Lets say you take the lump sum payout on the lottery. You get $300 mill give or take. You invest it and it returns 5% a year. That nets you $15,000,000 a year fun money. Hmmmmm....... http://www.bassboatcentral.com/smileys/popcorn.gif
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Lets say you take the lump sum payout on the lottery. You get $300 mill give or take. You invest it and it returns 5% a year. That nets you $15,000,000 a year fun money. Hmmmmm....... http://www.bassboatcentral.com/smileys/popcorn.gif
That's almost enough to live off of..... better go buy me a ticket.
Where did you find 5%?
Having that much money is almost good enough to get a couple protesters camping in your driveway http://www.bassboatcentral.com/smileys/Laugh.gif
<table width="90%" cellspacing=0 cellpadding=0 align=center><tr><td>Quote, originally posted by Alan S »</td></tr><tr><td class="quote">Where did you find 5%?</td></tr></table>
Yeah, no kidding! http://www.bassboatcentral.com/smileys/Laugh.gif
You forgot how much the IRS and NY state are going to take before you get out the door of the lottery office.
Its capital gains tax though. So less % then you pay on your income.
that's cool, except you forgot to take the taxes out of the $15M http://www.bassboatcentral.com/smileys/mad.gif So you might not be able to make it with only $9M (after taxes), so you guys can just hand it over to me..... I'll make do. http://www.bassboatcentral.com/smileys/Laugh.gif
<table width="90%" cellspacing=0 cellpadding=0 align=center><tr><td>Quote, originally posted by Alan S »</td></tr><tr><td class="quote">Where did you find 5%?</td></tr></table>
If you aren't making 5 percent you better rethink your investment strategy.. http://www.bassboatcentral.com/smileys/wink.gif
5 percent is pretty common of a number for withdrawing your money without effecting your principal..Obviously for planning purposes only....
That is pretty much what I go by when I figure how much cash I need to supplement my income in retirement....If you have 500k saved you can withdraw 25k a year without effecting your base....In theory....
I think I could scrimp and live off from 5 percent of 300 mill...It would be tough but I would find a way... http://www.bassboatcentral.com/smileys/Laugh.gif
Anyone happen to be attacked today by both a polar bear and a grizzly bear?...if so, the odds are with you. http://www.bassboatcentral.com/smileys/smile.gif
I seen a polar bear and a grizzly in line to buy tickets! So I guess it was a waste of money for me to buy one. http://www.bassboatcentral.com/smileys/doh.gif
<table width="90%" cellspacing=0 cellpadding=0 align=center><tr><td>Quote, originally posted by BMCD »</td></tr><tr><td class="quote">Its capital gains tax though. So less % then you pay on your income.</td></tr></table>
explain how its capital gains and not ordinary income?
and 5% should be cake with that much cash..........you think hedge funds make 100's of millions of dollars earning 5% http://www.bassboatcentral.com/smileys/stirthepot.gif http://www.bassboatcentral.com/smileys/stirthepot.gif http://www.bassboatcentral.com/smileys/popcorn.gif http://www.bassboatcentral.com/smileys/popcorn.gif http://www.bassboatcentral.com/smileys/popcorn.gif
Just think, if you win you still couldnt buy the Dodgers... http://www.bassboatcentral.com/smileys/Laugh.gif
<table width="90%" cellspacing=0 cellpadding=0 align=center><tr><td>Quote, originally posted by mikepags »</td></tr><tr><td class="quote">
explain how its capital gains and not ordinary income?
and 5% should be cake with that much cash..........you think hedge funds make 100's of millions of dollars earning 5% http://www.bassboatcentral.com/smileys/stirthepot.gif http://www.bassboatcentral.com/smileys/stirthepot.gif http://www.bassboatcentral.com/smileys/popcorn.gif http://www.bassboatcentral.com/smileys/popcorn.gif http://www.bassboatcentral.com/smileys/popcorn.gif </td></tr></table>
Buying and selling stocks is filed under capital gains tax. That's why Warren Buffet can make the claim that he pays less taxes then his secretary because he is not earning an income, he makes his money off of investments whereas his secretary earns her money from income.
