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Random Thought Thread


stevenaa

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3 minutes ago, ixcuincle said:

"why bother you arne't going to win" 

 

Well, of course not. But 600m dollars. 600 ****ing million dollars. Do you know what you could do with 600 million dollars? You could retire. At age 24. Seriously. 

 

You could retire at age 5 with that kind of cheese.

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2 hours ago, ixcuincle said:

"why bother you arne't going to win" 

 

Well, of course not. But 600m dollars. 600 ****ing million dollars. Do you know what you could do with 600 million dollars? You could retire. At age 24. Seriously. 

With 600m dollars, your unborn kids with your future supermodel wife have retired, and their kids too.

On 8/18/2017 at 7:35 PM, Warhead36 said:

Fellas get yourselves a girl that'll cook for you, drink with you, and play/watch sports with you.

I have 2 of 3.  She cooks, watches sports (bats/Saints fan) She drinks, I don't.  So if I drank, 3/3.

 

i also cook, fwiw.  Because I love to cook.

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2 hours ago, ixcuincle said:

"why bother you arne't going to win" 

 

Well, of course not. But 600m dollars. 600 ****ing million dollars. Do you know what you could do with 600 million dollars? You could retire. At age 24. Seriously. 

With that kind of money I wouldn't need or want to make it earn more (I.e invest it and make it grow). But where do you park it? Just a regular Joe Schmoe savings account?

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What people don't take into account is that taxes takes a big chunk of that, and you don't get it all at once. You can either take a lump sum of a significantly less amount, or take regular annual installments. Personally I'd rather have the regular installments if I ever were to win, its nice to know i have a guaranteed $100K every year and can just relax the rest of my life. But again, I don't play that non sense, because I know it'll never happen.

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3 minutes ago, Warhead36 said:

What people don't take into account is that taxes takes a big chunk of that, and you don't get it all at once. You can either take a lump sum of a significantly less amount, or take regular annual installments. Personally I'd rather have the regular installments if I ever were to win, its nice to know i have a guaranteed $100K every year and can just relax the rest of my life. But again, I don't play that non sense, because I know it'll never happen.

Take the lump sum and let it accrue interest or invest it.

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1 minute ago, PokerPacker said:

Take the lump sum and let it accrue interest or invest it.

Don't get it. Not for me. You take home $400 million that's more than I could spend in 3 lifetimes. 

 

When yiu invest theres return and also risk.you hit a 2008 event and you lose 60% of your value? No thanks.

 

i accept that risk with my 401k because it won't grow otherwise. With the largesse you've already hit the number you are trying to build. 

 

Imo, that point it's more about wealth preservation. 

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Lump sum and after taxes, I would take half of that and set up a foundation, and have my daughter run it if she wants. Give grants for abortion services, voter registration services, female only lands, and Meals on Wheels.

 

The other half would be set up into trusts to buy houses for family and to pay real estate taxes and insurance, another trust to buy rental properties for passive income, and an RV for me, a property in Michigan for a summer home. 

 

Then I would travel.

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