My Best Friend

I.B

Posts: 8137 - Karma: 24,354

Karma: 24,354

Posts: 8137

Crazy Fool

I would have bought sooooo many hookers

Mar 1 2011 10:17AM

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Lax_Bro40

Posts: 5166 - Karma: 18

Karma: 18

Posts: 5166

No Life

google NYS lottery and go to 10 dollar scratch off tickets, its called Set For Life

Mar 1 2011 5:08PM

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FBGM

Posts: 8184 - Karma: 2,675

Karma: 2,675

Posts: 8184

Crazy Fool

plus income taxes on it.

Mar 1 2011 5:12PM

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timmi

Posts: 12874 - Karma: 3,460

Karma: 3,460

Posts: 12874

Crazy Fool

From what I understand is they consider "life" to be something like 25 years, so they stop paying out after that. Also they will probably offer him a lump sum payout of a few million. Most people take that although it's not necessarily the best idea.

Mar 2 2011 2:58AM

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carbon.pulse

Posts: 3348 - Karma: 22

Karma: 22

Posts: 3348

Addict

This.

Taxes, time limits and the such will make the actual fiqure in your bank account a lot less than it looks on the shiny ticket.

50% lottery tax plus possible income tax on top of that for the 25 years is going to end up around $2,750,000-$2,250,000 in his account in 25 years. If he dosn't touch it.

Which whittles down to around $1830 a week.

Although if he invested it wisely in as Term Deposit with compounding interest, found a savy accountant to transfer the accrued funds to a trust and didn't make stupid decisions such as purhcasing a bar and getting inexperienced college kids to run it he could end up with upwards of $3,000,000 in 25 years which would be a great base for further investing.

Mar 2 2011 3:12AM

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timmi

Posts: 12874 - Karma: 3,460

Karma: 3,460

Posts: 12874

Crazy Fool

Seems like he might actually be better off taking the lump payout and putting it in investments, I don't know about the states but 1 million gets you about 70g return annually if you do it right. I love thinking about this stuff.

Mar 2 2011 4:10AM

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Mike-O

Posts: 14593 - Karma: 1,089

Karma: 1,089

Posts: 14593

Crazy Fool

Lottery tax, that's bullshit.

Mar 2 2011 5:09AM

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cwillygood

Posts: 6831 - Karma: 1,829

Karma: 1,829

Posts: 6831

No Life

thats sick

Mar 2 2011 6:24AM

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Alex_G

Posts: 11902 - Karma: 1,018

Karma: 1,018

Posts: 11902

Crazy Fool

daaaaaaamn dude lemme spin at your friends club in florida

Mar 2 2011 10:17AM

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Evilchris

Posts: 2090 - Karma: 43

Karma: 43

Posts: 2090

Addict

That’s sick if it’s true, but I’m calling
BULL SHIT
5,000k a week is 5 MILLION dollars a week. Lets assume he is 30(probably younger) and he lives till he is 75(probably older), that’s 45 years. 45years X 52weeks/year equals 2,340 WEEKS. 2,340weeks X $5,000,000/week equals an $11,700,000,000 payout from a scratch ticket. That’s 11.7 BILLION dollars from a scratch ticket that probably didn't cost more than 10 dollars. In conclusion,

Mar 2 2011 10:31AM

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FBGM

Posts: 8184 - Karma: 2,675

Karma: 2,675

Posts: 8184

Crazy Fool

ummmm yeah pretty sure the 5000k was a typo dude...

Mar 2 2011 10:32AM

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Skittle.

Posts: 2537 - Karma: 718

Karma: 718

Posts: 2537

Addict

read the thread.

Mar 2 2011 10:34AM

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Mike-O

Posts: 14593 - Karma: 1,089

Karma: 1,089

Posts: 14593

Crazy Fool

Hahaha, you are off your rocker and need to take some reading comprehension classes.

Mar 2 2011 10:36AM

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hurrdurr

Posts: 349 - Karma: 29

Karma: 29

Posts: 349

Loner

pics

Mar 2 2011 10:36AM

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Evilchris

Posts: 2090 - Karma: 43

Karma: 43

Posts: 2090

Addict

fuck. K is a pretty common term for 1000

According to my math thats around $11,700,000 before taxes. Which is still kind of hard to belive from a scratch ticket, but that is definately possible.

Mar 2 2011 10:36AM

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FBGM

Posts: 8184 - Karma: 2,675

Karma: 2,675

Posts: 8184

Crazy Fool

is it?

Mar 2 2011 10:37AM

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sammy_

Posts: 1597 - Karma: 467

Karma: 467

Posts: 1597

Insane

so who is this friend....i want to become friends with him so i can get a sweet ass birthday gift

and im jealous

Mar 2 2011 10:41AM

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a_pla5tic_bag

Posts: 9210 - Karma: 5,357

Karma: 5,357

Posts: 9210

Crazy Fool

nah I think thats lots of schools. all the asian kids at my school (like kids from china that just come here to go to school) all drive real;y expensive cars. See some kid with a nissan GTR, lots of AMG mercedes, BMW M's. then all the frat kids have mustangs, but nice ones like roush and shelby cobras.

Mar 2 2011 10:43AM

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