<table width="90%" cellspacing=0 cellpadding=0 align=center><tr><td>Quote, originally posted by Bsktball55 »</td></tr><tr><td class="quote">
Buying and selling stocks is filed under capital gains tax. That's why Warren Buffet can make the claim that he pays less taxes then his secretary because he is not earning an income, he makes his money off of investments whereas his secretary earns her money from income. </td></tr></table>
mostly false...........he pays less in taxes pro rata than his secretary.......because a higher percentage of her income goes to taxes like 30K of her 100K a year..........but buffet still pays 150,000,000 in taxes on his billion dollar gain........
and the capital gains tax is fair because Buffet already paid taxes the first time on his money http://www.bassboatcentral.com/smileys/popcorn.gif
lotto isn't not capital gains
<table width="90%" cellspacing=0 cellpadding=0 align=center><tr><td>Quote, originally posted by brnzbaklvr »</td></tr><tr><td class="quote">5 percent is pretty common of a number for withdrawing your money without effecting your principal..Obviously for planning purposes only....</td></tr></table>
The only SURE income (stocks are not guaranteed) is CD's or money market. They're barely making 1%.
<table width="90%" cellspacing=0 cellpadding=0 align=center><tr><td>Quote, originally posted by Alan S »</td></tr><tr><td class="quote">
The only SURE income (stocks are not guaranteed) is CD's or money market. They're barely making 1%.</td></tr></table>
OK...so we'll say 0.8% on $300 million...should still be $2.4 million. http://www.bassboatcentral.com/smileys/newyear1.gif http://www.bassboatcentral.com/smileys/newyear1.gif
<table width="90%" cellspacing=0 cellpadding=0 align=center><tr><td>Quote, originally posted by Snover »</td></tr><tr><td class="quote">
OK...so we'll say 0.8% on $300 million...should still be $2.4 million. http://www.bassboatcentral.com/smileys/newyear1.gif http://www.bassboatcentral.com/smileys/newyear1.gif </td></tr></table>
before taxes http://www.bassboatcentral.com/smileys/Laugh.gif which at that point is capital gains
if you just take the payout for 20years thats $67,000 a day. well that's what the news said and there always right http://www.bassboatcentral.com/smileys/roll.gif
<table width="90%" cellspacing=0 cellpadding=0 align=center><tr><td>Quote, originally posted by bob o »</td></tr><tr><td class="quote">if you just take the payout for 20years thats $67,000 a day. well that's what the news said and there always right http://www.bassboatcentral.com/smileys/roll.gif </td></tr></table>
$67,000 a day, thats close to .75 cents per second, i just waisted $ 45 bucks typing this message. http://www.bassboatcentral.com/smileys/Laugh.gif
isn't that like half of what A-rod gets per at bat http://www.bassboatcentral.com/smileys/Laugh.gif http://www.bassboatcentral.com/smileys/Laugh.gif
<table width="90%" cellspacing=0 cellpadding=0 align=center><tr><td>Quote, originally posted by mikepags »</td></tr><tr><td class="quote">
mostly false...........he pays less in taxes pro rata than his secretary.......because a higher percentage of her income goes to taxes like 30K of her 100K a year..........but buffet still pays 150,000,000 in taxes on his billion dollar gain........
and the capital gains tax is fair because Buffet already paid taxes the first time on his money http://www.bassboatcentral.com/smileys/popcorn.gif
lotto isn't not capital gains</td></tr></table>
Sorry I meant to say less percentage. The lotto is not capital gains, but they were talking about the taxes on investing the money after they win.
I have no problem with the taxes Buffet pays. He earned his money and pays his fair share or more then his fair share of taxes.
who cares how much investment gain you'll get? you just won $300 milloin!!!! if you need to invest it so you can live off the gain and not just the $300 million, you got problems....
<table width="90%" cellspacing=0 cellpadding=0 align=center><tr><td>Quote, originally posted by badbub19 »</td></tr><tr><td class="quote">who cares how much investment gain you'll get? you just won $300 milloin!!!! if you need to invest it so you can live off the gain and not just the $300 million, you got problems....</td></tr></table>
I don't know its 80M just to get your plane, that still leaves yacht, house and fleet of cars............it goes quick http://www.bassboatcentral.com/smileys/Laugh.gif http://www.bassboatcentral.com/smileys/Laugh.gif http://www.bassboatcentral.com/smileys/Laugh.gif http://www.bassboatcentral.com/smileys/Laugh.gif
http://www.dailymail.co.uk/new....html
Don't forget to add in the extra income from food stamps and public assistance that you still get to collect if you win..assuming you were collecting it before you hit it.
