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ABC 20/20 Lotto lives airing.

Topic closed. 64 replies. Last post 9 months ago by hhh1200.

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TheMeatman2005's avatar - lightening
Brooklyn, NY
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Posted: February 6, 2016, 3:52 am - IP Logged

Maybe the lotteries should make it a requirement that upon winning, you need to watch all the videos of all the people that won millions only to lose it all and end up penny-less.

Hopefully, it won't end up happening to you!

Good luck

The Meatman

“The quickest way to double your money is to fold it in half and put it in your back pocket.” Will Rogers

Winning happens in a flash, Like A Bolt Of Lightning!  Patriot

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    Posted: February 6, 2016, 4:16 pm - IP Logged

    These are grown adults so the Lottery has no responsibility on their spending habits and financial management, in fact the lottery does have a guide hand book on there website on what to do if you won the lottery jackpot and in fact she was used as an example in the guide book with her picture in it.   

    Stafford even said in the segment that she didn't want to splurge her spendings and end up with nothing well that's what happen.  Also the powerball was recently at 112 million and no winner.

      SergeM's avatar - slow icon.png
      Economy class
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      Posted: February 6, 2016, 4:39 pm - IP Logged

      I'd be happy with monthly 3000 indexed.

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        Posted: February 6, 2016, 5:03 pm - IP Logged

        The majority of people who win the lottery go on to be quite happy and do not lose it all or are murdered. Those that do lose their money/die are a small minority.

          MsLottery's avatar - Lottery-065.jpg
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          Posted: February 9, 2016, 1:07 am - IP Logged

          She definitely filed for bankruptcy and her home is in foreclosure. If you look at her house on the 20/20 clip and then go to Zillow and look up foreclosures in Pacific Palisades you will see her house listed on Patterson.

            sookie's avatar - nw femalewiz.jpg

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            Posted: February 9, 2016, 5:19 am - IP Logged

            Just put the money in the bank and live off the interest.  It is really beyond me how people can lose tens of millions of dollars.

            You can buy a $200k or $300k home, nice car, take vacations.. Have mini shopping spree the first year with a set limit of $20k.   

            You can make not one dime in interest and pay yourself $75k a year and STILL have millions when you die 50 years later.

            i just don't get it.

              savagegoose's avatar - ProfilePho
              adelaide sa
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              Posted: February 9, 2016, 7:43 am - IP Logged

              May 2007 to January 2016 to run through millions of dollars.  Buying what? I wonder.  She was set for life and blew it.

              2008 was the financial crisis, i can  guess where half that money went.

              2014 = -1016; 2015= -1409; 2016 JAN = -106; FEB= -81; MAR= -131; APR= - 87: MAY= -91; JUN= -39; JUL=-134; AUG= -124; SEP = -123; OCT= -84  NOV=- 73 TOT= -3498

              keno historic = -2291 ; 2015= -603; 2016= JAN=-32, FEB= +12 , MAR= -86, APR = -77. MAY= -48, JUN= -29, JUL=-71; AUG = -52; SEPT= -43; OCT = +56 NOV = -33 TOT= -3297

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                NYC
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                Posted: February 9, 2016, 7:50 am - IP Logged

                She definitely filed for bankruptcy and her home is in foreclosure. If you look at her house on the 20/20 clip and then go to Zillow and look up foreclosures in Pacific Palisades you will see her house listed on Patterson.

                Her house is listed there alright. Even her silver Bentley is parked in the driveway. And it's been on and off the market since Jan/2015. The house looks small for an almost $3 million price. Must be because of the location. She should have gone with something cheaper.

                 

                http://www.zillow.com/homedetails/739-Patterson-Pl-Pacific-Palisades-CA-90272/20540907_zpid/

                  MsLottery's avatar - Lottery-065.jpg
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                  Posted: February 10, 2016, 8:13 pm - IP Logged

                  Her house is listed there alright. Even her silver Bentley is parked in the driveway. And it's been on and off the market since Jan/2015. The house looks small for an almost $3 million price. Must be because of the location. She should have gone with something cheaper.

                   

                  http://www.zillow.com/homedetails/739-Patterson-Pl-Pacific-Palisades-CA-90272/20540907_zpid/

                  You are correct, Sole. That part of LA is extremely expensive. It sits adjacent to Malibu just a little further down the coast. Parts of the Palisades have tremendous views of the mountains and Pacific ocean.

                    Teddi's avatar - Lottery-008.jpg

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                    Posted: February 12, 2016, 9:35 pm - IP Logged

                    Her house is listed there alright. Even her silver Bentley is parked in the driveway. And it's been on and off the market since Jan/2015. The house looks small for an almost $3 million price. Must be because of the location. She should have gone with something cheaper.

                     

                    http://www.zillow.com/homedetails/739-Patterson-Pl-Pacific-Palisades-CA-90272/20540907_zpid/

                    I disagree. I have a feeling that if she had purchased something for half the price, she'd still be in the exact same position she's in now. Let's keep in mind that she never actually bought the house outright. She had a mortgage. But whether she took out a mortgage or owned it, she still shouldn't have been broke within 7 years.

