A couple of the Q & As on the latest episode was that 33% of jackpot winners are broke within five years of winning and the most common things money is spent on after winning a jackpot is paying off mortgages and travel. I thought it was going to be cars as it seems these programs always show people and their newly purchased dram cars.

Also, a woman in Oregon who won $5,000,000 had to move twice, to completely different towns, because of being harassed and having things stolen. She wound up in Portland, going to a more populated place for a lower profile.

Everybody saying they wouldn't stay anonymous (different thread) needs to watch these programs.

 I know with my luck I'd probably end up having to moving @ least 3-4 different times cause of the related BS .....

Solution? Move into an area where you wouldn't stick out like a sore thumb if you decide to be flashy.

How much you want to bet much of that travel included trips to Las Vegas?

Those programs are getting depressing they are showing how stupid some people are with spending money.  I can't believe that half the winners say the wish that they hadn't won the lottery!!  Note:  Most of them were from California....???

I would like to see more like the sisters in Louisana and our Texas girl.  They were sure happy to win.  And really appricated the lotterys.

Joey

Hmmm, looks like the schedule has changed.... Because they're not showing that episode that was said to air tonight now...

Lottery Changed My Life - Wiccan Millionaire     TLC          Sat, Aug 22 5:00pm     
     Lottery Changed My Life - Doorman Millionaire     TLC          Sat, Aug 22 6:00pm     
     Lottery Changed My Life - Millionaire Bachelor     TLC          Sat, Aug 22 7:00pm     
     Lottery Changed My Life - Millionaire Bachelor     TLC          Sun, Aug 23 2:00am     
     Lottery Changed My Life - Tee Pee Millionaires  TLC          Wed, Aug 26 8:00pm     NEW
     Lottery Changed My Life - Tee Pee Millionaires     TLC          Wed, Aug 26 11:00pm     
     Lottery Changed My Life - Janitor Millionaire   TLC          Wed, Sep 2 8:00pm                NEW
     Lottery Changed My Life - Janitor Millionaire     TLC          Wed, Sep 2 11:00pm

Just checked TLC's site and yeah it did change, the one that was supposed to air tonight aired yesterday.

http://tlc.discovery.com/tv-schedules/series.html?paid=2.15575.56091.37805.3

I meant to update the schedule.  The series has been moved to Wednesday nights.  Last night's was interesting, particularly the guy who only won 3.7 million and invested more than half of it in some restaurant/hotel venture with another guy.  The partner mortgaged it against another investment and they lost the whole thing. 

I have to ask again:  why why why would you not hire a lawyer and investment advisor when you win the lottery?

i missed a other one lol!,

o will, i catch the 2 i missed come 22th,

also am glad they GOT RID of the break they was going to take, and now just keep showing the new shows ever week,

so it seems we keep getting new lotto shows to the end of sep?

then what, its done for this year, whatever it is, am jsut glad we getting all the new shows sooner,

but based on what McDude said about debt and losing it all

ya, i have a general rule of thumb about investing money in any kind of debt, Dont do it EVER

INVESTING if i had millions to spare

don't ever invest in a company with debt

take microsoft, they have billions of cash just LAYING AROUND, what little debt they may have can be paid in a blink of eye

companys with lots of debt are a lot like humans with gaint debts,   its setting them selfs up for failer

this world knows no ends to its debt is a insane idea, , their investing, getting money to make some thing great, or their spending money, what must people label investments by their own stupid brains

guest what that house payment is, it was spending money, it was never a investment, debt never will be a investment, look at what debt made the world of money it is today, ruins,

their no big govt to bail out you in your debts,  thats a double standred the govt goes by, you <snip> up, you pay for it, if "companys to big to fail" then fail, they come and save the day,

if they didn't save the day,  more people would get the turth, that debt labeled investments, is not only a bad idea, its down right CRAZY,= i hate people who waste money then label it investments, then have it fail on them, and them all acting shocked, saying it was investmants, no it was not, it was debt

Anonyomous?  Come on!  In this current economy, the minute you roll up to your current domicile with anything other than your usual hooptie, the neighbors tongues are gonna' wag.   You also will have a hard time being subtle, I don't know bout' ya'll, but I'm gonna' retire, quick as possible.  Move too, yep, cuz' people will be beggin' and buggin', that's just human nature, only worse because of the recession, errr, depression goin' on now.

