He won't be the first and or the last instant amass of money ppl attained without earning it through time most likely will lose it. "Mentally broke"
$27M Powerball winner from 2001 dies broke and alone
- Thread starter Hotlantan
- Start date
Daaaayuuuuum!!! One of these folks was smokin' $3,000 in crack everyday!!!!
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100 percent hood nigga mindset
how the fuck is it "hood nigga mindeset"? if id rather have money that i won fair and square all up front instead of installments? not everybody is gonna blow through 27 million is 6 years. if you cant spend your money wisely and u need uncle sam to give u an allowance of your own money every year then thats on you. me im a grown ass man and can handle that myself
Some of these financial advisors are prone to give bad advise.
Scott Eyre
Scott Eyre, World Series champion, pitcher for the Philadelphia Phillies
Estimated lifetime earnings: $10 Million
Eyre, like many of us, was taken for a fool during last year’s stock market/investment madness. His money grew tied up in the $8 billion fraud allegedly perpetrated by Texas financier Robert Allen Stanford. Eyre told the New York Post that 99% of his fortune is frozen and possibly gone. After admitting that he was broke, the Phillies agreed to advance Eyre a portion of his $2 million salary.
I can think of a few things as to why I disagree:
-Taxes. Do I want a high tax bracket for 1 year or 20?
-Death. Certain states don't pay out once you die and won't transfer winnings to your beneficiaries.
-Bankruptcy. If a state goes the way of Detroit, good luck battling out with the rest creditors to get your loot.
And one more: time value of money. Your loot is worth more today than years down the road.
Some of these financial advisors are prone to give bad advise.
Scott Eyre
Scott Eyre, World Series champion, pitcher for the Philadelphia Phillies
Estimated lifetime earnings: $10 Million
Eyre, like many of us, was taken for a fool during last year’s stock market/investment madness. His money grew tied up in the $8 billion fraud allegedly perpetrated by Texas financier Robert Allen Stanford. Eyre told the New York Post that 99% of his fortune is frozen and possibly gone. After admitting that he was broke, the Phillies agreed to advance Eyre a portion of his $2 million salary.
dam
I can think of a few things as to why I disagree:
-Taxes. Do I want a high tax bracket for 1 year or 20?
-Death. Certain states don't pay out once you die and won't transfer winnings to your beneficiaries.
-Bankruptcy. If a state goes the way of Detroit, good luck battling out with the rest creditors to get your loot.
And one more: time value of money. Your loot is worth more today than years down the road.
The arrogance of the government will lead you to believe that paper money will retain its same value in the next decade or two. Look at gas. It is refined, shipped, and processed the same, but purchasing $1 of gas five years ago won't get you the same amount of gas today.
wow...i remember this dude...
I can think of a few things as to why I disagree:
-Taxes. Do I want a high tax bracket for 1 year or 20?
-Death. Certain states don't pay out once you die and won't transfer winnings to your beneficiaries.
-Bankruptcy. If a state goes the way of Detroit, good luck battling out with the rest creditors to get your loot.
And one more: time value of money. Your loot is worth more today than years down the road.
- depends on your situation, its not automatically a negative.
- all states allow you to create a trust fund to receive your annuities if you die before the 20 to 26 year pay out period.
- US States cant go bankrupt. State lotteries cant go bankrupt as the state's property can be used as collateral. besides, the winners are paid by the losers, and there will never be a shortage of them.
i challenge anyone to get a constant 8% return on their money by taking a lump sum rather than the annuities.
and again, you too failed to comprehend what i wrote.
cot damn whats wrong with you cats.
how the fuck is it "hood nigga mindeset"? if id rather have money that i won fair and square all up front instead of installments? not everybody is gonna blow through 27 million is 6 years. if you cant spend your money wisely and u need uncle sam to give u an allowance of your own money every year then thats on you. me im a grown ass man and can handle that myself
Inflation. Forgot that one.
shit that nigga lived the life i aint made at him.
I'm gettin a penguin, A Lamborghini Reventon, and a Koala Bear!!
I would pay my ex girlfriend to learn the saxophone, buy Jada Fire, and then pay her to play the saxophone while I bust a romantic nut in my new expensive baby mamma. And as I bust I will yell out "Yuuug Muuuuuunny!"
