Welcome Guest
Log In | Register )
You last visited December 4, 2016, 5:20 pm
All times shown are
Eastern Time (GMT-5:00)

Winning Money vs Earning Money

Topic closed. 25 replies. Last post 10 years ago by emilyg.

Page 1 of 2
PrintE-mailLink
justxploring's avatar - villiarna
Wandering Aimlessly
United States
Member #25360
November 5, 2005
4461 Posts
Offline
Posted: October 17, 2006, 1:04 am - IP Logged

Many people will earn millions in their lifetimes, especially couples.  If a young husband and wife each earns over $50,000 and continue to work, they will get increases and surely make $4 or $5 million over 30 years.

The majority of doctors and dentists earn well over $200,000 a year.  This type of income is not uncommon for executives and business owners.  That's more than $6 million in 30 years, not counting investments and other income.

We all know that movie stars often get several million for just one picture. Supermodels can get paid thousands per day. TV personalities like Jay Leno and David Letterman make millions in salary every year...forget the Howard Sterns or the sports superstars. 

So what is your opinion of why lottery winners are hounded by the press, harassed by relatives and often stalked by strangers - even those who win "only" $5 or $10 million?  People seem to view winning money very differently than making it at a job or in real estate, or even in the stock market.  Money is money (you can quote me on that wise remark! LOL)  So a person who hits a $30M dollar jackpot isn't really all that rich compared to many other people like George Lucas who in just 2005 earned an estimated $235M.

    Coin Toss's avatar - shape barbed.jpg
    Zeta Reticuli Star System
    United States
    Member #30470
    January 17, 2006
    10347 Posts
    Offline
    Posted: October 17, 2006, 1:30 am - IP Logged

     Justxploring

    "Many people will earn millions in their lifetimes,"

     That's why they hound lottery winners....because it comes to them all at once, one fell swoop....

      justxploring's avatar - villiarna
      Wandering Aimlessly
      United States
      Member #25360
      November 5, 2005
      4461 Posts
      Offline
      Posted: October 17, 2006, 1:36 am - IP Logged

       Justxploring

      "Many people will earn millions in their lifetimes,"

       That's why they hound lottery winners....because it comes to them all at once, one fell swoop....

      Okay, but then it has to last them for a lifetime.  Don't you think people look at winning the lottery as "easy money" so there is more jealousy and resentment than if someone made the money working 40 hours a week?

      I know people who never spend a dollar on the lottery but would expect me to give them money. I'm not saying they are wrong or I wouldn't help them, but they have no problem telling me it's a crazy waste of time and money and then they'll still want their share.

        Coin Toss's avatar - shape barbed.jpg
        Zeta Reticuli Star System
        United States
        Member #30470
        January 17, 2006
        10347 Posts
        Offline
        Posted: October 17, 2006, 2:11 am - IP Logged

        For one thing, the folks you mentioned in the OP, those who become well off working for it....people know of them but do not actually know them, but the neighbor next door or the co-worker that hits a jackpot, well that's a lot different.......people know them by name, might have their phone numbr, etc....

        As for people that tell you the lottery is a crazy waste of time, etc...whenever someone says, "Do you know the odds against winning? That's like getting struck by ligtning twice, etc...", I tell them:

        "You know what? the odds are a whole lot better if you have a ticket than if you don't" 

        As far as people expecting you to give them money, in everything I've seen or read about jackpot winners those winners say that every person they gave money to came back looking for more, bar none.

          BobP's avatar - bobp avatar.png
          Dump Water Florida
          United States
          Member #380
          June 5, 2002
          3102 Posts
          Offline
          Posted: October 17, 2006, 2:14 am - IP Logged

          Okay, but then it has to last them for a lifetime.  Don't you think people look at winning the lottery as "easy money" so there is more jealousy and resentment than if someone made the money working 40 hours a week?

