trimacar Posted September 25, 2013 Share Posted September 25, 2013 ....guess that would depend on how big the winnings were, but for sure if big enough there'd be a few big cars in my garage...All the above discussion is just a Segway (hey, read the "things that bother me" thread and you'll get it) into a quick discussion of something else that's troublesome.Guy wins $4 million in the lottery, and complains that amount " ain't sxxx in this economy" and he wishes he'd never won. Yeah, right, don't see him driving back to the lottery office to return the greenbacks......nor returning to the job he quit.Then he goes on to talk about all the good deeds he's doing, but he states he doesn't brag about it like some people...huh? I think you just did?OK, one last thing about lotteries, and we've all done it....bought the ticket, and when someone asks what would you do with the money, you sorta look toward the sky and say "well, the first thing I'd do is build that orphanage I've always dreamed about" or "I'd help all the poor people get better educations" or some such philanthrotopic (I know it's not a word) BS, just thinking maybe, just maybe, if you seem selfless then the higher power will let you win....Oh, and a Duesenberg. In the garage. Next to the Thomas Flyer and the Pierce 66.......Here's the story about the poor guy: http://usnews.nbcnews.com/_news/2013/09/25/20663854-the-drama-is-nonstop-powerball-winner-wild-willie-wants-his-old-life-back?lite&43001 Link to comment Share on other sites More sharing options...
Rusty_OToole Posted September 25, 2013 Share Posted September 25, 2013 He's right, $4 million ain't **** anymore. Let me prove it.If I took that money to the bank right now I could get 1.75% if I left it for 5 years. That works out to $70,000 or $1346 a week. Do you look at someone who makes $33 an hour and say "there goes someone with a multi millionaire's income"?He was probably making more than that as foreman in the Ocean County vehicle maintenance garage. Link to comment Share on other sites More sharing options...
auburnseeker Posted September 25, 2013 Share Posted September 25, 2013 Give me 4 million and I can get a better return than 1.75%. Of course I will make money as well with it but I will be sure you do a tad better than 1.75%. In the end even I will have a few nice cars in the garage as well. Link to comment Share on other sites More sharing options...
trimacar Posted September 25, 2013 Author Share Posted September 25, 2013 Yeah, my money guy is bringing me in 5% before tax, low risk, so four million would bring in $200k and even after tax that's a fair wage for doing nothing.....all he has to do is check his mailbox, and mailbox money is very nice.... Link to comment Share on other sites More sharing options...
trimacar Posted September 25, 2013 Author Share Posted September 25, 2013 And look at it the other way...let's say $4 million and you're 60 years old....even without interest, until you're 85, you get $160,000 per year....and who are you saving it for? And the interest will carry you further or fund your heirs dreams ... Link to comment Share on other sites More sharing options...
jeff_a Posted September 25, 2013 Share Posted September 25, 2013 Heartwarming story, really. Actually, good financial sense to pool all the lottery tickets like he and his associates did. In a way he's right about 4 million not being what it used to be. I bet it will paper-over a lot of things Hurricane Sandy wrecked, though.If I had a windfall like that(the lottery) I would buy only two more old cars: a really nice '28 Packard Single Six and a really nice '28 Pierce-Arrow Series 81. And do a "checkbook restoration" on the two I have. That would be fun. Link to comment Share on other sites More sharing options...
trimacar Posted September 25, 2013 Author Share Posted September 25, 2013 (edited) Yes, four million would definitely finish some of our projects, and although the journey is the experience, it sure is nice to turn the wrench on the very last bolt and think "hey, it's finished.."Jeff, yes, $4 million ain't what it used to be, but wish it was "ain't to be" in my bank account! Edited September 26, 2013 by trimacar (see edit history) Link to comment Share on other sites More sharing options...
