Another Trucker wins Powerball !!
- Thread starter rmctt2
- Start date
greg334
Veteran Expediter
I honestly feel sorry for the people who win. Many of them don't know how to handle the 'fame and fortune'.
What I find rather sad is he didn't win $29M because if he did, he would get $29M but instead he won half of that and the results are $9M after all the taxes - maybe the FairTax would benefit him?
I have been trying to limit my wife's buying of Lottery tickets, I stopped buying them while I was(am) on the road because I could take that same amount of money (~$20 a week) and buy a share or two of stock - better investment. I already fund the schools (selling point in Michigan) and don't want to fund them anymore than I am required to by law.
What I find rather sad is he didn't win $29M because if he did, he would get $29M but instead he won half of that and the results are $9M after all the taxes - maybe the FairTax would benefit him?
I have been trying to limit my wife's buying of Lottery tickets, I stopped buying them while I was(am) on the road because I could take that same amount of money (~$20 a week) and buy a share or two of stock - better investment. I already fund the schools (selling point in Michigan) and don't want to fund them anymore than I am required to by law.
I agree ..
I think it is crazy that he won a 29 M Jackpot and settled for the lump sum option. He recieved 13 M ! Then after taxes he got the 9.3 Million ! Where did the other 16 M go from the 29M ??
Another way to cheat us !!!
He probably would have better off at 45 yrs old to collect monthly or however they do it !!
If he was in his 60's and ready for retirement the lump sum might be better !!
Unfortunitly at 45 yrs old, 9 million might not go far considering he can live another 30 yrs.
Hope he invests properly and wisely, that is why I would consider buying a Trucking Company ( Something he already knows about )..
Anyways.. Congrats to him and Good luck too !
I think it is crazy that he won a 29 M Jackpot and settled for the lump sum option. He recieved 13 M ! Then after taxes he got the 9.3 Million ! Where did the other 16 M go from the 29M ??
Another way to cheat us !!!
He probably would have better off at 45 yrs old to collect monthly or however they do it !!
If he was in his 60's and ready for retirement the lump sum might be better !!
Unfortunitly at 45 yrs old, 9 million might not go far considering he can live another 30 yrs.
Hope he invests properly and wisely, that is why I would consider buying a Trucking Company ( Something he already knows about )..
Anyways.. Congrats to him and Good luck too !
He could have grossed 29 million if he took the annuity that the lottery is advertised as. If he invests the 13 mil, before taxes, at 4% he'll have his 29 mil in 20 years. That's basicly what the powerball folks do if you opt for the 20 year payout to get the full 29M
nightcreacher
Veteran Expediter
my friends will be millionaires if i won,I wouldnt want to hang out with strangers
Hey Terry;
Where could he Invest the 13M that would be safe and earn a return !
As you know in todays stock market , everything is so up and down !!
My roomate lost $ 3,000.00 in a week period a few weeks ago when the Market droped 400 points !
He almost had a heart attack ....LOL
Better to buy a buisiness and have equity !!
Where could he Invest the 13M that would be safe and earn a return !
As you know in todays stock market , everything is so up and down !!
My roomate lost $ 3,000.00 in a week period a few weeks ago when the Market droped 400 points !
He almost had a heart attack ....LOL
Better to buy a buisiness and have equity !!
wallytrucker1
Expert Expediter
I agree, I would feel just terrible if I won 9 million dollors......NOT and I'm sure that fellow is so depressed today he can hardly stand to be around himself. He would probaly much rather be beating his kidneys up and staring out a windshield wishing he was somewhere else doing something else..Oh yeah, now he can go do it. If I win , don't feel sad, BE HAPPY.
are12
Expert Expediter
<<<I honestly feel sorry for the people who win. Many of them don't know how to handle the 'fame and fortune'.>>>>
Greg,
Shame on you for being such a downer! Be happy for the man. If he should squander the money away, so be it, it is his to spend any way he wishes.
Please don't feel sorry for me, if I should win, I know I wouldn't feel sorry for you!
Greg,
Shame on you for being such a downer! Be happy for the man. If he should squander the money away, so be it, it is his to spend any way he wishes.
Please don't feel sorry for me, if I should win, I know I wouldn't feel sorry for you!
As already mentioned, the payout amount is based on many years with the state retaining most of the money through that time. The state invests it and pays out of the proceeds. Ours is a 26 year payout. If he invested $9M at 4% at the end of the 26 years he'd have $36M. If he were able to defer the taxes and invest the $13M that would be $52M in 26 years.
I've thought about it as I'm sure most have. I probably spend about $5 a year on tickets. I have a dream list of what charities I'd donate to and what people I'd give stuff to. The rest I'd invest with a trusted adviser's help. Then my new truck and I would be hittin the road.
