Winning the Lottery

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toggleswitch2

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This newspater is a complete rag. But I don't think they misreported this one.........

He's living my dream. *LOL*
That was supposed to be MY ticket.

*SIGH*

If I won I'd..............

Pay off the mortgages of all my relatives.
Give my mother and father, say $10,000,000 to be able to live off of the interest.
Set up trust funds to put all the kids through very good privates universities.
Donate money to my little tiny local church.(They dont preach hate or narrow-mindedness).
Donate to the Archdiocese.
Maintain a checkbook just for charitable donations.
Buy real-estate and stocks.
Become a citizen of the E.U. and reside in the UK, Greece, France and Italy (to start with........) then Canada and Australia.
I'd be very kind to those that showed me mercy and kindness and compassion.

and on a good day go to Brazil to visit Dr. Matagringos the plastic surgeon to lift it, fold it, tuck it, move it and remove it. (just kidding).



What would you do.....?

 
What would I do....Or what did I do?

Never tell a soul....
Now that does not mean that I won't help anyone....they would always wonder where did he get his money from....
Money is the root of all evil. It will make enemies out of anyone. Especially if they know you are loaded.
Brent
 
Great Expectations

I remember reading about a man that was murdered in Mo. months or years after it was publicized he had won. A440/Brent you pegged that one. NEVER tell. signed PIP
 
I saw this show

a year or two ago and it was a documnetary on lottery winners from the 70' 80's and 90's and what they had done with their millions over the years! It was a shocker, most I think, in fact over 95% of them, were now dirt poor. Five of them were living in shelters on welfare. They had all spent and managed it badly.
So I guess there is some truth to easy come easy go.

There is an old saying in our family "Its 3 generations from shirtsleeves to shirtsleeves"
 
Lottery

Last week here in Italy a (lucky?) guy won the most popular national lottery named Superenalotto. He won 100.000.000 euro... Not too bad uh?
 
In my state, I believe it is a condition of collecting lottery winnings that one must agree to be featured in advertising & publicity!

If one wins THAT big, can it be that hard to simply live off the interest only, without touching the principal?

Methinks the trick may be to live a humble lisfestyle and not show-off one's wealth.
 
If I ever won the lottery....

I would not tell anyone.
I would not allow media to tell anyone
I would donate the first 15% of it to my church
I would donate 5% to AIDS research and 5%to epilepsy research
I would send different amounts to the special people in my life(friends and realatives) annonamously)enough that they would be able to be comfortable the rest of their lives.
I would buy a nice house in the country somewhere where the climate is always warm.
I would travel (possibly take a long cruse)around the world with my dog and a few chosen friends and relatives who vowed to keep their traps shut.
I would open an appliance store and a chain of laundromats.
I would donate enough for all here in this club to show off their wares in the first,National Appliance Museum and sponsor numerous vintage appliance conventions world and nation wide.
I would write an autobiography titled "Dirty Laundry".The life and times of a devoted appliance fanatic.Which would basically be my life story on all I did and lived through being epileptic,appliance loving and gay and all I went through from birth to present.All proceeds of which would go to AIDS and epilepsy research and charities for runaway adolescents.
I would get a trainer and get back into good physical shape.
Breath
 
~I would buy a nice house in the country somewhere where the climate is always warm.

*LOL*
You in Tex-azz. Where woud'ja go that's warmer? South Florida. Soutern Californai? Arizona? Puerto Rico?

:-)
 
Southern California would be nice but I lived near Boca Raton,Fl and fell in love with a house right on the beach there. It had a cottage with it and a huge enclosed pool. The dock was big and the big house had two separate stairways that were spiral and huge glass block windows.The builder let me take a tour and I was breathless as I walked through. The cost back in 1998 was $5.7Million including the yaught docked at the pier.
 
Unfortunately the states vary in how much privacy lottery winners are entitled to. Here in California, you can't keep your identity hidden - your name and where you bought your ticket will be published. There was a series of articles on the subject a few months back.

Apparently the smart thing to do is to put all one's ducks in a row BEFORE going to the lottery office to present the ticket. That means: get a po box for an address. Even rent a motel room or second apartment for a temporary address. Get a temporary phone number (like a new cell phone). Do NOT agree to have your photo taken at the lottery office. Do NOT agree to any publicity that is optional.