<table width="90%" cellspacing=0 cellpadding=0 align=center><tr><td>Quote, originally posted by mikepags »</td></tr><tr><td class="quote">
I don't know its 80M just to get your plane, that still leaves yacht, house and fleet of cars............it goes quick http://www.bassboatcentral.com/smileys/Laugh.gif http://www.bassboatcentral.com/smileys/Laugh.gif http://www.bassboatcentral.com/smileys/Laugh.gif http://www.bassboatcentral.com/smileys/Laugh.gif
http://www.dailymail.co.uk/new....html</td></tr></table>
I was wrong its not enough http://www.bassboatcentral.com/smileys/Laugh.gif http://www.bassboatcentral.com/smileys/Laugh.gif http://www.bassboatcentral.com/smileys/Laugh.gif http://www.bassboatcentral.com/smileys/Laugh.gif http://www.bassboatcentral.com/smileys/Laugh.gif http://www.bassboatcentral.com/smileys/Laugh.gif
But the $80 million spent on the 737 is pocket change compared to the whopping amount a Saudi billionaire prince forked over for his private jet.
Saudi Prince Alwaleed bin Talal bin Abdulaziz Al Saud took private jet ownership to an astonishing level in 2009 when he purchased an Airbus A380 for private use.
The Saudi prince, a cousin of the Saudi king, will have spent an estimated $500 million before the customized jet is finally handed over to him later this year.
The Worcestershire, England-based firm Design Q is in charge of customizing the superjumbo's interior.
The Airbus A360 normally seats up to 600 travelers, but Prince al-Waleed bin Talal has other plans for his jet, including
Read more: http://www.dailymail.co.uk/new...l4WoJ
<table width="90%" cellspacing=0 cellpadding=0 align=center><tr><td>Quote, originally posted by Alan S »</td></tr><tr><td class="quote">
The only SURE income (stocks are not guaranteed) is CD's or money market. They're barely making 1%.</td></tr></table>
Exactly... and on those "sure" income investments, FDIC insurance covers up to 250K per individual. 5% is a realistic number in more "risky" investments and could quickly turn into a negative...
<table width="90%" cellspacing=0 cellpadding=0 align=center><tr><td>Quote, originally posted by mikepags »</td></tr><tr><td class="quote">
before taxes http://www.bassboatcentral.com/smileys/Laugh.gif which at that point is capital gains</td></tr></table>
nope, because interest income (interest at .8%) that is earned is taxed at earned income rates, not capital gains.
you will get a 1099-int for money invested in a CD or other guaranteed interest rate.
<table width="90%" cellspacing=0 cellpadding=0 align=center><tr><td>Quote, originally posted by barchief »</td></tr><tr><td class="quote">
nope, because interest income (interest at .8%) that is earned is taxed at earned income rates, not capital gains.
you will get a 1099-int for money invested in a CD or other guaranteed interest rate.
</td></tr></table>
http://www.bassboatcentral.com/smileys/embarassed.gif http://www.bassboatcentral.com/smileys/embarassed.gif your correct there......... http://www.bassboatcentral.com/smileys/doh.gif http://www.bassboatcentral.com/smileys/doh.gif http://www.bassboatcentral.com/smileys/doh.gif I have gotten enough of those http://www.bassboatcentral.com/smileys/embarassed.gif I should have know that even after a 6 pack http://www.bassboatcentral.com/smileys/Laugh.gif but why is a 1098 poping in my head( know thats mortgage interest statements http://www.bassboatcentral.com/smileys/doh.gif )
<table width="90%" cellspacing=0 cellpadding=0 align=center><tr><td>Quote, originally posted by mikepags »</td></tr><tr><td class="quote">
http://www.bassboatcentral.com/smileys/embarassed.gif http://www.bassboatcentral.com/smileys/embarassed.gif your correct there......... http://www.bassboatcentral.com/smileys/doh.gif http://www.bassboatcentral.com/smileys/doh.gif http://www.bassboatcentral.com/smileys/doh.gif I have gotten enough of those http://www.bassboatcentral.com/smileys/embarassed.gif I should have know that even after a 6 pack http://www.bassboatcentral.com/smileys/Laugh.gif but why is a 1098 poping in my head( know thats mortgage interest statements http://www.bassboatcentral.com/smileys/doh.gif )</td></tr></table>
1098 is mortgage interest, and 1098-t is a tuition statement.
<table width="90%" cellspacing=0 cellpadding=0 align=center><tr><td>Quote, originally posted by Bronzefly »</td></tr><tr><td class="quote"> and on those "sure" income investments, FDIC insurance covers up to 250K per individual. ...</td></tr></table>
I thought it was insured up to 250k per account?