My sister in law won $1M on a scratch ticket last week. What coin would u buy??
Raufus
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My Sister in Law bought a $20 scratch ticket last week and won $1M. Take home was about $500K.
Assuming that you'd put some of this towards a numismatic item, what would it be?
I'd buy a Continental Dollar and save most of the rest.
Assuming that you'd put some of this towards a numismatic item, what would it be?
I'd buy a Continental Dollar and save most of the rest.
Land of the Free because of the Brave!
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Comments
Good question though.
jom
500k, dang, 50% right off the top. Bet she's getting calls from every Tom, Dick and Harry.
http://www.coinshop.com
<< <i> Avoid the stock market like the plague. >>
Amen.
<< <i>My Sister in Law bought a $20 scratch ticket last week and won $1M. Take home was about $500K.
500k, dang, 50% right off the top. Bet she's getting calls from every Tom, Dick and Harry. >>
But I have the written documentation we're related!
<< <i>I'd probably pay off my mortgage first....then....I dunno. Maybe some "key" date....
Good question though.
jom >>
Paying off your mortgage is probably a bad investment. You could put it somewhere making at least 8%. Why give it all to the bank.
<< <i>
<< <i>My Sister in Law bought a $20 scratch ticket last week and won $1M. Take home was about $500K.
500k, dang, 50% right off the top. Bet she's getting calls from every Tom, Dick and Harry. >>
But I have the written documentation we're related! >>
LOL!!
<< <i>
<< <i>I'd probably pay off my mortgage first....then....I dunno. Maybe some "key" date....
Good question though.
jom >>
Paying off your mortgage is probably a bad investment. You could put it somewhere making at least 8%. Why give it all to the bank. >>
Please tell me where you can get 8% :-)
Cause it would make more funds available in the long run
<< <i>
<< <i>
<< <i>I'd probably pay off my mortgage first....then....I dunno. Maybe some "key" date....
Good question though.
jom >>
Paying off your mortgage is probably a bad investment. You could put it somewhere making at least 8%. Why give it all to the bank. >>
Please tell me where you can get 8% :-) >>
My mReit pays a 16% dividend. It pays monthly. ARR.
``https://ebay.us/m/KxolR5
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Swiss bank account would be in the near future
Menomonee Falls Wisconsin USA
http://www.pcgs.com/SetRegistr...dset.aspx?s=68269&ac=1">Musky 1861 Mint Set
If there are kids, might be some good tax breaks (and tuition discounts over time) with pre-paid college funds. I would also share with closest family, including my brother-in-law.
Oh, the coin purchase - This one!
"A car is a tool that takes you from one place to another. Everything beyond that is a payment for other people's perception of you."
<< <i>I'd probably pay off my mortgage first....then....I dunno. Maybe some "key" date....
Good question though.
jom >>
I'm with you!
The name is LEE!
edit for fail link
Zomg..
Coin collecting for me is about the hunt, not necessarily about having something. Getting rid of that much debt would free up a ton if money month-to-month. That would work out to more opportunity to chase nice coins............ FOR THE REST OF MY LIFE!
<< <i>Please explain how paying off your mortgage is bad?
Cause it would make more funds available in the long run >>
Wouldn't you rather have the cash on hand? Lottery winnings are crazy money, so if there's a psychological benefit, go ahead and pay off the mortgage. But for most people, it doesn't make sense. Say you used all your savings to pay off the mortgage, then you lost your job. Where would you come up with the money for other expenses, including property taxes? If you kept the cash, you would be able to remain in the house because you would still be able to make the monthly payment. It's better to spread out payments on a house and keep the cash.
If I won $500,000, I'd spend $10,000 on coins, or a coin; then invest the rest.
<< <i>I wonder what the government spent it's half on. >>
About 1000 hammers for the military @ $500 each.
Congrat's to your sister BTW.
Since I don't have any real debt (I still owe about 35.k on my mortage, but other than that, nothing), I would probably allow myself a coin shopping spree to the tune of maybe 10% of that. Work on a finding a few well-matched Choice AU early 19th Century type pieces. Maybe pick up a $10. Carson City Lib' in Unc.
