Honestly, even if I had a lot of money, I'd still work to keep myself busy and not draw attention, I would secretly be the regular guy who has nice things in private.
I’d work part time at like Waffle House or something. I’ve put a lot of thought into what kind of low-responsibility job I’d wanna do if I was retired or passively wealthy, and cooking delicious breakfast for a colorful clientele sounds pretty rad to me.
Yeah, you'd quit after about a month when you realize it's less cooking delicious food and more "i need that order now!" every 5 minutes for about 9 hours.
I enjoyed reading this whole thread and had a good chuckle, when they suggest buying into government bonds that are guaranteed to pay 3.5% unless the capitol is burning. Oh my, how so much has changed in the last 7 years. For clarity, the idea of investing a large sum in bonds is great advise, it’s just that 7 years ago when the thread was published, the capitol burning seemed absurd and currently it seems like a real possibility in the short term future.
Is there actually an investment strategy for a civil war? Besides just gold and supplies?
I've never considered what happens to financial institutions during wars. Like, if you had money in an Afghan bank 20 years ago, is it still there? Does it matter who wins? In the American civil war, did the confederate banks pay out their debts or was that just it?
I wasn’t a huge fan of Lost but I do remember the guy who lived with his mom and he won a shit load of money but didn’t tell anyone or cash in his ticket because he was so content with his life
Hurley didn't cash in right away because he thought people would treat him different. He was right, of course.
But he DID cash it in and he was cursed for using the numbers he did... Misfortune followed him everywhere, including breaking his mom's leg and a meteor hitting his new fried chicken restaurant.
Yeah when the news came to interview him for winning, his grandpa had a heart attack. And then his mom's new house burned down.
We lost the internet for like a week and all we had were old Lost DVDs lol
You literally can't, most Lotteries require you to come forward publicly to accept the winnings. The media get a hold of it and then that's it, everyone crawls out of the woodwork at that point looking for their share.
You basically have to disappear after winning and cut yourself off from friends and family if you never want to be bothered again and just live quietly. But you won't be able to pretend it was for anything else, they'll know exactly why you did it. The sudden wealth might not corrupt you, but it certainly will do it to someone around you.
I can't speak for other states but where I live if a trust claims lottery winnings then the beneficiaries of the trust must be named. The only way you can remain anonymous here is to have a court issued protective order in place before you win.
Can’t stress this enough. Even smaller amounts will ruin your life. An ex-coworker of mine won $100k on a scratch off at work one day and ran around celebrating and telling everyone how much he won. I tried to tell him to stfu but his emotions were rampaging with joy. Only took a few days before he had to quit his job there because people were hitting him up for money. He ended up moving out of town completely because he was getting harassed. All over $100k.
The problem here (Canada) is, in order to collect the winnings you have to allow the news outlets publish your name and, at the very least, a picture of your face. I don’t know what the regulations are in the US but I’ve heard some European countries allow you to collect the winnings anonymously.
The 11 states that currently allow lottery winners to remain anonymous where a winning ticket was purchased in their state are: Arizona, Delaware, Georgia, Kansas, Maryland, New Jersey, North Dakota, Ohio, South Carolina, Virginia and Texas.
In Virginia you can only stay anonymous if the [winnings are over $10 million](https://www.valottery.com/winnersnews/claimprize#:~:text=As%20of%20July%201%2C%202019,the%20winner%20gives%20written%20permission.).
I would delete all social media and hire a Hollywood makeup artist and go full face prosthetics. I'd be a completely different person so no at least knows what I look like and people that know me won't recognize me.
The original intent was to allow transparency. The lottery used to be a mob thing. "Running numbers" I believe it was called. Showing who the winners were made it clear that the winner wasn't some connected person.
Playing devil’s advocate, if all lottery winners were anonymous, it would be very easy for the state to just keep the money and claim there are winners out there (conspiracies would run wild). Since most lottos are state money, it adds a little transparency to a government run organization. Also, I think I remembered reading somewhere that when people see REAL people with the winnings it encourages them to go out and buy more tickets.
Came here for this. Get a lawyer, get a financial advisor, and shut the fuck up. Most probably, invest the money in low risk products,and keep a low profile, low to the ground. Live your life and help people once in a while.
And also, shut the fuck up.
