$2.6 million lottery winner has just ten dollars left LMAO....

[havoc]

$700/day
$21,000/month
$255,000/year
$2.6 million principle


It's 10% a year

@ that money

I bet he spend all his money on cocaine parties and expensive hookers

 

[BrothaZay]

Can someone explain to me, how he was able to make 700 dollars every day off "interest"?

 

[Fredrick Thuglas]

If you got cash on deck, but you credit score suffers from debt, pay your bills off. Understand, you need DEBT to have a higher credit score and that looks good to a lender. Understand that, you need GOOD DEBT. Don't go out and get hella cars and stuff niccas do. But you need debt, reason being is because it proves to lenders that you are responsible with paying your bills ON TIME. Get a credit card, fill up your tank monthly, pay it off. Or get some clothes, etc. that's a reason to get a credit card, to boost your score and create MINIMAL DEBT so lenders can c that u r responsible with paying bills.

Yeah, the only debt I have is a student loan. I fukked up cause I fukked up my credit with cell phones when I was in my teens. I been paid that off but since O don't have a lot of debt my credit score increases in small increments so I need to get a secured credit card to make that shyt get up for real.

Everything you said is exactly what some financial worker was telling me. This is good shyt for the coli brehs that need to get they credit score up.

 

[Sunalmighty]

Yeah, the only debt I have is a student loan. I fukked up cause I fukked up my credit with cell phones when I was in my teens. I been paid that off but since O don't have a lot of debt my credit score increases in small increments so I need to get a secured credit card to make that shyt get up for real.

Everything you said is exactly what some financial worker was telling me. This is good shyt for the coli brehs that need to get they credit score up.

Put a grand on a secure credit card, make you're payments on time and they give you that money back and raise your credit limit after about 12-18 months. Sometimes less time. No Rush, the market it ripe and will be for years

 

[HookersandIceCream]

Debt is horrible for credit . Yes paying your bills on time is extremely important but actual debt is never a good thing.


Having a high line of credit is what is important.

 

[Sunalmighty]

Debt is horrible for credit . Yes paying your bills on time is extremely important but actual debt is never a good thing.


Having a high line of credit is what is important.

Debt isn't horrible for credit, unless you cannot pay your bills. You think credit is established by making cash purchases only? Now, if you out there maxing out credit cards, doing stupid stuff, that's different. Use credit cards wisely, on filling the gas, groceries and pay it off immediately. That's the type of debt I'm talking about. Your DTI (debt to income ratio) has to be about 35% for FHA/CONVENTIONAL loans, and for Veterans it's 45% I believe. My credit score is EXCELLENT, but I wasn't in heavy debt, but I had some when I bought my first house.

 

[Sunalmighty]

Debt is horrible for credit . Yes paying your bills on time is extremely important but actual debt is never a good thing.


Having a high line of credit is what is important.

Bro that makes ABSOLUTELY NO SENSE. Won't a high line of credit CREATE DEBT??? I mean, if you are trying to avoid debt, which is obviously BAD for credit, y would a nicca open a high line of credit?

 

[QuintessentialBM]

In my opinion, the only things that should be purchased with credit are houses and cars. If only I could do it all over again. Debt is very limiting and it puts restraints on a personal financial freedom. The only debt a person should have is small re-occurring debts like utility bills for the crib and then (maybe) a manageable car and house note.

Thorough knowledge of money management should be a diamond standard in the black community.

Great thread.......

 

[Malik]

at nikkas in here saying they wouldn't quit their job if they had $2.6MM. I hate yall Coli nikkas sometimes...

That's $250,000 a year off interest. I'd be sitting in my house everyday, learning Mandarin, playing the piano and writing books. fukk work

Dude lost all his money because he's a fukking moron...I'd get a 250K house down North Carolina, a slightly used Benz, a restored Camaro and I'd be straight

 

[TrillSwag]

ok, breh. I'm not a big financial knowledge guy, but isn't a 10% interest rate into the fishy territory that Bernie Madoff was offering?

Yeah . Idk what the weirdos talking about.

 

[dora_da_destroyer]

$2.6 million is not quit your job and ball out money. It's an erase your debt and live a nice 200k lifestyle per year without working sum. Dummies

 

[dora_da_destroyer]

...

 

[Malik]

what low risk (since you plan on livng off it, it almost has to gaurantee return) investment is providing 10% in liquid interest per year?

I'm not an Investment Banker ma

That's what the lottery winner in the article was getting.

Someone got him 10% return on his winnings.

 

[Asiatic Black Hebrew]

Unbelievable. I swear people are fukking terrible with money in this country.

He will never recover from this.

He will probably hang himself or some shyt by the end of the year

No sympathy here

 

[dora_da_destroyer]

I'm not an Investment Banker ma

That's what the lottery winner in the article was getting.

Someone got him 10% return on his winnings.

yea, the article was buggin