Welcome Guest
Log In | Register )
You last visited December 4, 2016, 3:06 am
All times shown are
Eastern Time (GMT-5:00)

Unemployed N.Y. Man Wins $14 Million Lottery

Topic closed. 27 replies. Last post 9 years ago by mpat69.

Page 2 of 2
2.52
PrintE-mailLink
psykomo's avatar - animal shark.jpg

United States
Member #4877
May 30, 2004
5114 Posts
Offline
Posted: April 22, 2008, 7:41 pm - IP Logged

Just in time- I'd say.

YES>>yes>>>>>>>SENIOR P:

YOU have TIME to move to FLORDIA or any country U-wish>>before

the GREAT CONTEST>>>>>>>>>>>take's PLACE>>>>>>>>>BUTT

vote for O'BAMA>>>>>>>>>>>>>>TAKE CHANGE>in UR LIFE$$$$$

HELP AMERICA>>>>>>>>>>>>>>>PLEASE HELP the POOR people

vote for a DEMOCRAT>>>>>>>PLEASE>>>PLEASE!

LOL

PSYKOMO

    dphillips's avatar - littleuns
    Albuquerque, New Mexico
    United States
    Member #5128
    June 18, 2004
    377 Posts
    Offline
    Posted: April 22, 2008, 7:52 pm - IP Logged

    And then...there are the lucky --  and there are the damn lucky!  Imagine, being out of work, spending some of your tax refund, and hitting the jackpot. Life doesn't get any better than that, does it?

    See Ya!-- Bye, bye!  When you win, may you glow as brightly as theSun Smiley

      GamerMom's avatar - tails

      United States
      Member #60535
      April 21, 2008
      460 Posts
      Offline
      Posted: April 22, 2008, 8:50 pm - IP Logged

      Remember, he is a resident of NY State.  Their scartch-off tags are always annuity.  So, unless you are amongst the rarist people in the universe, you loose 50% by choosing cash (liump sum). Blink, and the $14M became $7M.  Then come the tax people.  There is 6.85% for the state, gone with the second blink.  Then the feds, who will grab around 38-42% with another blink.  When you look at the shiny lure, you blink, and every time you blink, your win drops.  If he is lucky, the city, county, or other muncipality won't get more.

      This is why a lot of lottery winners go broke.  They lose track of what they really win.  All those rich people, the Liberals love to tax, and tax, and tax, becomes a lottery winner biggest nightmare.  Go out and buy that luxury house, pay a huge tax. Go out and buy a couple of those luxury cars, pay a huge tax. Give your family members a couple hundred thousand, money gone forever.  Even if you donate a tone of money, that specific ton of money is also gone forever.  Next thing you know, that $5M is colleteral for a loan. 

      Based on his credit card debt, he has zero idea of how to manage his money.  Hopefully, he will find a certified financial adviser - and L-I-S-T-E-N to that person.  If not, he'll soon be on the internet as a man who lost $14M; when he NEVER had $14M to start with!

      I thing the last part of your post is unfair.  He did just lose his job.  He may have had to go into credit card debt to feed his family.  :( 

       

      Correct me if i'm wrong but I think the article also said he had an advisor and lawyer teamed up already. Sounds like he has a decent head on his shoulders.  The only thing I would have done differently would have been to take an annuity.

        Piaceri's avatar - sarsony1
        Republic of Texas
        United States
        Member #57557
        January 9, 2008
        1095 Posts
        Offline
        Posted: April 22, 2008, 9:34 pm - IP Logged

         Congrats to the guy.  It is heartwarming to hear him say he would take care of those who helped him when he needed it most - his mother and mother-in-law.  Here's wishes that he handles his winnings with intelligent decisions.

        GamerMom - just curious, why would you have optioned the annuity?  Just in this instance, or is it your preference?

        face

        singlewinnersinglewinnersinglewinner   

          TheGameGrl's avatar - character catafly.jpg
          A long and winding road
          United States
          Member #17084
          June 10, 2005
          4523 Posts
          Offline
          Posted: April 22, 2008, 9:35 pm - IP Logged

          Thank you gamermom for your commentary. The previous poster made an overgeneralized *ASSUMPTION* based on one part of the mans finance. Heaven forbid if that guy saw some of my finance. If I said I am 60k in debt most would shutter, yet maybe its from a mortgage, a car payment and a hospital bill for an ailing relative . ....all which get paid monthly as agreed ...yet its still a debt none the less....

