A Thousand a week 4 life.

[Shalla]

My co-workers and I heard about this young 1st year college student or so winning the lottery, I think he's from montreal. How he had this big grin on his face from the picture taken for the news paper. Not that I have anything against old people winning the lottery every damn time, and be like.. oh I'm paying my grand-childrens' education and shiznit, and buying them a house blah blah..not that there's anything wrong with that, but shit.. do something extravagant and out of this world! It's nice, whatever but it's very refreshing to see a young student actually win it I heard he was going crazy! like hooting and everything, he was given a choice whether to have a thousand a week 4 life, or be given the cash upfront by predicting his mortality. He apparently chose the 1k a week 4 life.. I can just picture him now, like after a week of partying, shyet you guys.. I'm broke.. but hey.. it's another friday and yep, I'm rich again. Ching ching!

What would you do if you won the lottery?

[Apotheosis]

would probably finish my degree, find another arts college to attend (for grad school), live modestly, and then when I am done, invest in a design firm. I would also travel.
And help my family (parents) survive retirement, and my sister finish college without struggling too much.

Beyond that, not sure. Guess updating the wardrobe and buy a sports car would be the last two things I do.

[Chelle]

As for me I would travel. Build a home that I designed myself. Help family, and have some fun. :D

[Edited on 6-10-2005 by HarmNone]

[Skeeter]

1k a week isn't much.
also...inflation is going to straight fuck this guy in the ass. He's a fucking moron for not taking the cash up front and investing it.

[Apotheosis]

He can probably invest what he makes now, but will probably waste it on booze and loose women.

[Wezas]

I've got to agree with Skeeter. I know plenty of people struggling in this area that take home about 1k/week.

Lump sum, all the way. You take the tax hit and deal with it.

[Ebondale]

Originally posted by Wezas
I've got to agree with Skeeter. I know plenty of people struggling in this area that take home about 1k/week.

Lump sum, all the way. You take the tax hit and deal with it.

At least then you can invest it in businesses and real estate with cash and watch its value grow.

[Wezas]

Originally posted by Ebondale
At least then you can invest it in businesses and real estate with cash and watch its value grow.

That's definately what I'd do. Real estate is rediculous in Northern VA. If I had a million+ to spend I'd buy 3-4 townhouses in the outlying areas and watch my money grow.

[Groldar]

Funny thing is the only way 3/4th's of you, if not more, will ever have money.





LIKE ME

Is if you win the lotto! HAhaha

[Ebondale]

Originally posted by Wezas

Originally posted by Ebondale
At least then you can invest it in businesses and real estate with cash and watch its value grow.

That's definately what I'd do. Real estate is rediculous in Northern VA. If I had a million+ to spend I'd buy 3-4 townhouses in the outlying areas and watch my money grow.

The place to buy real estate would be out in Ashburn (Loudon County) where the prices are still low and the area is growing up really fast.

[Atlanteax]

Originally posted by Ebondale

Originally posted by Wezas
I've got to agree with Skeeter. I know plenty of people struggling in this area that take home about 1k/week.

Lump sum, all the way. You take the tax hit and deal with it.

At least then you can invest it in businesses and real estate with cash and watch its value grow.

Pretty much what I'd try to do.

All I would need is $1m after taxes, and I'll be set for life.

[Ebondale]

Originally posted by Atlanteax

Originally posted by Ebondale

Originally posted by Wezas
I've got to agree with Skeeter. I know plenty of people struggling in this area that take home about 1k/week.

Lump sum, all the way. You take the tax hit and deal with it.

At least then you can invest it in businesses and real estate with cash and watch its value grow.

Pretty much what I'd try to do.

All I would need is $1m after taxes, and I'll be set for life.

Thats the plan. Buy a couple of four-plexes or six-plexes and use the rent money to finance additional real estate as well as cover the mortgages you already have.

[The Ponzzz]

Yea thats what i make a week before taxes. Actually to be exact is $1009.2 a week and with a lil'child support and a small lawyer garnishment each week, I feel like I make shit...

If I had an additional 1000 income however from the lottery I would just invest 75% of it and then just use the other cash for home improvements for awhile...

