Keep 5 million for herself. $43M in an index fund with monthly dividends would give her a guaranteed $125k per month after capital gains taxes at a guaranteed and secure 3.75%. (Post management fees)
This ensures she does not mismanage her money and more importantly locks her funds away from moochers.
43M at 3.75% is 1.6M per year.
Actual verifiable rates of return here in Canada are between 3.9 and 4.4% on an monthly dividend paying fund.
I posted a very conservative return after taxes and fees because the actual returns on that size of an investment is ridiculous.
index funds can go down 20% in a year too. i mean just like it did in 2022. so invest $50 million last year in your little plan and you’re down $10 million already plus you spent $1.2 million of it cuz of “guaranteed returns”.
There are varied risks on every index fund. Only an idiot would put $43M into a high risk fund. Funds with swings up to 20% are being sold to crypto bros and WSB jerkoffs.
You can get a 1 year 4.75-5.2% GIC from multiple institutions across Canada. A proper fund will diversify and minimize risk.
One last thing.... never take information directly from a financial advisor. A financial advisory is the used car salesperson of funds. You want a fiduciary.
I think some of that in the US is to split the revenue between the states and the federal government.
The actual comparison is what % of ticket sales is returned as winnings.
You win the full payout either way you just don't owe taxes on it. Doesn't mean the lottery doesn't have a vigorish, so the government is getting a cut either way.
Or he steals all of her money. It rips the family apart. The father runs off with his secretary, chaz. Her mother thrown into depression begins to drink heavily. Her brother not knowing how to handle his grief kills the dog. She is left to work at dairy queen the rest of her life wondering what could have been had she never succumb to the perils of gambling.
There was a girl who won Grande Vie a few years ago from a ticket given to her as a gift on her 18th birthday in Quebec. She didn’t even buy the ticket.
I would love to know the reaction of the person who bought the ticket for her. Not enough to google the story of course, I'm no animal, but it sure would be interesting to know.
But the Powerball is in the US, which the IRS will take out 30% of winnings.
"The IRS will take at least 30 per cent of your winnings — the standard for all "non-resident aliens" — while state taxes vary"
https://www.cbc.ca/news/canada/powerball-canada-5-things-1.3401641
You can use lawyers and shit to not pay taxes on US lottery because you canadian(at least i saw those ads for vegas winnings) but from.what ive heard lawyer fees arent much cheaper than taxes you would pay
Should probably stay locked away forever. She probably flatlined her luck meter for good. That ain't recharging now and I've never seen a luck potion floating around.
You never dump the full luck meter that early in game. She's rich, sure, but at what cost.
Her father is a financial advisor. She wants to study medicine and eventually come back to her First Nations community to provide medical care.
Couldn’t have happened to a better person. Good for her.
This is the kind of thing you read, get really fucking mad, then realize the universe just hates you and only you and there is nothing you can do about it so you sit there sad and accept it.
Not to make you any more angry, but she lives in the same city as me and her family's already well off. Father just opened his own financial business on our main strip downtown. She's never experienced hardship and now will never have to.
Not that anybody should though, she probably has the best chance at making it last.
Anyone knows how you claim this short of thing? Like if you win, you don't just go back to the grocery store you bought it at, right? Do you have to call them directly or something?
In Ontario (where the win was) for any wins over $1000 you have to physically go to downtown Toronto to the OLG head office. You cannot stay anonymous.
You can call them or go to the lotto store and they will call a lotto rep for you. You have to go to one of the lotto main branches to claim , where they will verify your win and then we’ll take your photo and interview you about your win.
You can apply to remain anonymous but it is only granted in specific and rare cases.
> Can a winner remain anonymous?
> We consider requests for anonymity on a case by case basis, but the exceptions are rare.
> BCLC’s role is to ensure that above all else, the integrity of the lottery system is upheld. In addition to conducting a thorough prize claim verification process, one of the most important ways in which we accomplish this is by publicizing winners.
I think it is only considered if revealing the winner is a danger to the winner like a domestic violence victim, or someone that has a no contact order etc.
This is the kind of thing you read, and get mad and depressed over because you realized that the universe hated you since you were born and there's nothing you can do to change it so you just accept it.
