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  • #46
    Originally posted by jazzcyclist View Post
    Who else here thinks they could remain anonymous if that were allowed by the rules?
    Would a Maserati in the driveway give it away?

    I actually think I could pull it off, except for the fact that all three of my kids were suddenly enormously wealthy.

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    • #47
      Originally posted by user4 View Post
      Is it just me or is buying one of those at the convenience store one of the most embarrassing purchases ever.
      Actually, outside of an emergency purchase, lottery tickets are the least embarrassing purchase at a convenient store. The rest are tremendously overpriced crap.

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      • #48
        Originally posted by Atticus View Post
        Would a Maserati in the driveway give it away?

        I actually think I could pull it off, except for the fact that all three of my kids were suddenly enormously wealthy.
        The new homes would give it away for me. Nothing crazy but a couple or 6 vacation homes.

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        • #49
          Originally posted by user4 View Post
          I cant imagine one thing changing in my life simply due to the amount of money in a bank account.
          Nothing? Not even more track meets, including big ones, like the Olympics and World Championships?

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          • #50
            Originally posted by jazzcyclist View Post
            Nothing? Not even more track meets, including big ones, like the Olympics and World Championships?
            Some of this depends on the person's finances. If they are worth billions then a couple hundred million is nothing. For people in the 100 million to 500 million range it is added security but not life changing. For the rest this is generation-changing money. It allows you to possibly secure the life of future generations of your family. And that is life-changing whether you buy an extra stick of gum or not.

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            • #51
              Originally posted by jazzcyclist View Post
              Nothing? Not even more track meets, including big ones, like the Olympics and World Championships?
              Almost all of my time constraints have nothing to do with money. But now that you mention it, Id probably send you and Lonewolf tickets to the WC.


              Originally posted by booond View Post
              Actually, outside of an emergency purchase, lottery tickets are the least embarrassing purchase at a convenient store. The rest are tremendously overpriced crap.
              I can remember going into a convenience store to pick up a gallon of milk. Guy walks in just before me, his car was not worth a tow charge, and proceeds to spend 40$ on lottery cards and cigarettes. I was embarrassed for him. With 40$ of throw away money every day he had already won life's lottery but was now determined to lose it ... every day.


              Originally posted by booond View Post
              For the rest this is generation-changing money. It allows you to possibly secure the life of future generations of your family. And that is life-changing whether you buy an extra stick of gum or not.
              There is an old saying shirtsleeves to shirt sleeves in 3 generations. It is amazing how fast a few generations can devour their inheritance. The most important thing you can give your children and grandchildren are not stored in a vault. And many times excessive wealth robs them of the drive and determination and creativity to succeed in life.
              Last edited by user4; 01-14-2016, 09:01 PM.

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              • #52
                Originally posted by user4 View Post
                Almost all of my time constraints have nothing to do with money. But now that you mention it, Id probably send you and Lonewolf tickets to the WC.
                I'm not sure what you mean by that, but there are many ways in which money buys you time. For example, there have been several times in recent years that I've had to miss an event or family function, not because I couldn't afford the travel, but because I couldn't do the trip within the time constraints of commercial airlines, but a private jet would have solved the problem. Also, the time it takes me to get from my driveway in Baton Rouge to Eugene would be greatly reduced if I owned a private jet.

                Another way money would buy me time is by not having to do jobs for my parents from time to time to save them the hassle and expense of having to hire someone. When you acquire as many tools (eg. carpentry, mechanic, electrical, plumbing, machine, etc.) as I have over the years, people are always asking you to do stuff for them. If I had more money, the only time involved would be the time it took to find and hire a competent professional to do these jobs, and I already know some folks in these trades.

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                • #53
                  Originally posted by booond View Post
                  For the rest this is generation-changing money. It allows you to possibly secure the life of future generations of your family. And that is life-changing whether you buy an extra stick of gum or not.
                  Would you feel obligated to leave money to your family?

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                  • #54
                    Originally posted by KDFINE View Post
                    I saw a piece on the news claiming that 70% of all big lottery winners wind up broke.
                    Here are some stories of lottery winners for whom things did not work out well:

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                    • #55
                      Originally posted by jazzcyclist View Post
                      Would you feel obligated to leave money to your family?
                      Yes, but not just the whole sum. I'd apportion the interest in trust funds, but keep most of the principle in secure investments for at least 50 years. Eventually inflation would devalue that, but not before I had given several generations a good start.

