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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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United States
Member #131122
August 2, 2012
57 Posts
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Posted: March 27, 2013, 3:02 am - IP Logged

What am I missing? She had 5 mill it said left yet she lost her house when he went to jail? And why not have paid for the house in full instead of wasting money on vacations, cars, and what ever else?

Ah why can't someone who is not stupid win? lol

    ShowMeTheMoney$'s avatar - Lottery-050.jpg

    United States
    Member #140525
    March 21, 2013
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    Posted: March 27, 2013, 5:44 am - IP Logged

    Wow...Nine kids!  That's like the Brady Bunch plus the the Three Stooges.  Stooges  That's a lot of mouths to feed.

      savagegoose's avatar - ProfilePho
      adelaide sa
      Australia
      Member #37136
      April 11, 2006
      3300 Posts
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      Posted: March 27, 2013, 8:23 am - IP Logged

      Hi DC81

      Yeah, thanks for the follow up to my post. The DE saga is sure an interesting one! If I remember correctly it said he would have been pulling in about $85,000/month in interest without even touching the principal amount. Just crazy that he blew through EVERY penny. Smash

      that would be %10 on 10 mill, if you add %30 taxes, would mean an interest rate of %13+. at a more reasonable  yeild of %5 , would be a return after taxes

      $26700 / month. still how can you blow thru  $300k interest a year?

      simple never invest in the 1st place.

      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


        United States
        Member #130815
        July 25, 2012
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        Posted: March 27, 2013, 11:32 am - IP Logged

        Wow she';s got a broken $200,000 dollars Escalade in storage and she's broke??? How do you afford to keep something like that in storage but you can afford to fix it?? What the heck is wrong with it?? Or her for that matter?? Sell it  stop paying storage on broken stuff...

          helpmewin's avatar - dandy
          u$a
          United States
          Member #106665
          February 22, 2011
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          Posted: March 27, 2013, 1:33 pm - IP Logged

          Wow...Nine kids!  That's like the Brady Bunch plus the the Three Stooges.  Stooges  That's a lot of mouths to feed.

          PartyDanceDanceDance or 9 smileys dancing

          Let it Snow Snowman

            savagegoose's avatar - ProfilePho
            adelaide sa
            Australia
            Member #37136
            April 11, 2006
            3300 Posts
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            Posted: March 27, 2013, 2:52 pm - IP Logged

            Wow...Nine kids!  That's like the Brady Bunch plus the the Three Stooges.  Stooges  That's a lot of mouths to feed.

            theres always food stamps.

            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

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              Baton Rouge, LA
              United States
              Member #4602
              May 7, 2004
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              Posted: March 27, 2013, 11:05 pm - IP Logged

              This is very sad, they had a chance to improve their lives and didn't. That Escalade is just way over the top. I wouldn't mind nicer cars for me and my wife, but that is just nuts. Some just have to show off.

              The giving money away I think is what ruins a lot of people. They give money to all of these people thinking they are going be around but as soon as the money is gone, they are gone.

              If I were to win something like that, I would keep it as quiet is possible, and not give any money away and if anyone asks for money, they are out of my life for good.

              Prisoner Six

              "I am not a number, I am a free man!"

                justxploring's avatar - villiarna
                Wandering Aimlessly
                United States
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                November 5, 2005
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                Posted: March 27, 2013, 11:39 pm - IP Logged

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

                What the heck does this have to do with the original story?  Did you write "don't play any of that crazy Country & Western music" when that guy in West Virginia blew over $300 million?

                 

                There are many stories like this one and they're all sad (and pathetic!)

                  justxploring's avatar - villiarna
                  Wandering Aimlessly
                  United States
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                  November 5, 2005
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                  Posted: March 27, 2013, 11:45 pm - IP Logged

                   Remember that show The Beverly Hillbillies ?

                  They came into a lot of money but they were still country as all get out!! lol

                   

                  "I don't know where thet music's a comin' from but everytime I hear thet music, the next thing you know, somebody's at the front door." -Jed Clampett

                  Except the Clampetts didn't blow all of their wealth.  They obviously invested it in the bank or Milburn Drysdale wouldn't have catered so much to them. 

                   

                  One of my favorite lines ever in a comedy show:

                   

                  Mr. Addison:    Good afternoon, I'm Justin Addison. 

                  Jed:   Well shucks.  Don't feel so bad about it.  I'm just a Clampett.

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                    Texas
                    United States
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                    September 4, 2012
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                    Posted: March 27, 2013, 11:58 pm - IP Logged

                    It's really important that we know how to invest. Well it's a lesson learned to all lucky lotto winners. I hope the next winners will bear in their minds how to handle their finances well.

                      justxploring's avatar - villiarna
                      Wandering Aimlessly
                      United States
                      Member #25360
                      November 5, 2005
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                      Posted: March 28, 2013, 12:13 am - IP Logged

                      Just found this thought I'd post for all to see, it fits somebody

                       

                      (1) Sleep:  if you're poor and have a lumpy mattress, money will help you to buy a nicer one.   If you live in a noisy apartment, money will give you the opportunity to relocate, maybe to a cabin in the mountains or a beach house on several acres overlooking the Pacific. 

                      (2) Time:  True, money cannot buy time, but it can buy you a better lawyer if you are serving it. 

                      (3) Knowledge:   Also true, but knowledge comes from many things, including a good education which is very expensive. 

                      (4) Respect:   Also true.  However, if you have lots of money, you don't need a position, except for sitting in a comfortable chair when you're counting it.

                      (5) Health:  Totally disagree.  Good medical care is expensive.   It's a fact that poor people have a significantly higher change of dying if diagnosed with a serious illness like cancer simply because they aren't diagnosed in the early stages. 

                      (6) Life: Also true, money cannot buy you life. But in countries where there isn't enough food and medicine, children die from hunger and disease every day.

                      (7) Love - can't argue about this one.  True love cannot be bought.  However, I'd rather have a dog anyway.  LOL

                        dallascowboyfan's avatar - tiana the-princess-and-the-frog.jpg
                        Oklahoma
                        United States
                        Member #82391
                        November 12, 2009
                        6290 Posts
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                        Posted: March 29, 2013, 9:20 am - IP Logged

                        What am I missing? She had 5 mill it said left yet she lost her house when he went to jail? And why not have paid for the house in full instead of wasting money on vacations, cars, and what ever else?

                        Ah why can't someone who is not stupid win? lol

                        I Agree! Party, you would think that would of been the first thing she would have done especially having kids & living in shelters as a teen. I wonder how her parents & siblings are doing with their monetWhat?

                        I Love Pink & Green 1908

                          fwlawrence's avatar - Yavill
                          Austin
                          United States
                          Member #9378
                          December 6, 2004
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                          Posted: April 4, 2013, 4:46 pm - IP Logged

                          Penniless millionaires-is that an oxymoron?


                            Afghanistan
                            Member #101087
                            November 25, 2010
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                            Posted: April 8, 2013, 11:14 am - IP Logged

                            a typical person of her  kind