Welcome Guest
Log In | Register )
You last visited December 7, 2016, 5:07 pm
All times shown are
Eastern Time (GMT-5:00)

Fire destroys car of Powerball lottery winner

Topic closed. 32 replies. Last post 6 years ago by billyloco.

Page 2 of 3
PrintE-mailLink
luckyshoes's avatar - butterfly neg.jpg
Pennsylvania
United States
Member #79502
September 2, 2009
6395 Posts
Offline
Posted: July 12, 2010, 12:44 pm - IP Logged

Oh my, more publicity. Which I'm sure he does not need.

I think I'm too cheap for life because my idea of splurging is a Corvette, not a $140,000 Audi.

Well said      Id buy a corvette first !

    Spot-UK's avatar - 521252451 28bff065d5_o.jpg
    New Member
    London
    United Kingdom
    Member #93634
    July 4, 2010
    24 Posts
    Offline
    Posted: July 12, 2010, 12:45 pm - IP Logged

    That's interesting.

    Those winners who managed their money badly must have wished they had taken the annuity.

    With low interest rate, the present value of a jackpot win before tax should be good reason enough to take the lump sum.

      awwcrap's avatar - moon
      ky
      United States
      Member #37768
      April 19, 2006
      90 Posts
      Offline
      Posted: July 12, 2010, 1:45 pm - IP Logged

      I am not sure that having a less expensive car makes you wiser or a better person !

      Money is for saving AND spending !

      If I would ever win a large amount - I would have an expensive car or 2 - it is up to each individual as to what they do with their money - not for self-proclaimed experts !

      If you want a sports car, purchase one and don't worry about lunkheads that think you should be driving a pickup truck !

      I hope that the gentleman gets another dream car, if that is what he wants, after all - it is HIS money !

      US Flag

      I Agree!

        tnhope's avatar - Lottery-001.jpg
        Tennessee
        United States
        Member #33215
        February 19, 2006
        57 Posts
        Offline
        Posted: July 12, 2010, 3:50 pm - IP Logged

        pretty scary though...i know i would have panicPuke ...forget the money...Sulk Off

        seeing my car in smoke through my mirror.... money could be in my lap while driving and i would have left it all in that dang car....Thud

          Avatar
          New Member

          United States
          Member #79116
          August 27, 2009
          7 Posts
          Offline
          Posted: July 12, 2010, 8:02 pm - IP Logged

          "Those winners who managed their money badly must have wished they had taken the annuity."

           

          Not necessarily.  There's a book called Money for Nothing by Edward Ugel.  Ugel worked for a company that bought lottery annuities off of lottery winners who, for the most part, couldn't manage their finances.  It's an interesting read.  Sometimes people who take annuities take out huge loans for the fancy sports cars and big mansions, and normally their yearly check would be enough to cover these payments, but they couldn't say no to all the friends and family who turn into leaches.  Even with annual checks coming in worth millions (that'd be like winning the lottery every year), some people can still manage to stay broke.

            Avatar
            California
            United States
            Member #80929
            October 7, 2009
            94 Posts
            Offline
            Posted: July 13, 2010, 12:57 am - IP Logged

            Oh my, more publicity. Which I'm sure he does not need.

            I think I'm too cheap for life because my idea of splurging is a Corvette, not a $140,000 Audi.

            I agree.  If I won $8.7M after taxes, I wouldn't buy a $114K car.  Seems sort of a waste to me.  In fact, I'd probably just keep what I have now since it still works and looks decent.  I'd just make a few small fixes and install a new 4.1 way stereo system into it.  The total cost probably wouldn't be more than $3K.


              United States
              Member #68713
              December 28, 2008
              301 Posts
              Offline
              Posted: July 13, 2010, 9:08 am - IP Logged

              PonderI am not one of those grassy knoll person ,but you have to admit there some suspicious about this flaming engine car of a winner of the power ball.Muuuhhh!!!!Yes Nod

                HaveABall's avatar - rocket

                United States
                Member #72448
                March 18, 2009
                1228 Posts
                Offline
                Posted: July 13, 2010, 11:57 am - IP Logged

                It's a burden to own a flashy car and I wouldn't want one even if I won the lottery.

                I get a strange satisfaction to see a sports car being ticketed, towed away or clamped for illegal parking.

                Took this pic some months ago on a side-street where I live: Evil

                Lamborghini car clamped

                Well then, you sound like a mean spirited person.  Unfortunately, there are a lot of people who think the way you do ... it's a real unhelpful weight to whichever society that they interact within.

                Yet, thankfully, a mean spirited person can become a useful member to their society whenever they choose to change their thinking and behaviors!  It takes a concentrated 21-30 days to change a habit; I hope that you will change yourself soon (for your's and society's sake).

                Thinking of...

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

                Disney

                  Avatar
                  California
                  United States
                  Member #80929
                  October 7, 2009
                  94 Posts
                  Offline
                  Posted: July 13, 2010, 11:09 pm - IP Logged

                  That's interesting.

                  Those winners who managed their money badly must have wished they had taken the annuity.

                  With low interest rate, the present value of a jackpot win before tax should be good reason enough to take the lump sum.