John_Maine Posted September 26, 2013 Share Posted September 26, 2013 If I won a lot of money - like Powerball - I would find a nice, unused auto dealership building (or maybe build my own) and start collecting. I don't care about Duesenbergs or expensive cars like that, but I would collect nice, clean, low mile original cars. I'd hire someone to help me take care of them and maybe someone to do restorations. Link to comment Share on other sites More sharing options...
trimacar Posted September 26, 2013 Author Share Posted September 26, 2013 John, that's a wonderful thought....have seen numerous early dealerships or used car facilities that would be so much fun...there's one here in Winchester, the old Pine Motors, now an antique shop but has the old ramp up to second floor for cars....neat Link to comment Share on other sites More sharing options...
Aaron65 Posted September 26, 2013 Share Posted September 26, 2013 I have a list of 28 cars I'd buy. I have 4. Probably 5 are unobtainable or stupid money. I'd buy 20 odd cars, none costing more than my all-time dream car, a 1941 Continental. Link to comment Share on other sites More sharing options...
John_Maine Posted September 26, 2013 Share Posted September 26, 2013 Trim - I just noticed you're in Winchester, VA. My wife's aunt and uncle lived down the road in Mt. Jackson. We visited there many times. They have both passed now, but we always stop there to gas up on our way to and from Florida. Love the Shenandoah Valley and had thought of retiring there at one time. Link to comment Share on other sites More sharing options...
trimacar Posted September 26, 2013 Author Share Posted September 26, 2013 John, it's a beautiful piece of the country, great quality of life, miss my home state Louisiana but this is a good place to be...come visit if you're though Winchester, always enjoy old car guys coming through... Link to comment Share on other sites More sharing options...
Dandy Dave Posted September 26, 2013 Share Posted September 26, 2013 I got enough cars, trucks, bulldozers, and other old iron to keep me busy for the rest of my life so the answer is none. Put the money to work and let the interest fund getting together what I already have. Oh. And a much better shop would be in order. And someone to clean off my work bench and keep my tools orderly. It is a real mess right now. Dandy Dave! Link to comment Share on other sites More sharing options...
Pomeroy41144 Posted September 26, 2013 Share Posted September 26, 2013 (edited) Depending on the amount of the prize. I have about a dozen cars in mind. Pre-war Fords, Pre-war Buick, Mid-fifties Buicks. Edited September 26, 2013 by Pomeroy41144 (see edit history) Link to comment Share on other sites More sharing options...
Guest billybird Posted September 26, 2013 Share Posted September 26, 2013 If I won that kind of money, I'd pay it on my bills as far as it would go. Link to comment Share on other sites More sharing options...
keiser31 Posted September 26, 2013 Share Posted September 26, 2013 I got enough cars, trucks, bulldozers, and other old iron to keep me busy for the rest of my life so the answer is none. Put the money to work and let the interest fund getting together what I already have. Oh. And a much better shop would be in order. And someone to clean off my work bench and keep my tools orderly. It is a real mess right now. Dandy Dave!I can relate to this answer. I have two cars that I really love and those will suffice. A clean, organized shop is my dream. With lottery money, I could fix my shop and enjoy the two 1931 Dodges that I have been working on most of my life. Well.....o.k......a nice 1931 Chrysler CD8 roadster would do very nicely. Link to comment Share on other sites More sharing options...
caddyshack Posted September 26, 2013 Share Posted September 26, 2013 Just one. The new 2014, 650 hp, street version, turbo charged Chevy Camaro. OMG is this a gem. Buy it, open it up a few times, and put it in storage.The rest of my collection is going to be down-sized starting this fall. So this might have to replace a few of them. Link to comment Share on other sites More sharing options...
1937hd45 Posted September 27, 2013 Share Posted September 27, 2013 First thing I would do is buy the land behind my house, after paying off all my debt. Set up the best interest generating deal with the balance. There are only 4 cars I really would like to have, and it would be fun to finish the projects I've had for a lifetime. Having the ability to travel anywere in the counrty would be really nice. Bob Link to comment Share on other sites More sharing options...