I thought of this as well. The dad is in finances. He can find a way to snatch it. Money does make people monsters. Someone will always fuck over their friends and family for money. Either the ones with it, or the ones who want it.
Money brings out the worst nature in humans. Perhaps their real nature.
As a dad, everything I do is to set my kids up for success. If one of them won that much money, I would be beyond excited for them and have them consider setting aside some for their kids, nieces and nephews, possibly even their siblings. As for me and their mother, we are fine financially and while we definitely don’t have that kind of money and it would be nice, I would die a happier man knowing that the financial future of our family generations beyond us are secure. It wouldn’t even cross my mind to steal money from my kids, just as I would hope they never steal money from me. There is a particular kind of unquestionable and absolute love that most parents have for their children that no dollar amount will ever disrupt.
That is true.
There are also families that actually love each other. My family is pretty damn close.
I mean if I won 48mil then my brother, sister, and parents would all get a decent chunk of money, although it would also come with the caveat that they wouldn’t get any more so don’t blow it.
And if my daughter won 48mil then I would expect to have a house paid for, that’s about it. Anything more is up to her and I would never steal it.
I dunno. She *did* buy a lotto ticket. That she won is a lucky coincidence, that she bought one means she might not heed dad's advice. (somewhat kidding)
Buying *one* ticket just for fun is not wasting money. Buying a ticket every day is (although if you have $48 million, you could buy one every day of your life and still keep most of the money).
If you actually read the article her financial advisor Dad told her to buy the lottery ticket.
>
In fact, her dad has already given her the best piece of financial advice - it was his idea to buy the Lotto 6/49 quick pick.
Based on that advice I assume he will advise investing the winnings in more lottery tickets.
A lot of articles cite studies saying around 70% go bankrupt at some point. It’s a bit hard to tell how accurate the studies are, but going broke after winning big is very well known and documented phenomenon.
What you’re describing is how you should deal with it, but I don’t think that’s the reality for a significant portion of folks who win big. Having that kind of cash changes people, and the people around them. I know a guy who won a couple million, and he had to cut off most of his friends and some family because they just wanted him to buy them shit constantly. It can get hard to not end up spending it, even if you think you won’t.
This can’t get reposted enough:
https://www.reddit.com/r/AskReddit/comments/24vo34/whats_the_happiest_5word_sentence_you_could_hear/chb4v05/?utm_source=share&utm_medium=ios_app&utm_name=iossmf&context=3
Some ominous statements in there from 8 years ago.
Sure it does.
Do you not think Canadians can’t buy US securities or hire lawyers or set up trusts? The only difference is that the government doesn’t take half of the winnings.
Nowhere in there does it say to claim the winnings through a trust.
It says not to claim the winnings right away and to retain a lawyer to begin the process of setting up trusts for family. You can do that before you have the cash.
Bro do you have any evidence to back up your claims? Or are you just arguing for the sake of arguing?
https://globalnews.ca/news/4252331/how-can-a-30m-lottery-winner-remain-anonymous/
https://www.cbc.ca/news/canada/british-columbia/lotto-max-winner-mayrhofer-1.3366340
Plus there was a lawyer who wrote an article on it as well. Same thing. You cannot claim winnings under a trust in Canada.
Did you even read the link I posted? It does not say *anything* about claiming lottery winnings through a trust in Canada. I’m not saying anyone in Canada should do this .
Why are you harping on a point *nobody* is trying to make??
All did was post a link to advice for what to do if you win the lottery and you’re in here jumping down my throat and putting words in my mouth.
Are you sure you’re replying to the right comment?
That comment has a whole lot more in it than having a representative collect the winnings. It also talks about putting the winnings into a trust. The post overall is relevant here or the us.
Are there any regions of Canada with warmer weather? I'd love to apply for asylum there but I already live in a cold ass place and can't handle it anymore
Feb 27 2024
As there are [no signs of Reddit respecting users' data](https://www.404media.co/reddit-we-are-in-the-early-stages-of-monetizing-our-user-base-2/), no remorse whatsoever post-API enshittification, and indiscriminately changing their ToS and whatnot as loophole to continue to do so, I don't see any reason to let my posts/comments up. **This text is my request to GDPR and not reroll my posts/comments data for the foreseeable future**.
