big Lotto win makes her life worse

[Debbie]

Britain's youngest EuroMillions winner wants to sue lotto organisers after jackpot made her life worse


http://www.nzherald.co.nz/world/news/article.cfm?c_id=2&objectid=11799674


Granted she was very young when she won but surely she must see that for the most part the money went to her head, boobs, lips etc and she changed.

The rules for her bf were so OTT.

5. Try to avoid eye contact with girls at all times.

 

[4est_4est_Gump]

Someone has studied Lotto winners and it seems that the majority end up dead, broke or both...



Maybe there should be some sort of a 12-step program for the winners to teach them how to handle it.

 

[Ishmael]

Someone has studied Lotto winners and it seems that the majority end up dead, broke or both...



Maybe there should be some sort of a 12-step program for the winners to teach them how to handle it.

The benchmark is 5 years, just like cancer. Hmmmm?

Ishmael

 

[4est_4est_Gump]

But you spend most of it being very popular with the strippers and drug dealers.

 

[Ishmael]

But you spend most of it being very popular with the strippers and drug dealers.

Con artists, hucksters, 'investment' managers, IRS, the usual suspects.

Ishmael

 

[4est_4est_Gump]

And the loss of friends. They will come to you for money. If you do not loan it to them, then you lose their friendship. If you do loan it to them, they begin to resent the idea of paying it back based on the assumption that you don't need it and they deserve it every bit as much as you did.

 

[someoneyouknow]

And the loss of friends. They will come to you for money. If you do not loan it to them, then you lose their friendship. If you do loan it to them, they begin to resent the idea of paying it back based on the assumption that you don't need it and they deserve it every bit as much as you did.

That's the great about not having friends. You don't have to worry about them asking for money.

As to this case, I can't speak to England, but in the U.S. there are numerous, legitimate, financial services once can avail themselves of if they should come into such a fortune. Not using one of them is your own fault.

Also, if you think you have to spend that money because of what you've seen on "reality" shows, you deserve to go broke and live a miserable life. Self-control is one of the hallmarks of an adult. It might be wise to use it.

 

[4est_4est_Gump]

The Lottery is a tax on the stupid. Putting the money into stocks is what makes sense in a mathematical sense.



It's almost a no-brainer that the winner of a lottery will possess none of the mental tools or life experience to make good decisions. The only exception to the rule that I have observed seems to be the older, mature working person who continues to show up to work and pretty much leaves his/her wealth to their children and grandchildren.

 

[someoneyouknow]

The Lottery is a tax on the stupid. Putting the money into stocks is what makes sense in a mathematical sense.

I play the lottery on occasion, but I am also pouring money into different retirement accounts as well. Not everyone who plays is stupid, especially those who win.

Though this woman fits the stereotype to a T:

http://www.pennlive.com/news/2017/01/woman_charged_with_threatening.html

 

[4est_4est_Gump]

To clarify, I did not imply that everyone who plays is stupid. That does not mean that it is not a tax on the stupid.

 

[Conager]

To clarify, I did not imply that everyone who plays is stupid. That does not mean that it is not a tax on the stupid.

I have never played but I had a friend convinced me 25 years ago that playing a single lottery ticket per week is a reasonable investment. His rationale was there are no other fantasies of that magnitude that you can purchase for $2.

Since he did not suffer from innumeracy, he very well understood that buying two tickets would not be similarly justifiable, because it would not improve one's odds appreciably.

The state having a lottery is immoral. I can't understand why liberals aren't livid about such a regressive tax. Just like the liquor industry the lottery depends on support by people who really should stay away from it. I haven't seen any numbers on it but anecdotally I regularly see people buying multiples of scratcher tickets and Lotto picks. A cursory glance suggests to me that they're spending a significant portion of their discretionary income.

 

[water505]

Lotteries are the only voluntary tax administered by government. If someone wants to flush money down the toilet it's their business.

Unfortunately many big winners can't manage themselves or their huge financial windfall and aren't smart enough to hire a reputable professional who can do it for them.

Ain't no laws against being stupid.

 

[4est_4est_Gump]

Let me point out that as far as investment or voluntary tax go, you don't see the wealthy playing the lottery like you see the poor playing it.

 

[Conager]

Let me point out that as far as investment or voluntary tax go, you don't see the wealthy playing the lottery like you see the poor playing it.

That's why it's a regressive tax. I was talking to a client the other day that was scratching off several tickets that he had with him. He said words to the effect you have to win eventually because someone has to win. Even with odds of winning printed on them it's beyond the comprehension of most of their customers.

I just looked at the Arizona Lottery's page on the Powerball and the only reference it has two odds is a vague statement that your odds of winning a cash prize are approximately one in 24.

AZ if your odds of winning the major prize are anything less than astronomical.