          ANyways the guy DOES have his head on right by saying he is helping those that helped him during his rough time. Bravo for him and I hope he enjoys his new found wealth! Ohh and congrats to the NY lottery for taking their chunk too! I'm sure they like being partnered with winners....

          ~~Is it true, Is it kind,Is it necessary. ~~~

           Thanks be to the giving numbers: 1621,912,119 02014

            GamerMom's avatar - tails

            United States
            Member #60535
            April 21, 2008
            460 Posts
            Offline
            Posted: April 22, 2008, 9:38 pm - IP Logged

            No, I think i would take the annuity for a piece of mind for long term security after I quit my job.  I have a congenital heart defect, something called Tetrology of Fallot, and I don't think anyone would ever sell me medical coverage here in these United States where we are sooo lucky to not have universal medical care.  I would need to ensure that I have money coming in for a long time in case i ever needed a heart valve or other major heart surgery.

             

            Would you pick the lump sum and why? I'm always curious to hear another's POV on the subject :)

              Avatar
              New Jersey
              United States
              Member #21206
              September 4, 2005
              949 Posts
              Offline
              Posted: April 22, 2008, 10:07 pm - IP Logged

              Remember, he is a resident of NY State.  Their scartch-off tags are always annuity.  So, unless you are amongst the rarist people in the universe, you loose 50% by choosing cash (liump sum). Blink, and the $14M became $7M.  Then come the tax people.  There is 6.85% for the state, gone with the second blink.  Then the feds, who will grab around 38-42% with another blink.  When you look at the shiny lure, you blink, and every time you blink, your win drops.  If he is lucky, the city, county, or other muncipality won't get more.

              This is why a lot of lottery winners go broke.  They lose track of what they really win.  All those rich people, the Liberals love to tax, and tax, and tax, becomes a lottery winner biggest nightmare.  Go out and buy that luxury house, pay a huge tax. Go out and buy a couple of those luxury cars, pay a huge tax. Give your family members a couple hundred thousand, money gone forever.  Even if you donate a tone of money, that specific ton of money is also gone forever.  Next thing you know, that $5M is colleteral for a loan. 

              Based on his credit card debt, he has zero idea of how to manage his money.  Hopefully, he will find a certified financial adviser - and L-I-S-T-E-N to that person.  If not, he'll soon be on the internet as a man who lost $14M; when he NEVER had $14M to start with!

              Well, if you're disturbed by taxes, you are perfectly free to move to the Congo, or Dafur, or Bosnia or Iraq.

              I assure yoiu that evil "liberals" will not be able to collect taxes in those places.

              Speaking of fools, suppose you were to win the lottery in your smug way, and then find that you are living in a country with no infrastructure. 

              It would seem to me given that conservative rule just piles up debt and debt and debt, causing the value of the dollar to fall by half, that conservatives are pretty good at squandering fortunes.    They have taken the richest country in the world and made it into the world's most incredible debtor.   In fact, if you won the lottery - which you won't - you would find that the value of your winnings would be reduced by half simply because of the dopey policies of a very, very, very, very, very short sighted credit card fixated President of the United States.

              But it's not all a loss.   Look what we got for it:  Iraq.

              I don't think they pay taxes there either.   You are invited to go at any time.

                Piaceri's avatar - sarsony1
                Republic of Texas
                United States
                Member #57557
                January 9, 2008
                1095 Posts
                Offline
                Posted: April 22, 2008, 10:11 pm - IP Logged

                Oh, sorry to hear about the heart problems GamerMom.  My sister is a heart nurse in Dallas, or was - she's out of patient care and works in quality control.  The heart is not something to take lightly.  Good plan on your part.

                 

                For me, I don't have any such long term problems that would weigh one way or the other for my decision.  I've kind of looked at both options, and I find that my investment guru could probably make as much annually on average with the lump sum as the annuity payments - even after you take the discounted jackpot and hand over gobs of it to both the state and the feds.   All this is based upon what he has done for me so far - 1st quarter of 08 excluded although I fared better than others I know.

                face

                singlewinnersinglewinnersinglewinner   

                  Piaceri's avatar - sarsony1
                  Republic of Texas
                  United States
                  Member #57557
                  January 9, 2008
                  1095 Posts
                  Offline
                  Posted: April 22, 2008, 10:22 pm - IP Logged

                  Well, if you're disturbed by taxes, you are perfectly free to move to the Congo, or Dafur, or Bosnia or Iraq.

