If I won the lottery - Page 2 - High-Def Digest Forums
Reply
 
Thread Tools Search this Thread Display Modes
  #11  
Old 05-15-2009, 11:32 AM
grasp's Avatar
Senior Member
 
Join Date: Mar 2008
Posts: 3,985
Default

I don't know how big the lottery is, but the first thing I would buy would be a Subaru STI as my daily driver, before I bought my exotic...

EDIT:
Crazeto? What? Mustang and Camaro. Really? Maybe you'd like a nice 4:3 CRT television, Fisher Reciever, and TEAC Speakers. Perhaps I can interest you in a mullet and acid wash jacket. Mustang and Camaro? WAT?

Last edited by grasp; 05-15-2009 at 11:35 AM. Reason: Crazeto
Reply With Quote
  #12  
Old 05-15-2009, 11:40 AM
weaponX's Avatar
Formerly weaponX6282
 
Join Date: Sep 2007
Posts: 1,353
Default

Quote:
Originally Posted by grasp View Post
I don't know how big the lottery is, but the first thing I would buy would be a Subaru STI as my daily driver, before I bought my exotic...

EDIT:
Crazeto? What? Mustang and Camaro. Really? Maybe you'd like a nice 4:3 CRT television, Fisher Reciever, and TEAC Speakers. Perhaps I can interest you in a mullet and acid wash jacket. Mustang and Camaro? WAT?
LOL.

"I have millions of dollars and my first major purchase will be my dream car..... a $20,000 "Sports Car" that everyone has."

I seriously can't go to the grocery store without seeing 8 Mustangs. There's nothing wrong with them, but they aren't as iconic as they were in the 60s.
Reply With Quote
  #13  
Old 05-15-2009, 12:05 PM
crazzeto's Avatar
Senior Member
 
Join Date: Nov 2007
Posts: 14,885
Default

Have fun enjoying your lotto winnings for 2 years before going bankrupt guys
Reply With Quote
  #14  
Old 05-15-2009, 12:30 PM
weaponX's Avatar
Formerly weaponX6282
 
Join Date: Sep 2007
Posts: 1,353
Default

Quote:
Originally Posted by crazzeto View Post
Have fun enjoying your lotto winnings for 2 years before going bankrupt guys
why would I go bankrupt? I'm living debt free right now. On pace to pay my 30 yr mortgage off in 5 years.... so if I won the lottery, it'd be extra cash in pocket. I buy everything on cash now.

Let's say I have $10,000,000.00 in lottery winnings after tax. If I were to play the lottery I'd select the "Cash" option since having an annuitized earning based on present value of money is retarded since it does not favor those who take the payments due to inflation and the rule of 72. Ok back to my point. Lets assume out of that $10,000,000.00 I use $300,000.00 to get an aston martin V12 Vantage with some upgrades. I still have $9,700,000.00 left in cash reserves. Lets say I build a new home in San Antonio, TX with all the upgrades. estimate 6,000 sqft next to TPC SA. You're looking at probably in the $4-$5 mil range if it is built with state of the art everything, including pool, bar, home theatre (amazing home theatres), home car wash, plus membership to TPC san antonio.... they're super luxury homes. (I know this because my fiance and I toured these homes about 8 months ago before the market took a huge shit here, so the prices may be lower). That leaves me with about $5 mil left in cash. Ok, I'll spend another $500K on wardrobe, other misc toys, maybe a daily commuter car like a Lexus ISF ($60K) and some nice things for the girl.... still at $4.5 mil. I can leave that in the bank and live off of a high yeid interest rate and only spend that if I wanted to do the dumbest form of investing. I wouldn't quit my job because I love what I do, plus I'd still own my current home and could most likely rent it out for about $2200 (approx. 10% of home value) per month which is about what homes in my neighborhood are renting for right now. So, I still have positive cash flow through 'stupid' investing, real estate, and my employment and I have no debt outside of property insurance (est $10,000/yr for all properties) income taxes, and home upkeep.... Assuming I make over $10,000/yr (which oddly enough, I do) from my salary and I can out rent my current home, and Chase Bank does not run off with my money that I stupidly put into a savings account instead of invested like a sane person would do, I think I could avoid bankrupcy pretty easy..... all without buying a $20,000.00 ford mustang that would stick out like a sore thumb in my high class neighborhood.

ninja edit: the current rate for 'high yeild' savings is around 1.75%, I'll do the math 1.75% of $4.5mil is $78,750. If I didn't take that money out and let it compound and pay the tax next year it would be larger......

However, this would never happen because I don't play the lottery because as my accounting/finance/statistics profs in college used to say "The Lottery is a tax on the ignorant". Meaning people who play the lottery are the same people who can not do math or figure out the true value of money.
Reply With Quote
  #15  
Old 05-15-2009, 12:36 PM
Liqwid's Avatar
Senior Member
 
Join Date: Jun 2007
Posts: 4,170
Default

DeLorean!

That or a new Tesla Roadster Sport, Aptera 2e, or an Ariel Atom 500.

(I'd also buy that speaker set plus a Mitsubishi LaserVue set, if I could find one.)
Reply With Quote
  #16  
Old 05-15-2009, 12:51 PM
weaponX's Avatar
Formerly weaponX6282
 
Join Date: Sep 2007
Posts: 1,353
Default

Quote:
Originally Posted by Liqwid View Post
DeLorean!

That or a new Tesla Roadster Sport, Aptera 2e, or an Ariel Atom 500.

