When I graduated high school they had this lock in type thing for all the seniors. It lasted all night from like 7 pm to 7 am. They had all kinds of games and food and stuff for us to do there. They also were giving away prizes and and small amounts of money through out the night. Just before the thing was over they were having a drawing for the grand prize which was $2000. Every seniors name was in it(500+ students in my class)and you had to stay the whole night to win. So they do the drawing and they pull out some chicks name. Well she had already left so they had to draw again. They draw the next name and I about shit myself when they called out my name. I couldnt believe I had won $2000.
My girlfriend's dad won $250,000 a few years ago (we weren't dating at the time, but we were best friends).
Obviously, 250 grand is a shit load of money, but what I always say to people, is that it is not life-changing money. With 250 grand, he: Paid off his house, bought a new car, bought some new lawn cutting stuff (he lives on a farm), put his 3 kids through school ($5,000 a year, 4 years each, 3 people adds up), took his daughters on a bit of a shopping spree, put some in the bank, and now he's living comfortable. Basically, it just made life a little easier for him.
Anything like a million or higher would change your life.
i won small amounts on scratch off's $80 is my highest if i remember correctly.. but a few weekends ago i won $500 playing roulette at the potawatomi casino here in milwaukee. i need to win a few more hundred there and im even with them.. i have only been there 3 or 4 times.
When I was about secen years old, I remember my mom got this random postcard. The instructions were to check which item you wanted to win and if they drew your name in the contest they would send you the prize. I think there were five different prizes. There was a mountain bike, a boombox, a gameboy, and a couple other things. I told my mom to select the gameboy and send it in. Shockingly, two months later, the mailman dropped off a brand new gameboy!!
The funny thing is about a week before the gameboy was sent to me, I bought my first gameboy since I completely forgot about the contest.
Thinking about it now...I should have kept one sealed!
My girlfriend's dad won $250,000 a few years ago (we weren't dating at the time, but we were best friends).
Obviously, 250 grand is a shit load of money, but what I always say to people, is that it is not life-changing money. With 250 grand, he: Paid off his house, bought a new car, bought some new lawn cutting stuff (he lives on a farm), put his 3 kids through school ($5,000 a year, 4 years each, 3 people adds up), took his daughters on a bit of a shopping spree, put some in the bank, and now he's living comfortable. Basically, it just made life a little easier for him.
Anything like a million or higher would change your life.
$250k can be life changing money...if you don't spend it. If you're under 30 and throw $100k into an IRA then you can retire a millionaire at 60. Put the other $150k to work for you. The problem is most people don't know how to build wealth, and end up pissing through windfalls.
I once won the Sim Tower PC game from a Dairy Queen. Other than that I don't normally win anything. There's a drawing at work right now for 1 of a few GPS systems. I want to win it so I can ebay it.
$250k can be life changing money...if you don't spend it. If you're under 30 and throw $100k into an IRA then you can retire a millionaire at 60. Put the other $150k to work for you. The problem is most people don't know how to build wealth, and end up pissing through windfalls.
Quick everybody, stimulate the economy!!
I do really well with raffles, drawings, betting and gambling but it's definitely not my thing.
My girlfriend's dad won $250,000 a few years ago (we weren't dating at the time, but we were best friends).
Obviously, 250 grand is a shit load of money, but what I always say to people, is that it is not life-changing money. With 250 grand, he: Paid off his house, bought a new car, bought some new lawn cutting stuff (he lives on a farm), put his 3 kids through school ($5,000 a year, 4 years each, 3 people adds up), took his daughters on a bit of a shopping spree, put some in the bank, and now he's living comfortable. Basically, it just made life a little easier for him.
Anything like a million or higher would change your life.
I'd call that life changing. Not having to worry about a mortgage, car payment and paying for college for 3 kids is a BIG deal!
Anyway, I've won $5,000-$6,000 4 different times in Atlantic City in the last 3 years, all on Roulette. My girlfriend, before I met her, when she was 17, playing the slots illegally, hit for $15,000. They never even asked for ID, and she got to keep it. I think she hit for $10,000 a different time also.
14 years ago my dad won on "måltipset", kind of a lottery game, here in Sweden. The output was 5.850.113 SEK. Dunno what the dollar was worth back then but nowadays that would almost make a million USD.
Those money are long gone by now thou, for reasons i don't wanna get more into than that he got screwed over a couple of times , really lived life and made all his dreams come true.
My girlfriend's dad won $250,000 a few years ago (we weren't dating at the time, but we were best friends).
Obviously, 250 grand is a shit load of money, but what I always say to people, is that it is not life-changing money. With 250 grand, he: Paid off his house, bought a new car, bought some new lawn cutting stuff (he lives on a farm), put his 3 kids through school ($5,000 a year, 4 years each, 3 people adds up), took his daughters on a bit of a shopping spree, put some in the bank, and now he's living comfortable. Basically, it just made life a little easier for him.
