One lucky lotto winner...

Catalina Wine Mixer · 06-12-2012, 11:52 PM

happened to be reading this article and found it interesting. Maybe he will join the forums..

http://now.msn.com/money/0612-impound-lot-lottery.aspx

edirtaynine · 06-13-2012, 12:38 AM

"a bmw and college" LOL!

DSB335d · 06-13-2012, 01:02 AM

Lol!!! I guess if he stays at home and attends a community college he'll be able to afford a used BMW.

Eric335 · 06-13-2012, 08:20 AM

Quote:

Originally Posted by DSB335d

Lol!!! I guess if he stays at home and attends a community college he'll be able to afford a used BMW.

+1

upstatedoc · 06-13-2012, 08:36 AM

must have won $1000/ week for life?

AddictedToBavarian · 06-13-2012, 08:50 AM

It's free money, but it sucks that with that kind of money he'll still have to work. Although I'd watch every penny and never work another day in my life if that was me.

francars · 06-13-2012, 10:31 AM

Well, hope he gets good advice and invests money wisely, but at his age and this FREE money I doubt it. But good for him. I wish I won a lotto when I was 18

BMW335icoupe · 06-13-2012, 10:58 AM

He should have taken the one time payout instead of the yearly payout.

rbtamms · 06-13-2012, 11:01 AM

He should get an M3...

vapore0n · 06-13-2012, 11:25 AM

Its actually better to take the yearly payout. Especially for those people that are bad at managing money (like 18 yr old kids)

Blow out all the money in 5-10 years, or have a check in the mail once a year for life?

PINeely · 06-13-2012, 03:12 PM

Quote:

Originally Posted by BMW335icoupe

He should have taken the one time payout instead of the yearly payout.

Most people who win the lottery and take the one-time payment are poor again in 5 years and eventually hang themselves.

triger716 · 06-13-2012, 03:24 PM

Quote:

Originally Posted by vapore0n

Its actually better to take the yearly payout. Especially for those people that are bad at managing money (like 18 yr old kids)

Blow out all the money in 5-10 years, or have a check in the mail once a year for life?

This.

feaganszhp · 06-13-2012, 04:39 PM

Quote:

Originally Posted by BMW335icoupe

He should have taken the one time payout instead of the yearly payout.

+1

dreamingat30fps · 06-13-2012, 05:25 PM

Quote:

Originally Posted by PINeely

Most people who win the lottery and take the one-time payment are poor again in 5 years and eventually hang themselves.

That doesn't mean anything. It's not the fact that they take the lump sum it's the fact that most people who win the lotto are "poor" to begin with and don't have the skills or experience to properly manage that money.

mashimarho · 06-13-2012, 06:22 PM

Lucky..

adubey · 06-13-2012, 06:36 PM

Quote:

Originally Posted by BMW335icoupe

He should have taken the one time payout instead of the yearly payout.

Depends on the implied interest rate they use for the present value and what you could get by investing the money in a reasonable well diversified portfolio.

^ Way over that kids head.

PINeely · 06-13-2012, 07:25 PM

Quote:

Originally Posted by dreamingat30fps

That doesn't mean anything. It's not the fact that they take the lump sum it's the fact that most people who win the lotto are "poor" to begin with and don't have the skills or experience to properly manage that money.

I agree completely. In this case the kid is 18 and likely posesses no money management skills at all, so taking the annual payment is most likely the better option for him.

