No Money, Mo Problems
Alright, how do thieves clean out your bank account?
1. If someone gains illegal access to your account and withdraws the money, I don't know of any major bank that doesn't cover theft.
2. If it wasn't a wireless hijacking of his account, his signature would at the very least be needed to withdraw funds. Or were these people he had on the account? People he gave his account information to?
I need more deets because that makes no sense to me.
I assume this guy has brains because he had already been worth $17M before winning. Money he earned, not money that was given to him. So how is it he wins a jackpot and starts acting like he doesn't have a lick of sense? Don't leave half a mil in cash in your car when you're at a strip club. Common sense 101.
its people like this who prove my point that we can never reach a poverty free society. smart people will learn to earn money from stupid people and stupid people will gladly pay it to them only to complain later after they are broke that life isnt fair. stupid people will always exist and there will always be someone smarter. poverty is forever.
If you do not have the mindset to handle the issues that can arise simply because of the notoriety and attention that you would naturally attract, that, in and of itself will cause huge problems for someone. If you also do not have the mindset to manage or learn to manage such amounts of money, and you also do not have self discipline and sound judgment, this is also causes problems. People DO change when money is involved. And typically it is the other people around you. All of a sudden you can find that people who you may consider close family and friends will suddenly think you owe them something and will act accordingly. Should you not give them what they want, you may find that you now have those same people as obstacles if not outright enemies.
When I win, just like FredDerf said, the prize will definitely be claimed through a corporate entity or trust. This should apply to anyone who has substantial assets - All substantial assets such as real estate, vehicles will be purchased also under a corporate entity or trust. THAT is how truly wealthy people live. You see the things they want you to see.
obviously, the most important thing to do is claim the prize anonymously through a blind trust, corporation, etc. - if for no other reason that you won't have a bunch of leeches, i mean reporters, following you around waiting to glory in your every mis-step - what gives them the right anyway?
Why is it that when you start a business nobody ever warns you not to make millions of dollars? Wouldn't that put you in the same spot as these guys?
All the stuff I just read up their of how these people spent and lost their money these people obviously could not handle it because it seems the stuff they used the money on was so dumb. The smart thing I would do have multiple bank accounts collect what ever interest I can off the earning and use that as like spending money. Maybe by a House and a car. Give to my immediate family to pay of bills. Other than that If its your win its your choice of who your money is going to and who you chose to give it to. People just automatically believe that because its a family member then won too that is not the case. If I won It would be my win I would help my immediate family and if there is something they want they can ask for it as well as far as this goes if I ever won like 90 million or close to that cleared I would do like I said Interest it , Open a business, buy new house and a car and help parents and immediate family this money is not for long lost cousins that come out of no where. Everyone doesn't have to be stupid with there money these people couldn't handle it I am sure there are so many other people who have ideas dreams like me rather than buying a stupid boat or waste on nonsense.
@LLbud212 The very point of having extra cash is the freedom to spend it on things you wouldn't normally be able to afford. What's the point in having millions if you can't enjoy it? If you're bored and have nothing better to do, I suppose you could start your own business, but why? You could probably make more by prudent investing with less risk. These people get targeted by scam artists. You open up a business someone will come in and trip on your floor just so they can sue you since they know you have it. Whole lot of lottery winners opened up their own businesses, and the majority of them not just go broke, but they lose all their investments and get sued or swindled by their "business partners" on top of it. End up with less than they had before they won. It probably would have been better if they bought the boat and got some fun out of their winnings at least.
why, with 90 million bucks, would you open a business ?
what's wrong with giving yourself a boat ? well within the budget.! ?
dont give a whatever really, i will win the lottery and do the oposite of the people that did bad stuff with the money.
I was watching Oprah some years ago about lottery winners. There were stories like these of course and there was also some success stories and one of them who did it right found a reliable website with advice on what to do upon winning a lottery. Perhaps it makes a difference if one does have the common sense and self-restraint to take a breather to at least think about their logical next step rather than follow their heart.
A lot of these people say "winning the lottery was the worst thing that ever happened to them". No. It was your poor decision making that did you in, geniuses
@djmeyer IKR? Jack Whittaker kept leaving large sums of cash in his car and is surprised got robbed. After the first time, it should have been a lesson. Instead he did it again. That was stupidity plain and simple. He didn't deserve to get any of it back. Plus, his granddaughter was a drug addict and instead of paying for rehab he gave her an unlimited allowance. Who couldn't see that end result coming a mile away?
Yes, my first thought was that all suffered from stupidity.
Getting some humility is a real tough job sometimes.