- depends on your situation, its not automatically a negative.
- all states allow you to create a trust fund to receive your annuities if you die before the 20 to 26 year pay out period.
- US States cant go bankrupt. State lotteries cant go bankrupt as the state's property can be used as collateral. besides, the winners are paid by the losers, and there will never be a shortage of them.
i challenge anyone to get a constant 8% return on their money by taking a lump sum rather than the annuities.
and again, you too failed to comprehend what i wrote.
cot damn whats wrong with you cats.
What you fail to realize that while your money is locked up in an annuity you're being exposed to inflation risk. Me, I would take the lump sum knowing that I can invest in vehicles that protect against inflation. Your '8%' return may not be real in an annuity because your purchasing power could be eroded due to inflation.
But take that annuity...
I remember this guy on that I won the lottery show. All that money corrupted him like Gollum.
--- Sent from Hoodphone using RealniggaTalk
All that money corrupted him like Gollum.--- Sent from Hoodphone using RealniggaTalk
Daaaayuuuuum!!! One of these folks was smokin' $3,000 in crack everyday!!!!
Sent from my SCH-I545 using Tapatalk
Andrew “Jack” Whittaker
Winnings: $315 million
Time until bust: 4 years
Whittaker may have been the wealthiest man ever to win a major lottery jackpot. When the 55-year-old West Virginia construction company president won a $315 million Powerball jackpot in December 2002 — at the time, the largest jackpot ever won by a single ticket — he was already worth some $17 million. And Whittaker knew to distribute his new mega-wealth, pledging to give 10 percent of his fortune to Christian charities, donating $14 million to his Jack Whittaker Foundation, and even giving a $123,000 house, a new Dodge Ram Truck, and $50,000 in cash to the woman who worked at the convenience store where he had purchased his winning ticket.
But even Whittaker couldn’t escape his own demons. Beset by legal difficulties and personal problems, he began drinking heavily and frequenting strip clubs. On Aug. 5, 2003, thieves stole $545,000 from his car in a West Virginia strip club parking lot while he was inside. In January 2007, Whittaker reported to the police that thieves had completely emptied his bank accounts. On Jan. 25, 2004, robbers once again broke into his car, stealing an estimated $200,000 in cash that was later recovered. And a string of personal tragedies followed. On Sept. 17, 2004, his granddaughter’s boyfriend was found dead from a drug overdose in Whittaker’s home. Three months later, the granddaughter also died of a drug overdose. Her mother, Ginger Whittaker Bragg, died five years later on July 5, 2009. Whittaker himself is alleged to be broke — a claim he made as early as January 2007 for failing to pay a women who successfully sued him. He’s also being sued by Caesars Atlantic City casino for bouncing $1.5 million worth of checks to cover gambling losses. “I wish I’d torn that ticket up,” he sobbed to reporters at the time of his daughter’s death.
Read more: The Unlucky Winners | The Tragic Stories of the Lottery’s Unluckiest Winners | TIME.com http://newsfeed.time.com/2012/11/28...he-lotterys-unluckiest-winners/#ixzz2mbYXwDxw
Some of these financial advisors are prone to give bad advise.
Scott Eyre
Scott Eyre, World Series champion, pitcher for the Philadelphia Phillies
Estimated lifetime earnings: $10 Million
Eyre, like many of us, was taken for a fool during last year’s stock market/investment madness. His money grew tied up in the $8 billion fraud allegedly perpetrated by Texas financier Robert Allen Stanford. Eyre told the New York Post that 99% of his fortune is frozen and possibly gone. After admitting that he was broke, the Phillies agreed to advance Eyre a portion of his $2 million salary.
Why would someone invest 99% of their fortune?