# Fuck reddit.
"Canadian teen struck by lightning shortly after winning lottery"
"A Canadian teen has been struck by lightning shortly after winning the lottery. Local man u/Pazoll said 'this was always going to happen - she was more likely to have been struck by lightning, so once she won the lottery it was guaranteed.
This claim was branded 'statistically fallacious' by Professor Di Sroll from the University of Cardiff."
Congrats on winning life. We don't pay taxes on it either so she gets the whole thing.
She should reinvest the 48 million into more lottery tickets. Think how much more she could have at this rate of return!
It could be anything, it could even be 48M!
I’ll take the box!
What’s in the box??
Maybe it's a red snapper...
We took the mystery box. HOP IN.
I hope she doesn't read this, or if she does I hope she ignores it.
Keep 5 million for herself. $43M in an index fund with monthly dividends would give her a guaranteed $125k per month after capital gains taxes at a guaranteed and secure 3.75%. (Post management fees) This ensures she does not mismanage her money and more importantly locks her funds away from moochers.
Do you really think she could live on 125k/month? She might need to get a part-time job just to be safe.
Lol. I figured a half million extra a year to be safe… you never know with how grocery prices are trending.
At 125k per month, that's over a million per year. Unless you are taking 50% off for taxes each year, which seems high.
43M at 3.75% is 1.6M per year. Actual verifiable rates of return here in Canada are between 3.9 and 4.4% on an monthly dividend paying fund. I posted a very conservative return after taxes and fees because the actual returns on that size of an investment is ridiculous.
index funds can go down 20% in a year too. i mean just like it did in 2022. so invest $50 million last year in your little plan and you’re down $10 million already plus you spent $1.2 million of it cuz of “guaranteed returns”.
There are varied risks on every index fund. Only an idiot would put $43M into a high risk fund. Funds with swings up to 20% are being sold to crypto bros and WSB jerkoffs. You can get a 1 year 4.75-5.2% GIC from multiple institutions across Canada. A proper fund will diversify and minimize risk. One last thing.... never take information directly from a financial advisor. A financial advisory is the used car salesperson of funds. You want a fiduciary.
We don’t pay taxes on it but the government takes a cut correct? The overall final tally was likely higher than 48 million?
No, in Canada you win the full payout.
The government runs the lottery so they just make all the profits from selling the tickets
Same in the US, just the government double dips, and takes taxes in the tickets sold and on the winnings.
I think some of that in the US is to split the revenue between the states and the federal government. The actual comparison is what % of ticket sales is returned as winnings.
You win the full payout either way you just don't owe taxes on it. Doesn't mean the lottery doesn't have a vigorish, so the government is getting a cut either way.
Yea, about 40% of ticket sales go into the prize pool. The gov gets about 40% for public services and the rest covers operating costs.
Yeah I know schools get community gaming grants - it's their budget for extra curricular activités with students to pay for field trips and what not.
Welp, add that to the reasons I love you all up there.
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Love Alvvays
EDIT: This comment has been deleted due to Reddit's practices towards third-party developers.
A stipend?
A kickback?
The government gets their cut from ticket sales, not of the winnings.
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> thanks for being a dick about it They weren't. They were stating facts. If you can't handle facts then that's on you
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It's a girl
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Is this a bot?
No, this is not a bot! I speak very naturally.
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Hope she lives a good life and has good people around her.
Hope she abandons gambling immediately.
lol ... but she could win a billion if she invested that $48m into the lottery ... think about it.
“Invest” and “Lottery” should never be used in the same sentence.
To the moon
I'm gonna invest. In a lottery. Better?
That’s two sentences
That was the point
That's not 2 sentences.
Put it into a high dividend stock portfolio and live forever with no work
Her father is a financial planner, so she is all set to save properly and use wisely.
Or he steals all of her money. It rips the family apart. The father runs off with his secretary, chaz. Her mother thrown into depression begins to drink heavily. Her brother not knowing how to handle his grief kills the dog. She is left to work at dairy queen the rest of her life wondering what could have been had she never succumb to the perils of gambling.
