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Stat$talker

700 light yrs West of Milky Way Galaxy's Center
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Jun 4, 2021, 9:28 am

Quote: Originally posted by GiveFive on Jun 4, 2021
For me personally, wining a large amount of money means freedom.

I'm already retired so I wouldn't be free from a tyrannical boss, but I'd be free to do what I want, with who I want, when I want, where I want etc. I can do that now to a limited extent, but not to the extent I'd like to.

We'd be free of any type of debt we currently have, and so would my immediate family. That alone would considerably raise our quality of life and also my immediate family's. (Our kids are burdened by what I consider to be too much student loan debt because they wanted to go to college)

But there is one thing I wouldn't ever want to be free of. I wouldn't ever want to be free of being a responsible steward of my new found wealth. I'd hire all of the different types of necessary money management professionals to preserve my wealth for the benefit of future generations. Sudden wealth rarely lasts beyond someone's grandchildren. Inherited money usually doesn't make it past two generations. Great grandchildren typically have no idea how much money their great-grandpa had, nor do they know how much money their grandparents and parents recklessly blew. G5

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Speler

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Jun 4, 2021, 12:10 pm

If you win big, don't buy a castle. Get something low in taxes.

If you win big, don't get a big car that uses a lot of fuel. Get a modest car that is low in costs.

If you win big, don't get an expensive w...
Unluckyone

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Jun 10, 2021, 1:50 pm

Quote: Originally posted by Coin Toss on Jun 1, 2021
To quote a guy I was in the Army with

Buy a Harley

Never spend another day working for someone else

Look up everyone I did work for!

/////////////////////////////////////

Not sure about not quitting work or seeking part time work, once word got out that you won a lottery............

I'm with you on this!
Unluckyone

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Jun 10, 2021, 1:54 pm

Quote: Originally posted by Speler on Jun 4, 2021
If you win big, don't buy a castle. Get something low in taxes.

If you win big, don't get a big car that uses a lot of fuel. Get a modest car that is low in costs.

If you win big, don't get an expensive w...

If you win big you can purchase a dream house or a gas guzzler like a Ferrari because I doubt you would be concerned the price of gas. I would draw the line on a castle, private Gulfstream jet or a super yacht .
Karen Nathan

Miami Florida
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Jun 10, 2021, 2:09 pm

Quote: Originally posted by Unluckyone on Jun 10, 2021
If you win big you can purchase a dream house or a gas guzzler like a Ferrari because I doubt you would be concerned the price of gas. I would draw the line on a castle, private Gulfstream jet or a super yacht .

A Castle to me seems STUPID to me, I agree. MOST People have only about FIVE People living in their house. Two Parents and three children. Growing up, it was me, my two Parents, and my two Sisters living in the house. MANY houses are like this. A Castle makes zero cents(Sense, LMAO, I love puns! :D) in MOST People's living arrangements. A three or four bedroom house is ideal for MOST People. One room for the Parents, one for a child, usually the oldest, one for two children, MAYBE a spare guest room. That is only 4 bedrooms. Okay, now, in My house, we now have 5 rooms as we split the house into a Duplex. An extra bedroom for our extended family. Our house is now 5 bedrooms rooms. My Nephews Room, my Parents Room, a guest room, and my Cousins(A Mother with two young children) room is 5 rooms which is enough. A Castle, which rooms start at 23 rooms is STUPID for most People.

"What's your ADDRESS?" May be the CREEPIEST question EVER asked to a Lottery Winner! O.O WTF?

