By Jonnelle Marte
- iStockphoto
Chances are that few, if any, of those dreaming what they’d do with the $640 Mega Millions jackpot fantasize about what their financial adviser might say. That’s because these buzz kills with CFPs think lottery winners should be as boring as possible – at least, that is, when it comes to their portfolios.
After taxes, the record payout is likely to be closer to $320 million as a lump sum. However, tickets purchased in states such as Delaware and California will be worth even more due to the lack of income tax on winnings, according to USAMega.com. Regardless, the prize money should be more than enough to fund a lifetime of lavish spending. Too often, of course, lottery winners blow through the cash so quickly they end up bankrupt. That’s where the dullness comes in, advisers say. The winner might consider investing like a grandma, with a surefire and downright boring portfolio. “If they are conservative they can have an amazing life style year after year,” says Andrew Feldman, a financial planner in Chicago. “If they take too much risk they may lose too much.”
The sheer size of such a portfolio, advisers say, makes it possible to earn an outsize income with ultra-conservative investments. And lottery winners wouldn’t even have to spend a dime of their actual winnings to maintain millionaire lifestyles. Taken to the utmost extreme, investors could keep the entire stash in cash as three-month Treasury bills, where the $320 million would earn 0.07%, or $224,000. But no one needs to be quite that conservative, advisers say.
Instead, one approach could be to put half the winnings in high-grade municipal bonds, where the income earned is tax exempt, says Matthew Goff, a financial adviser in Houston. That could bring in roughly $3 million a year in income, he estimates. Another 40% of the winnings could be put in high quality corporate bonds, where it could earn about $2 million a year. And for the sake of helping the jackpot keep pace with inflation, the rest of the cash could be invested in dividend paying stocks. All told, that adds up to an annual income stream of about $7 million, that winners can live off of without having to touch the prize money, says Goff. “You could be much more conservative than say someone with a more typical portfolio,” he says. “Risk taking becomes more of a luxury than a necessity.”
Of course, the reality of winning could be much more complicated when one considers phone calls from distant relatives, student debt and life-long dreams of owning a business. Winners will probably have to dip into their principal, for instance, if they want to set up a private foundation for children with disabilities or buy their high school a new wing, says Brian Kazanchy, a wealth manager with RegentAtlantic Capital in Morristown, N.J. They might also want to buy companies rather than just invest in them. For that reason, Kazanchy recommends separating a portion of the winnings to cover large one-time expenses like charitable foundations, family trusts and a business ventures. The rest of the cash can then be invested conservatively to cover living costs, he says.
Most people buying a Mega Millions ticket today will find the odds aren’t in their favor: the chances of winning the Mega Millions jackpot on Friday are about one in 176 million, according to lottery officials. And even those who win may have to fight for their share. But that doesn’t stop people from dreaming about it. Indeed, psychologists say just the act of playing the lottery and fantasizing about what one would do with the winnings makes the jackpot feel more attainable. “The enormous amount attracts attention and people inevitably think of what it might mean to win,” says Nobel-prize winning psychologist and behavioral economist Daniel Kahneman. “That thought, in turn, makes the event more plausible.”
Also see:
Legal Advice on Mega Millions Office Pools
By WebOsPublisher
Free XP icons download
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TheW32 introduction
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TheW32 introduction
Contents
Running TheW32
The thesaurus window
Adding to your thesaurus
Adding terms
Adding a scope note for a term
Linking terms
Deleting from your thesaurus
Deleting a term
Deleting a scope note
Deleting a link
Changing elements in your thesaurus
Changing a term
Changing a scope note
Changing a link
Previewing and outputting your thesaurus
Previewing and selecting a report
Saving a display
Backing up your data
This is a brief introduction
to using the TheW32 thesaurus contruction package.
For more details,
you should consult the help file Thew32.htm
that accompanies the package.
Running TheW32
To create a new thesaurus,
select "File|New",
give your thesaurus a suitable pathname
(e.g., u:\mythew),
and click on "Save".
Avoid creating a thesaurus directly on a floppy disk drive,
since Windows seems to be unreliable
at reading random-access files from this medium.
