Comments on: HOWTO Deal With Winning the Lottery

By: Cheryl

Cheryl — Wed, 09 Feb 2011 07:04:17 +0000

yes it goes to ur heirs.

By: Hott Dogg

Hott Dogg — Wed, 12 May 2010 20:37:01 +0000

I have no college degree nor any college experience I worked for a Shareholder firm for 10 years until getting fired a year ago …I will say that I’m fairly experienced with money and I do have some options and ideas on how to invest but let me tell you if I had hit the lottery early last year I would haev quit my job so fast and told my supervisor to kiss my rear so fast all they would have seen is a blur outthe door.

By: MG

MG — Sun, 23 Aug 2009 15:00:29 +0000

My question is, if I were to win $180 million, where do I keep such a large sum of money safe. FDIC insurance only covers $100,000. Doing business with a bank that is popular and well known or multiple accounts in various banks? Other… who knows, I might win LOL!

By: Anna S.

Anna S. — Sun, 02 Aug 2009 20:40:12 +0000

I used to work as an Admin Ass’t at a private foundation, so I’ve always thought of starting a foundation of my own, if I had a large sum of money. Not only would I get to give money away to organizations doing good work (in the arts, conservation and giving children & adults tools to take charge of their lives), but I’d give myself a permanent job — at the salary I chose! Since I prefer to work and be productive than to just hang out and be on “leisure time”, I know this would work well for me. So, let me ask you, if you were given a large sum of money, with the stipulation that you had to somehow create a job for yourself with it, what would you do?

By: Rafael

Rafael — Fri, 05 Jun 2009 23:45:08 +0000

i would probably give 1 million dollar to each of my family members

By: Mr. C. Cross

Mr. C. Cross — Wed, 28 Nov 2007 07:09:26 +0000

I used to know a very friendly guy who pumped my gas.

One day he showed me an old newspaper clipping with a photo of himself headlined “5 Million Dollar Mike”.

He explained that he won $5,000,000 in the lottery a few years ago; had a big house and fast cars in California; then lost it all– because of his girlfriend.

He now holds two jobs pumping gas– one job to pay his bills and the other paycheck is used to buy more lottery tickets — because he KNOWS he can win it again.

———————

“Congratulations!” the king in Gary Hart’s BC comic strip says to the peasant.

“What are you going to do with your lottery winnings?”

“Well”, the peasant replies, “gambling has been pretty good to me!”

By: SJR

SJR — Wed, 29 Aug 2007 12:38:27 +0000

I dream of how I would invest money won,and think I have a pretty good financial plan, but I was wondering,If you would take the payment option, and then die,,are the remaining payments,considered part of your estate,and go to your heirs,or is it lost?

By: real people, real finances

real people, real finances — Sun, 05 Mar 2006 05:12:52 +0000

You have to remember that most people that win aren’t necessarily the most financially aware people – if they were, they probably wouldn’t be playing the lottery in the first place.

By: RS

RS — Wed, 01 Mar 2006 03:57:40 +0000

That is something that always amazes me also…how can lottery winners blow through so much money? I have seen Dateline or 20/20 reports about how they often end up bankrupt and less happy than before they won the lottery.

I personally would stay at my job if I won. I may not work quite as hard, but I would stay.

By: Hazzard

Hazzard — Tue, 28 Feb 2006 23:55:16 +0000

It’s tragic that such a high percentage of folks squander all their money away. It’s a perfect example of why it is so critical to teach some level of money management in school. From all the articles I’ve read about lottery winners losing everything, it appears that they just didn’t know any better. My guess is that they didn’t even realize that they could create a reasonable income stream off the principal.
Hazzard

By: Flexo

Flexo — Tue, 28 Feb 2006 22:14:13 +0000

FMF,

Not only is it a good idea to wait until the money’s in the bank, but it might be good to try to leave on best terms (that is, no “See you losers later.”). Who knows how quickly the money will be squandered and you’ll be back begging for a job. :-)

By: FMF

FMF — Tue, 28 Feb 2006 21:28:44 +0000

“Don’t jump the gun” (on quitting work).

I think I would at least wait until the money hit my account before I left.