Powerball 1.9 Billion Tomorrow

[AvidIndoorsman]

Correct. What are your odds to roll one die with six sides and roll the 6 to win on your first roll? 1:6.

What if you can roll the die twice and need to get a six on either roll or both to win? 2:6 which is 1:3. Not 1:6 nor 1:5 nor 1:4.

Now, with the lottery there are more than 6 outcomes on one drawing. Whether 1 ticket is bought or 1000 are bought the expected outcome is basically still much less than you spent on the tickets. But, your odds to win the jackpot are 100% better when you buy a ticket.

I agree the math says to not pay the lottery. On the other hand, escapism for the time between ticket purchase to finding out if you have the winning ticket does provide entertainment value. My spouse asked me what would i do different if won a huge jackpot. My answer, sign the back of the ticket, cash in and then disappear if my state does not allow anonymous claiming of the jackpot.

We owe no one anything, are set for retirement, have some future inheritance coming and will never fear whether have a roof over our head and food in the refrigerator. I watched several friends self-destruct over the years. Some started out poor while others started out in very wealthy families. The odds for a spectacular failure in life was much higher from the pool of friends that were from wealthy families.

How to not screw up my family and the next generation or two? The median American household makes $78,000. Half of the households make more and half make less than $78,000. That includes a household that is one person and includes those with three generation under one roof. How do you get a 17 year-old excited about school when a trust is ticking in the near future that will hand over a lump of $1 million or hand over $100,000 a year for life?

My answer. You get the following deal. $25,000 a year in income from the trust when graduate from college or valid training program or join the military and from that point on you can also get $1 from the trust for every $1 you earn up to $250,000 a year for the next 10 years. Then nothing more. I want to promote investing in oneself rather than devaluing the pride one gets from working to make money.

People do this crap all the time, setting up trusts with incredibly condescending rules.

Between growing up outside of a ski town and going to a fancy east coast school my personal experience is those trust rules do jack shit beyond screwing up parent child relationships.

Some folks are driven some aren’t, some take that trust money and do amazing things at young ages, others get it at 45 and it’s gone by 50, and they are looking for handouts.

YMMV

 

[noharleyyet]

People do this crap all the time, setting up trusts with incredibly condescending rules.

Between growing up outside of a ski town and going to a fancy east coast school my personal experience is those trust rules do jack shit beyond screwing up parent child relationships.

Some folks are driven some aren’t, some take that trust money and do amazing things at young ages, others get it at 45 and it’s gone by 50, and they are looking for handouts.

YMMV

 

[Stocker]

People do this crap all the time, setting up trusts with incredibly condescending rules.

Between growing up outside of a ski town and going to a fancy east coast school my personal experience is those trust rules do jack shit beyond screwing up parent child relationships.

Some folks are driven some aren’t, some take that trust money and do amazing things at young ages, others get it at 45 and it’s gone by 50, and they are looking for handouts.

YMMV

Teaching your kid that money isn’t everything is better than trying to dole it out so they think it’s just there. That just teaches them they need you for money, and that’s it.


I’ve got a pretty good taste of all worlds amongst my family and I’ll keep those opinions to myself or for another thread.
I’ve seen “wealth” turn normal people into lower than animal beings.


Call me a loser but if my kids don’t know that money is for basic needs and improving other people’s lives then I failed as a parent. Show me someone happier they are on their yacht than I am when I hear a bugling bull then I’ll believe.

 

[Nick87]

I’ve seen “wealth” turn normal people into lower than animal beings.

Truer words...

 

[hank4elk]

My dad was a gambler, bless his heart.
Saw him win $60k on a $2 bet at the track and then go and put it all down and lose it in 15 minutes.

 

[steveshuntn1]

I’m already looking at ranches in Colorado, New Mexico and Wyoming! I figure 10,000 and up should do it! I can’t wait to see all the threads on my land owner tags!

 

[Oak]

I’m already looking at ranches in Colorado, New Mexico and Wyoming! I figure 10,000 and up should do it! I can’t wait to see all the threads on my land owner tags!

Sounds like you're going to need a Colorado ranch manager.

 

[steveshuntn1]

Sounds like you're going to need a Colorado ranch manager.

Yep…don’t know jack about running a ranch!

 

[Scott85]

The drawing for the record $1.9 billion Powerball jackpot has been delayed over security protocols

The California Lottery announced late Monday night that it's delaying the Powerball drawing because officials need more time to complete security protocols.

amp.cnn.com

 

[Mallardsx2]

This is the last ticket I will ever buy. I think the govt is in on this.