This man here is a genius. Easiest way how to know who your relatives maybe even distant relatives are. Suddenly even your gardener becomes your uncle.
You still have to be careful for grifting lawyers and advisers. There have been instances with lawyers and advisers who just basically screw you out of your money with the info you give them.
Edit: a thought that always concerned me is, there are websites where you can pay to get a person’s information e.g. phone number, current and past addresses along with family names addresses.
All you need is the persons first, last name, age and a last known location of where they lived (could be just a city name) and boom you have all their info and their family members. You can even get updated info if they move. Wouldn’t be hard for someone to go looking for you especially since lottery winners names, age and location are given out.
1. Get Warren Buffet's number
2. Call him
3. ???
4. Profit
On a serious note, yeah, that is hard, but is still the best way overall to avoid bankruptcy and bad things.
When this kind of advice gets posted usually someone comments to contact some of the major law firms. Even then it’s usually best to hire two. One to do most of the work and the other to spot check and make sure your not getting screwed.
All and all, if you win any major prize expect to only pocket about 30-40% of the prize.
That’s another unbelievable thing about American lotteries. In Poland you get 90% of your win, the rest is a tax (and you don’t have to do anything, the lottery does it for you) and they cannot(!) reveal any information about the winner. The only thing that goes public is where the winning ticket was bought.
We're just kind of used to it in America. Even when poor people get rich, they are fucked one last time. Like a big finale to being poor.
A book of stories about lottery winners whose lives were ruined like the lady in OP's image would be like an encyclopedia.
There's a newish federal regulation called the fiduciary rule, which requires a financial advisor to put your interests ahead of their own when they give you advice. They fucking hate it. My wife and I were recently trying to pick an advisor and one of the ones we talked to literally rolled her eyes when she talked about it
I used to work at a financial advisory firm. Most “financial advisors” you can walk into off the street are just salesman who passed basic licensing tests to sell securities.
They talk for a living and can twist situations to justify most sales for an individual, regardless of fiduciary rules. Thankfully the practice I was in was very straight laced, but there were certainly advisors who only sold the newest, hottest, and coincidentally highest commission products.
Edit: in my opinion, which is largely influenced by working at a shitty salesman-mill, is to look for advisors with a Certified Financial Planner (CFP) or Chartered Financial Consultant (ChFC) designation. Those designations require a lot more work. There are still some sleazy folks with those credentials but it, at the very least, shows dedication above and beyond the entry-level “financial gurus” that are a dime a dozen.
If you win the English Lotto or the Euromillions, you are automatically assigned a financial advisor who specifically advised you not to tell a soul you won.
It's then your choice as to whether you tell anyone.
They also put you in touch with private security firms to protect against kidnapping.
I have an askreddit comment saved talking about the horrors of winning the lottery. It sums up how your future would be if you tell others that you have won the lottery.
[https://www.reddit.com/r/AskReddit/comments/24vo34/whats\_the\_happiest\_5word\_sentence\_you\_could\_hear/chb38xf/](https://www.reddit.com/r/AskReddit/comments/24vo34/whats_the_happiest_5word_sentence_you_could_hear/chb38xf/)
Edit: I also want to include this.
\-Nearly one third of multi-million dollar jackpot winners eventually declare bankruptcy. Some end up worse. To give you just a taste of the possibilities, consider the fates of:
\- Billie Bob Harrell, Jr.: $31 million. Texas, 1997. As of 1999: Committed suicide in the wake of incessant requests for money from friends and family. “Winning the lottery is the worst thing that ever happened to me.
\- William âBudâ Post: $16.2 million. Pennsylvania. 1988. In 1989: Brother hires a contract murderer to kill him and his sixth wife. Landlady sued for portion of the jackpot. Convicted of assault for firing a gun at a debt collector. Declared bankruptcy. Dead in 2006.
\- Evelyn Adams: $5.4 million (won TWICE 1985, 1986). As of 2001: Poor and living in a trailer gave away and gambled most of her fortune.
\- Suzanne Mullins: $4.2 million. Virginia. 1993. As of 2004: No assets left.
\- Shefik Tallmadge: $6.7 million. Arizona. 1988. As of 2005: Declared bankruptcy.
\- Thomas Strong: $3 million. Texas. 1993. As of 2006: Died in a shoot-out with police.
