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 Post subject: Still be rich after winning the lottery when?
PostPosted: Wed Dec 24, 2008 12:57 am 
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Very 2012esque

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What if hopefully this dosen't happen, where when the U.S currency dollar looses strenght and after the sec. of tresurey declaires force majuore and the U.S dollar becomes worthless.
The question is me having 35 quantities of 1oz each gold coin and I play the lottery and Win the 2nd Prize Mega Millions plus playing the megaplier where the 2nd prize would be $750,000 USD or ("Amero"whatever), would I be able with that amount of money be able to live a regular live?I.e would for an example food, car, prieces be around about the same?I.e $1.00 for a can of Tuna?


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 Post subject: Re: Still be rich after winning the lottery when?
PostPosted: Wed Dec 24, 2008 3:29 am 
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Perhaps an alternative suggestion instead of an answer:

Buy everything that will help you survive as soon as you can; bank the rest of it just in case nothing happens at all.

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 Post subject: Re: Still be rich after winning the lottery when?
PostPosted: Wed Dec 24, 2008 3:30 am 
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I can't say that you would have enough to live on but remember they take taxes out on that money at a rate of approx. 33%. Also, if you ever won the first place prize and chose to take lump sum you lose 1/2 to being with and then the balance is taxed.

Just giving you some food for thought.

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 Post subject: Re: Still be rich after winning the lottery when?
PostPosted: Wed Dec 24, 2008 7:14 am 
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Very 2012esque

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9191tiggers9191 wrote:
I can't say that you would have enough to live on but remember they take taxes out on that money at a rate of approx. 33%. Also, if you ever won the first place prize and chose to take lump sum you lose 1/2 to being with and then the balance is taxed.

Just giving you some food for thought.

Well I have sent an email asking that question to the Texas lottery commission and they say that they deduct 25% of the winnings for taxes.

So if I win $1million I would have left $750,000, that would be enough money to move out of the U.S or stay and buy a shelter and buy gold, also buy land, food, animails, and a water tank etc.. and live the life of a rancher/farmer not being dependent on food from the market.Plus buy seeds to plant fruits and veggies..


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 Post subject: Re: Still be rich after winning the lottery when?
PostPosted: Wed Dec 24, 2008 9:51 am 
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Well, its a matter of perspective but if the US Dollar did lose its value, then you would have probably have bought a lottery ticket with a dollar that was worth 25 cents. Therefore, your winnings of $750,000 is worth $187,500 in todays dollar value. Would you be able to live a regular life? Of course you can, for about 3 years. However, if the dollar value did go down drastically, lotter tickets would be cost $5, in which case, the second prize would be $3,750,000 which is worth $937,500 in todays value. Given the proper investment strategy, you could live off that comfortably.

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 Post subject: Re: Still be rich after winning the lottery when?
PostPosted: Wed Dec 24, 2008 3:03 pm 
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Well I have sent an email asking that question to the Texas lottery commission and they say that they deduct 25% of the winnings for taxes.

So if I win $1million I would have left $750,000, that would be enough money to move out of the U.S or stay and buy a shelter and buy gold, also buy land, food, animails, and a water tank etc.. and live the life of a rancher/farmer not being dependent on food from the market.Plus buy seeds to plant fruits and veggies..[/quote]

Based on this info, if you won $1 million, and took the Cash Value (lump sum) option, they automatically deduct apprx half the jackpot value. So, you would end up with $500,000. Taxed at 25% (It's actually closer to 40%), you would only receive a check for $375,000. Which is still a lot of money. I wouldn't turn it down!

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 Post subject: Re: Still be rich after winning the lottery when?
PostPosted: Wed Dec 24, 2008 3:42 pm 
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There is one thing to remember about winning a lottery - it can truly be a blessing but it can also be very difficult. Without going into detail I can say that I have first hand experience with it.

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You ought to consider the ifs now and then. Thinking about if, sometimes prepares you for when. Laura Kalpakian


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 Post subject: Re: Still be rich after winning the lottery when?
PostPosted: Wed Dec 24, 2008 9:16 pm 
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If you are poor and have always been poor, having great amounts of money will not change you from being poor. If you are rich, then having no money never fazes you. Learn to be rich, and huge windfalls like the lottery will be great. If you dont know how to handle money, it wont be long before even a million dollars is gone.

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 Post subject: Re: Still be rich after winning the lottery when?
PostPosted: Thu Dec 25, 2008 3:34 am 
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Very 2012esque

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Location: North Texas suburbs, USA
XSlayerALE wrote:
Well, its a matter of perspective but if the US Dollar did lose its value, then you would have probably have bought a lottery ticket with a dollar that was worth 25 cents. Therefore, your winnings of $750,000 is worth $187,500 in todays dollar value. Would you be able to live a regular life? Of course you can, for about 3 years. However, if the dollar value did go down drastically, lotter tickets would be cost $5, in which case, the second prize would be $3,750,000 which is worth $937,500 in todays value. Given the proper investment strategy, you could live off that comfortably.

By the way the ticket costs $1.00 per picking 1 row of 5 numbers and a 6th number.

The question is would it still say the cost to play per one bet slip be $1.00?

Would i stlll be able to afford a $54,000 underground shelter?


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 Post subject: Re: Still be rich after winning the lottery when?
PostPosted: Thu Dec 25, 2008 3:39 am 
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Chances are if you won you would be able to purchase a $54,000 bunker. On the flip side your chances of winning are very poor. Not to be a "naysayer" because I do have experience in this, but the chances are very very small.

If you need more basic lottery info you can pm me.

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You ought to consider the ifs now and then. Thinking about if, sometimes prepares you for when. Laura Kalpakian


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