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6 lotto winners who lost it all

Topic closed. 53 replies. Last post 6 years ago by louise black.

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tiggs95's avatar - Lottery-036.jpg

United States
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November 4, 2006
3930 Posts
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Posted: June 9, 2010, 5:44 pm - IP Logged

??? we need to keep our political views to ourself

WOW MAN!!!.....ridge just got told off and what to do with his political niews..Like WOW MAN!!..Grovey man..far out man..let it all hang out man..crazy man crazy..

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    Norfolk,VA
    United States
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    December 2, 2009
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    Posted: June 9, 2010, 6:31 pm - IP Logged

    They were lucky enough to had a sweet taste and said it was sour.

    ROFL

    ''YOU CAN PAY FOR SCHOOL BUT, YOU CAN'T BUY CLASS''Thumbs Up

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      Norfolk,VA
      United States
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      December 2, 2009
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      Posted: June 9, 2010, 6:32 pm - IP Logged

      WOW MAN!!!.....ridge just got told off and what to do with his political niews..Like WOW MAN!!..Grovey man..far out man..let it all hang out man..crazy man crazy..

      LMFAO....you 2 are funny

      ''YOU CAN PAY FOR SCHOOL BUT, YOU CAN'T BUY CLASS''Thumbs Up

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        Norfolk,VA
        United States
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        Posted: June 9, 2010, 6:54 pm - IP Logged

        I see it like this, if you can't manage a couple hundred dollars then there is no way in hell your gonna have any clue as to how to manage Millions......

        ''YOU CAN PAY FOR SCHOOL BUT, YOU CAN'T BUY CLASS''Thumbs Up

          edge's avatar - waveform

          United States
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          December 26, 2008
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          Posted: June 9, 2010, 6:54 pm - IP Logged

          they will buy another QP and win couple of mills, then dump $ again on Las V and Strips and Gold watches and other refined things:), then back to Las V, the way karma operates don't be surprised, on the other hand, having so many families with financial problems, it's is an absolute heart break, than again I believe in an absolute anarchy when it comes to individual finances, long live United States!

          ab actu ad posse valet illatio - from the past one can infer the future

            tiggs95's avatar - Lottery-036.jpg

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            Posted: June 9, 2010, 8:07 pm - IP Logged

            I see it like this, if you can't manage a couple hundred dollars then there is no way in hell your gonna have any clue as to how to manage Millions......

            tiggs agrees with this but would love the challenge..

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              Norfolk,VA
              United States
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              December 2, 2009
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              Posted: June 9, 2010, 9:32 pm - IP Logged

              tiggs agrees with this but would love the challenge..

              '' break ya self fool'' lol

              ''YOU CAN PAY FOR SCHOOL BUT, YOU CAN'T BUY CLASS''Thumbs Up

                HaveABall's avatar - rocket

                United States
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                March 18, 2009
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                Posted: June 9, 2010, 9:51 pm - IP Logged

                It is important to remember that these 6 "unintelligent" jackpot winners' stories are RARE!!!  That is, oddly, why they are considered news!  That is what LotteryPost.com has taught us several times, anyhow.

                Consequentially, when we each win our multi-million dollar multi-state lottery jackpot, we will instead continue researching (free researching) and modeling our spending after the much higher percentage of winners who still have the bulk of their after taxes PRINCIPAL remaining (the winners who didn't donate more than 20% of their after taxes monies away to charities, family, or friends). It is important that if the net, after tax monies received were under $4 million (after the tax forms for the year of the win are completed and additional tax monies that weren't taken out originally by the lottery office) , that you probably not donate to anyone or any place, this of course would be for people that are probably younger than 65 years old (our whole life expectancy issue, apx. age 91, of course)!

                After we take our two week luxury cruise with a couple people who's company we enjoy, purchase a bit higher than average vehicle and dwelling through the protection of a REALTOR, and buy a year's worth of weekly helpful massages and/or chiropractic sessions, we'll likely quickly enroll ourselves and a close friend (who we give a few thousand dollars of seed money to) investing software courses.  We'll focus on learning how to only invest in "insurable" investments, have several "pretend" and within 2 months "actual" investing accounts -- EACH in different sectors (that way, when one's floor drops out, the others remain unaffected for a couple days or so, giving us a chance to vacate the investment into a cash account for the temporary time being, or shift into another account.  I presume that our new job as financial investor of several accounts will become our new DAILY employment source and will require 1.5-2 hours of daily evening monitoring.  The LotteryPost.com has shown me that "I" must become the daily monies investor/caretaker; not a position that I can hire someone to do (as it often becomes too difficult for a hireling not to resist embezzling).  Heck, working 2 hours a day to maintain and increase several accounts will also provide the added bonus of keeping us away from the too high costing investment in deadly and painful virus riddled prostitutes too! 

