RodeoSchro said:

He also bought things he shouldn't have, like a $5 million home,

RodeoScro why shouldn't he buy a $5 million home if he won approximately $30 million?

Is it because maintenance and recurring bills are so high?

Cinny said:

JustErin said:

Cinny said:

I don't think the winning ticket will be in Calgary soon. The last winner from February is chilling the win: He was in the paper a month after winning saying he was "bored" and wanted his old job back, and hadn't taken his wife anywhere.

I always say I am going to play but then I never remember. This part of the country rarely wins anyway.

Manifest it! Poverty is in the mind! (haha)

Cinny said:

violectrica said:

That is because poverty is in the mind.

Poverty is in the wallet! How condescending.

No.

It can be ALSO in the wallet. But it is not usually ONLY in the wallet. That is one component.

I know this is true because I had a lot of money all of the sudden, but because I grew up on Ramen noodles, I had no flippin clue what to do with the cash flow, my poverty was still with me in my head. Enter the recession and widowhood and BAM money is gone, no idea where it went. Shoulda had savings, insurance, diversification of portfolios,etc, shoulda not earned so much money so fast, My house shoulda kept its value too .

I am not being condescending, this happened to me. I had financial security, but it could not survive my mental poverty.

Now that I have to start all over again, I have enriched my mind, anf I actually will know what to do with the money, should I be so fortunate as to get back up on my feet again. But at this point I am ambivilant about trying again.

Timmy84 said:

Cinny said:

That sounds like fun!

Why is she renting now if she bought property?

I am trying to learn from this. If I won, I know that there would be major pressure to share it with close family, regardless of the sum.

Shit. My family ain't that close but PLEASE believe, bruh, if I won the lottery tomorrow, those same folks who haven't talked to me for 20 years will call me asking me to lend them $100,000. Fuck that. Just tell them fuckers I donated it to charity.

At heart i'm a generous person but if i won the lottery i would make the relatives i don't get along with pay. I would eventually break bread with them but i would take them thru some changes before i dished out the dough.

Anyway back to reality and the people who blow millions of dollars in a short period of time...

For the life of me i can't understand that. I can see if a person has a medical condition that costs millions of dollars to treat but blowing money just to be blowing it or because of family or bad business deals, heck the f naw!

Id put that shit in the bank and develop a financial plan with a professional.

JoeyC said:

Timmy84 said:

Shit. My family ain't that close but PLEASE believe, bruh, if I won the lottery tomorrow, those same folks who haven't talked to me for 20 years will call me asking me to lend them $100,000. Fuck that. Just tell them fuckers I donated it to charity.

At heart i'm a generous person but if i won the lottery i would make the relatives i don't get along with pay. I would eventually break bread with them but i would take them thru some changes before i dished out the dough.

Anyway back to reality and the people who blow millions of dollars in a short period of time...

For the life of me i can't understand that. I can see if a person has a medical condition that costs millions of dollars to treat but blowing money just to be blowing it or because of family or bad business deals, heck the f naw!

Id put that shit in the bank and develop a financial plan with a professional.

I agree. Even with ten million, you don't have to get everything just because. That's why people lose more money than they gain.

nd33 said:

So if you put $10 mill in the bank and lived off the interest for the rest of your life..say 5% PA return, that would be $500,000/year.

Why would anyone NOT do that?

Pop $500,000 down for a mortgage on a beautiful house the first year and live very comfortably and luxuriously for the rest of your life.

Is my theory flawed?

I DON'T GET IT.

I don't get it, either. I could live very comfortably on a 5% ROR.

Genesia said:

nd33 said:

So if you put $10 mill in the bank and lived off the interest for the rest of your life..say 5% PA return, that would be $500,000/year.

Why would anyone NOT do that?

Pop $500,000 down for a mortgage on a beautiful house the first year and live very comfortably and luxuriously for the rest of your life.

Is my theory flawed?

I DON'T GET IT.

I don't get it, either. I could live very comfortably on a 5% ROR.

A woman at work explained to me this principal principle, Princey pal.

i think part of it comes down to how you view the amount of money... i don't consider 10 mil to be a huge sum of money, so i wouldn't be foolish enough to think it was never ending