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Lottery winner penniless after blowing through $10.5 million

Topic closed. 103 replies. Last post 4 years ago by ZANBAB1.

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savagegoose's avatar - ProfilePho
adelaide sa
Australia
Member #37136
April 11, 2006
3300 Posts
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Posted: March 25, 2013, 4:14 pm - IP Logged

bling bling

the big spender is her issue

a lot of lottery winners i find are just clueless about how to invest money

they should be getting richer ever year

grow 10m into 20m in 10 years, etc

not lose 10m in a few years

the majority of wealthy people spend below their means

 

yes this means the 2 million bucks or more spenders a year rich people, that these lottery winners try to copy

have like 50M PLUS in investments earning more, they keep getting more wealthy ever year

if u want to act rich, u better have investments to support it, lottery winners as a group, are freaking clueless in this department of thinkin

 

its just lottery winners are really idiots with money. u dump anyone with large amount of money, with no freaking idea how to invest it

and they start spending like it, but not invest it, its mind blowing how stupid lottery winners are

its so easy to go, if that was "me" i never waste it, in thinking terms

but truth is, must of people saying that, have not a clue how to invest and earn millions 

the truth is, even if they win over 100m in cash, if u have wrong thinkin, u blow it all,

 

am sure in shock how Jack Whittaker was a muti millioner before winning lottery"so u would think he would know how to handle it, WRONG"

then he wins 315m " lump sum of $113 million after taxes.:" and manages to blow that,and leave a trail of  ruin in hes money path

 

people just don't have a freaking clue............................

lottery the greatest experiment of "what's see what happens when we give stupid people millions"   its going to end badly, very Very badly.......... but is fun to watch, in sense of u cant help but look at the train wreck going down........... bad beyond belief  yes, amazing to watch, hell yes..............

 

 

ofc there tons of smart people who play also,and when they win, we won't hear the horror stories,  smartest winners are ones we don't know about,and who are more rich  then when they first hit jackpot

but they never end up in news......................

 

so i just got these morons to make funGreen laugh

i have to agree,i doubt i will be a saint and  flawless, i guress i will need financial advice, and lots of it. from many sources. listen to as many advisors as you can and  pick what one you like.  promisses of vast wealth?  well maybe you dont need t, you're already wealthy. maybe they're  trying to con you. diversify.  i want to win to   nevr have to worry about money again. reading all this i think my money worries would just be starting.

but ohh what a great thing to worry about.

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

    BEZ22's avatar - Lottery-067.jpg
    New Member
    South Carolina
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    March 25, 2013
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    Posted: March 25, 2013, 4:29 pm - IP Logged

    I hate reading about stories like this, but you know what; it's neccessary so we'll know what not to do when and if we hit it big...  New to the forum.. What's up LP?

      CajunWin4's avatar - Lottery-061.jpg
      Whiskey Island
      United States
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      April 24, 2010
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      Posted: March 25, 2013, 4:29 pm - IP Logged

              Time And Time Again To Many Lottery Winwers Let The Money Control Them , Not Them Controlling The Money!!!!

        dallascowboyfan's avatar - tiana the-princess-and-the-frog.jpg
        Oklahoma
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        Posted: March 25, 2013, 4:34 pm - IP Logged

        Welcome to the LP BEZ22Thumbs Up

        I Love Pink & Green 1908

          Instyle's avatar - Lottery-044.jpg

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          October 21, 2007
          161 Posts
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          Posted: March 25, 2013, 5:09 pm - IP Logged

          Nine years after cashing her $10,569,000.10 check, Canadian lotto winner Sharon Tirabassi is catching the Barton Street bus to her part-time job. She's working to support her kids in their rented house in northeast Hamilton, Ontario.

          Tirabassi, 35 — one of this city's biggest lotto winners — has gone from rolling in dough to living pay check to pay check.

          The Lotto Super7 payout didn't come with a financial adviser and before she knew it — big house, fancy cars, designer clothes, lavish parties, exotic trips, handouts to family, loans to friends — the money was gone.