                    And if she couldn't afford to pay her mortgage in 2014, she shouldn't be driving around in 2 Bentleys in 2016. Just the upkeep and insurance alone would have her hemorrhaging money.  The $200,000 in handbags should have been on eBay. 

                    Obviously this is not someone who understands the concept of downsizing. 

                    Even though she thought she was going to meditate herself into another JP win, she needed to take some financial responsibility.

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                      Posted: February 12, 2016, 10:46 pm - IP Logged

                      You are absolutely correct. This issue here is, she funded her film company with the entire $25M, which explains why she had a mortgage on a home she should have paid for cash in hand. No matter what she did, she still goes broke, given all the movies and projects lost money.  I read one movie project had a budget of $20M.  Now, multiple other expenses times 9 years.  She grew up in LA, or it's obvious she always wanted to be a star or rub elbows with them.  From day one she was always taking photos with celebrities and showing up a film festivals.

                        MsLottery's avatar - Lottery-065.jpg
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                        Posted: February 13, 2016, 12:07 am - IP Logged

                        You are absolutely correct. This issue here is, she funded her film company with the entire $25M, which explains why she had a mortgage on a home she should have paid for cash in hand. No matter what she did, she still goes broke, given all the movies and projects lost money.  I read one movie project had a budget of $20M.  Now, multiple other expenses times 9 years.  She grew up in LA, or it's obvious she always wanted to be a star or rub elbows with them.  From day one she was always taking photos with celebrities and showing up a film festivals.

                        I couldn't agree more. She bought her way to access the celebs and high-end business people of Los Angeles by making that donation to the Geffen. There are many pictures of her with celebrities that you can find online. Sun Smiley

                         

                        My question is will those that she was hob-nobbing with still give her the time of day.Leaving Group Hug Now that she is essentially broke will they remove her from the board of the Geffen? Lurking

                          Candlelight777's avatar - nw saucyelf.jpg
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                          Posted: February 13, 2016, 9:20 am - IP Logged

                          I can not imagine what it must feel like to have that much money in your hands after a win like that...and what it must now feel like to be broke again only 7 years later. The meltdowns this woman must be having has to be overwhelming. It would have been better had she'd not won at all then to have to live with the fact that she foolishly blew through every penny in a very short amount of time. For some reason it's as if she thought she could never spend it all and would be set for life....WRONG!! A responsible person would have easily been set for life and never had to worry again for anything money wise. Sad Sad story

                          "Without wood a fire goes out; without gossip, conflict calms down.

                          Like adding charcoal to embers or wood to fire, quarrelsome people kindle strife."

                          Proverbs 26: 20-21

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                            boston,ma
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                            Posted: February 13, 2016, 10:49 am - IP Logged

                            You are absolutely correct. This issue here is, she funded her film company with the entire $25M, which explains why she had a mortgage on a home she should have paid for cash in hand. No matter what she did, she still goes broke, given all the movies and projects lost money.  I read one movie project had a budget of $20M.  Now, multiple other expenses times 9 years.  She grew up in LA, or it's obvious she always wanted to be a star or rub elbows with them.  From day one she was always taking photos with celebrities and showing up a film festivals.

                            It's hard to feel sorry for people who don't think rationally. After splitting the money with her father and brother, I think she walked away with around 16 or 17 million, after taxes. (112,000,000, payout about 70,000,000, minus 30% for taxes she's left with 48,000,000 and split 3 ways is around 16,000,000 each). Watching her on TLC and watching her shop for jets, I knew she was going to end up broke and if she didn't spend it all her no good husband would(speaking of which, he wasn't even address in the show..wonder why?).

                            I understand people have dreams but you need to keep your dreams realistic. Winning 16,000,000 would set you for life with good planning. It's not enough money to do everything she tried to do. Investing that money conservatively would have brought around 500,000 a year for life before taxes, there was no need to try to live the high life like she did. My plan is to take 70% of whatever I won and invest it and live off the interest. The other 30% would be used for buying a house, money for the kids in a trust fund, charity, some money for the family and miscellaneous things like travel etc.

                            It is such a shame she mis-managed her money, I hope she put some aside for the kids future. Also, no word on her brother and father. I wonder what they're up to?

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                              Posted: February 13, 2016, 11:43 am - IP Logged

                              She would have been taxed the highest. Which was 35 % in 2007 for single filing over $350,000.  CA has no state tax so she got lucky on that. Cash payment from $112 mill was $66 mill (from USA mega analysis). So she ended up with about $44.5 million. Still a good chunk of money to last her multiple lifetimes. There is no info on how much she gave to her father/ brother. And if she invested $25 mill into her movie production, then that was big mistake.

                              Moral of this story and other winners who ended up at the bottom. LEARN SELF-CONTROL, MONEY MANAGEMENT, and PLAN FOR THE FUTURE.