06-12-2012, 11:52 PM	#1
Catalina Wine Mixer Lieutenant Colonel 169 Rep 1,677 Posts Drives: 09 335i Coupe White/Coral Red Join Date: Apr 2012 Location: Seattle, WA iTrader: (0) Garage List 2009 335i [7.26] 2008 328i [5.50]	One lucky lotto winner... happened to be reading this article and found it interesting. Maybe he will join the forums.. http://now.msn.com/money/0612-impound-lot-lottery.aspx __________________ \| 09 335i Coupe \| Alpine White/Coral Red \| M Sport \| 6mt \| Premium \| Logic7 \| 19" Beyern Mesh \| 20% Tint \| LUX Angel Eyes \| 5000k Fogs \| Black Kidney Grill \| BMS DCI \| Cobb Stage 1 \| M-Pedal Set \| Painted Side Reflectors \| Rear Lip Spoiler \| Euro Front Plate \| Passport 9500ix \| BIM Coded \| Who is John Galt?? Last edited by Catalina Wine Mixer; 06-12-2012 at 11:59 PM..
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06-13-2012, 12:38 AM	#2
edirtaynine Major General 81 Rep 6,092 Posts Drives: e92 Join Date: Mar 2011 Location: SoCal iTrader: (0)	"a bmw and college" LOL! __________________ e90post killed plastidip Just say no to painted stock wheels jm3as hooks it up
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06-13-2012, 01:02 AM	#3
DSB335d Captain 1322 Rep 700 Posts Drives: '11 335d DSB/oyster&black/navi Join Date: Dec 2011 Location: West palm beach iTrader: (0)	Lol!!! I guess if he stays at home and attends a community college he'll be able to afford a used BMW.
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06-13-2012, 08:36 AM	#5
upstatedoc I'll get back to you 7559 Rep 2,132 Posts Drives: blue streak Join Date: Dec 2009 Location: not downstate iTrader: (2)	must have won $1000/ week for life? __________________ 2018 Stinger GT 2009 E90 N51 /Active Autowerke Stage 2 tune/BMW Performance Exhaust/ Countermeasure enthusiast.
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06-13-2012, 08:50 AM	#6
AddictedToBavarian My other ride is a Bianchi Infinito 96 Rep 2,767 Posts Drives: Miss my E92 but love my E46 M3 Join Date: Apr 2011 Location: North Jersey iTrader: (2)	It's free money, but it sucks that with that kind of money he'll still have to work. Although I'd watch every penny and never work another day in my life if that was me.
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06-13-2012, 10:31 AM	#7
francars Private 1 Rep 62 Posts Drives: 2008 E91 MT ZSP (gone) Join Date: Mar 2011 Location: Bay Area, CA iTrader: (0)	Well, hope he gets good advice and invests money wisely, but at his age and this FREE money I doubt it. But good for him. I wish I won a lotto when I was 18 __________________ 2008 E91 MT (gone)
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06-13-2012, 10:58 AM	#8
BMW335icoupe Captain 70 Rep 674 Posts Drives: 2009 BMW 335i Xdrive Coupe Join Date: Jan 2012 Location: Ohio iTrader: (2)	He should have taken the one time payout instead of the yearly payout.
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06-13-2012, 11:01 AM	#9
rbtamms Major 63 Rep 1,450 Posts Drives: 2011 E90 and 2013 F25 Join Date: May 2011 Location: San Francisco iTrader: (4) Garage List 2011 328i [0.00]	He should get an M3... __________________
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06-13-2012, 11:25 AM	#10
vapore0n Captain 40 Rep 669 Posts Drives: 2010 335i Join Date: Jul 2011 Location: MA iTrader: (0)	Its actually better to take the yearly payout. Especially for those people that are bad at managing money (like 18 yr old kids) Blow out all the money in 5-10 years, or have a check in the mail once a year for life?
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06-13-2012, 06:22 PM	#15
mashimarho BimmerPost Supporting Vendor 2106 Rep 13,876 Posts Drives: E92 M3 & F80 M3 & G82 M4 Join Date: Mar 2010 Location: Lynnwood, WA iTrader: (45) Garage List 2021 BMW G82 M4 [0.00] 2011 BMW E92 M3 [0.00] 2015 BMW F80 M3 [0.00] 2012 BMW 335i xDrive [9.78]	Lucky.. __________________ Mashimarho.com /// Instagram /// Facebook /// Youtube /// sales@mashimarho.com /// (425) 582-7939
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