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Post by Disgruntled70sHab on Jul 24, 2008 21:44:22 GMT -5
Maybe he'd like to take some of his Habs' buddies with him to the odd game. Man dreams of a life of leisure after lotto win
By CNEWS
Kevin Frost has been a die-hard Montreal Canadians fan his whole life and his dream of being able to watch more live Habs games just came true. (Stan Behal/SUN MEDIA)
Kevin Frost has been a die-hard Montreal Canadiens fan his whole life and now his dream of being able to watch more live Habs games has come true.
Today, Frost picked up a cheque for $7,379,200.00, half of the July 16, 2008 LOTTO 6/49 jackpot.
“I was just finishing breakfast watching the news, and I saw my numbers scroll by on the bottom of the screen,” said a very composed Frost.
“He started screaming ‘Oh my God’, and I thought the Canadiens traded a player or something!” added Christine Simard, Frost’s long-time girlfriend, also a hockey lover.
Soon enough, after checking the numbers on-line, the couple realized they held a ticket worth millions. “It’s shock, it’s disbelief!” Frost said.
With the winnings, he plans to pay down his mortgage and maybe buy a cottage.
Other than hockey, Frost also enjoys playing golf, and plans to fulfill a lifetime dream of playing at St. Andrew’s in Scotland, the oldest golf course in the world.
As far as retirement, he is going to take his dad, Barclay’s words of advice.
“Should I quit work in the future,” Frost quipped, “(my father) said to make sure I have something to retire to.” cnews.canoe.ca/CNEWS/Canada/2008/07/24/6256991-sun.html |
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Post by CentreHice on Jul 24, 2008 22:22:55 GMT -5
If he really was a die-hard Montreal fan, you'd think he'd donate half to sweeten the Sundin offer.  |
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Post by seventeen on Jul 25, 2008 0:56:59 GMT -5
Yah, darn right....I would.  |
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Post by Polarice on Jul 25, 2008 4:24:27 GMT -5
So.....is he gonna buy me tickets or what?  |
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Post by BadCompany on Jul 25, 2008 7:46:36 GMT -5
Mr Frost... PM me please... I have an investment idea for you...
(mainly involves you giving me your money, but don't worry, I'll put it to good use)
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Post by CentreHice on Jul 25, 2008 9:03:25 GMT -5
“Should I quit work in the future,” Frost quipped,
If I won that much money, there would be no "should" and the future would be very close to the present.
More like: "When I quit work right after this press conference...."
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Post by CrocRob on Jul 25, 2008 9:06:00 GMT -5
“ Should I quit work in the future,” Frost quipped, If I won that much money, there would be no "should" and the future would be very close to the present. More like: "When I quit work after this press conference...." I don't know what I'd do with myself not working. I'd be bored senseless. I'd probably take a million of it an invest it in my own company or something. |
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Post by CentreHice on Jul 25, 2008 9:12:18 GMT -5
“ Should I quit work in the future,” Frost quipped, If I won that much money, there would be no "should" and the future would be very close to the present. More like: "When I quit work after this press conference...." I don't know what I'd do with myself not working. I'd be bored senseless. I'd probably take a million of it an invest it in my own company or something. Depends where you are in life. I'm going to be 50 in December. I plan on retiring at 55 anyway. So a 5-year headstart in great health would be fine with me. After making sure family has some funds...some favourite charities got their due...and some was locked away to grow....there is a lot of the world that my wife and I haven't seen. Raising a family (empty nesters now)...work, work, work.... Yeah....quitting work tomorrow would be just fine. And I love my job. And yes....I'd get everyone on this board that could make it...and we'd see a game in Montreal and have a night out.* *Offer includes game, dinner/drinks, accommodations only. Transportation, shoe models, bail money, in-room movies, mini-bar, and room service not included. |
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Post by The New Guy on Jul 25, 2008 10:06:25 GMT -5