Anything like a million or higher would change your life.
I'd call that life changing. Not having to worry about a mortgage, car payment and paying for college for 3 kids is a BIG deal!
You're right (and TFGZ too), but he still lives in the same old house, does the same old thing. Anything over a million (aside from living in CA ) and you probably wouldn't have to work that much for the rest of your life, and you'd live in a big-ass house.
And yeah, if I won $250 grand, that would change my life.
My girlfriend's dad won $250,000 a few years ago (we weren't dating at the time, but we were best friends).
Obviously, 250 grand is a shit load of money, but what I always say to people, is that it is not life-changing money. With 250 grand, he: Paid off his house, bought a new car, bought some new lawn cutting stuff (he lives on a farm), put his 3 kids through school ($5,000 a year, 4 years each, 3 people adds up), took his daughters on a bit of a shopping spree, put some in the bank, and now he's living comfortable. Basically, it just made life a little easier for him.
Anything like a million or higher would change your life.
$250k can be life changing money...if you don't spend it. If you're under 30 and throw $100k into an IRA then you can retire a millionaire at 60. Put the other $150k to work for you. The problem is most people don't know how to build wealth, and end up pissing through windfalls.
Unfortunately you can't just throw $100k into an IRA
Unfortunately you can't just throw $100k into an IRA
But the basic idea is right.
Regular IRAs sometimes cap the starting balance at around $100k (depending on the bank), Jumbo IRAs on the other hand typically have a minimum starting deposit of $100k. So, yes, you most certainly can throw $100k into an IRA.
You're thinking strictly of the investment account, which do have limits of $2k for an annual contribution, which may be up to $4-5k in 2009. But you could drop as much as you wanted into an IRA CD. Your IRA isn't limited to just that one investment, there are lots of other ways to make further investment. By investing the other $95k along with that $2-5k max will allow you to establish a closed system, the earnings on the other $95k should fully fund your annual contributions for the next 30 years, rather than paying it from salary, and you'd still wind up with the principle investment at the end, in addition to a maxed out IRA.
^^^ No the IRA account itself doesn't care what kind of investments you put it in, but the IRS DOES care how much you put into the IRA account on an annual basis.
There is a combined limit between IRA and ROTH IRA contributions, though if you won that much in a year you couldn't do the ROTH anyway, and would have made too much for the tax deduction of the regular IRA too, so the whole argument is purely academic
Just put the extra 95k in a separate investment account, in that situation.
My girlfriend's dad won $250,000 a few years ago (we weren't dating at the time, but we were best friends).
Obviously, 250 grand is a shit load of money, but what I always say to people, is that it is not life-changing money. With 250 grand, he: Paid off his house, bought a new car, bought some new lawn cutting stuff (he lives on a farm), put his 3 kids through school ($5,000 a year, 4 years each, 3 people adds up), took his daughters on a bit of a shopping spree, put some in the bank, and now he's living comfortable. Basically, it just made life a little easier for him.
Anything like a million or higher would change your life.
I'd call that life changing. Not having to worry about a mortgage, car payment and paying for college for 3 kids is a BIG deal!
Comments
--I've never won jack but I really don't play the lottery
My dad won that when I was 8 or something, but he won it with others who won it also so payout was only something like a shitty 25000, kinda sucked
Obviously, 250 grand is a shit load of money, but what I always say to people, is that it is not life-changing money. With 250 grand, he: Paid off his house, bought a new car, bought some new lawn cutting stuff (he lives on a farm), put his 3 kids through school ($5,000 a year, 4 years each, 3 people adds up), took his daughters on a bit of a shopping spree, put some in the bank, and now he's living comfortable. Basically, it just made life a little easier for him.
Anything like a million or higher would change your life.
lots of $50's, $100 a couple times, and I split a $20 ticket with a coworker and we won $200 (100 a piece)
nothing too big though
Yeah, I know. Pretty rad, huh?
The funny thing is about a week before the gameboy was sent to me, I bought my first gameboy since I completely forgot about the contest.
Thinking about it now...I should have kept one sealed!
I won $150-200 on a Monopoly scratch ticket once.
My girlfriend's dad won $250,000 a few years ago (we weren't dating at the time, but we were best friends).
Obviously, 250 grand is a shit load of money, but what I always say to people, is that it is not life-changing money. With 250 grand, he: Paid off his house, bought a new car, bought some new lawn cutting stuff (he lives on a farm), put his 3 kids through school ($5,000 a year, 4 years each, 3 people adds up), took his daughters on a bit of a shopping spree, put some in the bank, and now he's living comfortable. Basically, it just made life a little easier for him.
Anything like a million or higher would change your life.
$250k can be life changing money...if you don't spend it. If you're under 30 and throw $100k into an IRA then you can retire a millionaire at 60. Put the other $150k to work for you. The problem is most people don't know how to build wealth, and end up pissing through windfalls.
