Maxman Posted February 10, 2017 Share Posted February 10, 2017 I never play the lottery but I saw this commercial. What would you do if you won? Me? Lots of traveling in the RV. Quit my job. Run JetNation from the road. And go to every home and away game! Link to comment Share on other sites More sharing options...
JohnJ Posted February 10, 2017 Share Posted February 10, 2017 Go fishing and body surfing year round on warm beautiful beaches that have warm beautiful exotic women all over the place. Eff the the Jets then Link to comment Share on other sites More sharing options...
jetophile Posted February 10, 2017 Share Posted February 10, 2017 Donate more than usual to homeless vets and the local food bank. Be careful about the former, there are a lot of scumbags out there. Stay in Italy whenever possible to glut myself silly, help out family, buy someone lunch anonymously everyday instead of few times a year (I love doing that), bank the rest. Link to comment Share on other sites More sharing options...
Bombdirt Posted February 10, 2017 Share Posted February 10, 2017 I'd pay off the mortgage, buy my wife something sparkly and send my parents down to MLB spring training in Florida every year. Aside from that I'd probably get really good at golf. Maybe buy a monkey. I always wanted a pet monkey. Link to comment Share on other sites More sharing options...
Jetsfan80 Posted February 10, 2017 Share Posted February 10, 2017 Not to be a downer but $1,000 week is only 52k per year before taxes. Good coin to get on top of whatever you already have, sure, but not a significantly life-changing source of income. I'd rather forego the $1,000 per week and take whatever lump sum option is available. Link to comment Share on other sites More sharing options...
chirorob Posted February 10, 2017 Share Posted February 10, 2017 I'm boring. Overpay the mortgage so it's done before my kids hit college, use it to pay for college. Retire earlier. Link to comment Share on other sites More sharing options...
JoeC36 Posted February 10, 2017 Share Posted February 10, 2017 Quit this job and get one i enjoy more even if it comes with a pay decrease Link to comment Share on other sites More sharing options...
Integrity28 Posted February 10, 2017 Share Posted February 10, 2017 Not change anything, other than planning to retire earlier. Maybe. Link to comment Share on other sites More sharing options...
DMan77 Posted February 10, 2017 Share Posted February 10, 2017 Ya the payout here depends... Some states make you an offer with these kinds of things. It's 52K a year, and then they factor in your age and offer you a lump sum instead to cover X amount of years... So if you're let's say 40, they may come to you with 52K x 40 and give you a lump of 2 Million or so, before taxes. Some people take that, while others are willing to bet they'll live longer than what the lottery would payout... Live longer and you eventually come out on top, but you miss out on getting it all at once. Also, charity would be a big thing, but I'd also take a few trips, buy a state of the art computer, tv, and a few other electronics, invest, and maybe even open my own business somewhere down the line. Link to comment Share on other sites More sharing options...
Jetsfan80 Posted February 10, 2017 Share Posted February 10, 2017 6 minutes ago, DMan77 said: Ya the payout here depends... Some states make you an offer with these kinds of things. It's 52K a year, and then they factor in your age and offer you a lump sum instead to cover X amount of years... So if you're let's say 40, they may come to you with 52K x 40 and give you a lump of 2 Million or so, before taxes. Some people take that, while others are willing to bet they'll live longer than what the lottery would payout... Live longer and you eventually come out on top, but you miss out on getting it all at once. Lump sum is ALWAYS the better choice. You never know what tomorrow will bring and, obviously, a dollar today is worth more than a dollar tomorrow. Take that lump sum and invest, baby, invest! Link to comment Share on other sites More sharing options...
DMan77 Posted February 10, 2017 Share Posted February 10, 2017 2 minutes ago, Jetsfan80 said: Lump sum is ALWAYS the better choice. You never know what tomorrow will bring and, obviously, a dollar today is worth more than a dollar tomorrow. Take that lump sum and invest, baby, invest! Yup I agree! Get that lump sum, deal with being sick to your stomach over the taxes you pay, and then enjoy! Link to comment Share on other sites More sharing options...
Bombdirt Posted February 11, 2017 Share Posted February 11, 2017 9 hours ago, Jetsfan80 said: Not to be a downer but $1,000 week is only 52k per year before taxes. Good coin to get on top of whatever you already have, sure, but not a significantly life-changing source of income. I'd rather forego the $1,000 per week and take whatever lump sum option is available. Depends on where you live. In places like San Francisco, $52k is near poverty-level. Around where I am (downstate Illinois), you can live quite comfortably on $52,000 per year. Yeah, we're trashy. Link to comment Share on other sites More sharing options...
jetophile Posted February 11, 2017 Share Posted February 11, 2017 People who win the lottery generally go bankrupt. Unless you're Shirley Jackson's bitch. Link to comment Share on other sites More sharing options...
The Crusher Posted February 11, 2017 Share Posted February 11, 2017 Eat Link to comment Share on other sites More sharing options...
joewilly12 Posted February 11, 2017 Share Posted February 11, 2017 Retire full-time collect a pension and $1000 a week for life you would probably find me on a beach somewhere. Link to comment Share on other sites More sharing options...