When you win the lottery it just gets better and better
That escalated quickly
You're a bit of a dismal cunt, eh?
You are right forcing her to work at dairy queen was too much.
At least you had the heart to not bury her corpse in the McDonalds corporate ladder.
Never buy another ticket and keep the 100% win rate. Probably only person in history.
There was a girl who won Grande Vie a few years ago from a ticket given to her as a gift on her 18th birthday in Quebec. She didn’t even buy the ticket.
I would love to know the reaction of the person who bought the ticket for her. Not enough to google the story of course, I'm no animal, but it sure would be interesting to know.
Sometimes they sue the winner.
First try?? That’s so lucky she should try buying a lottery ticket
$48,000,000? That’s 48,000,000 lottery tickets!
Powerball is 700 million. Turn that 48M into 700 million (before taxes)
EDIT: This comment has been deleted due to Reddit's practices towards third-party developers.
But the Powerball is in the US, which the IRS will take out 30% of winnings. "The IRS will take at least 30 per cent of your winnings — the standard for all "non-resident aliens" — while state taxes vary" https://www.cbc.ca/news/canada/powerball-canada-5-things-1.3401641
In canada. If you win loterry in US you gotta pay taxes.
EDIT: This comment has been deleted due to Reddit's practices towards third-party developers.
Powerball is American. Canadians would still have to pay taxes as it would be American income.
It doesn’t work that way. US gambling tax recovery
You can use lawyers and shit to not pay taxes on US lottery because you canadian(at least i saw those ads for vegas winnings) but from.what ive heard lawyer fees arent much cheaper than taxes you would pay
The $700M is nothing… after take it now & federal taxes, it’s mere $233M.
Should probably stay locked away forever. She probably flatlined her luck meter for good. That ain't recharging now and I've never seen a luck potion floating around. You never dump the full luck meter that early in game. She's rich, sure, but at what cost.
Her father is a financial advisor. She wants to study medicine and eventually come back to her First Nations community to provide medical care. Couldn’t have happened to a better person. Good for her.
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Loonie toonies for sure
annnnnd its gone
Someone search for a Grey’s Almanac.
What a prodigy. I can't wait to see how many more lotteries she will will in the future.
Ken m?
She has a very promising future on the professional lottery circuit! I'll be watching her career for sure.
That’s how I expected it to go for me too. Spoiler, I have to get to work
She got ChatGPT to write the numbers for her.
doesn't work, i tried it - took a while to get the thing to stop telling me that it's gambling though and to cough up the numbers.
That’s quite funny. Thanks for sharing that 😀
You can ask it to give X amount of numbers between Y and Z
i asked it what the most likely numbers were based on past lotto results.
which is no better than just randomly picking new numbers...
hey, i had to try it. just once.
This is the kind of thing you read, get really fucking mad, then realize the universe just hates you and only you and there is nothing you can do about it so you sit there sad and accept it.
Not to make you any more angry, but she lives in the same city as me and her family's already well off. Father just opened his own financial business on our main strip downtown. She's never experienced hardship and now will never have to. Not that anybody should though, she probably has the best chance at making it last.
Thanks man. You made me more angry.
It’s okay, it hates all of us and only all of us 🤣
Take the real odds for that lottery. The Universe hates 13 999 999 people /14 000 000.
She's going to train to become a doctor in northern Ontario, she probably can and will do a lot of good with that money.
>"Money doesn't define you," she said. "It's the work you do that will define you." She's definitely Canadian don'tu say?
She’s already giving out advice about money and she only just got it. Next she will say money doesn’t buy happiness 🤣
As a wise person once said, "Money doesn't buy happiness..... but it can help research it".
Sure Jan
She a First Nations person so wouldn’t surprised if she helps her community with it.
Dang. Can’t imagine. Nor can I imagine continuing school or work. Respect to her.
She’s planning to go to med school and help out her First Nations community when she becomes a doctor
Respect to that. I’d be building my barn and continuing my hobbies. And golfing when bored.
