Winners who lose it all

Reply #22

CDanaT — Tue, 24 Jan 2012 15:44:39 GMT

42 million after taxes ???? hmmmmmmm I think that would be very easy to accomodate any normal, reasonably sane, lotto player. Set aside 20 million to live off for the rest of your life. Invest it with a return between 3 -5 percent annually with a dividend being paid out on a monthly basis, which would give you at least $600K - a Million a year( minus 35% in Federal taxes and whatever % for your states taxes). Give some to charity,take $3 - 4 million to blow some on toys, houses and vacations. Gi... [ More ]

Reply #21

savagegoose — Tue, 24 Jan 2012 08:17:01 GMT

$42 M is a return of $3.4M a year every year. for your investment cvompany, what you decide to pay your self out of that will be upto you7 and your accountant to decide. but personally , if i had a budget of 3,4M a year , or 67k a week, i think i could not only stay within budget but actually grown my income. and do some good.

Reply #20

rdgrnr — Tue, 24 Jan 2012 07:14:05 GMT

Welcome to Lottery Post, maji777, best of luck to ya

Reply #19

maji777 — Tue, 24 Jan 2012 06:42:01 GMT

This is why I'm glad I stumbled across this site (LP). So many different inputs. No matter which side of the line you fall on this issue, you can appreciate that there are opposing points of view. I believe in having a plan also. We put a lot of time into trying to figure out the right #'s. So before each drawing we understand the value of Staying Focused on the task at hand, so we don't waste our money or time on what we believe won't work. And on the day of each drawing, we understand the time... [ More ]

Reply #18

rdgrnr — Sat, 21 Jan 2012 22:13:55 GMT

Que sera, sera.

They can call me anything they want except late for supper.

Reply #17

Arrowhead — Fri, 30 Dec 2011 02:54:34 GMT

While I don't neccessarily have a 'set plan' for everything I'd do with a jackpot, I have a general sense of how much I'd keep for myself and my family, depending on size of the win.

Always have said, the bigger the jackpot, the more I could help others. And yes, I'd be getting professional advice before commiting to anything.

Reply #16

NightStalker — Fri, 30 Dec 2011 02:38:38 GMT

Most people who win a lottery JP don't have a plan on how to handle the money afterwards. My wife and I have had a plan for years, so when that day comes we will not be unprepared.

Large amounts of money can make people make terrible decisions. I have watched that How The Lottery Changed My Life show and can see that some of those people are spending money way too fast and don't have a plan to make the money last for the rest of their lives.

NS

Reply #15

Arrowhead — Fri, 30 Dec 2011 02:35:03 GMT

Now, wait a minute...$42 million after taxes isn't really so much 'in the grand scheme of things'? You cannot be serious.

Sure, you don't want to pretend your Trump and try to spend like a Trump. You don't need five homes and ten cars. You don't need to carry dozens of family members/friends financially the rest of their lives.

But you could keep, say, 60% for yourself and still help many people while contributing to charitible organizations, schools, hospitals, whatever appeals to your se... [ More ]

Reply #14

rdgrnr — Thu, 29 Dec 2011 18:48:37 GMT

42 Million cash and he's gonna continue living like he's poor?

What kinda schmuck is this guy?

What the hell was he playing Powerball for if he wants to live like he's poor anyway?

What a schmuck.

Reply #13

jjtheprince — Thu, 29 Dec 2011 17:11:30 GMT

A newspaper around here interviewed a Powerball winner once and asked what they were planning to do in order to not go broke as some lottery winners do. The winner replied Continue to live as I did when I was poor. That was an excellent answer. This winner received $42,000,000 after taxes, and if you think about it, that's really not too much in the grand scheme of things.

Reply #12

psykomo — Wed, 28 Dec 2011 14:50:01 GMT

HAPPY NEW YEAR

2012

Reply #11

psykomo — Wed, 28 Dec 2011 14:39:41 GMT

LUCK 2 ALL 2011 LOSERS (TIGHTEN UP on UR ####'s)

play smart in difficult times, save money 4 gas, cut

down

Reply #10

psykomo — Sun, 25 Dec 2011 00:11:18 GMT

tweet: weather report Palm Beach, FL

tonight: tomorrow:

partly cloudy 72*F party cloudy 79*F

surf: surf:

choppy calm

HOW IS THE WEATHER ON UR OWN PRIVAIE JET AWAY island ??????

YOU NEED A VACATION this CHRISTMAS D blue water is beautiful!!

(play the lottery as much as U can cause U can't RIDE D BIG jets in D SKY cause U need MONEY!)