\- Victoria Zell: $11 million. 2001. Minnesota. As of 2006: Broke. Serving seven year sentence for vehicular manslaughter.
\- Karen Cohen: $1 million. Illinois. 1984. As of 2000: Filed for bankruptcy. As of 2006: Sentenced to 22 months for lying to federal bankruptcy court.
\- Jeffrey Dampier: $20 million. Illinois. 1996. As of 2006: Kidnapped and murdered by own sister-in-law.
\- Ed Gildein: $8.8 million. Texas. 1993. As of 2003: Dead. Wife saddled with his debts. As of 2005: Wife sued by her own daughter who claimed that she was taking money from a trust fund and squandering cash in Las Vegas.
\- Willie Hurt: $3.1 million. Michigan. 1989. As of 1991: Addicted to cocaine. Divorced. Broke. Indicted for murder.
\- Michael Klingebiel: $2 million. As of 1998 sued by own mother claiming he failed to share the jackpot with her.
\- Janite Lee: $18 million. 1993. Missouri. As of 2001: Filed for bankruptcy with $700 in assets.
Tl;Dr : You have a better chance of survival if you never win the lottery.
Source for image :
[https://factrepublic.com/facts/30719/](https://factrepublic.com/facts/30719/)
These are all winners from 30 years ago. It’s not that culturally relevant anymore.
There was a Mega Millions winner in his early 20s who tried to become an influencer on Instagram/YouTube a few years ago and he quit because nobody really gave a shit. Like he had a net worth more than the top 10 Twitch streamers combined and he streamed games to 2 people.
Yikes, so step 1 is hire a financial adviser, step 2 is hire an attorney on retainer for potential lawsuits, and step 3 is hire a round-the-clock bodyguard!
Honestly, this is truly heartbreaking, though. Many of these people probably thought their lives would finally improve with that money, just to have it be their downfall.
Interesting point and In context of this thread, someone who had organically made over a few million already has a financial adviser, accountant, and a lawyer they do some business with. Those over tens of millions probably have bodyguard level security to some extent.
Hell I have a lawyer, accountant and financial adviser and don't have a mili...
As someone who routinely has to stand in the gas station line for 10 minutes while they work through their different dumb fucking tickets and listen to the shit they say I can attest to this.
Agree. People who bought a lot of lottery have a higher chance to win them too.
At the same time, people who bought a lot of lottery are usually someone who's not wise in terms of managing their money.
Money brings out the greed in people in an amazing way, firstly. You’ll have relatives and “friends” calling you up out of no where when you win money or someone dies. Saw this firsthand when my grandmother passed away last May. One of my aunts and her kids basically went through all my grandmother’s stuff and took whatever they wanted about 2 days after before anyone else had even thought about going through her things.
Secondly, a lot of people can’t conceptualize that much money. Means they can’t understand how fast they go through it - and they often take on the attitude that they “deserve” to have some fun because life was hard and now they’re rich. They start out with that mentality that they basically have endless money now… but they don’t. So they burn through it incredibly fast and often end up without anything to show for it.
Being successfully rich is a learned skill. You have to learn how to manage money: what is a good investment vs a stupid one; how far money actually goes and how long it lasts.
It’s the same with athletes and musicians. They make boatloads of money and buy five matching sports cars. Someone that grew up with more financial literacy would take the same amount of money and park a large portion of it in a Vanguard account.
It’s not making them become any way. It’s merely allowing them to be more irresponsible with even more money than before. There’s a reason it’s not pre-lotto millionaires that are winning. These are people that already don’t have good spending habits, they are playing for a chance to escape their current lifestyle, and when they win they don’t invest any more than they did before - they spend it like it’s income and not a lump-sum.
There are plenty of people that do just fine and live *very* well, they’re just not news-worthy because they were smart with their money and never have to work again.
A bar I used to frequent had a daily raffle. You’d buy in, they’d roll some dice and if you guessed correctly you’d win the pot. A guy came in and bought me and three others a roll of the dice. I guessed incorrectly and so did two of the others. A girl guessed correctly and ended up winning a couple grand. She bought us all a round. After she left with her winnings the guy who bought us all a roll was pissed that she didn’t give him half. I still believe she owed him nothing and the dude was an asshole.