          I know people who never spend a dollar on the lottery but would expect me to give them money. I'm not saying they are wrong or I wouldn't help them, but they have no problem telling me it's a crazy waste of time and money and then they'll still want their share.

          My advice is to put a million of your winnings into a joint checking account with a check book for everyone who demands a share, tell them they have to share, when it's gone that's it.  Move far away.

          BobP

            Coin Toss's avatar - shape barbed.jpg
            Zeta Reticuli Star System
            United States
            Member #30470
            January 17, 2006
            10347 Posts
            Offline
            Posted: October 17, 2006, 2:20 am - IP Logged

            A bar room scene from Goodfellas is coming to mind here...

              justxploring's avatar - villiarna
              Wandering Aimlessly
              United States
              Member #25360
              November 5, 2005
              4461 Posts
              Offline
              Posted: October 17, 2006, 3:51 am - IP Logged

              Which one?  I've seen it many times.

                truecritic's avatar - PirateTreasure
                Michigan
                United States
                Member #22395
                September 24, 2005
                1583 Posts
                Offline
                Posted: October 17, 2006, 5:24 am - IP Logged

                I am not too sure that movie actors and other "rich" are not hounded for loans/donations in the same way that lottery winners are.  Mostly, I think, we don't hear about it.

                  tntea's avatar - Lottery-059.jpg

                  United States
                  Member #5344
                  June 30, 2004
                  23641 Posts
                  Offline
                  Posted: October 17, 2006, 7:21 am - IP Logged

                  For one thing, the folks you mentioned in the OP, those who become well off working for it....people know of them but do not actually know them, but the neighbor next door or the co-worker that hits a jackpot, well that's a lot different.......people know them by name, might have their phone numbr, etc....

                  As for people that tell you the lottery is a crazy waste of time, etc...whenever someone says, "Do you know the odds against winning? That's like getting struck by ligtning twice, etc...", I tell them:

                  "You know what? the odds are a whole lot better if you have a ticket than if you don't" 

                  As far as people expecting you to give them money, in everything I've seen or read about jackpot winners those winners say that every person they gave money to came back looking for more, bar none.

                  As for people that tell you the lottery is a crazy waste of time, etc...whenever someone says, "Do you know the odds against winning? That's like getting struck by ligtning twice, etc...",

                   

                  I like to see them with the hung jaw after I win three draws in a row on pick 3 or pick 4..  They are like, "how do you do that?"...

                       OLD/Vtrac   Lottery Bible         Double Warnings      Thumbs Up TN F34/F44

                    TheTruth's avatar - Lottery-063.jpg
                    Detroit, MI
                    United States
                    Member #43946
                    July 27, 2006
                    365 Posts
                    Offline
                    Posted: October 17, 2006, 8:18 am - IP Logged

                    As for people that tell you the lottery is a crazy waste of time, etc...whenever someone says, "Do you know the odds against winning? That's like getting struck by ligtning twice, etc...",

                     

                    I like to see them with the hung jaw after I win three draws in a row on pick 3 or pick 4..  They are like, "how do you do that?"...

                    lol, I agree wit you Tntea! The odds aren't against you if you know how to play the game, strategic lottory players don't play to lose, we play to win. The way I see it, these people who supposedly work hard for their money arn't really working all that hard...they just know how to turn a popular situation (i.e acting) and make it profitable for them...It's ingenous the way its done because these so called "hard workers" work for a few months at a time in some exotic location shooting a film that the whole world is going to see. Most people work for the same amount of time, traped in some cubicle making much, much less.

                    People would like to believe that these actors work hard, sweat and tears but if you looked beyond that they really don't. They are financially literate, they have this skill that many millions of americans do not posses coupled with their talent.

                    "The happiest moment of your life will be the moment it ends...thats because it doesn't end but goes on in ways so magnificent, so full of peace - wisdom - and joy, as to make it difficult to describe  and impossible for you to comprehend"

                    God

                      sirbrad's avatar - Lottery-062.jpg
                      PA
                      United States
                      Member #22983
                      October 6, 2005
                      2226 Posts
                      Offline
                      Posted: October 17, 2006, 9:32 am - IP Logged

                      They also assume that the lottery winner will lack responsibility, and be more generous since they think the lottery winner did not really earn their win. Some do however, especially system players such as myself. But they are an extreme minority it seems.

