gets injured from work and tried to take some money out for medical costs and found out that the bank basically absconded with ALL of his money. the slimy banker and i’m sure the rest of the upper bank mgmt were in on it. so the banker basically “invested” and lost ALL of his money. not just ALL but he went negative and wound up owing. and the courts acknowledged the banker was doing him dirty but still made the guy liable for what the banker did. only made the bank return like 40k or whatever paltry amount out of MILLIONS they took from him. THAT is fucked up.
Here a guy won the max amount, that is 5 crore, in Kon banega crorepati (Indian version of Who wants to be a millionaire). Came from a humble background, lived in village, so it was a life changing amount for him. Few years later a newspaper reporter went to his village to interview him and it turned out the guy is broke and ruined. He narrated initially he spent the amount in making his house, his uncles house, closing relatives loans. Then he got in company of some “urban” hifi individuals and apparently got into bad habits. According to him they were “showing him a new world”. Wife left. When his money was over the individuals left as well.
problem for him like for most in the US is that everyone knew he came into a lot of $$$. when ppl find out or know, there’s always going to be malicious ppl who are going to leech off of you and will do whatever they can to get it, be it getting the person drug addicted or whatever. not saying this situation isn’t his fault, but once ppl know, it’s hard to keep the vultures away.
The difference between him and lottery winners is that he didn’t win by luck, he won it through his knowledge, in a way it was hard earned money. Winning that game shows he was smart and intelligent guy. One would guess he would make better choices.
My observation from watching him in that gameshow is he was a bit too smart. Pride of smartness and of winning got to him. In interview also he said his wife and parents tried to advise him but he didn’t listen.
this just makes me think:
“Man, I should’ve bought a house in America when I was in high school.” -_-
Also, wow, I really am shit with finances as well…. I keep seeing people talk about tens of thousands or hundreds of thousands of dollars in terms of selling homes and what not and I just feel like even if I improve my own situation, I’ll never see that kind of monetary value in my lifetime.
Idk man, talking about any kind of inheritances or property values make my head spin because of that fact.
I do know that I hate gambling not only due to how predatory it is, but also because the only people who really win are the government and tax collectors and whatever lotto runs the game, and the chance of winning is so small people gamble away tens of thousands in extreme examples (average person wise) and likely won’t see any of that come to fruition at all…
Money is such a balancing act… The more you have, sure there may be stability there, but the worry of losing it or someone stealing it or whatever doesn’t give me any hope either…