"Winning Plays A Game With Your Head"

Reply #12

delS — Wed, 31 May 2006 01:12:48 GMT

Some very good points to ponder, particularly getting utilities in other than your own name! Good points.

Reply #11

PrisonerSix — Wed, 31 May 2006 01:02:00 GMT

My area isn't really overpriced, but housing prices have gone up and available housing has shrunk since Hurricane Katrina brought many New Orleans residents who lost their homes into the area. My main reason for moving away is to get away from people who know me, so they won't ask for money. To be honest, I don't know if I'll give anyone money but one thing for certain is if any individual or organization asks me for money, they can forget about getting any, EVER.

I've often talked about my... [ More ]

Reply #10

bellyache — Mon, 29 May 2006 18:03:29 GMT

Well if you won $12 million you wouldn't have $10 million to put aside. You would have less then $10 million after taxes were taken out.

Reply #9

sfilippo — Mon, 29 May 2006 14:05:22 GMT

I find it interesting that people around you calibrate their money problems according to YOUR cash balance.

If I have, say, $1,000 and my 'friend' knows about it, then he or she seems to have a $100 problem that they need me to help them with.

If I have, say, $100,000 and my 'friend' knows about it, then he or she seems to have a $5,000 problem that they need me to help them with.

It's weird

Reply #8

Rip Snorter — Mon, 29 May 2006 13:35:05 GMT

Interesting thread.

People who haven't won lotteries, so they don't have to worry about going broke, jumping over the hurdle of not having won to worry about losing it all after they've won.

Sort of cutting out the middle man and getting down to the meat of things.

Jack

Reply #7

justxploring — Mon, 29 May 2006 05:51:41 GMT

Quote: Originally posted by alexiega on May 16, 2006 I've been getting by for so long I'd probably be afraid to spend the money for fear of returning to my old getting by status!!!!

I'd be very careful and buy a modest home and a sensible car. Like Prisoner6, I would probably move away from this area which is very overpriced. One reason is as you stated above. I'd never want to go back to waiting for my paycheck and carefully budgeting. The other is because I've blown money in the p... [ More ]

Reply #6

bellyache — Mon, 29 May 2006 04:04:02 GMT

I think the number of people who have won and have improved their lives outnumbers the ones who have messed up. In my opinion, the media would rather report about lottery winners stories of those who have lost everything and are down in the dumps, then lottery winners who are living happily and carefree.

Reply #5

PrisonerSix — Thu, 18 May 2006 16:50:57 GMT

I feel the same way. Once I got myself situated, i.e. paid for house, car, etc., I'd probably live modestly for the most part. I wouldn't buy a super elaborate house or a fancy car, but would buy something I like. If I buy something nice, I wouldn't show it off to others. Alot of people have that need, but I don't.

A nice entertainment center in my home, nice hobby room for the ham radio and computers, and a bathroom with a jacuzzi tub would be very nice additions indeed, but most people... [ More ]

Reply #4

alexiega — Wed, 17 May 2006 01:39:36 GMT

I've been getting by for so long I'd probably be afraid to spend the money for fear of returning to my old getting by status

Reply #3

Raven62 — Tue, 16 May 2006 15:14:17 GMT

It's the "Rush" you feel from suddenly being so wealthy that you can virtually do anything your wildest imagination can conceive.

Reply #2

delS — Tue, 16 May 2006 14:41:48 GMT

hahahahahahah. Shane3, I agree with you on the family piece. I'm there. In my dreams come true document, I have a set amount for a Friends and Family Account. There are strict procedures I'll follow in that money being distributed. If they can't live with what I gift them, too hell with them. I would do every thing in my power to make any jackpot win to increase, not just consume it all and go broke.

Reply #1

Shane3 — Tue, 16 May 2006 14:37:20 GMT

The problem with most winners who go broke is that they feel millions and millions means endless goobs of money. That is so far from the truth. they start spend immediately from their principal and before you know it, they can barely make ends meet.

On the issue of family and money....you have got to drawn a hard line. If what you are able to give them on a regular basis is not sufficient for them...then too bad. They do have the choice to disown you. If they threaten to do so, then tell them... [ More ]

"Winning Plays A Game With Your Head"

delS — Tue, 16 May 2006 12:52:11 GMT

This is a partial story found at bankrate.com. For the full story click on the link

http://www.bankrate.com/brm/news/advice/20041108a3.asp

Winning plays a game with your head

Bradley, who wrote Sudden Money: Managing a Financial Windfall, says winners get into trouble because they fail to address the emotional connection to the windfall.

There are two sides to money, she says. The interior side is the psychology of money and the family relationship to money. The exterior side is