last i check you can sell crack
Pre snort though.
…
Most of the time.
I play the lottery whenever it is $20 Million plus. This way I don’t play it often and it’s something to do every now and than.
I wasn’t doing the net gain just the cost, the fact that its -$255 after factoring that in kind of proves my point exactly though.
I know many low income people who play the lottery and where the bad money management skills decision judgement comes in at is that these people have much better ways that this money could be improving their life. People who have loans with interest would be better off paying down that debt than spending that money on the lottery. 1 in 23 million may be acceptable to some people, but it is in no way smart when you have bills that aren’t getting paid or debt you are paying the minimum balance on.
Again i’m not saying everyone who plays the lottery is in that situation, But people who aren’t in debt in this age in america where almost everyone is in debt, generally have enough financial sense NOT TO PLAY THE LOTTERY.
I’m sure more people who have debt throw money away at the casino than the lottery. Either way we are not getting rid of either of the two anytime soon. They are both staying, and you know what people putting a dollar into the lottery probably isn’t a bad thing. At least it’s better than them throwing it away at the tables. That money is most likely going to the state which could really use it right about now. Now we just need to figure out a way that the state use the money wisely. :rolleyes:
i misread the previous post
i thought the link was pretty relevant/informative!
than i shall repost it
http://ezinearticles.com/?Should-the-Federal-Government-Tax-Lottery-Winnings-in-Canada?&id=2991236
Dammit I was going to post about the Mega millions being in the 260+ million, but I check their website and someone won it a few weeks ago. :mad:
http://www.megamillions.com/mcenter/pressrelease.asp?newsID=DA461B8D-E66D-4795-8860-B8A379C2751C
I have to find the article, but there is a story about a guy who won the lottery TWICE in Canada…and blew them both.
OC
Finally read most of the article, so he lost it in a span of 8 years? Said he got a divorce, wondering if the wife got half…This isnt that bad, have you seen NBA players being broke & owing money…
How retarded must you be to do that :nono:
This guy’s problem wasn’t that he won the lottery or that he poor money management skills, it was that he is a SEVERE addict. The money just fueled his addiction and the chaotic behavior addicts have. This guy doesn’t have long to live, a year or two tops. You don’t just stop smoking that much crack because you run out of money. He’ll resort to stealing and either get murdered for his behavior or die of an overdose.
More than the petty “If you play the lotto, you have poor money management skills” argument going on, the fault I’d like to point out in the people going “That would never happen to me, I would do (this this this) with the money!” is suddenly, once a lot of people find out that you’ve won the lotto, suddenly you make a lot of “new friends”, or have a lot of “old friends” suddenly and coincidentally appear in your life again. You then have a ton of companies and people constantly bothering you for a donation.
So if a cousin of yours comes up to you and says “I need $25,000 for college!” If you say “yes”, then you’re gonna have a bunch of your other relatives or whoever going “well you gave so and so $25,000”. If you say “no”, then that cousin is gonna be like “You have a ton of money, but you’re not gonna share it? I see how it is.” Suddenly, the family/friends that used to like you either become vultures, or they don’t like you cause you don’t share the wealth. There’s more to life than money. Good health and a good relationship are better indicators of happiness in life than the amount of money you have. So even if people invest it and do everything right, they might lose “everything.”
It’s easy to say “I wouldn’t blow it all on crack and hookers, so I’ll be fine.” But the point isn’t really about that. Until you’re in that situation where you have all that money and have to suddenly deal with your new-found wealth, you really don’t know how it’s gonna turn out.
How many people do you know that won the lottery? Also just because you don’t know anyone who buys stock that doesn’t mean those people are representative of everyone around the world, the fact that the stock market exists in the first place and heavily traded commodities are a dime a dozen indicates that plenty of people do. Anyways you missed my point entirely, I was only giving examples of how the most logical thing to do with lottery winnings is to use them to generate a steady flow of income guaranteeing you’re set for life and possibly even increasing your winnings.
You need money to make money right?
You do know the percentage of Americans that own stock right?
You do know the percentages of Americans that own stock AND is not company compensation right (401k)?
And how many of that 6.6billion people around the world do you think own stock?
okay okay that was trick question cause obviously the number going to be low.
How many of the 300 million Americans you think own stock?
My point was and still is, not many people actually invest in stock nor do they even know how to or where to begin. I doubt many Americans even know how to look up stock and interpret the statistics.
this is more sad than bad, I mean 9.7 mill!? :o
You can’t use other examples of poor financial decision to disprove that something else is a bad financial decision.
I said playing the lottery is a bad choice if you have debts you can pay off and you said but a ton of people also spend money at casinos when they have debt.
A)Spending money at casinos when you could be paying down your is means you have poor money management skills too.
B) Saying that alot of people do it still doesn’t make it a good move, it just means alot of people make terrible financial decisions
As for owning stock its the same thing Most people don’t go out and buy stock and you’re right most people don’t even know where to start, but most of those people are middle to lower class, you better believe the top 10% of this country, you know the ones with all the money, are all about working the market and investments.
When i was in college they made us buy stock, not a simulation they actually made us go out and do research and buy our own stock so we knew how to do it. I also had multiple teacher hold discussions on the math of the lottery and why its not worth it to play using numbers and statistics,
things like these are the reason as i stated before lottery play goes down with higher education levels and stock ownership goes up.
Just to repeat you can’t use the fact that most people do it to prove is a good idea, what your actually proving is that most people don’t know how to handle money. Alot of people pick Ken and mash buttons that doesn’t make it good idea it just means most people who play fighting games are scrubs.
There is no way this guy smoked that much crack.
I went out and bought a powerball ticket today since it’s $260m :wow: