The lotto chick

[JeffreyLebowski]

How long do you think it will take her to blow her new fortune? I'm thinking in about 2 to 3 years.
$56 million is a lot of damn money, but some dude that one $36 million was bankrupt within a year.



editted for retarded speeling.

 

[StageLeft]

I think 5-7. It's a lot of cash but she's young and I'd say only about 2% of 20 year olds have the first clue about how to handle money. Plus she is white trash by the looks of it (aren't they all?) and that doesn't play well in her favor.

 

[richardycc]

PICS? maybe I shouldn't ask...

 

[Amused]

It depends on how smart she is. As I know nothing about her background, I cannot even venture a guess.

She doesn't need to know what to do. What she needs is to be smart enough to find out what to do.

Although, I can say of those who have responded to the 'what would you do" threads here on this forum, over 70% would be bankrupt in 10 years or less if what they said is what they would actually do.

 

[MazerRackham]

Read this for an overview of what she should do with her money if she's smart

 

[Doggiedog]

Read this thread for pics.

 

[jpsj82]

<< How long do you think it will take her to blow her new fortune? I'm thinking in about 2 to 3 years.
$56 million is a lot of damn money, but some dude that one $36 million was bankrupt within a year. >>

Just to clarify - she won $58.9 million in pretax dollars. So we will probably walk with just $36 million.

Just my thinking - anyone who comes out saying I won the lottery jackpot the next day just isn't thinking. My guess is that the other winners are older then she is (or at least a lot smarter).

 

[ThaGrandCow]

The really sad thing is that I hear most people who win < $10mil in the lottery are bankrupt within 5-10 years. It's not a fluke, it's culture shock.

 

[Harvey]

There is no excuse for blowing $56 million in cash. The interest, alone, on the safest of investment portfolios is more than enough to live a very high lifestyle with plenty left over for adventuring.

 

[thebestMAX]

I'll be kind and say 4 years unless she hooks up with someone older (like me!)

First order of business, a trip to the Dentist!

PS: I think she won 110 mil with 56 mil after taxes.

 

[sharkeeper]

<< There is no excuse for blowing $56 million in cash. The interest, alone, on the safest of investment portfolios is more than enough to live a very high lifestyle with plenty left over for adventuring. >>



I couldn't have said it better myself!

Cheers!

 

[Blayze]

yeah I have learned a lot about money in the past three years.

When I was 19 I got 6,000 dollars from my Grandparents when they died. I spent that like there was no tommorow. And then I was broke. After I spent the money I was like "why did I even buy this junk?" I even ended up giving my parents half a computer I built with the money cause I had no use for it. It was a nice upgrade for them though at the time.

Now Im 22 and Job hunting... fun fun fun



But yeah if she isn't careful she will be broke in like 5 years or so.

 

[WhoDeeny]

Considering the best she could do when asked what she was going to purchase with her new found forutne (among other only few other suc trivial things) was to buy a horse, I figure she'll be rich for a while. I mean you've got to at least be somewhat creative spend that much money...

 

[arod]

I dont think that it I would win the big one I would quit my job... But I'm in college right now and only have a student worker job right now. I would go insane not having anything to do 24/7.... but I would cut down the hours so I wouldnt have too ealry of a morning. Where you get into trouble is uncle and aunts you didnt know exisrted. I would set up limitations on the money I loan out. No more than 10000 per person/family and most people that would ask for a loan wouldnt get it form me only the real family or real good friends.

 

[JeffreyLebowski]

I just can imagine spending that much money.

OK I'd buy a house, $200K at the most. a new car$35K, a new bike $10k, 2 jet skis $10k. maybe $10k in furnishings.

 

[Geekbabe]

Well,good for her !!! I'm just glad it wasn't one of those dweebie looking people standing there saying how it wasn't going to change their lives a bit !!!

LOL, if I'd have won that cash I could be totally outragous

 

[thebestMAX]

LOL, if I'd have won that cash I could be totally outragous >>

You already are !

 

[StageLeft]

It was $110 over years or $58 million up front (pre-taxes).

 

[Draco]

She should of taken the annuity....what a dumb ass.

 

[StageLeft]

<< She should of taken the annuity....what a dumb ass. >>

Well $110 over 20 years or $58 million now I'd take the $58 million now no doubt. Afteral with an average market return you can double that in 7-8 years anyway. Double it again to $220 million and in <= 20 years.

 

[thebestMAX]

She should of taken the annuity....what a dumb ass. >>

Maybe in her case but genrally WRONG!!

Any competintent money manager could do a lot better with the lump sum NOW!!

 

[StageLeft]

<< She should of taken the annuity....what a dumb ass. >>

Maybe in her case but genrally WRONG!!

Any competintent money manager could do a lot better with the lump sum NOW!! >>

Hehe yeah in fact in her case I agree! But that's cause she's dumb (I am guessing), and since she's dumb what does she know?

Personally I think it's a sham. Unless I'm wrong the lotto commision sells, say, $500 M in tickets and gives back $330 M. But are they giving back $330 M? No, they're giving back HALF that because that's all you can get NOW. So basically they set aside $165 M and from that give it to people who want it now, or if they want over the 20 years the lotto commission invests it themselves; thus they've sold $500 m worth but only set aside $165 m in sales.

 

[Jfur]

<< Just to clarify - she won $58.9 million in pretax dollars. So we will probably walk with just $36 million. >>





"We" :Q -- are you stalking her and planning to propose????

 

[ElFenix]

she'll prolly blow it on nascar, miller lite, and winstons in 6 months.

 

[UberNeuman]

I'm sure she'll blow it... And the lotto money as well...