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33 folks split 117 million


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#1 of 18 David McGough

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Posted October 12 2004 - 01:38 PM

33 folks in a local buisness won the 217 Million.
Id say there will be some openings. 117 after taxes
3.5 mill a person
http://www.cnn.com/2.....ap/index.html
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#2 of 18 Christ Reynolds

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Posted October 12 2004 - 02:02 PM

wow, just think of all the lottery tickets you could buy with that money.

CJ
And then when I feel so stuffed I can't eat anymore, I just use the restroom! And then I CAN eat more!

#3 of 18 Raymond_H

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Posted October 12 2004 - 03:20 PM

Quote:
Smith said the winners made up roughly three-fourthsof the work force at Sussex Printing, which publishes a local advertising shopper called The Guide.


Sucks to be the 1/4 that didn't go in the pool.

Ray

#4 of 18 David McGough

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Posted October 12 2004 - 03:58 PM

That would be hard to live with, the rest of your poor days.
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#5 of 18 Francois Caron

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Posted October 13 2004 - 04:23 AM

Aren't the payments spread out over a 25 year lifespan?

217/33/25 = $263,030.30 per year.

Even after taxes, that's still pretty decent! No need to work anymore, and you can still have a very comfortable lifestyle.

#6 of 18 Holadem

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Posted October 13 2004 - 04:33 AM

Quote:
Sucks to be the 1/4 that didn't go in the pool.
Sucks to be the owner of a business where 3/4 of the work force quit overnight.

--
H

#7 of 18 Zen Butler

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Posted October 13 2004 - 04:35 AM

What in tarnations is a "folk?"

bladerunner-thumb-510x227-39115_zpse210a


#8 of 18 Jon_Gregory

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Posted October 13 2004 - 06:05 AM

Zen, that is what us southern folk call a person. Posted Image

For instance:

33 people
33 folks

Same meaningsPosted Image

#9 of 18 Jim J

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Posted October 13 2004 - 06:14 AM

sounds like they took the cash option 117 cash instead of 217 worth of payments for 30 (40?) years.

I don't know if you can quit with 2.5Mill in the bank. guess it would depend on the lifestyle you are used to. at least my wife would quit tho...

Jim J

#10 of 18 Malcolm R

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Posted October 13 2004 - 06:31 AM

If invested properly, I doubt any of them would ever have to worry about working to support themselves again. Just some "busy work" to stave off boredom. I've always thought that even if I won a big lottery, I'd still have to do something, whether that was working for someone else or owning my own business of some sort.

Then again, $2.2 million is $50,000/year for 44 years even if you just live off the principal. I'd imagine most of them weren't making $50K at the print shop so they could probably maintain their current "lifestyle" for even longer.

Sucks to be the 1/4 that didn't go in the pool.
That's what I was thinking. Posted Image Wonder if the 1/4 of losers will try any frivolous lawsuits...I've been in the pool every other week, I just happened to be sick on the day they collected for the tickets this time!
The purpose of an education is to replace an empty mind with an open mind.

#11 of 18 Zen Butler

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Posted October 13 2004 - 07:14 AM

Thank you Jon. Posted Image I wanted to be sure. I was going to say, that's a crapload of parents.

bladerunner-thumb-510x227-39115_zpse210a


#12 of 18 Christ Reynolds

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Posted October 13 2004 - 08:40 AM

Quote:
I don't know if you can quit with 2.5Mill in the bank. guess it would depend on the lifestyle you are used to
i dont know about other people, but the way i spend money, i could quit working with a hell of a lot less than 2.5 million in the bank.

CJ
And then when I feel so stuffed I can't eat anymore, I just use the restroom! And then I CAN eat more!

#13 of 18 Chris Rosene

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Posted October 13 2004 - 08:59 AM

Jeez . .$2.2M invested at a measly 4% (I'm sure you could do better with that size of investment) is $88,000 a year in interest alone. Easily enough to retire on.

#14 of 18 Ted Lee

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Posted October 13 2004 - 08:59 AM

Quote:
I'd imagine most of them weren't making $50K at the print shop so they could probably maintain their current "lifestyle" for even longer.
problem is all that money makes it hard to maintain the current lifestyle. them folks want a *new* lifestyle now!

i've always said, if i win the lotto, i will do a few things. in order:

1. change my address and phone. (possibly my name)
2. buy my porsche 911 turbo
3. go hang out with some monks for about a year

i think step 3 is *really* crucial. i hope it would help me keep my head straight after that kind of windfall.

after i come back from the monks, all else is fair game!
 

#15 of 18 Jon_Gregory

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Posted October 13 2004 - 09:12 AM

Yes, we all say that we could live on 2.5 mil in the bank. But you know that there is a big percentage of lotto winners that go bankrupt. We can all say that we can live on that much, but until it happens to you, you will never know. I have never heard of a person winning the lottery of any decent size not changing their lifestyle to a much more lavish one with higher spending. And I try to tell myself that I would just pay off my house, buy new cars and just go on living blah, blah, blah. I know that would probably not be the case if I got a hold of 2.5 mil.

#16 of 18 Ryan Wishton

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Posted October 13 2004 - 06:42 PM

I have lived 3 seperate lifestyles.

Low Class, Middle Class, Lower-High Class.

After living poor for awhile, I could never see myself ever blowing through it on purpose.

Many people blow it (I was shocked to hear how many Lottery winners lose it all), but I wouldnt be one of them. The people who most likely blow it probably just didnt know much about money or how to deal with it.

Money is something you have to learn about or be taught about. At least if you plan on keeping it.

A cousin of mine even says things like "I have to spend this money because it is burning a hole in my pocket". Really bad way to view money.

Well, have fun being broke. I wont be joining you.

Also, too many people use credit for luxery items like Tv's, Jewelry, etc. My rule is if I cant pay cash, I wont be getting it. It it takes 2 years to buy that new tv, well then thats how long it takes. But, it must be cash. Credit for me if for emergency use only. The thought of paying interest on something has always annoyed me, so it keeps me away as well.

It did take me time and a few hard times (as a child) to learn that. I used to spend everything I had as a young teen/young child. I would never do that again.

When I have a big sum of money, I would live off the interest. $88,000 a year extra income for example is still a lot of money in many areas and you could still have a fine lifestyle.

#17 of 18 Greg Haynes

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Posted October 14 2004 - 12:39 AM

It crazy to hear someone win that much money in my home state. Their only 30 minutes south of me. Our state is so small that you really never hear about anyone getting that much money. Good for them!

#18 of 18 Chris Lockwood

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Posted October 14 2004 - 02:31 PM

> I don't know if you can quit with 2.5Mill in the bank.

Considering that's more than most people make in their lifetimes, I would certainly hope so.


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