Lottery winners accepted by high society?

Reply #28

Karen Nathan — Mon, 08 Feb 2021 14:14:00 GMT

That second one who implied he would shoot people who come to his house looking for money does seem a bit troubling, but he has a good point... A married Couple at FIRST decided to stay in their original neighborhood after doing a press conference in order to claim their Millions, but hightailed it out of there when random strangers came to their house begging for money.

Reply #27

GiveFive — Mon, 08 Feb 2021 13:57:34 GMT

Just about everybody thinks that they are up to the task of handling/managing a large amount of money.

If some Average Joe I'm acquainted with tells me they can do it, then to me that's the automatic kiss of death! That's how I can tell they're going to blow it all should they be ever so lucky to win a jackpot.

I've even had a little fun with that. I've asked some co-workers who are fellow lottery players if they thought they could manage the money by themselves. Only a few times did I hea... [ More ]

Reply #26

Karen Nathan — Mon, 08 Feb 2021 13:34:40 GMT

I was in a rush when I wrote this and by the time I realized I got it slightly wrong, I was WAY past the Edit window...

It was supposed to read, At least one report found that many People admitted they wouldn't dare ask someone who EARNED Millions through years of hard work for any money, but they would ask for money from someone who spent $2 and won MILLIONS of dollars by playing a lucky $2 bet, not through hard work, so they felt the Lottery Winner needed to share the Winnings.

Reply #25

GiveFive — Mon, 08 Feb 2021 13:29:09 GMT

I found it!! Here's a cut and paste from an article that appeared in The Washington Post:

According to the National Endowment for Financial Education, about 70 percent of people who win a lottery or receive a large windfall will go bankrupt in a few years.

Sad but all too true. G5

Reply #24

GiveFive — Mon, 08 Feb 2021 13:22:30 GMT

It's usually pretty widely known how some very wealthy people obtained/earned their fortune, so to ask them how they got their millions is kind of a moot point. Unless a lottery winner is able to remain anonymous, there's shouldn't be much of a reason to ask them either.

Wealthy people are constantly asked for money. That's something they all are very familiar with. Anybody that thinks a jackpot winner needs to share it just because they won a fortune needs their head examined. G5... [ More ]

Reply #23

GiveFive — Mon, 08 Feb 2021 13:04:24 GMT

I think the ratio of how many jackpot winners that did not squander their winning vs those that did squander it would be an interesting statistic to see/know.

The cynical side of me thinks those that blew it all is larger than those that were smart and didn't blow through it. Googling that might reveal something. G5

Reply #22

Karen Nathan — Mon, 08 Feb 2021 01:59:40 GMT

Hmm. At least one report found that many People admitted they wouldn't dare ask someone who EARNED Millions through years of hard work money, but they would ask someone who spent $2 and won MILLIONS of dollars for money since they got those millions by playing a lucky $2 bet, not through hard work, so they felt the Lottery Winner needed to share the winnings... Hmm...

Reply #21

cottoneyedjoe — Sun, 07 Feb 2021 22:01:19 GMT

An example of a lottery winner who might be considered high-ish society is Gil Cisneros. He used his $266 million to become a philanthropist, and then served one term in the House representing California's 39th district. (Last November he narrowly lost re-election.

Reply #20

Coin Toss — Sun, 07 Feb 2021 20:32:07 GMT

That's true but everyone also has to consider the number of jackpot winners who squander the winnings make it harder for those who don't do that to be accepted.

Reply #19

db101 — Sat, 06 Feb 2021 23:48:04 GMT

That's basically true at every socioeconomic level. Most of your friends you meet through work and school, followed by hobbies and church.

Reply #18

db101 — Sat, 06 Feb 2021 23:41:50 GMT

I think how you behave with your wealth determines whom you can associate with much more than how you acquired your wealth.

Reply #17

four4me — Sat, 06 Feb 2021 19:02:20 GMT

patriciate old money trumps nouveau riche new money

Reply #16

darthfury78 — Sat, 06 Feb 2021 18:38:35 GMT

The is why most wealthy people put their wealth into a Trust or Foundation instead of giving the $$$ to their offspring because:

It protects the money from Estate taxes since the transfer tax is already paid. They do not directly own the wealth. The Trust can make the money grow by investing it into stocks, bonds, and real estate. The is no fighting involved because none of the kids will inherit the wealth.

This is why some of the rich and famous made it clear to their kids that they wi... [ More ]

Reply #15

GiveFive — Sat, 06 Feb 2021 12:42:27 GMT

Just to bore everybody a wee bit more about generational wealth..

Conventional wisdom has it that rich kids always burn through a huge inheritance. And some actually do that, but not for the reason you might think.

The reason isn't that they didn't earn the money themselves so they dont know how hard it was to get it. It's simply because they dont think about it. They may not know enough (or even anything at all) about the sophisticated terms financial adviser's like to throw around. The k... [ More ]

Reply #14

GiveFive — Sat, 06 Feb 2021 12:09:02 GMT

100% Correct! Some lottery winners won't be living very long in the already wealthy's neighborhood because many of them will rapidly squander their new fortune and as a result will have to relocate to some place they can afford. The big difference between Old Money and New Money is this; Old Money knows how to protect and keep their fortune for use by future generations. Sad to say, but many times New Money does not take the necessary steps to protect and sustain their millions for their childre... [ More ]

Reply #13

Coin Toss — Fri, 05 Feb 2021 22:56:27 GMT

nouveau riche

[?no?o?vo 'reSH]

NOUN

(the nouveau riche)

people who have recently acquired wealth, typically those perceived as ostentatious or lacking in good taste.