[DeV]

Originally posted by Wezas
I've got to agree with Skeeter. I know plenty of people struggling in this area that take home about 1k/week.

Lump sum, all the way. You take the tax hit and deal with it. :yeahthat:

Yeah but he's from montreal

that's like a halfpence a week :(

[AnticorRifling]

Is that 1000 Canadian? Because that would suck to win a lottery and only get 100 US a week.


I'd take the lump sum, get my Aston Martin, pay off my house, and invest the rest.

[SpunGirl]

Agreed with the lump sum folks. I'd buy some investment properties, buy myself a modestly awesome house and the car I've wanted since I was 18. Then I'd travel everywhere I ever wanted to go, whenever I felt like going.

-K

[Atlanteax]

Originally posted by AnticorRifling
Is that 1000 Canadian? Because that would suck to win a lottery and only get 100 US a week.


I'd take the lump sum, get my Aston Martin, pay off my house, and invest the rest.

:lol:

Yea, there's probably no point in winning a Canadian lottery... :lol:

[SpunGirl]

I'd also buy property internationally. I saw a villa by the ocean on Mykonos advertised the other week. It was like a zillion drachmas, which translates to like 80k USD (it was a small villa).

-K

[xtc]

Originally posted by Atlanteax

Originally posted by AnticorRifling
Is that 1000 Canadian? Because that would suck to win a lottery and only get 100 US a week.


I'd take the lump sum, get my Aston Martin, pay off my house, and invest the rest.

:lol:

Yea, there's probably no point in winning a Canadian lottery... :lol:

Unlike US lotteries, most Canadian lotteries pay out a lump sum and are tax free.

[Killer Kitten]

As a college kid I'd have taken the 1k a week, then continued with what i was doing and just banked it. It would accumulate quickly, then I could invest it. Not financial wizardry, perhaps, but I'd have come out quite comfortable.

At my age now I'd take the lump sum. Pay off the mortgage, put some into high yield CD's for future vacations, then use most of it to rescue animals. Hell, that's what I do with my money anyway.

Oh yeah, and I'd get a new car. This freaking Jeep I have is a total dud. I'd probably get another Ford Explorer, that was a perfect car for me.

[xtc]

If I won a lottery that paid out a lump sum like lotto 649 or Super 7, I would invest the money. The Toronto real estate market is pretty hot right now, I would buy a few more properties in trendy areas, renovate the properties and sell them for up to double what I paid for them.

[Vixen]

I'd definitely take the lump sum. Invest some of it wisely, put some of it in savings for my son.
Definitely pay off all the bills incurred from this pregnancy, and build us, as Spun said, a modestly awesome house, with a not so modestly awesome yard where I could have a pool and my son could play in safety. My car is not that old,2002, and its paid for completely, so honestly unless I traded that sucker in for a bigger more baby friendly car, I'd keep that for a while longer.

[theotherjohn]

Originally posted by Lady Shalla
He apparently chose the 1k a week 4 life..
What would you do if you won the lottery?

Hope it is more than 1k a week. I cant maintain my current lifestyle with that amount

[Ebondale]

Originally posted by theotherjohn

Originally posted by Lady Shalla
He apparently chose the 1k a week 4 life..
What would you do if you won the lottery?

Hope it is more than 1k a week. I cant maintain my current lifestyle with that amount

So use it to supplement the income you get from actually working a job? 1000 bucks a week makes for some sweet spending money aside from what you make on the job to live on.

[AnticorRifling]

Really?

I can, and do. But I'm currently at the low end of the middle class field. I'd love to be earning 1k a week. Then again the cost of living here isn't all that high.

[theotherjohn]

Originally posted by AnticorRifling
Really?



Remember we both just bought houses. except mine is a little larger.

throw in for me
2005 BMW
everything biggest and best for the new home

and yeah I spend some money monthly

[Ebondale]

Originally posted by theotherjohn

Originally posted by AnticorRifling
Really?



Remember we both just bought houses. except mine is a little larger.

throw in for me
2005 BMW
everything biggest and best for the new home

and yeah I spend some money monthly

So 1000 a month could pay off a credit card pretty quickly. Help you to establish some more credit and maybe lower a mortgage payment?

