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What not to do?

Topic closed. 17 replies. Last post 8 years ago by SmoothJuice.

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United States
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June 19, 2008
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Posted: February 22, 2009, 3:58 pm - IP Logged

I think this would fall under the category of what not to do if you win?

http://www.cnn.com/video/#/video/us/2009/02/22/in.assets.auctioned.off.wthr

 

I can't imagine buying all of that stuff just because I won the lottery....


    United States
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    February 18, 2008
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    Posted: February 22, 2009, 4:45 pm - IP Logged

    You can't take your money with you so you might as well spend it on stuff you like.On the other hand,who needs ten beds and all of those statues?There wasn't a whole lot of stuff at that auction that tripped my trigger.When I first saw all of the stuff being auctioned I thought of David Edwards and the expensive junk that he bought.

      bashley572's avatar - starwars14
      West Side of Sunny Florida
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      September 8, 2007
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      Posted: February 22, 2009, 4:58 pm - IP Logged

      Yea, but the story never said much at all about WHO was the person and what happened?  Other than they were forced to sell it.  Reporters now a days seem to just give the 'flash' of the story but not the real story.

      Money won is twice as good as money earned!

        hearsetrax's avatar - 0118

        United States
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        Posted: February 22, 2009, 7:07 pm - IP Logged

        Roll Eyesnot to sound heartless .... who ever s/he/they was ....... its all over but the tears and trying to make best with what they got after the auction company gets thar's

         

        No Pity!if only cause I know I'd probably have to hire barret-jacksonthat is  if I got that foolish Embarassed

          diamondpalace's avatar - Untitled 2.jpg
          Dallas, TX
          United States
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          Posted: February 22, 2009, 7:15 pm - IP Logged

          What? No Maserati?

            GamerMom's avatar - tails

            United States
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            Posted: February 22, 2009, 8:54 pm - IP Logged

            that is just rediculous.  How many beds and sets of dishes do you need???? I would go broke from cosmetic procedures and dining out before I would buying stuff i could never possibly use. 


              United States
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              Posted: February 22, 2009, 8:58 pm - IP Logged

              I could definitely find better ways to spend my money.....

                DelmarvaChick's avatar - wallace
                Ohio
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                December 20, 2008
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                Posted: February 22, 2009, 9:57 pm - IP Logged

                I used to know a guy who had a house filled with this kind of stuff.  He however was a doctor, who owned a couple of businesses, conducted research and had 20 patents under his belt...ie: pleanty of residual income in addition to his "regular" job. He said he loved art and turned his house into his own personal gallery. I guess if you can, and that's your thing...why not? I think I would embellish my "thing" too but buying a horse and taking vacations to go snowboarding don't quite compare to the excess in this video

                  Guru101's avatar - rw6jhh
                  Indiana
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                  January 7, 2007
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                  Posted: February 22, 2009, 10:30 pm - IP Logged

                  That video isn't informative enough to come to a reasonable conclusion.

                  Gonna win.Big Smile

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                    Posted: February 22, 2009, 11:12 pm - IP Logged

                    IDIOTS!!!

                    There's a lottery book that's out and it quotes: "Lottery winners are usually the most uneducated when it comes to money".   

                     

                    Fortunetely we can learn from their mistakes.

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                      Posted: February 22, 2009, 11:14 pm - IP Logged

                      That video isn't informative enough to come to a reasonable conclusion.

                      Actually, they're showing the the conclusion.   Lottery winner went broke and now they're selling his/her items.

                        ThatScaryChick's avatar - x1MqPuM
                        Idaho
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                        Posted: February 23, 2009, 12:06 am - IP Logged

                        I think this would fall under the category of what not to do if you win?

                        http://www.cnn.com/video/#/video/us/2009/02/22/in.assets.auctioned.off.wthr

                         

                        I can't imagine buying all of that stuff just because I won the lottery....

                        I wonder if that was David Lee Edwards stuff. It looks like some of the things that he liked to buy.

                        "No one remembers the person who almost climbed the mountain, only the person who eventually gets to the top."

                          grengrad's avatar - nw rogue.jpg
                          Raleigh
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                          Posted: February 23, 2009, 3:04 pm - IP Logged

                          The act of buying this stuff by itself is not necessarily irresponsible. People was just as much or more money on sport cars.

                          The fact that the person could not afford to keep it on the other hand, displays that they might have been overspending.

                          On the other hand, with the way the market has gone you really do not know. This person might have thought they had a safe nestegg, and now their stock holding have been split in half, and their dividends to almost nothing. Now, they are selling their stuff and maybe even their house to move to a smaller place and live out their life at more modest standards.

                          We really do not know.


                            United States
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                            Posted: February 23, 2009, 3:50 pm - IP Logged

                            I Agree! This lottery winner could have trusted his/her attorney and/or financial adviser and took a beating in the stock market.It happens all the time to athletes,actors and musicians.

                              GamerMom's avatar - tails

                              United States
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                              Posted: February 23, 2009, 3:55 pm - IP Logged

                              I Agree! This lottery winner could have trusted his/her attorney and/or financial adviser and took a beating in the stock market.It happens all the time to athletes,actors and musicians.

                              exactly why i'm scared to invest my $$$!!!  I wish the FDIC would insure up to 1 million