Can someone answer this...

hammer1hammer1 Posts: 1,403 ✭✭✭✭

Why do some people not buy lottery tickets because they say, "I wouldn't know what to do with all that money."

Others say I don't mind winning, but I don't want anything over a million.

What gives?

Comments

  • DeutscherGeistDeutscherGeist Posts: 2,434 ✭✭✭

    With lots of money comes lots of unwanted attention. Relatives and friends come out of nowhere wanting to rekindle a relationship. You never know if someone is your true friend or simply an opportunist.

    Those that want nothing more than a million dollars probably just want a paid off house and money for a rainy day, but nothing flashy that would attract undue attention. It would not change their lifestyle as they would continue to work, but with more peace of mind. If one had so many millions that one did not need to work, then it might alienate that person from his or her peers who do work for a living. One might be ready to take an expensive two week vacation on a whim, but the peers would have to plan that, and yet it is questionable if they can even afford it. It can drive friends apart since they relate less and less with one another.

    This just applies to some people. I am sure there are more voices out there.

    DeutscherGeist

    "Where the mind leads, the body will follow" --Don Mattingly

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  • JoeBanzaiJoeBanzai Posts: 6,571 ✭✭✭✭✭

    @hammer1 said:
    Why do some people not buy lottery tickets because they say, "I wouldn't know what to do with all that money."

    Others say I don't mind winning, but I don't want anything over a million.

    What gives?

    I don't get it either.

    Show me the MONEY!

    2013,14 and 15 Certificate Award Winner Harmon Killebrew Master Set and Master Topps Set
  • LarkinCollectorLarkinCollector Posts: 7,238 ✭✭✭✭✭

    I would hook up my immediate family and become an expat in an undisclosed country where very few that I know now would know how to reach me and no one there would have any idea of my wealth.

  • thisistheshowthisistheshow Posts: 2,491 ✭✭✭✭✭

    Slightly different, but I knew a guy who didnt work say the first thing he would do is start a business. I said "So you're saying you don't work now, but if you win the lottery you are getting a job?"

  • MCMLVToppsMCMLVTopps Posts: 3,313 ✭✭✭✭

    I've never heard either comment. Having spent most of my life in the Federal Government in one agency or another, I have heard..."I wouldn't even call in", "I'd just disappear", it went on and on, lots and lots of expletives.

    On the retirement thing...some made a big deal about it, limo, flowers (bought themselves), big farewell lunch. Most just quietly went out the door. Friday being the magic day for retirements, several people would simply never be seen again, but did change their voice mail to simply "I am now retired". Some were key individuals that really left some gaping holes in certain projects.

    Me? I told my boss, no cards, no lunch, no nada. I just want to shake your hand, hand you the sticker off my car, along with my badge and wish you well. That is exactly what I did...a few knew I was leaving...LOUD music all the way home!!! B)B)
    Freedom and a nice pension...life is good.

  • doubledragondoubledragon Posts: 3,616 ✭✭✭✭✭

    If I won the lottery I would finally have enough money to finance my dream of becoming Batman.

    Hello, I'm a Joe Louis card addict.

  • TabeTabe Posts: 3,627 ✭✭✭✭

    Even if hyper-vigilant, getting a large sum of money like that can be a huge source of stress. Even people you've known, loved, and trusted for decades will stab you in the back or behave in an evil fashion. And a lot of people wouldn't want to deal with that.

    Personally, I wouldn't mind trying to deal with that particular problem :)

  • 2dueces2dueces Posts: 1,869 ✭✭✭
    edited January 28, 2020 5:40PM

    When I was 18 and was entering minor league baseball they taught us an economics course among others. The gist was you could spend $20 a week on the lottery with the odds a 1 in 70 million to become a millionaire or put $20 a week in a 401k. With compound interest you would be assured to be a millionaire at 65. I never purchased a lottery ticket, didn’t make it in baseball but I heeded his advice and I will be 65 next year.



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  • grote15grote15 Posts: 27,457 ✭✭✭✭✭

    @2dueces said:
    When I was 18 and was entering minor league baseball they taught us an economics course among others. The gist was you could spend $20 a week on the lottery with the odds a 1 in 70 million to become a millionaire or put $20 a week in a 401k. With compound interest you would be assured to be a millionaire at 65. I never purchased a lottery ticket, didn’t make it in baseball but I heeded his advice and I will be 65 next year.

