Did you win $28 million last night?

The perception that many big winners end up broke, destitute etc is a bit of an urban myth. The ones that do are sensationalised and the ones that don’t, well their story is pretty boring and nobody gets to moralise about them.

Mysteryman said :

Cheap said :

If I won the lottery I would make sure that not even my significant other knew about it. I often hear that once the last dollar is spent, many realise that winning the lottery was the worst thing that ever happened to them

That’s because they’re stupid enough to spend it all. You’d have to be a complete muppet to blow $29 million.

Exactly, smart people don’t see the $27m figure, they see the return on investment figure as what they can actually spend.

Granted, you may use some of the winning to pay off debt upfront and buy a couple of nice things. But the vast bulk should be put into investments, and you live comfortably off the interest.

Unfortunately most are won over by the massive figure, blow it, and that’s why the stats on lottery winners going broke, suffering depression and having family breakdowns is surprisingly high.

Cheap said :

If I won the lottery I would make sure that not even my significant other knew about it. I often hear that once the last dollar is spent, many realise that winning the lottery was the worst thing that ever happened to them

That’s because they’re stupid enough to spend it all. You’d have to be a complete muppet to blow $29 million.

Spykler said :

JimCharles said :

I remember the first big UK winner, when the press were anxious to identify him although he’d requested no publicity. The only thing released was that the winner was male, had spent the necessary 24 hours listening to the lottery’s financial advisers, then had immediately flown to Miami and communicated that he had absolutely no intention of ever returning to the UK. They didn’t really use it for marketing purposes in the end.

At least two winners of those enormous Camelot jackpots have necked themselves- I was over there when the 100 million pound jackpot was won by a 26 year old guy- after 2 months he had more friends and long-lost relatives than he knew what to do with. He didn’t have a moment’s peace and a year later ended it all..

Darwinsism at work… Was not equipped to survive.

*Jim Carrey voice on*

IT WAS MEEEEEEEEEEEEE

*voice off*

JimCharles said :

I remember the first big UK winner, when the press were anxious to identify him although he’d requested no publicity. The only thing released was that the winner was male, had spent the necessary 24 hours listening to the lottery’s financial advisers, then had immediately flown to Miami and communicated that he had absolutely no intention of ever returning to the UK. They didn’t really use it for marketing purposes in the end.

At least two winners of those enormous Camelot jackpots have necked themselves- I was over there when the 100 million pound jackpot was won by a 26 year old guy- after 2 months he had more friends and long-lost relatives than he knew what to do with. He didn’t have a moment’s peace and a year later ended it all..

I remember the first big UK winner, when the press were anxious to identify him although he’d requested no publicity. The only thing released was that the winner was male, had spent the necessary 24 hours listening to the lottery’s financial advisers, then had immediately flown to Miami and communicated that he had absolutely no intention of ever returning to the UK. They didn’t really use it for marketing purposes in the end.

I’d spend it all on shares in Canberra’s light rail extravaganza…..I’m sure to double my money overnight!

How Canberran

I’d be on the phone to real estate agents at Bondi Beach asking about buying a weekender apartment.

No, bugger it.

watto23 said :

I’d love to know what people actually do with 27 million.
Lets face it even if you bought decent houses thats 27 of them or more.
Spend 7 mill and earn 5% interest on the other 20 mill getting a million each year!

I’d pay off my home loans, buy a new car, stick some cash in a term deposit then give the rest away. That amount could make an amazing difference to our local charities and communty groups.

Cheap said :

If I won the lottery I would make sure that not even my significant other knew about it. I often hear that once the last dollar is spent, many realise that winning the lottery was the worst thing that ever happened to them

I’d be happy to take the risk.

watto23 said :

I’d love to know what people actually do with 27 million.
Lets face it even if you bought decent houses thats 27 of them or more.
Spend 7 mill and earn 5% interest on the other 20 mill getting a million each year!

I’d spend some on fast cars, alcohol and loose women. The rest I’d just squander….
(apologies to George Best)

If I won the lottery I would make sure that not even my significant other knew about it. I often hear that once the last dollar is spent, many realise that winning the lottery was the worst thing that ever happened to them

I’d love to know what people actually do with 27 million.
Lets face it even if you bought decent houses thats 27 of them or more.
Spend 7 mill and earn 5% interest on the other 20 mill getting a million each year!

🙁