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                      • #56
                        Originally posted by jazzcyclist View Post
                        Would you feel obligated to leave money to your family?
                        If I won 500 million I'd feel obligated to help large swaths of my family and to help others as well.

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                        • #57
                          Originally posted by booond View Post
                          If I won 500 million I'd feel obligated to help large swaths of my family and to help others as well.
                          But you can do a lot to help people short of giving them millions of dollars. Isn't there an old parable about giving a man a fish dinner versus showing him how to fish?

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                          • #58
                            Originally posted by jazzcyclist View Post
                            I'm not sure what you mean by that, but there are many ways in which money buys you time.

                            Another way money would buy me time is by not having to do jobs for my parents from time to time to save them the hassle and expense of having to hire someone. When you acquire as many tools (eg. carpentry, mechanic, electrical, plumbing, machine, etc.) as I have over the years, people are always asking you to do stuff for them. If I had more money, the only time involved would be the time it took to find and hire a competent professional to do these jobs, and I already know some folks in these trades.
                            I dont work for money, I work because it is what I was made to do. Finding your talents and using them to be what you were meant to and providing an example to family, friends, neighbors and beyond is the ideal life.

                            Providing a life of leisure for your children is a curse disguised as a gift. The human mind us not designed for that.

                            You actually are living a far happier life, a full and purposeful life as the example that you are. As far back as I can remember those men that could fix things were highly respected and still are. Maybe now after many years of learning so many skills well you could handle mega millions now. Leaving immense wealth to offspring is a tricky business. The shapping of a child's character, habits, work ethic are far more critical than money and 10times more essential if you do leave them significant money.

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                            • #59
                              Originally posted by user4 View Post
                              I dont work for money, I work because it is what I was made to do. Finding your talents and using them to be what you were meant to and providing an example to family, friends, neighbors and beyond is the ideal life.

                              Providing a life of leisure for your children is a curse disguised as a gift. The human mind us not designed for that.

                              You actually are living a far happier life, a full and purposeful life as the example that you are. As far back as I can remember those men that could fix things were highly respected and still are. Maybe now after many years of learning so many skills well you could handle mega millions now. Leaving immense wealth to offspring is a tricky business. The shapping of a child's character, habits, work ethic are far more critical than money and 10times more essential if you do leave them significant money.
                              I think you're confusing me with some of the other posters. I agree with you about leaving kids a bunch or money and the value of a good work ethic. However, I presume that all of us, including you, first started posting on this board because of our passion for track and field, and that you enjoy attending a good meet every now and then. Phil Knight also shares our passion for track and field, but because of his wealth, he can pursue his passion much more vigorously than we can. Do you not get my point?

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                              • #60
                                Originally posted by user4 View Post
                                Almost all of my time constraints have nothing to do with money. But now that you mention it, Id probably send you and Lonewolf tickets to the WC. .
                                I appreciate the gesture, user4, and am sure jazz and I would have a grand old time but first I would have to check Charlie Lonewolf's soccer schedule.

                                I would not drastically change my life style if I won a mega-lottery. I would keep it as anonymous as possible as long as possible. I am perfectly comfortable in my modest condominium where I can just shut the door and leave when I like for as long as I like.
                                I lived in big houses (too much of the time alone) with the pool, tennis court and four car garage. Did not need it then, sure don't need it now.
                                My three kids and three grown grandkids are already launched on successful careers. I would establish some long range family trusts and there are several other people I would give the $10K annually allowed by the IRS. I have a few selected charities I would generously bless anonymously. And, Oklahoma State would have a new dedicated track stadium worthy of their new competiton facilities...and a scholarsip program designed to attract national class track athletes.. all anonymously, of course.

                                Oh yeah. I have been driving Lincolns for 40 years but I would find and restore to better than new, a 1977 basket-handle T-bird, black with maroon interior, the best car I ever owned
                                Last edited by lonewolf; 01-15-2016, 04:45 AM.

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