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Lottery winner who blew $14.5M happy to be working in cookie factory

Topic closed. 66 replies. Last post 3 years ago by veganlife125.

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Bethesda MD
United States
Member #134912
November 10, 2012
31 Posts
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Posted: July 13, 2013, 4:22 pm - IP Logged

HAPPY SATURDAY...7/13/13

IN ANSWER TO UR POST.....LOLOLOLOLOLOLOL......LMAO.....2 FUNNY 4 ME.....LOLOLOLOLOL   Thud

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    Bethesda MD
    United States
    Member #134912
    November 10, 2012
    31 Posts
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    Posted: July 13, 2013, 4:31 pm - IP Logged

    Saw this before.... instant wealth in the wrong hands .   14mil + and it  Never occured to him to secure  his daughters future?  Double Loser.

    I dont feel sorry for him. Its so easy to say what you d do differently next time.....

    Success isnt in HAVING money its in HANDLING money.

    I AM WITH U....LUCKYSHOES.....

    I am not perfect financially, but I couldn't do that.  I don't feel sorry for him, but only for his daughter.

    He is that reckless and irresponsible, that thoughtless and fickle.  His child has needs, but that didn't matter.

    He should have at least gotten a Financial Advisor or Attorney, to put aside 2 or 3 million for the child.

    Pathetic...completely Pathetic

      psykomo's avatar - animal shark.jpg

      United States
      Member #4877
      May 30, 2004
      5114 Posts
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      Posted: July 15, 2013, 7:35 pm - IP Logged

      PartyPartyyum, I love fresh baked bread.Lovies

      SLY:

      Have U tried Little "Debbie">>>>>she is back in a smaller size <<<Lovies

      TODAY'$$$$$$$ THE DAY>>>2 WIN JP Dance

                             HyperDrumHyper


        United States
        Member #116268
        September 7, 2011
        20244 Posts
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        Posted: July 15, 2013, 7:44 pm - IP Logged

        SLY:

        Have U tried Little "Debbie">>>>>she is back in a smaller size <<<Lovies

        TODAY'$$$$$$$ THE DAY>>>2 WIN JP Dance

                               HyperDrumHyper

        "Debbi" iS mY fRIEND.... $he iS D gOOdest oF gULL$$$$


          United States
          Member #106134
          February 13, 2011
          806 Posts
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          Posted: July 17, 2013, 1:27 pm - IP Logged

          He didn't even have much money to his name AFTER his win.  A lot of people here would say that a person can be set for life on $14,000,000 and I strongly disagree.  It's mostly due to the insane cost of living in the US.  40 years ago you technically could have been set for life with $14 mil, but not now.  In 2013 I'd say you really need $100 million after taxes in a lump sum to be "set."

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            Texas
            United States
            Member #132455
            September 4, 2012
            483 Posts
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            Posted: July 20, 2013, 5:56 am - IP Logged

            No amount of money is enough if you spend it with bad things. Lottery winners should know that no matter how much they have won if they will not spend it wisely it will just slip from their hands. Even if they win instant money they shoul still appreciate hard earned money that comes from work.

              veganlife125's avatar - Lottery-061.jpg

              United States
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              May 18, 2013
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              Posted: August 18, 2013, 7:30 pm - IP Logged

              Winning the lottery does not make one rich; being rich is as much a state of mind as it is actual circumstances.  Those who blew through their millions only were temporary beneficiaries of riches but possessed poverty mindsets. 

              To say one is happy being broke may reflect one's actual mindset.  Personally, I could never be happy being broke.

              Dumping tons of money on anyone who has never showed the willpower to save is just asking for it.   It's like putting someone in the Indy 500 who has never sat in a race car.  Your just asking for a wreck.Big Grin  Money burns a hole in most people's pockets and it always will.

              Don't forget to visit the Lottery Post Gift Shop!

                Greg2117's avatar - Lottery-035.jpg
                New York
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                August 12, 2013
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                Posted: August 28, 2013, 9:06 pm - IP Logged

                Now I really feel sorry for this guy. Having to play Grid 2 for his enjoyment....that game sucked. The first one was better.


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                  Posted: August 28, 2013, 9:51 pm - IP Logged

                  He didn't even have much money to his name AFTER his win.  A lot of people here would say that a person can be set for life on $14,000,000 and I strongly disagree.  It's mostly due to the insane cost of living in the US.  40 years ago you technically could have been set for life with $14 mil, but not now.  In 2013 I'd say you really need $100 million after taxes in a lump sum to be "set."

                  You must be smoking something or you didn't do the math, or both. Im not sure how you define "set for life" or "insane cost of living" but millions of people have retired with SSI only, getting a monthly check for $700-   $1100 per month and they manage to get by for the rest of their life because that's all they have. 

                  If a person has $5 million after taxes and can get a 5% return on that money they will get $250k annually, which after a 39% tax translates into a $12,708. check PER MONTH. 

                  If I did the math wrong or missed something here, someone please let me know.

