powerball rolls

Reply #14

guesser — Tue, 23 Jan 2007 20:16:45 GMT

'Live on' and 'spend' are two totally different things.

I have no problems 'living on' 100k a year: I buy my $400,000 house - it's paid for. Furnishings - paid for. Cars - paid for.

So what I now 'live on' is what it takes to pay house taxes, phone, cell, gas, electricity, insurance, cable tv and so on.

And from another posting, I'm not into making my children or grandchildren 'wealthy', it leads to 'lazy'. I'll fund their education, but beyond that, they can earn a living just like t... [ More ]

Reply #13

grengrad — Tue, 23 Jan 2007 18:51:57 GMT

I have played the market a fair amount, and I enjoy it, which is why my formula has part of the money available just for me to play with, which would not be a full time job. The majority of the money would be in funds that were not managed by me and would only require a minimal amount of time to manage. The way I see it, if I won the lottery, I would want there to be enough money for my grandchildren to be wealthy, so I would be willing to put a little time into it to try to make that more likel... [ More ]

Reply #12

Littlemanjen — Tue, 23 Jan 2007 14:48:24 GMT

Hey XMSR3....are you serious? If you won 240M, you would only live on 100k per year?????????????? Wake up and smell the coffee....I would bet 100K that you would not do that if you truly had it in your hands. The temptation would be wayyyyyy too much. Plus, I guess that meeans you would give nothing to some sort of charity and keep it all to yourself? Sorry, just a thought after reading your post. Good luck to all in a Powerball state.

Reply #11

guesser — Tue, 23 Jan 2007 07:17:39 GMT

I DO like your investment strategy, but if you had 'that much' money, you will be fine as long as you don't go whacko.

As far as my comments about spending time babysitting it - that's fine - IF you want that to be your new, full-time job. My investment strategy is simple - when my investments (stocks) make 20%, I SELL and go into cash with them, and then just kinda wait for the next thing I know about. I made many a mistake sitting in a stock after it goes up 25% or more - just waitin... [ More ]

Reply #10

grengrad — Mon, 22 Jan 2007 20:49:16 GMT

Fair enough. You have convinced me that cash is better.

Now, I just need to buy the winning ticket.

Reply #9

ryanm — Mon, 22 Jan 2007 13:15:23 GMT

I'd definitely have to invest a lot in gold if I won Powerball, due to the dollar's likely demise in the next 30 years. Gold is the only stable "currency," and it does not appreciate or depreciate - only the currencies used to purchase it do.

Reply #8

Prob988 — Mon, 22 Jan 2007 13:10:11 GMT

Grengrad:

Yours is one of the best and most sensible posts I've ever seen here.

My only disagreement is that I would take the cash because I don't expect the dollar to be worth that much in the long term. The national policy has been a drinking binge and someone needs to pay the bill. Thus I'd have a hell of a lot more overseas. I'd also buy some real estate in distressed markets.

I'd learn to say no to people who wanted big cash gifts. But I would help people with... [ More ]

Reply #7

guesser — Mon, 22 Jan 2007 06:50:11 GMT

Grengrad, you think too much.

At 25, how much money will it take for you to live the rest of your life, let's say to age 85, at $75,000/year.

The answer is 4.5 mill.

So take the cash, put 4.5-6 mill in some SAFE things and be done with it, then relax and enjoy the rest.

You can do what you outline above, but to me, if I did that, it reeks of having to babysit it every day, and I don't want to do that.

I would go to Fidelity and Schwab, throw it in 4-6 funds that do kinda what you... [ More ]

Reply #6

grengrad — Mon, 22 Jan 2007 06:13:14 GMT

I think if I won, and took the cash my formula would be something like:

10% Spend on One-Time gifts to family and friends (I cannot emphasize one-time enough)

3% Spend in first year on self

3% in self-controlled portfolio so I can have some fun investing without a large risk.

3% in Gold stored abroad

11% in Cash in Euros stored abroad

6% in Cash in GBP stored abroad

4% in Cash in USD stored in the USA for a rainy day

20% Long Term Bond Funds (Spread across 4 major inves... [ More ]

Reply #5

weshar75 — Mon, 22 Jan 2007 04:59:06 GMT

I agree with you Guesser about having any Powerball jackpot. Big or small. I would just like to be able to say I won and had some fun with the money and did what I wanted with the jackpot.-weshar75

Reply #4

guesser — Mon, 22 Jan 2007 04:40:11 GMT

How much is enough ?

I honestly am not picky - I'd take 240 mill, or 15 mill, either amt I can retire on, and so can you.

If I were to win it, I'd put some in investments, spread some across several bank accounts (multiple FDIC insurances then), and I'd put 5-6 mill in a place I can't get to it for 5 years, then I'd spend the rest, and create some charitable trusts.

Then I'm going to enjoy spending the rest of it, and I'm NOT going to babysit it, life is too short, the LAST thing I wa... [ More ]

Reply #3

Guru101 — Sun, 21 Jan 2007 21:54:03 GMT

I'm gonna win!!!!!!!!!!!!!!!!! Ha ha

Reply #2

xmsr3 — Sun, 21 Jan 2007 06:22:21 GMT

Cash option in MN after taxes is now slightly over $77 million.

Put that in a good money market, such as Washmutual or HSBC direct and you can get 5+% annual interest.

That is about $3.85 million gross first year interest.

year 1 annuity payment is nearly $4.3 million.

Thus the smart thing to do is take the annuity payment, live on a comfortable $100k/year and invest the rest into the money market fund.

Then divide the net interest each year into 2. Take one half and reinvest

Reply #1

ryanm — Sun, 21 Jan 2007 06:19:17 GMT

Powerball's cash jackpot is $114 million. This is the first time its pretax cash option made it over $100 million since April 12, 2006. The last time Mega Millions' cash jackpot was over $100 million was on April 18, 2006.

powerball rolls

fxsterling — Sun, 21 Jan 2007 05:41:39 GMT

$240 million