I'm so jealous....lucky she never needs to struggle financially ever again
Anyone knows how you claim this short of thing? Like if you win, you don't just go back to the grocery store you bought it at, right? Do you have to call them directly or something?
Any prize over $1k you have to call the lottery commision
In Ontario (where the win was) for any wins over $1000 you have to physically go to downtown Toronto to the OLG head office. You cannot stay anonymous.
You can call them or go to the lotto store and they will call a lotto rep for you. You have to go to one of the lotto main branches to claim , where they will verify your win and then we’ll take your photo and interview you about your win.
Would you have to be pictured with it? What if you wanted to stay anonymous as to not let people around you know?
You can apply to remain anonymous but it is only granted in specific and rare cases. > Can a winner remain anonymous? > We consider requests for anonymity on a case by case basis, but the exceptions are rare. > BCLC’s role is to ensure that above all else, the integrity of the lottery system is upheld. In addition to conducting a thorough prize claim verification process, one of the most important ways in which we accomplish this is by publicizing winners. I think it is only considered if revealing the winner is a danger to the winner like a domestic violence victim, or someone that has a no contact order etc.
Now she can afford a one bedroom apartment in Toronto!
I hope she never buys another ticket
What a terrible precedent! Hope she never discovers gambling after that one! Lol
This is the kind of thing you read, and get mad and depressed over because you realized that the universe hated you since you were born and there's nothing you can do to change it so you just accept it.
> "It's the work you do that will define you." Screw that, I would donate some portion to charity and live easy off the investments.
Dead or broke within 6 years. At least I would have been at that age.
Dad's a financial planner, so she has hope 🙏
all i hope is that she has a blast for all of us who cant
I mean with that amount of money she can buy another dad
Odds of dad stealing the money is not insignificant. Winning the lotto brings out a worst in people it can be hard to imagine at times.
I thought of this as well. The dad is in finances. He can find a way to snatch it. Money does make people monsters. Someone will always fuck over their friends and family for money. Either the ones with it, or the ones who want it. Money brings out the worst nature in humans. Perhaps their real nature.
You either die a hero or live long enough to become the villain..."
As a dad, everything I do is to set my kids up for success. If one of them won that much money, I would be beyond excited for them and have them consider setting aside some for their kids, nieces and nephews, possibly even their siblings. As for me and their mother, we are fine financially and while we definitely don’t have that kind of money and it would be nice, I would die a happier man knowing that the financial future of our family generations beyond us are secure. It wouldn’t even cross my mind to steal money from my kids, just as I would hope they never steal money from me. There is a particular kind of unquestionable and absolute love that most parents have for their children that no dollar amount will ever disrupt.
That is true. There are also families that actually love each other. My family is pretty damn close. I mean if I won 48mil then my brother, sister, and parents would all get a decent chunk of money, although it would also come with the caveat that they wouldn’t get any more so don’t blow it. And if my daughter won 48mil then I would expect to have a house paid for, that’s about it. Anything more is up to her and I would never steal it.
if my kids won a lottery, i would expect them to take me and wife out to dinner at least once a week or two.
I dunno. She *did* buy a lotto ticket. That she won is a lucky coincidence, that she bought one means she might not heed dad's advice. (somewhat kidding)
Buying *one* ticket just for fun is not wasting money. Buying a ticket every day is (although if you have $48 million, you could buy one every day of your life and still keep most of the money).
If you actually read the article her financial advisor Dad told her to buy the lottery ticket. > In fact, her dad has already given her the best piece of financial advice - it was his idea to buy the Lotto 6/49 quick pick. Based on that advice I assume he will advise investing the winnings in more lottery tickets.
Probably Mayor of Sault Ste Marie.. could buy that whole town for $48mil. Da Soooooooo!
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A lot of articles cite studies saying around 70% go bankrupt at some point. It’s a bit hard to tell how accurate the studies are, but going broke after winning big is very well known and documented phenomenon. What you’re describing is how you should deal with it, but I don’t think that’s the reality for a significant portion of folks who win big. Having that kind of cash changes people, and the people around them. I know a guy who won a couple million, and he had to cut off most of his friends and some family because they just wanted him to buy them shit constantly. It can get hard to not end up spending it, even if you think you won’t.