Warfish Posted February 11, 2017 Share Posted February 11, 2017 On 2/10/2017 at 0:07 AM, Maxman said: I never play the lottery but I saw this commercial. What would you do if you won? Me? Lots of traveling in the RV. Quit my job. Run JetNation from the road. And go to every home and away game! If I won a legit lottery (that 1k a week is chump change), I would: Retire. Read books. Travel. Write books. Moar Univ. Degrees. Play Music. Save Cats. Link to comment Share on other sites More sharing options...
jetophile Posted February 11, 2017 Share Posted February 11, 2017 2 hours ago, Warfish said: If I won a legit lottery (that 1k a week is chump change), I would: Retire. Read books. Travel. Write books. Moar Univ. Degrees. Play Music. Save Cats. Make sure they're Hemingway's cats. They type better than I do. Link to comment Share on other sites More sharing options...
AFJF Posted February 12, 2017 Share Posted February 12, 2017 Buy a couple vacation homes in Brugges and Southern France....visit them often. Link to comment Share on other sites More sharing options...
T0mShane Posted February 12, 2017 Share Posted February 12, 2017 I'd work for two years, pay off all my debt, then go buy a small hut on the coast of Belize and never wear a shirt again. Link to comment Share on other sites More sharing options...
jetophile Posted February 12, 2017 Share Posted February 12, 2017 1 hour ago, T0mShane said: I'd work for two years, pay off all my debt, then go buy a small hut on the coast of Belize and never wear a shirt again. Ruh-roh, Raggy. Link to comment Share on other sites More sharing options...
Kleckineau Posted February 12, 2017 Share Posted February 12, 2017 $1000 per week in NY? I'd buy a nice indoor parking space. Link to comment Share on other sites More sharing options...
Larz Posted February 12, 2017 Share Posted February 12, 2017 hatch a plan to retire debt free at 65 and invest the rest. I'm too old to give a sh*t about the car I drive or where I live. I want to RELAX Link to comment Share on other sites More sharing options...
Maxman Posted February 13, 2017 Author Share Posted February 13, 2017 13 hours ago, T0mShane said: I'd work for two years, pay off all my debt, then go buy a small hut on the coast of Belize and never wear a shirt again. Some factory in China just laid off 4 works on the Jeter \ Medium line. Link to comment Share on other sites More sharing options...
Maxman Posted February 13, 2017 Author Share Posted February 13, 2017 17 hours ago, AFJF said: Buy a couple vacation homes in Brugges and Southern France....visit them often. And cover the Jets from your Florham Park condo, right? Link to comment Share on other sites More sharing options...
southparkcpa Posted February 13, 2017 Share Posted February 13, 2017 On 2/10/2017 at 0:07 AM, Maxman said: I never play the lottery but I saw this commercial. What would you do if you won? Me? Lots of traveling in the RV. Quit my job. Run JetNation from the road. And go to every home and away game! $1,000 a week is not that much anymore. You have kids that need college? Healthcare? In 10 years that will feel like $500 a week and you will feel poor. Id probably donate $500 a week of it to my 3 favorite charities and the remainder I would simply enjoy a few more pleasures in life. Link to comment Share on other sites More sharing options...
southparkcpa Posted February 13, 2017 Share Posted February 13, 2017 On 2/10/2017 at 10:48 AM, chirorob said: I'm boring. Overpay the mortgage so it's done before my kids hit college, use it to pay for college. Retire earlier. This is what I did. I'm early 50's, no mortgage, kids out of college and like you, as a professional, I make a good living. All it took was saving an additional say $200 to $500 a month when all my buddies were spending $3,000 a year on Disney or a cruise. Now Im on easy street. Link to comment Share on other sites More sharing options...
Doggin94it Posted February 13, 2017 Share Posted February 13, 2017 On 2/10/2017 at 0:07 AM, Maxman said: I never play the lottery but I saw this commercial. What would you do if you won? Me? Lots of traveling in the RV. Quit my job. Run JetNation from the road. And go to every home and away game! 52K a year would be enough to let you do that? Link to comment Share on other sites More sharing options...
Maxman Posted February 13, 2017 Author Share Posted February 13, 2017 1 hour ago, southparkcpa said: $1,000 a week is not that much anymore. You have kids that need college? Healthcare? In 10 years that will feel like $500 a week and you will feel poor. Id probably donate $500 a week of it to my 3 favorite charities and the remainder I would simply enjoy a few more pleasures in life. It is enough money for me. I would take out a big life insurance policy and then I would be okay with a bunch of revolving debt. When I go, the insurance pays for it all. Until then I enjoy it all every second of the day! Just to clarify - I would still have to work. Just would work for myself. Link to comment Share on other sites More sharing options...
Maxman Posted February 13, 2017 Author Share Posted February 13, 2017 13 minutes ago, Doggin94it said: 52K a year would be enough to let you do that? Yes. After the Scout payment of 2.3 million dollars kicks in. Working on that part haha. Link to comment Share on other sites More sharing options...