I just hope I won't get dat lotto fever, neva' had any sympathy for those who blew big money, but from what I've seen, its easy to do, big gamble, big losses, more money, more problems.

Lemme' try, and good luck to ya'll too!

Rolls Royce Ron, Texas (positive thinking!)

It's not close to being a depression overall yet (except maybe in Michigan where the state has been swirling around in the bowl for years) though at the rate things are going it still could get there, a depression is an economic downturn that last several years..

Anyway, I missed the first one because I forgot, hahaha. Oh and yeah, how foolish of someone to take anyone at their word these days, especially when it comes to business and money. Also I wonder how much in taxes that guy who "still has 30 million" has to pay every year in taxes on all the property he owns. I see him starting to sell it off soon with his payments running out unless he still has a lot liquid assets.

And yet she went on national television and told people where she lived, what she looked like and that she won the lottery. I didnt get that one.

Apparently there are US versions of the show and 'international' versions.  The international versions are longer and more in depth.

> I have to ask again:  why why why would you not hire a lawyer and investment advisor when you win the lottery?

Madoff has nothing to do now....

He would "take care of it for you"....

Don't worry!  :-)

MarkP

why would you not hire a lawyer and investment advisor when you win the lottery?

i tell you why, cease you can't fix stupid,

its ever where you look, says the same thing

such as the people in fact of DC think you can in fact help stupid people

bail outs of stupid people, is stupid in and of it self,

i say its great these lotto winners get burned and put on tv,, maybe their a chance, just 1 person who does ever win big, will notice the  stories of past big lotto winners,

and will save them the trouble of knowing What Not to do

There was a story here in Wis where a somebody Won like 5 Mil $$$$  ge trusted it to a BIG brokerage firm,  and they lost his money. He ended up suing them. I don't know the result of that story though. I would guess, like a DR and you trust somebody with your money, you might need a second opinion. And a 3rd. And watch it yourself. And get VERY informed yourself...

MarkP

I think I know what story you're talking about, I wrote a post several months ago that was basically referring to it in the story about Alex Toth, it's the story of Andrew Cicero. There's a bit more to it to than that, I couldn't find the story on LP so here's a link to the story. http://www.jsonline.com/news/waukesha/29420174.html

Of course you can't completely trust your advisers either, I mean you can't just let them have free reign over your assets while you "retire" and don't have a hand in the managing of things to see where all the money is going, you need to take an active role and be the one who makes the real, final decisions with YOUR money, that's why they're advisers not partners you're supposed to listen to their advise and come up with a decision which should be done after doing your own research, not just blindly follow what they say, same goes for anyone else that is working for you to manage your assets. Even with good intentions these people aren't infallible and just because it's their job it doesn't mean they're not immune to stupidity and you never go all, half or even a quarter in into a single, potentially risky investment no matter how much of a "sure thing" it might be.

You have to educate yourself to the point where you can get a good handle on things and not be completely clueless as to what's going on, you need to be constantly learning. That's what a lot of these people don't seem to do. They think for some reason they could get away with not paying Uncle Sam his share to squander. It's hard to fathom how so many people don't even consider the taxes they're going to have or think that the initial tax taken initially is all they'll have to pay. A lot of us think five, ten million dollars (lump sum or annuity) is a lot of money and to 98% of us, it is. It's probably more than we'll ever see but you'll find out that it won't last forever if you're foolish with it. There's no such thing as an infinite amount of money, you're not the federal reserve, you can't just print more money, which is isn't a good thing either, but that's another issue that's really far off topic. Then of course, there's the excessive gambling....

Okay, I'm half rambling about another story I just read from just over a year ago about a 1995 Wisconsin winner (Andrew Cicero) of 5.5M that went broke and is or was suing blaming advisers from an investment firm. From the story they apparently invested nearly everything in stocks, just before the tech bubble burst, which as his lawyer said, was breathtakingly irresponsible. Of course Mr. Cicero also apparently thought it "smart" to sell what was left of his annuity without any consideration of the taxes he'd incur.

I know we're all armchair quarterbacks since we haven't been in this situation, but I'd like to think most of us have learned from these stories as to what NOT to do...

http://www.lotterypost.com/news/174058