[geeks] Lottery (was informal survey)

[Ken Hansen]

See below...

----- Original Message -----
From: <s at avoidant.org>
To: <geeks at sunhelp.org>
Sent: Monday, September 10, 2001 8:11 AM
Subject: Re: [geeks] Lottery (was informal survey)


> Ken Hansen wrote:
>
> > Remember, it is not how much you win, it is how much you keep...
>
> Nah, it's the fun of winning. It's just a game 'till I hit the big one.
> Doesn't even need to be that big, really. I'm numerate, but that doesn't
> mean I have to do the math for everything.

The mantra of nearly all "slot players" - the bread and butter of the Casino
industry...

> I undertand all the principles you mentioned, but all things considered,
> I'm throwing away a dollar a week on an admittedly long chance that I'll
> be able to retire early. Yes, throwing away. I know it, and freely admit
> that it's OK by me.

That's fine -no argument here, and informed choice is fine, and I was just
supplying information to help you (and others) make the decison...

> Besides, the year I won just happened to be one in which I had no
> reported income other than the lottery winnings, so no taxes! :)

Hardly an ideal situation for you, but that's nice...

> And when it's worth $70M, I'll pay the taxes without a complaint. :)

That would be $70M over 20 years, aprox. $35M in one lump sum, then subtract
40-50% taxes, and you are down to about $20M - not complaining, just
explaining. A few years ago, I decided that $11M was my stop-working
number - once I hit $11 Million "in the bank" (not over-valued tech stock
;^), I stop working and live "La Vita Woz" (live where I like, teach young
kids, etc...).

Ken


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