Teddy kgb Posted February 9, 2020 Report Share Posted February 9, 2020 If you were worth say 500m and 250 invested and 250 liquid (that means cash on hand right?) Wouldn’t it make sense to buy winning lotto tickets at a better price then the lotto offers? If someone wins the lotto say for 40m, 99.9% of them take the cash which means the lotto clips them for 20m right there If you offered them 21m for the ticket you made 19m right there (forget about taxes for now, clearly they’d be figured in the buy) You could litterly do this every week, could turn that 250m liquid 500m in payments to you. Remember, you already have maxed out your investments, this is your spending money.... Quote Link to comment Share on other sites More sharing options...
IAG Posted February 9, 2020 Report Share Posted February 9, 2020 If something makes sense, someone far smarter and richer than any of us would have figured it out, Quote Link to comment Share on other sites More sharing options...
Teddy kgb Posted February 9, 2020 Author Report Share Posted February 9, 2020 I’m as smart as anyone when it comes to thinking outside the box you can believe that Cap-a-roskie Quote Link to comment Share on other sites More sharing options...
mikeman Posted February 9, 2020 Report Share Posted February 9, 2020 If you were worth say 500m and 250 invested and 250 liquid (that means cash on hand right?) Wouldn’t it make sense to buy winning lotto tickets at a better price then the lotto offers? If someone wins the lotto say for 40m, 99.9% of them take the cash which means the lotto clips them for 20m right there If you offered them 21m for the ticket you made 19m right there (forget about taxes for now, clearly they’d be figured in the buy) You could litterly do this every week, could turn that 250m liquid 500m in payments to you. Remember, you already have maxed out your investments, this is your spending money....When you choose the cash option you are getting paid the same "time value" of money as taking the payments. For example using your figures, you could go to an ins co, pay them $20 million and sign a contract for them to pay you $40 million over the 20-30 year period the lottery does. Which is in fact what the lottery does(they purchase an annuity). As interest rates change so do the cash option payouts of major winners. Quote Link to comment Share on other sites More sharing options...
Teddy kgb Posted February 9, 2020 Author Report Share Posted February 9, 2020 Wrong Quote Link to comment Share on other sites More sharing options...
mikeman Posted February 9, 2020 Report Share Posted February 9, 2020 WrongNope. Right now interest rates are very low, so the future value of a series of payments is not as great, which is why the cash option on a $50 million jackpot might be 30-35, when interest rates are higher that same cash option might be 20-25. You're getting the same value either way, you really are. Quote Link to comment Share on other sites More sharing options...
RealSlimShady Posted February 9, 2020 Report Share Posted February 9, 2020 Shit, if I had 500M, I'd rather start spending it than think of making a few more %. Quote Link to comment Share on other sites More sharing options...
IAG Posted February 9, 2020 Report Share Posted February 9, 2020 Shit, if I had 500M, I'd rather start spending it than think of making a few more %. That was my first thought too. How much you need Ted? Quote Link to comment Share on other sites More sharing options...
Teddy kgb Posted February 9, 2020 Author Report Share Posted February 9, 2020 How much do I need? Endless funds..... Quote Link to comment Share on other sites More sharing options...
RealSlimShady Posted February 9, 2020 Report Share Posted February 9, 2020 Personally, I'd probably just put $50M away so I don't end up having to slum it in old age and spend $20M a year or more Quote Link to comment Share on other sites More sharing options...
FairWarning Posted February 9, 2020 Report Share Posted February 9, 2020 Personally, I'd probably just put $50M away so I don't end up having to slum it in old age and spend $20M a year or more Yeah. The problem with those people Is they get fucked or lose. Quote Link to comment Share on other sites More sharing options...
Dr. Paddy Posted February 9, 2020 Report Share Posted February 9, 2020 If you were worth say 500m and 250 invested and 250 liquid (that means cash on hand right?) Wouldn’t it make sense to buy winning lotto tickets at a better price then the lotto offers? If someone wins the lotto say for 40m, 99.9% of them take the cash which means the lotto clips them for 20m right there If you offered them 21m for the ticket you made 19m right there (forget about taxes for now, clearly they’d be figured in the buy) You could litterly do this every week, could turn that 250m liquid 500m in payments to you. Remember, you already have maxed out your investments, this is your spending money....buy Canadian lotto. One cheque. No tax. Quote Link to comment Share on other sites More sharing options...
mikeman Posted February 9, 2020 Report Share Posted February 9, 2020 Those co's that advertise they'll buy your ins payouts(It's my money and I want it now), are underbidding poor bastards for their lottery/ins payments. For instance, lets say you win that lottery $50 mill, cash option $25, but you take the payments. Those co's would offer you less than the 25, maybe 20 or even less, they're ripping you off. Quote Link to comment Share on other sites More sharing options...
MonkeyF0cker Posted February 9, 2020 Report Share Posted February 9, 2020 There are companies that do this already like J.G. Wentworth (if you've ever seen their commercials) but the person would have to have already claimed the annuity option. If you take the cash option, you'd break even with an inflation rate around 3.5%. So any inflation rate lower than that would be the only way you'd make money with your proposal. There would be better ways to invest that money. Even with historically low interest rates, you could just put it in bonds and probably get a better return. Quote Link to comment Share on other sites More sharing options...
nothing but winners Posted February 9, 2020 Report Share Posted February 9, 2020 What time do they start selling alcohol out in California? I can see why this guy is plugging shitters for a living, because he is way to stupid to do much else........ Shut your pie hole pal and wake the fuck up......You think someone with 500m wants to mess around trying to buy someone else’s winning lottery ticket? You are 1 dumb old man..... Grab your plunger pal and hit the shitter at the end of aisle 8 would ya???? a fucking toilet bowl may be smarter then this fucking old man........ You want to make a profit pal, get with he dollar shave club...........You personally would save a bunch of cash pal....... Quote Link to comment Share on other sites More sharing options...
housepicks Posted February 9, 2020 Report Share Posted February 9, 2020 I’d buy every blowmold for sale and corner the market. Quote Link to comment Share on other sites More sharing options...
MonkeyF0cker Posted February 9, 2020 Report Share Posted February 9, 2020 I’d buy every blowmold for sale and corner the market.You'd probably have to buy some land then. And a power plant. Quote Link to comment Share on other sites More sharing options...
FairWarning Posted February 9, 2020 Report Share Posted February 9, 2020 I have a Joseph, Mary, and Jesus at the house with a manger. Quote Link to comment Share on other sites More sharing options...
IAG Posted February 9, 2020 Report Share Posted February 9, 2020 You'd probably have to buy some land then. And a power plant. Quote Link to comment Share on other sites More sharing options...
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