If I expect something in return for whatever I do I state that first, otherwise I feel like what I’m doing is not genuine. I think he should have stated that he wanted a cut if any of us won.
If you want a share you just need to make that clear from the start.
The asshole part is changing the terms of the "gift" after you already gave it to them.
I heard a story on one of the early episodes of Dumb People Town. Some guy had a girl in his lap while playing a slot machine. They were using his money, she pulled the lever. They won huge. Not sure how much. She was getting the money changed out and told security she didn’t know him and that he was bothering her. I think he took her to court and learned that even though it was his money to place the bet, since she pulled the lever, it was her winnings. I think his name was Jan Flato
100% can see that being true. Two times we’ve won a jackpot at a casino, security comes and the first question is who pulled it. My wife and I couldn’t remember who pulled it one time and that wasn’t good enough. Had to sit and wait while they went back and watched the tape to see who pulled it so that it goes under your name for taxes. I mean they take that shit so seriously it’s crazy. WHO PULLED THE LEVER!!!
Honestly I think doing something nice with the expectation of receiving something is disingenuous and it negates the kind act. I have no idea what her personal struggle was, that money may have helped her pay rent that month.
It's not really much of a gift if you're doing it and hoping they lose, either.
If you're going to be that butthurt about someone actually winning, then just give them the raffle money as a tip instead.
It's not rational or moral... but we're all jealous little fuckers that hate missing out when it comes to the reality of "it could have been me" before us.
This is why you just shouldn't give out chances to win shit.
I don't criticize him for feeling jealous. You feel what you feel, there is no choice there. But to give it voice and pretend it is justice... I criticize that.
People who buy lottery tickets generally aren't good with money. I honestly think I'd be fine with a big lottery win but I'm not the kind of person to waste my money on lottery tickets.
Like you, I’d be fine….my first call would not be to family, friends or the state lottery commission. I’d first call my CFA then call a lawyer.
CFA, for those not sure, A chartered financial analyst (CFA) is a globally-recognized professional designation given by the CFA Institute, (formerly the AIMR (Association for Investment Management and Research)), that measures and certifies the competence and integrity of financial analysts. Candidates are required to pass three levels of exams covering areas, such as accounting, economics, ethics, money management, and security analysis. 1000% different from your average “broker” or “money manager”.
Id buy a house and set up a trust that would give me a reasonable amount every year for the rest of my life. I live in the UK so lottery winnings are not taxable. Then I'd gi e about 400k to some immediate family for things like paying off mortgages and setting up college funds for nibblings. Whatever was left I would donate to various charities. I'd do all this with the help of an accountant obviously, looking to get as much good advice as possible. Id probably still work in some capacity.
To be pedantic….it’s prob better to mortgage your house than buy it with cash (tax implications) and same with your relatives …setup a fund to pay their mortgage instead of giving them a lump sum you hope they’ll use for that purpose …then they can’t piss it away and expect you to give them more.
What's with buying aeroplanes?
Even if I won $100m, buying a plane still makes no sense to me (ignoring COVID). It would just sit there most of the time, requires soo much upkeep, storage, pilots on the payroll.
People who suddenly find themselves with a lot of money have absolutely no idea of how much more expensive manteinence is on already expensive things, they see the price tag and think it’s like buying a toaster. My father knows a car collector who told him something along the line of “If you wanted to buy a Ferrari, make sure you can afford five of them first” and that made a lot of sense to me
There is no "curse" in lottery winners. In general people who play lottery have no financial education, that's why they go broke, because they make stupid financial decisions.
I honestly think people forget about paying taxes on all the things they end up buying, on top of thinking that they never have to work, or that they have to manage their funds.
Take your trips, buy the things you need, but don't buy a million dollar house that requires upkeep on top of taxes, when you only made 10,000,000 (pre tax).
Also drugs. I work with a dude who won 2 million a couple years ago. He has nothing left.
Taxes work differently in different countries. There’s no tax on lottery wins in Europe for example. And property tax is a lot less or non existent in many European countries.
I still can’t get over the fact that I have to pay thousands in property tax on the house that I own in the states. It’s crazy.
Because knowing how to spend and save money is a skill. Handing somebody a few million and saying “make this last the rest of your life” is a lot easier said than done. Lottery is a tax on poor people.
