Win the Lottery and Fire Your Boss




winninglottery Win the Lottery and Fire Your BossWinning the lottery is everyone’s dream. Even though the chance of winning the big jackpot is extremely low, people still buy the lottery hoping to win the big payout and be able to fire their boss and live a good life. It pays to dream, literally.

David Sneath of Livonia, Detroit, does not need to dream anymore because he won the $136 million Mega Millions jackpot. When he saw his winning number on the newspaper, his whole body went numb. His sister and daughter thought it was an April Fools joke when he told them of his winning.

Sneath turned 60 on April 1, 2008, the day he won the jackpot.

One of the perk of winning the lottery is to be able to fire your boss. He took advantage of his winning and did just that. After he went to the lottery office to pick up his first million dollar he yelled to his boss, “I’m out of here.”

Sneath usually contribute $6 a week with 4 other co-works to a lottery pool. But this time, his son brought him $15 worth of tickets using combination of numbers Sneath suggested. One of the combination which happens to be the winning numbers – 4, 17, 26, 46, 56, and 25 for the Mega Ball – were numbers Sneath got from a random pick and continues to use it. He plans to take a one-time lump payment worth $84.3 million, or just under $63 million after taxes.

Another perk is to do the things you always thought about doing but could not do because of limitation of money. With his winnings, Sneath plans to get laser surgery to correct his vision, buy a cottage on Mullett Lake in northern Michigan and maybe get a new fishing boat to fulfill his dream of catching the walleye.

As for his co-workers, he is planning to give $1 million to each.

Life is good when you win the lottery.

What would you do if you win the lottery?

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April 4, 2008 | Filed Under Ramblings | 1 Comment 

Is It Difficult to Save?

Why do we save in the first place? Maybe to buy a car, a house or for early retirement, but for whatever reason we all save for something.

But the question is, “Is it difficult to save?” I guess that depend on the individual. Some people believe you need to have a lot of money before you can begin saving. But I don’t believe that. I believe that if you have the will to save, you will find a way. If you wait for your wallet to get fat then begin, technically you are losing out. Because half of the time you are spending that money and most of the time you don’t even know where you spend it on.

So either way it is being wasted, so why not put some of it away. I’m not talking about a lump sum amount but more of a gradual thing. Most of us know the meaning of compounding. For those who do not, here is an example of what I am talking about.

Let say your initial amount is $500 and you put it in a traditional saving account with an interest rate of 3%. According to what my bank had told me, if the Fed have not cut the interest rate, it would have stayed 5%. Since this article is not about the Fed, I won’t put my two cents in.

The math would look something like this:
Initial: $500 * .03 = $15.00
Total: $515
Second Year: $515 * .03 = $15.45
Total: $530.45

It doesn’t look much now but over a longer period, you’ll see the difference. Hopefully you will continue to add money in each month and if you don’t, that’s okay too, only if you don’t withdraw prematurely.

Sorry to say this, most people want instant gratification but unless you win the lottery, wealth takes time to accumulate.

I find the easiest way to begin is to have the money automatically withdraw, this way you don’t even know it is missing. You don’t have to start out big, even $50 dollars is better than nothing. So I say to all of you, start getting fat money and happy saving…..

Written by Leah (Thanks)

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April 2, 2008 | Filed Under Money Saving Ideas | 3 Comments 

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