It could happen to you

[Kamui4356]

Originally Posted by kj1980

Why the heck do you want to blow ten million US dollars in importing our cars when they aren't even worth that much? Is the Nissan Skyline that big of a deal for people outside of Japan? I'd rather buy one Enzo Ferrari and one Maybach 62 than buy several domestic cars that I can pick out at a used car dealership.

I don't like Italian cars. I don't see the appeal to a ferarri or lambo other than the 'I'm super rich and can afford it' factor. The maybach is nice *gross understatement* but it's not a car for driving, it's a car to be driven around in.
The only one I'd have to import is the gt-r. The rest I can get easily here in the US. The reason I want the 3 rx-7s, and rx-8 is I'm a huge fan of rotary engines. The rest are all cars that I just like. Actually, all the cars I'd get would probably come to about 500k, there are a few more on the list that I didn't mention. In all, I want cars I can actually drive. That's what a car is for after all.

[Dhomochevsky]

Wait, did I understand that right?
In US lottery if you chose the "pay xM $ per year" and you die a couple of days later, you (or your family) dont get anything?

Thats like a million dollar price on your head!!!
The US lottery wants you dead, there will be GunslingerGirls after you in notime.

[ff7799]

to be honest I think taking all of the money upfront in most cases works best unless its something like $300 million dollars and you have no family or friends, if you don't have family or friends then taking the money upfront is fine since if you die you could careless what happens to the money however if you do have family or friends then its wisest to take it upfront since if something happens to you then atleast they will have it.

Originally Posted by Dhomochevsky

Wait, did I understand that right?
In US lottery if you chose the "pay xM $ per year" and you die a couple of days later, you (or your family) dont get anything?

Thats like a million dollar price on your head!!!
The US lottery wants you dead, there will be GunslingerGirls after you in notime.

[AnimeFangirl]

Of course, then they could always kill you in the hopes of inheriting all your money...

[mikeon]

I remember reading that it is best to take the lump sum. THat lump sum is the same ammount the lottery company uses, so if you were to take the lump sum, put it in a bank and not spend a dime of it, just let it accumulate interest, by the 26th year you would have the same ammount as you would have gotton if you opted for the annual payments.

[Sepiraph]

Originally Posted by Mr_Paper

Man, am I glad I live in Canada. ^^:

You recieve 100% of your lottery winnings here, the government only gains access to the money if you decide to give some of it away without adding the recipient to your lottery winnings forms. If you add the person to the forms at the time of collection, whatever sum of money you give them is completely tax free for both parties.

After that, assuming you have no ambitions of living large, you place $2.2 million into a bank account and have the monthly interest transfered to your everyday account. With current interest rates, that sum of money would generate $150,000 per year. With the government's new 'charitable donation' laws which register the value of a donation over $10,000 at roughly four times it's value, you only need to make one donation a year. Add to this a little intelligent investing in tax deductable funds and you can live comfortably without ever having to pay taxes for the rest of your life.

You probably don't want to put 2.2 million into your bank account. First of all, your rate of return is low, the highest interest rate (GIC) is about 3% currently. This is not only low but it is also not tax-free. The most important thing would be to pay off any debt, and for the rest your best bet is diversified investment, under RRSP so the returns are tax-free. Also I'd advice seeking legal/financial advice as to how to keep as much money possible to be tax-free.

Did I mention I'm a financial planner?

[diabolistic]

Originally Posted by Tzurial

Lotteries always remind me of those "If you had a million dollars..." essays assigned in grade school. I haven't thought about being rich in a long time though.. Ahh, to have the time and resources to train carrier pigeons would be fun...

wow, If I won the lottery Id buy a hot air balloon or an amiable mule and just...travel slowly

What the!
I never had such interesting writing topics! I wish *I* went to a special montessori school for gifted giraffes too!

And another thing, your lottery fantasy is a lot like MY lottery fantasy, where I build a big ship and sail around the world forever with a band of pirate-y friends. Except.. I don't have the mule in my version, however, I've managed to recruit segahekui as the sushi chef. Good times!

[Onibaba]

80 mil sounds good to me, at his age he won't use more than that before he dies, let alone live the 26 years to recieve it all :\

[Shay]

Originally Posted by Kimura-sensei

If you won the lottery, it makes more sense to take it as a lump sum. Not sure if you guys are aware of this, but if you (the ticket winner) die, whatever payment is left over is void. Your heirs (including your spouse) will receive no further payments.

Besides, I rather invest that money and live off the interest rates alone.

This post say's it all.

You could easily die after 1 year, and no matter what life insurance you have from that it would be nothing compared to the 88mill.

But the way it's done just sucks altogether, America sure is weird sometimes.

[Mr_Paper]

Originally Posted by Sepiraph

You probably don't want to put 2.2 million into your bank account. First of all, your rate of return is low, the highest interest rate (GIC) is about 3% currently. This is not only low but it is also not tax-free. The most important thing would be to pay off any debt, and for the rest your best bet is diversified investment, under RRSP so the returns are tax-free. Also I'd advice seeking legal/financial advice as to how to keep as much money possible to be tax-free.

Did I mention I'm a financial planner?

I now know who to turn to when I win my millions...

You'll have a good client in me.

[Access]

Originally Posted by HoboGod

that dumbass wanted 88.5 milion dollars all at once instead of 5.7 million dollars for the next 26 years? Does this asshole plan to spend more than $5.7 mil (after taxs) in one year?

People are idiots. -_-

There's such a thing as investment -- he could bank the 88.5M and if he can make 8% a year on average, that's 6.4M, which is much better when you consider that our tax system favors capital gains compared to earned income -- tax on capital gains / dividends / etc. comes out to around 10-15% (depends on your state) while income you earn from working is taxed more, anywhere from 23% to 40% and up. When you consider the economics of it, lump sum is definately the way to go, in the short run and the long run.

[Thelastguardian]

You people are sounding as if you have the money in your pocket now and you are trying to plan how to spend them .

Originally Posted by Lord Raiden

The other huge mistake he made is accepting the check in person.

Unforturnately this practice is consider unacceptable at British Columbia Lottary Corporation.

http://www.bclc.com/app/Footer/FAQ.asp?CATEGORY_ID=6

Q.Why can't I claim my lottery prize anonymously?A.When a player purchases a lottery ticket, it becomes a contract between that player and BCLC. Part of the contract is BCLC's right to publicize winners' names and pictures.

Names and photographs of major winners are publicized to protect the integrity of our games. We show that prizes have been won and that winners come from every walk of life.

Prize wins are good news, and our publicity efforts help to ensure the news is shared. So, remember your winning smile when claiming a prize!

Yeah they wouldn't want you to go in hiding, or else the public would start to think that the company's employee pocketed the money.


With a professional financial planner in the crowd, I don't think I would join in. Just remember, winning a big-ass jackpot doesn't guarantee you a life of luxury. If you find the info of previous jack-pot winners and their current state, you will see that "heck I am happy with my current job" .

[Kamui4356]

Originally Posted by Thelastguardian

Yeah they wouldn't want you to go in hiding, or else the public would start to think that the company's employee pocketed the money..

I don't see how that would stop the belief. I mean, the pictures of "lotto winners" could just be actors. For all we know, no one ever wins these things and it's all just a scam. They might just give out smaller prizes, to make it seem legit, then pay actors to play the part of the big winners. Not that I really believe that, but it is possible.