How One Lottery Winner Blew Through $10 Million in Less Than 10 Years

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 4 years ago '10        #41
Trilluminati GA 433 heat pts433
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$49,867 | Props total: 13663 13663
I bet getting a hundred dollars from most of those she looked out for is like a tooth extraction, and we know how black folks hate going to the dentist
 06-24-2013, 12:38 AM         #42
SmokeOne 
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 gangtsa said:


These fools really think they would let 10 mil sit in the bank?

That's why y'all wil never become wealthy. With 10 mill I'm thinking of making generation wealthy y'all wanna sit on money.
First off, $10 mil aint sh*t. Like you see the bi*ch blew it in no time. The sh*t I was talking about is making $10 mil last your entire LIFE, because you never touch the principal. And to the dude who said you can't get 5%, 5% is actually pretty low I was just tryna show yall the idea. Yeah its sitting there, but your basically making free money off it! Living off a guaranteed 500k per year for the rest of my life sounds a lot better than being broke in 10 years.

Naw, you need about 40 mill to only live of interest. The interest rates banks give are super low and on top of that you have to pay taxes, then you cant have it all in 1 account cause it all wont be insured
Not true brah. I know a dude who works in wealth management at Citi Bank and that was the exact thing he said he'd do if he won the lotto, put it in a bank account and live off the interest. He said all he would need is $5 mil to make like $250k, I just doubled it. You think I came up on this idea on my own?

But to each is own, i can't tell yall how to spend your lotto money. I was just tryna show you there is a smarter way to use your money than bail money and cars.

And one other thing, when you deposit $10 mil in the bank most of the time you can negotiate a good interest rate because they want to be able to get that money to loan out.


Last edited by SmokeOne; 06-24-2013 at 12:43 AM..
 4 years ago '05        #43
pnoi89 11 heat pts11
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$11,311 | Props total: 4735 4735
 SmokeOne said:
First off, $10 mil aint sh*t. Like you see the bi*ch blew it in no time. The sh*t I was talking about is making $10 mil last your entire LIFE, because you never touch the principal. And to the dude who said you can't get 5%, 5% is actually pretty low I was just tryna show yall the idea. Yeah its sitting there, but your basically making free money off it! Living off a guaranteed 500k per year for the rest of my life sounds a lot better than being broke in 10 years.



Not true brah. I know a dude who works in wealth management at Citi Bank and that was the exact thing he said he'd do if he won the lotto, put it in a bank account and live off the interest. He said all he would need is $5 mil to make like $250k, I just doubled it. You think I came up on this idea on my own?

But to each is own, i can't tell yall how to spend your lotto money. I was just tryna show you there is a smarter way to use your money than bail money and cars.

And one other thing, when you deposit $10 mil in the bank most of the time you can negotiate a good interest rate because they want to be able to get that money to loan out.
 06-24-2013, 12:53 AM         #44
SmokeOne 
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 pnoi89 said:
What you making faces for? You know what I was trying to say, you can blow $10 mil quick. Obviously $10 million is a lot of money, but its not as much money as you think when you go out and blow all kinds of money on vacations and cars and houses and sh*t. That sh*t adds up quick and if you don't have any further income coming in, you're screwed like this bi*ch.

Obviously you could always invest the money in other stuff like opening a business or put it in stocks, mutual funds, bonds, or whatever, but of course that all comes with risks. This is basically a zero risk. You don't even have to leave all of it in the bank, you could leave $5 mil in the bank and then invest the rest in whatever you want. That would still be smarter than what this chick did.


Last edited by SmokeOne; 06-24-2013 at 01:28 AM..
 4 years ago '11        #45
GrindPOWER$ 390 heat pts390
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$19,284 | Props total: 12567 12567
i can't read this it might anger me and i might find her and punch her in her chest...somebody give me the cut and dry.


[pic - click to view]



Last edited by GrindPOWER$; 06-24-2013 at 01:18 AM..
 4 years ago '05        #46
PussyFiend 
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 Kooper said:
Vacations in the country and Mexico

You've obviously never been outside your neighborhood
 4 years ago '12        #47
Di Warlord 8 heat pts
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$11,500 | Props total: 10965 10965
if it was 10 mill in USD, I could find a way to live comfortably for at least 20 years... its all about budgeting. I'd give my grandma 250K and tell her divide it between her and my mom... and give some to my aunts and uncles that helped take care of me. That's the only bread I'm giving away.

I'd by a M3 and a decently large house with cash or a loft apartment. Other then that, I'd continue to live how I live now. I'd also continue to work but I gotta be honest, it would be very hard for me to give a fu*k about my job and career progression lol
 4 years ago '05        #48
Zdawg 2 heat pts
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the title is misleading, ive read stories of people squandering millions on drugs/alcohol etc, but she looked out for the people around her...cant think of a better feeling than that
 4 years ago '06        #49
DominicanLou 17 heat pts17
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 SmokeOne said:
First off, $10 mil aint sh*t. Like you see the bi*ch blew it in no time. The sh*t I was talking about is making $10 mil last your entire LIFE, because you never touch the principal. And to the dude who said you can't get 5%, 5% is actually pretty low I was just tryna show yall the idea. Yeah its sitting there, but your basically making free money off it! Living off a guaranteed 500k per year for the rest of my life sounds a lot better than being broke in 10 years.