LOL

ps: start planning UR SPRING GIT AWAY NOW !!!!!!!!!U DeSERVE ..... BREAK

Reply #9

psykomo — Sat, 24 Dec 2011 17:07:59 GMT

Winners who lose it ALL are just human like me r

you. RICH and POOR people are ALL alike,they can

be naughty or nice!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

We are ALL the same reguardless of what sides of

the track we were born or what part of the world

we came FROM or what color of our SKIN!!!!!!!!!!

Some of us have been on BOTH sides of the STREET

but I like the side paved with GOLD the mostest$

DON't be disappointed because YOU can't AFFORD a

XMAS vacation in the 49th state... [ More ]

Reply #8

Guest — Sat, 24 Dec 2011 15:44:52 GMT

I think you are still missing the whole point! No one knows how or why a person loses their money

yes I do, it's called not having common sense, and being stupid.

Your compassion goes out to people who have their life savings stolen, but what about the winner who has family members, friends, and strangers all turn on them??

let me tell you something, i'd take those problems anyday over having to work for a living the rest of my life. awwww, poor person having to deal with unruly p... [ More ]

Reply #7

TDS12 — Sat, 24 Dec 2011 08:06:43 GMT

I think you are still missing the whole point! No one knows how or why a person loses their money...yes it is a shame that people aren't smart enough to realize that this money can be gone quick. Your compassion goes out to people who have their life savings stolen, but what about the winner who has family members, friends, and strangers all turn on them?? Because a person is blessed with a win, does that mean they deserve to have their lives threatened, and even worse someone murder them becaus... [ More ]

Reply #6

Guest — Sat, 24 Dec 2011 01:56:06 GMT

i don't have compassion for idiots who throw away their money gained from something like a once in a lifetime opportunity such as winning a big JP. that's just plain stupidity.

thank you for showing me how you think just like TDS. now I know how you think too.

i don't pity stupidity, sorry.

now, the people I do have compassion for are the people who's life savings are stolen by greedy self centered idiots who don't realize how much damage they've caused. but people who lose their money... [ More ]

Reply #5

weshar75 — Sat, 24 Dec 2011 01:31:58 GMT

I think it all boils down to choices and everyone has a choice to make and some choose poorly while others do not. So if you know your going to choose badly take the annuity and if you can handle cash in large amounts then take the cash. But bottom line is choose wisely because it is your money.-weshar75

Reply #4

TheGameGrl — Fri, 23 Dec 2011 23:37:48 GMT

Thank you Somer for being that shining example of what TDS was speaking of. May you some day gain a level of sensibility and compassion for people in general be they rich poor or otherwise. We are but here for a brief moment and its a choice how we choose to speak of others, it reflects more so about oneself....

TDS wasnt directing it at a particular person so much as an attitude....

TDS, Thank you much for sharing a glaring flaw that can be read on the forums...luckily there are some here... [ More ]

Reply #3

Guest — Fri, 23 Dec 2011 22:30:48 GMT

it's not emotions but facts as far as I'm concerned. if they ruin a once in a lifetime chance, then that's their own stupidity. i know that i wouldn't go on a spending spree and wipe out everything i won, and that's a fact. as a person who works hard for my money, i appreciate and respect the value of a dollar.

i don't have to walk in their shoes. everyone is different, and no one can lump everyone into one pot, so i can say the same about your comments because you don't know me, and how i wo... [ More ]

Reply #2

Coin Toss — Fri, 23 Dec 2011 22:27:23 GMT

TDS12,

True, lottery winners are still human, BUT.......just do a search here at LP for Jack Whitaker (West Virginia, black cowboy hat, record MM jackpot at the time), or David Lee Edwards (pretty sure that's his name).

Whitaker, already welathy from his construction business, would go to strip clubs while it was known he had hundreds of thousands of dollars cash in the trunk of his car. He got rolled a few times. Big surprise. So yeah, we can call that stupid. Flat out stupid.

The Davi... [ More ]

Reply #1

savagegoose — Fri, 23 Dec 2011 13:41:28 GMT

nice sentiment, at this time of year to.

id like to wish any winners in the new year to survive the experience with their family, life, mind and hapiness intact.

Winners who lose it all

TDS12 — Fri, 23 Dec 2011 08:04:39 GMT

I have noticed when talking about people who win the lottery, and lose it all there seems to be alot of hateful things that are said. My question is why??? When it comes to this subject it's always stated, there is no way this will happen to me alot of horrible things are said about these people, all because they won the lottery, and we believe that to lose this money is stupid?? When I read these nasty comments, it makes me laugh, cause the emotions over money that is not even yours..can you im... [ More ]