Author Topic: Do you play the lottery? (Read 11657 times)

HelpMe · « **Reply #60 on:** November 26, 2012, 12:14:30 PM »

Quote from: AJK on November 26, 2012, 11:52:33 AM

Ordinary investments? Stocks, bonds, ETF's, index funds, mutual funds, etc.

Alternative investments? Hedge funds, private equity, venture capital, etc.

...and the all time favorite, GOLD!

AJK · « **Reply #61 on:** November 26, 2012, 12:21:46 PM »

Quote from: Saver2000 on November 26, 2012, 12:01:27 PM

+1

Or if you're really nuts, just put it in a safe deposit box. (Or a few boxes in different banks)

I'm sure some wealthy people keep cash in a safe deposit boxes, but no one would keep all $100 mil in a SD box. Every day that goes buy it'd lose value.

AsherO · « **Reply #62 on:** November 26, 2012, 01:07:22 PM »

Quote from: HelpMe on November 26, 2012, 12:14:30 PM

...and the all time favorite, GOLD!

If I won I'd open an account with the Federal Reserve and have them hold 1/4 of my take in gold. On second thought, do I want to trust 'em with my $$$?

HelpMe · « **Reply #63 on:** November 26, 2012, 01:43:13 PM »

Quote from: AsherO on November 26, 2012, 01:07:22 PM

If I won I'd open an account with the Federal Reserve and have them hold 1/4 of my take in gold. On second thought, do I want to trust 'em with my $$$?

No, just buy a shovel and a gps in case you forget.

churnbabychurn · « **Reply #64 on:** November 26, 2012, 01:57:30 PM »

Quote from: AJK on November 26, 2012, 11:52:33 AM

Ordinary investments? Stocks, bonds, ETF's, index funds, mutual funds, etc.

Alternative investments? Hedge funds, private equity, venture capital, etc.

yes but until you make all the decisions, you'l use your mattress or a bank account?

AJK · « **Reply #65 on:** November 26, 2012, 02:06:58 PM »

Quote from: churnbabychurn on November 26, 2012, 01:57:30 PM

yes but until you make all the decisions, you'l use your mattress or a bank account?

A bank account, even with only a $250K FDIC limit.

What are you worried about? Chase bank folding in the month(?) it takes to allocate your investments?

Or, feel free to open up 400 different bank accounts at 400 different banks.

Dan · « **Reply #66 on:** November 26, 2012, 02:08:06 PM »

Quote from: AJK on November 26, 2012, 02:06:58 PM

A bank account, even with only a $250K FDIC limit.

What are you worried about? Chase bank folding in the month(?) it takes to allocate your investments?

Or, feel free to open up 400 different bank accounts at 400 different banks.

Adding beneficiaries and/or additional account holders can bump up the FDIC into the millions on one account.

AJK · « **Reply #67 on:** November 26, 2012, 02:11:42 PM »

And adding accounts with different ownership structures can bump your insured holdings at a bank to $1.5MM plus at a single bank.

Even so, that's 66 different banks, with 8 different ownership types (which creates its own headaches and risks).

churnbabychurn · « **Reply #68 on:** November 26, 2012, 02:57:00 PM »

Thanks guys I was really worried, at least now I have a plan...

Achas Veachas · « **Reply #69 on:** November 26, 2012, 02:58:21 PM »

Quote from: churnbabychurn on November 26, 2012, 02:57:00 PM

Thanks guys I was really worried, at least now I have a plan...

And I thought I had a plan and now I'm just confused....

churnbabychurn · « **Reply #70 on:** November 26, 2012, 02:59:21 PM »

dont worry, i got this one..

Achas Veachas · « **Reply #71 on:** November 26, 2012, 03:12:23 PM »

Quote from: churnbabychurn on November 26, 2012, 02:59:21 PM

dont worry, i got this one..

Great! So if your looking for someone else to put the account under PM me

sky121 · « **Reply #72 on:** November 26, 2012, 08:56:23 PM »

From an article on the Yahoo Homepage

"To put that in perspective, a ticket holder is 25 times less likely to win the jackpot than they are to win an Academy Award."

Dan · « **Reply #73 on:** November 26, 2012, 08:58:30 PM »

Quote from: sky121 on November 26, 2012, 08:56:23 PM

From an article on the Yahoo Homepage

"To put that in perspective, a ticket holder is 25 times less likely to win the jackpot than they are to win an Academy Award."

I prefer comparisons to being struck by lightning, etc. Personally I think my chances of winning the lottery are greater than winning an Academy award.

sky121 · « **Reply #74 on:** November 26, 2012, 09:09:06 PM »

Quote from: Dan on November 26, 2012, 08:58:30 PM

I prefer comparisons to being struck by lightning, etc. Personally I think my chances of winning the lottery are greater than winning an Academy award.

Lol. I feel the same.