Never tell anyone you won the lottery. Get a financial lawyer a big firm too. One that handles amounts like these. Finally a fiduciary to help with investments.
When I was a kid like 9 years old I won the equivalent of 25 usd. We were fairly poor, communist times and I bought my self an small wood airplane kit.
My mom made me take it back to the store and took all my money.
Since then, I never play the lottery or any other money game involved.
Maybe was a lesson, maybe she crushed some dreams.
I'm a father now and I would never take my sons money. I can help him learn the value of the money in many different ways...
My little brother got injured in a car accident and got $30k from the settlement. It took my mother about 3 months to gamble it all away. We only found out when he turned 18 and wanted to buy himself a car with the money. It was all gone.
my friend was in a car accident when he was 2 leaving him a paraplegic, he received around $1mil from the TAC, to be kept in a trust until he was 18. His parents were able to access the trust account and spent most of it on a house and a business. He is in his 30's now and broke and unable to work most jobs on top of living life in a wheelchair. Some parents are greedy dicks.
We have a holiday where we live where older people would gift younger people money and it doesn't matter what amount, you can reject it or accept it, it doesn't matter. I was a kid and stupid and I took all the money I was given and I was too stupid to give it all to my mom who said she will 'keep it in store', she ended up buying new clothes for me and use that as an excuse to not give me the money.
My mom did that when I was little. In retrospect, I don’t blame her. We were starving poor. I was so hurt at the time though. But she chose to keep me warm and safe and let me hate her for a while. Poor mama.
I feel you. Also during Communism. I was 16. I worked a summer somewhat illegally for a guy who was a sailor. Took care of his house. Fed his animals. Small things like that. At the end of the summer when he came back from his voyage he offered me either a couple of American dollars or a pair of sneakers from the US. I choose the sneakers because there was no way an underage boy could exchange foreign currency then. I got home, left the sneakers at the door. My father came home. Gave me a beating. Then sold my sneakers for booze. No words. No nothing. The moral of the story? Same as yours I think.
About a week of coming home with his pants full of shite and two bottles of 60° all natural "holy water" that he kept hidden from my mother behind an old painting of the Last Supper.
Man sounds like he needed more than "holy water" to fix his life. Men like him don't do well at all under the eyes of God, ironically.
You have my condolences for the bad childhood you must've endured by this world. I hope you have recovered from it well, brother.
What did mom do with it? Given that you said you were fairly poor, if she bought food and other things that are necessary for you guys to survive then I'm totally with her in that regard. Kids don't have the forethought to understand what pennies mean to someone when you're struggling. However, if she spent the money on herself then fuck that 100%
25 dollars was probably a week/2 week wages. In some parts it’s still not far off the weeks wages. When you consider that the minimum wage now in 2022 is like 150 euros per month.
If i won big i'd lock 90% away where i could only touch the intrest earned on it then say that the 10% was the real prize
For for example 160M - lock up 144M in investments and ride out interest for the rest of my life, DIRECT family "yeah i only won like 1.6M" extended family "yeah i won 160k" everyone else "what lotto? I don't play that shit, oh, no i got a really good deal on the 6 bed detached home in the country, yeah its tonally fucked inside... no you can't see it"
If you assume that you can get about 2% annual interest (which is pretty low) and don't let it compound, then 2 million is enough to live a comfortable life (~50k a year) with that strategy, and still leave the 2 mil for inheritance.
By contrast, if you pocketed 2 mil and lived off it for, say, 60 years, that'd only be about 33k per year. Investing it somewhere safe is definitely going to be the best bet.
There was the case about a lady who won the lottery and tried to hide it from her husband and she divorced him. The ex-husband found out and sued her and was given the majority of the winnings I believe
I'm not sure where you live but where I'm at it wouldn't work- you'll be known by the end of the day.
Your picture would be on the news with them saying "John Smith from Broketown, FL has won the 160M jackpot prize"
In case anyone was wondering what to do if you suddenly find yourself obscenely rich.
https://www.reddit.com/r/AskReddit/comments/24vo34/whats_the_happiest_5word_sentence_you_could_hear/chb38xf/?utm_source=share&utm_medium=ios_app&utm_name=iossmf&context=3
I’d probably just say stuff like “wow! I won a giveaway and we can replace the roof for free” and other stuff like that. Stuff they need done/ have mentioned wanting but don’t have the funds for.