When TheW32 creates a new thesaurus,
it initially makes it a copy of the template file
Template.the, if the template is available.
This means that a new thesaurus that you create
should already have defined the common thesaurus linktypes
SN, USE, UF,
BT, NT, and RT,
plus the report formats
ALPHA, SHORT, and TREE.
If this is not the case,
an alternative for you to create an initial thesaurus
by finding Template.the
and copying it to another *.the file,
which you can then access using TheW32,
provided the new file is not read-only.
To open an existing thesaurus,
select "File|Open",
select the *.the file you want,
and click on "Open".
To end a TheW32 session,
click on the × button of the main TheW32 window.
The Thesaurus window
When you begin TheW32,
no thesaurus is open
and most of the menu items are grayed.
Once you have opened a new or existing thesaurus,
all the menu items will be enabled
(unless the thesaurus is read-only),
and you will see portions of the thesaurus
displayed in the Thesaurus window.
At the top left is an edit control
containing the current heading term.
This control can also be used temporarily for terms to be added
or searched for.
To the right is a spin edit control
for the current linktype.
To the right of the spin edit control is an edit control
showing the mnemonic for the current linktype.
Below to the left is a grid
showing the references for the current heading term;
to the right is a list box
showing the terms in the thesaurus;
between these is a button
that you can use for making and breaking links
between the current heading term
and other terms in the thesaurus.
From the thesaurus window,
use the menu or any associated accelerator keys
to access the main thesaurus functions.
Adding to your thesaurus
Adding terms
To add terms to your thesaurus,
select "Edit|Add term(s)".
An "Add term(s) to thesaurus" dialog will appear.
Type each term that you want to add,
followed by Enter.
Press Esc when you are finished adding terms.
Adding a scope note for a term
To add a scope note for a term,
first double click on the term
in either the references grid or the terms listbox
to make it the current heading.
Set the linktype spin edit at the top to 1 (SN).
Now select "Edit|Add reference/note(s)".
Type the scope note into the bottom edit box in the dialog
and press Enter.
Press Esc to get out of the dialog.
Linking terms
To link terms,
first set the linktype spin edit to the type of link you want.
Double click on the term
from which you want to make a link;
then single click on the term
to which you want to make a link
in the terms listbox;
click on the <– ("Make link") button
between the references grid and the terms listbox.
Deleting
from your thesaurus
Deleting a term
To delete a term
together with its notes and links,
click on the term in the terms listbox
and press Delete.
Deleting a scope note
To delete a scope note,
click on the scope note in the references grid
and press Delete.
Deleting a link
To delete a link between two terms,
first double click on one of them;
then single click on the other in the references grid
and press Delete.
Changing elements in your thesaurus
Changing a term
To change a term without losing its notes and links,
first double-click on the term to make it the current heading;
next, select "Edit|Modify heading",
type the new form of the term into the edit box
in the dialog that appears,
and press Enter.
Changing a scope note
To change a scope note,
click on the scope note in the references grid
and select "Edit|Modify reference/note".
Edit the scope note in the bottom edit box
in the dialog that appears
and press Enter.
Changing a link
To change a link between two terms,
first set the linktype spin edit
to the type of link that you want;
double click on one of the terms;
then, single click on the other term
in the terms listbox
and click on the <– button
between the references grid and the terms listbox.
Previewing and outputting your thesaurus
Previewing and selecting a report
To preview a display of your thesaurus
at any time,
select "File|RTF Preview".
The TheW32 print preview window will appear.
Select the report format that you want
from the "Report" menu.
Saving a display
Select "File|Save As…".
A "Save RTF display as" dialog will appear.
Assign a suitable file name
and click on the "Save" button.
RTF files can be imported into most common word processors
for further manipulation and printing.
Backing up your data
A power failure or reboot while running TheW32
may cause the thesaurus file to become corrupted
if it was updated.
Keeping a backup of this file is therefore especially recommended.
A simple form of backup
is just use "File|Save As"
in the TheW32 thesaurus window.
You can also select "File|Export terms and links"
to create an ASCII backup
that could be used by other software.
