When did winning the lottery become so stressful?

[matrixman124]

[scoobdog]

From the beginning.  The history of the lottery is littered with the bodies of former winners who were bankrupted or, worse, murdered by friends and family.

[naraku360]

40 minutes ago, scoobdog said:

From the beginning.  The history of the lottery is littered with the bodies of former winners who were bankrupted or, worse, murdered by friends and family.

 

[Insipid]

40 minutes ago, scoobdog said:

From the beginning.  The history of the lottery is littered with the bodies of former winners who were bankrupted or, worse, murdered by friends and family.

lol, he disagrees. It's true though. Tell no one, not even your spouse or children, if you win. Gotta assemble a legal team and financial advisors before spilling the beans to anyone. People can turn really ugly with news of sudden fortune.

[matrixman124]

8 minutes ago, Insipid said:

lol, he disagrees. It's true though. Tell no one, not even your spouse or children, if you win. Gotta assemble a legal team and financial advisors before spilling the beans to anyone. People can turn really ugly with news of sudden fortune.

It just makes me sad, I don't disagree. I couldn't bring myself to like.

[Insipid]

Just now, matrixman124 said:

It just makes me sad, I don't disagree. I couldn't bring myself to like.

Rather unusual way to use the downvote button, but regardless, yeah.

I want an ultimate lottery, one where the odds are so low that the jackpot gets so enormous to the extent that the winner becomes the richest person alive. Let's see the cognitive dissonance billionaires will experience over that.

[André Toulon]

7 minutes ago, matrixman124 said:

It just makes me sad, I don't disagree. I couldn't bring myself to like.

I appreciate your bravery because often times, I took wish to use them in this way...not for a disdain for the post, but for the horrible things it represents.

But you can't because the automatic response to it is "fuck you"

[matrixman124]

9 minutes ago, Insipid said:

Rather unusual way to use the downvote button, but regardless, yeah.

I want an ultimate lottery, one where the odds are so low that the jackpot gets so enormous to the extent that the winner becomes the richest person alive. Let's see the cognitive dissonance billionaires will experience over that.

I didn't realize it actually acted as a downvote. Nevermind then.

[matrixman124]

6 minutes ago, André Toulon said:

I appreciate your bravery because often times, I took wish to use them in this way...not for a disdain for the post, but for the horrible things it represents.

But you can't because the automatic response to it is "fuck you"

For real I was using it to express sentiment not to actually demerit someone. My bad!

[scoobdog]

34 minutes ago, matrixman124 said:

It just makes me sad, I don't disagree. I couldn't bring myself to like.

I don't particularly care about the downvote, but, for the record, you can also use the sad react.  It similarly does not increase reputation.

As for this, why does it make you sad?  I'm not necessarily down on the lottery, but there is little reason to be sad for people having to pay by other means for what technically amounts to free money.  Too many people buy into the fantastic imagery of lottery winnings without ever thinking about the social ramifications of it.  It's even something for those people that win a relative pittance on game shows.  Your problems aren't necessarily solved, you're just buying more time to address them, which people rarely do.

[matrixman124]

1 minute ago, scoobdog said:

I don't particularly care about the downvote, but, for the record, you can also use the sad react.  It similarly does not increase reputation.

As for this, why does it make you sad?  I'm not necessarily down on the lottery, but there is little reason to be sad for people having to pay by other means for what technically amounts to free money.  Too many people buy into the fantastic imagery of lottery winnings without ever thinking about the social ramifications of it.  It's even something for those people that win a relative pittance on game shows.  Your problems aren't necessarily solved, you're just buying more time to address them, which people rarely do.

There you go, used Sad instead lol

It makes winning the lottery sound like the worst thing ever. Like damn.

And yes I do get how it's a temporary reprieve more than anything.

[Top Gun]

I watched (part of) Lost, I know how that shit ends.

[scoobdog]

9 minutes ago, matrixman124 said:

There you go, used Sad instead lol

It makes winning the lottery sound like the worst thing ever. Like damn.

And yes I do get how it's a temporary reprieve more than anything.