[AnticorRifling]

True true. Like I said I'm currently low end middle class :cool: One day I'll be able to afford my tastes.

[AnticorRifling]

It's 4k a month, 1k a week unless I misread it.

[AnticorRifling]

Went back and looked it's 4k a month. That's about what I look at with me and the wife.

It's enough for the house, two cars, etc. But I've got bigger things planned I just need to get off my ass and start working towards them.

[theotherjohn]

Originally posted by AnticorRifling
True true. Like I said I'm currently low end middle class :cool: One day I'll be able to afford my tastes.

When I was in the desert, I decided that "one day" had arrived

[Ebondale]

Originally posted by AnticorRifling
It's 4k a month, 1k a week unless I misread it.

Thats what I meant, not 1k a month.

[Skeeter]

It definately depends on where you live. 1k/wk in vegas area is different than 1k/wk in Louisianna.


I'm still taking the lump sum.

[Ebondale]

Originally posted by Skeeter
It definately depends on where you live. 1k/wk in vegas area is different than 1k/wk in Louisianna.


I'm still taking the lump sum.

If someone had a gambling problem then at least that would be 1000 a week that they could go play with, though.

[Soulpieced]

First off, you are supposed to take the lump sum (the magic of compound interest). Second, I would get a reasonable car and buy a house, invest smartly and hope to live off the interest.

[KymberlynX]

Exactly how much would the "lump sum" have been?

If 1k a week for life equates to more, I would go with that instead.

[Sylph]

If I won the lottery I'd take a lump sum and put it into real estate and short-term mortgages through my uncle's finance company.

[Apotheosis]

i would also buy a really really large slurpee

[Ilvane]

Hell, 1000 a week would be great right now. I make a bit over 700 now, and it would help to have that extra cash.;)

-A

[Edaarin]

Assuming you win this lotto at 25, you live to be 75, and you assume semiannual compounding at an effective rate of 5% (which I think is pretty conservative), lump sum payment would be a little under $1,000,000.

It'd be nice to have, but you'd be an idiot not to take the lump sum money and invest it.

[KymberlynX]

I don't know...I think it would be nice to know that no matter what you do, you will get 1,000 every week for the rest of your life. In time you could save enough to invest once you got some of the initial spending out of your system.

[Ebondale]

Originally posted by Edaarin
Assuming you win this lotto at 25, you live to be 75, and you assume semiannual compounding at an effective rate of 5% (which I think is pretty conservative), lump sum payment would be a little under $1,000,000.

It'd be nice to have, but you'd be an idiot not to take the lump sum money and invest it.


Err...

$1000 * 52 (weeks in a year) = $52,000.

$52,000 * 50 years = $2.6 Million dollars.

[4a6c1]

Lump sum winnings. And then bank it. Let it fund a lifestyle for a little while.

[KymberlynX]

Originally posted by Ebondale

Originally posted by Edaarin
Assuming you win this lotto at 25, you live to be 75, and you assume semiannual compounding at an effective rate of 5% (which I think is pretty conservative), lump sum payment would be a little under $1,000,000.

It'd be nice to have, but you'd be an idiot not to take the lump sum money and invest it.


Err...

$1000 * 52 (weeks in a year) = $52,000.

$52,000 * 50 years = $2.6 Million dollars.

That's exactly what I was thinking, not to mention if your family has a propensity to live longer, you'd make a lot more.

Even me, at 37, if I lived as long as my grandparents I would be making 1k per week for possibly 59 years.

That's why I'm wondering what the lump sum payout would have been.

[Back]

I’d devote a few years to college, travel around the world, become a philanthropist of the arts and music, donate a large sum to the Red Cross, then start my own design agency.

Actually, this made me realize I could start a philanthropic design agency whose profits went to charity... hmm.

[Edited on 6-10-2005 by Backlash]

[Insodus]

Originally posted by Lady Shalla
What would you do if you won the lottery?

Buy all of Tsin's gear.

[Edaarin]

Originally posted by Ebondale

Err...

$1000 * 52 (weeks in a year) = $52,000.

$52,000 * 50 years = $2.6 Million dollars.
Yes, but...