 

[Nick87]

Talking with my boss this morning about Donati k g some of it for example to st. Judes he brought up how much the ceo of st. Judes makes...I mean I guess your not going to get anyone qualified to do it for cheap?

 

[Mallardsx2]

Shriners Hospital fan here as they are the only reason I am walking today.

Regardless of whether I win the lottery or not, I will leave them a large chunk of cash when I leave this earth.

 

[rogerthat]

The reason what I said makes you mad is because it's true. Funny how that works.


Government employees are hilarious.

Just cause you said it doesn’t make it true Donnie! Some people aren’t able to discern facts from opinion. You are obviously one of them. You lucked out. I forgot to buy a ticket for last nights drawing.

 

[Dave N]

Oh yeah! 4 bucks!

 

[Stocker]

I can’t believe I didn’t win. I was more sure of winning this than ever drawing a Gila tag. I better call and cancel my yacht, gulfstream, and Bentley orders I made yesterday.


My life is hell.

 

[steveshuntn1]

Sounds like you're going to need a Colorado ranch manager.

Sorry oak….gonna have to keep those jobs! I am for sure.

 

[Ben Lamb]

Talking with my boss this morning about Donati k g some of it for example to st. Judes he brought up how much the ceo of st. Judes makes...I mean I guess your not going to get anyone qualified to do it for cheap?

Charity Navigator - Rating for St. Jude Children's Research Hospital, Inc.

St. Jude Children's Research Hospital, Inc. has earned a 4/4 Star rating on Charity Navigator. This Charitable Organization is headquartered in Memphis, TN.

www.charitynavigator.org

St Judes gets some of the highest ratings for charities. The CEO compensation is below industry average for many non-profits of their size.

 

[MarvB]

Charity Navigator - Rating for St. Jude Children's Research Hospital, Inc.

St. Jude Children's Research Hospital, Inc. has earned a 4/4 Star rating on Charity Navigator. This Charitable Organization is headquartered in Memphis, TN.

www.charitynavigator.org

St Judes gets some of the highest ratings for charities. The CEO compensation is below industry average for many non-profits of their size.

I have NO problem with the Pres. of St. Judes making $2.2M a year when Russel Wilson is averaging $10M a touchdown...just sayin!

 

[AvidIndoorsman]

Talking with my boss this morning about Donati k g some of it for example to st. Judes he brought up how much the ceo of st. Judes makes...I mean I guess your not going to get anyone qualified to do it for cheap?

I have a ton of respect for pediatricians and pediatricians subspecialists, they make by far the least amount of money as a group of any MDs. In fact contrary for how it works for adult MDs peds specialists often make less than generalists. So that ICU MD at St. Judes might be making less than your GP, even though they work more hours, and had 2x as long a training program.

A Ped. Pulmonologist might make 250k, 4 years med school, 3 years peds residency, and then a 3 year pulm fellowship

A adult Dermatologist might make $475k a year, 4 years med school 3 year residency.

Nurses, PAs, etc as well.

It can also just be a really emotionally tough job, lots of child abuse cases come through those doors.

IMHO you could do waaaaay worse than St. Judes, and likely not a ton better.

 

[TOGIE]

I have a ton of respect for pediatricians and pediatricians subspecialists, they make by far the least amount of money as a group of any MDs. In fact contrary for how it works for adult MDs peds specialists often make less than generalists. So that ICU MD at St. Judes might be making less than your GP, even though they work more hours, and had 2 as long a training program.

A Ped. Pulmonologist might make 250k, 4 years med school, 3 years peds residency, and then a 3 year pulm fellowship

A adult Dermatologist might make $475k a year, 4 years med school 3 year residency.

Nurses, PAs, etc as well.

It can also just be a really emotionally tough job, lots of child abuse cases come through those doors.

IMHO you could do waaaaay worse than St. Judes, and likely not a ton better.

at least in our now relatively fresh foray of dealing with pediatricians. they are hands down some of the most genuinely passionate, skilled, knowledgeable MDs i've encounered in my whole life. or maybe we hit the jackpot on an pediatricians practice, but i'm guessing it's the trend.

night and day compared to the OBs. not to knock em, when things get hairy in the delivery room it becomes apparent how remarkable these OBs are. other than that they seemed like a bunch of indifferent wads disinterested in giving you their time.