 

[4est_4est_Gump]

The other sophism that drives me crazy is you can't win if you don't play...

 

[JerichoEd]

The Lottery is a tax on the stupid. Putting the money into stocks is what makes sense in a mathematical sense.



It's almost a no-brainer that the winner of a lottery will possess none of the mental tools or life experience to make good decisions. The only exception to the rule that I have observed seems to be the older, mature working person who continues to show up to work and pretty much leaves his/her wealth to their children and grandchildren.

True. But that train of thought mostly comes from age, experience, and wisdom.

In my youth, I would have blown most all of it. Today, I would utilize a long term payout arrangement. Considering after the various taxes of the US only allows for actual 1/3 to 1/2 of actual money in hand combined with the public sensationalism of 'That guy is rich! He hit the lottery'!', I would spend most of the 1st payment(s) sheltering myself from public attention. Then focus on necessities me and mine (with limits) need before going into the safest investments that can bring in more money over time. Primarily real estate. I would continue to work in some fashion, but not too publicly.

It should be a universal law not to publicly announce winners names and pictures of them. But that could bring scrutiny on accountability to lotteries.

 

[KingOrfeo]

Lotteries are usually -- not always, but usually, for statistical reasons -- won by lottery players, that is, by people who buy many tickets every week.

And lottery players are idiots when it comes to money. It's no surprise that when they get it they can't handle it.

A lottery is a tax on people who can't do math.

 

[Typo Fu Master]

$10 a week in a jar = about $500 yearly. Guaranteed. I like those odds. But people would rather risk it on a chance to win more. Just like gambling in a casino.

I've never been motivated to play the lotto. As I understand it, you have a better chance of being struck by lightning.

 

[Mello_SixtyNine]

Someone has studied Lotto winners and it seems that the majority end up dead, broke or both...



Maybe there should be some sort of a 12-step program for the winners to teach them how to handle it.

Everyone ends up dying. Statistically though, about 30% of lottery winners will piss away their money within 5 years.

 

[Conager]

Lotteries are usually -- not always, but usually, for statistical reasons -- won by lottery players, that is, by people who buy many tickets every week.

And lottery players are idiots when it comes to money. It's no surprise that when they get it they can't handle it.

A lottery is a tax on people who can't do math.

Speaking of idiots....

Buying more than one lottery ticket does not increase your odds of winning in any statistically significant way. Also, each lottery drawing is a completely independent event and prior events have absolutely no effect on your odds of winning. Doesn't matter if you played every time for the last 6 years or it's the first time you played, your odds of winning are exactly the same

So no. Regular lottery players or those that buy more than a single ticket are not "usually" the winner, because math. Very, very basic math.

The only thing that all lottery winners or even most lottery winnerz have in common is that they purchased at least one ticket.

 

[Colonel Hogan]

Here's my favorite part of this story:

"YO, JANIE!! You say all that money ruined your life. So to rectify the situation.......you're gonna sue 'em. ROTFLMAO!!

How much, you stupid little tart?

Seriously, I hope you win so we can see how fast you run through the second windfall."

 

[OldJourno]

That's why it's a regressive tax. I was talking to a client the other day that was scratching off several tickets that he had with him. He said words to the effect you have to win eventually because someone has to win. Even with odds of winning printed on them it's beyond the comprehension of most of their customers.

I just looked at the Arizona Lottery's page on the Powerball and the only reference it has two odds is a vague statement that your odds of winning a cash prize are approximately one in 24.

AZ if your odds of winning the major prize are anything less than astronomical.

Yeah, I live in Arizona and the number of tickets and scratch offs you can buy is more than I'd care to find out. In grocery stores that have lottery ticket dispensers as big as soft drink machines.
I've bought Powerball tickets maybe five times in my life, always as an impulse at a convenience store. I have never hit even one number of those drawn.
The worst is waiting in line at the C-Store while some idiot at the counter shops for tickets and scratch offs.

 

[duranman]

I never understood anyone winning it who didn't want to be incognito. Possibly the organisers offer more money to publicise it but it's always gonna cause trouble

 

[MNGuy]

That reminds me, I haven't paid a stupid tax in awhile. I should buy a ticket this week.

I'll skip buying a candy bar and get a ticket instead. I wish I would hurry up and win, I am four and a half years from being able to tap into my 401(k) and retiring. Yes, invest first in yourself - 401(k), stock and bonds, property, and have adequate cash, use the lottery ticket purchase to frivolous purchases like you would for a candy bar.

 

[Nezhul]

Money gives you a lot of options that you don't have unless you are rich.
If you put your mind to it, you can use the money to change your life for the better drammatically.
Sadly, this means that if you are a stupid person, then money will allow your stupidity to flourish and get you all sorts of trouble.