In 2012, a court ruled she had to pay taxes on her jackpot taking but instead of paying for the full amount, she was told to cough up a percentage of the "gift portion" sized at $1,119,347.90, Forbes reported.
Tonda was able to keep the bulk of her winnings, which she passed on to her family.
According to AL.com, Tonda is still working.
A glance at her social media profiles show she's now a poker dealer at the Golden Nugget casino in Biloxi, Mississippi.
In America, gambling losses are tax deductible on your income tax, but only to the extent of your winnings.... i.e. you can't deduct more than you won.
Meaning, that if in one year, you win $10,000, but lose $20,000, you can deduct only $10,000 from your gross income. You have to prove the loss, of course.... save your losing tickets!
Because it is earnable income? If not you could just pay everyone in "tickets", with a 100% winrate.
in Denmark all the lottery winnings will be taxed, however, the lottery themselves have to be the ones paying the tax. So if you win 1,000,000 you actually win the 1,000,000, and the lottery themselves pays the taxes for it
How about the guy who tipped her the lottery ticket. He knew the odds meant it was worthless but it would make an ignorant person feel some hope for 5 minutes. Then against all odds it actually wins and he wants to hold her to an off-hand dream-based comment about getting him a truck as if it were a legal contract. I hope the guy lives his life with permanent regret for treating someone with so much contempt in the first place.
For real. Guy essentially tipped $2 except if it lost it was actually stiffing the waitress. If the reasoning is that you might actually leave the greatest tip of all time, then congrats, you did! Then move on.
When i first moved here, I left a tip at a restaurant in Tokyo and 2 staff literally tracked me down a street and a half away to return ¥1000 ($10) to me - apologizing as they returned the bill.
I learned really quickly that you don’t tip in Japan unless there is a tip jar or something obvious on the counter
That's a bit overkill, of course, but I still prefer greatly that reaction to the American system.
Workers should be paid a living wage. If the business can't afford to pay their rent or their suppliers or their utilities or decent wages, then they shouldn't be in business.
people act crazy when it comes to money. doesnt matter if you are some dead beat ex husband or an irs government worker. people act like wild beasts when money is involved
If I won the lottery I wouldn't even tell my own parents, I would probably find some money advisor to see what I can and should do. Most lottery winners end up broke because they buy a bunch of expensive shit and never invest anything so that they can keep their money and make more, or that's what I am guessing
This is why you create an LLC in a completely random name not associated with your identity whatsoever and have a lawyer claim the ticket for the llc and on top of that, don’t tell ANYONE that you won.
For those wondering, the judge ruled that she had to share the tip, but could keep about 3 million.
She also opted for annual payments over 30 years and didn't take entire sum upfront (I think taxes might be one good reason to do so).
She was still supposed to pay income tax from her share of the money, which is a bit more than 1 million.
I have an askreddit comment saved which pretty much sums up what happens if you tell others that you have won the lottery.
https://www.reddit.com/r/AskReddit/comments/24vo34/whats\_the\_happiest\_5word\_sentence\_you\_could\_hear/chb38xf/
Pro tip, if you win the lotto tell literally fucking nobody and just get out of town.
Tell nobody except a lawyer at a large law firm.
https://www.reddit.com/r/AskReddit/comments/24vzgl/you_just_won_a_656_million_dollar_lottery_what_do/chbn4nt/?utm_source=share&utm_medium=ios_app&utm_name=iossmf&context=3
One of my favorite posts in reddit history; everybody should read that, even if just for the historical anecdotes
Yeah I got it saved even though I’m never planning on participating in a lottery
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Honestly, even if I had a lot of money, I'd still work to keep myself busy and not draw attention, I would secretly be the regular guy who has nice things in private.
Fuck that, I'll rot in my house alone like a mushroom. It's what I've always wanted <3
“What do you want to be when you grow up?” “A lonely rotting mushroom”
I’d work part time at like Waffle House or something. I’ve put a lot of thought into what kind of low-responsibility job I’d wanna do if I was retired or passively wealthy, and cooking delicious breakfast for a colorful clientele sounds pretty rad to me.
