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Lottery winner goes from rags to riches to rags
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Topic locked. Last post more than one year ago by . 62 comments.
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United States Member #3066 December 12, 2003 2020 Posts Offline |
| Posted: August 22, 2007, 7:56 pm - IP Logged |
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In memory of Cash Only... If I win the $40 million Florida Lotto jackpot tonight, I'll probably take the annuity. I used to think it was better to take the money & run, and still wonder about it. However, knowing every year that, no matter how badly you screw up your life, you'll still be getting a big check soon must be a very comforting feeling. did something happen to Cash Only??
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Madisonville Kentucky United States Member #3826 February 18, 2004 21 Posts Offline |
| Posted: August 22, 2007, 8:08 pm - IP Logged |
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Truly a sad story! But after Big Jack's story I saw this coming! I hope to win soon so I can set Kentucky's rep straight! This little ol'e "trailer trash" is gonna buy a double wide!
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A Craps Player & Poet Dover, Delaware United States Member #19109 July 20, 2005 576 Posts Offline |
| Posted: August 22, 2007, 9:44 pm - IP Logged |
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"If he followed my advice," says James Gibbs, his former financial adviser, "he'd be pulling in about $85,000 a month for the rest of his life." I could darn well live very very nicely on that kind of monthly income! Yes, at first I would spend some serious cash on a few things, but for the most part, I'd be trying to grow my cash holdings to something more substantial (without to much risk). Keep dreaming the impossible dream, it just may come true! Please remember to support Your Lottery Post Community. 
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New Jersey United States Member #18150 June 28, 2005 11974 Posts Offline |
| Posted: August 22, 2007, 10:11 pm - IP Logged |
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Winning the lottery is no guarantee that you won't have financial problems later in life. A mind once stretched by a new idea never returns to its original dimensions!
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Sunny SW Florida United States Member #25708 November 5, 2005 4070 Posts Offline |
| Posted: August 22, 2007, 10:12 pm - IP Logged |
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did something happen to Cash Only?? Sorry - I just meant that he seems to have dropped out of here (or was thrown out) That's all. I think of him/her when I post anything about annual payments. Truly a sad story! But after Big Jack's story I saw this coming! I hope to win soon so I can set Kentucky's rep straight! This little ol'e "trailer trash" is gonna buy a double wide! I hear ya! I was thinking about that too .... on several acres overlooking the mountains of course. I lived in a singlewide for many years, so a nice doublewide would be fine. I wouldn't buy one in Florida unless I want to end up with Dorothy & Toto in Kansas. Even if you are completely joking, I think it would be a nice start to just get away for a while.
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Denver, CO United States Member #13716 April 6, 2005 68 Posts Offline |
| Posted: August 22, 2007, 10:39 pm - IP Logged |
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Such a sad story. He had the potential to really help people & to provide for his future & the future of his child. Ladyluck2005
Carpe Diem
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Illinois United States Member #30849 January 17, 2006 3491 Posts Offline |
| Posted: August 22, 2007, 11:38 pm - IP Logged |
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In memory of Cash Only... If I win the $40 million Florida Lotto jackpot tonight, I'll probably take the annuity. I used to think it was better to take the money & run, and still wonder about it. However, knowing every year that, no matter how badly you screw up your life, you'll still be getting a big check soon must be a very comforting feeling. You definitley have a point. I don't think there's been any horror stories of this intensity about annuity winners. I say "of this intensity" because I'm sure some annuity winners have wound up selling their annuities for much less to collect a lump sum from one of those companies that do that. It's Lotto, not horseshoes or artillery!
close doesn't count! I sell everything at a loss but make up for it in volume
- Milo Minderbinder, Catch-22
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kent, washington United States Member #3576 January 26, 2004 323 Posts Offline |
| Posted: August 23, 2007, 1:17 am - IP Logged |
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Arizona United States Member #53277 June 10, 2007 61 Posts Offline |
| Posted: August 23, 2007, 1:29 am - IP Logged |
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I am reminded of a quote from the movie, "Wallstreet", where Gordon Gekko says, "A fool and his money are lucky enough to get together in the first place." But this story is living proof that a fool and his money are soon seperated! Money can't buy you happiness, but I sure could afford the misery that it brings! 
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NY United States Member #24178 October 16, 2005 1379 Posts Offline |
| Posted: August 23, 2007, 1:31 am - IP Logged |
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You definitley have a point. I don't think there's been any horror stories of this intensity about annuity winners. I say "of this intensity" because I'm sure some annuity winners have wound up selling their annuities for much less to collect a lump sum from one of those companies that do that. This story is worse than most because he and his girlfriend/wife were both serious druggies, but plenty of other people have followed a similar path. I don't think he spent it on drugs, but one of NY's first lotto winners had no choice but the annuity and easily squandered it as fast or faster than is rolled in. You can read about it here:http://weeklywire.com/ww/08-23-99/nash_cover.html
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