    Cool story!



    Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
  • perkdogperkdog Posts: 20,516 ✭✭✭✭✭

    Never heard of anyone saying that but I’d have no problem with winning any amount. First order of business would be to NOT hire a financial planner or whatever 🙄

  • perkdogperkdog Posts: 20,516 ✭✭✭✭✭

    @2dueces said:
    When I was 18 and was entering minor league baseball they taught us an economics course among others. The gist was you could spend $20 a week on the lottery with the odds a 1 in 70 million to become a millionaire or put $20 a week in a 401k. With compound interest you would be assured to be a millionaire at 65. I never purchased a lottery ticket, didn’t make it in baseball but I heeded his advice and I will be 65 next year.

    Did your plan hit the 1 Million mark or what?

  • doubledragondoubledragon Posts: 3,616 ✭✭✭✭✭

    The man behind the counter at my local convenience store complains tells me customers complain to him about not winning when they buy the more expensive scratch off tickets. He's become bitter about it. He used to give free slush puppies away every once in a while, but he put a stop to that altogether.

    Hello, I'm a Joe Louis card addict.

  • doubledragondoubledragon Posts: 3,616 ✭✭✭✭✭

    No, get that $200 million out of my face. I only want a million.😂😂

    Hello, I'm a Joe Louis card addict.

  • When I was 18 and was entering minor league baseball they taught us an economics course among others. The gist was you could spend $20 a week on the lottery with the odds a 1 in 70 million to become a millionaire or put $20 a week in a 401k. With compound interest you would be assured to be a millionaire at 65. I never purchased a lottery ticket, didn’t make it in baseball but I heeded his advice and I will be 65 next year.
    Did your plan hit the 1 Million mark or what?

    Very doable.... I mean you're talking 47 years here. You would have to have a guaranteed 10+% rate of return with no ups or downs in the market. After 30 years you would be under 200K, 40 years just over 500K and then the 10% really kicks in.

    People don't buy lottery tickets because its a waste of money and make the comments already conceding to losing.

  • keetskeets Posts: 22,253 ✭✭✭✭✭

    even more weird are the people who bitch about the taxes they'd have to pay on a Lottery win. just so we understand --- You spend $5 and win $400 million and you'll bitch because you need to pay $150 million in taxes??I understand why some animals eat their young!! :p

    --- George Carlin RIP, he'd have a lot of fresh material if he was alive today!!
  • BrickBrick Posts: 4,036 ✭✭✭✭

    I have not purchased a lottery ticket in years however I don't like how they advertise. If you win 400 million but you settle for a one time payout so after taxes you go home with 125 million they should advertise the lottery as being for 125 million.

    Collecting 1960 Topps Baseball in PSA 8
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    Ralph

  • JRR300JRR300 Posts: 734 ✭✭✭

    Hard to imagine, but you see these stories all the time where people win these large lottery jackpots and are broke in 10 years. No financial aptitude at all. Just hard to believe that you could blow through those large sums of money in that short a time.

  • DIMEMANDIMEMAN Posts: 21,661 ✭✭✭✭✭

    Ignorance...….just total ignorance. GIVE ME THE MONEY!!

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  • JRR300JRR300 Posts: 734 ✭✭✭

    Not sure which one it is...it's not the lottery....that you win $5K a week for life. I'd like that one!

  • KkathylKkathyl Posts: 3,572 ✭✭✭✭✭

    I won’t play because it’s not designed to win based on skill but by chance. I do buy the big ones because it’s just too high an amount not too. So same thrill less often same result less loss.

  • DIMEMANDIMEMAN Posts: 21,661 ✭✭✭✭✭

    @JRR300 said:
    Not sure which one it is...it's not the lottery....that you win $5K a week for life. I'd like that one!

    That is PCH - Publishers Clearing House. That would be nice.

    Canadian Dimes Set
    Washington Quarters All Varieties 32-64
    RIP image Rebecca 2004-2018...If love could have saved you - you would have lived forever
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