Sounds like progress to me.
Happy Haggert Hurried Hungry Hitch Hiking Hired Henchmen Hivers.... apply within
- Thread starter megamania
- Start date
Woot! Nothing like found money...except lottery winnings. 
FWIW, that puts you ahead of my Mom. Her biggest lottery won is $100...which she never got to see, because I spent it.
To be fair, though, I WAS sitting her house & dogs while she went out of town with Dad, and they left an empty fridge and no dog food, so I spent it at the grocery.
FWIW, that puts you ahead of my Mom. Her biggest lottery won is $100...which she never got to see, because I spent it.
To be fair, though, I WAS sitting her house & dogs while she went out of town with Dad, and they left an empty fridge and no dog food, so I spent it at the grocery.
Scott DeWar
Prof. Emeritus-Supernatural Events/Countermeasure
And I bet the groceries were made into exquisite cuisine!
I do not play the lotto at all
I do not play the lotto at all
I only play at Mom's direction, with her money.
megamania
Hero
I've given up on the "Big" Lotteries and stick with the smaller ones. Not enough to retire on but would my life more comfortable. I win better than 50% of the time so even before the 150. I was nearly breaking even.
Still, the greedy bastich in me wants that 52,000 a year for the rest of my life.
Still, the greedy bastich in me wants that 52,000 a year for the rest of my life.
Scott DeWar
Prof. Emeritus-Supernatural Events/Countermeasure
the best thing to do is to take the pay out, at half the value, and invest it in mutual funds. live off of what you can get from work plus holding back about 520,000 to last 10 years
52 k in savings, live off of at athe 1000 / wk - what you made that week
place 52K in a 1 year cd for your next year's wages
place 156k in a 2 year cd - at the end of 2 years place 52k in 2 year again, and 52 k in 1 year cd
place 260k in a 5 year cd - at the end of 5 years reapeat the above sequence.
When you are working, and subtract your wages from 1000 and set that aside, at the end of 3 months place that in mutual funds.
at the end of 10 years, you would have the lotto win, say you got a measly 2.52 million from a 5.04 mill jackpot, you would have mutual funds looking like this:
by the year, approximate 25% interest [conservative guess]
2m start
1) 2,500,000
2) 3,125,000
3) 3,906,250.00
4) 4,888,281.25
5) 6,103,515
6) 7,629,394
7) 9,536,743
8) 11,929,289
9) 14,901,161
10) 18,626,451 + interest from cd's
this would give you 11,500/week for 30 years.
if you are a shrewd investor 40%
2 m start
1) 2,800,000
2) 3,920,000
3) 5,488,000
4) 7,683,200
5) 10,756,480
6) 15,059,072
7) 21,082,700
8) 29,515,781
9) 41,322,093
10) 57,850,931
57 million would give you 37,000 /wk for 30 years.
When I was diversified in 5 levels of risk I still gained some 10% during the dot com bubble burst of 2000
(low/moderate low/moderate/moderate high/high) break down: 30%25%20%15%10% and I had invested 10% with a 2.5% matching fund from the company of my paycheck. The funds ranged from 15% return to 60 % return.
That is my advice on the matter.
52 k in savings, live off of at athe 1000 / wk - what you made that week
place 52K in a 1 year cd for your next year's wages
place 156k in a 2 year cd - at the end of 2 years place 52k in 2 year again, and 52 k in 1 year cd
place 260k in a 5 year cd - at the end of 5 years reapeat the above sequence.
When you are working, and subtract your wages from 1000 and set that aside, at the end of 3 months place that in mutual funds.
at the end of 10 years, you would have the lotto win, say you got a measly 2.52 million from a 5.04 mill jackpot, you would have mutual funds looking like this:
by the year, approximate 25% interest [conservative guess]
2m start
1) 2,500,000
2) 3,125,000
3) 3,906,250.00
4) 4,888,281.25
5) 6,103,515
6) 7,629,394
7) 9,536,743
8) 11,929,289
9) 14,901,161
10) 18,626,451 + interest from cd's
this would give you 11,500/week for 30 years.
if you are a shrewd investor 40%
2 m start
1) 2,800,000
2) 3,920,000
3) 5,488,000
4) 7,683,200
5) 10,756,480
6) 15,059,072
7) 21,082,700
8) 29,515,781
9) 41,322,093
10) 57,850,931
57 million would give you 37,000 /wk for 30 years.
When I was diversified in 5 levels of risk I still gained some 10% during the dot com bubble burst of 2000
(low/moderate low/moderate/moderate high/high) break down: 30%25%20%15%10% and I had invested 10% with a 2.5% matching fund from the company of my paycheck. The funds ranged from 15% return to 60 % return.
That is my advice on the matter.
Scott DeWar
Prof. Emeritus-Supernatural Events/Countermeasure
follow up:
I would have all of your holding as part of an LLC to prevent anyone from being able to take it from you in a frivolous lawsuit
The 'company would pay you to 'manage their holdings and you get paid the money you get. Tehy could provide transportation and living quarters at a portion of your pay. pay for cash where you can, but some things such as a home they would have to do something like take over your morgage or some such.
I would have all of your holding as part of an LLC to prevent anyone from being able to take it from you in a frivolous lawsuit
The 'company would pay you to 'manage their holdings and you get paid the money you get. Tehy could provide transportation and living quarters at a portion of your pay. pay for cash where you can, but some things such as a home they would have to do something like take over your morgage or some such.
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