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TimDaddy said:
I'm not sure if that was directed at me, but I said that this is what I would do, based on MY current state of mind.

I believe that was in response to one of the earlier posts stating that he should give the second million to charity.

Squire

P.S. Hey, Montat...you said you're in Quebec. What does cejep stand for? Any idea? My office mate is doing a linguistics essay and wanted to mention it but he couldn't remember (or find on the Net) the meaning.
 
Squire said:
P.S. Hey, Montat...you said you're in Quebec. What does cejep stand for? Any idea? My office mate is doing a linguistics essay and wanted to mention it but he couldn't remember (or find on the Net) the meaning.

Google can do great things but you have to give him the right spelling ;-)
Its not CEJEP but CEGEP, it stands for College d'Enseignement Général Et Professionel. Which means : College for General & Professional Studies.
 
Sparky's said:
What part of "the dice always forget" did you not understand. The odds of him winning twice are still one in 623,825. After he wins once, the odds are right back where he started. The Lotto tickets don't know if he won or not!!

No, the odds of him winning *again* are still one in 623,825. The odds of him (or anyone) winning twice (assuming they buy only two tickets) are one in 389,157,630,625.

Compare with the dice analogy: If you throw a die, the odds of getting a six are one in six. If you throw the die again, the odds of getting a six again are still one in six. But the odds of throwing two sixes in a row is one in thirty six. The 36 outcomes with two dice are 1&1, 1&2, 1&3, 1&4, 1&5, 1&6, 2&1, 2&2, 2&3, 2&4, 2&5, 2&6, 3&1, 3&2, 3&3, 3&4, 3&5, 3&6, 4&1, 4&2, 4&3, 4&4, 4&5, 4&6, 5&1, 5&2, 5&3, 5&4, 5&5, 5&6, 6&1, 6&2, 6&3, 6&4, 6&5, 6&6. Count them, and count how many are double-six. There is only one chance in the 36 equally likely outcomes. Therefore the odds are one in 36! To save the counting, just multiply the odds, as I did with the lotto odds.

As for how he spends the money, I hope he does whatever makes him and his family happy. If he wants to donate some to charity, then that's great, if not then that's also fine. I worked for a charity for 2 1/2 years and after that I am very disillusioned with the voluntary sector. The waste and mismanagement I saw was enough to put me off donating for a long while. I now choose very carefully before giving my money away, I don't want it to be wasted.
 
wdlove said:
I was disappointed that there was no mention of donating to charity. He didn't even mention how he actually won the money. My prayer is that he actually is aware and chose not to mention this in public. Although he did say that he felt blessed.

Are you implying that God caused him to win the money? It seems incredibly inefficient to me to help people by causing some guy to win a million dollars and hoping that he will give some to people who need it. Or maybe God wanted the guy to have a new Buick. People believe the weirdest stuff.
 
can we just all agree that if he gives to charity, that's nice, if he doesn't, that's fine too. It's kind of silly to expect him to, but it's also kind of silly to rebuke people for discussing one of the most common uses of lotto money. If i had a lot of money, i don't think i'd give much to charity, i'd prefer to start a trust that did something specific-- look at the Pew Trusts (soon to be singular), if the Pew family had given that money to charities, it would have done some good and then been gone, but now it lives on in a way that's quite impressive, and does continual good.

but $2 million isn't a lot of money, whether he's old or not. Millionaires are not hard to come by anymore, and it's not like he could have made a terribly important gift, in the grand scheme of things. i just hope he knows how lucky he is :)

paul
 
I've actually heard that many lottery winners end up bankrupt or in serious financial straits. As people here have pointed out, $1,000,000 isn't a whole lot of money even though it sounds like it is. People have a tendancy to want to go nuts and they blow through it fast. In some cases the people who don't take the lump sum have vastly overspent the amount that they were to recieve in one year. That has eased some since most lotterys let you take the lump sum payment now, but that only increases the number of people who blow the entire thing.

I could spend $500,000 on a house here and only get a slightly-above-median place. :eek:
 
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