                StarTrollConehead

                Having several millions of dollars in my financial accounts means receiving several valuable services each day!

                Disney

                  victorl3ichiban's avatar - georgemichael
                  san jose
                  United States
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                  July 20, 2007
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                  Posted: June 9, 2010, 10:07 pm - IP Logged

                  Gosh just let me win the jackpot and I will handle the money wisely. These folks who won the lotto are simply people who can't control money because of their mindset. If they get help the right time, things would not end up this way. Same thing with celebrity who are in rehab.

                    rdgrnr's avatar - walt
                    Way back up in them dadgum hills, son!
                    United States
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                    April 28, 2009
                    14903 Posts
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                    Posted: June 10, 2010, 12:42 am - IP Logged

                    ??? we need to keep our political views to ourself

                    Wow Doc, you're scarin me with all that authoritarian yelling.

                    I see you're one of those "we" people like we have in office now. "We" all need to do this, "we" all need to do that.

                    So I'll tell ya what "we" all need to do now Doc.

                    I see you were posting on another thread that you won $160,000 on Quad 2222 and another $20,000 on Trip 777. You've been very fortunate here Doc.

                    So here's what "we" all need to do:

                    "We" need to support this site.

                    C'mon Doc, you've been taking a free ride for years while others pay for your privileges.

                    Loosen up Doc, stop being such a tightwad, skinflint, cheapskate, pennypinching miser.

                    What's it gonna be Doc? Gold or Platinum?

                    So, what's up Doc? What's it gonna be? 

                    "We" all want to know.

                    And don't tell us you ain't got the money Doc.

                    "We" already know you do.


                                                                 
                                         
                                                             

                     

                     

                     

                     

                                                                                                                       

                    "The only thing necessary for evil to triumph is for good men to do nothing"

                                                                                                                --Edmund Burke

                     

                     

                      rdgrnr's avatar - walt
                      Way back up in them dadgum hills, son!
                      United States
                      Member #73904
                      April 28, 2009
                      14903 Posts
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                      Posted: June 10, 2010, 1:23 am - IP Logged

                      WOW MAN!!!.....ridge just got told off and what to do with his political niews..Like WOW MAN!!..Grovey man..far out man..let it all hang out man..crazy man crazy..

                      Don't blame Doc, tiggs.

                      The poor soul is just a little too high strung.

                       

                      Let it all hang out?

                       

                      I'd like to dedicate it to Doc.

                       

                      I preach, my dear friends, you're about to receive old John Barleycorn, nicotine, and the temptations of Eve.
                      Thhhhhhpppttttppp!

                      No parking by the sewer sign
                      Hot dog my razor broke
                      Water dripping up the spout
                      But I don't care
                      Let it all hang out

                      Hanging from a pine tree by my knees
                      Sun shining through the shade
                      Nobody knows what it's all about
                      It's too much man
                      Let it all hang out

                      Saw a man walkin upside down
                      My TV's on the blink
                      Makes Galileo look like a Boy Scout
                      Sorry about that
                      Let it all hang out

                      Sleep all day drive all night
                      Brain my numb
                      Can't stop now
                      Sho ain't no doubt
                      Keep a open mind
                      Let it all hang out

                      It's raining inside a big brown moon
                      How does that mess your baby up the leg
                      Eating a Reuben sandwich and sauerkraut
                      Don't stop now Baby
                      Let it all hang out
                      I hope Doc enjoyed that, afterall it was free, just the way he thinks everything should be.
                      Right Doc?


                                                                   
                                           
                                                               

                       

                       

                       

                       

                                                                                                                         

                      "The only thing necessary for evil to triumph is for good men to do nothing"

                                                                                                                  --Edmund Burke

                       

                       

                        Nino224's avatar - Lottery-013.jpg
                        Miami
                        United States
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                        July 9, 2008
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                        Posted: June 10, 2010, 3:28 am - IP Logged

                        The truth is that anybody can squander a big jackpot. It's also true that the ones you hear about are from the shallowest end of the gene pool.

                        Jack Whittaker will probably be remembered as the granddaddy of all lottery losers, but my favorite will always be David Lee Edwards who got 27 mill after taxes from the KY lottery. That story would make Shakespeare blush.

                        "...a chance to push everything aside, the circumstances that've controlled our lives, and do it our way now. Good, bad or otherwise. You'll maybe get lost in it, tied up in it a little bit, but if you work your way through that the real you shows up, I think. Maybe what's at your core deep down, maybe that comes out. Maybe that's what it's about." Mike Pace 

                          johngreek's avatar - Lottery-023.jpg
                          Patras,Achaia,Greece
                          Greece
                          Member #91329
                          May 15, 2010
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                          Posted: June 10, 2010, 9:09 am - IP Logged

                          Jack is my favorite loser

                          One should assume that since he was already rich he knew how to manage big money...

