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

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 5 years ago '13        #81
BC is that Guy 
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$3,108 | Props total: 110 110
 Kooper said:
Vacations in the country and Mexico

I wonder how much she gambled away in Vegas


What an idiot
 5 years ago '06        #82
DominicanLou 17 heat pts17
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$7,731 | Props total: 5380 5380
 SmokeOne said:
I appreciate it you backing me up brah, and yes I mentioned mutual bonds and stocks in a previous post. So you know exactly what you're talking about and I respect that. But I'm dead serious when my dude in wealth management said he could take $5 million and put it in his bank account, let it sit and get 5% interest. He's been a financial planner for years so I trust him. But see to him, he makes 200k at the bank working, so to retire and live off 250k for the rest of his life (hes already 56) doesnt seem so bad to him. But to young people like us, who want to flaunt a little bit but yet not go broke, we might be willing to take more of the risks like you mentioned. Ultimately what you decide to do with your money if you ever won is based on your own personal investment goals.
Probably some of those accounts are tied to Money Market Accounts. Where I work we offer a savings accounts (for a limited time and for a limited amount, so it's like a CD) with a rate of 21%....I know that sounds unbelievable but there's a few caveats: you have to qualify by (low) income, there's a max. contribution limit and it's timed. Those accounts are also linked to MMAs.

At my age I would def be willing to take more risk. Looks like you got a good mentor to follow though.
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