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Twelve things not to do if you win the lottery

Topic closed. 126 replies. Last post 3 years ago by fastball 9.

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mypiemaster's avatar - 2015021003pileofcash
JACKPOT HUNTER

United States
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April 2, 2013
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Posted: August 28, 2013, 4:43 pm - IP Logged

Yeah, bad enough lottery winners get harrassed, or even threatened, for money after they've claimed their winnings. But you could run into trouble before you get the chance to claim, when such a fool comes forward and claims it's their ticket that they lost. Like that woman a while back, from Cleveland, I believe it was. You better hope you can prove to the lottery office that you are the rightful owner of the ticket.  Being a lottery winner draws a lot of parasites out of the crevices.

The lotteries should seriously consider leaving the choice of anonymity to the winners. If you are a ham, by all means ham it up in a press conference. If you prefer, to fly under the radar, you should also be allowed to do so. They contribute to the downfall of ill prepared winners, by exposing them to this crazy whirlwind of publicity. Once the genie is out of the bottle, you can't put it back in, except in the movies of course.

Seek and ye shall find -Matt. 7:7 ...Ask and ye shall receive -John 16:24 ...Give and it shall be given unto you -Luke 6:38 ...Be careful what you ask for!!! -Mypiemaster 1:1

Having Money Solves Problems That Not Having Money Creates Yes Nod ****John Carlton****

    mypiemaster's avatar - 2015021003pileofcash
    JACKPOT HUNTER

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    Posted: August 28, 2013, 4:56 pm - IP Logged

    First, taking the annuity requires that you trust the government running the lottery to be both willing and able to make those payments. I do not believe those funds are set aside outside the governments control. Maybe someone here can counter that if it's not true. There are too many examples out there of states making ex post facto changes to laws for me to trust them not to do so for nearly three decades, or to determine way down the road that your funds would be better used for the "public good". That $600M lottery win could start to look awfully tempting to politicians who want to hire a new teacher or two and get re-elected. Call me cynical, but I'd much rather have my funds in my hand. If I want to put them in an annuity, I can do that myself. It's all about risk and reward.

    Second, one clever idea I heard about sounds to be a fair compromise (although my first point still rules). A couple both claimed the prize, but one took the lump sump for half the payout and the other took the annuity. If that's possible to do, and you're dealing with a big enough jackpot, sounds like a tempting solution.

    …but I still think I'd rather have control over all those funds myself.

    And when you get that financial advice, make sure you're paying by the hour. Don't give your advisor a percent of anything. Get your advise from one source and invest with another source to remove any perverse incentives. I thank James Dines for that advice. And I heard Rush Limbaugh say a long time ago that he signs every single check. There's no financial manager allowed to do that on his behalf. Sounds like smart business to me.

    Prince, you have a great point. I have always wondered why the lotteries give the winners only two choices. The  ideal choices for me would be, four choices.

    ...CHOICE #1...Publicity or no publicity?

    ...CHOICE #2...LUMP SUM

    ...CHOICE #3...Annuity

    ...CHOICE #4...50% LUMP SUM and 50% annuity.

    Given these choices, if I still go broke, then I deserve to be slapped upside the head.

    Seek and ye shall find -Matt. 7:7 ...Ask and ye shall receive -John 16:24 ...Give and it shall be given unto you -Luke 6:38 ...Be careful what you ask for!!! -Mypiemaster 1:1

    Having Money Solves Problems That Not Having Money Creates Yes Nod ****John Carlton****

      Pita Maha's avatar - 940d8157 d1fb-4f70-a715-6ad04d915489.jpg
      SW Florida
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      August 11, 2013
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      Posted: August 28, 2013, 5:01 pm - IP Logged

      First, taking the annuity requires that you trust the government running the lottery to be both willing and able to make those payments. I do not believe those funds are set aside outside the governments control. Maybe someone here can counter that if it's not true. There are too many examples out there of states making ex post facto changes to laws for me to trust them not to do so for nearly three decades, or to determine way down the road that your funds would be better used for the "public good". That $600M lottery win could start to look awfully tempting to politicians who want to hire a new teacher or two and get re-elected. Call me cynical, but I'd much rather have my funds in my hand. If I want to put them in an annuity, I can do that myself. It's all about risk and reward.

      Second, one clever idea I heard about sounds to be a fair compromise (although my first point still rules). A couple both claimed the prize, but one took the lump sump for half the payout and the other took the annuity. If that's possible to do, and you're dealing with a big enough jackpot, sounds like a tempting solution.

      …but I still think I'd rather have control over all those funds myself.

      And when you get that financial advice, make sure you're paying by the hour. Don't give your advisor a percent of anything. Get your advise from one source and invest with another source to remove any perverse incentives. I thank James Dines for that advice. And I heard Rush Limbaugh say a long time ago that he signs every single check. There's no financial manager allowed to do that on his behalf. Sounds like smart business to me.

