100K From a coke and a muffin...

J-mo44

J-mo44

Member
So this close friend of mine who is in grade 11 (im in grade 8) was at playing soccer near a local mall a few days ago, after the game she decided she would get a coke from Mcd's. So she gets in there and orders the coke, decides she is also going to buy a muffin. She ends up winning some contest and now has 100K. She is buying all of us new skates shoes and putting about 80K away in an account. She is such a down to earth kid though, she is still getting a job at a local ski hill and still carries only small change with her where ever she goes, says it hasnt really hit her yet. Im super pumped for her cause she finally got her break.Anyways I was skateboarding with her today and was just noticing how people have started to treat her very different and its kind of scaring me. Just wondering if you guys/girls think that she will get any *new friends* or long lost relatives out of this whole thing
 
that is amazing. Lots of respect for buying you guys the new shoes too. Seriously I don't know what I would do..probably put a lot away like her, that's definitely a smart move, but I know I'd pick up a few pairs of skis first no doubt!!

As for "new friends and "relatives" don't forget Einstein's theory of relativity: when you're rich, you've got a lot of relatives.
 
if i was her i'd tell all the new freeloaders to fuck offi was wonderin if all those money giveouts were real...guess so
 
yeah most likely there will be a ton of new friends she just has to keep a look out for it she seems like shell handle it well though if she already threw 80k in the bank that was smart
 
Dude that's so cool! I've never known anyone to win a big contest. That's cool that it didn't change her at all, or not noticably.

If I got 100k back in the 90s, I would buy as much land in Dubai as I could.
 
ya i dont think very many people know, i mean all of us who skate know mainly cause she called us right away but she doesnt make a big deal about it so i think she is pretty safe. she bought herself a new snowboard and all new skate gear and shit, so im hoping she is safe with all that money. she is also planning on paying to get into a good school.
 
Man the things you could do with that money.

I think I would hire the best engineers and welders I could to start a bike company

Or a ski company
 
that's so sick she won that money. if i had it, i'd get a new sick drum set, some sick new skis, a car, and then put the rest of the money away where i couldn't get a hold of it easily. but again, that's so awesome she got that money, and i hope she's real smart with it, which she sounds like she is going to be.
 
lawl, in what? have you been paying attention to the economic crisis? she did a smart thing putting that 80 away. honestly i wouldnt know what to do with it, i would get some small things, help out my parents financially and then put alot of it away like she did, also put alot towards my education, good luck to her.
 
i think she will loose friends... we did this study thing in class and some lady who won the lottery like at first everybody loved her and was mooching off of her and then once she stopped giving hand outs nobody would talk to her... pretty shitty
 
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nows a great time to have money... might loose some, might gain some, but if you know whats up you're in it for the long run.
 
shiiiiitt, think about it, there is your retirement, right there. (basically) let that money set around for another (how old is she, 15? ) let that money set around for 50 years! and you're well on your way to retiring!

im not about to run numbers or anything but i bet you could have that 80k be worth 1 million easy by the time you retire.
 
shit man thats sicksounds like she's gonna put the money to good use and use it smartlythere'll definately be some "new friends" but as long as she has good friends around her she'll be finebut ya I'd be fucking stoked I'd book COC right away haha
 
fuck that would be so hard but so worth the pay off and assuming that she is in her mid to late teens it would be perfect timing for retiring. i would just try to forget about it until 50 years later, and if for some reason theres an emergency and you need the money, its always there. and my bad about saying it wouldnt be good to invest when the economy is down, i wasnt really thinking but when you think about it you can invest cheap right now and theres almost nowhere to go but up.
 
maybe we should all of us on ns should place our orders and then u could deliver it to her.
ill take a 1 pair of salomon suspects please and a jar of mayonnaise
 
I will take some 161 anthems and a quarter pounder with cheese.
but really don't let it get to her I know if I had all that money I would pay off all my parents debt from putting my mom through college a second time and raising me. and the best backyard setup money could buy of course.
 
For everyone saying that investing her money in the market right now is not smart is wrong. It Is a smart thing to do.

There are a lot of people and firms who are still making a lot of money in this economy, and it is important to note that the ones that got really fucked were the older investors who were about to pull their money out and retire. Since older investors may not have another 10 years to wait for their investments to recover they are left with big losses. But for the younger investors who plan on taking positions for the next few decades, regardless of the economic crisis, their investments in the markets will inevitably grow into a large return in the long run, guaranteed (assuming money was invested with some common sense).

And realistically she will get much less than 100K. The winnings will be taxed, as Internal Revenue Code strictly states that contest winnings are a part of earned income. Depending on how she plans her finances the 100k could be taxed at the highest tax rate of 35%, this would leave her with 65K. Still a very large chunk of money. But you also have to consider that this payment will mostly likely be presented as an annuity payment or a one time payment adjusted for the time value of money. Assuming that she takes a lump sum payment, and with figures based off a 10 year gov bond, she would get something like 69K, less taxes would put her at around 50K. Or she could take something like $8,500 a year for 10 years (not including taxes). The latter annuity would be the smarter choice from a tax prospective because she would be paying less taxes in the long run. But again, this all depends on how her financial adviser plans this all out and depending on what they do she could end up with most of the 100k.

Regardless, the girl that won was a very lucky girl and I hope she invests most of her money and has the foresight and prudence to realize that if she invests her money now she can retire easily when she is 40; which is something that the majority of Americans will not accomplish in their lifetime.
 
tell her to put the savings in an ING account or a swiss account. better interest and safer. not totally safe though.. as the last few months have demonstrated.
 
ahhh someones in business school.
Pretty much stole the words right outta my mouth. The 100k is the actual future value of the winnings, not the present. Then like he said take taxes outta that and you got the lump sum, unless she wants to take it over a 10 year period, which if she (or probably her family) is smart with investing money she should not do. Take it at once and invest it or put it away. Remember everything in the world is a trend. With the stock market doing this poorly invest now and it will pay off later. It recovered from the crash in '29 and it shall again...
Surprised no one has admitted it yet, but damn im jealous.
 
not unless she had time to study markets and figure out how it works......I think the smartest thing to do is just bank it. $80 000 is enough anyway. That's sick you're friend won that and cool she got everyone new shoes.
 
haha last night I misread the first sentence and dint have time to read the rest, I was waiting all day to come on here and tear you apart, but then I read the first sentence correctly and everything you said is what I was going to 'tear you apart' hahah, I agree 100% with you
 
what the hell man... thats really sweet but 100,000$ is not a break, 100,000$ will get you through college while renting an apartment and having a bit of money for afterwards maybe a shit car or something.
 
Yeah think of all the money she will save from NOT having to pay off student loans after she's out of school.
 
think about this. if you would put $15 dollars from every paycheck that you receive starting from the time you get your first job you will have well over 1mill. by retirement.
 
yup, but why have the money when your old and cant do anything with it, thats why we spend it.

but basically if she put that 80K into a high interest bank account (3%) and sat on it for 5 years she'd make around 97K. if she sat on it for 50 yrs like some dude said above she might not make 1M but she'll make well over 200,000.

but the smarter thing to do would be invest it in a company but with how the economy is doing right now i don't know if that would be the right thing to do, maybe in a couple years.
 
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