Powerball True Hollywood Story

[citroen]

Has anyone seen the Powerball True Hollywood Story?  Can\'t figure out how it ties into Hollywood, since most of the people are from like Nebraska or West Viriginia and either stay there or move to Florida.  After you see it, you will never want to win the Powerball.

[kindm's]

if i had $ it would def be real estate in the above choices

[SlimPickens]

While I "invest" $2/ week in powerball... I\'ve always considered any lotto as a tax on people that are bad at math.

[obsession600]

It takes more than a dollar to invest in real estate, stocks, bonds etc.
Gambling in casinos involves money to get there.

Somebody is going to win the powerball eventually. Why not me?

[skalnbyc]

It doesn\'t take too much $$ to initiate a brokerage account.  

I was actually thinking of starting an investment thread - to discuss industries, companies, and REIT localities of interest.  Now that my car payments have ended, I\'m planning on adding the amount I\'m accustomed to paying each month to a trading account.

Seriously, if most of the blue collar people would re-allocate their weekly lotto money to a basic mutual fund or IRA (even if they just park it in a life cycle fund that automatically adjusts it\'s allocation strategy overtime to reflect the advent of retirement), they wouldn\'t be nearly as screwed.

[SlimPickens]

I was actually thinking of starting an investment thread

do it.  do it.

[Drew_Kingsley]

I was actually thinking of starting an investment thread

Al Z. is going to Martha Stewart us all with insider trading advice.  See ya in the slammer.

[FrankZappa]

I saw a show like that a few years ago where it followed people who won the lotto and what they did afterwards. Most had to move just so that they could get away from everyone begging them for handouts.

My favorite was one guy who had all of his money in cds and investments. He never spent any of the actual money he had won - he only spent the earnings. So if he wanted a porche, he would figure out how long it would take him to come up with the cash, wait that many weeks or months, then go buy it. That way, he always had the money he had started with. Very smart.

[Todd]

My favorite was one guy who had all of his money in cds and investments. He never spent any of the actual money he had won - he only spent the earnings. So if he wanted a porche, he would figure out how long it would take him to come up with the cash, wait that many weeks or months, then go buy it. That way, he always had the money he had started with. Very smart.

That is the only way to do it!! If you hold off spending your initial winnings until later in life you can sustain your wealth until you die!! It\'s the fools who go crazy spending all their winnings thinking it will never end that end up declaring bankruptcy within a few years.

[obsession600]

I saw a show like that a few years ago where it followed people who won the lotto and what they did afterwards. Most had to move just so that they could get away from everyone begging them for handouts.

My favorite was one guy who had all of his money in cds and investments. He never spent any of the actual money he had won - he only spent the earnings. So if he wanted a porche, he would figure out how long it would take him to come up with the cash, wait that many weeks or months, then go buy it. That way, he always had the money he had started with. Very smart.

That is the way to go. Don\'t tell anyone except immediate family that you won. Don\'t change your life too radically until you figure out what is feasible.

btw you should always maintain your savings account, mutual fund and your Roth IRA before you allocate money for gambling.