Unlucky in riches article link

Reply #6

RJOh — Mon, 08 Nov 2004 23:10:37 GMT

Quote: Originally posted by ryanm on November 08, 2004 I'd never live like a millionaire even if I won a $300 million Powerball or Mega Millions jackpot.How do you think millionaires live?Support all their relatives? Give anybody and everybody asking for a hand-out a fist full of money? Support all the needy in their community? Maintain several homes in different places around the world?There are several millionaires in my area, out side of owning their own business and living in a nicer home... [ More ]

Reply #5

ryanm — Mon, 08 Nov 2004 22:22:24 GMT

Quote: Originally posted by tg636 on November 08, 2004>Looks like very few, if any, were able to collect in lump sum when they won.Yes it does. $4 million divided by 20 years minus taxes is probably only $140,000 a year. If you go buying cars, houses, go gambling, take expensive vacations and hand out money right and left to your family, friends or charity, you'll quickly find yourself with your last $2000 waiting 7 long months for the next check. You can live a lot more comfortably than you d... [ More ]

Reply #4

RJOh — Mon, 08 Nov 2004 22:07:54 GMT

Winning a lottery doesn't make you smarter, just richer.RJOh

Reply #3

tg636 — Mon, 08 Nov 2004 21:55:12 GMT

>Looks like very few, if any, were able to collect in lump sum when they won.Yes it does. $4 million divided by 20 years minus taxes is probably only $140,000 a year. If you go buying cars, houses, go gambling, take expensive vacations and hand out money right and left to your family, friends or charity, you'll quickly find yourself with your last $2000 waiting 7 long months for the next check. You can live a lot more comfortably than you do now, but you can't live like a millionaire.... [ More ]

Reply #2

fja — Mon, 08 Nov 2004 21:53:44 GMT

Yep, people tend to think that a million dollars wont ever disappear, and before they know it its gone.....

Reply #1

CASH Only — Mon, 08 Nov 2004 21:26:47 GMT

Looks like very few, if any, were able to collect in lump sum when they won.

Unlucky in riches article link

tg636 — Mon, 08 Nov 2004 20:09:20 GMT

http://www.bankrate.com/brm/news/advice/20041108a1.aspLooks like the inability to say no to handouts to family and friends is a big factor in losing all your money.