[FLASH]http://c.brightcove.com/services/viewer/federated_f9?isVid=1&isUI=1" bgcolor="#FFFFFF" flashVars="videoId=2698068235001&linkBaseURL=http%3A%2F%2Fnewsfeed.time.com%2F2013%2F09%2F26%2Fpowerball-lottery-winners-call-it-a-curse%2F&playerID=1917933886001&playerKey=AQ~~,AAAAABGEUMg~,hNlIXLTZFZn-NQOazMchMDWH0SI1hX7f&domain=embed&dynamicStreaming=true[/FLASH]
The “Curse of the Lottery” is a psychological study to some, a predictable outcome to others, and an unknown phenomenon to many. Here are five examples of winners that probably wish they hadn’t won in the first place:
1. Kenneth and Connie Parker
Happily married for 16 years, Kenneth and Connie Parker quickly watched their marriage disintegrate months after they won the $25 million jackpot. According to ABC News, Kenneth’s “wife turned cold, kicked him out of the condo they had bought, and told him she was keeping all the money.” It was an abrupt ending to what seemed to be a strong marriage.
2. Michael Carroll
After winning 9.7 million British Pounds (about $15 million), Michael Carroll thought he would be set for life. Reportedly “angry at his life of excess,” his wife, Sandra, left Michael about a year after he won the jackpot and took their baby daughter Brooke with her, according to Mail Online. Now, eight years later, Carroll has squandered all of his earnings on drugs, gambling and prostitutes. He is now just as poor, if not worse off, than he was when he started.
3. Billie Bob Harrell Jr.
After winning $31 million in the Texas lottery, Billie Bob, thought he had it all. Struggling to support his wife and teenage children on his Home Depot salary, the winnings seemed a blessing to Harrell. In 1997, he and his wife celebrated in their living room after finding out they had won the jackpot. Two years later, unable to take the pressure of constantly lending money to friends and lamenting the strained relationships in his family, Harrell shot and killed himself in a bedroom at his Kingwood, Texas, home.
4. Jeffrey Dampier
Hailing from Chicago, Ill., Jeffrey Dampier was the lucky winner of a $20 million prize from his home state’s lottery in 1996. He reportedly spent most of his earnings on those around him, even sending 38 members of his family on a seven-day Carribbean cruise. His sharing didn’t stop there: He also bought houses and cars for his parents and siblings, but not everyone showed their appreciation. In 2005, Victoria Jackson, Dampier’s sister-in-law, kidnapped and murdered him, leaving his body in his truck.
5. Jack Whittaker
At the time of his lottery victory, Jack Whittaker had the highest jackpot ever in the American lottery, with a single ticket at $315 million in the Powerball multi-state lottery. After he won, Whittaker donated a lot of money to churches and charities, but this did not stop the curse from following him. First, $545,000 in cash was stolen from his car while Whittaker was at a strip club. A second time $200,000 was stolen and later recovered. These problems were minor compared to what happened next. His granddaughter’s boyfriend was found dead in Whittaker’s home, reportedly from a drug overdose. As if one death wasn’t enough, several months later, Whittaker’s granddaughter was also found dead from a drug overdose. Five years later, Jack’s daughter and mother to his deceased granddaughter was found dead as well.
These five cases are not unique to lottery winners. In fact, there are multiple other stories similar to this one. Next time you think all your problems would be solved by winning the lottery, think again.
1. Kenneth and Connie Parker
Happily married for 16 years, Kenneth and Connie Parker quickly watched their marriage disintegrate months after they won the $25 million jackpot. According to ABC News, Kenneth’s “wife turned cold, kicked him out of the condo they had bought, and told him she was keeping all the money.” It was an abrupt ending to what seemed to be a strong marriage.
2. Michael Carroll
After winning 9.7 million British Pounds (about $15 million), Michael Carroll thought he would be set for life. Reportedly “angry at his life of excess,” his wife, Sandra, left Michael about a year after he won the jackpot and took their baby daughter Brooke with her, according to Mail Online. Now, eight years later, Carroll has squandered all of his earnings on drugs, gambling and prostitutes. He is now just as poor, if not worse off, than he was when he started.
3. Billie Bob Harrell Jr.
After winning $31 million in the Texas lottery, Billie Bob, thought he had it all. Struggling to support his wife and teenage children on his Home Depot salary, the winnings seemed a blessing to Harrell. In 1997, he and his wife celebrated in their living room after finding out they had won the jackpot. Two years later, unable to take the pressure of constantly lending money to friends and lamenting the strained relationships in his family, Harrell shot and killed himself in a bedroom at his Kingwood, Texas, home.