“ Should I quit work in the future,” Frost quipped, If I won that much money, there would be no "should" and the future would be very close to the present. More like: "When I quit work after this press conference...." I don't know what I'd do with myself not working. I'd be bored senseless. I'd probably take a million of it an invest it in my own company or something. I've heard lots of people say that. My reply to them is, don't you think you could use that money to keep yourself entertained? I figure I'd go back to school and get a degree in something interesting but absolutely useless (Latin? History? Music?) and the rest of my time traveling the world. That would keep me occupied for a long, long time. |
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Post by CrocRob on Jul 25, 2008 13:50:04 GMT -5
I don't know what I'd do with myself not working. I'd be bored senseless. I'd probably take a million of it an invest it in my own company or something. I've heard lots of people say that. My reply to them is, don't you think you could use that money to keep yourself entertained? I figure I'd go back to school and get a degree in something interesting but absolutely useless (Latin? History? Music?) and the rest of my time traveling the world. That would keep me occupied for a long, long time. And to the people who say they'll be entertained with it, I'd say the money probably won't go as far as you'd like. I mean, I'm 24 years old. $7 million dollars would let me lead a life of fairly modest leisure for the rest of my life after taking a million off the top for expenses (house, car, property, lifetime clublink memership, entering the Gumball 3000). But I'd never be content settling for that. My mind needs challenging, and while I love learning new stuff (I'd be in university forever given the opportunity) I have an inherent need to have a positive impact on society. And no, donating to charity wouldn't accomplish that. |
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Post by cigarviper on Jul 25, 2008 17:22:39 GMT -5
Transportation, shoe models, bail money, in-room movies, mini-bar, and room service not included. [/i] [/quote] And you call yourself a rocker...pffft. Dinner and drinks, that's code for sex and drugs right? |
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Post by Willie Dog on Jul 25, 2008 17:31:32 GMT -5
This guy just lives outside of Ottawa and they showed a picture of him with his cheque and a Habs jersey on. It was a great sight.
I could retire no probs. We would do some travelling and my wife and I would probably end up working on Habitat for Humanity homes. I'm not very handy around my house but I think that is something that I would find very rewarding. I can see myself building homes in Southern US in the winter and in Canada in the summer.
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Post by The New Guy on Jul 25, 2008 18:44:14 GMT -5
I've heard lots of people say that. My reply to them is, don't you think you could use that money to keep yourself entertained? I figure I'd go back to school and get a degree in something interesting but absolutely useless (Latin? History? Music?) and the rest of my time traveling the world. That would keep me occupied for a long, long time. And to the people who say they'll be entertained with it, I'd say the money probably won't go as far as you'd like. I mean, I'm 24 years old. $7 million dollars would let me lead a life of fairly modest leisure for the rest of my life after taking a million off the top for expenses (house, car, property, lifetime clublink memership, entering the Gumball 3000). But I'd never be content settling for that. My mind needs challenging, and while I love learning new stuff (I'd be in university forever given the opportunity) I have an inherent need to have a positive impact on society. And no, donating to charity wouldn't accomplish that. It's all about planning. See, I figure I can get - at a minimum - 5% per annum on investments. With a principal of 6,000,000 that's 300,000 per annum. Take 25k and reinvest it (add it to the principal), another 25k for my future kids and I'm still left with $250,000 to play with. I don't need a fancy house, fancy cars or fancy rally races. I could glide by on $250,000 a year without a problem. And the next year I'd actually start with more money than 300k (301,250) to play with. Can you tell I've actually put thought into this? Everybody's got a dream - I've got a budget! |
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Post by cigarviper on Jul 25, 2008 19:17:02 GMT -5
I could make it work on two million. And I really have worked this out. You know, just in case.