Thorny: What are you going to do with ten million dollars, and you can't say buy the Cleveland Cavaliers.
Farva: I'd buy a ten million dollar car.
Thorny: That's a good investment but I'd still pull you over.
No thanks.
Anything like a million or higher would change your life.
Not around here, thats just an above average (2000sqft) house in a good area
$250k can be life changing money...if you don't spend it. If you're under 30 and throw $100k into an IRA then you can retire a millionaire at 60. Put the other $150k to work for you. The problem is most people don't know how to build wealth, and end up pissing through windfalls.
Quick everybody, stimulate the economy!!
I do really well with raffles, drawings, betting and gambling but it's definitely not my thing.
My girlfriend's dad won $250,000 a few years ago (we weren't dating at the time, but we were best friends).
Obviously, 250 grand is a shit load of money, but what I always say to people, is that it is not life-changing money. With 250 grand, he: Paid off his house, bought a new car, bought some new lawn cutting stuff (he lives on a farm), put his 3 kids through school ($5,000 a year, 4 years each, 3 people adds up), took his daughters on a bit of a shopping spree, put some in the bank, and now he's living comfortable. Basically, it just made life a little easier for him.
Anything like a million or higher would change your life.
I'd call that life changing. Not having to worry about a mortgage, car payment and paying for college for 3 kids is a BIG deal!
Anyway, I've won $5,000-$6,000 4 different times in Atlantic City in the last 3 years, all on Roulette. My girlfriend, before I met her, when she was 17, playing the slots illegally, hit for $15,000. They never even asked for ID, and she got to keep it. I think she hit for $10,000 a different time also.
Those money are long gone by now thou, for reasons i don't wanna get more into than that he got screwed over a couple of times , really lived life and made all his dreams come true.
My girlfriend's dad won $250,000 a few years ago (we weren't dating at the time, but we were best friends).
Obviously, 250 grand is a shit load of money, but what I always say to people, is that it is not life-changing money. With 250 grand, he: Paid off his house, bought a new car, bought some new lawn cutting stuff (he lives on a farm), put his 3 kids through school ($5,000 a year, 4 years each, 3 people adds up), took his daughters on a bit of a shopping spree, put some in the bank, and now he's living comfortable. Basically, it just made life a little easier for him.
Anything like a million or higher would change your life.
I'd call that life changing. Not having to worry about a mortgage, car payment and paying for college for 3 kids is a BIG deal!
You're right (and TFGZ too), but he still lives in the same old house, does the same old thing. Anything over a million (aside from living in CA
And yeah, if I won $250 grand, that would change my life.
I won $150-200 on a Monopoly scratch ticket once.
My girlfriend's dad won $250,000 a few years ago (we weren't dating at the time, but we were best friends).
Obviously, 250 grand is a shit load of money, but what I always say to people, is that it is not life-changing money. With 250 grand, he: Paid off his house, bought a new car, bought some new lawn cutting stuff (he lives on a farm), put his 3 kids through school ($5,000 a year, 4 years each, 3 people adds up), took his daughters on a bit of a shopping spree, put some in the bank, and now he's living comfortable. Basically, it just made life a little easier for him.
Anything like a million or higher would change your life.
$250k can be life changing money...if you don't spend it. If you're under 30 and throw $100k into an IRA then you can retire a millionaire at 60. Put the other $150k to work for you. The problem is most people don't know how to build wealth, and end up pissing through windfalls.
Unfortunately you can't just throw $100k into an IRA
But the basic idea is right.
i won 26,000 on mich lotto......
Unfortunately you can't just throw $100k into an IRA
But the basic idea is right.
Regular IRAs sometimes cap the starting balance at around $100k (depending on the bank), Jumbo IRAs on the other hand typically have a minimum starting deposit of $100k. So, yes, you most certainly can throw $100k into an IRA.
IRA's have annual contribution limits that would prohibit doing what you suggested.
There is a combined limit between IRA and ROTH IRA contributions, though if you won that much in a year you couldn't do the ROTH anyway, and would have made too much for the tax deduction of the regular IRA too, so the whole argument is purely academic
Just put the extra 95k in a separate investment account, in that situation.
My girlfriend's dad won $250,000 a few years ago (we weren't dating at the time, but we were best friends).
Obviously, 250 grand is a shit load of money, but what I always say to people, is that it is not life-changing money. With 250 grand, he: Paid off his house, bought a new car, bought some new lawn cutting stuff (he lives on a farm), put his 3 kids through school ($5,000 a year, 4 years each, 3 people adds up), took his daughters on a bit of a shopping spree, put some in the bank, and now he's living comfortable. Basically, it just made life a little easier for him.
Anything like a million or higher would change your life.
I'd call that life changing. Not having to worry about a mortgage, car payment and paying for college for 3 kids is a BIG deal!
$250,000 wouldn't pay for half of my house......