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With more money, more problems? Managing a windfall

Topic closed. 35 replies. Last post 6 years ago by dk1421.

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fwlawrence's avatar - Yavill
Austin
United States
Member #9378
December 6, 2004
210 Posts
Offline
Posted: January 12, 2011, 1:03 pm - IP Logged

Congratulations to the winners. I hope the winner in Postfalls, Idaho steps forward before it expires.

You forgot to also say "takes the cash option and doesnot have problems later in life".

    waltoy's avatar - Lottery-050.jpg
    Miami Garden Fl
    United States
    Member #103959
    January 7, 2011
    77 Posts
    Offline
    Posted: January 18, 2011, 10:53 am - IP Logged

    I'm am going ot be happy because i'll be the nex lottery winner soon and very soon and my

    favorite word will be Thanks You Lord!!!

    For mY Blessings.

      Avatar
      San Diego, CA
      United States
      Member #58386
      February 12, 2008
      287 Posts
      Offline
      Posted: January 19, 2011, 7:58 pm - IP Logged

      I will be very happy to except the windfall, hire a couple bodyguards and my favorite word will become NO!!! Evil

      Yes Nod

        dphillips's avatar - littleuns
        Albuquerque, New Mexico
        United States
        Member #5128
        June 18, 2004
        377 Posts
        Offline
        Posted: January 20, 2011, 4:46 pm - IP Logged

        For me, the stock market would be out of the question, Bernie, anyone? Unless, those investments are pretty conservative with little nor no loses. Although CDs, most money markets, mutual funds, and bank interests are not yielding high returns, at least they are conservative investments.

        As far as financial planners are concerned, I might consult a couple -- but it does not mean I would take their advice. Most banks will be glad to give you that advice free or can refer you to someone, especially if you are a large depositer, aka, lottery winner. If the financial planners are so good at what they do, why are they not wealthy? What are they doing with their money? Why should I retain them, possibly spending $100,000 to give me advice. I enjoy keeping my money, not giving it away.

        Finally, some of the sad stories you hear are from family members who had the audacity to think they are entitled to someone's winnings. So, to avoid that...just give them a $1.00 and tell them to dream!

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

          savagegoose's avatar - ProfilePho
          adelaide sa
          Australia
          Member #37136
          April 11, 2006
          3300 Posts
          Offline
          Posted: January 21, 2011, 10:47 am - IP Logged

          lol dphillips

          i made a suggestion here about having a pocket full of $1 tickets if i wona jackpot, then when peopple came a begging id give em a $1 ticket and wish em luck.  a lot of people here thought i was being too generous.

          2014 = -1016; 2015= -1409; 2016 JAN = -106; FEB= -81; MAR= -131; APR= - 87: MAY= -91; JUN= -39; JUL=-134; AUG= -124; SEP = -123; OCT= -84  NOV=- 73 TOT= -3498

          keno historic = -2291 ; 2015= -603; 2016= JAN=-32, FEB= +12 , MAR= -86, APR = -77. MAY= -48, JUN= -29, JUL=-71; AUG = -52; SEPT= -43; OCT = +56 NOV = -33 TOT= -3297

            dk1421's avatar - Lottery-024.jpg
            North Carolina
            United States
            Member #64582
            September 1, 2008
            347 Posts
            Offline
            Posted: January 23, 2011, 9:44 pm - IP Logged

            There is such  thing as Kidnap & Ransom insurance, probably a real good idea for jackpot winners.

            I've joked about this before, but it really is time for some lawyers and financial gurus to get together and form a Jackpot Winners Protection Program (a take off on the Witness Protection Program).

            They woluld represent the winners at the press conference, handle correspondence, etc...all tghe while "insualting" the winners from the inevitalbe hassles, please for money and such.

            If such a thing existed it would certainly be worth it.

            That sounds great! You and Todd should start one up!

            In fact, if I do win an obscene amount of money, I like the idea of hiring Todd to go do my press conference.  :-)  Then he can do free promo's for his sites.

            "Don't be a schmuck, always take the cash." -Coin Toss