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Wednesday, September 02, 2009

The STOOP: Heck Yea I Won the Lotto, but Now I'm Broke

I didn't actually win the lotto, but I wish I was the one who hit that Mega Millions Jackpot last week...lol. No seriously, this is an all to common of a story for many lottery jackpot winners. They hit, they celebrate, they live and then their broke several years later. On Yahoo.com today they posted yet another one of these typical stories.

In the article, there was a young lady at 16 that won $3 million in the UK lottery 6 years ago and now she is flat broke. She informed the interviewer that she spent the money on drugs, sex, clothes [$738,000 on clothes alone], cars and is now left with only $32,000. What's interesting is the lotto winner said if she had to do it all over again, she would give the money back. So that leads to the question of the of the day:

If you won the lottery for several million dollars, What would you do with the money? Would you give it back? Would you spend it wisely, or live like a Rock Star?

For me, if I hit for $3 + million I would drop it all into a series of investment accounts that net a 10% annum return and live off the interest. That is $300,000 a year, yea I can make that money stretch right there. What would you do?

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Written by: Ran
@rannyran on Twitter

6 comments:

Anonymous said...

if i won i would ball out of control. yea i would stash a bit for a rainy day, but yep at first lennox mall here i come =)

Autty said...

I would buy all the skrip clubs all around the world! nah lol...i would totally hire you to be my FA cuz I would end up just like her but she's dumb, she should totally flip those clothes LOL!

@TheAutty

Ran said...

I agree I mean I am sure she can auction the clothes off on eBay or something and make a killing. Heck I would ... I would call it the dumb lottery girl auction LOL

Autty said...

you know! LOL

always_inspired said...

hmmm let's see. I would stary my organization and put the right people in the right places w/in my org. Money will flow as a result in a residual form.. I'd put a large amount in some cd's or something and hook a few people of course..

always_inspired said...

^^^ You know what I meant lol ^^^