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$338M NJ Powerball winner pledges to pay rent for his entire block

Topic closed. 294 replies. Last post 4 years ago by helpmewin.

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wisconsin
United States
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July 23, 2012
198 Posts
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Posted: March 31, 2013, 11:08 pm - IP Logged

once again sully16

I agree gotta go Walking Dead is coming on and Game of Thrones tonight.

you got good taste in numbers and tv shows.

I'm buying myself a sweet crossbow when I win.

 

    rdgrnr's avatar - walt
    Way back up in them dadgum hills, son!
    United States
    Member #73904
    April 28, 2009
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    Posted: March 31, 2013, 11:11 pm - IP Logged

    Watching that now. I was kind of unimpressed when it started (It was the Moses guy...he had too big of shoes to fill...lol) but the rest has been spectacular!

    I Agree! Great show. Seemed like there were commercials every 5 minutes though. It'd be a lot better watching it on the DVD.

      RedStang's avatar - tallman zps6gf4inoc.jpg
      NY
      United States
      Member #121961
      January 21, 2012
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      Posted: March 31, 2013, 11:32 pm - IP Logged

      Pay their rent? Looks like the State will be getting a break for a couple months. He's better off giving it to st.judes or the aspca.

        brees2012's avatar - animal whale.jpg

        United States
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        March 26, 2012
        180 Posts
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        Posted: March 31, 2013, 11:41 pm - IP Logged

        Once you win .....How long does it take before you get your first check ???

        You need a plan (written down ) to what you're going to do with your money .

        Hire a Tax Lawyer , Financial Advisor and CPA ........Take a picture of your

        ticket , sign the back of it , take it to a safe deposit box , Never tell anyone

        you won and never make promises . Overall it takes months to get your finances

        in order . Do alot of research too . Those people who never been rich before will

        more likely lose there money if they don't plan it right . Becareful people will try and

        sue you for $$$$$ you can fix that if you speak with your lawyer about it ..

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          wisconsin
          United States
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          July 23, 2012
          198 Posts
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          Posted: March 31, 2013, 11:43 pm - IP Logged

          Once you win .....How long does it take before you get your first check ???

          You need a plan (written down ) to what you're going to do with your money .

          Hire a Tax Lawyer , Financial Advisor and CPA ........Take a picture of your

          ticket , sign the back of it , take it to a safe deposit box , Never tell anyone

          you won and never make promises . Overall it takes months to get your finances

          in order . Do alot of research too . Those people who never been rich before will

          more likely lose there money if they don't plan it right . Becareful people will try and

          sue you for $$$$$ you can fix that if you speak with your lawyer about it ..

          From what I've read, it takes about two weeks before you get your check.

          But, I highly doubt you'd have any problem getting a bank to front you a little money.

            brees2012's avatar - animal whale.jpg

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            March 26, 2012
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            Posted: March 31, 2013, 11:54 pm - IP Logged

            Thought they will give you a check once you turn in your ticket ....guess they don't . This was the part I wasn't sure about.

            I know it took approx 2 or 3 week for all the recieve to get to the lotto office .  With that amount of money this man is recieving , he really needs to get things in order .   The different between me and this powerball winner , I have a plan and know basicly what to do with the money , and I don't make promises to anyone . Plus I want my money to last
            for over 30 - 60 years or longer . Live off the interest ..... I see things differently with the lottery . 

            WE will NOT hear the last of this new powerball winner ...  Once you give out $$$$$$$ the people will continue asking and asking .........he was better off NOT telling anyone ...

             He will learn the hard way.....He didn't have a plan from the beginning ......

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              February 2, 2013
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              Posted: April 1, 2013, 12:19 am - IP Logged

              The only reason he won because he didn't have a plan and existence is using him to share the winning......those smart ones with plans will most probably NEVER win!!

                jackpotismine's avatar - kanji for_peace.jpg
                Kunming
                China
                Member #57910
                January 23, 2008
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                Posted: April 1, 2013, 12:43 am - IP Logged

                He's going to be broke if he keeps it up. Better get a financial planner. I can see all his ‘friends' saying: "Hey bro, can you lend me...?"

