When you win the lottery, are you prepared to erase..

Reply #36

scentcrazy — Wed, 12 Oct 2016 21:25:45 GMT

Depends obviously on how much I win. Have a list of which friends/family I will pay off debts for depending on the amount I win. Will pay my sister's house off and buy new-to-me cars for mom, dad, aunts (x2), BFF and sister if I win 10 million (after taxes) or more. Will pay off BFF's student loans also. Pay off half-siblings mortgages with win of 20 million or more. Aunts, mom and dad do not have mortgages.

Reply #35

noise-gate — Wed, 12 Oct 2016 00:02:38 GMT

Sure, it would have to be a good sum in order to arrive at the decision you have come to.

Reply #34

Unluckyone — Tue, 11 Oct 2016 19:28:33 GMT

It depends what I take home after all tax obligations are met.

Reply #33

ArizonaDream — Tue, 11 Oct 2016 17:22:34 GMT

That' a good way of putting it, and exactly how I feel.

Reply #32

LottoAce — Tue, 11 Oct 2016 00:08:44 GMT

depending on how much I win, will determine what I can do.

family and friends that have been there for me through the years.

you bet I will help them any reasonable way I can.

those that have forgot about me, can forget they ever

knew me. they get nothing.

Reply #31

Soledad — Mon, 10 Oct 2016 16:48:27 GMT

Voltaire is an interesting read and story..

Reply #30

Soledad — Mon, 10 Oct 2016 16:34:37 GMT

Haha no they're not funny. They are the fates. The three 'sisters' for lack of a better understanding. They are surrounded by light and strings as hard as diamonds and as bright as gold too. They are only faces from what I can tell. And they do speak even though they know to begin with. They like to ask questions. They are the fates. And they do have scissors. But the scissors are closed. They won't show you them open. Haha. That's just my crazy opinion. Respect. First books I read were on Ancie... [ More ]

Reply #29

music* — Mon, 10 Oct 2016 14:53:34 GMT

Soledad, Who are the Moirai? I am ignorant on this.

I agree with you that easy money tends to grow wings and flies away. Gamblers in 19th Century America faced this fact and intelligent persons who tried to set a better example. Famous authors back then were quoted on how common were the winners who soon lost all their winnings. Just like today.

I bring up the motto, Get rich slowly . But I hope older winners have learned from past life experiences and not blow through their winnings whe... [ More ]

Reply #28

Soledad — Mon, 10 Oct 2016 02:41:44 GMT

God does not preach a quick and easy way to riches. He gave his Son as an example. And still no one listens. Period. He has no control over the Moirai. They are unique and unforgiving. Trust me.

Reply #27

Soledad — Mon, 10 Oct 2016 02:35:55 GMT

I don't think I could erase the thought of owning an Aston Martin. James Bond style lol. Or a 1967 Charger all original. Not to mention a souped up El Camino.. Oh boy I think I would need a very big garage...lol

Reply #26

EdG1955 — Fri, 07 Oct 2016 15:27:08 GMT

I've been waiting that long, too. Maybe this is our year.

Reply #25

Teddi — Fri, 07 Oct 2016 03:10:00 GMT

The question wasn't being posed because noise-gate was ignorant of the gift tax exclusions. He's been in many of the discussions about gift taxes and he's well aware. The question was posed because it's an interesting topic. The responses to this topic of sharing the wealth is always interesting.

As I see it, there are 5 main discussion topics routinely brought up in this Forum:

How to win (formulas, strategies, number tracking, etc) How to remain as anonymous as possible How to keep as... [ More ]

Reply #24

zephbe — Fri, 07 Oct 2016 00:54:12 GMT

Thanks, EdG1955--I wasn't familiar with the lifetime exemption. I still draw the line at $14,000 as a gift of my winnings. I've been waiting 30 years for a jackpot.

Reply #23

EdG1955 — Wed, 05 Oct 2016 23:42:16 GMT

That's not readily apparent from comments such as where do you draw the line? at $14,000 for those I choose to gift some of my winnings and Anything over $14,000 is subject to rape and pillage by the IRS and I have close family and friends a few friends that would get the $14,000 gift . Those indicate some people aren't intimately acquainted with the gift tax laws and don't know about the lifetime exemption.

Reply #22

Teddi — Wed, 05 Oct 2016 16:22:23 GMT

No need for the disclaimer. We're all intimately acquainted with the gift tax laws. Though you did leave out that IRS can go after you if you gift money to people without filing and submitting form 709 itemizing non-charitable

Reply #21

Funtimz — Tue, 04 Oct 2016 17:17:17 GMT

I would draw the line with relationships. I could see myself definitely helping out my sister but not so much my brother...

Reply #20

TheMeatman2005 — Tue, 04 Oct 2016 00:40:57 GMT

When you win the lottery, are you prepared to erase..

The only thing I will be prepared to erase are my old phone number and old address.

The new ones won't be disclosed.