It really is the worst.  From an existential standpoint, it plays on all of the worst aspects of greed and capitalism:  it's a source of income not derived from an actual industrial endeavor which tends to deprive the winner from any real ownership of the winnings and also delegitimizes the winner's claim to the funds by greedy third parties seeking to take it from him or her.  We hear of plenty of stories of irresponsible winners, but it's the winners with good and honorable intentions who tend to most often be victimized because of this unique situation.  Furthermore, while the insistence that winners be publicly named is a necessary requirement given the potential for fraud and corruption, it also leads to those winners being exploited by the lottery itself for "free" good publicity which, in turn, makes them easy targets for thieves and murderers without the lottery taking any real responsibility for it.  The lottery is quite literally an embodiment of the wish-granting monkey paw.

[katt_goddess]

The one good thing about ND, you can stay anonymous if you win big. 

Then it's just a matter of not being a crazy spender just because you have money. 

[Jman]

There are too many stories of lottery winners being conned into schemes or taken for rides that if I were to win, absolutely no one would know.  My favorite from that hall of shame is Wrestlicious, a female wrestling organization funded by a lottery winner…that got canceled after one season and left him flat broke.  He was asking for it when he made himself an on air authority figure called “JV Rich”.

Now me?  No one would know.  That multimillion dollar apartment was an inheritance dammit!  Also a lot of rich folks use holding corporations and trust funds to manage their money so it’s not done in their name.  Anything that keeps the money trail being led to me is a good thing.

Edited July 25, 2022 by Jman

[scoobdog]

7 minutes ago, Jman said:

Now me?  No one would know.  That multimillion dollar apartment was an inheritance dammit!  Also a lot of rich folks use holding corporations and trust funds to manage their money so it’s not done in their name.  Anything that keeps the money trail being led to me is a good thing.

That's usually not an option.  Some states do allow anonymous winners, but not the ones with the big payouts and not the Mega Millions multi-state lottery.  Generally speaking, if you win a multi-million dollar prize, your name will be out there for everyone to see and your phone will be ringing off the hook in short order from money grabbing relatives.

[Jman]

46 minutes ago, scoobdog said:

That's usually not an option.  Some states do allow anonymous winners, but not the ones with the big payouts and not the Mega Millions multi-state lottery.  Generally speaking, if you win a multi-million dollar prize, your name will be out there for everyone to see and your phone will be ringing off the hook in short order from money grabbing relatives.

That’s where I move, change my phone number, and no one knows where I am except my closest family.

[scoobdog]

Well, hopefully you share a little bit with your closest family to keep them quiet, and go into witness protection.

[katt_goddess]

My cell phone cost like $20 and gets fed with a card every 3 months or so. 

It's unlisted.

So, there's always that.

POTATOFONE! Win a billion dollars and still look like your homeless in public!

[1pooh4u]

I remember back in the day a lot of lottery winners went broke shortly after winning the jackpot 

 

[1pooh4u]

On 7/25/2022 at 2:32 PM, André Toulon said:

I appreciate your bravery because often times, I took wish to use them in this way...not for a disdain for the post, but for the horrible things it represents.

But you can't because the automatic response to it is "fuck you"

When I sad face a post it’s cuz the content made me sad. Not cuz I didn’t like the post.  I had no idea that sad face was equivalent to the d’oh ball

[André Toulon]

I know I'm going broke ...it's my goal. 

Putting 50% up for my kids to fuck up and I'm buying all forms of bullshit

[Master-Debater131]

3 hours ago, 1pooh4u said:

I remember back in the day a lot of lottery winners went broke shortly after winning the jackpot 

 

Its actually pretty common for anyone who suddenly comes into money to be broke very quickly.  Lottery winners and pro athletes are the two biggest groups of people who go from broke, to rich, to broke.

If you dont know how to properly manage your assets its really easy to blow through them quickly. That awesome sports car that you bought? Also have to pay taxes and insurance on it. Gigantic mansion way bigger than you need? Same thing. That "sure thing" investment that your buddy knows of? Might as well just light your cash on fire. Those random really expensive purchases of things because "Hey, Im rich!" add up in a hurry.