Not true brah. I know a dude who works in wealth management at Citi Bank and that was the exact thing he said he'd do if he won the lotto, put it in a bank account and live off the interest. He said all he would need is $5 mil to make like $250k, I just doubled it. You think I came up on this idea on my own?

But to each is own, i can't tell yall how to spend your lotto money. I was just tryna show you there is a smarter way to use your money than bail money and cars.

And one other thing, when you deposit $10 mil in the bank most of the time you can negotiate a good interest rate because they want to be able to get that money to loan out.
so you know a dude who works at Citi in Wealth Management....what is his title, credentials and experience? Just because he works there doesn't mean he knows what he's talking about.

Do you really want to put all of your money in one bank? FDIC insured Banks only guarantee up to $250K per account holder.

Problem is...when a lot of people come into new money like that they don't change their mind state. Their lifestyle changes but they continue to manage money like a person with no money. A person with no/little might be tempted to spend that money initially on material things and be swayed by business deals. They gotta change that mentality first and think like a person with wealth.
 4 years ago '11        #50
BtMkRs 12 heat pts12
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lets hope she teaches her kids the right thing to do.... only give it to them after they finish college. BACHELORS
 06-24-2013, 08:45 AM         #51
InnanetGsRunSht 
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I woulda bought 5 McDonalds, and did construction on 1 to make it into a souped up McDonalds. fu*k giving away money, you can get in on this here mystery meat.
 4 years ago '05        #52
Andrefrbk 1067 heat pts1067
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Yo she could have given her bros and sisters 200k each and still had mad bread!

She didnt invest anything into something to earn money either? I mean a nail salon, a tanning place sumtin!!!?

This biitch crazy, so basically she blew a million every year? Dont get more crazier than that... WOW!



To any n*gga who gets rich on here. They key to becoming richer = being a capitalist. Meaning no loaning money, hording money, and making secure investments. You cant becoming richer if you are a kind and generous person. And you damn sure cant build wealth being a consumer. There is a reason why n*ggas like warren buffet have billions, its called being cheap, mean, and greedy. Sad but its the only way.
 4 years ago '11        #53
BtMkRs 12 heat pts12
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 InnanetGsRunSht said:
I woulda bought 5 McDonalds, and did construction on 1 to make it into a souped up McDonalds. fu*k giving away money, you can get in on this here mystery meat.
No, you buy 1 McDonalds and let the Profit buy the other 4 . jus saying
 4 years ago '04        #54
justinjones 307 heat pts307
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i never understood why people don't try to live on interest or at least invest it more wisely and not blow it all on everything or trying to bring their whole family with them. one life right

i guess people don't be thinking that when they hit the lotto.

the most i would do is pay off the rest of my parent's house(they are making pretty good money already). make sure my niece and nephew get care when they are older(2 of them are autistic), give my sister a 100k and that is about it.
 4 years ago '04        #55
D1nOnlyMrM@ 43 heat pts43
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im selfish when it comes to those who work and my parents got enough money...plus my sister is doin fine. id create my own charity for starving children. invest 50 percent in the that charity. take my income tax bracket down. Invest 20 in short term bonds, save ten percent, buy a mcdonalds, a burger king, and a wendys all in close proximity, a gas station maybe. and with the rest id still have more than im making now, so id buy a house, rent it out, and have a private residency condo. might get a car somewhere down the line. everything id generally pay for id try to create a way of making money out of it. id prolly own an upscale taxi service (might even have professional escorts lol).
but basically id live below my means in an effort to save. i live decently already and overkill funds would be too addictive to spend to if i went all out in the beginning. id slow feed myself money while growing it.
 4 years ago '08        #56
Soda Pop 7 heat pts
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Lol I get money I get a house and my mom gets a house, everybody else gets pissed.
 4 years ago '12        #57
OldBusiness 163 heat pts163
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You're setup to fail anyhow. The average person knows nothing about managing their own personal pay checks...n*ggas damn sure ain't gone manage a fortune.

You get a huge lump sum of money and you aren't generating sh*t? You're already broke before you spend it
 4 years ago '10        #58
SwooshWonder 13 heat pts13
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I like how n*ggas always talk sh*t about people when they win the lottery and fu*k up their money and then wanna give "sound advice" on how they would spend their money.

Many, many people in some way shape of form end up like this lady after winning the lottery. Yall aren't any different
 4 years ago '04        #59
bangerz 
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this is nothing new
 06-24-2013, 10:56 AM         #60
InnanetGsRunSht 
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 sm00vb0iiw0nder said:
I like how n*ggas always talk sh*t about people when they win the lottery and fu*k up their money and then wanna give "sound advice" on how they would spend their money.

Many, many people in some way shape of form end up like this lady after winning the lottery. Yall aren't any different
The difference is I KNOW I'm not going to fu*k up 10 mill if I got my hands on it. Speak for yourself if you would trick it up. Even the dumbass people I know would get some coke with that sh*t instead of looking out for people who can't give it back.
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