179
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 23 Nov 2023
179 points (97.4% liked)
News
21693 readers
4232 users here now
Welcome to the News community!
Rules:
1. Be civil
Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. Trolling is uncivil and is grounds for removal and/or a community ban.
2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.
Obvious right or left wing sources will be removed at the mods discretion. We have an actively updated blocklist, which you can see here: https://lemmy.world/post/2246130 if you feel like any website is missing, contact the mods. Supporting links can be added in comments or posted seperately but not to the post body.
3. No bots, spam or self-promotion.
Only approved bots, which follow the guidelines for bots set by the instance, are allowed.
4. Post titles should be the same as the article used as source.
Posts which titles don’t match the source won’t be removed, but the autoMod will notify you, and if your title misrepresents the original article, the post will be deleted. If the site changed their headline, the bot might still contact you, just ignore it, we won’t delete your post.
5. Only recent news is allowed.
Posts must be news from the most recent 30 days.
6. All posts must be news articles.
No opinion pieces, Listicles, editorials or celebrity gossip is allowed. All posts will be judged on a case-by-case basis.
7. No duplicate posts.
If a source you used was already posted by someone else, the autoMod will leave a message. Please remove your post if the autoMod is correct. If the post that matches your post is very old, we refer you to rule 5.
8. Misinformation is prohibited.
Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.
9. No link shorteners.
The auto mod will contact you if a link shortener is detected, please delete your post if they are right.
10. Don't copy entire article in your post body
For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.
founded 1 year ago
MODERATORS
I’ve read the famous lottery post enough times to know the major bullet points to follow after winning (not that I’ll ever win, because I don’t play the lottery):
Bad advice. I'd rather:
So you'll be taking the smaller lump sum rather than the larger amount paid out in installments?
Am I missing the joke here? You do know the lump sum is always the better option right?
You are missing the joke here, because if I do (2. Die) then I won't be getting the payment installments
Not if you want financial security until you die.
Pretty sure the math works out on even dumping the lump in a jumbo savings and giving you better dividends than the lifetime payment plan. You can obviously way outperform that with extremely stable index funds and other safe investments. You do you though
Getting a lump sum of $500m will forever alter your life for the better in the same way as receiving it over 30 years. You will have financial security for the rest of your life in either situation. Its better to receive it all in one lump sum and investing a larger portion now for bigger returns later rather than investing a sum yearly for returns you may not ever see
You might want to look up what happens to lottery winners and their money.
Are there any reports regarding 9+ figure winnings? Because I've definitely heard and read of 1-2 million dollar winners going broke quite quickly, but a billion dollars is an absolutely monstrous amount of money that I would struggle to spend entirely on purpose.
The resdit post referred to by the top level comment mentions that winners of very large jackpots turn up dead with alarming frequency.
Also the bigger the jackpot the more people get sued, family kidnapped, harassed, etc. A miserable existence apparently.
Yeah, this is the way.
I briefly worked at a convienice store that sold lotto tickets, and people should be aware that the default is the smaller lump sum. The operators have to change a couple things when they get the ticket made.
However most people do a random "quick pick" over filling out the associated forms to select individual numbers, pay out type, etc.
That being said, mathematically if you do win, and take the lump sum and invest it positively, it can out "earn" the staggered payments, resulting in more money.
However, the mathematically inclined rarely play lottery type games, I mean they give you the odds on the ticket.
You're more likely to be hit by lightning on a clear day than winning the jackpot.
But hey, a couple bucks, some wishful thinking, and its cheap entertainment for a short while imagining what to do with the winnings.
I realize the odds are totally stacked against me, but when it gets to 1b I'll buy a ticket, just on the off chance, lol.
You can do that now, without playing or winning the lottery.
@snaptastic Please notify me if this comment does not satisfy your relevancy requirements.
I've heard that hookers are a great investment.
Especially when you pair them with blackjack. Then when you make enough money, you can open a theme park.