Leo Bricker, 73's K5LDB
OOIDA Life Member 677319, JOIN NOW
Owner, Panther trucks 5508, 5509, 5641
EO Forum Moderator
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Support the entire Constitution, not just the parts you like.
I've thought about it as I'm sure most have. I probably spend about $5 a year on tickets. I have a dream list of what charities I'd donate to and what people I'd give stuff to. The rest I'd invest with a trusted adviser's help. Then my new truck and I would be hittin the road.
Leo Bricker, 73's K5LDB
OOIDA Life Member 677319, JOIN NOW
Owner, Panther trucks 5508, 5509, 5641
EO Forum Moderator
----------
Support the entire Constitution, not just the parts you like.
greg334
Veteran Expediter
"Greg,
Shame on you for being such a downer! Be happy for the man. If he should squander the money away, so be it, it is his to spend any way he wishes.
Please don't feel sorry for me, if I should win, I know I wouldn't feel sorry for you! "
Are12,
But I do feel sorry for anyone who wins and just gets the money without preparing for it. I don't want to see people just p*ss it away or turn to drugs and alcohol like many do because they can't handle the pressure but enjoy life as it should be enjoyed - as they see fit.
I have a couple down the street from me who won five times as much as this guy is getting and when I met them, they were just coming out of a hard times over the money. They told me (something I already knew) that they were not prepared for the problems that the money brought and with strangers asking for money. They tried to get away, tried to move out of state but there was someone always there asking for money. They dispersed the money to charities, needy and to family and built a trust so they can live quietly without anyone knowing what they had. The own nothing, the trust owns everything and they have the trust buy what ever they want and they are finally happy.
If I won any large amount, the first thing I would do is get my professional help lined up - i would not even call the lottery office or anything like that. I would not tell the professionals what I won, no one would know. I would than call two men and a truck or bekins (or whoever) and pack the house up - everything would be stored. I would then go and get an RV in my friend's name, put the wife and the animals in it, park it on a friends farm far away from the house and then I would be in Lansing to claim my winnings - anonimity is the key to happiness. If the TV crew comes up to my house, well they will see an empty house. This was done by a couple who won the powerball somewhere in the south and when they were interviewed, they credited the silence for their happiness.
Shame on you for being such a downer! Be happy for the man. If he should squander the money away, so be it, it is his to spend any way he wishes.
Please don't feel sorry for me, if I should win, I know I wouldn't feel sorry for you! "
Are12,
But I do feel sorry for anyone who wins and just gets the money without preparing for it. I don't want to see people just p*ss it away or turn to drugs and alcohol like many do because they can't handle the pressure but enjoy life as it should be enjoyed - as they see fit.
I have a couple down the street from me who won five times as much as this guy is getting and when I met them, they were just coming out of a hard times over the money. They told me (something I already knew) that they were not prepared for the problems that the money brought and with strangers asking for money. They tried to get away, tried to move out of state but there was someone always there asking for money. They dispersed the money to charities, needy and to family and built a trust so they can live quietly without anyone knowing what they had. The own nothing, the trust owns everything and they have the trust buy what ever they want and they are finally happy.
If I won any large amount, the first thing I would do is get my professional help lined up - i would not even call the lottery office or anything like that. I would not tell the professionals what I won, no one would know. I would than call two men and a truck or bekins (or whoever) and pack the house up - everything would be stored. I would then go and get an RV in my friend's name, put the wife and the animals in it, park it on a friends farm far away from the house and then I would be in Lansing to claim my winnings - anonimity is the key to happiness. If the TV crew comes up to my house, well they will see an empty house. This was done by a couple who won the powerball somewhere in the south and when they were interviewed, they credited the silence for their happiness.
arrbsthw
Expert Expediter
If I should ever win the lottery, I certainly wouldn't buy a trucking
company. I would do like Greg though..no one would know it was me that
won and I would silently disappear in my new Motor Coach.
My family would receive a monthly allowance because they would all throw it away if they got anything over that. I would buy them all a new house and make sure the bills were paid. I would be incognito!!:7
company. I would do like Greg though..no one would know it was me that
won and I would silently disappear in my new Motor Coach.
My family would receive a monthly allowance because they would all throw it away if they got anything over that. I would buy them all a new house and make sure the bills were paid. I would be incognito!!:7
I do believe theres a condition on the back of the ticket that states the you must allow pictures for promotion purposes...
Coco
Seasoned Expediter
After buying myself, my two children, my parents and in laws a home, I would set up a small trust fund for each of my children. I would want them to live a cautious lifestyle but still have enough to retire comfortably. As for ourselves, we could live comfortably on $100,000.00 a year. After that I would share the wealth with some well deserving charities and individuals.