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Post by CrocRob on Jul 25, 2008 20:01:36 GMT -5
And to the people who say they'll be entertained with it, I'd say the money probably won't go as far as you'd like. I mean, I'm 24 years old. $7 million dollars would let me lead a life of fairly modest leisure for the rest of my life after taking a million off the top for expenses (house, car, property, lifetime clublink memership, entering the Gumball 3000). But I'd never be content settling for that. My mind needs challenging, and while I love learning new stuff (I'd be in university forever given the opportunity) I have an inherent need to have a positive impact on society. And no, donating to charity wouldn't accomplish that. It's all about planning. See, I figure I can get - at a minimum - 5% per annum on investments. With a principal of 6,000,000 that's 300,000 per annum. Take 25k and reinvest it (add it to the principal), another 25k for my future kids and I'm still left with $250,000 to play with. I don't need a fancy house, fancy cars or fancy rally races. I could glide by on $250,000 a year without a problem. And the next year I'd actually start with more money than 300k (301,250) to play with. Can you tell I've actually put thought into this? Everybody's got a dream - I've got a budget! Oh I understand it can work, and maybe you could live a happy life that way. I'm just saying that even with a 300k income I would be bored stiff without having something to do. Besides which, I would probably end up giving most of the money to friends and family (directly or not) and the three wives that seem to riddle people with such quantities of money. |
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Post by CentreHice on Jul 25, 2008 22:33:54 GMT -5
Transportation, shoe models, bail money, in-room movies, mini-bar, and room service not included. [/i] [/quote] And you call yourself a rocker...pffft. Dinner and drinks, that's code for sex and drugs right?[/quote] I'm a rocker who's learned from other's mistakes. Rock is filled with bands who were ripped off by management, agents, and labels while they partied away. I'll pay for the rock'nroll....but not the sex and drugs.  |
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Post by Cranky on Jul 25, 2008 23:32:52 GMT -5
Holly crap, you guys think that 7 million is "dream" money??
Here is some math. Current deposit rates are 4%. Current REAL inflation is 8%. So every year, you lose 4 % of the initial capital. In 20 years, if you don't touch a sinle penny of that money, your initial 7 million is worth about...3 million. Now it you took out $100,000 a year, starting from the first year you had the money and you added 8% yearly for REAL inflation while getting 4% from the bank, guess how long the money will last? If you know the answer, then the intitial 7 million doesn't look that sexy after all.
Inflation numbers have been manipulated by our dearly beloved governments on ALL levels to look better then they are. They keep spouting off but they don't take into account creeping taxation, food and energy.
And last but not least....You know all that money you are contributing to RRSP's? If you accumulate $100,000 in 20 years, don't worry, it will be able to buy you a pair of shoes.......actually ONE shoe, the other one you will not be able to afford because your pension plan will be clawed back.
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Post by Cranky on Jul 25, 2008 23:35:20 GMT -5
It's all about planning. See, I figure I can get - at a minimum - 5% per annum on investments. With a principal of 6,000,000 that's 300,000 per annum. Take 25k and reinvest it (add it to the principal), another 25k for my future kids and I'm still left with $250,000 to play with. I don't need a fancy house, fancy cars or fancy rally races. I could glide by on $250,000 a year without a problem. And the next year I'd actually start with more money than 300k (301,250) to play with. Can you tell I've actually put thought into this? Everybody's got a dream - I've got a budget! Put some more thought into it WITH inflation and then caome back andtell me how long that money will last. |
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Post by jkr on Jul 26, 2008 7:44:37 GMT -5
It's all about planning. See, I figure I can get - at a minimum - 5% per annum on investments. With a principal of 6,000,000 that's 300,000 per annum. Take 25k and reinvest it (add it to the principal), another 25k for my future kids and I'm still left with $250,000 to play with. I don't need a fancy house, fancy cars or fancy rally races. I could glide by on $250,000 a year without a problem. And the next year I'd actually start with more money than 300k (301,250) to play with. Can you tell I've actually put thought into this? Everybody's got a dream - I've got a budget! Put some more thought into it WITH inflation and then caome back andtell me how long that money will last. You are taking a 7 million dollar win & turning it into a negative? Time to change your name again.  |
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Post by cigarviper on Jul 26, 2008 9:38:22 GMT -5
So if you had 7 million dollars you'd leave it in a savings account at the bank?
