What would you do if you won $150,000 in a lottery?

[Resolute 14]

Seriously though, in my situation, I'd pay $20k to eliminate some debts (LOC, car loan), $60k on mortgage, $50k in investments, and $20k in slush fund to rapidly accelerate my arena/stadium tour.

In OP's scenario, divorce her and use my remaining $75k on hookers and blow.

[MoneyGuy]

I'd take my family on a really nice winter vacation (there are five of us), then invest the rest into (predominantly global) equities.

[Righteous1]

Surprise your wife with a nice bag/necklace 5kish? (Don't tell her you won money, just say you had been putting money aside to get her something nice)

Do whatever the f you want with the rest..maybe spearmint rhino lv as a starting point.

[Barbecue]

Originally Posted by Slava

I said against a single house because that's what it is: one house. That specific house might be awesome, or might be average, so who knows whether it's a better investment than the other houses on the street or in the city? It just happens to be the house you have a mortgage on currently, and you live there. So what I'm saying is that investment wise, and purely investment wise, we have no idea whether it's a good investment or not. And theoretically you might save three percent in interest on that $150k, but you could easily surpass that in the market.

I should note that although you don't seem to think it's possible, advisor's will give advice based on a situation and not only whether they stand to profit. I would say that if the person here was close to retirement and the decision was to pay off their 'forever' house entirely I might provide different advice. To me that's a completely different situation. I take this as a guy a couple decades or more away from retirement, paying a mortgage and maybe staying in the house, maybe not. That doesn't scream pay the mortgage down to me, because it's basically savings for the next house, if that makes sense?

It's possible, its more likely to lose that money or break even, especially when the break even bar is raised and you have a market that isnt doing as well as it has historically

What my issue is, its throwing the advice of using the money to invest while you are borrowing. it's counterproductive and it only serves to pay the advisors and bankers.

Sure, we might have an idea as to what their age range is, but we dont know what their goals are (like moving into a better house), how aggressive they want to get it and more importantly we dont know what their risk tolerance is. Someone has to have a high risk tolerance to want to do leveraged investing. Would you not agree that if someone has a moderate or slightly higher than moderate risk tolerance shouldn't be talked into leveraged investing?

[Slava]

Originally Posted by Barbecue

It's possible, its more likely to lose that money or break even, especially when the break even bar is raised and you have a market that isnt doing as well as it has historically

What my issue is, its throwing the advice of using the money to invest while you are borrowing. it's counterproductive and it only serves to pay the advisors and bankers.

Sure, we might have an idea as to what their age range is, but we dont know what their goals are (like moving into a better house), how aggressive they want to get it and more importantly we dont know what their risk tolerance is. Someone has to have a high risk tolerance to want to do leveraged investing. Would you not agree that if someone has a moderate or slightly higher than moderate risk tolerance shouldn't be talked into leveraged investing?

I'm not talking about leveraged investing. I'm talking about someone who has a mortgage on a property already and wins money in the lottery. You can call this leverage if you like, but I'm not suggesting that they run out and borrow more money. You're doing your best to suggest that because they're not paying down the mortgage though that this somehow constitutes leverage; it does not. As I mentioned in the other thread, this is a hypothetical scenario and we obviously don't have all the facts. Of course we don't know their goals and dreams because its hypothetical! No one is getting talked into anything because these people don't exist! As I also mentioned in the other thread, I'm curious to know your credentials and why you have this axe to grind with advisors. What do you do for a living?

[1stLand]

If I won $150,000 I would set up a meeting with Slava.

In that meeting I would try and convince him to vote for Wildrose in the Next Provincial Election.

Then I would drive to bank and put the money in a Savings Account.

[Slava]

Originally Posted by 1stLand

If I won $150,000 I would set up a meeting with Slava.

In that meeting I would try and convince him to vote for Wildrose in the Next Provincial Election.

Then I would drive to bank and put the money in a Savings Account.

We could hold the meeting at a local pub beside the bank and save you a step. The beer would help you prepare for the disappointment in 2016 as well!

[Derek Sutton]

On a side note, I just won $660 on a Walking Dead Machine, it is all going towards Christmas presents for the Nephews (6x $100) and the Nieces (2x $30).

[Mean Mr. Mustard]

Originally Posted by Derek Sutton

On a side note, I just won $660 on a Walking Dead Machine, it is all going towards Christmas presents for the Nephews (6x $100) and the Nieces (2x $30).

You are giving your nieces a gift of less than 1/3 of that of the nephews?

[FireFly]

Originally Posted by Derek Sutton

On a side note, I just won $660 on a Walking Dead Machine, it is all going towards Christmas presents for the Nephews (6x $100) and the Nieces (2x $30).

Or you could spend $82.50 on each and treat them as equals....

[1stLand]

You should just spend the $660 on yourself.
Buy Johnny Gaudreau and Giordano Home Jerseys.
The rest of the money should be spent seeking out counselling for your gambling addiction

[MacDaddy77]

Originally Posted by Derek Sutton

On a side note, I just won $660 on a Walking Dead Machine, it is all going towards Christmas presents for the Nephews (6x $100) and the Nieces (2x $30).

im hoping you were just fishing for the response i expect you'll be getting from this comment

[Derek Sutton]

Originally Posted by MacDaddy77

im hoping you were just fishing for the response i expect you'll be getting from this comment

Yes, there gifts have always been within $5 or so of each other.