Baltimore United States
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I came across this article in Maxim Magazine a while back. IT was a story on the nightmares that followed winning the lottery. It also has some important advice from the Sudden Money Institute, which "specializes in counseling big winners." Unfortunately, I cannot post the link to said article. However, if interested, please PM me. I welcome your comments.
Baton Rouge, LA United States
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Quote: Originally posted by SoBe Yourself on Sep 16, 2007
I came across this article in Maxim Magazine a while back. IT was a story on the nightmares that followed winning the lottery. It also has some important advice from the Sudden Money Institute, which "specializes in counseling big winners." Unfortunately, I cannot post the link to said article. However, if interested, please PM me. I welcome your comments.
I'd be curious to see it too. I ran Sudden Money Institute in Google and found their website:
United States
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thar was another lotto related article @ msn about sinning the lotto ... don't have the web adress might try and look it up later about putting together a simular type of game plan b4 even claiming it
PA United States
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Typical media, they feed off the few extreme negative cases, and ignore the majority who went on to having successful lives with little or no problems after a lottery win. You keep hearing the same few names over the years. Nothing that bad is going to happen to you unless you are a complete and total idiot, who never knew how to manage money or your life in the first place. Unless you are REALLY unlucky after being so lucky.
I welcome any stress associated with winning millions, as I have already been through the worst without having a dime. However unlike most who win I am actually prepared for my windfall, and have been preparing for years. I am also a disciplined spender who knows the value of money, and I find it ridiculous how most of these idiots who win cannot find anything better to use the money for than 20 cars and 10 houses.
As opposed to starting up successful businesses based on talents/hobbies that you enjoy doing, or simply doing nothing at all. Most just blow it all ridiculously. All these articles are nothing but "theories" based on extreme cases that rarely ever happen. The West's who won over $300 million do not seem to be having much of a problem yet. The media hates these types however, they are boring.
People who continue to slave away at their dead end jobs would much rather hear about lottery winner's failures than successes, because misery loves company. Which also creates more false justification for them not to play.
Baltimore United States
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Quote: Originally posted by sirbrad on Sep 17, 2007
Typical media, they feed off the few extreme negative cases, and ignore the majority who went on to having successful lives with little or no problems after a lottery win. You keep hearing the same few names over the years. Nothing that bad is going to happen to you unless you are a complete and total idiot, who never knew how to manage money or your life in the first place. Unless you are REALLY unlucky after being so lucky.
I welcome any stress associated with winning millions, as I have already been through the worst without having a dime. However unlike most who win I am actually prepared for my windfall, and have been preparing for years. I am also a disciplined spender who knows the value of money, and I find it ridiculous how most of these idiots who win cannot find anything better to use the money for than 20 cars and 10 houses.
As opposed to starting up successful businesses based on talents/hobbies that you enjoy doing, or simply doing nothing at all. Most just blow it all ridiculously. All these articles are nothing but "theories" based on extreme cases that rarely ever happen. The West's who won over $300 million do not seem to be having much of a problem yet. The media hates these types however, they are boring.
People who continue to slave away at their dead end jobs would much rather hear about lottery winner's failures than successes, because misery loves company. Which also creates more false justification for them not to play.
A few points to make. First off, these bad cases can be looked at as warnings for players like us on the potential downfalls associated with winning big money.
Second, there are some valuable ideas and important resources listed like the Sudden Money Institute. Helpful for me because I wouldn't want to stick all my winnings in the bank. I would need some help on allocating it so that I have a lot of it protected.
Third, it helps to be aware of companies like Stone Street Capital and others that are out to scam winners.
Finally, here's a paragraph on a kid who has done very well handling the winnings:
"California’s most recent Richie Rich is Colin McLean, a 25-year-old from Newport Beach who won $81 million in January. Seemingly the anti-Whittaker, McLean eschewed the traditional glad-handing press conference, instead offering the usual thank-God-and-must-help-those-less-fortunate-and-buy-a-new-car platitudes through his lawyer. “With everything going on in the world,” he announced, “I think it’s inappropriate to gain notoriety for [winning the lottery].” Though the odds and common sense are against McLean, Dr. Danish thinks his youth, lack of family commitments, and aversion to publicity could give him an advantage where o many before him failed."
PA United States
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Most of the information provided by all these articles is mostly common sense. Or perhaps it seems that way to me being I have studied lottery windfall preparation for many years. However it seems that most people who win do not have any clue what to do, and I doubt any of them who do win will ever even see these articles. They are not even smart enough to do an internet search probably.
Baltimore United States
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Quote: Originally posted by sirbrad on Sep 17, 2007
Most of the information provided by all these articles is mostly common sense. Or perhaps it seems that way to me being I have studied lottery windfall preparation for many years. However it seems that most people who win do not have any clue what to do, and I doubt any of them who do win will ever even see these articles. They are not even smart enough to do an internet search probably.
No doubt there. Many of these winners were just extremely lucky. If I won the big jackpot a few years ago, I probably would have been the same way.