I knew Pedro Quezada was a dinkhead and blow all that money..

Reply #19

sully16 — Thu, 14 Nov 2013 15:52:04 GMT

A fool and his money

Reply #18

helpmewin — Thu, 14 Nov 2013 15:27:05 GMT

Reply #17

KY Floyd — Thu, 14 Nov 2013 06:03:30 GMT

You're completely clueless about Pedro's situation or his prospects, but you've got plenty of company. He reportedly gave away $5 million, but even if he loses half of the after-tax net to his ex it still leaves about $50 million. From the reports we're seeing here, his only big expenditure is $300k for a house. That's an investment, even if it turns out to be a mediocre investment. Anything you see that suggests he's going to blow it all is simply your imagination.... [ More ]

Reply #16

THRIFTY — Wed, 13 Nov 2013 14:23:52 GMT

Winning the lottery was part of Pedro Quezada journey through life. We are not perfect. Can you imagine life without mistakes

Reply #15

mypiemaster — Wed, 13 Nov 2013 13:56:10 GMT

Don't be fooled by all the noise. Pedro is one smart hombre.

Reply #14

Teddi — Wed, 13 Nov 2013 10:58:17 GMT

Sorry, but once you invest your winnings properly, you'll come out ahead of the annuity. And since there are many winners who take the annuity and still end up bankrupt, annuity is no guarantee against blowing it all. A winner needs financial discipline no matter what.

But I'm curious as to why you feel he's blown his money. Where do you see any evidence of that? He capped out at the max he could gift without going over, so he didn't have to pay gift tax (so someone obviously advised him abo... [ More ]

Reply #13

CajunWin4 — Wed, 13 Nov 2013 04:27:19 GMT

The Lottery Winners who go broke within 10 years or less . Is letting the Money Control them instead of them Control the Money .

A fool and his money is soon Parted

Reply #12

ryanm — Wed, 13 Nov 2013 04:12:33 GMT

Taking the annuity instead of cash doesn't insulate against stupidity. Lottery winners might just end up borrowing against the future payments anyway.

Reply #11

helpmewin — Tue, 12 Nov 2013 10:58:13 GMT

Reply #10

mediabrat — Mon, 11 Nov 2013 18:26:58 GMT

What leads you to believe you can't leave instructions in your will regarding the disposition of an annuity? Any unpaid lottery annuities get passed on to your estate, so you should be able to dictate what happens to that money just as easily as any other assets, monetary or not.

Reply #9

helpmewin — Mon, 11 Nov 2013 18:25:28 GMT

Reply #8

tony869 — Mon, 11 Nov 2013 16:52:11 GMT

Yep and he will wind up on that show -- how the lottery ruined my life...

Reply #7

Lucky4Life — Mon, 11 Nov 2013 16:45:17 GMT

if you check back on the LP story where he said he would pay rent for his entire block that was pretty much the consensus of the entire LP family. I was the first to post on thei LP FB page saying he was going to go broke in 5 years. Now I know I was wrong. Less than 2.

Reply #6

weshar75 — Mon, 11 Nov 2013 00:15:57 GMT

I am 38 this year and in 30 years I will be 68. I think about taking the annuity at my age all the time but when the cash is offered to me I think I will take that instead because what happens if I don't get to be 68. Then my family fights over my leftover winnings. AT least if I take cash I can make a will and then tell everyone what they get from me instead of them fighting over the money.-weshar75

Reply #5

noise-gate — Sun, 10 Nov 2013 23:10:32 GMT

Well Tony: Its quite possible that Pedro knows exactly what his doing. By him sending money out of the country this may be part of his strategy for getting away from his ex, l don't know. Perhaps after he won, she came up with goofy ideas as to where he should stash the money and giving him some crazy investment ideas along with taking her other children in from previous relationships, buying houses for her family and friends.Perhaps even telling him that now is the time for him to go on one kne... [ More ]

Reply #4

Greg2117 — Sun, 10 Nov 2013 22:50:06 GMT

^ Simple mistake. This forum doesn't have a spell checker.

Reply #3

LottoNick56 — Sun, 10 Nov 2013 22:36:34 GMT

maybe

Reply #2

Greg2117 — Sun, 10 Nov 2013 22:29:24 GMT

Pedro would be 74 years old in 30 years. Quite a long wait to get your entire payout. And anyhting could happend between then. Maybe if you're in your 20's or 30's when you win, then maybe you could consider an annual payment.

Reply #1

billionaire2bee — Sun, 10 Nov 2013 22:15:08 GMT

EEEEEHHHH I dont know if I could sit still and wait to get that payout...but either way you go you've got to control yourself, learn how to say no and don't let your butt overload your wallet LOL

I knew Pedro Quezada was a dinkhead and blow all that money..

tony869 — Sun, 10 Nov 2013 19:55:56 GMT

I knew he was going to blow almost all that money when he come forward to fast without thinking and consulting with finanical team and etc! This is why if i ever win the big one i will go for the 30 year payout and consult with legal team and others.. You will get more if you pick the 30 year payout in either games..

State: Washington

Drawing Date: Wed, Nov 13, 2013

Jackpot: $110,000,000

Federal Tax: 25%

State Tax: No state tax on lottery prizes

Report: Pow... [ More ]