Lottery winners and Hip-Hop lifestyle...

Reply #31

Bagent — Mon, 27 Jul 2009 02:17:43 GMT

GamerMom,

At least you are doing better than I. I have been playing PB and MM for 7 years and all I have to show for it is 4 tickets that have won me $3 each.

Reply #30

L J1 — Wed, 15 Jul 2009 13:43:45 GMT

After the payout is all gone maybe your friend can look back and say....

Hey....lol... I may not have got a lot done.... but I sure had a lot of Fun

Reply #29

swampfox — Tue, 14 Jul 2009 12:38:49 GMT

My husband watched a TV show which showed lotto winners. They stated the majority of people who win, including millions, don't have it within 6 months to a year. It's about the motto of today, Live life now, don't worry about tomorrow...I guess, cause someone will take care of it. That's always been one of my parental hangups....it's like a tell my kids, although at the beginning of adulthood, responsibility doesn't go away, and you can't make others exercise it, but you can attempt it yourself.... [ More ]

Reply #28

mjwinsmith — Tue, 14 Jul 2009 12:13:52 GMT

Sounds like a good reality TV show to me, LOL.

Reply #27

myturn08 — Tue, 14 Jul 2009 11:50:43 GMT

i completely agree, it is their money let them do what they want with it..regardless if they won it or worked for it, it belongs to them..he got his enjoyment out of it, it served HIS purpose........

Reply #26

magic 007 — Tue, 14 Jul 2009 02:17:15 GMT

everybody has his own indulgence to him it may be cars and to you it may be horses or even yachts / expensive vacations so no one can really judge another , if you know what i mean.

Reply #25

magic 007 — Tue, 14 Jul 2009 02:14:17 GMT

SOME** not too good to generalise

Reply #24

Shawn67 — Mon, 13 Jul 2009 00:38:26 GMT

I guess I'm just too simple. I just want to win a jackpot so I can pay off the mortgage on my modest yet comfortable home, get a nice pickup, pay off the credit cards, and put the rest away for retirement so I can live the rest of my life with no real worries.

Reply #23

ambelamba — Sun, 12 Jul 2009 23:02:28 GMT

The bigger question is Why do they buy expensive cars like candy when they get rich

Reply #22

Tenaj — Sun, 12 Jul 2009 22:25:14 GMT

More power to the winner and God bless'em.

Reply #21

Littleoldlady — Sun, 12 Jul 2009 22:14:18 GMT

Maybe he can't count. But if he blew his money like that..he will be in poor house soon enough with no nice looking blondes. He might be lucky and end up with a fat blonde with no teeth and acne scars in her face.

What I can't understand is why black men as soon as they get rich or get a hold of a large sum of money, they dump their black wife and go get a white woman..I can't understand this.

Reply #20

CowboysFan — Wed, 08 Jul 2009 22:13:25 GMT

And all the people at his apartment must be thinking why the hell is he still living there if he owns those three beautiful cars? Did the guy make a mistake and think he won $7,000,000.

Reply #19

hearsetrax — Tue, 07 Jul 2009 11:08:34 GMT

personally after reading this thread I don't know wethier to laugh or

I know for my self I'd go on a given mad spending spree if only for the essentials of home and a gently used pick up and maybe a nice also gently used hard top convertible ..... after that and a fair amount of traveling then we'd see about the rest of it

Reply #18

gy65 — Tue, 07 Jul 2009 02:27:04 GMT

I thought it was 25% Federal

25% is withheld. Google . . top tax bracket.

Reply #17

SmoothJuice — Tue, 07 Jul 2009 02:17:26 GMT

I thought it was 25% Federal and 4.35% Federal

Reply #16

gy65 — Tue, 07 Jul 2009 00:46:45 GMT

The tax liability on $1,000,000 would be roughly 37% (4.35% Michigan and 32.77% Federal) leaving an investment balance of approximately $630,000. That amount invested in a High-Yield Corporate Bond Fund would provide in the neighborhood of $3,700 per month before taxes (which would be at a lower rate in subsequent years). A fool and their money . . .

Reply #15

Big Hitter — Tue, 07 Jul 2009 00:39:34 GMT

This is his life's test. He will either pass or fail. All we can do is observe. The money will be a blessing or it will be a burden. Too soon to tell, but burden looks like its in the lead right now...