          "You don't think it'll go (at the time), right?" she says.

          She'd check her account now and again, but there were always so many zeroes that she figured it was fine — until one day there was just three quarters of a million left.

          "And that was time for fun to stop and to just go back to life," she says.

          She's happier today. Says life has more purpose now than when she was shopping.

          She's working part-time as a personal support worker and raising her six kids in a rented downtown house off Barton and Sherman.

          Her husband, Vinny, also 35, has another three kids from a previous relationship.

          Asked about how life turned out for them, Vinny shrugs, smoking a cigarette in the doorway of their rented home.

          "I lived like this my whole life, I never was rich," he says. "We grew up like this, so we're used to it."

          Pretty much all that's left now is in trust for her kids when they turn 26 — her children will be OK, and that's what's important to her.

          "The moment I got it, I divided it among my family ... all of that other stuff was fun in the beginning, now it's like ... back to life," she says.

          Before her win, Tirabassi had been living in an east Hamilton apartment with her three kids, each one from a different father.

          She was Sharon Mentore then — not yet married. She had just landed a job as a personal care provider, fresh off welfare, and couldn't afford a car.

          But on Easter Weekend in April 2004, she literally hit the jackpot and won $10.5 million from a Lotto Super7 ticket.

          For someone who spent her teenage years bouncing around from shelter to shelter, she was unprepared for the millionaire lifestyle. That check might as well have been a money tree in the yard — it felt like cash for life.

          Suddenly, life was but a dream.

          She took friends on wild, all-expenses paid trips to Cancun, Florida, Las Vegas, California, the Caribbean.

          She bought a house on West 5th, and she married Vinny.

          In 2006, the newlyweds and blended Tirabassi family moved to a massive $515,000 home on Kitty Murray Lane in Ancaster.

          Despite cashing a $10.5 million check just two years earlier, Tirabassi took out a $360,000 mortgage on the house.

          The pair, Vinny says, owned four vehicles: a bright yellow Hummer, a Mustang, a Dodge Charger and a $200,000-plus, souped-up Cadillac Escalade — Tirabassi's baby.

          Her customized licence plate read "BABIPHAT," after one of her favorite designer clothing lines.

          Ancaster neighbours hated that Cadillac. Equipped with interior turntables and sound mixers, it blared hip-hop music in the driveway and shook their quiet suburban street.

          Tirabassi didn't like her neighbours.

          "They didn't like young people," she says.

          Besides the extravagant vehicles, a lot of the cash went to family and friends.

          Too much, she admits now.

          She gave her parents $1 million.

          Another $1.75 million was divided among her four siblings.

          She bought several houses in the city, renting them out at affordable rates to families. She said she paid people's rent. Lent money to help out a friend when her husband went to jail. Helped another two friends start up a business in Toronto.

          A lot of friends came out of the woodwork when news broke of her win — and a lot of them she never heard from again.

          "Money is the root of all evil," she says, shaking her head.

          Vinny agrees.

          "Friends that she hadn't talked to in a long time came calling."

          "Money doesn't buy you happiness. It caused her a lot of headaches," he says.

          "She lost a lot of friends, a lot of family."

          By 2007, according to an interview at the time, Tirabassi had already blown through half of her winnings, and was living off interest from investments on the other $5 million.

          Also that year, Vinny crashed the Mustang.

          He pleaded guilty to two counts of driving impaired and causing bodily harm. He was sentenced to 18 months in jail plus two years' probation. And his licence was revoked for five years.

          He would serve time again in 2011 after breaching his conditions and driving with a disqualified license.

          In 2008, while he was in jail, the Tirabassis lost the Ancaster house.

          From there, they moved to Hagersville, then out west to Edmonton once Vinny was out of jail.

          They moved around a lot and today, Hamilton's penniless millionaires are back downtown, living in a rented house on a quiet industrial street — not far from where she started.

          It's modest, the walls covered in family photos and the odd relic from their flashier days — Michael Jackson memorabilia for her, Maple Leafs memorabilia for him.

