My work colleague, an engineer down the hall from me, won $7.2 million in the Oregon lottery today.

Astonishing.  Unbelievable.   

Couldn't have happened to a nicer guy, though. ('cept maybe me lol).

7.2 gross, figure about about ~3.5 after taxes, etc.  Still a nice tidy sum no matter how you slice it.

I never buy the damn tickets, maybe I should start!

Wow see, that would have given me the money to get the extended warranty on my Lemon Monster AND enough to get a reliable japanese bike to boot for when MC has my bike down at the shop!  Lol

Holy crap... being out of work, I could use a little sum like that.  Wipe out the student loans so I have no more financial obligation to anything, skip town and be a beach bum in the Caribbean for a year, come back to work, use what's leftover to buy a commercial property for reasonably stable supplemental income.

Or better yet, invest in some kind of income-producing property in paradise so I can just live there indefinitely.

Congrats to your coworker, John!

Make sure he quits his dayjob. Everyone always says "Eh, I'll probably keep working." Screw that.

I dunno if that's enough cash to invest most and live comfortably on the interest, but you could sure buy a lot of cheap stock or start into real estate while the rest of the country is out of cash.

VERY exciting!  Congrats to him!

Quote from: Bendy on April 09, 2009, 06:46:11 AM
Make sure he quits his dayjob. Everyone always says "Eh, I'll probably keep working." Screw that.

I dunno if that's enough cash to invest most and live comfortably on the interest, but you could sure buy a lot of cheap stock or start into real estate while the rest of the country is out of cash.

I wouldn't think so

a couple of drunken nights with poor decision making ability would eat 3.5 mil pretty quick

If he lives another 40 years, that is only 87,500.00 a year

you could make the beast with two backs that up pretty easy without any incoming to help compensate

Plus, it would be alot less stressful to know that your job is not your sole source of income.

"You want me to work this weekend?  I don't think so."

Eh, I have a margin of complacency because I'm not a financial dumbass. I do agree that a good percentage of people could screw it up, however.

Hahaha... monday-morning quarterbacking a lottery win.  Pointless, but still amusing.

While some uber-tightwad like myself could manage $87k/yr, I'd feel safer putting most or all of it into some kind of stable, long-term income production, and use that as a secondary income while I find some sort of job that's fun.  The great part is... one could do something fun, even if it didn't pay well.  Like... work in a motorcycle shop.  Arun was telling me the money sucks, but it's fun if you're into bikes (I was asking about working in their shop).  My opinion is, as long as the finances are enough to cover my obligations with some semblance of security, after that I'd rather "work" (i.e. do something productive) for fun than money.

3.5 mil would be too low for me to comfortably say "screw this, I'm not doing anything."  At 100 mil, now we're talking.    Then I'd love to become a self-funded missionary or something.  I'd still want to be a productive member of society, doing good, it'd just be nice if I could do that without having to worry about how I'm going to pay next month's bills.

Anyway... it's great to dream, but I must get back to maintaining vehicles and finding a job. 

You can still get CDs that give 2% APY, yanno.

2% of 3.5 mil is $70k/ year.

I could live on that.  Forever. 

Knew a guy who retired from his regular job to open a BBQ restaurant with his family.  Thought it would be fun.  After a year or two and on the brink of divorce he realized it was a total mistake, got out, got another job, and went back to work for a while before really retiring.  It always amuses me when people think what other people slave at to make a living would be a nice hobby business.  Don't get me wrong, if you want to do it, do it, but if you're not going to run it like a real business you'll probably lose money, your sanity, or both.  Work is work.  If you like it it's just as hard but it's more fun and more rewarding so you don't mind doing it.

That said, I could live on that kinda money but I'd want a job to keep me busy or I'd spend all that money on motos and surfing.  Prolly go back to school and then do something I like more than what I do now.  I can't work for myself, my boss would be such a jerk.

Scott

I couldn't care less about $7.2M I have a fully assembled and running Monster with brakes!  [moto]   

Quote from: toolfan on April 09, 2009, 03:36:58 PM
You can still get CDs that give 2% APY, yanno.

2% of 3.5 mil is $70k/ year.

I could live on that.  Forever. 

numbers and stuff

more numbers

Quote from: toolfan on April 09, 2009, 03:36:58 PM
You can still get CDs that give 2% APY, yanno.

2% of 3.5 mil is $70k/ year.

I could live on that.  Forever. 

And, its gone. (south park 1303)