Lottery winner claims simplicity is key to happy life

Comment #18

LOTTOMIKE — Sun, 26 Jun 2005 02:16:17 GMT

thats a good thing.....

Comment #17

ChazzMatt — Sun, 19 Jun 2005 17:17:49 GMT

the people who say they want to invest. well, you can invest the annual amount you receive each year. You get $2 or $3 million each year, you DON'T have to spend it all. Throw half of it into the stock market or a business or whatever. But, if you screw up and lose it in some stupid investment (we all have a learning curve, you know?) then at least you won't have lost ALL your money. You still have the next annual check coming for $2 or $3 million. it's just that sometimes people must thi... [ More ]

Comment #16

ryanm — Sat, 18 Jun 2005 04:34:32 GMT

Yeah, but a winner who chooses annuity could still foolishly end up borrowing against future payments, so it wouldn't make much of a difference. If one is careless with money, he or she will probably end up blowing his or her winnings in a short period regardless of payment option.

Comment #15

Todd — Thu, 16 Jun 2005 11:23:28 GMT

https://www.lotterypost.com/news/114723.htm

Comment #14

ChazzMatt — Thu, 16 Jun 2005 07:57:33 GMT

another person who took the cash instead of the annuity... Lottery winner turns thief after blowing cashTue Jun 14, 2005 11:23 AM ETBERLIN (Reuters) - A German lottery winner who blew all his winnings decided he was better off supplementing his income as a thief than claiming welfare benefits, a court in the central town of Meiningen said on Tuesday.The court said shortly after the man had frittered away the last of his prize worth around 760,000 euros ($921,000) by autumn 2003, he turned to rob... [ More ]

Comment #13

emilyg — Wed, 15 Jun 2005 16:44:06 GMT

Comment #12

ChazzMatt — Wed, 15 Jun 2005 14:18:16 GMT

There's theory and there's reality. the theory of taking the cash and investing is good, but the reality is you will spend some of that cash right now -- probably more than you should because you have so much. Before you realize it, $10 million is gone in the first year. Cars, trips, clothes, houses -- for yourself and some family. Nothing wrong with that, but then you won't have more money at all than if the lottery invested it for you. Because you have less to invest.You have to admit t... [ More ]

Comment #11

JAG331 — Wed, 15 Jun 2005 14:10:53 GMT

Taking the present cash value and investing will get you more money over time than the lottery's annuity. Plain and simple. Cash now = more money. Why is this so tough

Comment #10

ChazzMatt — Wed, 15 Jun 2005 05:19:39 GMT

I'm glad they didn't take the lump sum. People can argue all they want about taking the cash -- but these people are getting a nice stream of income -$1.5 - 2.0 million a year AFTER TAXES. If they don't spend all of it each year, they can invest the remainder to make even more money. If they do spend it all, then they have more coming the next year. Simple and keeps you from doing something stupid with all your money. And they hired financial advisors, probably to get less of a tax bite.... [ More ]

Comment #9

dvdiva — Wed, 15 Jun 2005 02:26:21 GMT

I would say winning a lot of money would be the key. I love when people with a lot of money claim that the key to happiness is simplicity. Easy to say when you don't have to struggle for your meager paycheck anymore.

Comment #8

CASH Only — Wed, 15 Jun 2005 00:44:30 GMT

Mr Whittaker knew to choose cash.

Comment #7

MPJO — Wed, 15 Jun 2005 00:43:22 GMT

I think it's safe to say that he is not related to Jack Whittaker.

Comment #6

CASH Only — Tue, 14 Jun 2005 23:38:52 GMT

The guy was already in his 60s when he hit.

Comment #5

wizeguy — Tue, 14 Jun 2005 23:35:24 GMT

A belated congrats to the winner

Comment #4

LOTTOMIKE — Tue, 14 Jun 2005 20:48:33 GMT

good for him.

Comment #3

CASH Only — Tue, 14 Jun 2005 19:29:31 GMT

NY still requires the cash/annuity choice to be made when you PLAY.

Comment #2

whodeani — Tue, 14 Jun 2005 19:16:11 GMT

As you can see, the Halls didn't make the same mistakes other lottery winners have. They didn't take the much reduced lump sum. Maybe before this person wrote this story he/she should have taken the time to familiarize himself/herself with how lottery payouts work. When you take the the lump sum, you are getting the same exact amount the lottery commission starts out with if you chose the annuity and money is put in an account which draws interest and it will grow to $65 million. The only dif... [ More ]

Comment #1

jeffrey — Tue, 14 Jun 2005 18:12:32 GMT

The only thing money can't buy is poverty. Anybody who says anything different is a fool. I know I will have a lot of detractors but that is what I think. Glad they aren't spending it hand over fist but I think lump sum with good investment is better when it gets over 4 million.

Lottery winner claims simplicity is key to happy life

Lottery Post — Tue, 14 Jun 2005 17:06:00 GMT

Jim Hall from Troy, New York says he's the same man he was before he hit the New York Lottery for $65 million five years ago. I'm still the same miserable (SOB) I always was, he said as we kicked back on his porch on a wet Friday night.Jim is a big man with a deep voice and lifetime memberships in the National Rifle Association and Safari International. He's got the firepower to prove it.But there's a softness the laid-back 67-year-old can't hide. You can see it in the house Jim and Vivian, his... [ More ]