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The RideMonkey Tontine

DirtMcGirk

<b>WAY</b> Dumber than N8 (to the power of ten alm
Feb 21, 2008
6,379
1
Oz
I think we need to set up a RM tontine. I am thinking a $100 buy in, we put the money into a corporate account, and leave very specific instructions with the bank to release the funds.

Anyone want in?
 

DirtMcGirk

<b>WAY</b> Dumber than N8 (to the power of ten alm
Feb 21, 2008
6,379
1
Oz
Was watching Archer on the DVR, but that's beside the point.
 

DirtMcGirk

<b>WAY</b> Dumber than N8 (to the power of ten alm
Feb 21, 2008
6,379
1
Oz
TONTINE: An annuity scheme in which subscribers share a common fund with the benefit of survivorship, the survivors' shares being increased as the subscribers die, until the whole goes to the last survivor.

It goes like this:
1. We put the money in an account.
2. As we die off/do dumb things, the number of people dividing the pot gets smaller, hence the share increases.
3. When a predetermined number of survivors is left, i.e. one, you divide it by that number, and if you make it that long, profit.
 

CrabJoe StretchPants

Reincarnated Crab Walking Head Spinning Bruce Dick
Nov 30, 2003
14,163
2,484
Groton, MA
I'd rather get rich the old fashioned American way and sue someone. Must faster payoff that way.

With 8 and 9 years olds on here like nubby I don't stand a chance.
 

DirtMcGirk

<b>WAY</b> Dumber than N8 (to the power of ten alm
Feb 21, 2008
6,379
1
Oz
As someone who might sue people for a living, let me tell you, its not as easy as it used to be. Recession has made it beaucoup hard to get a judge or jury to find in favor of a plaintiff. The Tontine is a better bet.