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I'm pondering...

• Ꭱ3V Mar 26, 2013

  As far as buying them straight from the lotto commission I don't think you'd even be able to do that. Lottery ticket distribution is VERY tightly controlled. If you own a gas station and have a felony on your record, can't have lotto in your store. The tickets (scratchers) aren't even activated until they're put out for sale. They're scanned by the lotto machine first to activate. Lotto commission would lose money selling straight to buyers. That's why it's done through distributors. ( gas stations, grocery stores etc)
  At least in Cali anyway. Might be different elsewhere. I worked at a busy gas station for 4 years and lotto was our biggest time vampire. Pain in the ass to be honest. At least scratch offs anyway. Doing a sale that involved scratchers would take 10 minutes. Most people take em outside and scratch them. Then bring em back in immediately. 😲🔫
• BIЯDS Mar 27, 2013

  corky316 wrote:

  ebenezer wrote:

  Billionaires typically invest in tax favored investment...
  

  Life insurance is also a vehicle used by many wealthy people

  Very true, a centerpiece of most estate planning. Let's not forget about one of the key investments made by the wealthy, education. In both themselves and their families. It's gotta be hard to pass wealth on after you go. Just ruins the people who know they have it coming to them. Don't work, no ambition, just waiting on their cash cow to die so they can inherit. Education is much better to pass on than wealth.
• BIЯDS Mar 27, 2013

  The difference between being rich and being wealthy is that wealth lasts generations. Being rich is meant to describe temporarily having a lot of currency. True wealth is assets. Assets are things that pay you to own them. Financial intelligence is so important, yet it's not taught in public schools. Please learn the best you can if you agree.
• ☠⚔คwє รђคт⚔☠ Mar 28, 2013

  Remember to factor in you can write off losing lottery tickets up to the amount of winnings you have in a year. So if you win 250m in a lottery. You can deduct up to 250m in losing lottery tickets in theory. Lol
• BIЯDS Mar 28, 2013

  ☬⚒☠ᗩᎦᗰᏫᎠعυᎦ☠⚒☬ wrote:

  Remember to factor in you can write off losing lottery tickets up to the amount of winnings you have in a year. So if you win 250m in a lottery. You can deduct up to 250m in losing lottery tickets in theory. Lol
  

  Really? Well, I suppose if you're wealthy enough to play like that, you have a mean lawyer and tax pro. I'd be afraid of being audited. (Not that I play the lotto) Thats interesting. Our tax code (I live in US) never ceases to amaze me. How did the endless loopholes pass into law anyway? 2nd thought, I don't want to know, or hear more about "pork barrels" frustrating.

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