                Play to win!

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                  NY
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                  October 16, 2005
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                  Posted: April 1, 2013, 1:31 am - IP Logged

                  Every time I read an article about advice from financial advisers for lottery winners they say there's no problem with using 10% to indulge yourself  right off the bat.  I think this guy is a bit too vocal about some of his plans, but if he pays $1500 rent for 100 people for 2 months it comes to $300k. If he hands out another $700k he'll still be a good $12 to $14 million shy of  blowing through 10%. It's also worth noting that he's not just giving money to a bunch of random strangers. Most of these people are probably people who supported him in the past by coming into his store and spending their money.

                  He can burn through $200,000 every week for 10 years and still have at least $20 or $30 million left.  That's alot of time to figure things oput and improve your decision making.

                  It's far too early to have an honest idea of how this guy will do in the long run.

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                    NY
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                    October 16, 2005
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                    Posted: April 1, 2013, 1:32 am - IP Logged

                    "He said he's going to pay the rent for everybody here ..."

                    I think President Lyndon Johnson tried this. Food, too.
                    Anyone recall how it turned out? Wink
                    Thinking of...

                    Will be interesting if the IRS decides to count the rent payment as taxable income and then hit everyone up for it. LOL

                    Will be interesting if the IRS decides to count the rent payment as taxable income and then hit everyone up for it. LOL

                    Yeah. If only the IRS had rules about gifts of less than $13,000 per person per year maybe we'd have an idea how that will work out.

                      Factorem's avatar - candle

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                      October 12, 2011
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                      Posted: April 1, 2013, 3:21 am - IP Logged

                      To help LP readers better understand where Pedro and his actions are coming from, I would encourage members to read this article from the BBC about “A South American footballer playing in the English Premiership is spending his high salary not on fast cars and big houses, but on rebuilding an entire community where he grew up.

                      ”Ecuadorean footballer rebuilds village
                      http://news.bbc.co.uk/2/hi/americas/6302665.stm

                      Pedro lives, works, belongs to, and claims belonging with pride to a Latin community much like the one he left behind on the island. These communities often function like one giant extended family to the extents that after 2-1/2 decades of living in predominantly English Speaking USA, Pedro still uses Spanish as his primary language of communication to the extents that he answered the questions that were posed to him, in English and Spanish, at the press conference, all in Spanish.

                      The victories and failings of the community or village's sons and daughters, fathers and mothers, and children collectively, are seen as that of the community or village. A child's good report card is appreciated by those who are outside of its immediate family equally and alike, but are at large members of the community in which the child lives.

                      Pedro's win has placed his hometown of Passaic, N.J , front and center and zoomed in on, on the map of the USA and map of the world for anyone else out there, that may be paying attention to US lotteries.
                       
                      Pedro's victorious win is without question a victory for the community where Pedro lives . This is not to say that the win belongs to the community members equally. If Pedro had done something terribly bad, it will be perceived as demoting of the Community image.
                      Much like the Ecuadorian footballer that plays in the English league, there is a shared link that Pedro has in common, which is to share with his people, the people that he belongs to, and calls his neighbours with some of his winnings.

                      It is common in many traditions that when a good thing like improved wealth befalls a person, that,  he or she grants gifts of money to immediate neighbours, children and most especially to the less privileged, and generally helps out with finances to address and resolve neighbourhood needs that had been outstanding from lack of money.
                      I know this with certainty, because that is the way it is in the culture where I was born and grew up in.

