Australian man who won lottery five times has "been to hell and back"

Comment #14

Suzy-Dittlenose — Wed, 19 May 2021 13:18:58 GMT

1 2 are very good ideas. I would first legally change my name so no one will know me. Then I'd turn in the ticket with my new legal name.

Comment #13

KY Floyd — Sat, 15 May 2021 06:23:34 GMT

FWIW, the US$ total is actually almost $2 million. 37.6k + 783k + 1,150k = $1,970,600

There's a good chance that's not enough for a guy who's 47 to retire on because if he lives another 40 years and inflation runs 3% per year by the time he's 87 he'll need $3.17 to equal every $1 he needs today. To take just 5% ($98.8k in US$) now and the inflation adjusted equivalent every year he'd need an annual return of almost 7.5% after taxes.

Comment #12

HaveABall — Sat, 15 May 2021 03:56:35 GMT

All in all, his winnings totaled about AUS$2.5 million (US$1.6 million). That was enough for anybody to:

Self invest 90% in plain Momentum ETF fund, then withdraw 7% annually for expenses and insurances, Retire, Move to a low taxes location, Buy a big two bedroom condo with indoor parking, gym, and swimming pool, Join a games, breakfast, lunch, or supper club, and Take a 7-day cruise vacation, annually, until you're up to 100 years old.

Comment #11

HoLeeKau — Thu, 13 May 2021 13:24:45 GMT

Exactly. $1.6 million isn't much money. Take $100k for a splurge - car, vacation, whatever you most want. And what's left is just enough to fund a nice retirement plan.

Comment #10

billybucks — Wed, 12 May 2021 04:25:28 GMT

High end European cars, jewelry, watches, handbags and 50k plane tickets and all he won was 1.6 million. This is worst than Jack Whittaker who won 300m at least before he started frittering it away and had more fun doing it for a while at least. This guy takes the cake for the most mismanaged lottery hit in history based on the amount he won.

Comment #9

KY Floyd — Wed, 12 May 2021 03:33:46 GMT

Donate anonymously (I am sure there are ways to do this)

One way is to write checks to a lawyer or other agent who will then write checks to whatever cause you're donating to. That's simple, but documents things so you can deduct any donations that are charitable. Or you can get more elaborate and create a legal entity specifically to handle the donations. Not sure how the IRS would feel about the documentation, but for modest donations you could just buy postal money orders.

Donating ano... [ More ]

Comment #8

Perfecttiming2 — Wed, 12 May 2021 01:09:42 GMT

I'd like to add:

4. Have a budget and stick to it

5. Donate anonymously (I am sure there are ways to do this)

***Don't know if its been done but members on Lottery Post could create an official Lottery Post Members What To Do / Not Do If You Win List .

We've seen many stories over the years to compile a nice list

Comment #7

sam9009 — Wed, 12 May 2021 01:08:36 GMT

I wonder if he chose his own numbers or QP

Comment #6

Perfecttiming2 — Wed, 12 May 2021 01:01:07 GMT

This guy ..... one bad decision after another. I think the money only magnified what was already there.

Comment #5

noise-gate — Tue, 11 May 2021 23:59:00 GMT

Carlo was warned by his friends, but his heart overruled that advice. Well look here..

Comment #4

Unluckyone — Tue, 11 May 2021 23:09:02 GMT

This guy won a total of 1.6 million USD and was living it up like he had much more. Flying first class to exotic destinations and buying sports cars especially in Australia will eat up your funds awfully quick. I believe his ex that he is indeed broke unfortunately for him many of us reading this story will use it as a what not to do game plan.

Comment #3

darthfury78 — Tue, 11 May 2021 19:36:55 GMT

Sad indeed. The moral to the story is:

If you win the lottery, put the money into a trust fund. Never tell friends and family about your winnings Invest the winnings into the stock market so that the prize money can grow 10x the initial amount..

I seriously doubt that anyone would follow that advice.

Comment #2

Unlucky-Kenny — Tue, 11 May 2021 19:00:09 GMT

Talk about luck to win so many prizes like that in that time frame - but then everything else that happened.

Sad story.

Comment #1

Tony Numbers — Tue, 11 May 2021 18:58:01 GMT

Easy Come. Easy Go

Australian man who won lottery five times has "been to hell and back"

Lottery Post — Tue, 11 May 2021 18:49:23 GMT

Unfortunate winner has had a tumultuous time since landing his windfall

By Kate Northrop

An Australian man who won the lottery five times revealed that his life has been anything but glamorous.

Carlo Massetti, 47 and a Kiwi living in Sydney, Australia, flew back to his native New Zealand to heal and cope with the tumultuous events that have defined his life since winning millions.

The unlucky lottery winner is out to prove that happiness and love can't be bought or won. On the contra... [ More ]