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Post by cigarviper on Jul 26, 2008 9:43:04 GMT -5
And you call yourself a rocker...pffft. Dinner and drinks, that's code for sex and drugs right? I'm a rocker who's learned from other's mistakes. Rock is filled with bands who were ripped off by management, agents, and labels while they partied away. I'll pay for the rock'nroll....but not the sex and drugs. Well as you know, if the rock 'n roll is good enough, the sex and drugs are free. This is gonna be like '69 all over again.... |
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Post by Cranky on Jul 26, 2008 10:11:50 GMT -5
Put some more thought into it WITH inflation and then caome back andtell me how long that money will last. You are taking a 7 million dollar win & turning it into a negative? Time to change your name again. That's right, I'm a professional at what I do. Normal people should not try to do what I do because it can be hazardous to ones mental state. Me, I'm immune to it because I have no mental state. Mehh.... If one wants to retire early with a middle class income, it becomes a serious question. The banks paid so little interest and REAL inflation is so large that it was a continues battle of diminishing returns. Of course one can put it into stocks.....yeah and the word "poof" comes to mind. Real estate....ridicilous low return, endless maintenance and continues taxation. A middle class retirement over a long term (30 years) is not as easy at it appears on paper. In fact, the seven million is about right. *sigh* |
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Post by MC Habber on Jul 26, 2008 13:18:59 GMT -5
You are taking a 7 million dollar win & turning it into a negative? Time to change your name again. That's right, I'm a professional at what I do. Normal people should not try to do what I do because it can be hazardous to ones mental state. Me, I'm immune to it because I have no mental state. Mehh.... If one wants to retire early with a middle class income, it becomes a serious question. The banks paid so little interest and REAL inflation is so large that it was a continues battle of diminishing returns. Of course one can put it into stocks.....yeah and the word "poof" comes to mind. Real estate....ridicilous low return, endless maintenance and continues taxation. A middle class retirement over a long term (30 years) is not as easy at it appears on paper. In fact, the seven million is about right. *sigh* I'm curious, how do you define "real" inflation? You are saying it's about 2 to 4 times what the CPI indicates. |
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Post by MC Habber on Jul 26, 2008 17:51:59 GMT -5
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Post by CentreHice on Jul 26, 2008 19:22:15 GMT -5
" ‘Whatever you put on the table, I won't go back on the ice,' I told them (the Nordiques). Ten million, 20 million, it doesn't matter. I'm 40, going on 41. I can't play the quality of hockey I like any more. If I could, and if I wanted to play again, I'd play with the Canadiens."
If they make 'em like Beliveau anymore, they're few and far between.
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Post by The New Guy on Jul 27, 2008 0:26:31 GMT -5
It's all about planning. See, I figure I can get - at a minimum - 5% per annum on investments. With a principal of 6,000,000 that's 300,000 per annum. Take 25k and reinvest it (add it to the principal), another 25k for my future kids and I'm still left with $250,000 to play with. I don't need a fancy house, fancy cars or fancy rally races. I could glide by on $250,000 a year without a problem. And the next year I'd actually start with more money than 300k (301,250) to play with. Can you tell I've actually put thought into this? Everybody's got a dream - I've got a budget! Put some more thought into it WITH inflation and then caome back andtell me how long that money will last. Well, that 5% was already taking inflation into account (it's actually probably closer to 4% - I figure a reasonable rate of return on a well managed investment portfolio is 7-8, less 2-3% inflation is 4-5% annual return). Though your 8% inflation might throw a wrench in my plans, I'd like to know your basis behind your numbers... |
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Post by Cranky on Jul 27, 2008 10:51:45 GMT -5
The core rate is biased toward items that do not really impact our daily costs. Go here, look at their weight for 1....Recreation, education and reading...12.2% 2....Alcoholic beverages and tobacco products....3.07% 3....Health and personal care (cosmetics!)