Mega Millions Up to $1.6 Billion

[dave1251]

Originally Posted by 02SE
Originally Posted by Patman
Originally Posted by 02SE
It's not a big deal to me. Just stating my opinion. If you and millions (billions of tickets purchased) of others want to throw your money away, go for it. The States that benefit from this voluntary tax on suckers err... participants, no doubt appreciate it.

If people had better discipline, or in some cases any understanding of financial matters, and didn't blow their money on useless crap, they'd have a much better chance of reaching their financial goals and maybe retiring while they are young enough to enjoy it.


I'm 48 years old and my wife and I are retiring in 2022, we'll both be 52 years old. And if one of those lottery tickets we buy gives us a win, we can retire even sooner (which is one of the reasons we buy the tickets)


I'm one year older, and have been retired doing only what I want for 16 years.


This makes you the authority to judge and tell others how to live? Up there must not be a good. Also how could someone be such a good financial planner and not know the difference between a bailout and loan?

 

[Patman]

Originally Posted by 02SE


I'm one year older, and have been retired doing only what I want for 16 years.


That is impressive for sure, but I'm sure the reason for such an early retirement for you is a lot more than just not spending money on lottery tickets.

 

[02SE]

Originally Posted by dave1251

This makes you the authority to judge and tell others how to live? Up there must not be a good. Also how could someone be such a good financial planner and not know the difference between a bailout and loan?


Dear Dave,

An opinion is just that. Pay the voluntary sucker tax if you like.

Also, how can someone not comprehend that either loan or bailout they were taxpayer dollars regardless of the specifics? Which was the point...

 

[02SE]

Originally Posted by Patman
Originally Posted by 02SE


I'm one year older, and have been retired doing only what I want for 16 years.


That is impressive for sure, but I'm sure the reason for such an early retirement for you is a lot more than just not spending money on lottery tickets.


Absolutely there's more involved.

But in most cases I've seen of those buying lottery tickets is it's just another in a long line of poor financial decisions and planning, or no planning at all. My oldest sister is a prime example. She has no savings, and no plan for retirement beyond collecting SS. Her problem has always been that she spends most of her money on the latest and greatest whatever, and other useless crap, including lottery tickets.

But hey, there's that chance that she'll win big, and I won't be taking care of her in her later years.

 

[Patman]

My beef is when you call people stupid that buy lottery tickets. A lot of very smart people buy them, and I am insulted by your insinuation that I'm stupid for choosing to spend some of my hard earned money on them. It's not as if that's my plan for retirement or anything. Now that would be stupid.

 

[SatinSilver]

Originally Posted by Patman
My beef is when you call people stupid that buy lottery tickets. A lot of very smart people buy them, and I am insulted by your insinuation that I'm stupid for choosing to spend some of my hard earned money on them. It's not as if that's my plan for retirement or anything. Now that would be stupid.


There will always be people that think that way. Of course the less people that buy tickets the better your odds of winning. Plus it's easy for them to talk that way online versus telling you that in person which I'm sure they wouldn't do.

 

[kschachn]

Originally Posted by SatinSilver
Of course the less people that buy tickets the better your odds of winning.

No, your chances of winning are the same. However, your chances of being the sole winner will change.

 

[02SE]

Originally Posted by Patman
My beef is when you call people stupid that buy lottery tickets. A lot of very smart people buy them, and I am insulted by your insinuation that I'm stupid for choosing to spend some of my hard earned money on them. It's not as if that's my plan for retirement or anything. Now that would be stupid.


You're entitled to your opinion, too.

 

[Andrew1972]

Originally Posted by 02SE
It's a tax on the stupid...



Buying one not really, free choice. Buying a bunch thinking your chances really increase significatly you don't understand math stats that well.

 

[Wolf359]

Originally Posted by madRiver
Originally Posted by 02SE
It's a tax on the stupid...



Buying one not really, free choice. Buying a bunch thinking your chances really increase significatly you don't understand math stats that well.


Well if you bought about 303 million unique ones, then you pretty much have a winner, but the whole thing falls apart if you have to split it with more than 2 people.

