Lottery winner rejects 1 million lump sums for 1k weekly payment, right move?

[Braman]

well get on nikkas for being super consumerist make a Investing thread.

If you´re into investing it works because the majority of people are stupid with money. My ex is thinking of getting a loan to fix a house that I advised her not to buy while working a temporary job.

This is Colombia where a Bank is offering a 14% APR on a CD so I can just imagine what the loan rate will be if they give her the loan.

Yea a lot of this is with the benefit of age and wisdom so I will say that. But with age and wisdom, imo, conservative investing beats the ‘hustle’ every time. Not just monetarily, with peace of mind and quality of life.

We buy property to essentially turn a little to a lot. As we should. But it comes with risk and or effort. And if you have 1k a week that’s still relatively ‘little’ so it will still have you on that hurstle side of things.

With 1m up front you could literally park 250k somewhere and do nothing else. You could afford to buy better/safer property if you even chose that route which again you won’t “need”. But it takes age and wisdom to realize that. People still view the lump sum as the dangerous option and 1k weekly as “safe”. Imo, it’s the opposite

 

[UpNext]

Yeah definitely take the spread out money, secure your floor and protect yourself from yourself. Especially at 20.

 

[Wiseborn]

Yea a lot of this is with the benefit of age and wisdom so I will say that. But with age and wisdom, imo, conservative investing beats the ‘hustle’ every time. Not just monetarily, with peace of mind and quality of life.

We buy property to essentially turn a little to a lot. As we should. But it comes with risk and or effort. And if you have 1k a week that’s still relatively ‘little’ so it will still have you on that hurstle side of things.

With 1m up front you could literally park 250k somewhere and do nothing else. You could afford to buy better/safer property if you even chose that route which again you won’t “need”. But it takes age and wisdom to realize that. People still view the lump sum as the dangerous option and 1k weekly as “safe”. Imo, it’s the opposite

well lets keep it a buck most people ain´t getting 1 million or 250K or even 25K lump sum so the average savage would do well to dollar cost average. One of the things is people think that because they ain´t ballers they shouldn´t invest. I don´t want people to look up what I make but anyone can easily find out.

With a bonus I could touch 100K in DC and I remember when I started working I thought if I could make a GS-7 Salary which was 42K at the time I´d be set like I said I made about 100K started investing late no home so I was spinning my wheels where I made a relatively high salary but my costs where too much. Maybe I should´ve bought a house despite being in the Private sector but I didn´t because it wouldn´t have been prudent.

I ended up moving overseas and will save a fortune because the money I do make goes a very long way here. I send money back home to help out relatives in the states.

If I won the lottery I wouldn´t want anyone to know because I got too many broke ass relatives.


I post information even though I´m kinda uncomfortable to do telling brehs to invest at least 10% of their income and do it in safe investments like EFT´s CD & T bill ladders.

You give an uniformed person a 1million and even if they invested all of it they´ll probably give it to a fund manager at their bank who will fee them to death and put it in high fee indexes and take some of the money that could´ve been put into a low fee robo or just throw it all into VTSAX or VOO.

 

[Wiseborn]

Yeah definitely take the spread out money, secure your floor and protect yourself from yourself. Especially at 20.

we don´t know this ladies situation. She could be downing in debt or have broke ass relatives

She will meet a leach ass boyfriend so if she was the kind of person to consider the lottery as an investment she´s likely to fukk off the money so wolves looking to activate who would definitely target her with a milly would fall back if she only got 4k a month to her Name.

As a ¨famous¨ person she would need security so if she bought a house in a gated community that´s the milly gone right there, She makes 4k she can live in a garden style apartment invest the bread slowly and in maybe ten years if she invested all the bread could get that same gated McMansion and have money in the bank for the Property taxes.

 

[Wargames]

By the time she's 60 she would have earned over $2million worth of weekly pays.

She can live comfortably and work whenever she wants with no pressure.

Old age will also be comfortable. Retirement will also be made easy. Smart

Unless inflation happens. For example $1000 today spending power due to inflation was around $275 in 1980. In 2060 what we think of as a $1000 in spending power might be closer to $4000 or $5000 a week in earned income. It’s the same math that in a lot of ways makes pensions of elderly people such a crap suit.

She could have took the million and spent it on something like a house. Her best option would be to invest her winning.

 

[Wiseborn]

Upfront

Lets say you had a million in entebbe but nothing else. You´d be in the money and you could easily bribe your way into citizenship if there isn´t an investment visa which there probably is.

But seriously you got a fly house near the lake now, with a milly you could go crazy but why? I mean you could get a Benz but you know a fly Land Cruiser is the best option for the roads and drunk Drivers,
If you´d have to worry about the man dem in Lawerence Heights with a milly cash just imagine what would happen in Uganda if nikkas knew you had a milly.

nikkas overcharge in Africa as soon as they hear your accent they know you got a milly they´re gonna really overcharge.

Having a milly would probably just get you going to Dubal to shop all your wifes relatives asking for money and you importing Coco Krispies or Maple Syrup because all of a sudden you just can´t live without it.

Most sexpat youtubers act like the place they live is the best place on earth until they move to another place. Living in Africa first really helped me to become a better expat. I saw Hungry Jack Pancake mix for 12 dollars a box in TZ and told my girl how to make it.

They didn´t have it in Kenya my girl who was Kenyan started liking Pancakes too so we found that the blue label self rising flour is essentially Pancake batter, I got a whole bag for maybe 50 cents a pound. Amazon prime takes about two weeks to get to Nai so you looked for a local eqivalent instead buying everything on Amazon. I broke my expresso maker because I needed a part that I could find so I learned to try to buy something assembled or as a deport in Nairobi instead. In Africa you learn to adapt and overcome.

 

[JetFueledThoughts]

Assuming all things equal w/ no taxes, you should take the million up front.

You can grow the lump sum more efficiently than waiting for $1,000 each week

 

[Da Jungles]

She's only 20. I know we are all olds here but how many financial responsible chicks did you know back when you were 20? That mil would be blown on stupid shyt within 3 years if she didn't take it in payments and she knows it.

She made the right choice for her.

THANK YOU!!!!

She was going to run through that bread. Of course it makes more since for us to take the lump sum with what we know.

But this 20 year old woman clearly doesn’t give a fukk about the S&P. That $1 million would’ve been gone in 3 years.