White Shores- California United States
Member #136,471
December 12, 2012
7,039 Posts
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This question is born out of the fact that some lottery winners spent very little of their wealth- hoarding their money for who knows that. Squirreling away ones money in the hopes of extending it is in some ways foolish to many. As someone mentioned " Why hide your riches or spend very little when the dollar is meant to circulate- why play in the first place if this is what is to become of your wealth?"
So: Do you play for others, namely the family or the idea that you would spent very little of your winnings because you want to bequeath it to a charity of your choosing, thus making that your legacy?
Japan
Member #131,599
August 14, 2012
372 Posts
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So I can quit working (or rather not having to work to earn money) and family but any big jackpot win will be split 2 ways for me an siblings then from there each person takes some and adds it together to give to remaining sibling. Ofcourse from there we will help out other family members once in awhile.
California United States
Member #145,607
August 9, 2013
39 Posts
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Already semi retired with a decent check and full medical so won't go hungry. But we do own a small business which he runs and would expand it if I ever won. I also would put funds for the grands college education. Buy my mother something very nice. But I enjoy going through the numbers and trying different combo. A game sort of trying to guess what the next one would be. And it changes up to the time I actually place my numbers as today I will play one line PB with the power of 20. But I could change my mind in the next 10 minutes. Lol.
United States
Member #130,809
July 25, 2012
1,636 Posts
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Quote: Originally posted by noise-gate on Aug 14, 2013
This question is born out of the fact that some lottery winners spent very little of their wealth- hoarding their money for who knows that. Squirreling away ones money in the hopes of extending it is in some ways foolish to many. As someone mentioned " Why hide your riches or spend very little when the dollar is meant to circulate- why play in the first place if this is what is to become of your wealth?"
So: Do you play for others, namely the family or the idea that you would spent very little of your winnings because you want to bequeath it to a charity of your choosing, thus making that your legacy?
I wonder if it is more of that they are scared of losing it like in a Madoff scandal, or getting robbed by some stranger who knows you won alot of money, or just giving away too much and having the same deadbeats keep asking for more....I mean when you go from EARNING 50,000 dollars or less to WINNING millions of dollars in such a short time, you want to try and handle it with responsibility, I would imagine the average person wouldnt know where to start and that it maybe why they spend little to no money....
California United States
Member #145,607
August 9, 2013
39 Posts
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your most likely correct. I know someone that won the super lotto in the early stages in Angeles camp. he blew it in less then two years. he said people told him a million wont last as long as he thought it would and it did not. And the amazing part is except for a BMW he bought his mother and some property off from his previous property I am not sure what he did with it.
United States
Member #140,198
March 13, 2013
8 Posts
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I am playing for myself and the family. Without the family, I wouldn't be alive today. I would like to return to school for another major which would lead to a better career. I got some debts to pay off which would really ease my mind. Help my sister too and a good friend as well. We don't own a place of our own so having a house would be amazing. Could take more trips. And develop a better relationship with the gal I like.
Basically lottery would grant us ease of mind. We can focus on other things instead of living paycheck to paycheck. Giving to charity would also be part of equation.
SW Florida United States
Member #145,667
August 11, 2013
152 Posts
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Quote: Originally posted by noise-gate on Aug 14, 2013
This question is born out of the fact that some lottery winners spent very little of their wealth- hoarding their money for who knows that. Squirreling away ones money in the hopes of extending it is in some ways foolish to many. As someone mentioned " Why hide your riches or spend very little when the dollar is meant to circulate- why play in the first place if this is what is to become of your wealth?"
So: Do you play for others, namely the family or the idea that you would spent very little of your winnings because you want to bequeath it to a charity of your choosing, thus making that your legacy?
Well, "squirreling away ones money in the hopes of extending it" might not be so foolish afterall. I'd hate to run out of money in 5 or 10 years, after winning the lottery. That's probably what drives those who you say hoard their money - they worry about not having any one day, ending up like those sad cases we hear about who blow everything and end up on welfare.
There has to be a good balance between spending and providing yourself with income for as long as you live. Just like with your pension savings.
When I dream of what I'd do with my winnings, bequeathing to charities doesn't come into the scenario at all, sorry. Not that I don't believe in helping the needy but I'd rather find a way to do that myself, personally, than hand a chunk of cash to a charity which would use most of it for administration expenses. I'm not sure exactly how I'd do that, but I'd figure it out, when the time comes. I'd want to set ourselves up with a solid, conservative investment portfolio that pays us enough income to live a comfortable lifestyle that involved quite a bit of travel. I wouldn't care about buying a lot of "stuff" but then that's just me. I get more of a kick out of experiences than material possessions. And the main beneficiarites after that, would be family and close friends.
United States
Member #122,462
February 1, 2012
530 Posts
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Quote: Originally posted by noise-gate on Aug 14, 2013
This question is born out of the fact that some lottery winners spent very little of their wealth- hoarding their money for who knows that. Squirreling away ones money in the hopes of extending it is in some ways foolish to many. As someone mentioned " Why hide your riches or spend very little when the dollar is meant to circulate- why play in the first place if this is what is to become of your wealth?"
So: Do you play for others, namely the family or the idea that you would spent very little of your winnings because you want to bequeath it to a charity of your choosing, thus making that your legacy?
Hi noise-gate,
I play for my family and for myself. My dream would be to win enough money for me to retire from working. It might have been different if I had a career that I loved but most of my life I've worked in low paying jobs and it would be nice to just be able to have the time to do what I want to do with my life. One of my main reasons for playing the lottery almost 4 years ago was to be able to pay the college tuition for my daughter. I would also like to be able to help my elderly parents. I've always said that I would be happy to win any amount to be able to help my family. I realize the lottery is a long shot but there are people everyday who win something so I cling to the hope that one day maybe my luck will change (though I am realistic enough to know that I will be working till I die, lol).
United States
Member #116,263
September 7, 2011
20,243 Posts
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Quote: Originally posted by noise-gate on Aug 14, 2013
This question is born out of the fact that some lottery winners spent very little of their wealth- hoarding their money for who knows that. Squirreling away ones money in the hopes of extending it is in some ways foolish to many. As someone mentioned " Why hide your riches or spend very little when the dollar is meant to circulate- why play in the first place if this is what is to become of your wealth?"
So: Do you play for others, namely the family or the idea that you would spent very little of your winnings because you want to bequeath it to a charity of your choosing, thus making that your legacy?
Hi noise-gate,
I play to give half to my favorite charity while at the lottery office. After that I will spend the rest.
Oklahoma United States
Member #82,389
November 12, 2009
6,374 Posts
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I play for myself as well as my family and friends. There are a lot of good charities I would like to help as well. I truly believe that God blesses us in on order to bless(help) others.