Managing money can be tricky. If you look at who is actually successful at managing their money its people who already had some understanding of managing money and tend to understand that they shouldnt just buy whatever they want. They keep money in interest earning accounts, hire lawyers to protect them, hire CPAs and finance firms to help manage their money, and dont do stupid shit.

If managed properly, winning the lottery can easily mean you will never work another day in your life. However, the people who tend to win the lottery arent the best at managing money or making smart decisions.

 

Also, its now over $1 Billion.

[1pooh4u]

9 minutes ago, Master-Debater131 said:

Its actually pretty common for anyone who suddenly comes into money to be broke very quickly.  Lottery winners and pro athletes are the two biggest groups of people who go from broke, to rich, to broke.

If you dont know how to properly manage your assets its really easy to blow through them quickly. That awesome sports car that you bought? Also have to pay taxes and insurance on it. Gigantic mansion way bigger than you need? Same thing. That "sure thing" investment that your buddy knows of? Might as well just light your cash on fire. Those random really expensive purchases of things because "Hey, Im rich!" add up in a hurry.

Managing money can be tricky. If you look at who is actually successful at managing their money its people who already had some understanding of managing money and tend to understand that they shouldnt just buy whatever they want. They keep money in interest earning accounts, hire lawyers to protect them, hire CPAs and finance firms to help manage their money, and dont do stupid shit.

If managed properly, winning the lottery can easily mean you will never work another day in your life. However, the people who tend to win the lottery arent the best at managing money or making smart decisions.

 

Also, its now over $1 Billion.

I thought someone in Iowa won the 1.2bn jackpot cuz it reached 1bn btt the numbers were drawn 

[1pooh4u]

Pro athletes need mandatory financial advisors cuz they’re way too young to make all that $$

[Master-Debater131]

1 minute ago, 1pooh4u said:

I thought someone in Iowa won the 1.2bn jackpot cuz it reached 1bn btt the numbers were drawn 

https://www.cnn.com/2022/07/27/us/mega-millions-jackpot-tuesday/index.html

No one won last night.  Its now over a billion.

[Master-Debater131]

1 minute ago, 1pooh4u said:

Pro athletes need mandatory financial advisors cuz they’re way too young to make all that $$

I think the NFL offers a class on financial management to the rookies. The NHL does as part of its on boarding process for all new players into the NHL.

[1pooh4u]

1 minute ago, Master-Debater131 said:

https://www.cnn.com/2022/07/27/us/mega-millions-jackpot-tuesday/index.html

No one won last night.  Its now over a billion.

Cool I had read earlier that someone in Iowa won. 2 people in NY and NJ won a million. One was on SI. SI gets real lucky

[Master-Debater131]

1 minute ago, 1pooh4u said:

Cool I had read earlier that someone in Iowa won. 2 people in NY and NJ won a million. One was on SI. SI gets real lucky

I think there were a bunch of people who won smaller prizes.  Still huge amounts of money, but not the jackpot.

[Sawdy]

10 minutes ago, Master-Debater131 said:

I think there were a bunch of people who won smaller prizes.  Still huge amounts of money, but not the jackpot.

$3mm in Jersey at a Wawa… if I won even that much I’d make that work for a long time

[Master-Debater131]

3 minutes ago, Sawdy said:

$3mm in Jersey at a Wawa… if I won even that much I’d make that work for a long time

Honestly, if you gave me $50 Ide be happy.  I dont even know how I would react if I got that.

I mean, I do. Ide pay off my student loans, car, and mortgage. After taxes and everything you probably would leave with $1.5M or less, but thats still a crap ton of money. I know I said dont burn through your money, buy paying off debts and having assets that are debt-free is a massive advantage in life.

[katt_goddess]

My bills are currently all caught up. If I won the lotto, most of that would go into something like a Roth IRA and savings accounts. While I might end up moving to a condo or something at some point it would be a slow process that no one would notice anything weird about. Barring that, maybe just moving to the second floor with a balcony and second bedroom to be turned into a library / crafting room which would still be something within reason for me. 

There would be a trip to B&N though. That shit is happening.

And then it would be back to figuring out how to be Batman with charitable donations. I could order backpacks directly from the manufacturers and have them anonymously donated to the United Way for their school supplies drive. 