....4.73% 4.....Clothing and footwear......5.36% 5....Household operations and furnishings....11.1% Together they make up more then a THIRD of the CPI on items which are from disposable income and not really equally important to everyone. A lot of those items have been dropping in price and dragging the overall CPI down with them. To take an extreme example, if I was to measure the cost of a TV at $3,000 dropping to $2,000 and my grocery bill going up from $100 to $120 then my CPI is zero...but in reality, I am paying 20% more for groceries. Furnishings are cheaper because of a strengthening dollar and China BUT the items one needs every day are much more expensive. I buy a lawn mower every ten years. Does it make any difference to me if the law mower was $300 in 2002 and $320 today? I am not a conspiracy freak but I am a "government do lie" realist. CPI is used as a population "calmer". A union negotiating an increase can not demand a 8% raise if the government statistic shows 3.1% inflation. Imagine what would happen if the governments had to pay 8% increases in old age pensions. The cumulative effect over the last several years would practically double. And the list goes on.... Lastly, salary increases push the personal taxation to a higher level. If you got an annual increase of 5% over the last 8 years then you are in another tax bracket and paying a higher percentage in taxes. That is HIDDEN from the CPI because they simply do not measure it. On the other hand, what you take home is proportionately LESS. No government worth two votes wants to measure that combination because people will get up in arms. So yes, the CPI number that we are told is intentionally flawed and biased toward the low side. If you REALLY want to really secure your future income and keep it at the current REAL rate of inflation, you need to put it at 8%. The stats are here..... www.statcan.ca/english/Subjects/Cpi/cpi-en.htmGo here to take them apart item by item.... cansim2.statcan.ca/cgi-win/cnsmcgi.pgm?Lang=E&SP_Action=Result&SP_ID=2178&SP_TYP=5&SP_Sort=1The amount of statistics StatsCanada has is just ming boggling. Thank God my mind is already boggled. |
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Post by MC Habber on Jul 27, 2008 14:03:35 GMT -5
Of course it's true that the weights in the CPI don't match up exactly with any given individual, but they represent the average Canadian. The weights you mention don't look outrageous to me. As for salary increases pushing you into a higher tax bracket, I don't see how that applies when you have $6M in the bank. So I still don't see where you get 8% from.
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Post by Skilly on Jul 27, 2008 15:31:29 GMT -5
The core rate is biased toward items that do not really impact our daily costs. Go here, look at their weight for 1....Recreation, education and reading...12.2% 2....Alcoholic beverages and tobacco products....3.07% 3....Health and personal care (cosmetics!)....4.73% 4.....Clothing and footwear......5.36% 5....Household operations and furnishings....11.1% Together they make up more then a THIRD of the CPI on items which are from disposable income and not really equally important to everyone. A lot of those items have been dropping in price and dragging the overall CPI down with them. To take an extreme example, if I was to measure the cost of a TV at $3,000 dropping to $2,000 and my grocery bill going up from $100 to $120 then my CPI is zero...but in reality, I am paying 20% more for groceries. Furnishings are cheaper because of a strengthening dollar and China BUT the items one needs every day are much more expensive. I buy a lawn mower every ten years. Does it make any difference to me if the law mower was $300 in 2002 and $320 today? I am not a conspiracy freak but I am a "government do lie" realist. CPI is used as a population "calmer". A union negotiating an increase can not demand a 8% raise if the government statistic shows 3.1% inflation. Imagine what would happen if the governments had to pay 8% increases in old age pensions. The cumulative effect over the last several years would practically double. And the list goes on.... Lastly, salary increases push the personal taxation to a higher level. If you got an annual increase of 5% over the last 8 years then you are in another tax bracket and paying a higher percentage in taxes. That is HIDDEN from the CPI because they simply do not measure it. On the other hand, what you take home is proportionately LESS. No government worth two votes wants to measure that combination because people will get up in arms. So yes, the CPI number that we are told is intentionally flawed and biased toward the low side. If you REALLY want to really secure your future income and keep it at the current REAL rate of inflation, you need to put it at 8%. The stats are here..... www.statcan.ca/english/Subjects/Cpi/cpi-en.htmGo here to take them apart item by item.... cansim2.statcan.ca/cgi-win/cnsmcgi.pgm?Lang=E&SP_Action=Result&SP_ID=2178&SP_TYP=5&SP_Sort=1The amount of statistics StatsCanada has is just ming boggling. Thank God my mind is already boggled. Governments do lie ... so why are we accepting stats from a government website? Personally, if you have 7 million and CAN NOT make it work, then you deserve to be broke. |
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Post by CentreHice on Jul 27, 2008 15:46:09 GMT -5
Personally, if you have 7 million and CAN NOT make it work, then you deserve to be broke. Assuming you (or family/friends you wish to help) don't owe a huge fraction of that in debt....then yep...I'd have to agree with you. Only reckless spending and poor financial planning would result in not being able to make it work. |
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