TTQ B4U Posted August 13, 2011 Report Share Posted August 13, 2011 http://news.yahoo.com/video/world-15749633/laid-off-workers-hit-canadian-lotto-jackpot-26262465.html Cliffs: 18 workers in Canada win $7M or $388k ea. Not a huge amount after taxes but gross vs gross they said it's equal to about 12yrs worth of pay. For a group of $32k/yr blue collar people, that's cool. Nice to hear that at least those who work hard and fell on hard times are getting made whole when they need it most. Guy interviewed said, it's not life changing but at least keeps them comfortable. Reminder...spend at least $1 this week on lotto. Good Shit sometimes does happen. Quote Link to comment Share on other sites More sharing options...
El Karacho1647545492 Posted August 13, 2011 Report Share Posted August 13, 2011 Reminder...spend at least $1 this week on lotto. Good Shit sometimes does happen. Reminder...never take financial advice from CR. Quote Link to comment Share on other sites More sharing options...
Bobby Lee Posted August 13, 2011 Report Share Posted August 13, 2011 I've always argued that playing the lottery once a week is a legitimate investment. So what if you never win. Most people spend far more than $52 a year on random crap (sodas, candy bars, etc.). Why not put that cash towards the possibility of winning millions of dollars? Quote Link to comment Share on other sites More sharing options...
Littleguy Posted August 13, 2011 Report Share Posted August 13, 2011 Cool story. Quote Link to comment Share on other sites More sharing options...
Buck531 Posted August 14, 2011 Report Share Posted August 14, 2011 I have three entry tickets I need to send into the Cash Explosion game show so I can wait and waste time for when they won't pick my name. Quote Link to comment Share on other sites More sharing options...
Mojoe Posted August 14, 2011 Report Share Posted August 14, 2011 I play the lotto when I'm in town and not traveling. Here's how I look at it: If I spend $10 a week on the mega millions, that's $40 a month. I spend $200 a month on insurance that I have never used for over 17 year's. Meaning I have never filed a claim, but I spend $200 a month to ensure if I have an accedent, I am covered. So my thought is is I spend $40 a month on the lotto, insurance for being rich one day, now it's like I'm waiting for that accident to happen. Now if you look at it from and investment point, we blow $40 on way more shit that we don't care about that will never pay off in the way the lotto could. And even if you never win, have you really lost that much? It's like having an insurance policy to get money. That's my .02 on it. Quote Link to comment Share on other sites More sharing options...
ImUrOBGYN Posted August 14, 2011 Report Share Posted August 14, 2011 I play the lotto when I'm in town and not traveling. Here's how I look at it: If I spend $10 a week on the mega millions, that's $40 a month. I spend $200 a month on insurance that I have never used for over 17 year's. Meaning I have never filed a claim, but I spend $200 a month to ensure if I have an accedent, I am covered. So my thought is is I spend $40 a month on the lotto, insurance for being rich one day, now it's like I'm waiting for that accident to happen. Now if you look at it from and investment point, we blow $40 on way more shit that we don't care about that will never pay off in the way the lotto could. And even if you never win, have you really lost that much? It's like having an insurance policy to get money. That's my .02 on it. But I could spend $40 on even more shit! And that could be anything. Even a lotto ticket! Quote Link to comment Share on other sites More sharing options...
Slowbalt Posted August 15, 2011 Report Share Posted August 15, 2011 Lottery = tax on people that can't do math 1 Quote Link to comment Share on other sites More sharing options...
El Karacho1647545492 Posted August 15, 2011 Report Share Posted August 15, 2011 I love this reasoning: "Well, I spend money on things I don't really need anyways, so spending money on other things I don't need that has a 1 in a trillion chance of paying me is a good investment!" and +rep to the comment above mine Quote Link to comment Share on other sites More sharing options...
Mojoe Posted August 15, 2011 Report Share Posted August 15, 2011 I love this reasoning: "Well, I spend money on things I don't really need anyways, so spending money on other things I don't need that has a 1 in a trillion chance of paying me is a good investment!" and +rep to the comment above mine Can't win if you don't play. It's a chance. I suppose smoking or drinking will have better odds of paying off down the road? Quote Link to comment Share on other sites More sharing options...
Nitrousbird Posted August 15, 2011 Report Share Posted August 15, 2011 From what my inlaws have told me, there is no tax on lotto winnings in Canada. This means they got a lot more money than you thought they did. Quote Link to comment Share on other sites More sharing options...
TTQ B4U Posted August 15, 2011 Author Report Share Posted August 15, 2011 Can't win if you don't play. It's a chance. I suppose smoking or drinking will have better odds of paying off down the road? Best comment in the thread thus far. Quote Link to comment Share on other sites More sharing options...
Sturg1647545502 Posted August 15, 2011 Report Share Posted August 15, 2011 I've always argued that playing the lottery once a week is a legitimate investment. playing the lottery once a week is a legitimate investment. a legitimate investment. wat Quote Link to comment Share on other sites More sharing options...
Trouble Maker Posted August 15, 2011 Report Share Posted August 15, 2011 Can't win if you don't play. It's a chance. I suppose smoking or drinking will have better odds of paying off down the road? Well your chances of getting cancer with either of those is much higher than your chances winning the lottery!:lolguy: Quote Link to comment Share on other sites More sharing options...
