Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
An acquaintance filed for bankruptcy. A few weeks later, won a million. A few weeks later, his home was flooded in a hurricane.
Eating my own cooking is the only gambling I do.
If the acquaintance comes into any money within 6 months of a BK, they might have to pay their creditors back. Someone can correct me if I am wrong but I remember seeing that in the BK article.
Government lotteries are definitely "redistributive upward". The demographic data on lottery customers look quite regressive. It's not the top 1% that drives lottery ticket sales.
If the acquaintance comes into any money within 6 months of a BK, they might have to pay their creditors back. Someone can correct me if I am wrong but I remember seeing that in the BK article.
What happens if a BK person buys a (winning) ticket on day 90 and doesn't cash it in until day 300?
Government lotteries are definitely "redistributive upward". The demographic data on lottery customers look quite regressive. It's not the top 1% that drives lottery ticket sales.
So what you are saying is the people who really could use the money take a chance on buying lottery tickets while those who don't need the money, don't. Kinda figures.
We will spend $20 on a Powerball or a Mega Millions but only if the jackpot is over $200 million. We then get hours of fun and laughs talking about how we would spend it.
We don't need to win millions because we live just fine how we are. But is is fun to fantasize on becoming ridiculously rich.
We will spend $20 on a Powerball or a Mega Millions but only if the jackpot is over $200 million.
I always find this curious.
Mind you, I don't bother buying lottery tickets. I'm just fascinated by the thinking process that holds that $150 million or $100 million just isn't worth the effort - but that $200 million or more is.
See, I've thought about wealth. I can't see wanting a home worth even $1 million - there's only so many bedrooms and bathrooms a person can use. I might like two or three homes, say, one in my home town and a lake home up north and perhaps a winter condo somewhere where it doesn't snow. But I highly doubt I'd ever spend more than $2 million on the trio. And vehicles? I'm strictly utilitarian. Well... that's not true - I could go for a beautiful 1969 Mustang fastback with something nice under the hood and some modern aftermarkets. But that could be had for less than six figures. What else is there? I don't want a private jet - the money to travel anywhere first class is more than enough. Servants? No, thanks. So I really can't see wanting an income of more than half a million per year (and I doubt I'd spend anywhere close to even that). I don't want to buy a sports time or finance movies or collect incredibly rare coins.
So, being 48 years old, maybe $3 million to just blow on homes and some vehicles, and $15 million as income-generator, plus another $2 million to squirrel away as cash and bonds and gold 'just in case'. That's $20 million total, and I'm doubtful that I'd even spend that. Hell, if I inherited $200 million, I'd give most of it away. That's what I'd probably do with my life - establish a foundation and dole it out to various causes that strike my fancy.
If I was a lottery player, I just can't see turning up my nose at 'a mere' $100 million!
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