If I want to find you, I will...not vice versa

Reply #19

noise-gate — Mon, 03 Oct 2016 19:16:24 GMT

Cute RJ. Tell you what Old Man l will answer your question when you have something to say about the passing away of a former LP member named Moses. It's still up there for you to respond to.

Reply #18

RJOh — Mon, 03 Oct 2016 15:11:29 GMT

Are you speaking of your LP friends and members of your LP family

Reply #17

EdG1955 — Sat, 01 Oct 2016 23:15:24 GMT

Yes, I would certainly give away some of my winnings. If I won a jackpot with an after-tax lump sum cash value of $100 million, for example, I'd keep $50 million for myself and split the other $50 million among family and friends.

As for taxes, $14,000 needs an explanation. That's the most one person can give to another person per year without a tax obligation. It's called the annual gift exclusion. But there's another thing to consider. If you're married, you and your spouse can each give $1... [ More ]

Reply #16

Artist77 — Sat, 01 Oct 2016 22:30:04 GMT

No. But if the situation was the opposite, I never expected anyone to pay anything for me. If I have a debt, it is my obligation to work and pay it back.

Reply #15

noise-gate — Sat, 01 Oct 2016 16:07:14 GMT

Your Last paragraph is a hoot Teddi.

Reply #14

music* — Sat, 01 Oct 2016 01:13:48 GMT

They can play the lottery just like we do. If God intended a person should have riches then who are we to interfere with The Almighty and do his work. You cannot make everyone's dreams come true.

The word NO is underused today. It is a powerful word.

She who has the gold rules. All others must play her game by her rules.

Reply #13

zephbe — Fri, 30 Sep 2016 22:47:12 GMT

Today I know better. No one is going to die because they have to keep working another 30 years. They planned to, so they can keep with their plans. I'm not going to be a financial fairy godmother.

Reply #12

zephbe — Fri, 30 Sep 2016 22:41:05 GMT

My siblings and I are retired and blessed not to have mortgages or much debt.

Younger people may have different responses.

Reply #11

Teddi — Fri, 30 Sep 2016 19:39:23 GMT

I refuse to go bankrupt for anyone. Especially family and friends . After the recession, I found out who loved me for me, and who had apparently only loved me because I was in a position to help them.

If I'd won a jp 8 years ago, I'd probably be an emotional wreck and bankrupt right about now. Family guilt trips, jealousy, resentment...I'd have given just to get some peace because they are excellent at guilting. And the people I gave to would be the first to call me a moron for losing it all... [ More ]

Reply #10

noise-gate — Fri, 30 Sep 2016 02:20:08 GMT

l have have no words W.

Reply #9

noise-gate — Fri, 30 Sep 2016 02:13:59 GMT

Yeah, especially if you the single winner of a $350 Mil jackpot.. right

Reply #8

noise-gate — Fri, 30 Sep 2016 02:04:10 GMT

Looks like you covered all the bases D. Splendid response, a little bit of something for some, a lot of nothing for others

Reply #7

noise-gate — Fri, 30 Sep 2016 01:58:08 GMT

There is a lot of No's to your response Z. Appreciate your honesty nonetheless.

Reply #6

weshar75 — Fri, 30 Sep 2016 01:48:58 GMT

I have close family and friends a few friends that would get the $14,000 gift. But my mother hit a gold mine if I win powerball because she is my only parent that is alive. So I would spare no expense to keep her happy since I am single.-weshar75

Reply #5

MasterofWisdom — Fri, 30 Sep 2016 01:29:39 GMT

That's smart! Anything over $14,000 is subject to rape and pillage by the IRS.

Reply #4

SilverLion — Thu, 29 Sep 2016 22:07:07 GMT

Why do I have to be prepared for others?

Its my win. I am only currently prepared to erase my own foibles and failings.

Reply #3

LiveInGreenBay — Thu, 29 Sep 2016 21:48:17 GMT

It depends on how much I won. I'm a generous man and funds permitting, I'd help my family and close friends. After all, that would potentially be a drop in the bucket.

Reply #2

Teddi — Thu, 29 Sep 2016 20:26:55 GMT

Well, it will depend on how big my payout is, but if I had more than enough to go around, I'd do student loans and medical bills, because if nothing else, at least I can write those off.

I've considered setting up a fund for family medical expenses, so if they have med bills not covered by insurance, they go to the fund and not to me. It's the only way I can think of to help without being directly harassed. Hope those who have their medical bills paid off and their children set up with colleg... [ More ]

Reply #1

zephbe — Thu, 29 Sep 2016 19:22:03 GMT

The debt of family friends: no

Perhaps paying off the student loans of your close friends. no- my child-yes

Paying off their mortgage- no sibling has a mortgage

where do you draw the line? at $14,000 for those I choose to gift some of my winnings

Good luck and enjoy your weekend

When you win the lottery, are you prepared to erase..

noise-gate — Thu, 29 Sep 2016 17:18:37 GMT

The debt of family friends: Perhaps paying off the student loans of your close friends. Paying off their mortgage- where do you draw the line?

Have a great rest of the week a pleasant upcoming weekend. Above all else: Stay Healthy