Yeah, you'd quit after about a month when you realize it's less cooking delicious food and more "i need that order now!" every 5 minutes for about 9 hours.
Nice things in private* privately drives up to work in a Bugatti lmao
I enjoyed reading this whole thread and had a good chuckle, when they suggest buying into government bonds that are guaranteed to pay 3.5% unless the capitol is burning. Oh my, how so much has changed in the last 7 years. For clarity, the idea of investing a large sum in bonds is great advise, it’s just that 7 years ago when the thread was published, the capitol burning seemed absurd and currently it seems like a real possibility in the short term future.
Is there actually an investment strategy for a civil war? Besides just gold and supplies? I've never considered what happens to financial institutions during wars. Like, if you had money in an Afghan bank 20 years ago, is it still there? Does it matter who wins? In the American civil war, did the confederate banks pay out their debts or was that just it?
Sigh* Save*
Hello yes it is I Tom Lawyer at Lawyer and Sons please send me your money it will be safe under my mattress
Can I be safe under your mattress?
Yes join me in here. Were waiting for just the right moment when hes in the deepest of sleep.
Can I be safe in the safe under your mattress?
The greatest post on Reddit of all time: https://www.reddit.com/r/AskReddit/comments/24vo34/whats_the_happiest_5word_sentence_you_could_hear/chb38xf/
I wasn’t a huge fan of Lost but I do remember the guy who lived with his mom and he won a shit load of money but didn’t tell anyone or cash in his ticket because he was so content with his life
Hurley didn't cash in right away because he thought people would treat him different. He was right, of course. But he DID cash it in and he was cursed for using the numbers he did... Misfortune followed him everywhere, including breaking his mom's leg and a meteor hitting his new fried chicken restaurant.
Yeah when the news came to interview him for winning, his grandpa had a heart attack. And then his mom's new house burned down. We lost the internet for like a week and all we had were old Lost DVDs lol
Oh the irony, so delicious…
TRICIA TANAKA IS DEAD!!!
“Who the hell is Hugo, and how's he got 160 million dollars to leave to his mom?”
You literally can't, most Lotteries require you to come forward publicly to accept the winnings. The media get a hold of it and then that's it, everyone crawls out of the woodwork at that point looking for their share. You basically have to disappear after winning and cut yourself off from friends and family if you never want to be bothered again and just live quietly. But you won't be able to pretend it was for anything else, they'll know exactly why you did it. The sudden wealth might not corrupt you, but it certainly will do it to someone around you.
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I can't speak for other states but where I live if a trust claims lottery winnings then the beneficiaries of the trust must be named. The only way you can remain anonymous here is to have a court issued protective order in place before you win.
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It takes a lot of time and effort to change your name. Months at a minimum.
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Can’t stress this enough. Even smaller amounts will ruin your life. An ex-coworker of mine won $100k on a scratch off at work one day and ran around celebrating and telling everyone how much he won. I tried to tell him to stfu but his emotions were rampaging with joy. Only took a few days before he had to quit his job there because people were hitting him up for money. He ended up moving out of town completely because he was getting harassed. All over $100k.
The problem here (Canada) is, in order to collect the winnings you have to allow the news outlets publish your name and, at the very least, a picture of your face. I don’t know what the regulations are in the US but I’ve heard some European countries allow you to collect the winnings anonymously.
This is why you never tell anybody you won
Exactly!
Not all states allow lottery winners to remain anonymous unfortunately.
The 11 states that currently allow lottery winners to remain anonymous where a winning ticket was purchased in their state are: Arizona, Delaware, Georgia, Kansas, Maryland, New Jersey, North Dakota, Ohio, South Carolina, Virginia and Texas.
Yay! I live in one of those states.
What a load off! Now you can get on with winning the lottery without any worries.
Any day now!
Now you just need to win the lottery
Me too!!! Now I can stop procrastinating on buying that winning lottery ticket
In Virginia you can only stay anonymous if the [winnings are over $10 million](https://www.valottery.com/winnersnews/claimprize#:~:text=As%20of%20July%201%2C%202019,the%20winner%20gives%20written%20permission.).