                  I assure yoiu that evil "liberals" will not be able to collect taxes in those places.

                  Speaking of fools, suppose you were to win the lottery in your smug way, and then find that you are living in a country with no infrastructure. 

                  It would seem to me given that conservative rule just piles up debt and debt and debt, causing the value of the dollar to fall by half, that conservatives are pretty good at squandering fortunes.    They have taken the richest country in the world and made it into the world's most incredible debtor.   In fact, if you won the lottery - which you won't - you would find that the value of your winnings would be reduced by half simply because of the dopey policies of a very, very, very, very, very short sighted credit card fixated President of the United States.

                  But it's not all a loss.   Look what we got for it:  Iraq.

                  I don't think they pay taxes there either.   You are invited to go at any time.

                  Oh dear - it's all Bush's fault.  Yep - he made all those people buy too much house at subprime rates and forced them to take out multiple credit cards and charge them all up.   But the Democrats will come to the rescue, increasing taxes for the evil rich families who make more than $250k.  The Democrats will tax them until they have to lay off the families they employ in order to pay their taxes so that the government can take care of all of us.  That'll work.

                  ....Cuz the Obama Man can....oops, I mean the Candy Man can, cuz he mixes it with love and makes the world taste good....

                   

                  Evil liberals, evil conservatives, evil rich white man, etc.  Let's just keep dividing this great country until we all forget the truths behind the phrase "united we stand, divided we fall".

                   

                  Enough politics.

                  face

                  singlewinnersinglewinnersinglewinner   

                    dingo's avatar - lottery of-birth.jpg
                    San Jose, California
                    United States
                    Member #42003
                    June 26, 2006
                    206 Posts
                    Offline
                    Posted: April 23, 2008, 12:50 am - IP Logged

                    Somtimes, I wonder. Is it because somebody out there that desperately need win lottery more than do? I that's why they win. Keep thinking of this idea makes me happy.

                    God is the Champion of using JIT System (just in time).

                     

                    I'm so happy for these people.

                      DC81's avatar - batman39
                      MI
                      United States
                      Member #54830
                      August 31, 2007
                      985 Posts
                      Offline
                      Posted: April 23, 2008, 3:56 am - IP Logged

                      I dunno about that considering how things turn out for a lot of winners such as David Edwards for an extreme example. Then there's always our good friend Jack Whitaker who was already a millionaire when he won the biggest US lottery (at the time) in history and recently nearly won again but "only" got the $10,000 prize. The thing that kind of bugs me about that is his story on how the lottery "ruined his life" or however it went, yet he still plays and nearly won another jackpot. I wonder if he donated it though he probably actually needs the money these days. It's just luck and some people just have it not matter what kind of person they are and some have their lucky moment and then follow through total ignorance (maybe arrogance too) and flat out stupidity.

                       

                      It seems like for every one Brad Duke (is there even more than one? Though time will tell how much of a success he really is.) There's probably five David Edwards, Peter Kyles, William Post, Suzanne Mullins, Willie Hurts, Charles Riddle, Janite Lees or Evelyn Adams, who actually won twice.

                      You can't predict random.

                        JackpotWanna's avatar - squiz

                        United States
                        Member #4121
                        March 23, 2004
                        817 Posts
                        Offline
                        Posted: April 24, 2008, 11:54 am - IP Logged

                        He only spent 5 bucks and won $14 million ( Net $5 Million ) Goes to show you don't need to spend lots of money to win the lottery.  Amazing story.  Good luck to all Millionaire wannabees.

                          mpat69's avatar - Lottery-018.jpg
                          New Member
                          Federal Way
                          United States
                          Member #55594
                          October 9, 2007
                          7 Posts
                          Offline
                          Posted: April 29, 2008, 4:14 pm - IP Logged

                          Wish I could be so lucky. I would love to finally retire for real.

                          "You cannot win, if you do not play....."