Originally posted by Edaarin
Assuming you win this lotto at 25, you live to be 75, and you assume semiannual compounding at an effective rate of 5% (which I think is pretty conservative), lump sum payment would be a little under $1,000,000.

There's a time value to money. A dollar today is worth more than a dollar tomorrow due to things like inflation and foregone interest.

Breaking down this weekly payoff thing...let's say you have $1,000,000 and you invest it all and earn a return 5%. However, you're not allowed to touch that $1,000,000. So the only income you have at year end is the $50,000 you earned from investing the principal. That's about $1k a week.

[Edited on 6-10-2005 by Edaarin]

[Prestius]

A good friend of mine from work wn the California Lottery a couple of years ago. 189 million split 3 ways.

Their share: $63,000,000
Lump Sum: $32,000,000
After Taxes: $22,997,234.63 (I saw the actual check - funny story, the CA State Lottery mails the checks to the winners. Like -- US Postal Service guy in a little blue truck sticks a 23 million dollar check in your mailbox out at the street. My friends requested them to deliver it to the local lottery office where they picked it up in person).

Investments:

Bought a $5 million house for cash.
Put $5,00,000 in tax-free munis
Spread $5,000,00 across an articulated low-growth stock portfolio
Took $1,000,000 to play with.
Invested the rest in a range of low-interest securities.

They are smart, fun, great people in their late 40's who are having a blast. Couldn't have happened to nicer people (except me, of course)



-P

[longshot]

4 words:

Lump Sum Costa Rica.

[Iqxero]

In any normal lottery I would be lump sum all the way, and probably this one. Except for the fact that when you take the lump sum from lucky for life, THEY determine how long YOU are going to live.

Fat, that's 10 years, smoke, there's 20. You drink any? 15. Anybody in your family every die? Yup, 10 more. So, according to our calculations your going to live to be 45. Your 20? here's a check.

At 97 you'd be pretty pissed you didn't take the weekly checks.

Now, that only applies to me, if your 5'6 110 pounds don't know how to spell "smoke" and only drink filtered water, you might like your lump sum, but I doubt they are fair in giving it out.

[Edited on 6-11-2005 by Iqxero]

[Xcalibur]

"Gagnant à vie", that is the name of the loto.

You win either 1,000 a week till your retreat OR you win around 550,000$.

For anyone healthy, the first option is the best.

[Asha]

I'd have a morphine habit.
Mmmmm.

:)

[Kainen]

Take the lump sum, buy my parents and me nice houses, start a college fund for my son, then go buy clothes for my son.. a lot of clothes hehe.

[Jazuela]

$1000 per week if it's tax-free. I could easily live off a large percentage of that and bank the rest, and have a tidy sum by the time I'm old enough to collect social security.

$750 per week would be enough to cover the mortgage, utilities, cable/DSL, groceries, medical insurance.

This is to cover 2 people, married, living in the same house.

Bank $250 per week x 52 weeks - that's $13,000 per year. Invest $10,000 per year, use the other $3000 yearly plus interest earned during the year for emergency, vacation and petty cash expenses.

The $10k per year becomes $100,000 after only 10 years, before interest. After interest it's around $150,000 with the current standard savings account interest rates. At 20 years it's around $400,000. By then I'll be collecting social security, so will hubby, and the $400,000 will cover anything the $1000 per week doesn't cover anymore due to inflation.

Sounds good to me.

[longshot]

Originally posted by Jazuela

BLah blah blah

Sounds good to me.

Working at Burger King also sounds good to you.

I'm not impressed.

[Edited on 6-11-2005 by longshot]

[Latrinsorm]

This coming from the guy who willingly went to a country where kids would try to shove their fingers in his butt.

[Delirium]

Id take the 1k/week most definately. I have no faith id invest wisely and would feel much more secure if i knew that no matter how bad i screwed anything up financially within 7 days id have some money. Imagine how depressing it would be to win the lottery and then become broke in a couple years. Ive heard stories of that happening. I could EASILY live on 4k/month. I dont have expensive tastes in very many things. Id much prefer to live in a small town with cheap rent and few people than have to deal with so many humans and on top of that have to pay way more to live. Guess it all depends on the person.