Reply #14

Matchmaker — Tue, 07 Jul 2009 00:38:12 GMT

I believe four4me said it right. If you can't handle money before you come into lots of it then, you're certain to become broke very soon. I personally witnessed a guy from the little town of Brookshire, Texas win the Cash 5...all by himself. He went out and purchased several nice cars, lots of jewelry, fancy hip-hop type clothing, and furnished all of his new girlfriends with new furniture and appliances for their places.

Now, he did purchase his mom and dad vehicles also but, he's flat brok... [ More ]

Reply #13

GamerMom — Tue, 07 Jul 2009 00:22:30 GMT

Yes it is his $$$ to spend as he wishes but it sickens me. I can't even really afford to buy my son a new bed but somebody like this wins a million and wastes it on crap, IMO. I've been playing for years and can't win more than $100 *sigh

Reply #12

joker17 — Tue, 07 Jul 2009 00:18:45 GMT

It's incredible to me. In times like this how can someone go on a spending spree such as this? Some folks will never get the true value of the dollar.

Sorry, but for the folks here who responded by saying it's his money and he can do as he wishes seems to me, like they would also waste the rare opportunity given to them , and potentially save their rear ends when the whole economy collapses. It will happen, but when, is the question.

I'd be lying if I said I wouldn't blow at least a hundre... [ More ]

Reply #11

ca-dreamin* — Mon, 06 Jul 2009 23:40:38 GMT

HAHAHA let's see how long he stays happy.....and if you need a ferrari to get the chicks LOL those aren't the kind of chicks you really want.

Reply #10

Editgap — Mon, 06 Jul 2009 23:20:20 GMT

I think more power to him. If anyone was fortunate enough to reach the promised land I am sure the would do the same.

I know people who are broke who spend beyond their means.

I would do the same, the ferrari was a good touch. It would get the chicks. At least he is happy.

Reply #9

ca-dreamin* — Mon, 06 Jul 2009 23:08:16 GMT

That's sad! And he probably is broke

Reply #8

four4me — Mon, 06 Jul 2009 21:37:03 GMT

If you cant handle money before you win the lottery then most likely you won't be able to handle money when you win the lottery.

Money does strange things to people whom never had it. It's like kind of a high people get lost in themselves.

Reply #7

chattanoogadog — Mon, 06 Jul 2009 20:58:31 GMT

Money= Change in time and people, Give a man a fish and he eats for a day!!!, Teach that same man to fish and he eats for a lifetime.... Same goes for money... I just hope he is happy with his stuff...

Reply #6

petergrfn — Mon, 06 Jul 2009 20:52:26 GMT

With 700 grand after taxes you could have a nice nest egg. However infuriating it may be too watch someone spend money in what you consider a foolish manner it's there money in the end. Maybe they feel like the Gov't is going to take my money the world is going to hell I might as well enjoy the money while I can. Maybe they thought they should buy a gas guzzling BMW or Range Rover while they are still legal..Before we are all legally mandated to buy stupid gas saving Golf Cart cars...We don't kn... [ More ]

Reply #5

MaddMike51 — Mon, 06 Jul 2009 20:04:41 GMT

My apologys.I'm so used to people complaining about how winners spend their winnings that I thought you were doing the same.

Reply #4

SmoothJuice — Mon, 06 Jul 2009 20:01:13 GMT

Well.. that's the whole point of me posting it.

Reply #3

SmoothJuice — Mon, 06 Jul 2009 20:00:44 GMT

Real life. Why would I post a fairytale

Reply #2

MaddMike51 — Mon, 06 Jul 2009 19:56:29 GMT

Well,it was HIS money to save,spend or piss away.None of us have the right to tell someone else how to spend their money.We can learn from his behavior,though.

Reply #1

magic 007 — Mon, 06 Jul 2009 19:53:42 GMT

Is this real or some made up fairy tale of yours

Lottery winners and Hip-Hop lifestyle...

SmoothJuice — Mon, 06 Jul 2009 19:08:02 GMT

This acquaintance of mine won $1,000,000 on a scratcher in Detroit area. Before he won the lottery, he was a Christian man; very quiet and polite. AFter taxes, he got like $700,000 or something(from my calculations). Instead of hiring a financial advisor, he goes on a spending spree. He bought a $220,000 Ferrari, a Range Rover with 25 inch rims, BMW 7 series with rims for his sister and a Jaguar with rims for his Dad. Instead of buying a new house, he is staying in the same apartment with no gar... [ More ]