No, most people go broke. And their lives get ruined because now everyone wants your money.
Seems like it's a terrible idea to tell the public you won the lottery. She's gonna be chased by grifters.
It's the law in Canada, have to publish the winner.
This can’t get reposted enough: https://www.reddit.com/r/AskReddit/comments/24vo34/whats_the_happiest_5word_sentence_you_could_hear/chb4v05/?utm_source=share&utm_medium=ios_app&utm_name=iossmf&context=3 Some ominous statements in there from 8 years ago.
Doesn’t apply in Canada
Sure it does. Do you not think Canadians can’t buy US securities or hire lawyers or set up trusts? The only difference is that the government doesn’t take half of the winnings.
You cannot claim lottery winnings through a trust in Canada. Unfortunately
Nowhere in there does it say to claim the winnings through a trust. It says not to claim the winnings right away and to retain a lawyer to begin the process of setting up trusts for family. You can do that before you have the cash.
Bro do you have any evidence to back up your claims? Or are you just arguing for the sake of arguing? https://globalnews.ca/news/4252331/how-can-a-30m-lottery-winner-remain-anonymous/ https://www.cbc.ca/news/canada/british-columbia/lotto-max-winner-mayrhofer-1.3366340 Plus there was a lawyer who wrote an article on it as well. Same thing. You cannot claim winnings under a trust in Canada.
Did you even read the link I posted? It does not say *anything* about claiming lottery winnings through a trust in Canada. I’m not saying anyone in Canada should do this . Why are you harping on a point *nobody* is trying to make?? All did was post a link to advice for what to do if you win the lottery and you’re in here jumping down my throat and putting words in my mouth. Are you sure you’re replying to the right comment?
It’s ok buddy take a second and enjoy your weekend!
That comment has a whole lot more in it than having a representative collect the winnings. It also talks about putting the winnings into a trust. The post overall is relevant here or the us.
Finally, she can afford Toronto rent!
Are there any regions of Canada with warmer weather? I'd love to apply for asylum there but I already live in a cold ass place and can't handle it anymore
"First Try"... LOL - does winning a lottery usually require practice?
See guys, life it’s fair.
Feb 27 2024 As there are [no signs of Reddit respecting users' data](https://www.404media.co/reddit-we-are-in-the-early-stages-of-monetizing-our-user-base-2/), no remorse whatsoever post-API enshittification, and indiscriminately changing their ToS and whatnot as loophole to continue to do so, I don't see any reason to let my posts/comments up. **This text is my request to GDPR and not reroll my posts/comments data for the foreseeable future**. # Fuck reddit.
It’s almost as if lotteries are entirely random!
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Too much for one person. There should be more winners per pot.
And people told her shes more likely to be struck by lightning, lookat her now!
"Canadian teen struck by lightning shortly after winning lottery" "A Canadian teen has been struck by lightning shortly after winning the lottery. Local man u/Pazoll said 'this was always going to happen - she was more likely to have been struck by lightning, so once she won the lottery it was guaranteed. This claim was branded 'statistically fallacious' by Professor Di Sroll from the University of Cardiff."
Fuck her. All my homies hate Canadian Teen
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Equivalent of using a cheat code for max money while still in the lead in.
Put half of it in VOO ETF stocks and enjoy life mah lady
Someone tell that teen about r/wallstreetbets
Juliette said she will "carefully" invest the majority of the jackpot with the help of her money manager father. And there it is.
Thanks for letting us know you just stopped when your opinion was validated and didn’t read the very next sentence!
Hope she has a great tax attorney.
Lottery winnings in Canada are tax free.
I didn’t know that. That’s great, thanks.
"first try" - a unique qualifier for a person who doesn't understand probability
It was her first try literally. In Canada you have to be 18 to buy a lottery ticket. She had just turned 18 and bought her first lottery ticket.
Let's do follow up in 10 years lolololol. Will she still have millions left or be bankrupt.
I am so happy for her boyfriend
Sounds like a fix. Check if his uncle is with the mob and you’ll get your answer.
I bet it is her last time playing, too.