      Great post. I'm totally with you on the potential risks of trusting the govt with your winnings in an annuity. It sounds off the wall but hey, anything is possible these days. When I win, there's no way I'm choosing the annuity option. The idea of a couple doing both - cash option and annuity - sounds good though. Although we'd still take the cash option. They recommend the annuity in case you blow it all but I know I wouldn't do that.

        Artist77's avatar - batman14

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        Posted: August 28, 2013, 5:32 pm - IP Logged

        Why, thank you!  Such a nice thing to say!  I try to write, but am not very good at it. (I used to write really bad poetry and share it until I finally developed some shame)  For the last several years, I've been trying to write a book about the Hank Skinner murders in Pampa, Texas.  (he came within 20 minutes of being executed a few yrs. back)  At first, I thought he might very well be innocent, but after hundreds of interviews and hours and hours spent going over the evidence and testimony, I've reached the conclusion that he's guilty as charged.  The case is still important, though, what with the Supreme Court ruling that - in a nutshell -  he has a right to have tested some of the other DNA evidence collected at the scene.   I think the DNA will implicate him further, though.  Several YouTube videos of him, if you're interested.

        For a nonfiction book, you do not need to have it finished or even started to shop it around to publishers and literary agents.  The idea sounds interesting. You need to know how to write a book proposal and have a draft table of contents. But if you want some suggestions as to places to submit, feel free to pm me.  I can't give you any specific info on me (beyond I am published multiple times with a legitimate traditional publisher) and you will have to do ALL the work yourself and run with the info I give you. By the way, never badmouth your writing in a proposal since it will end up in the trash and not be read.

        J'aime La France.

          Pita Maha's avatar - 940d8157 d1fb-4f70-a715-6ad04d915489.jpg
          SW Florida
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          Posted: August 28, 2013, 6:00 pm - IP Logged

          I'm all for anonymity for lottery winners. I'm from Australia originally, where the option is available and most choose it. It came about because of a terrible incident back in 1960. A young Sydney family won the equivalent of about $5million and their lucky story was splashed across the front page of all the papers. Soon after, their young son was kidnapped on his way to school, and a ransom was demanded. The boy was murdered very soon after his kidnapping and luckily, the kidnapper caught and imprisoned til he died.  The option of anonymity for lottery winners was allowed right after that. The vast majority choose it because that tragic story is known by many, even today. 

          Here they say that lottery winners' stories are needed to keep the excitement up and encourage people to buy tickets. However, Australians are very avid lottery players, so that reason doesn't hold water. You're so right about it contributing to the downfall of ill-prepared winners. There's enough to worry about when you get sudden wealth, you don't need the stress and aggravation of dozens of strangers daily begging and demanding money or salespeople trying to sell you financial services and yachts.

            helpmewin's avatar - dandy
            u$a
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            Posted: August 29, 2013, 8:19 am - IP Logged

            I'm all for anonymity for lottery winners. I'm from Australia originally, where the option is available and most choose it. It came about because of a terrible incident back in 1960. A young Sydney family won the equivalent of about $5million and their lucky story was splashed across the front page of all the papers. Soon after, their young son was kidnapped on his way to school, and a ransom was demanded. The boy was murdered very soon after his kidnapping and luckily, the kidnapper caught and imprisoned til he died.  The option of anonymity for lottery winners was allowed right after that. The vast majority choose it because that tragic story is known by many, even today. 

            Here they say that lottery winners' stories are needed to keep the excitement up and encourage people to buy tickets. However, Australians are very avid lottery players, so that reason doesn't hold water. You're so right about it contributing to the downfall of ill-prepared winners. There's enough to worry about when you get sudden wealth, you don't need the stress and aggravation of dozens of strangers daily begging and demanding money or salespeople trying to sell you financial services and yachts.

            I Agree! I'm all for anonymity for lottery winners

            wow thats a sad story

              str8ca$hhomie's avatar - Cash

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              Posted: August 29, 2013, 9:02 am - IP Logged

              The lotteries should seriously consider leaving the choice of anonymity to the winners. If you are a ham, by all means ham it up in a press conference. If you prefer, to fly under the radar, you should also be allowed to do so. They contribute to the downfall of ill prepared winners, by exposing them to this crazy whirlwind of publicity. Once the genie is out of the bottle, you can't put it back in, except in the movies of course.

              I have to wonder what would happen if you showed up at Lottery Headquarters with your lawyer and he pulled out of his briefcase an affidavit for the lottery commisioner to date and sign stating that if any ill will or harm occurs to you and/or your family as a result of them publishing your name, picture, town, and street address that the State of ________ Lottery Commission is to be held liable and therefore accountable for them putting that bullseye on your back.

              Don't worry I already know the answer; just a crazy thought! Where's my medication?

              Sometimes it's extremely difficult if not practically impossible to get people to disregard the smoke and mirrors.  Instead, they seem to enjoy the ride down the proverbial Garden Path....... helpless to extricate themselves from being totally deceived by known forces in their midst who would argue that they have come here for the sole purpose of helping people.......str8ca$hhomie

                savagegoose's avatar - ProfilePho
                adelaide sa
                Australia
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                Posted: August 29, 2013, 4:10 pm - IP Logged

                (13) Tell your ex-wife

                thats what best friends are for.