[Suppa Hobbit Mage]

Assuming I won a big lottery (like set for life with lump sum -- I already make more than 1k a week after taxes), I'd travel probably off and on for a good year, then settle down to once or twice a year big trips. After my initial year of spending, I'd then go to culinary school, and open my own restaurant.

[Jazuela]

Working at Burger King works great for me because I don't 'have' to work anywhere else. Ever wonder why, Longshot? Here's a clue:

1) Hubby has a solid job that pays all the bills
2) I learned how to invest wisely from the time I was 12.

If I never work a day again in my life, while I might not always have "cash" to spend at the Mall, I will never have to worry about finances. Call me "comfortably retired" at age 44.

That's why I work at Burger King. Because I CAN.

[Back]

Burger King rocks for fast food. I just wish they’d bring back their Jack-In-The-box-like tacos.

[Trinitis]

No body works at BK because they want too. Don't try to push that off.

If you were stable enough to not NEED the job, then you should be looking for a better job.

[Jazuela]

Uh, I don't want a "better" job. The job I have has the hours I want to work, at the times I want to work them, giving me the pocket money I like to have, and is close enough I can walk or ride my bike when the weather's nice. Plus I get 50% off food, and my husband loves the stuff.

I have a great boss who is accommodating and gives me extra hours when I ask for them, or lets me leave early if one of the other girls is available to cover the rest of my shift if I don't feel like sticking around that day. Most of my co-workers are young students with all kinds of crazy notions about life, and it's refreshing to hang out with them when we're working.

The girls in the back on set-up all speak Spanish, and I get to learn the language while I'm there. We kid around a lot, play pranks on each other, joke with the customers, take breaks with the regulars...and work like dogs when the lunch rush comes, and work like this well-oiled machine as a group.

It's fun, it's very little responsibility, it's easy, and it's close to home. What kind of job would anyone consider "better" than that?

[Trinitis]

One that does not involve working in greasy ass conditions with nasty food serving asshole customers. All while working a job that is pretty much bottom of the food chain for income.

Sounds exciting.

You could find a better paying job, working in better conditions, doing something to improove you and your life.

Hell, Sign up for part time college! Learn something new. Most colleges have an on-campus work program for students. They give very flexible hours, and the pay is still better then a fast food joint.

At least make an effort to improove in life.

[longshot]

Originally posted by Jazuela
Working at Burger King works great for me because I don't 'have' to work anywhere else. Ever wonder why, Longshot? Here's a clue:

1) Hubby has a solid job that pays all the bills
2) I learned how to invest wisely from the time I was 12.

If I never work a day again in my life, while I might not always have "cash" to spend at the Mall, I will never have to worry about finances. Call me "comfortably retired" at age 44.

That's why I work at Burger King. Because I CAN.

Yes, you can. So can retarded people.

You're so crazy. Do you wake up in the morning, look in the mirror, and go, "Wow, I'm one crazy fucking bitch!"

In case you've forgotten your own reality, I've taken the liberty of pulling some quotes from your past posts.

Taken from Edine's "308,000" thread, which is a masterpiece in itself...


Originally posted by Jazuela
Age: 43
Gender: female
Handicapped (hearing impaired and degenerative disk disease/spinal problem)
Education: College graduate with BS, Major -and- minor, with post-graduate studies. Also A+ Certified Computer Technician, Certified Clinical Aromatherapist, Certified Mixologist (bartending school), and dozens of college-credit independent courses in a myriad of topics, which if I wanted to, could be applied toward a Master's Degree but I'd need another course plus one thesis to complete. I take courses for their own sake, to learn, not to "get ahead."
Job history: Been working since 1977, mostly retail/customer service and secretarial/clerical. Have two published articles in newspapers.


Clinical Aromatherapist... nice!

Two articles in the Newspaper... wow! You're the next Paul Krugman.

What else can we mine from this gem...


Originally posted by Jazuela
Unemployed since July 2003

Well, this thread was originally from April of 2004. I guessing you must have been holding out for a rare opening at BK. It's a good thing you turned down McKinsey...


