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Author Topic: Am I the only one sick and tired of not winning the lottery?  (Read 1609 times)

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shmokes

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Re: Am I the only one sick and tired of not winning the lottery?
« Reply #40 on: December 31, 2011, 01:06:13 am »
I will never win the big one but if you do in Canada there are no taxes to be paid.   If it is 50 million you get 50 million  :D :D

Yeah, might not improve odds of winning, but the winner will definitely feel better about their winnings. I think that is how it should be.

Yeah, cause society's main concern should be to make sure that lotto jackpot winners aren't sad.  :)
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Re: Am I the only one sick and tired of not winning the lottery?
« Reply #41 on: December 31, 2011, 03:28:08 am »
I was going off of an average fed bond payout of 5.4%, and a friend of mine who is a high end financial advisor guarantees a min 5% on return annually (averaged over a course of a decade i believe) when he is given full control over the investments. I don't know if minimum investment needed for the guarantee, but I am sure a powerball winner would meet that amount.



Where are you getting that 5.4% fed bond figure?  That kind of interest isn't available these days.

Yeah, that 5.4% number is the average long term federal bond average over the last 25 years or something I believe. May not be in current play, but long-term historical average. My buddy's firm still is holding that 5% gurantee as well, although it is only offered though a certain grade of financial advisors. That guarantee is calculated by averaging over a decade or a long-term timeframe like that.

I was hoping you knew something I didn't.  I've been looking for better rates on my emergency funds and there's just nothing out there that beats inflation.

Blanka

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Re: Am I the only one sick and tired of not winning the lottery?
« Reply #42 on: January 01, 2012, 12:27:47 pm »
Here all prizes are presented as the amount you receive on your bank. Taxes are 25% on lotteries for prizes above 450, so a 30.000.000 grand prize is actually 40.000.000.
But there is another problem: the old-years-eve lottery, happens at 31st of december, so if you win 30mil, your average bank balance for 2011 is 15mil (even though it will be transfered not earlier than february/march!). You pay wealth-tax over that: 1.2%, which is 180000. You have to pay it on the 2011 tax period, and it might be claimed from you before you actually have the prize!
Most winners don't have 180.000 at hand :).


Thenasty

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Re: Am I the only one sick and tired of not winning the lottery?
« Reply #43 on: January 03, 2012, 02:02:23 pm »

I don't know about the rest of the country but lotto ticket prices are going up to $2 per ticket in Colorado next month...

Here in NJ it starts in 1/15/2012
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Re: Am I the only one sick and tired of not winning the lottery?
« Reply #44 on: January 03, 2012, 04:57:23 pm »
Once on Craig's I sold a couch and loveseat.  Got the asking price on the first call, didn't get any weird scam money transfer emails, the buyer showed up with trailer and truck and ROPE at the appointed date and time with help to load the stuff, paid in full without browsing through my garage and left.  I pretty much consider that a lottery win of the $300 I got out of the deal... but thinking about it now that situation is probably more rare than actually winning the lotto. 

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Re: Am I the only one sick and tired of not winning the lottery?
« Reply #45 on: January 03, 2012, 05:55:19 pm »
The odds of winning are around 100 million to 1, so I only play when it's over $100 million.

I figure that way I have even odds of winning.

wizkid32

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Re: Am I the only one sick and tired of not winning the lottery?
« Reply #46 on: January 03, 2012, 11:25:59 pm »
The odds of winning are around 100 million to 1, so I only play when it's over $100 million.

I figure that way I have even odds of winning.
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