4. Jeffrey Dampier
Hailing from Chicago, Ill., Jeffrey Dampier was the lucky winner of a $20 million prize from his home state’s lottery in 1996. He reportedly spent most of his earnings on those around him, even sending 38 members of his family on a seven-day Carribbean cruise. His sharing didn’t stop there: He also bought houses and cars for his parents and siblings, but not everyone showed their appreciation. In 2005, Victoria Jackson, Dampier’s sister-in-law, kidnapped and murdered him, leaving his body in his truck.
5. Jack Whittaker
At the time of his lottery victory, Jack Whittaker had the highest jackpot ever in the American lottery, with a single ticket at $315 million in the Powerball multi-state lottery. After he won, Whittaker donated a lot of money to churches and charities, but this did not stop the curse from following him. First, $545,000 in cash was stolen from his car while Whittaker was at a strip club. A second time $200,000 was stolen and later recovered. These problems were minor compared to what happened next. His granddaughter’s boyfriend was found dead in Whittaker’s home, reportedly from a drug overdose. As if one death wasn’t enough, several months later, Whittaker’s granddaughter was also found dead from a drug overdose. Five years later, Jack’s daughter and mother to his deceased granddaughter was found dead as well.
These five cases are not unique to lottery winners. In fact, there are multiple other stories similar to this one. Next time you think all your problems would be solved by winning the lottery, think again.
Always given to the wrong people......
He had a financial planner and lawyer but didn't listen to them.
how the fuck is it "hood nigga mindeset"? if id rather have money that i won fair and square all up front instead of installments? not everybody is gonna blow through 27 million is 6 years. if you cant spend your money wisely and u need uncle sam to give u an allowance of your own money every year then thats on you. me im a grown ass man and can handle that myself
Your reasoning behind it there's nothing wrong with wanting it all upfront .. it was .almost like those people who don't fuck with banks... because they don't "trust" them you were on some.. you want it all upfront.. because they might go broke and not pay you. just reminded me of some folks I knew..
He was richer than 99% of rappers and still went broke so all these rappers will be broke in a few years too since only a handful of them have 5 mil liquid cash but they spend like there's no tomorrow.
I'll buy a nice house in L.A (some where warm)and spend that 85k a month fucking bitches in Brasil, Colombia, Dom Rep.
I'll buy a nice house in L.A (some where warm)and spend that 85k a month fucking bitches in Brasil, Colombia, Dom Rep.
Yep.
Zero sympathy for white people who fail under this white supremacist system. Especially after you lucked up and had a 27 mil lump sum land in your lap on top of all the other advantages you already had.
you fail to realize that i wrote : if you CAN do better with the lump sum do it, but MOST FOLKS CANT.
all of this is dependent on circumstances, and they change.
but again i say: MOST FOLKS CANT HANDLE THE LUMP SUM, because it takes training and experience, which most people have neither of.
fuck
is
WRONG
with
you
cats?
it does not take a genius to understand that everything i wrote is accurate. you motherfuckers read one fourth of a sentence then want to show how bright you are, not realizing it shows your reading comprehension in on a first grade level.
as soon as I saw that lear jet purchase I was like . That lottery win was a lot of money, but lear jets are for rich people who have lots of money still coming in, or Ted Turner type money... 27 mil winners. You can live real nice on that shit and be generous, etc... even after taxes (edit: I see 27 mil was the post tax amount), but why buy some shit that cost big money even when you aren't using it.
. That lottery win was a lot of money, but lear jets are for rich people who have lots of money still coming in, or Ted Turner type money... 27 mil winners. You can live real nice on that shit and be generous, etc... even after taxes (edit: I see 27 mil was the post tax amount), but why buy some shit that cost big money even when you aren't using it.
Or straight up thieves...
I can understand why some cats would rather be like
Floyd!Zero spent just stacking it, look at the room decor, this dude is scared to do anything with the money but sleep on stacks!
I remember him. Watched him on that lottery show.
Fucked up. Lottery must be a curse.
I often wonder what would happen to me if I came into that kind of money.
Fucked up.
Lottery must be a curse. I often wonder what would happen to me if I came into that kind of money.
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