////////////////////////////////////////

Among already rich people lottery winners are especially though of in this way since they really didn't do anything to earn being rich.

Also if a jackpot winner moves into a rich community, neighborhood etc...a lot of those residents think Oh lottery winner, they won't... [ More ]

Reply #12

GiveFive — Fri, 05 Feb 2021 14:34:10 GMT

You cant possibly know that what I'm about to write is true, and I cant prove it, but it's true.

Courtesy of a very unfortunate set of circumstances that happened to my wife, something that I would hope no one would ever have to endure, my wife and I can temporarily afford to live in a community crowded with multimillionaires. We see Bentley's and numerous other expensive cars being driven down the road every day. A home located on an exclusive golf course a couple of miles down the road rece... [ More ]

Reply #11

GiveFive — Fri, 05 Feb 2021 13:50:12 GMT

Agreed. Wealthy people stick to themselves and their friends are mostly other multi-millionaires.

There is one thing about having big money though. How acceptable a wealthy person is to someone else with lots of money is based upon whether you fall into one of two categories. And they are: Are you Old Money or are you New Money ? Old Money doesn't care too much for New Money.

Old Money has had wealth in the family for a very long time. For instance double Great Grandpa made a huge fortune... [ More ]

Reply #10

PrisonerSix — Fri, 05 Feb 2021 03:49:06 GMT

I've read some stories about people who have lost friends because they won the lottery and wouldn't give away money and in some situations, had to move. My rule would be if someone asks me for money, they aren't getting any.

Reply #9

PrisonerSix — Fri, 05 Feb 2021 03:41:06 GMT

I seriously doubt it. In many cases, so called high society doesn't accept anyone who wasn't born into it.

I don't think I'd fit in with those people anyway and if I won, I'd probably just go on doing what I'm doing.

Reply #8

Karen Nathan — Fri, 05 Feb 2021 02:03:09 GMT

I think he meant Outcast, as in Resented, like , Karen, why did you only give me 2 Million when you gave Tammy 3 million? You obviously like Tammy more than me

Reply #7

MartyMcNuts — Fri, 05 Feb 2021 02:00:49 GMT

That's it! If they are truly your friends (family included) then they would be happy for you. Love and frienship is not (and should never be) based on how much money you have.

Yeah, those second cousins I haven't seen or heard from in 20+ years can bugger off, LOL.

Cheers!

MM

Reply #6

cottoneyedjoe — Fri, 05 Feb 2021 00:47:34 GMT

I like your attitude Marty.

It's hard to imagine anyone becoming an outcast with their family after winning millions. If anything, I think they would suddenly become quite popular with a passel of long-lost second cousins.

Reply #5

GoogilyMoogily — Thu, 04 Feb 2021 14:02:13 GMT

I remember watching a talk show interview some young successful business owners. Two had on suit and ties, and were very yuppy like. One looked like a hobo. I would guess I saw this in the late 80's or early 90's?

The first yuppy said he knew he was successful when he had his first million in the bank. Sigh. Boring. So predictable.

The second yuppy said he knew he was successful when he had hired 100 people. Yay for the business creators that support people, instead of the government suppo... [ More ]

Reply #4

MatrixMan369 — Thu, 04 Feb 2021 13:08:37 GMT

Agreed.

Reply #3

MartyMcNuts — Thu, 04 Feb 2021 05:47:26 GMT

Honestly, screw high society. If I had many millions of dollars I would still associate myself with whomever I choose, just like I do now as a 'not so well off' person! Also, I seriously doubt I'd be outcast by family and friends, well at least the one's that matter, anyway!

Still waiting for that day!!

Cheers

MM

Reply #2

cottoneyedjoe — Thu, 04 Feb 2021 05:28:33 GMT

High society is a nebulous term and it's not like all rich people are necessarily friends with each other or even know each other. And since a lot of weathly people inherited their money, they don't have much license to look down on lottery winners. Swimming out of a rich man's balls and picking numbers are matters of sheer luck.

What you do with your money determines who's in your circle. Use your money to start a manufacturing business, you'll likely cross paths with other manufacturing tit... [ More ]

Reply #1

Nikkicute — Thu, 04 Feb 2021 03:07:28 GMT

Instant outcast by friends and family Not always.

There is a difference between those to made it and those who won it, as long as the lottery winner knows

the difference and doesn't think he's on the same level as those who worked hard, took years to make their millions it should be Ok.

The money maybe equal (depending how much you won) but they way it was acquired is not the same.

So I'd think you'd be looked at differently.

Lottery winners accepted by high society?

darthfury78 — Thu, 04 Feb 2021 01:53:14 GMT

As the title implies. Does high society ever treat lottery winners as equals? After all, once a person wins the Lottery Jackpot, they are instant outcast by friends and family. I wonder if they can relate more towards those who are wealthy like Warren Buffet or Donald Trump