                  All the irrational talk about taking government annuities and not being able to survive on $14 million is just plain childish and foolish talk in my opinion. 

                  If a person is going to blow $14 million they would also blow $114 million just like Jack did, and if they get an annuity they will cash that in and blow that too. 

                  I will take my $5 million in cash please, I don't need a high priced attorney to do 5th grade math for me.

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                    Kentucky
                    United States
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                    February 14, 2006
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                    Posted: August 29, 2013, 12:28 am - IP Logged

                    You must be smoking something or you didn't do the math, or both. Im not sure how you define "set for life" or "insane cost of living" but millions of people have retired with SSI only, getting a monthly check for $700-   $1100 per month and they manage to get by for the rest of their life because that's all they have. 

                    If a person has $5 million after taxes and can get a 5% return on that money they will get $250k annually, which after a 39% tax translates into a $12,708. check PER MONTH. 

                    If I did the math wrong or missed something here, someone please let me know.

                    All the irrational talk about taking government annuities and not being able to survive on $14 million is just plain childish and foolish talk in my opinion. 

                    If a person is going to blow $14 million they would also blow $114 million just like Jack did, and if they get an annuity they will cash that in and blow that too. 

                    I will take my $5 million in cash please, I don't need a high priced attorney to do 5th grade math for me.

                    Earl Pitts "American" mentioned today a group of millionaires were ask how much they could live on and the consensus was $5 million. Earl said he had barely enough money to put gas in his truck to get to work the rest of the week and not much food in the cupboard until payday, but said he would get by.

                    "All the irrational talk about taking government annuities and not being able to survive on $14 million is just plain childish and foolish talk in my opinion."

                    If we listen to some of the math professors emeritus that visit LP, it's just plain childish and foolish to believe they will win $14 million.

                    Hiding Behind Computer

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                      Posted: September 3, 2013, 1:58 pm - IP Logged

                      Yes, Yes and Yes, well said "success isn't in having money, it's in handling money".

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                        Posted: September 3, 2013, 2:12 pm - IP Logged

                        I disagree, you can be set for life on 14,000,000 and even 8,000,000  . 

                         

                        1.  you don't buy a mansion, buy a nice home that you can payoff at the begining. May-be a 1 - 3 million doller home.

                        2.  buy 3 cars, one a nice dinner car, and pay them off.

                        3.  Put yourself on a nice budget, do the math, 20, 30, 40 or 50 year budget

                        4.  You don't have to hang with alot of wealthy people, try your best to be normal person.

                          rdgrnr's avatar - walt
                          Way back up in them dadgum hills, son!
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                          Posted: September 3, 2013, 4:00 pm - IP Logged

                          I disagree, you can be set for life on 14,000,000 and even 8,000,000  . 

                           

                          1.  you don't buy a mansion, buy a nice home that you can payoff at the begining. May-be a 1 - 3 million doller home.

                          2.  buy 3 cars, one a nice dinner car, and pay them off.

                          3.  Put yourself on a nice budget, do the math, 20, 30, 40 or 50 year budget

                          4.  You don't have to hang with alot of wealthy people, try your best to be normal person.

                          What's a dinner car?

                          Just wondering.

                            Pita Maha's avatar - 940d8157 d1fb-4f70-a715-6ad04d915489.jpg
                            SW Florida
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                            Posted: September 3, 2013, 4:15 pm - IP Logged

                            I disagree, you can be set for life on 14,000,000 and even 8,000,000  . 

                             

                            1.  you don't buy a mansion, buy a nice home that you can payoff at the begining. May-be a 1 - 3 million doller home.

                            2.  buy 3 cars, one a nice dinner car, and pay them off.

                            3.  Put yourself on a nice budget, do the math, 20, 30, 40 or 50 year budget

                            4.  You don't have to hang with alot of wealthy people, try your best to be normal person.

                            Totally agree. I could easily be set for life with $8million.

                            People make the mistake of buying a whole bunch of big, fancy things, forgetting there's a lot of big ongoing maintenance costs forever after. Why buy a mansion? First, you remove a big chunk of principal that could be earning you interest income to live on. Then there's the huge property taxes, insurance, security, electricity, water,  gardeners, etc.  And if you insist on rubbing shoulders with the rich and famous, then you're going to have to regularly shell out a lot of extra money to keep up with them Kardashian types.

                            People are free, however, to blow it all in a few years or less but I refuse to feel sorry for them. The subject of this thread, the King of the Chavs, was an irresponsible, immature idiot and I doubt he's content with his life now. He's just saying that out of embarrassment and pride. He had the equivalent of USD $15million tax-free in 2002. Even half of that could have lasted til now, providing him with a steady income, if he'd been sensible.

                            The Rock Star lifestyle doesn't last if you're not actually a rock star making music, doing concerts and pulling in royalties.

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                              Posted: September 3, 2013, 7:40 pm - IP Logged

                              a BMW, Benz, 4 door sedan = a dinner car.