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$2.7 million lottery winner down to his last $10

After the Big WinAfter the Big Win: $2.7 million lottery winner down to his last $10
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Dad-of-two Roger Griffiths, 42, used to drive a Porsche and vacation with the super-rich in New York and Monaco.

He and wife Lara lived in a £670,000 home, sent their children to a £10,000-a-year private school and plotted to double their wealth through property and stock market investments.

Roger also splurged on a fleet of fancy cars and luxuries like tailor-made suits and Cartier diamond jewellery.

He even blew £25,000 making a record after getting his old student band back together. They sold just 600 CDs.

Roger said: "I loved being rich. There were times when I didn't look at price tags and that was ludicrous, stupid — but I loved it."

Roger and Lara flew to Dubai, Florida and Majorca in the months after his win.

They bought champagne by the case and partied with celebs like Take That as they enjoyed the millionaire lifestyle.

But their fortune was wiped out by a failed business venture — and the global financial crisis of 2007. Their 14-year marriage collapsed because of rows about money and the business was sold at a loss.

Roger, who once earned £340 a day in interest, now has just £7 in the bank.

He said: "I had it all, but now it's gone. I've been borrowing money from my parents — that's how bad it is.

"I feel ashamed to say this but I haven't been smart enough. I thought I was bright — degree-educated, pretty astute. I thought I could make it work for me and I failed.

"I'm trying desperately to keep the wolf from my door but I'm running out of ideas."

Roger had quit his IT manager's job after scooping £1,831,492 (US$2,784,104) in 2005. He and Lara spent £200,000 buying and renovating a beauty salon to provide a steady income.

But their Lotto dream turned into a nightmare after the crisis of 2007 halved the value of their investments.

The housing market also collapsed and the beauty salon began losing £4,000 a month.

Roger and Lara had borrowed against the value of their home to set up the salon, and felt they had no choice but to keep "pumping money into the business".

They withdrew £100,000 from their remaining investments to stay afloat, but saw it swallowed up by bills.

Roger said: "We had vowed never to drop below £1 million, but we were just living off the lottery money.

"There was no adding to it, no protecting it. We weren't getting £340 a day interest and the investments had vanished.

"We were hemorrhaging money. It was awful. There was nothing to plug the dam.

"And once you have tasted that life of a millionaire it's difficult to step back. The pressure on us was enormous."

In December 2010 the couple's home went up in flames, destroying possessions worth £120,000, and a few months later their marriage was over. Lara, 43, stayed in the marital home while Roger moved into a two-bedroom house in Harrogate, North Yorks, that he bought as an investment.

The house is almost empty after Roger sold off most of his possessions to make ends meet. He said: "I walk around the house sometimes wondering, 'How did it come to this?' To a certain extent I have only myself to blame, but I also feel cheated by the financial crisis. My luck stopped when I won the lottery.

"I loved every minute of it but it also put massive pressure on me. I thought I was clever enough to make something bigger happen from it."

Roger now works as a self-employed recruitment consultant, but admits: "The money I bring in goes on bills I racked up during the heyday and there's just not enough to cover them. If it wasn't for my family helping me financially I'd be in trouble. Looking back the lottery win was like a poisoned chalice."

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61 comments. Last comment 2 years ago by Ronnie316.
Page 1 of 5
Lucky4Life's avatar - batman14

United States
Member #85038
January 7, 2010
190 Posts
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Posted: March 25, 2013, 8:52 am - IP Logged

less than 3 million.  Not that much to be jetting around the world.  Very poor decisions.  very sad story.

    helpmewin's avatar - dandy
    u$a
    United States
    Member #106669
    February 22, 2011
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    Posted: March 25, 2013, 9:02 am - IP Logged

    Wow i don't know what to say about this storyNo Nod

                     

      dallascowboyfan's avatar - tiana the-princess-and-the-frog.jpg
      Oklahoma
      United States
      Member #82391
      November 12, 2009
      5412 Posts
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      Posted: March 25, 2013, 9:42 am - IP Logged

      After I read stories like this I think of that young lady on LCML that married her boyfriend that was in the Navy. After realizing she had won she called her parents and her dad advised her that she needed to speak to a financial adviser who was a family friend. If you win the jackpot please seek some kind of advice so you won't be another statistic.

      I Love Pink & Green 1908

        noise-gate's avatar - images q=tbn:ANd9GcR91HDs4UJhjxO7cmeMQWZ5lB_FOcMLOGicau4V74R45tDgPWrr
        Bay Area/ California
        United States
        Member #136482
        December 12, 2012
        2062 Posts
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        Posted: March 25, 2013, 9:52 am - IP Logged

        less than 3 million.  Not that much to be jetting around the world.  Very poor decisions.  very sad story.

        Oh Yeah, big time lesson. l would hate to read of someone we " know" in this forum who had come into wealth and blew it all.

        First lesson: Tell no one, second: get your head out your a*** and think CLEARLY before making any decisions that could have lasting financial ruin implications.