          They have two cats and a rabbit named Princess.

          The Tirabassis are worried about people knowing where they live now. Their win didn't make them a lot of friends, and they're worried about being robbed.

          "A lot of people do still think she has lots of money," Vinny said.

          Between the two of them, there are nine kids. Three each from previous relationships, and three more together.

          The Dodge Charger and the Hummer are nowhere in sight on their new street. She drives a hot pink electric bike these days, when she's not taking the bus.

          The Cadillac's in storage; it needs work done that she can't afford right now.

          A lot of friends are gone too.

          People took advantage of them, didn't pay them back when they loaned them money.

          "(They said) 'they've got enough so they're OK, right?'" Vinny said.

          Hamilton resident Gayle Zolaturiuk accepted a $30 million check from the OLG last week, and local convenience store owner Myungsu You is waiting to collect his $16.1 million on March 22.

          If the Tirabassis can give Zolaturiuk and You one piece of advice as they collect their wins, it's to be wary of whom you share it with.

          "Try to keep it to yourself. Keep it to yourself and don't trust anybody but family," Tirabassi says.

          But as she heads to work in her scrubs Wednesday, she says she couldn't help giving so much away.

          "That's the way I was brought up. Help those who can't help themselves," she says with a shrug.

          Rather than mourn the millions, she's concentrating now on raising her kids with those same family values.

          "I'm trying to get them to learn that they have to work for money," Tirabassi says.

          "Every so often they ask for money and I say I don't have any money till payday. You have to wait 'til payday."

          News story photo(Click to display full-size in gallery)

          News story photo(Click to display full-size in gallery)

          News story photo(Click to display full-size in gallery)

          Thanks to GAMBLIN QUEEN for the tip.

          Blah, Blah, Blah........ how many times have we heard the same old story, over and over and over and over and over and.......... again

            ashabug725's avatar - Yavill
            Indiana
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            Member #122868
            February 9, 2012
            322 Posts
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            Posted: March 25, 2013, 5:20 pm - IP Logged

            Don't annoy your neighbors with hip hop-rap rubbish CRAP either.

            I Agree!

            I wish I may, I wish I might...
                       Win the Powerball jackpot THIS big night!!!

              Avatar

              United States
              Member #97951
              September 28, 2010
              241 Posts
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              Posted: March 25, 2013, 5:21 pm - IP Logged

              bling bling

              the big spender is her issue

              a lot of lottery winners i find are just clueless about how to invest money

              they should be getting richer ever year

              grow 10m into 20m in 10 years, etc

              not lose 10m in a few years

              the majority of wealthy people spend below their means

               

              yes this means the 2 million bucks or more spenders a year rich people, that these lottery winners try to copy

              have like 50M PLUS in investments earning more, they keep getting more wealthy ever year

              if u want to act rich, u better have investments to support it, lottery winners as a group, are freaking clueless in this department of thinkin

               

              its just lottery winners are really idiots with money. u dump anyone with large amount of money, with no freaking idea how to invest it

              and they start spending like it, but not invest it, its mind blowing how stupid lottery winners are

              its so easy to go, if that was "me" i never waste it, in thinking terms

              but truth is, must of people saying that, have not a clue how to invest and earn millions 

              the truth is, even if they win over 100m in cash, if u have wrong thinkin, u blow it all,

               

              am sure in shock how Jack Whittaker was a muti millioner before winning lottery"so u would think he would know how to handle it, WRONG"

              then he wins 315m " lump sum of $113 million after taxes.:" and manages to blow that,and leave a trail of  ruin in hes money path

               

              people just don't have a freaking clue............................

              lottery the greatest experiment of "what's see what happens when we give stupid people millions"   its going to end badly, very Very badly.......... but is fun to watch, in sense of u cant help but look at the train wreck going down........... bad beyond belief  yes, amazing to watch, hell yes..............

               

               

              ofc there tons of smart people who play also,and when they win, we won't hear the horror stories,  smartest winners are ones we don't know about,and who are more rich  then when they first hit jackpot

              but they never end up in news......................