Maxman Posted February 13, 2017 Author Share Posted February 13, 2017 On 2/10/2017 at 10:42 AM, Jetsfan80 said: Not to be a downer but $1,000 week is only 52k per year before taxes. Good coin to get on top of whatever you already have, sure, but not a significantly life-changing source of income. I'd rather forego the $1,000 per week and take whatever lump sum option is available. I don't think this lottery lets you do that. But the lump sum is always better than an annuity with a lottery. Think about winning a million dollars. 20 year annuity and taxes get taken out. You get a 5 figure check each year and everyone you know hits you up for stuff every single day. Kind of a nightmare actually. Link to comment Share on other sites More sharing options...
Jetsfan80 Posted February 13, 2017 Share Posted February 13, 2017 4 minutes ago, Maxman said: I don't think this lottery lets you do that. But the lump sum is always better than an annuity with a lottery. Think about winning a million dollars. 20 year annuity and taxes get taken out. You get a 5 figure check each year and everyone you know hits you up for stuff every single day. Kind of a nightmare actually. There's almost always a lump sum option if you read the fine print. The taxes would suck but you get those taken out of the $1,000 payments also. So if you're going to get taxed either way, give me as much upfront money as I can get and be done with it. And whether it's $1,000 a week or a lump sum, I have a feeling people will hit you up no matter what. Just have to be smart about the money and tell everyone other than legit charities you care about to f*ck off. Link to comment Share on other sites More sharing options...
southparkcpa Posted February 13, 2017 Share Posted February 13, 2017 48 minutes ago, Maxman said: I don't think this lottery lets you do that. But the lump sum is always better than an annuity with a lottery. Think about winning a million dollars. 20 year annuity and taxes get taken out. You get a 5 figure check each year and everyone you know hits you up for stuff every single day. Kind of a nightmare actually. 44 minutes ago, Jetsfan80 said: There's almost always a lump sum option if you read the fine print. The taxes would suck but you get those taken out of the $1,000 payments also. So if you're going to get taxed either way, give me as much upfront money as I can get and be done with it. And whether it's $1,000 a week or a lump sum, I have a feeling people will hit you up no matter what. Just have to be smart about the money and tell everyone other than legit charities you care about to f*ck off. When I lived in NY (moved to NC in 95), I had 2 NY lottery winners as clients. Both were big winners, one was receiving about $150,000 a year for life and the other a little less. Both were BROKE. Over extended on real estate etc. remember, NYC real estate in the late 80's was in the toilet. Co-op apartments were being given away. I took from it a salient point.... those who can't seem to earn the money, absolutely dont have the "brains" to manage it. Similar to pro athletes, unless its BIG dollars, most of these guys are broke 3-5 years after sports. Link to comment Share on other sites More sharing options...
Bleedin Green Posted February 13, 2017 Share Posted February 13, 2017 On 2/10/2017 at 10:42 AM, Jetsfan80 said: Not to be a downer but $1,000 week is only 52k per year before taxes. Good coin to get on top of whatever you already have, sure, but not a significantly life-changing source of income. I'd rather forego the $1,000 per week and take whatever lump sum option is available. Sure is funny how things change over time. Hearing about that as a kid seemed like such an amazing amount of money. These days it's a more a matter of thinking "well that would be nice to have some extra money". Some extra savings, perhaps a nicer place to live, a few trips, and yep... it's gone. Link to comment Share on other sites More sharing options...
Maxman Posted February 13, 2017 Author Share Posted February 13, 2017 11 minutes ago, southparkcpa said: When I lived in NY (moved to NC in 95), I had 2 NY lottery winners as clients. Both were big winners, one was receiving about $150,000 a year for life and the other a little less. Both were BROKE. Over extended on real estate etc. remember, NYC real estate in the late 80's was in the toilet. Co-op apartments were being given away. I took from it a salient point.... those who can't seem to earn the money, absolutely dont have the "brains" to manage it. Similar to pro athletes, unless its BIG dollars, most of these guys are broke 3-5 years after sports. Well along those lines then winning the $1000 a week for life would suck. Because it is really just a supplement. Unless I wanted to live in my RV like I joked about earlier. My kids college costs more than what I would take home. Fishing and living off the land might be the best bet. Along with the Jets games. Although I might have to just stay in the parking lot as I couldn't afford the seats inside lol. Link to comment Share on other sites More sharing options...
Bleedin Green Posted February 13, 2017 Share Posted February 13, 2017 3 minutes ago, Maxman said: Well along those lines then winning the $1000 a week for life would suck. Because it is really just a supplement. Unless I wanted to live in my RV like I joked about earlier. My kids college costs more than what I would take home. Fishing and living off the land might be the best bet. Along with the Jets games. Although I might have to just stay in the parking lot as I couldn't afford the seats inside lol. Could you even afford the parking pass? Link to comment Share on other sites More sharing options...
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