Exe's picture

Exe

image

OMG I won 12 Million on Lotto 649!!!!!!

Went to Casino Rama recently and was intrigued to watch a man stuffing $100 bills into THREE $100 a pull slot machine. FInally started chatting with him and it turns out that he was the winner of 12 million in one of the big lotteries. He confessed that he had lost close to $100,000 that night. Seems all his winnings ended up in the Casino Rama coffers.

They say that this is not unusual. That most big winners are broke within 5 years? That the pressure from people and charities is huge, that the inability to manage money is simply magnified.

If you won the big one.... would you be able to handle the money, the pressure and ALL of the new friends?

Share this

Comments

lastpointe's picture

lastpointe

image

I have read that too. I don't think it is just addicted to gambling types. I think most winners have tons of trouble dealing with the win.

Add to it that many winners are real deserving folks who have real needs. These folks do not necessarily have the ability to manage the money.

Does the government offer any support?

for me, we would manage it well but then my spouse is a money manager by career.

Exe's picture

Exe

image

And the winning number is ................

RevMatt's picture

RevMatt

image

And perhaps it also speaks to the addictive nature of gambling?

Maye's picture

Maye

image

What a coincidence! I just watched a special on A&E on this very topic - most of the lottery winners ended up either broke, legally fighting with 'friends' over the money, or really unhappy.

I can only imagine how much pressure those people were under to help others.

We all dream of winning big, but I would like to win moderately. Just enough to pay off my debts, take a nice trip, help some favourite charities, and put aside some for the future would make me very happy. That way, it's not enough that everyone feels they can ask you for a piece of it.

BelieverOrNot's picture

BelieverOrNot

image

If i won the money, I wouldn't feel the natural urge to go blow it all on "improving" my life. I have a plan where I would save that money and just live off the interest while also working part time. If you put a 2.5 million winning into the bank and only spent the interest, you'd still have a salary of at least $100,000 a year. That's enough for me to buy a good house in 5 years doing absolutely no work!

Hopefully that real estate accrues money as well. I'd still work part time (not full time) just so I don't become too dull although I'd imagine I would go back to school and study while having a good time as well.

DaisyJane's picture

DaisyJane

image

I have always said that my medically fragile son grounds us in ways we don't fully understand at times. My husband would be considered a high income earner, however to look at us, the cars we drive, the way we dress, the way we live, you would not think so (IMHO). That is to a large extent linked to the fact that our annual medical expenses easily exceed a middle income salary. $30,000 alone for drugs (some covered, some not).

My husband and I were raised in frugal, average middle income homes. We did not experience the affluence my children see daily. As a result I think we are good with money. Because we have the overwhelming responsibility of our son we are forced to be very responsible with our money. Frittering it away on silly things seems....well silly in the face of our responsibilities.

As a result, I would like to think that if we received a large windfall we would use it very wisely. I have often thought of what I might to. We would obviously set aside a huge portion for ongoing medical expenses. We would establish trust funds for our other two kids to address the costs of university, perhaps purchasing their first home and so on. We would likely use a some of the money to renovate our home and fund the renovations of places near and dear to us (grandma's house, church, and so on).

We would lend financial assisantace to people, places and organizations that are important to us. In my fantasy world I would establish a not for profit foundation that assists the parents of children with profound disabilities with the development of self advocacy skills to assist them as they navigate the incredibly complex set of systems that come in to play in our respective lives (workshops, websites and so on).

If after all that I would be broke....so be it.

The fact that I almost never buy lottery tickets might suggest this remains in the realm of fantasy!

abpenny's picture

abpenny

image

I don't buy lotto tickets...but no matter how much we won...it would be used to buy more land...goodlord, I'd do some fancy footwork and try to sneak in a greenhouse operation that doubled as a bed and breakfast and birddog kennel...that would be my heaven....oh, plus a coors light outdoor beer tap that you could drink from, even in the sun, and not tip over.

Atheisto's picture

Atheisto

image

I'm not sure you can say that all winners are deserving...in the UK two winners have been convicted criminals, one a rapist and the other a robber. It's entirely random...however there's a tendency to call this a tax on the poor...some people spend fortunes on the lottery trying to win...I have friends that won a 100 ticket giveaway two seperate times from a local radio station for the lottery and from that the first one netted them NOTHING..and the second one got them about 30 bucks.

More importantly....where does the money go from the lottery? Is it transparent?

Tyson's picture

Tyson

image

Just shows that we are never satisfied with what we have. If we need bigger or better, then that's fine. It is when we WANT bigger or better or more then we already have that we become nothing more than greedy.

Maye's picture

Maye

image

Atheisto - Not sure what happens to ALL the money raised from lottery sales, but I do know that here in good ol' Saskabush it is used to fund sports, culture and recreation groups. I used to sit on a provincial theatre organization, and a majority of their budget came from the Cultural Advisory Committee through SaskCulture, whose funds came from lottery sales.

Isthmus's picture

Isthmus

image

CF, I totally agree with what you have to say about people never being satisfied with what they have. The whole 'grass is always greener' mentality is so evident, especially in Alberta, it seems. The area I live in has seen very quick growth due to oil. This means that many people can find work in this industry easily and the work pays quite well, when it is available.

The 'bigger is better' thinking can be seen every day, especially with houses and transportation. I can't count the times I have seen people in $60,000 trucks with thousands in add ons, and two $8000 quads on the back cruising down the highway. Why? Bigger is Better!

The other issue that has cropped up is the total lack of job dedication. Why stay at a job when you can leave after three months for more money at Tim Hortons, who is hiring for $15/hr just to attract staff because they loose people to other industries. Why do what makes you happy for 1/3 of your day when you can make a few dollars more an hour bing miserable?

Back to Popular Culture topics
cafe