                  Yes, as someone mentioned before, most posted or announced USA lottery jackpots are the amounts paid over 20-25 years.  The winner has the choice of taking a lump sum or payments over these years.  The winner must then pay taxes.  Typically, the lottery officials will take out an initial amount for taxes but this usually doesn't cover all taxes.  The winner must then pay the rest at tax time.

                  A simple way to estimate the value of a USA lottery jackpot is to divide it by 3.  This will give you an estimate of the value of the lump sum after taxes.  For example, this winner won $25M and the lump sum after taxes was $8.7M.  Estimating, $25M/3 is $8.3M which is very close to the actual amount.  Another example is the recent $260M PowerBall jackpot winner:  $260M/3 is $86.7M lump sum after taxes.  It's not $260M but I could live with $86.7M.  It's usually slightly more, but it gives you a good idea of what the winners end up with.  News outlets usually don't tell you what the lump sum after taxes is.

                  Also, as another person here mentioned, there are companies which will buy out any annuities, including lotto winnings.  However, these companies will charge a fee and interest for this service.  The lotto winner is then free to do whatever he wishes with his money.

                  How does it work in the UK?  Is the announced amount what the winner gets?  I understand UK winners are not taxed.  Is this true?

                    Avatar
                    California
                    United States
                    Member #80929
                    October 7, 2009
                    94 Posts
                    Offline
                    Posted: July 13, 2010, 11:19 pm - IP Logged

                    PonderI am not one of those grassy knoll person ,but you have to admit there some suspicious about this flaming engine car of a winner of the power ball.Muuuhhh!!!!Yes Nod

                    That's what I initially thought.  However, upon retrospect, engine fires are a lot more common that you might think.  In fact, a long time ago, I had a car where the carburetor would leak fuel out of the top right onto the hot engine, something wrong with the valve.  It never caught fire though.  I was lucky.  But then again, perhaps someone sabotaged his Audi R8 to extort money from him.  Perhaps the local criminal element did it.  But nah, new cars are so complex, it was probably something either heat or fuel related.

                      Avatar
                      California
                      United States
                      Member #80929
                      October 7, 2009
                      94 Posts
                      Offline
                      Posted: July 13, 2010, 11:27 pm - IP Logged

                      lol the fire officals claim it was only one of two r8's in the country....???  well thats some bull,  i've seen r8's driving around NC.  another joke is the fact that if it were only one of the two r8"s in the states.... wouldn't it be worth more than $140k

                      every one can relax because im sure the guy has/had insurance on the car.  may be he will get another one and claim to have owned 2 of the only 3 r8's in the States.

                      While he did have insurance, there will probably be a large deductable, up to $5,000 he will have to pay.  However, because of the bad publicity, he might be able to get Audi to give him another car for free.  If he wrote the CEO of Audi in Germany, he could request they give him another car.  After all, it's probably a defect in the car which caused the fire.  This does not make Audi look good and Audi would want to repair its image.

                        TheGameGrl's avatar - character catafly.jpg
                        A long and winding road
                        United States
                        Member #17084
                        June 10, 2005
                        4526 Posts
                        Offline
                        Posted: July 13, 2010, 11:46 pm - IP Logged

                        Cal you make a valid statment that image is everything to the car industry. THey could also say the guy gave them a bad image and counter sue. Audi is quite the shrewd manufacturer and will not allow tarnishment by any means. Will be interesting though to see if it was mechanical ....or due to what was stored in the tail end.

                        As iterated before, Its his business how he spends it or invest in his joys.Just glad he is alive and able to walk away from such a terrible incident...

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

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

                          HaveABall's avatar - rocket

                          United States
                          Member #72448
                          March 18, 2009
                          1228 Posts
                          Offline
                          Posted: July 14, 2010, 12:59 am - IP Logged

                          Rahul, I'm glad that you're okay [very few drivers regularly look at all three car mirrors when driving; so you have great defensive driving skills!] and that if it was Audi's flaw in your car, that they will mend problem and then give you another to replace!

                          Dupe Alert

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

                          Disney

                            Halle99's avatar - Lottery-043.jpg
                            United States
                            United States
                            Member #68252
                            December 16, 2008
                            168 Posts
                            Offline
                            Posted: July 14, 2010, 1:46 am - IP Logged

                            Oh my thats so sad........I wish him all the best.

                            "Wait eagerly for the Lord, and keep to the way; God wil raise you to possess the land; you will gloat when the wicked are cut off".

                                                                                                          Psalms 37:34

                              rdgrnr's avatar - walt
                              Way back up in them dadgum hills, son!
                              United States
                              Member #73904
                              April 28, 2009
                              14903 Posts
                              Offline
                              Posted: July 14, 2010, 2:33 am - IP Logged

                              Rahul, I'm glad that you're okay [very few drivers regularly look at all three car mirrors when driving; so you have great defensive driving skills!] and that if it was Audi's flaw in your car, that they will mend problem and then give you another to replace!

                              Dupe Alert

                              "[very few drivers regularly look at all three car mirrors when driving;"

                               

                              I have to disagree with that. I be lookin everywhere.

                              Specially if the lady next to me got a... well... never mind.


                                                                           
                                                   
                                                                       

                               

                               

                               

                               

                                                                                                                                 

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

                                                                                                                          --Edmund Burke