Last updated February 6, 2008, by
Tim Craven
This is inform you that I recveied an Email from the below address mentioning that I won Online UK Natioanl Lottery and I request you to confirm whether this mail is genuine or not. I will be highly greatful to you for the service you are doing. ThanksBenny Augustian.The letter is as folows:UK National LotteryP O Box 1010Liverpool, L70 1NLUNITED KINGDOM(Customer Services)WINNING PARAMETERSRef Number: UK/9580X2/45Batch Number: 062/01/ZY469IDENTIFICATION NUMBER:{CPEL/OWN/9876}.Congratulations Lucky Winner,According to the notification that you received. The notification mail sent to you is to inform you that you emerged as our lucky winner.and this explains how you became a winner, The online cyber lotto draws was conducted from an exclusive list of 21,000 e-mail addresses of individual and corporate bodies picked by an advanced automated random computer search from the internet, no tickets were sold. After this automated computer ballot, your e-mail address emerged as one of two winners in the category \\ A\\ You are therefore been approved to claim the sum of a31,000,000,00 (One Million, Great Britain Pound Sterlings Only).Also, we do sincerely hope you will put part of your winnings into good use for community, educational and business development and also to render selfless services to the less privileged in your community. This office is in receipt of the information you provided for the processing of your lottery winnings of One Million, Great Britain Pound Sterlings (a31,000,000,00) which was also forwarded to us from the ONLINE COORDINATOR OF THE UK NATIONAL LOTTERY INC , your lottery funds of the sum of One Million, Great Britain Pound Sterlings (a31,000,000,00) have been processed. I have forwarded your details, your file and original certificate to our associated COURIER COMPANY (SCARLET COURIER COMPANY) for verification and payment. Now you are required to contact the SCARLET COURIER COMPANY yourself by writing an application for the release of your winnings to you. The application should be presented to them in the below format and sent by email.CONTACT SCARLET COURIER COMPANY FOR YOUR WINNING PRIZE:Courier Name: Scarlet Courier Limited.Contact Person: Mr. Richard PetersonE-mail:- : +447017425121 Fax: +448447743319Note that you are to provide the Scarlet Courier Company with the required details below to officially identify you:1) Winner’s Full Names:2) Present Full Address:3) Telephone Number:4) Country\city :5) Occupation :6) Raffle Draw Winning Email:7) Amount Won: Winning Reference Number:9) Winning Batch Number:10) Winning Transfer Identification code: ELPC/MWT/014311) Winning Certificate Number: UK/9876125Having applied to the Courier, you are required to keep me updated of every correspondence and of progress with the Courier as soon as you are in contact with them because it is my responsibility, as your fiduciary agent, to ensure that you get paid and on time too. Again, it is important that you keep all your winning particulars and numbers personal and confidential until your prize money has been paid to you. This is a security measure to avoid double claiming or/and impersonation.Contact the Courier as soon as possible to avoid delays to your payment. Should you have any difficulties whatsoever, do not hesitate to contact me. Yours Sincerely,Dr. Pinkett Griffin.Uk National Lottery Claims Agent.
Invest it into Balanced Funds
You will pay only about a 25% Taxes.
50% will be in 15% Cap. Gains and the other will be ordinary income Tax of 36% = Ave. 25% Taxes
Ave 9% apy these past 15 yrs x $320 Million will earn you the avearge over over $28 Million a Yr!
Net? $21 million a yr..
Leave 5% In it for Inflation and Growth of $15 Million a Yr..
You still have over $6 Million a Yr to do with what you want..
I’d just PUt into my 6 Balanced Funds
Ave 9% apy ? = $28 Million a Yr
Or do a Warren Buffet and Into Equity Funds and only pay 15% Cap Gains Taxes on what it Makes..!
and only take out 4% Yr = $13 Million
Might Be Enough To Live on in my 2-3 different Homes around the World..
And sorry, Not Charities! Not until I Die..Then they can have it..
That;’s the Biggest Mistake many Sports and Celebs make, donating $ to Charities and then they go Broke in their Older yrs and then what?