                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

                  Artist77's avatar - batman14

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                  Posted: August 29, 2013, 5:26 pm - IP Logged

                  I have to wonder what would happen if you showed up at Lottery Headquarters with your lawyer and he pulled out of his briefcase an affidavit for the lottery commisioner to date and sign stating that if any ill will or harm occurs to you and/or your family as a result of them publishing your name, picture, town, and street address that the State of ________ Lottery Commission is to be held liable and therefore accountable for them putting that bullseye on your back.

                  Don't worry I already know the answer; just a crazy thought! Where's my medication?

                  lol lol

                  J'aime La France.

                    mypiemaster's avatar - 2015021003pileofcash
                    JACKPOT HUNTER

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                    Posted: August 29, 2013, 7:17 pm - IP Logged

                    I have to wonder what would happen if you showed up at Lottery Headquarters with your lawyer and he pulled out of his briefcase an affidavit for the lottery commisioner to date and sign stating that if any ill will or harm occurs to you and/or your family as a result of them publishing your name, picture, town, and street address that the State of ________ Lottery Commission is to be held liable and therefore accountable for them putting that bullseye on your back.

                    Don't worry I already know the answer; just a crazy thought! Where's my medication?

                    You got it right Homie. No medication needed. They are the "Masters of the universe", at least , their universe. If something goes wrong, they blame you. If they really screw you, and appear to be liable, they give you the usual one-liner.....liability is limited to the price of the ticket. It is good, to be the king/queen.

                    Seek and ye shall find -Matt. 7:7 ...Ask and ye shall receive -John 16:24 ...Give and it shall be given unto you -Luke 6:38 ...Be careful what you ask for!!! -Mypiemaster 1:1

                    Having Money Solves Problems That Not Having Money Creates Yes Nod ****John Carlton****

                      mypiemaster's avatar - 2015021003pileofcash
                      JACKPOT HUNTER

                      United States
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                      Posted: August 29, 2013, 7:27 pm - IP Logged

                      Are you pretending you're an expert on how lottery jackpot winners should spend their winning because you bought a ticket?

                      Consuming large amounts of bourbon, before reading the posts, apparently has the same effect, as putting the cart before the horse. No Nod

                      Seek and ye shall find -Matt. 7:7 ...Ask and ye shall receive -John 16:24 ...Give and it shall be given unto you -Luke 6:38 ...Be careful what you ask for!!! -Mypiemaster 1:1

                      Having Money Solves Problems That Not Having Money Creates Yes Nod ****John Carlton****

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                        Posted: August 29, 2013, 7:58 pm - IP Logged

                        Consuming large amounts of bourbon, before reading the posts, apparently has the same effect, as putting the cart before the horse. No Nod

                        Drunk or sober, people like you, who "know" what the jackpot winner should and should not do are probably the same people stalking the winners. What did Gloria have for breakfast this morning?

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                          Posted: August 29, 2013, 8:25 pm - IP Logged

                          One group not mentioned  in the article is the  Multi-State Lottery Association "MUSL".

                          We have some vague idea what they do but does a winner if they choose the Annuity Option see the specific securities purchased on their behalf. Is there a certified audit of the MUSL?

                          I have no reason to doubt they do what is promised but Enron......World Telecom....TYCO.... Lehman Brothers all were the pillars of the business community then fraud or mismanagement.

                          If their securities go bad do you really thing the State lotteries or taxpayers will cover any shortages.

                          Another reason to take the Cash!!!!!!!

                            mypiemaster's avatar - 2015021003pileofcash
                            JACKPOT HUNTER

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                            Posted: August 29, 2013, 8:32 pm - IP Logged

                            Drunk or sober, people like you, who "know" what the jackpot winner should and should not do are probably the same people stalking the winners. What did Gloria have for breakfast this morning?

                            DRUNK? Never would have guessed!!! Are you speaking, from real personal  experience Sad, or just while in suspended animation? Whatever the case maybe, get off it and go get some help and some sleep BedCASE CLOSED.

                            Seek and ye shall find -Matt. 7:7 ...Ask and ye shall receive -John 16:24 ...Give and it shall be given unto you -Luke 6:38 ...Be careful what you ask for!!! -Mypiemaster 1:1

                            Having Money Solves Problems That Not Having Money Creates Yes Nod ****John Carlton****

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                              Posted: August 29, 2013, 9:04 pm - IP Logged

                              DRUNK? Never would have guessed!!! Are you speaking, from real personal  experience Sad, or just while in suspended animation? Whatever the case maybe, get off it and go get some help and some sleep BedCASE CLOSED.

                              You started out telling all future jackpot winners what to do with their winnings as if you're a divine authority and now you're telling me what I should do. It's none of my business if you continue to hand out orders or any of my business when nobody listens to you either.