(I'd also buy that speaker set plus a Mitsubishi LaserVue set, if I could find one.)
Only if it comes with a flux capacitor installed.... I tried to do the instal in my own car and I could not get it to handle the 1.21 gigawatts (or "Jigowatts for that matter) of electricty. It kept blowing out the time circuits. I need a professional to do the instalation as my expertise is not in the hardware, but in the theory.
Reply With Quote
  #17  
Old 05-15-2009, 01:00 PM
crazzeto's Avatar
Senior Member
 
Join Date: Nov 2007
Posts: 14,885
Default

Most poeple don't understand how you don't just buy a house, pay for it then your done... They also don't understand that even say, $400,000,000 is still in a actuality a limited amount of money, particularly when you factor in doing nothing to grow it, spending wildly and taxes. Did you know most people who win big in the lotto are bankrupt in a decade or less? That happens when you buy mansions and luxury items compulsivly with no thought to money management (becaus who needs to with that much)?

Personally if I won big (on the order I discussed) I would try to stick to living a decent middle class life, and only upgrade my life style as I become confident that I can afford to do so long term with out losing everything.
Reply With Quote
  #18  
Old 05-15-2009, 01:34 PM
grasp's Avatar
Senior Member
 
Join Date: Mar 2008
Posts: 3,985
Default

But a Mustang?
You could get yerself so many nice cars for the money..Mustang?
Reply With Quote
  #19  
Old 05-15-2009, 01:36 PM
crazzeto's Avatar
Senior Member
 
Join Date: Nov 2007
Posts: 14,885
Default

I like the mustang, and it's very affordable
Reply With Quote
  #20  
Old 05-15-2009, 01:43 PM
weaponX's Avatar
Formerly weaponX6282
 
Join Date: Sep 2007
Posts: 1,353
Default

Quote:
Originally Posted by crazzeto View Post
Most poeple don't understand how you don't just buy a house, pay for it then your done... They also don't understand that even say, $400,000,000 is still in a actuality a limited amount of money, particularly when you factor in doing nothing to grow it, spending wildly and taxes. Did you know most people who win big in the lotto are bankrupt in a decade or less? That happens when you buy mansions and luxury items compulsivly with no thought to money management (becaus who needs to with that much)?

Personally if I won big (on the order I discussed) I would try to stick to living a decent middle class life, and only upgrade my life style as I become confident that I can afford to do so long term with out losing everything.
Yes, I understand that. Do you understand those people are stupid? The ones that fail have no money management skills, that's why they are playing the lottery. Our plan is to be a millionaires before we're 40. we have 13 more years and my fiance and I are nearly halfway there. We aren't going to do it by hitting the lottery. We're doing it by smart money management and staying debt free. Hell, We bought a home in 2007 and nearly have 70% of the principle paid off. This wasn't by accident. It was through budgeting, planning and careful spending. Our motto is "live like no one else now, so you can live like no one else later". Effectively that means we have sacrificed buying tricked out new cars and fancy things to "keep up with the jones" so that when we are in our 40s we can retire, and enjoy life. We have zero credit card debt, we're paying everything in cash and we live within our means. That's why I was saying if for some off chance that I play and win the lottery why would I go bankrupt? I know what it takes to own a home, do you? You can't possibly know what it takes if you don't own your own home. Every month can present a new challenege, especially the first year. I've been saving for my first house since I was 16. I have only rented while I was in college and when I was moving for work. People that rent are only paying someone else's mortgage. Our society has to get out of this poisonous debt cycle and start living with what you have, not what you want.

If you buy things like real-estate in cash or other "luxury" items, you will always have some sort of equity in your possesions therefor you can never really be bankrupt... food for thought. Sure if you buy a $8 mil home and have to sell it for $5 mil you took a loss, but you still have $5mil if you paid for it in cash. Cash is the key remember that.

Just so you know, I'm not some grown up version of a spoiled brat. Both my parents were working class. I paid for my own college, i've bought all my own cars, I've been independent since 18 and have had nothing handed to me. You have to work and save if you want to live your life with crazy speakers and fancy cars all in your beautiful home. We (my fiance and I) are following the same path our parents did and my parents just retired at 50. They have enough liquid cash that they'll never have to worry about money again, and if worst comes to worst, they have made sound investments in real estate and the markets that they can fall back on.

If you play the lottery, good luck, you'll need it. My advice is every time you think about putting $5 down for a lottery ticket, maybe put it into a savings account or mutual fund or IRA or something that has a higher probability of paying off. If you go up to the plate every at bat and try to hit a home run, you'll strike out more often than not.

however, if you do win the lottery, congrats, you beat the odds. More people beat cancer than win the lottery so you must be blessed, but don't let your luck corrupt you. I bet when you have money to burn you'll have the urge to step out of you middle class lifestyle and do something crazy, everyone does. Even though we (my fiance and I) have financial security we get the urge to blow cash like its going out of style just because. It's then when you have to take a look at the big piture..... would you rather have an Audi R8 or retire at 35?


I feel bad that I have helped de-rail this conversation, perhaps this would be better off held in the water cooler. I just get excited when it come to personal finances.
Reply With Quote
Reply

Related Topics
Thread Thread Starter Forum Replies Last Post
'Lottery Ticket' - High-Def Digest Review Attebery Blu-ray Software General Discussion 5 11-26-2010 07:35 PM
'Lottery Ticket' is coming November 11 Landy Blu-ray Software General Discussion 1 09-29-2010 08:17 PM
Pinocchio Blu-ray Steelbook Lottery - $52 shipped joeags Blu-ray Disc Exchange 16 10-22-2009 02:40 PM
Sleeping Beauty Blu-ray Steelbook lottery - $42 + shipping joeags Blu-ray Disc Exchange 15 10-20-2009 03:11 PM
The Mega Lottery $340 Million Dollars BuyHDOnline The Water Cooler 10 03-07-2007 09:19 AM


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off