Originally posted by Jazuela
Job must either pay well enough to justify the expense of driving there (I can't afford to buy a new vehicle, so my 11-year-old 20-mile/gallon SUV is it), or must be within a 10-mile radius to home if minimum wage or similar.


This sounds like someone who has managed their money very well...

You CAN work there... because it's the only place that will employ you. Let's not kid ourselves, okay?

[Jazuela]

Erm, I already went to college. I graduated in 1983. And yes, I was unemployed for awhile. I didn't make enough of an effort to find anything because I didn't really need to, and lacked motivation. I couldn't afford to pay CASH for a new SUV - but I did replace it a few months ago with a 2001 model. And we got our roof replaced, and we're doing renovations on the house, and we had to replace my husband's car. All in the same year.

That's why I couldn't afford anything THEN - because I had to handle my investments appropriately so I could afford to when I actually needed it. Which I'm doing very nicely. I -could- stay home and be a housewife. But I was never the housewife type (I even tried to be while I was unemployed - I hated it).

So - what have you accomplished in your life Longshot, other than being a bully on a fantasy game forum?
But thanks for your concern.

[HarmNone]

Let's get back on topic. This isn't about Jazuela, or Burger King. It's about a lottery winner.

[Edaarin]

$1,000 a week.

My god. That's like 2 new outstanding outfits a week.

[HarmNone]

I can imagine, for a young person, a grand a week could put them through school and, later, make it a lot easier to get started in life. It's nice to think that a young person won this and will have that benefit. :)

[Ebondale]

$1000.00 a week buys a whole shitload of GS silvers on eBay. :lol:

[Back]

A lot of BK too.

[Fengus]

No wonder many of you are poor. Always take a lump sum because no matter what you do with it you will earn better than a lottery commission is "estimating". The way lump sums work is simple, the winning amount is awarded over a lifetime so while the lottery may be 1M, only 400k invested at 5% for 20 years is needed to supply that lottery. And in this case, if these were the numbers involved your lump sum would be 400k.

The guy in this story is the dumbest person alive. Additionally, despite the fact that he won a lottery, what kinda moron college student plays the lottery?

[Ebondale]

Originally posted by Fengus Additionally, despite the fact that he won a lottery, what kinda moron college student plays the lottery?

The kind that doesn't have to pay their own tuition and book fees. :shrug:

[Anebriated]

Currently ING is at 3%, and Im going to use $1,000,000 for the ease factor since nobody knows for sure what the lump sum equates to.

$1,000,000 * .03 = $30,000 per month

Even if the lump sum is only $550,000 your still walking from the bank with over $15,000 per month.

Good choices on the $1,000 a week though...

[Skirmisher]

You forgot to divide by twelve there.

It's still over one thousand, just not quite as vast a difference as you stated.

1375.00 per month using the figures you provided.

[Gigantuous]

Lump sum. Give 3/4 to my parents, take the rest and jet to somewhere where I could do tons of drugs in peace, for the rest of my life.

Given enough money, the rest of my life would be roughly a month.

Not a smart plan, not a good dream, but fuckit, it's my ideal way of going out.

[Ebondale]

Originally posted by Gigantuous
Not a smart plan, not a good dream, but fuckit, it's my ideal way of going out.

Humm.. my ideal way has always been to go out in a hail of Police and federal gunfire on the 6 o'clock news... I guess we all have our goals. :)

[Apotheosis]

Originally posted by Ebondale

Originally posted by Gigantuous
Not a smart plan, not a good dream, but fuckit, it's my ideal way of going out.

Humm.. my ideal way has always been to go out in a hail of Police and federal gunfire on the 6 o'clock news... I guess we all have our goals. :)


and i've always wanted to go out in a knife fight with a columbian drug gang. :(

[Ebondale]

Originally posted by Yswithe

Originally posted by Ebondale

Originally posted by Gigantuous
Not a smart plan, not a good dream, but fuckit, it's my ideal way of going out.

Humm.. my ideal way has always been to go out in a hail of Police and federal gunfire on the 6 o'clock news... I guess we all have our goals. :)


and i've always wanted to go out in a knife fight with a columbian drug gang. :(

Pfft... Columbians use shivs. Not knives.

"Gosh!" - Napoleon Dynamite