Young lottery winner discusses investment challenges

Comment #22

JackpotWanna — Fri, 05 Dec 2008 14:14:05 GMT

Buy large tracks of undeveloped land. Its dirt cheap now! no pun intended. lol

Comment #21

myzeus — Tue, 25 Nov 2008 05:12:45 GMT

I sure would not invest anything in the stock market right now, with the way the economy is going. If I had a huge windfall, I would invest into property and lots of property. At least I could see my investment in property. I would be too afraid to invest in the stock market right now.

Comment #20

KY Floyd — Thu, 30 Oct 2008 06:10:12 GMT

On top of that he knows it was sin.

Comment #19

ThatScaryChick — Thu, 30 Oct 2008 04:56:10 GMT

It may be true that everyone can express their opinions angry or not, but I see no need for another poster to call everyone pathetic for being sympathic towards someone else. They seem to be suffering from some anger problems.

Comment #18

neverwins — Thu, 30 Oct 2008 00:23:06 GMT

I see this thread is taking a bit of a turn for the worse!!

But I tend to agree, the forums are here so we can all express our own opinions... actually i guess that would include getting angry too...

he he

Amanda

Comment #17

ThatScaryChick — Wed, 29 Oct 2008 20:08:34 GMT

Well said.

Comment #16

grengrad — Wed, 29 Oct 2008 20:00:06 GMT

Who is more pathetic. People who show compassion for someone else, or a guy who gets angry and rants at people on the internet for showing compassion

Comment #15

Abdi — Wed, 29 Oct 2008 14:05:02 GMT

Congragulations to the young boy.luckly enough his grndamother helped him to win the money.

He did it on his birth day...a bove all he invested his money in the most clevereist way.

Comment #14

KY Floyd — Tue, 28 Oct 2008 21:36:19 GMT

He must have taken his stupid pills, too. Not one of the previous posts could be fairly described as pouring their hearts out.

Comment #13

neverwins — Tue, 28 Oct 2008 01:19:10 GMT

i see this has sparked a few interesting comments!

Firstly I do tend to agree that maybe giving sympathy to someone who won a million dollars and lost some of it in the stock market is probably being a little too sympathetic, purely for the fact that I would love to have been him! He's won more and probably has more than I ever will! So good on him!

It is a shame that he's tried to be smart with his money and it's backfired, but the stock market is never a guarantee, you take a risk by pu... [ More ]

Comment #12

Stack47 — Mon, 27 Oct 2008 16:37:38 GMT

Depends if he got a check for $1 million. If it's paid out over 20 years, even if he lost the entire first year's payment it would be only 5%. And I'm pretty sure most of the investors would be happy if the only lost 5% in the last 3 weeks.

Comment #11

sixstringernc — Sun, 26 Oct 2008 19:45:00 GMT

Somebody took their angry pills today. Hmmm....

Comment #10

hennybogan — Sun, 26 Oct 2008 19:27:20 GMT

Most Americans, like the ones who have responded above, have become a bunch of

unthinking bleeding hearts. Here you are pouring your hearts out for a twenty year old

who has lost some money THAT HE WON due to the stock market crash. What about the

untold MILLIONS OF AMERICANS WHO HAVE WORKED MOST OF THEIR LIVES PLACING

AS MUCH OF THEIR INCOME AS POSSIBLE INTO A RETIREMENT PLAN, NEARING RETIREMENT OR

TAKING IT ONLY TO SEE IT GO FROM SEVERAL MILLION DOLLARS TO SEVERAL THOUSAND DOLLA... [ More ]

Comment #9

JackpotWanna — Fri, 24 Oct 2008 23:21:20 GMT

Why? Why?

Just enjoy it. Eat good foods and drink fine wines. Buy a few nice clothes. Do some traveling. Move into a better rental apt. Put $25,000 into different banks no matter how low the interest is. That is my plan for a $1 Million.

Comment #8

foragoodcause — Fri, 24 Oct 2008 20:40:41 GMT

I don't like scratch off ticket because you don't get your money right away,every year he will receive a check of about $60.000.

Comment #7

grengrad — Fri, 24 Oct 2008 16:22:25 GMT

It is sad, because instead of him going out and blowing it, he did the right thing and invested it, and is getting punished for it.

Hopefully, he keeps his long-term mindset and rides out this temporary crash in the market.

If his portfolio is diversified, then he should have a very nice some of money by the time he reaches retirement age.

Comment #6

sixstringernc — Fri, 24 Oct 2008 12:51:54 GMT

We watch every time the market ticks downward, waiting for 4:30 p.m. sothe pain can finally stop. We are already hurting from all the stuffthat's going with the turbulent market feeling helpless and depressed.

Is it just me, or does anyone else find this kind of sad, that you can win 10 to 15 times more money that you can earn in a year in one fell swoop, and now you end up talking about hurting and being in pain, feeling helpless and depressed?

If I lacked the context, I might think the... [ More ]

Comment #5

KY Floyd — Fri, 24 Oct 2008 05:18:36 GMT

He's 20 years old. I think it's a safe bet that he wasn't planning on cashing it in any time soon, and in that case the current value is meaningless. If he just waits, the market will bounce back and his investment will be a very good chunk of a comfortable retirement.

Comment #4

ThatScaryChick — Fri, 24 Oct 2008 03:10:21 GMT

I wonder how much he has left. Hopefully he didn't put much of it into the stock market.

Comment #3

LckyLary — Fri, 24 Oct 2008 02:38:42 GMT

- Money has no value unto itself: only what the money can demand which is relative to how much supply there is of the product you want. Money lost on Wall St. may have been imaginary to begin with. The loss on a stock really only happens when a stock is sold low. Politicians are just pushing piles of money around but not doing anything to produce more goods. If I won a jackpot anytime soon I'd be buying oil right now.

- The Let Yourself Play! slogan in the Maryland Lottery is one of the coole... [ More ]

Comment #2

Editgap — Thu, 23 Oct 2008 10:36:53 GMT

I haven't read this.

But I was wondering what happened to all those big lottery winners who invested there money.

On the other hand I feel sad for those that invested their hard earn money.

Comment #1

JAP69 — Thu, 23 Oct 2008 03:29:27 GMT

Same thing was happening prior to the great depression.

Everyone that had extra money lying around was jumping in for the big kill.

Looks like this time around again will renew the fears of stock market investing.

Young lottery winner discusses investment challenges

Lottery Post — Thu, 23 Oct 2008 01:21:54 GMT

After winning million dollar lottery, Wall Street woes bring troubled times

Includes video report

By Louis Jay

Louis Jay is a sophomore pre-business major at Towson University and the former online editor of The Towerlight.

About a year ago you would have seen me on television promoting the Maryland Lottery, Let Yourself Play. You may have heard the story.

I spilled a Tropicana Coolatta on myself. My grandmother, in her old Jewish wisdom, always said that if you spill something on... [ More ]