That's what friends are for, until money is involved.

Discussion in 'Off-Topic' started by nsaspook, Dec 28, 2010.

  1. nsaspook

    Thread Starter AAC Fanatic!

    Aug 27, 2009
    2,908
    2,168
  2. Markd77

    Senior Member

    Sep 7, 2009
    2,803
    594
    Greedy stupid people. They will probably lose more to the lawyers than if they had just split it 8 ways like they should have.
     
  3. retched

    AAC Fanatic!

    Dec 5, 2009
    5,201
    312
    They will learn true greed when they see how their family and friends treat them when they ask for money.

    They will loose their families and friends.

    They will die alone.

    A fitting end to such horrible people.

    Wow.

    I knew 1 "winner" in my life.

    He put his wife through law school as an investment, paid off the house and cars.

    Built a recording studio in his basement and lived.

    His friends, in bands, had a place to record for free. And when the money was gone, the house and cars were paid off. The wife was a lawyer and the friends had no problem paying for studio time.

    That is the way to do it.
     
  4. VoodooMojo

    Active Member

    Nov 28, 2009
    503
    53
    another way is to be humble and accept your position in life.
    Work for and earn that which you receive and achieve.
    A lottery is no more than a tax on poor people.

    having said that, too many are willing to give to you for free
    to prove their generosity or quench their guilt.
    Take advantage thereof.

    roulette is my weakness...
    i guess it is the same as a lottery
    and nothing I own was paid for with roulette winnings.

    time to play the lottery
     
  5. loosewire

    AAC Fanatic!

    Apr 25, 2008
    1,584
    435
    Another way is to be humble and accept your position in life.
    Work for and earn that which you receive and achieve.

    A beauiful line,reminds me of quit while you are ahead.
    We could live by that line. Good thought's.......

    Loosewire
     
  6. thatoneguy

    AAC Fanatic!

    Feb 19, 2009
    6,357
    718
    The best way to ruin somebody's life is to have them win a multi-million dollar lottery.

    They will be sued, borrowed from, stolen from, accused and threatened out of money, in addition to typically blowing a huge chunk of it at the beginning, that they end up in a far worse position than they could have ever been in before winning.

    The ones who won the lottery and did NOT get screwed up did so in the most simple and straightforward way. Tell Nobody except a lawyer that specializes in finance and trusts. There are a few dozen in the US that are highly reputable, the rest are one of the frauds that put you in category A. e.g. Don't call "uncle john the lawyer". Have the law firm anonymously collect the One Time Pay / Lump Sum Winnings and set up a few distributed investments with it, and a trust fund. Then allot yourself an allowance while keeping your job, etc. If you decide to give money to family and let them know, do not buy gifts. Simply have a check for $100k sent to each direct family member, then they cannot sue you for being "unfair".

    Nobody realizes how much people HATE people with money until you have money. Everybody thinks they DESERVE your money, since you have more than they do. It results in stories like the one above. Though in that case, she was given the ticket, and paid for it, so there is no reason she shouldn't get the pre-agreed on split.
     
    Last edited: Dec 28, 2010
  7. maxpower097

    Well-Known Member

    Feb 20, 2009
    795
    388
    .......................................................
     
    Last edited: Jan 16, 2011
  8. thatoneguy

    AAC Fanatic!

    Feb 19, 2009
    6,357
    718
    The entire group should follow the advice in my previous post.

    Losing half off the top isn't too bad if you take 10% out, and put the other 40% into distributed investments. The return is higher, and the state going bankrupt won't interrupt your payments.

    The reason they discount the "lump sum" payout is because they are BANKING on you dying. It's that simple.
     
  9. maxpower097

    Well-Known Member

    Feb 20, 2009
    795
    388
    .......................................................
     
    Last edited: Jan 16, 2011
  10. Markd77

    Senior Member

    Sep 7, 2009
    2,803
    594
    Reminds me of something I read. You are more likely to win the big prize if you buy the ticket on the day of the lottery, because if you buy it in advance there are higher odds of you dying before the draw than actually winning.
     
  11. maxpower097

    Well-Known Member

    Feb 20, 2009
    795
    388
    .......................................................
     
    Last edited: Jan 16, 2011
  12. spinnaker

    AAC Fanatic!

    Oct 29, 2009
    4,884
    1,005
    This is amazing! I was talking about a very similar story with a co-worker today and I did not read this story.

    We had some folks a while back at work that did the same thing. One lady always played but this time she forgot to put in the money. The others refused to cut her in on the winnings.

    Pretty lousy if you ask me. I am not sure I would give her a full cut but at least a percentage.

    I have heard that you should always consult an attorney before even beginning one of these group buy things. When it first gets started it is a lot of fun but as soon as there is a winning ticket, things can turn ugly.
     
  13. retched

    AAC Fanatic!

    Dec 5, 2009
    5,201
    312
    You have to set rules.

    If you are in, you are in.

    Pay monthly.

    The next months dues are due before this months LAST drawing.

    In case of late payments, they are only accepted late if a winning ticket has not yet hit.

    Your numbers are put in when you pay for the next months tickets.

    You cannot decide to pay for the current month AFTER a ticket has won.

    You MUST be paid up BEFORE the winning tickets drawing starts.


    Something like that should suffice.

    Either that, or screw the group. Get your OWN tickets.
     
  14. thatoneguy

    AAC Fanatic!

    Feb 19, 2009
    6,357
    718
    Always take the lump sum. It is still MILLIONS after taxes and the penalty. Put it in a trust fund and have it invested and doled out beyond your direct control. You will be set for life. People that get the "paycheck for life" payments have a high suicide/murder rate, they borrow against the check they are planning to get, and they are totally broke. Families have generation long feuds over lottery winnings.

    Anything other than the lump sum payment is financially stupid for you. The lotteries reinforce this by pushing up the penalties for lump sum, as well as taxes, whereas those getting checks monthly pay no penalty. That should be proof enough to show the first sentence is the best course, provided it is managed correctly (e.g. not directly by you). Even if somebody is used to having money, there is a world of difference between making a quarter million a year, and suddenly having 10 million in the bank. If your name is published as a winner, you will be hounded to the grave by charities, and discover relatives you never heard of.

    You are betting against the house in every case, but the only one where you have a chance of getting ahead of "the house" is by taking the lump sum ASAP and getting into private investments and trust funds instead of the state budget showing you as a "creditor", governments do not like owing the citizens money.
     
  15. retched

    AAC Fanatic!

    Dec 5, 2009
    5,201
    312
    Sheesh... You win, take the lump and GET OUT OF THE COUNTRY! ;)
     
  16. VoodooMojo

    Active Member

    Nov 28, 2009
    503
    53
    see how much less stressed than the normal I am by not playing?
     
  17. maxpower097

    Well-Known Member

    Feb 20, 2009
    795
    388
    .......................................................
     
    Last edited: Jan 16, 2011
  18. maxpower097

    Well-Known Member

    Feb 20, 2009
    795
    388
    .......................................................
     
    Last edited: Jan 16, 2011
  19. Wendy

    Moderator

    Mar 24, 2008
    20,766
    2,536
    Not me, though I would get out of the neighborhood. I would not not want to be the rich guy among my neighbors. My neighborhood isn't that bad, but it isn't that good either.
     
Loading...