At first, I found the one digit away draws kind of amusing, but now I am PISSED! 15 or 16 times I was off by just one digit in recent times!🤬 No longer find this amusing, it's making me REALLY angry now!🤬
Unluckyone

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Jun 10, 2021, 2:10 pm

I have an acquaintance who is self made and uses a family office to watch over and give advice on every facet of their life, this would include real estate, investments, charitable foundation, vacations, estate planning just to name a few.

if I was ever fortunate enough to amass a +$50 million fortune I would seek out the same thing.
Karen Nathan

Miami Florida
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Jun 11, 2021, 11:07 am

Quote: Originally posted by Unluckyone on Jun 10, 2021
I have an acquaintance who is self made and uses a family office to watch over and give advice on every facet of their life, this would include real estate, investments, charitable foundation, vacations, estate planning just to name a few.

if I was ever fortunate enough to amass a +$50 million fortune I would seek out the same thing.

That could be bad if some Burglar finds your Friends Office in his or her Home and steals these. I'm assuming that by "Family Office," you mean an Office that is in your Friend's HOUSE....

"What's your ADDRESS?" May be the CREEPIEST question EVER asked to a Lottery Winner! O.O WTF?

At first, I found the one digit away draws kind of amusing, but now I am PISSED! 15 or 16 times I was off by just one digit in recent times!🤬 No longer find this amusing, it's making me REALLY angry now!🤬
GiveFive

Florida's West Coast
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June 10, 2010
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Jun 12, 2021, 8:12 am

Quote: Originally posted by Karen Nathan on Jun 11, 2021
That could be bad if some Burglar finds your Friends Office in his or her Home and steals these. I'm assuming that by "Family Office," you mean an Office that is in your Friend's HOUSE....

Not quite. A Family Office is a company, not a room in someone's house. Most wealthy people hire one, but those who aren't wealthy probably aren't familiar with the term "Family Office".

Family Offices are full service private wealth management advisory firms that serve ultra high net worth individuals and their family. Most very wealthy people hire a "Family Office" to handle budgeting, charitable giving advice, insurance needs, preparation of income taxes, wealth transfer etc. Some Family Office firms employ a team of professionals like lawyers, accountants, insurance people, and investment professionals to preserve and protect the rich guy's wealth. Some Family Offices have just one client while others serve many clients.

There is also something known as a "Single Family Office". They work exclusively with one very wealthy client. G5

Play Smart! That's IF there is such a thing as playing smartly!!
Unluckyone

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Jun 12, 2021, 4:14 pm

Quote: Originally posted by Soledad on Jun 2, 2021
Pay taxes

No need to worry about that as the tax man will get a huge chunk of the payout before the actual winner gets their share.
Elizabeth03

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December 27, 2004
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Jun 14, 2021, 5:58 pm

I would not tell anybody right away!
JeetKuneDoLotto

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November 27, 2014
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Jul 15, 2021, 2:05 pm

Quote: Originally posted by Karen Nathan on Jun 1, 2021
It's an age old question regarding the Lottery. put "Big," at the last second because I know there might be smart alecks who might answer something like,"I bought a scratch off ticket for $2, and won $5, and took that $5 and bought a fast food meal with it!" LMAO! :D

If I won the BIG Lottery such as Jackpot Triple Play, Powerball, Megamillions, Lotto, I would help out my Family, donate to Charities I actually believe in, work part time (Lots of People make the HUGE mistake of quitting their jobs entirely when Winning the BIG Lottery, and forget there's no more money coming IN after winning the BIG Lottery. A part time job would still bring money IN),buy modest cars like Toyotas.

I'd probably keep my modest house as it's a REALLY good house. I'd travel to exotic places as a way to have extra fun, buy fancy food. I REALLY doubt I'd go out and buy flashy things like expensive jewelry as I am not like that today and jewelry never really appealed to me. I'd make sure there was money to last me my whole life and at least two Generations after me. :)

What about you? :)

If I won the big lottery i would buy a BIG Mac, and a very big Milkshake and a small fries. (Have to watch the carbs.)

After that I would buy like all of Hunter Bidens art, because he deserves the money and because I would hate to miss out on the deep hidden meanings in his art that explain his deep philosophy of life and cheese.

After that I would build a spaceship, because earth is going bonkers.

P.S. Sorry Mask Nazis, I am NOT wearing a mask on MY spaceship.

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