 

[gman2304]

If one doesn't buy a ticket, aren't the chances of winning like, zero ?

 

[Warstud]

Odd of winning is 1 in 303 million. Us population is 327 million. hmm

 

[Hammerguy]

We have a winner! Someone in South Carolina did it. Luckily you can remain anonymous there.

 

[Patman]

Originally Posted by Warstud
Odd of winning is 1 in 303 million. Us population is 327 million. hmm


The one good thing about our lotteries up here is that they are easier to win. Our Lotto 649 (which has jackpots starting at $5 million and can reach $50 million sometimes) has odds of winning of 1 in 14 million. Our Lotto Max draw (which starts at $10 million and maxes out at $60 million) has odds of 1 in 28 million. So even though the chances are slim, they are still considerably better than the Powerball or Megamillions.

 

[Shannow]

Originally Posted by Hammerguy
We have a winner! Someone in South Carolina did it. Luckily you can remain anonymous there.


Bet that they are happy considering that others thought that they had ZERO chance of winning.

 

[HemiHawk]

That winner must be pretty excited.

PowerBall tonight

 

[StevieC]

Originally Posted by Patman
Originally Posted by Warstud
Odd of winning is 1 in 303 million. Us population is 327 million. hmm


The one good thing about our lotteries up here is that they are easier to win. Our Lotto 649 (which has jackpots starting at $5 million and can reach $50 million sometimes) has odds of winning of 1 in 14 million. Our Lotto Max draw (which starts at $10 million and maxes out at $60 million) has odds of 1 in 28 million. So even though the chances are slim, they are still considerably better than the Powerball or Megamillions.


Yeah and right now Max lottery for this Friday is 60 Million jackpot plus 55x $1M bonus prizes with it as well which is awesome. Also great that our lottery winnings are tax free here!

 

[Patman]

Originally Posted by StevieC


Yeah and right now Max lottery for this Friday is 60 Million jackpot plus 55x $1M bonus prizes with it as well which is awesome. Also great that our lottery winnings are tax free here!

I love that fact! I just hope our greedy government doesn't decide to change that in the future though.

I don't buy Lotto Max every week, only when it's $50 million or more. And also when it's $50 million or more we play at work too, usually there are about 20 of us involved. My wife is also in a work play for Lotto Max too. I'd be pretty happy with this week's Lottario draw though, at $1.6 million.

 

[quint]

A friend of mine won $25,000,000 in the Ohio lottery in the late '90's, the result of tossing a spare $5 bill tossed on the counter while buying beer on a Friday night. What an idiot! If you'd like his contact info so you can call him up and tell him how stupid he is, let me know. You can find him somewhere between Hawaii, his house in Florida, and his house here in Ohio. Though most of the time he and his wife are riding their Harleys up and down the Florida east coast. Those fools.

About a year after they won, a girl I sat next to in the office here won $20,000,000. How dumb! She could have invested that $10. I dont have regular contact with her anymore, she quit about 3.62 seconds after she won. I did run into her at a church festival a few years ago, beer in hand, a huge smile on her face. She was miserable. She kept dropping $20's out of her pocket, the leaning over to pick them up was the most physical labor she has done in years. That'll teach her! If she had not won the lottery, she wouldnt have that problem. Apparently even obscene amounts of money cant fix stupid.

My wife gets in her office pool a few times a month, if even that often.I myself rarely play. Sometimes I think I should, how many people know someone who has won? Now how many know two people, and only a few months apart? What are the odds of that?

I think I'll stop typing now, and go buy a lottery ticket.....

 

[Patman]

Originally Posted by quint


My wife gets in her office pool a few times a month, if even that often.I myself rarely play. Sometimes I think I should, how many people know someone who has won?



As I already mentioned, someone I know's grandparents won $12 million. I also know someone who's dad won $1 million. My wife's boyfriend in high school won $200,000 (that was 30 years ago so that's like winning a million today) My wife's uncle won $100,000. One of my mom's best friends won $250,000. I personally won $6600 in an online contest in 2010 and my wife won $6000 in a radio contest in 2017.

Lots of stupid people I guess.