[Jman]

I got to finally pay off my biggest bills a few months ago, so other than some considerable charitable donations (because the world could use some), it would probably be the basic life improvements. Nothing exceptionally showy though, I don’t need a yacht.

[Top Gun]

Honestly if I splurged on anything it'd be a ridiculous car (or two). Buy a modest house with a dedicated nerd cave, then pay someone who knows what the fuck they're doing with money to handle the rest so that I never have to work another day in my life.

[tsar4]

Unfortunately, or perhaps fortunately, I was nowhere near Touhy Ave. in the recent past.

[katt_goddess]

Fun fact - the daughter of the dude whose kitties I'm currently kitten-sitting flew into Chicago the other day. They are all having a family vacation at some lake somewhere that's been a tradition for so long that they still do it even now though the family is scattered. 

I'd honestly like to think she picked up a ticket for the hell of it, won, and doesn't even know it yet. I'd rather the person who won it isn't one of those that averages a hundred bucks on lotto tickets every week just for the hell of it but rather someone who could actually use the money infusion and only got a single tic.

[lupin_bebop]

On 7/25/2022 at 12:29 PM, scoobdog said:

From the beginning.  The history of the lottery is littered with the bodies of former winners who were bankrupted or, worse, murdered by friends and family.

Not to mention the other…..”happenings”.

Edited August 21, 2022 by lupin_bebop

[scoobdog]

No idea what that means.

[lupin_bebop]

On 8/21/2022 at 6:43 PM, scoobdog said:

No idea what that means.

Meaning:

They meet their demise in mysterious ways, go “missing”, or simply party/kill themselves to death.

[Jman]

6 minutes ago, lupin_bebop said:

Meaning:

They meet their demise in mysterious ways, go “missing”, or simply party/kill themselves to death.

Ah, the old Putin special.  Out a window.

[scoobdog]

1 hour ago, lupin_bebop said:

Meaning:

They meet their demise in mysterious ways, go “missing”, or simply party/kill themselves to death.

Yeah, the death by excess is a thing.

[matrixman124]

7 minutes ago, scoobdog said:

Yeah, the death by excess is a thing.

 

[scoobdog]

20 minutes ago, matrixman124 said:

 

Well, I mean it is hard to find good drugs nowadays.

[matrixman124]

Just now, scoobdog said:

Well, I mean it is hard to find good drugs nowadays.

Not too hard for a wafer thin mint

[lupin_bebop]

12 hours ago, scoobdog said:

Yeah, the death by excess is a thing.

Death is guaranteed.

[DragonSinger]

On 7/25/2022 at 1:29 PM, scoobdog said:

From the beginning.  The history of the lottery is littered with the bodies of former winners who were bankrupted or, worse, murdered by friends and family.

At least nowadays there's a lot of good advice out there if you win. It still takes self-control to follow those tips though.

[mthor]

5 hours ago, lupin_bebop said:

Death is guaranteed.

Whether or not you win the lottery.

[Jman]

4 minutes ago, DragonSinger said:

At least nowadays there's a lot of good advice out there if you win. It still takes self-control to follow those tips though.

Instant gratification is a dangerous slope of inhibition blocking.  Not to mention all the people who see you as a mark to be exploited.

[scoobdog]

39 minutes ago, DragonSinger said:

At least nowadays there's a lot of good advice out there if you win. It still takes self-control to follow those tips though.

True, to an extent.   Someone who "earns" that much money through, say, selling his startup isn't necessarily a more capable money manager than a struggling single mom with a winning $1 Billion ticket, but he (yes, its probably a white male) has an infrastructure in place to handle all the money.  Self-control only gets you so far, as does good advice.  What usually ends up doing these unlucky winners in is the inability to find someone trustworthy to help them manage an unmanageable amount of money.

[Jman]

Lottery is $1 billion tonight, so I’m dusting this off for funsies.

To be fair, you don’t see a lot of that money since Uncle Sam wants his share first.  This website breaks down what’s owed by state, as well as how much one gets if they choose installments vs a cash pay out.

https://www.usamega.com/powerball/jackpot