Lottery Winner & Bankrupt?!

[AnimeSpirit]

Wow! That's quite a story and I totally believe it. If I were Jack, I would've brought that $2k/week allowance to his granddaughter to a screeching halt the first time I heard the word "drugs."

For the most part, the smartest thing you can do when you win the lottery is keep it to yourself! It is fun to hold that big check up in front of the camera and smile for the tv audience of millions of potential vultures looking for a piece of your exceptionally large pie. Unfortunately, it may cost you your privacy for the rest of your life because the dumb requests will never stop.

If you want to build churches, GREAT! Donate anonomously! It is not necessary to make it so publically known that YOU built that nice church on the corner. Dedicating it in person only makes you a target. It also helps to wait many months before doing something that big with your money. Give the rumors of your newfound wealth time to fade into memory (while simultaneously waiting for the vultures to set their eyes on some lottery winner other than you).

People suing you left and right because you're suddenly rich? That's a tough one to beat without totally keeping your wealth a secret, which isn't a bad idea. I'm with Jack on that one. People are GREEDY!!! They will sue if you sneezed in their direction because you have money and they want some of it and they will try to get the legal system to make you fork it over! Take care who knows about your money, but the best thing you can do is tell NO ONE.

One of the first things I'd do after winning the lottery (as I discussed before) is getting a nicer home. Make a suitable down payment and get a decent mortgage rate for it. Do NOT leave a forwarding address from your old home. Just let all of your friends know what your address is yourself. This will make it harder for the vultures to bug you by mail. Remove your name from the telephone listings because you're practically a celebrity now. If you go out in public, don't dress like a million bucks. That just makes you a mugger's target. Wear comfortable stuff and give yourself the appearance like you just got off the night shift.

Also remember, lottery gaming records are NOT private. Anyone can look up who the winners of each drawing are. Ignorance of this fact will filter out SOME of the less intelligent vultures.

This is all crazy stuff that lottery winners shouldn't have to do, I know. But Jack's story is one we should learn from. It's funny how people who earn their millions naturally (business owners, entertainers, etc.) rarely have as much a problem, but some have adjusted to it and live fairly normal lives.

[Santabot]

Originally Posted by Isabella

You are very wise for your age.

I don't believe this is a well-deserved comment from somebody who simply quoted a news article. This is not to say that Anime is not intelligent himself, but you seem to be a very open and baseless cheerleader of these forums for your friends, just over minuscule posts they make. Sorry but I had to interject.

I enjoyed the article, though, makes a lot of sense, there isn't too much money management being had by especially the youth of America, but that's not to say anybody needs lectures or courses on it, it's their own situation to seek advice and information regarding money matters, just like education or anything else, in my eyes. A fool and his money are deservingly parted, so let it happen. This is how America has been continually holding a large hose that siphons their wallets by corporations.

[AnimeSpirit]

I posted a link to an article when I posted this thread. However, I merely glanced over when I found it to confirm it had the info I needed. I never actually read the article myself, so I couldn't actually quote from it. The first post I dropped when I started this thread was full of accumulated knowledge and common sense tips that I've come across over my years. But I, technically, did not quote anyone in writing it.

[Santabot]

Originally Posted by AnimeSpirit

I posted a link to an article when I posted this thread. However, I merely glanced over when I found it to confirm it had the info I needed. I never actually read the article myself, so I couldn't actually quote from it. The first post I dropped when I started this thread was full of accumulated knowledge and common sense tips that I've come across over my years. But I, technically, did not quote anyone in writing it.

Oh, my mistake, I thought you posted the source and quoted the information below, I didn't click the link for the article because I saw a large block of text under it.

Then I agree with your post, rather than the (what I thought was an) article.

[AnimeSpirit]

Very mature of you to agree. I suppose you could call it an article if you like. I wrote it on the fly because someone mentioned lottery winners going broke in another thread and I thought it would be a useful thing to post.

I've worked in casinos before so I've been edcuated on gambling habits and basic financial management.

[Santabot]

Originally Posted by AnimeSpirit

Very mature of you to agree. I suppose you could call it an article if you like. I wrote it on the fly because someone mentioned lottery winners going broke in another thread and I thought it would be a useful thing to post.

I've worked in casinos before so I've been edcuated on gambling habits and basic financial management.

Well I am agreeable to a lot of things, you know, haha.

It's just that like I've said in my address, I've been selecting posts to participate in, and those have mostly been those to which I'll start flame wars or discredit people's information. As long as people don't try to wreck me because they see my name and avatar anywhere I post, I'll be more consistent in positive and negative comments to others