Man's Last Lotto Ticket Wins 10M for Widow

Forums: Human Interest Stories, Lottery Winner, Casino, Pissing Away Money
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She does not yet know what she will do with the money.

"I've always wanted a Corvette, but I don't think I'll buy one. I'll stick to a small car. I might go to Mohegan Sun," she said, referring to the casino in Connecticut. "I'm going to go home and sit and think."

http://www.breitbart.com/article.php?id=2009-01-04_D95GIDU80&show_article=1&cat=breaking

So this 79 year old widow is considering taking her winnings, and going to a casino. Personally, I believe that her 2nd idea of going home and thinking makes a lot more sense.

It really bugs me when I hear about people coming into a lot of money, and proceeding to piss it away. There are so many positive things that can be done with a windfall.

What do you think?

What would YOU do if you won 10M?

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@Phoenix32890,

I just told Wally about this, and he said "So, it all worked out pretty well for her" Rolling Eyes

I'd be stunned for a while too. Plus, I'd feel all right about pissing some of it away.

Not in a casino though, that's really throwing it away. I'd have as much fun doing that as if I stood in front of a lit fireplace and threw hundred dollar bills in the fire.

My version of pissing some of it away would be to buy a carrera, I've always wanted one. And to get a personal shopper to go out and buy a bunch of clothes that would suit me. I'd decide what I'd want to keep, and have her return the rest. And get a housekeeper. I could sell my house and get a fancier one, using the profit from the sale, plus some of the winnings. That's about it.

Wow, I'm such a spendthrift, arent' I? Laughing

Thinking of the future, there's several people I'd like to set up trusts for. I have some ideas for helping others understand the economy, and how they can get out of debt, enrich their lives.

I'd want to promote exercise programs for children, as theirs getting to be such a problem with obesity.

Donating to some medical causes, research.

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The NYTimes did a follow-up on a bunch of lottery winners. They were all broke and unhappy within five-ten years. Most ended up divorced and estranged from family members. Many of them gambled away the money or wasted it on expensive items that became to expensive to keep, such as boats or large homes.

Most people who play the lottery are gamblers to start, so I'm not surprised people would continue to go that route. Gambling is about the anticipation of winning, not the winning itself. The thrill happens the second before the outcome - the money is not the point.

I don't buy any lottery tickets, so I guess my odds of winning are lousy. However, if 10 million came my way, I would travel some (not first class) and do a few fix-it things around the farm, mostly I would put a chunk of it into a conservative income producing investment. I would buy health insurance. I would give another chunk to charities that take care of animals and the environment. I would not allow it to change my life - that's for suckers.

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oh, and I'd get a pony with wings.

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Hmmm... first I'd pay taxes, then debt, then set up a chunky college fund for Mo.

With what was left over I'd buy a frozen yogurt and get back to normal life.

As to the rich widow -- she's 79, if she wants to play at the casino she should go play at the casino.

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@Phoenix32890,

(Respectfully, please note that 10M suggests $10,000
not $10,000,000. M = 1000 in Latin.)

That calls to mind the punishment of Tantalus,
to win on the day of his death; a bitter abuse at the hands of Fate.
That applies also to the widow, at THAT age.

The winner 's son made a lot of sense, in saying:
"He'd be very mad; he just passed away and she won a lot of money,"
said Brian Peters, one of the couple's three children.

Depending on how he felt about his heirs,
the bitterness might be assuaged.

Its better to win a good prize when u are able to ENJOY it.
That takes time.

If I won that prize, I 'd continue living as I have.
I enjoy life and deny myself nothing

David

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@Green Witch,

Green Witch wrote:

Quote:
The NYTimes did a follow-up on a bunch of lottery winners.
They were all broke and unhappy within five-ten years.
Most ended up divorced and estranged from family members.
Many of them gambled away the money or wasted it on expensive items
that became to expensive to keep, such as boats or large homes.

Yes.
As the statistic was presented to me,
it was something like about 80% of lottery winners
were 20% of their winnings IN DEBT after 5 years,
mostly resulting from bad investments instead of
living off of the prize itself. Many of them bought
several businesses that went sour; probably preceded by
a lot of headaches n heartaches.

That is NOT a good application of the prize money.