                      This tradition is such that the day that Pedro takes his last breath, it is his community that will claim him and bury him, like they would do for one another. He came here 26 years ago, and chose to live with his own, and serve them, and related to them just like he was raised to do back home on the Islands

                      Pedro's win is a resolution and settlement that was done in his favor by both faith and fate, and perhaps Pedro knows it, and understands the meaning of the superior event that created the win for him, and the cleasing need to atone for wealth created from fundamentally dashed hopes, and regardless, share with others, by beginning at home, in line with the old human saying that 'Charity begins at home"

                      So let us all support Pedro in the spirit that he may extend his win as best as he can,  to  those around him that could use a helping hand to resolve problems that may have weighted them down for too long in thier lives.

                       

                        Kumo's avatar - ebDWVf6 jpg?1

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                        Posted: April 1, 2013, 5:20 am - IP Logged

                        So far he is not getting off to a good start. Roll Eyes Even if this was only a one time deal. Pedro just opened the door for more people to stick their hands out and saying no will become even harder from here on out.

                        If he really wants to give back to his local community, do something useful and lasting rather than giving out instant gratification freebees.

                         

                        -Buy the local volunteer fire department a new truck and a new ambulance.

                        -Buy the local emergency clinic new equipment. 

                        -Set up a scholarship fund for local youths who excel in their studies.

                        -Spruce up the local park with new playground equipment, bbq grills and picnic tables.

                        -Open up a local business, which translates into more jobs, the neighbors will respect him far more because of it.

                        -Invest the rest, so he can continue to make charitable donations year after year. (Look at the millions Romney gives away and his wealth continues to grow each year from his investments.)

                         

                        I'd like to see him buck the trend of lottery winners losing everything, but all evidence points to that it ain't going to happen.

                        Freedom is never more than one generation away from extinction. We didn't pass it to our children in the bloodstream. It must be fought for, protected, and handed on for them to do the same. ~Ronald Reagan

                        "None are more hopelessly enslaved than those who falsely believe they are free." ~Wolfgang von Goethe

                        "It's preferable to be harmlessly paranoid than fatally stupid."  ~Anonymous

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                          New Member

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                          March 21, 2013
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                          Posted: April 1, 2013, 6:44 am - IP Logged

                          Wow, really?! How he spends his money from here on out is his business. I'm sure he's not going broke in a few yrs. like many on here would like to see happen or whatnot... even if he does, so what? But, I doubt it... the guy has worked hard until now & even had his own business; surely, he knows the value of a dollar.

                          Personally, if it was me & I'm going to go out of my way to help my neighbors get their rent paid for (entire block), I'd at least pay for 6 months or the rest of this yr. It's still nice that he's giving them something, so it's a good gesture anyway you look at it. Since he showed up right away to claim his prize & be publicly known as the lucky winner, some see this as the wrong way to go about managing his windfall & others feel like maybe he's not giving/helping enough. Either way, it's great that he's in a position to be able to afford to do things that many can only dream of... actually, it's be a healthy thing to take 3-5% of it & spend it however he likes & be done with it (hopefully, helping those in need as much as giving it away). The rest can be managed/used responsibly for the rest of his lifetime when handled corretly so his children & grandchildren can live off of it comfortably.

                          Let the guy be... it's his decision/money/responsiblilty to do how he sees fit. All of us have our own lives to deal with, why get all worked up over someone's else good fortune Sleepy


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                            July 25, 2012
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                            Posted: April 1, 2013, 7:33 am - IP Logged

                            Will be interesting if the IRS decides to count the rent payment as taxable income and then hit everyone up for it. LOL

                            Yeah. If only the IRS had rules about gifts of less than $13,000 per person per year maybe we'd have an idea how that will work out.

                            Why would he even give it to the people anyway??? To make sure the landlord gets it....give it to the landlord in individual names of each tenant

                              mrylndw's avatar - Lottery-001.jpg
                              Pennsylvania
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                              May 1, 2012
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                              Posted: April 1, 2013, 8:35 am - IP Logged

                              I'd be more impressed if he had said he would set up education funds for those five kids of his...Jester

                                 
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