                          Poor people are ..not all but many of them...bad at personal finance and at prioritizing...thats why they are poor in the first place

                           

                          Life is simple if you are thinking and decide in an analytic manner and if things dont go wrong............

                           

                          I love reading all these lottery failure stories...good fun

                            Avatar
                            New Member

                            United States
                            Member #79116
                            August 27, 2009
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                            Posted: June 10, 2010, 11:12 am - IP Logged

                            The truth is that anybody can squander a big jackpot. It's also true that the ones you hear about are from the shallowest end of the gene pool.

                            Jack Whittaker will probably be remembered as the granddaddy of all lottery losers, but my favorite will always be David Lee Edwards who got 27 mill after taxes from the KY lottery. That story would make Shakespeare blush.

                            http://www.lotterypost.com/news/161361

                             

                              That David Edwards is quite a story.  We should be able to look at his life, and the lives of other jackpot losers, and come up with a set of general rules to live by should we win.  

                             

                            1.  Invest for income and live within a budget.  Let's say Edwards had 27 million after taxes and everything.  If he had invested it, drawn off 3% for income, he'd have an income of over $800,000 a year, plus his investments would have grown to match inflation and increase in value.  Are you telling me that 800k a year is not enough to live on?  

                            2.  You are not financially responsible for friends and family.  There's a difference between one time gifts and regular gifts.  If you give someone money and they squander it on beer, hookers, and donuts, then come back with their hand out, you're doing them no favor by giving them more.  I know people with huge massive credit card debts.  There's no way I'd bail them out.  They need credit counseling, not cash.  If you must gift, give once and learn to say no.  

                            3.  If you hire a financial advisor, listen to their advice.  It seems Edwards had only one person in his life who was looking out for his best interests, and he mocked that person and ignored their advice.  Get your financial advice from a large, renown company.  He used Morgan Stanly.  But Vanguard, Blackrock, these types of companies deal in trillions of dollars.  If you're worried about them embezzling your money, you're just paranoid.  Your few millions will be piddling compared to their total assets.  It's the little guys you have to watch out for.  This Chandler guy that Edwards hired, who did he work for?  Himself?  He was better at lining his pocket than managing money.  Abraham Shakespeare trusted some woman who just showed up and offered to help him.  No.  The real professionals don't come to you, and they certainly don't need your money.   

                            4. Appreciate the value of money.  A $78,000 watch?  A $34,000 watch?  A $159,000 ring?  If a watch costs 78k, the thing better shoot laser beams and be able to stop time.  He bought cars, but had no place to store them.  If his neighbors were complaining that his home looked like a car lot, it was because the cars were setting in the driveway, not the garage.  Buying a one hundred thousand dollar car is a splurge, having a million dollars worth of auto in the driveway is a waste.  Let's don't even mention the jet.  That's just craziness.  

                            5.  Drugs are bad, mmmkay.  If I had millions of dollars and a drug addiction, I'll be in nicest rehab facility in the world.  If I had an income of 800k a year, I'd hire a big Samoan* to travel with me everywhere, slap the drugs out of my hand, and sit on my head every time I even think about doing drugs.  I'll learn.  *I'm partial to Samoans, really nice, honest people, but I guess any large muscular person would do.   

                            6.  If you weren't a business expert before you won the lottery, you will not magically be one after.  Edwards bought a limo company, a fiber optics company, and three racehorses.  What made him think he had the business sense to know if any of these things were good investments?  His financial advisor would have put the kibosh on all three.     

                            7.  Get a hobby that doesn't require spending tons of money.  You need something to fill your time.  Off and on over the years, I've dabbled in drawing, painting, playing music, and writing.  If I didn't have the nine-to-five, I know exactly how I'd be spending my time.  You need some hobbies, especially if you're a recovering addict (boredom and druggie friends would probably be the greatest threat to your sobriety).  

                             

                            That's just off the top of my head.  If I won a jackpot of any size, I would do more research and create a detailed plan before I even approached a lawyer, accountant, and financial advisor.  These advisors would help me modify the plan, then I'd stick to it.  There's no way I'd end up another lottery tragedy story through my own doing.


                              United States
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                              April 24, 2009
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                              Posted: June 10, 2010, 1:31 pm - IP Logged

                              I think the Democratic National Committee should give Janite Lee all her money back.

                              That would be the "fair" thing to do.

                              They didn't come through on the hopey changey thingy.

                              I'm sure they'll do the right thing now though and come to her aid the way she came to their aid. It's nice to know they will be returning her money and she can come out of bankruptcy with her head held high and say: "See, I told you so! The Democrat Big Shots will never let you down or turn their back on you!"

                              I can't wait to hear the news when they hand her that check! I bet even Michelle will be proud to be an American for the 2nd time in her life! 

                              Yes We Can!

                              Green laughspoken like a true Palin supporterGreen laugh