Guest crosley51 Posted September 27, 2013 Share Posted September 27, 2013 If I had the money I could buy another car every day. If I look I will find somthing I would like to have. I built my new garage a couple of years ago to get some of my cars out of the barn but all I did was buy more cars to put in the garage and never moved any from the barn. I just enjoy old cars. Link to comment Share on other sites More sharing options...
Dandy Dave Posted September 27, 2013 Share Posted September 27, 2013 I can relate to this answer. I have two cars that I really love and those will suffice. A clean, organized shop is my dream. With lottery money, I could fix my shop and enjoy the two 1931 Dodges that I have been working on most of my life. Well.....o.k......a nice 1931 Chrysler CD8 roadster would do very nicely.Oh, Did I say that the tool organizer has to come in a Play Boy Bunny suit and be a bar tender to boot..... Dandy Dave! Link to comment Share on other sites More sharing options...
dei Posted September 27, 2013 Share Posted September 27, 2013 IF........Most certainly would concentrate on restoring three of my 58 Buick's but.....Would be on the lookout for a 58 Buick LIMITED convert!Oh Ya, that would cap a lottery win for me.Of course that would be AFTER I kept the home front water smooth first, otherwise it might be only HALF of that winnings! LOL Link to comment Share on other sites More sharing options...
dan at larescorp Posted September 27, 2013 Share Posted September 27, 2013 Oh, Did I say that the tool organizer has to come in a Play Boy Bunny suit and be a bar tender to boot..... Dandy Dave!Now you just have to hope its a woman that shows up for the interveiw. LolIf I won I would pay off my parents and sisters houses first. Then buy a new chunk of land, and build my dream house/garage. Put the last of it into a high return savings of sorts and collect the interest. Then restore what cars I have sitting around (which wouldn't take too much) I could do that with the less then 2 million you would get back after taxes. But then again, I feel like I've won a big prize if I find a $20 in my pocket after washing my jeans. Not to mention I wont be able to win until I buy a lottery ticket lol. Link to comment Share on other sites More sharing options...
Rusty_OToole Posted September 29, 2013 Share Posted September 29, 2013 (edited) My favorite lottery story. I was told this by an old timer who knew the people involved.In 1936 there was a charity draw with first prize being a new Chevrolet. Worth about $650. Price of tickets 25 cents. The winner was a poor widow who didn't even drive.She sold the car and bought a farm with the money. Even in the hungry 30s you didn't get much of a farm for $650 and she didn't. It was all gravel with a couple of inches of top soil on top.A few years later she got an offer from a gravel company. They wanted the property. She wouldn't sell the land but agreed to sell the gravel at so much a ton.She and her heirs got a living out of the gravel royalties for the next 50 or 60 years. Then the gravel company shut down. Under the new environmental laws they had to groom and level the site and leave it in good condition. They still own the land, now it is 40 feet lower than it used to be but they still own it.Not a bad deal for a quarter. Edited September 29, 2013 by Rusty_OToole (see edit history) Link to comment Share on other sites More sharing options...
trimacar Posted September 29, 2013 Author Share Posted September 29, 2013 Well, another lottery story. I attended an estate auction here in Virginia 10 or 12 years ago, to look at an early Mustang convertible that was being sold. Mustang went too high, but the 1965 Mercedes 230sl next to it didn't, and I bought it. Gave a deposit, and a couple of days later went to pick it up.Talking to the auctioneer, the estate was from an old gentleman who'd won a twenty million dollar lottery. He'd decided to take the yearly payouts, which is 20 years I believe, and he was only a few years into it when he died. I mentioned to the auctioneer that he sure was lucky. "Well," he said, "he may have been lucky, but the family is sure having heartache with it". What? "The estate owns the lottery winnings, which will be paid out for the next 15 years or so, but the ENTIRE AMOUNT DUE is taxable as part of his estate. So, the family is selling everything they can to pay the taxes....and it's causing fights among the survivors....some want to borrow the money, but no one will sign for the loan...and they're not sure they can sell enough to satisfy the IRS....."So, everything isn't rose colored in lottery land..... Link to comment Share on other sites More sharing options...
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