SpaceGhost Posted August 15, 2011 Report Share Posted August 15, 2011 Amazing what a little bit of money saved becomes over time, I started putting $20 in a savings account automaticlly deposited from my pay when my daughter was born. After a couple of months you don't even notice it's missing. She is almost 4.5 YO. This is her wedding dress/first car fund. Her college fund is a separate account. I looked the other day at the account for the fist time in a couple years, and she almost has $2500. I don't play the lotto. I just save the money I would spen on it. I started my account for my son's first car a couple of months ago. So if this place is around in 16 years you can give him shit for the car he has that Mommy and Daddy bought him. Quote Link to comment Share on other sites More sharing options...
El Karacho1647545492 Posted August 15, 2011 Report Share Posted August 15, 2011 Can't win if you don't play. It's a chance. I suppose smoking or drinking will have better odds of paying off down the road? Please point out where I claimed smoking and drinking were a good investment. I'm not saying you're an idiot if you play the lottery. I'm saying you're an idiot if you play the lottery thinking its a better investment than, say, saving money. The cost of drinking is an equally poor investment, depending on what benefit you seek. I seek the benefit of stress relief/lowered inhibitions/social situations offered by drinking. Alcohol usually delivers these results in a reliable way. If what you seek in playing the lottery is to win the lottery, then you're making a poor investment because the chances of you coming out with a winning ticket are absurdly stacked against you. If, however, the benefit to you of playing the lottery is a rush from the opportunity to win, then you can consider it a wise investment I suppose. Quote Link to comment Share on other sites More sharing options...
Trouble Maker Posted August 15, 2011 Report Share Posted August 15, 2011 Everyone waste their money on something. Its up to the individual what they chose to waste their money on. What is a foolish decision to you might be easily justified to someone else and vice-a-versa. If people could just look outside of their own situations and try not to be so judgemental this world would be so much better off. But hey isn't that what being human and having an Internet connection is for; to be judgmental of others decisions and being perfect (in only your own eyes) in all of the decisions you make! Quote Link to comment Share on other sites More sharing options...
El Karacho1647545492 Posted August 15, 2011 Report Share Posted August 15, 2011 Everyone waste their money on something. Its up to the individual what they chose to waste their money on. What is a foolish decision to you might be easily justified to someone else and vice-a-versa. If people could just look outside of their own situations and try not to be so judgemental this world would be so much better off. But hey isn't that what being human and having an Internet connection is for; to be judgmental of others decisions and being perfect (in only your own eyes) in all of the decisions you make! Cue internet dickwad theory Quote Link to comment Share on other sites More sharing options...
Mojoe Posted August 15, 2011 Report Share Posted August 15, 2011 Please point out where I claimed smoking and drinking were a good investment. I'm not saying you're an idiot if you play the lottery. I'm saying you're an idiot if you play the lottery thinking its a better investment than, say, saving money. The cost of drinking is an equally poor investment, depending on what benefit you seek. I seek the benefit of stress relief/lowered inhibitions/social situations offered by drinking. Alcohol usually delivers these results in a reliable way. If what you seek in playing the lottery is to win the lottery, then you're making a poor investment because the chances of you coming out with a winning ticket are absurdly stacked against you. If, however, the benefit to you of playing the lottery is a rush from the opportunity to win, then you can consider it a wise investment I suppose. I understand the complexity of my generalizing. Sorry. I should have explained that many people spend money on smoking or drinking. Generalizing that the equivalent amount of $40 a month is easily spend on that. Perhaps you took it as, "Hey everybody, Alex smokes and drink $40 worth in a month." "What a dip shit". No, Not what I meant. I guess if my only expense's are my car's and bike, I can risk $40 a month. The lotto is not something I expect to win, but damn, it would be pretty cool. It's an opportunity to win, by playing it. I also don't expect to have a career as a Rally driver, but given the opportunity, I'm absolutely going to do it. I make a lot of bad investments for a guy who's pretty much dept free. That's how I got to where I am. It suck's I'm on track to retire by age 50 and live comfortably. I'm enjoying my life and live it. Alex, I'm talking to you now BTW. You are an over opinionated, self absorbed fool who chooses to have the mind set that if someone's out look is different than yours, they are the fool. There are many ways to do things. I respect your view for how you make your choices. You do what you are comfortable with. I'm not posting on here to tell people to live their lives the way I think they should. Quote Link to comment Share on other sites More sharing options...
El Karacho1647545492 Posted August 15, 2011 Report Share Posted August 15, 2011 Alex, I'm talking to you now BTW. You are an over opinionated, self absorbed fool who chooses to have the mind set that if someone's out look is different than yours, they are the fool. I'm not opinionated, I'm just right all the time :gabe: Quote Link to comment Share on other sites More sharing options...
SpaceGhost Posted August 19, 2011 Report Share Posted August 19, 2011 #9 on the top 12 things you should stop buying. http://moneyland.time.com/2011/08/19/12-things-you-really-should-just-stop-buying/slide/9-lottery-tickets/ Quote Link to comment Share on other sites More sharing options...
87GT Posted August 19, 2011 Report Share Posted August 19, 2011 Compound interest is a greater investment then a slim to none chance of winning fist fulls of cash. Quote Link to comment Share on other sites More sharing options...
Drewhop Posted August 19, 2011 Report Share Posted August 19, 2011 Going to buy lottery ticket. Quote Link to comment Share on other sites More sharing options...
Sully Posted August 19, 2011 Report Share Posted August 19, 2011 Going to buy lottery ticket. The Mega drawing is tonight, right? Might have to stop at the store on the way home. Quote Link to comment Share on other sites More sharing options...
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