                        Coin Toss's avatar - shape barbed.jpg
                        Zeta Reticuli Star System
                        United States
                        Member #30470
                        January 17, 2006
                        10347 Posts
                        Offline
                        Posted: October 17, 2006, 10:09 am - IP Logged

                        Which one?  I've seen it many times.

                        Re: Goodfellas, BobP suggested a joint checking account and letting them go at it....in Goodfellas remember after the airport job they all bought their girlfriends minks and cars....they showed up in that bar and DeNiro's character wnet nuts because he had told them to keep a low profile.

                         Re: a joint checking account, there would probably be a very huge argument about who gets to hold the checkbook. 

                          Avatar
                          New Jersey
                          United States
                          Member #21206
                          September 4, 2005
                          949 Posts
                          Offline
                          Posted: October 17, 2006, 10:19 am - IP Logged

                          The news covers lottery winners because it is good marketing for the lotteries.     

                          People approach lottery winners because of a variety of reasons that are not mutually exclusive.    Rightly or wrongly, some people believe there is a mystical connection to the lottery.  They want the luck to rub off.  Some people assume that lottery winners - who have to have no special skills to win - are rubes who can be manipulated or easily fooled out of their money.  (Often they are right.)  Some people assume that lottery winners do not "deserve" their winnings, although one can question why someone who inherits a lot of money "deserves" it, as well.  People often justify theft by claiming that the victim, in this case the lottery winner, really didn't deserve what they received.

                          One thing that probably causes a lot of problems for lottery winners is that the actual money won and the advertised amount constantly repeated in media reports are very different.    First there's the matter of the annuity, which cuts the actual winnings by 50%, give or take a few percentage points.  Then there's taxes.

                          We hear all the time about lottery winners whose lives have been ruined by the lottery.  We don't hear about those who did well with winning the lottery, since those people shy away from the public eye.    The best thing that can happen to a lottery winner is to be unknown.  If that isn't possible the next best thing is to be forgotten.

                          Anyone who wins the lottery should take it very slow and take some time before acting on anything.  This is often difficult in a time of excitement, but it is wise nonetheless.    It is not winning the lottery that will make you a good or bad person.    It's what you do with it that will determine that. 

                            Lotterologist's avatar - lightbulb
                            Lotto City, Michigan
                            United States
                            Member #36256
                            March 30, 2006
                            1472 Posts
                            Offline
                            Posted: October 17, 2006, 10:29 am - IP Logged

                            "So what is your opinion of why lottery winners are hounded by the press, harassed by relatives and often stalked by strangers - even those who win "only" $5 or $10 million?"

                            -----------------------------------------------------------------------------------------

                            For the same reason that MANY millionaires and famous people are hounded by the press, stalkers, and family.

                            The FIRST reason is FAME...the SECOND reason is CASH MONEY!!!!  lol Big Smile

                              time*treat's avatar - radar

                              United States
                              Member #13130
                              March 30, 2005
                              2171 Posts
                              Offline
                              Posted: October 17, 2006, 12:59 pm - IP Logged

                              The combination of celebrity culture and entitlement mentality cause many to believe they can impose themselves into the lives of other people. Some do it for greed, some for their own career ambitions (all those aspiring actresses, singers, etc. that go on "reality TV" come to mind.), and some are just nuts. With TV cameras everywhere and 24hr "news" to fill, the press will put anything on. They don't suffer any material consequence if someone gets hurt... Hey! That's another news story. Details right after a word from our sponsor.

                              In neo-conned Amerika, bank robs you.
                              Alcohol, Tobacco, and Firearms should be the name of a convenience store, not a govnoment agency.