Okay which one of yall is it

[caliberbob]

Me too but what would you invest it in to generate income? I'm currently using 5 year ladders of CD's and treasuries yielding about 5%.

I’d probably split it up. With some CD’s being 6% I’d likely put 50% or more in that and then the other 50% or less in a dividend paying growth stock. Reality is at my age I’d probably keep working for a few more years just for benefits like insurance.

 

[RickN]

The lottery should be eliminated. Most of the people who buy lottery tickets can't afford to pay for food and clothing already but still they throw money away on this ridiculous scam.

True but like myself most only buy a ticket when they have a few bucks extra. I do know a bunch of well off folks that play too and I bet one of them wins more often than someone who could really use the money.

 

[SoonerP226]

Me too but what would you invest it in to generate income? I'm currently using 5 year ladders of CD's and treasuries yielding about 5%.

The S&P has averaged over 10% annual growth since the 1950s. On a million bucks invested, that'd give you a return of roughly $100K per year without even touching the mil itself.

I'd say that an extra $100K per year would be life changing for most people.

 

[Kid Glock]

I don't recall by who, but an on old saying went something like this...
"Spend half a fortune on whiskey and women and the rest I'd just blow."

 

[mahatma]

Need to adjust your balance between stocks and bonds depending on your age.

 

[turkeyrun]

In my experience, the people with the most luck at gambling are almost always terrible at money management.

And then people who can manage money responsibly rarely hit it big.

Life can be ironic.

Not really ironic, IMHO.

The difference is, the money means nothing to the gambler and everything to the manager.


There is show on TV about a realtor helping lottery winners find their dream home. We stumbled across and were interested because the "winner" wanted a lake home on Possum Kingdom. We wanted to see what was available and prices.

She (54 yo, married, with 4 grown kids, her Mother would be moving with them) had cleared just under $3M. The first house he shows her was $2.6M. She is excited that she can buy this house. Her Mother pointed out the YEARLY taxes, insurance and upkeep. (This is why most end up, broke, wild spending, I believe)

She ended up buying a 4br house, in a subdivision a mile from the lake for $320k and the 3br next door for $240k, for Mom. Much more practical and sustainable, IF the remainder is invested and not spent wildly.

Chances of winning? Slim and none. Slimmer in that I rarely buy a ticket, but I do have a plan, if it happens. I'm a tightwad, the $$$$ matters.

 

[SoonerP226]

I don't recall by who, but an on old saying went something like this...
"Spend half a fortune on whiskey and women and the rest I'd just blow."

I don't know if they originated it, but that's close to a lyric from Asleep at the Wheel's Gone But Not Forgotten:

As a younger man I moved up to Alaska
To bring that oil down from Prudhoe Bay
Made so much money I could've bought Nebraska
Spent half of it on whiskey
The other half on women
The other half, well I just threw away

 

[Two Gun Warrior]

Me I am going to spend it all, on land. Some where that them Texans want to go and vacation and invest in. Hochatown.

 

[HillsideDesolate]

The lottery is simply a CIA plot to catch time travelers.