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Another lottery winner goes broke

Topic closed. 24 replies. Last post 11 years ago by justxploring.

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United States
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March 1, 2006
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Posted: May 12, 2006, 2:43 pm - IP Logged

Loser!

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    boca raton
    United States
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    May 12, 2006
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    Posted: May 12, 2006, 2:48 pm - IP Logged

    you're right...a part of what you said reminds me of a quote in the Bible...Its better to have never known Him...than to have known Him and rejected (lost) Him. 

    Regards,

    Cathy

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      Posted: May 12, 2006, 2:50 pm - IP Logged

      Sounds to me, like he got lost in the material world.

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        boca raton
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        Posted: May 12, 2006, 2:59 pm - IP Logged

        material things, drugs...etc.  how can a person spend 42 million dollars in 4 years? the whole thing blows my mind

        Regards,

        Cathy

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          BILOXI, MISSISSIPPI
          United States
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          August 3, 2005
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          Posted: May 12, 2006, 3:14 pm - IP Logged

          i saw that comming

            MillionsWanted's avatar - 24Qa6LT

            Norway
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            December 10, 2004
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            Posted: May 12, 2006, 5:31 pm - IP Logged

            Annuity would be a good choice for some winners.

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              NY
              United States
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              October 16, 2005
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              Posted: May 14, 2006, 3:47 pm - IP Logged

              If he had won it in a state that allows you to be anonymous, his life would have been completely different.

              This guy's problems aren't the result of the state requiring his identity to be revealed. There was an article about him in Playboy a couple of years ago. IIRC, he found out he had won very shortly after the drawing and began making calls immediately to start telling people. He would never have taken advantage of the chance to remain anonymous. Ultimately, he was a loser before he bought the ticket and he was just a rich loser after he won.

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                Morrison, IL
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                May 13, 2004
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                Posted: May 15, 2006, 12:42 pm - IP Logged

                you're right...a part of what you said reminds me of a quote in the Bible...Its better to have never known Him...than to have known Him and rejected (lost) Him. 

                lol That's the reverse of the old saying, "It is better to have loved and lost than to never have loved at all."

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                  Morrison, IL
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                  Posted: May 15, 2006, 12:43 pm - IP Logged

                  Annuity would be a good choice for some winners.

                  Actually, I don't know of any circumstances in which annuity would be appropriate. If someone is bad at managing money, odds are he or she will just borrow against the annuity anyway instead of blowing the lump sum.

                    justxploring's avatar - villiarna
                    Wandering Aimlessly
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                    November 5, 2005
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                    Posted: May 16, 2006, 4:27 am - IP Logged

                    Annuity would be a good choice for some winners.

                    Actually, I don't know of any circumstances in which annuity would be appropriate. If someone is bad at managing money, odds are he or she will just borrow against the annuity anyway instead of blowing the lump sum.

                    I Agree!

                    Definitely.  Many people end up paying one of those services that buy annuities because they can't live on the annual payments.  Blowing millions is mind-boggling, but I can see how someone can go through a lot of money in a short time. Still, a couple would have a serious drug or gambling problem to lose that much. Sad.