Comments on: A $370M Lottery Jackpot and A Story of a Lottery Winner

By: MJM

MJM — Fri, 02 Dec 2011 05:19:00 +0000

Rex…

Your figures about spending seem a bit odd to me. While I’m not an investment guru (I dabble with trading) I think I understand markets a bit.

Most states have muni bonds available that pay 4-5%. The income from them would be totally tax free.

If you took 50 Million and put it into a 5%, 25 year maturity muni bond, the annual income would be 2.5 Million.

Divide that by 12 months, and you have income of just over 208k /mo. Tax free. For the same 25 year duration that you mentioned.

BUT…. At the end of 25 years, you still have the original $50 Million.

That’s my free investment lesson for everyone, and you don’t need to send me a fee.

Good luck to all of the winners.

By: Rex

Rex — Sat, 29 Oct 2011 01:45:16 +0000

I’ve been thinking about the problems that seem to arise from suddenly winning a large sum of money. I’ve known people who’ve inherited large sums and they definitely weren’t as careful with it as the people who left it to them. There’s something to be said for working for what you want in life. I think everyone would like to think that if they won a lottery they would be responsible. It’s just that the word responsible takes on new meanings when what used to be a week’s paycheck becomes “pocketchange”. Being accountable to someone or setting up safeguards to keep you from being silly with your winnings sounds like a good idea. I think that if you are currently envious toward people who have things that you don’t you’re a prime candidate to go overboard. I don’t know though. It just seems strange how people can manage to spend everything so quickly. If you had $50 million in the bank you would have to spend like $167,000 a month for 25 years to spend it all. That seems a little high to me. Oh well, if it ever happens to me I’ll have to post a blog on what I’m doing so everyone can give great “advice” on what I’m doing wrong.

By: Muffy

Muffy — Sun, 18 Sep 2011 21:37:59 +0000

The media doesn’t care about these kind of stories. They want everyone to believe all lottery winners lose it and are too dumb to handle money. Well, I never believed that. Tuesday’s Mega Millions is 75 million, and I have said it a few time before. If I happened to be the lucky one with the winning ticket, I will proves all the naysayers wrong. Will we live good? Hell yeah. Will we go crazy? Hell no.

By: k41150

k41150 — Thu, 30 Jul 2009 04:46:15 +0000

Pat in North Carolina: “…no one seems to give the Lord his10%.”
Frankly, it’s none of your business what anyone does with their money. If you want to give away fictional money to an imaginary sky daddy’s minions, that’s your choice but don’t presume to say what others should do. Arrogant.

By: archie bunker

archie bunker — Tue, 14 Jul 2009 19:33:11 +0000

I would invest in chiquita bananas. cant go wrong. who doesnt like banaynays?

By: Pat in North Carolina

Pat in North Carolina — Thu, 09 Apr 2009 15:41:50 +0000

I was so hoping to win the $144 million in last night’s drawing (4/9/09), but someone in DC won it. I had actually sat down and started writing on where I’d spend the money. My list started with 10% of the lump sum awarded to would have gone to my church , then I’d give 5M each to my 2 sons and my ex-husband, with a 2M trust for my 12-year old granddaughter, and also allow for 5M for myself. The remaining money would have gone to buying from my landlord the 3 homes on the property where I live and pay rent ($470/mo), and then i would build a large 5 bdrm home with modest furnishings. I also had on my list my two brothers and their daughters, my ex-husband’s sisters and also listed a number of friends whom I’d give a substantial amount of money.
The only thing I’ve never read in these sad stories is that no one seems to give the Lord his10%. That has always been first in my thoughts whenever I’ve played, and when I’ve won (small amounts $6 or $12, etc, I have always given 10% to the church in addition to my usual tithe.
Thank you.

By: KATAVIA C.

KATAVIA C. — Tue, 20 Jan 2009 15:16:05 +0000

I WILL BE A WISE WINNER SOON!

By: Heinrich

Heinrich — Wed, 12 Sep 2007 10:56:11 +0000

Strange about the lottery winners. Even if they initially invested their windfall all with a bank ( while they where figuring out what to do with it) they would earn so much interest in a months time the could live lavish lifestyles.

Interest per month on only $5Million is $20 000.00(p/m) at 5% per annum. Does’nt take a genious to figure that out.
Even the dumbest accountant in the world would for about $500.00 dollars share this wisdom if only they would ask.