How about an article about winners who successfully managed their winnings? These examples just show how crucial a good education and a little self-control can be.
MissMandrake said it best. The one consistent characteristic of all these winners is stupidity. It's like giving a handgun to a 2-year-old.
William Post III ... Winnings: $315 million ... Post won $16.2 million in the Pennsylvania lottery in 1998 ... “Everybody dreams of winning money, but nobody realizes the nightmares that come out of the woodwork, or the problems,” Post said in 1993
I'd fire your proofreader.
@reddonnaann Laundromat with top or side loading washers?
See, these people are idiots. I would contact my financial advisor, get 25% of it socked away immediately, pay off the house I'm in and buy passive income property, like a parking lot or laundromat. AFTER that, there is some spending to be done, but keep I'd mouth shut that I'd won and save, save, save. Spend a little, save a little, spend a little, save a little... lather, rinse, repeat.
It's common sense to use your financial advisor if you've got that much money coming in. Would you do your own knee surgery or build your own 747 jet? No, because you're not qualified.
@reddonnaann Unless you live in only one of 5 states that allow you to claim your winnings anonymously, whether you keep your mouth shut or not, your picture and your name would still be out there. In some states a press conference about the win is mandatory. But I agree with everything else you said. Get a financial advisor and a lawyer. Create corporations so businesses and even charities aren't in your name.
It's all good in moderation, invest, dont go overboard and maintain like you did before, money cant buy happyness but it can get you piece of mind spent sparingly !
It isn't the wealth that did them in, it was the freedom that wealth offered for their desires (and general idiocy) to run rampant.
SIMPLE IS A PRIZE OF 500 MILLION EUROS! TEN MILLION PEOPLE TO PLAY HIM, NOW GIVE THIS AWARD, FOR THE MONEY The TB GIVES TO KILL, BUT WHAT MATTER IS TO BE A GAME TO CLEAN OUT LUCK, OR ELSE TB THAT LOOK LIKE ME TO THOSE UNFORTUNATE THAT NEVER WON A PRIZE IN LIFE, PEOPLE'S MONEY TO BE DELIVERED TO WHOM THE UNHAPPY AND THAT HATES It TO DEAL IN MANY UNHAPPY WITH LITTLE LUCK.
@EmanuelAlvesPortugalSilva Why are you SHOUTING IN ALL CAPS??? It's really annoying and hard to read.
If you report the negative you must report the good. Doing this will give broad insight about how to properly handle large sums of money and let it work for you and not against you. It can be done. One thing that I would advise is NOT to stop working. When you begin spending (pouring out) and not bringing nothing in your fortune will disappear quick. Keep a stream of income coming in while you are putting out and monitor what you are spending. Lastly, don't tell everyone it wont make you special all of a sudden if you were not special before it happened!
@DarleneWilliams How are you going to keep working if all your coworkers know you're rich? It's not going to happen. You're going to have to move.
@DarleneWilliams @technoreaper Sorry, but you're incorrect. 45 states REQUIRE that your name be made public once you go to collect your winnings. There's no way around that. It isn't about who chooses to divulge their names or not. Considering the threats that new winners often times face from total strangers, I really believe that this requirement is going to get someone kidnapped or killed one day. But for now, the majority of the states require public notifications, and others require you to give press conferences.
@rmcmahon2 Excellent ideal! I will remember that...
True with my state, too. Way around it is to set up a trust, and
let your lawyer go the lottery office.
1. You want to tell me that if you won $315M you're going to keep working? If you really feel that you cannot live the rest of your life on $100M - $300M then you shouldn't bother to play. And what job pay package do you have that you can conceivably blow through a hundred million and have your job provide you with enough to live on?
2. The lottery commission does not ask your permission to reveal your name. In all but 5 states, revealing your name is mandatory if you go to claim the winnings. So don't bother to assume you have that option. Your friends, family and coworkers will know you won and how much you won.
Why are some people just so snotty about the lottery? Especially the overeducated ones? We all know there's a very slim chance we'll win, you don't have to tell us that. It's a dollar or two, and a dream. Quit being negative.
So it's not the lottery that hurt these people. It was their own self-destructive natures. Maybe money can buy happiness, if you use it right.
What I find most amusing is your negative reporting of this, as some kind of a curse. Why don't you also report on the lottery winners, who are still living, and have not squandered away their winnings. I guess that would not be as interesting of a story?
@YaegerJackson The author's not reporting on the ones who are happy because the article isn't about them. The article is about disabusing people of the notion that "if I win the lottery, there's no way it can go wrong!" This should be obvious, were you capable of reading comprehension.