Investments shoud be very conservative,
like real estate, to guard against inflation.

Additionally, for security purposes,
and for warding off hoards of beggars,
a winner shoud not identify himself as having won the lottery.

David

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I have played the lottery since its inception and will continue to d0 so. I spend money that in an earlier lifetime would have gone to alcohol and tobacco. I have no illusions about winning, but I have a conviction that if I don't play I will have no chance to win. It does not deprive my family and it is something I am convinced has kept Texas from instituting a state income tax. At least this way, I have the potential to recover some of it.

If I were to win ten million, I would distribute some to deserving persons and causes, make sure I set up a program to keep me and my wife secure for the rest of our lives, and would also take a few trips, once around America, another to Paris and other points in Europe. Probably Japan, also.

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@Phoenix32890,

Phoenix32890 wrote:

It really bugs me when I hear about people coming into a lot of money, and proceeding to piss it away.

it's not your money. Why should it bug you? <shrug>

She wants to go to the casino, she should go to the casino. Since she wasn't the lottery ticket buyer, she probably wasn't the gambler to begin with.

~~~

Friends of the hamburgers just won 1M. Apparently their first lotto ticket, he bought it on a whim. They're well into their 80's. I can't imagine begrudging them any amount of fun they're going to have with the winnings.

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@Phoenix32890,

I would handle it differently. But that is me and the widow should be able to do whatever she wants. Aren't you the one who advocates peoples rights and the ability to do what they want?

1 Reply

@Green Witch,

Quote:

The NYTimes did a follow-up on a bunch of lottery winners. They were all broke and unhappy within five-ten years. Most ended up divorced and estranged from family members. Many of them gambled away the money or wasted it on expensive items that became to expensive to keep, such as boats or large homes.

I have read a number of studies that came up with the same conclusion. Most lottery winners ended up in worst straits a few years later, than they were before they won.

The problem is, that many people who buy lottery tickets have little idea of how to make money, and keep it growing. Some have been living from hand to mouth. The winnings are simply spent the same way the the person always spent, albeit on a grander scale. Also, relatives that they hadn't heard from in decades crawled out of the woodwork, all with their hands out.

I once read of an exception. Apparently a young man, who won a lottery, took the money, and enrolled in a course in business. Last thing that I heard, he was doing pretty well.

Years ago, I knew the guy whose mother won the 1st New York State lottery. At that time (in the 80's) a million bucks was a great deal of money. Problem was, she forgot th share her good fortune with Uncle Sam. (I would assume that they were not taking out taxes at that time). Her bank accounts were attached, and my friend had to drop out of college.

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@Intrepid,

Absolutely. I just have no patience for outright stupidity. People always have the right to do things that I consider stupid, and I have the right to be annoyed by it.

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@Phoenix32890,

Phoenix32890 wrote:

Absolutely. I just have no patience for outright stupidity. People always have the right to do things that I consider stupid, and I have the right to be annoyed by it.

The only stupidity I have no patience for is my own. Annoyances only shorten our lifespan. Smile

1 Reply

@Intrepid,

Intrepid- You are probably "on" to something. It just seems such a terrible waste when someone is handed a tidy sum on a silver platter, and then proceeds not to make good use of it.

I think that my reaction has something to do with fantasizing as to what I would do, had I won the money. I certainly would not drop it on a gambling table.

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@Phoenix32890,

Phoenix32890 wrote:

Quote:
The NYTimes did a follow-up on a bunch of lottery winners. They were all broke and unhappy within five-ten years. Most ended up divorced and estranged from family members. Many of them gambled away the money or wasted it on expensive items that became to expensive to keep, such as boats or large homes.

I have read a number of studies that came up with the same conclusion. Most lottery winners ended up in worst straits a few years later, than they were before they won.

The problem is, that many people who buy lottery tickets have little idea of how to make money, and keep it growing. Some have been living from hand to mouth. The winnings are simply spent the same way the the person always spent, albeit on a grander scale. Also, relatives that they hadn't heard from in decades crawled out of the woodwork, all with their hands out.

YES, Phoenix.

That 's right, as I pointed out
4 posts above yours.

David

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Man's Last Lotto Ticket Wins 10M for Widow

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