               

              so i just got these morons to make funGreen laugh

              LOL, that means that you are not dumb  enough to win.Why are you playing?

                MADDOG10's avatar - smoke
                Beautiful Florida
                United States
                Member #5709
                July 18, 2004
                20110 Posts
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                Posted: March 25, 2013, 5:29 pm - IP Logged

                The fool and their money are soon parted...

                                                             

                                                               "  When Injustice Becomes Law, Resistance Becomes Duty "

                  helpmewin's avatar - dandy
                  u$a
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                  Posted: March 25, 2013, 6:41 pm - IP Logged

                  Don't annoy your neighbors with hip hop-rap rubbish CRAP either.

                  Green laugh

                  Let it Snow Snowman

                    helpmewin's avatar - dandy
                    u$a
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                    Posted: March 25, 2013, 6:41 pm - IP Logged

                    The fool and their money are soon parted...

                    I Agree!

                    Let it Snow Snowman

                      helpmewin's avatar - dandy
                      u$a
                      United States
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                      February 22, 2011
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                      Posted: March 25, 2013, 6:43 pm - IP Logged

                      I hate reading about stories like this, but you know what; it's neccessary so we'll know what not to do when and if we hit it big...  New to the forum.. What's up LP?

                      what's that?What?

                      Let it Snow Snowman

                        Avatar
                        London
                        United Kingdom
                        Member #140684
                        March 24, 2013
                        566 Posts
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                        Posted: March 25, 2013, 6:44 pm - IP Logged

                        Winning that amount of money doesn't allow you to live the life without thinking about money, it can make you very comfortable and have a nice house and a car or two and some nice gadgets but it doesn't allow you to spend like there is no tomorrow. A fool and their money soon parted.

                        2016 Won/Lost

                        EuroMillions / Spent: £22 / Won £0 / Total -£22

                        UK Lotto / Spent: £4 / Won: £0 / Total: -£4

                        2016 Total: -£24

                        Jan: -£22 Feb: £0 ~ Mar: £0 ~ April: £0 ~ May: £0 ~ June: £0 ~ July: £2

                         

                        EuroMillions = £2 Line / Played: x11 [old price] 

                        EuroMillions = £2.50 Line / Played: x0

                        UK Lotto = £2 Line / Played x2

                          Artist77's avatar - batman14

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                          January 16, 2012
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                          Posted: March 25, 2013, 6:46 pm - IP Logged

                          The problem is that some of these lottery winners do seek financial advice but they ignore it.  They go into 24 hour party mode and spend, spend, spend.  They want to be rock stars and burn out quickly.

                          J'aime La France.

                            Avatar
                            London
                            United Kingdom
                            Member #140684
                            March 24, 2013
                            566 Posts
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                            Posted: March 25, 2013, 6:46 pm - IP Logged

                            The problem is that some of these lottery winners do seek financial advice but they ignore it.  They go into 24 hour party mode and spend, spend, spend.  They want to be rock stars and burn out quickly.

                            I Agree!

                             

                            I just wish someone from LP could win it, I know they would be smart with their new blessing.

                            2016 Won/Lost

                            EuroMillions / Spent: £22 / Won £0 / Total -£22

                            UK Lotto / Spent: £4 / Won: £0 / Total: -£4

                            2016 Total: -£24

                            Jan: -£22 Feb: £0 ~ Mar: £0 ~ April: £0 ~ May: £0 ~ June: £0 ~ July: £2

                             

                            EuroMillions = £2 Line / Played: x11 [old price] 

                            EuroMillions = £2.50 Line / Played: x0

                            UK Lotto = £2 Line / Played x2

                              helpmewin's avatar - dandy
                              u$a
                              United States
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                              February 22, 2011
                              19782 Posts
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                              Posted: March 25, 2013, 6:49 pm - IP Logged

                              I Agree!

                               

                              I just wish someone from LP could win it, I know they would be smart with their new blessing.

                              people win everyday from Lp, and there was a guy that won BIG from hereDance

                              Let it Snow Snowman