DO opt for the lump sum payment. The reason is simple: there are predators that specialize in victimizing lottery winners - with enticing offers of cash now in exchange for future measured lottery payments. Invariable these are rip-offs - basically very high interest loans. And worded like credit card agreements so that even lawyers can't figure out what the real cost is until it's too late. By getting a lump sum, all at one, you're off the radar of these and other scam artists all the sooner.

Some states allow winners to remain anonymous. Some don't allow lump sum payments. Check your local lottery rules should you be so lucky to win. I think one might be well served to retain a good investment lawyer to help guide one through the pitfalls of a windfall.

As for telling family/friends. I guess one finds out who one's friends really are when you tell them that you gave all the winnings to charity. ALL the winnings. It doesn't have to be true, but it will let you know by their reaction how genuine they are.
 
most here will not believe me that I personally know two guys who hit the lottery,6 out of 6 numbers correctly picked. Yes, two guys. One hit the Texas lottery when he bought a ticket (quick pick) on the way home from work on an oil rig. I think he won around 2-3 million, the jackpot was low. The other guy hit 6 out of 6 in the Louisiana lottery which is a smalltime lotto if you ask me. His jackpot was $464,000 bucks after taxes. He is dead now but he spread that money out rather evenly with his family. The guy who hit the Texas lotto is in jail now for Methamphetamine possession. I hear that he spent up a big part of his lump sum payment that he chose on dope for he and his friends. Like it would never run out. But to tell you the truth, the guy who hit the La. Lotto might have broke even because he has has gambled and mortaged his home several times over the years to gamble at the horse races and to to pay back loansharks. He may have broke even after several failed marriages and trouble with the law and loansharks. What a life huh?
 
The lotto is a very bad gamble - statistically that is. I view it as entertainment, with a very slim possibility of a payoff.

$464,000 after taxes sounds about right for a million dollar jackpot. In most cases the fine print reads that the $1 million is only if you select the installment payments spread out over 20-30 years. These days financially that might not be such a bad option, since most investments have gone down in value. OTOH, money in the bank is always better than money promised. The other problem with the installments is that people who chose that option are the first targets for scam artists who will "loan" you a lump sum in exchange for the installments. It's never a good deal.

The lure of gambling however is difficult to resist. Winning a big prize can really skew one's point of view. I once won a car at a charity auction and I developed a rather unrealistic attitude towards winning other things... I didn't make any big bets but I realized that I was looking at the chances with very rose tinted glasses for a while. It just does that to you. This despite that I've some education in statistics and science and know that chance is simply a statistical equation. When something "good" happens one naturally wants it to continue, and there's a strong inclination to believe that it will continue for all sorts of stupid reasons, regardless of the realities.

Some people are able to win the lotto and not have it ruin their lives. I suspect they are the majority that we don't hear about. But probably for a sizeable minority it brings nothing but sorrow in the end.
 
My casual observance of lotto winners, "big spinners," etc. and ticket buyers is that a high number of them are not your average financially stable citizen. So when they win, they don't know the first thing about handling their money. Hence the gambling and speed sprees and ultimately losing everything.

One exception locally was an older couple who hit what was at the time the largest jackpot in California history, the ticket having been purchased less than a mile from where we lived. They became philanthropists and have contributed to the local arts over the years. They were both hard working, gainfully employed people and knew how to manage their money. An exception to the typical lottery player demographic, IMO.
 
An exception to the typical lottery player demographic, IMO

Oh, you mean the ones I used to see selling their food stamps for 50 cents on the dollar so they could buy cigs, beer, and, you guessed it, lottery tix. They even had their cards filled out and in a nice neat plastic pouch so they could use them over and over each day w/o filling out new ones.

Chuck
 
Ralph,

I'd hazard a guess that most Americans are not good with managing their financial affairs. This would help explain the on-going credit card balances, the paycheck to paycheck existence of people who have been employed for years, and the current home foreclosure mess. It would also explain why Americans have one of the worst, if not the worst, rate of personal savings in the developed world.
 
Perc, I live in a small town and I see people here skimping at the grocery store and yelling at their kids to "PUT THAT BACK, WE CAN'T AFFORD IT!", and then see them 3 hours later playing ever GOSHDAMNED lottery game available at the local corner store when I go in to get my beloved chocalate milk and Mountain Dew. Shame on them hypocrits. And God bless those hungry kids. And then to top the whole thing off, I see them at the local food bank bumming food and hand me down clothes. People like that should be turned in to social services, there are so many good people who really need that food and clothing from the food bank. Maybe Gamblers Anonymous should open up a food bank just for habitual gamblers?What are your thoughts on this my freinds?
 

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