After that, 5 to 10% to (or for) each of the kids, probably a kicker for my nephew, and a piece of property or two. Just build up for that day when "the man" and I truely part ways.
“We are only their care-takers,” he posed, “if we take good care of them, then centuries from now they may still be here … ”
Todd - BHNC #242
<< <i>
<< <i>Please explain how paying off your mortgage is bad?
Cause it would make more funds available in the long run >>
Wouldn't you rather have the cash on hand? Lottery winnings are crazy money, so if there's a psychological benefit, go ahead and pay off the mortgage. But for most people, it doesn't make sense. Say you used all your savings to pay off the mortgage, then you lost your job. Where would you come up with the money for other expenses, including property taxes? If you kept the cash, you would be able to remain in the house because you would still be able to make the monthly payment. It's better to spread out payments on a house and keep the cash.
If I won $500,000, I'd spend $10,000 on coins, or a coin; then invest the rest. >>
There is something to be said for a paid off home.
Then again if you need money, a house isn't very liquid.
60 years into this hobby and I'm still working on my Lincoln set!
Lafayette Grading Set
I am assuming that the $500k was a lump sum payment, in lieu of a payment schedule for the $1M. If so, after taxes, we are looking at $300-325k. Winning the $1M lottery ain't all that it is cracked up to be!
<< <i>If there were debts I would pay some of them off first. Set some accounts up for the kids colleges. I would not take the 500k in a lump sum unless it was set up that way. It's too easy to spend it all and not have anything to show in a couple of years. An amount each year for the rest of your life sure sound better. >>
Very good chance the money now will be worth a lot more than it will be 5-10 years down the road. Would you be better off with $1000 ten years ago or waiting until now to receive it? Projected future value of money (or debt) should always be a consideration in financial decisions.
Monthly payments on lottery winnings only make sense for those not capable of properly managing their money.
"A car is a tool that takes you from one place to another. Everything beyond that is a payment for other people's perception of you."
She could always buy more lottery tickets...
Congrats to you SIL! That is a nice chunk of change.
1) pay off all consumer debt excluding my mortgage
2) put 60% of the winnings in 2 different bank accounts
3) buy a 21' center console Sea Hunt
4) buy a condo at Half Moon marina on the Ga. coast
5) rent a big cabin in the north Ga. mountians and spend a month with my family
6) start buying matched mid-grade/look Bust and Seated Liberty Quarters and Halfs
7) go back to work after the vacation
Too many positive BST transactions with too many members to list.
Empty Nest Collection
Short of saying "I have the biggest gun collection in the lower 48", or "my house is alarmed/protected to the hilt", what measures could & would you take to guard against that?
I've often wondered that as Powerball totals climbed, even though it's not likely I'll ever see such a win in MY lifetime!
- - Dave
<< <i>1) pay off all consumer debt excluding my mortgage
2) put 60% of the winnings in 2 different bank accounts
3) buy a 21' center console Sea Hunt
4) buy a condo at Half Moon marina on the Ga. coast
5) rent a big cabin in the north Ga. mountians and spend a month with my family
6) start buying matched mid-grade/look Bust and Seated Liberty Quarters and Halfs
7) go back to work after the vacation >>
The OP addresses just the coin buying part. We all have different philosophies and ideas for dealing with the "side effects" of a large cash windfall. Considering the FDIC limits per account, where would one put a lump sum of say $45 million? How many would have the stones to withdraw $100K in cash?
Not sure what I'd buy... But DC cannot take what they cannot find...
<< <i>Yes, a few years ago a guy won a huge lottery and crooks followed him around. He was known to take $100-300k of cash with him to strip clubs, etc. In short order, his family was destroyed by that win and he wished it never happened.
Not sure what I'd buy... But DC cannot take what they cannot find... >>
That was the old guy in Ohio who won $350 mil which was a record. Seems like he made a lot of bad decisions.
the portion going into rare coins would be dated 1793-1797 and most would have small eagles on them.
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