          United States
          Member #116272
          September 7, 2011
          20244 Posts
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          Posted: March 25, 2013, 9:53 am - IP Logged

          Wow i don't know what to say about this storyNo Nod

          Perhaps he can go ask for his old job back?


            United States
            Member #116272
            September 7, 2011
            20244 Posts
            Offline
            Posted: March 25, 2013, 9:55 am - IP Logged

            Oh Yeah, big time lesson. l would hate to read of someone we " know" in this forum who had come into wealth and blew it all.

            First lesson: Tell no one, second: get your head out your a*** and think CLEARLY before making any decisions that could have lasting financial ruin implications.

            Im sure there is at least one, and maybe two here. Yes Nod

              noise-gate's avatar - images q=tbn:ANd9GcR91HDs4UJhjxO7cmeMQWZ5lB_FOcMLOGicau4V74R45tDgPWrr
              Bay Area/ California
              United States
              Member #136482
              December 12, 2012
              2062 Posts
              Offline
              Posted: March 25, 2013, 9:56 am - IP Logged

              Im sure there is at least one, and maybe two here. Yes Nod

              Oh Ronnie, pointing a finger are we?Hit With Stick


                United States
                Member #116272
                September 7, 2011
                20244 Posts
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                Posted: March 25, 2013, 10:02 am - IP Logged

                Oh Ronnie, pointing a finger are we?Hit With Stick

                LOL People go broke all the time, its part of life for most of us.


                  United States
                  Member #116272
                  September 7, 2011
                  20244 Posts
                  Offline
                  Posted: March 25, 2013, 10:47 am - IP Logged

                  Oh Yeah, big time lesson. l would hate to read of someone we " know" in this forum who had come into wealth and blew it all.

                  First lesson: Tell no one, second: get your head out your a*** and think CLEARLY before making any decisions that could have lasting financial ruin implications.

                  Easier said than done Original Post by  noise-gate

                    savagegoose's avatar - ProfilePho
                    adelaide sa
                    Australia
                    Member #37136
                    April 11, 2006
                    2793 Posts
                    Offline
                    Posted: March 25, 2013, 10:51 am - IP Logged

                    £350 a day in interest!  wow thats like $3k USD a week.  work that out to a year. its not that great. $160k a year.

                    2014 winnings

                    JAN -$48.50;  FEB  -$77.5; MAR -$18.05;  APR -$96.05 MAY -$61.10; JUN $-85; JUL $-88.90; AUG -$144.10;  SEP - $127.30;

                    yearly grandtotal1181.2      won=375.15   profit=-$806.05

                      United States
                      Member #116272
                      September 7, 2011
                      20244 Posts
                      Offline
                      Posted: March 25, 2013, 10:57 am - IP Logged

                      £350 a day in interest!  wow thats like $3k USD a week.  work that out to a year. its not that great. $160k a year.

                      That's quite a bit more than most people make in a pay check.

                        savagegoose's avatar - ProfilePho
                        adelaide sa
                        Australia
                        Member #37136
                        April 11, 2006
                        2793 Posts
                        Offline
                        Posted: March 25, 2013, 11:02 am - IP Logged

                        That's quite a bit more than most people make in a pay check.

                        yeah its not a lot for  porches,  cases of champaign and exotic holidays. dont forget taxes.

                        2014 winnings

                        JAN -$48.50;  FEB  -$77.5; MAR -$18.05;  APR -$96.05 MAY -$61.10; JUN $-85; JUL $-88.90; AUG -$144.10;  SEP - $127.30;

                        yearly grandtotal1181.2      won=375.15   profit=-$806.05
                          buttercake's avatar - Lottery-029.jpg

                          United Kingdom
                          Member #70550
                          February 5, 2009
                          120 Posts
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                          Posted: March 25, 2013, 11:03 am - IP Logged

                          This guy and his wife only have themselves to blame for their stupidity, they were living like multi millionaires when in reality £1.8m doesn't get you far in the UK, you can't retire on £1.8m, looking at the present photo of the wife guess she spent most of the winnings on plastic surgery as she looks a right mess now.

                          I remembered seeing them on a tv show and the wife rejected every property that was shown to them, they were also featured on the national lottery website many years ago, and the wife once again acted suck up, like yes we are loaded, yes we can afford and do whatever we want,  from that video I did think they may not have a penny to their names in a few years time, now that is true.


                            United States
                            Member #116272
                            September 7, 2011
                            20244 Posts
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                            Posted: March 25, 2013, 11:10 am - IP Logged

                            This guy and his wife only have themselves to blame for their stupidity, they were living like multi millionaires when in reality £1.8m doesn't get you far in the UK, you can't retire on £1.8m, looking at the present photo of the wife guess she spent most of the winnings on plastic surgery as she looks a right mess now.

                            I remembered seeing them on a tv show and the wife rejected every property that was shown to them, they were also featured on the national lottery website many years ago, and the wife once again acted suck up, like yes we are loaded, yes we can afford and do whatever we want,  from that video I did think they may not have a penny to their names in a few years time, now that is true.

                            They were definitely NOT the "scummy" wallstreet type who understands HOW to manage their money.