If I won Lotto...

**FlangMasterJ** · 3rd April 2009, 22:41

Daryl Atkins' 2006 X-Games Honda for sale.

http://supermotojunkie.com/showthread.php?t=78265

**JimO** · 4th April 2009, 06:13

if i won lotto i would flick my mortgage

**sinfull** · 4th April 2009, 06:17

Originally Posted by jimjim

if i won lotto i would flick my mortgage

Put it in the bank and borrow against it to flick the mortgage ! then you not only have the house, you have the lotto winnings at retirement !

**JimO** · 4th April 2009, 07:08

Originally Posted by sinfull

Put it in the bank and borrow against it to flick the mortgage ! then you not only have the house, you have the lotto winnings at retirement !

so i borrow off the bank the money i owe the bank to repay the mortgage

**sinfull** · 4th April 2009, 07:35

Originally Posted by jimjim

so i borrow off the bank the money i owe the bank to repay the mortgage

haha ok reword it a little ! Throw it in the bank and let it the interest off it pay ya mortgage

But yeah to that effect ! lets say ya don't have a mortgage yet and ya won a mill ! Would you
a/ go out and spend half of it and buy a flash house, blow the rest and have yaself a bloody good time for a yr or so and then go back to work to save for ya retirement, so the govmunt don't take the house off ya when ya reach old age ?
Or
b/ invest it and say ya get 10% interest (ya won't but its easier to work out) so lets say 100 grand in interest, lose 25% in tax leaves ya 75 k per yr !
Borrow 500k to buy a house at 10% interest is 50 a year, leaves ya with 25k that comes off the principle every year ! 20 yrs later ya paid the dept off and own the house out right and still have the mil in the bank ?
Not to mention the other properties ya could have bought along the way with the eguity you gain in the initial house and fill them with tenants to pay them off for ya ! And of course keep working for ya play money !
Now two or three mill >>...... hehehehe

**JimO** · 4th April 2009, 07:47

ok so now all i have to do is win lotto

**Owl** · 4th April 2009, 07:49

Argh, but if you paid for the house outright and saved the rest of the money, you'd be better off!

**sinfull** · 4th April 2009, 08:25

Originally Posted by Owl

Argh, but if you paid for the house outright and saved the rest of the money, you'd be better off!

Yeah if ya worked out all the compounding interest ya would get it back but id be happy in the knowledge i will retire with 75k a year lol cause i wouldn't be able to help myself but spend the interest as it comes in !

**Blatman** · 4th April 2009, 11:43

if I won Lotto....sigh....

**Mikkel** · 4th April 2009, 22:57

If I won the lotto I'd be highly suspicious since I don't play.

If I did play and I won I'd go to see my doctor to check that I didn't have cancer - it is after all much more likely.

**caseye** · 5th April 2009, 11:20

Ah , If Only Lotto would win me , I'd be soooo happy. A brand new bike for me and da wife, and the girls, all three of em and then , well wheres this road go??