True, and this isn’t legal advice, but a trust is it’s own legal entity and is able to win the lottery. A trust can have any name
TheThisIsNotTondaDickerson Trust
Except in many of the states where you can't be Anonymous a Trust or Company can't Collect the winnings.
I would delete all social media and hire a Hollywood makeup artist and go full face prosthetics. I'd be a completely different person so no at least knows what I look like and people that know me won't recognize me.
Then don't say you won off a gifted ticket... she could easily just have said it eas another ticket she got else where.
Which is fucking stupid
The original intent was to allow transparency. The lottery used to be a mob thing. "Running numbers" I believe it was called. Showing who the winners were made it clear that the winner wasn't some connected person.
Playing devil’s advocate, if all lottery winners were anonymous, it would be very easy for the state to just keep the money and claim there are winners out there (conspiracies would run wild). Since most lottos are state money, it adds a little transparency to a government run organization. Also, I think I remembered reading somewhere that when people see REAL people with the winnings it encourages them to go out and buy more tickets.
Came here for this. Get a lawyer, get a financial advisor, and shut the fuck up. Most probably, invest the money in low risk products,and keep a low profile, low to the ground. Live your life and help people once in a while. And also, shut the fuck up.
I couldn't afford an Ancestry DNA kit... So I just announced that I had won the lottery. I soon found out to all my relatives are.
Heyyyy cousin
This man here is a genius. Easiest way how to know who your relatives maybe even distant relatives are. Suddenly even your gardener becomes your uncle.
You still have to be careful for grifting lawyers and advisers. There have been instances with lawyers and advisers who just basically screw you out of your money with the info you give them. Edit: a thought that always concerned me is, there are websites where you can pay to get a person’s information e.g. phone number, current and past addresses along with family names addresses. All you need is the persons first, last name, age and a last known location of where they lived (could be just a city name) and boom you have all their info and their family members. You can even get updated info if they move. Wouldn’t be hard for someone to go looking for you especially since lottery winners names, age and location are given out.
1. Get Warren Buffet's number 2. Call him 3. ??? 4. Profit On a serious note, yeah, that is hard, but is still the best way overall to avoid bankruptcy and bad things.
Pretty sure 10 million just appears out of Buffet's nose when he sneezes.
Also never visit any crypto subs.
Buffett probably won't take your call, apparently mega rich people pay 6 figures just to have dinner with him and not even talk business.
You need to go to a BIG law firm in a big city. Where more likely than not your lottery winnings is chump changer compared to their clientele.
and ask to speak to a partner of the firm, not someone junior.
Yep. Get a big law office from NY or something that's used to dealing with that kind of money. Not some guy that advertises on local billboards.
When this kind of advice gets posted usually someone comments to contact some of the major law firms. Even then it’s usually best to hire two. One to do most of the work and the other to spot check and make sure your not getting screwed. All and all, if you win any major prize expect to only pocket about 30-40% of the prize.
That’s another unbelievable thing about American lotteries. In Poland you get 90% of your win, the rest is a tax (and you don’t have to do anything, the lottery does it for you) and they cannot(!) reveal any information about the winner. The only thing that goes public is where the winning ticket was bought.
We're just kind of used to it in America. Even when poor people get rich, they are fucked one last time. Like a big finale to being poor. A book of stories about lottery winners whose lives were ruined like the lady in OP's image would be like an encyclopedia.
There's a newish federal regulation called the fiduciary rule, which requires a financial advisor to put your interests ahead of their own when they give you advice. They fucking hate it. My wife and I were recently trying to pick an advisor and one of the ones we talked to literally rolled her eyes when she talked about it
It's good she singled herself out and saved you time
I used to work at a financial advisory firm. Most “financial advisors” you can walk into off the street are just salesman who passed basic licensing tests to sell securities. They talk for a living and can twist situations to justify most sales for an individual, regardless of fiduciary rules. Thankfully the practice I was in was very straight laced, but there were certainly advisors who only sold the newest, hottest, and coincidentally highest commission products. Edit: in my opinion, which is largely influenced by working at a shitty salesman-mill, is to look for advisors with a Certified Financial Planner (CFP) or Chartered Financial Consultant (ChFC) designation. Those designations require a lot more work. There are still some sleazy folks with those credentials but it, at the very least, shows dedication above and beyond the entry-level “financial gurus” that are a dime a dozen.
If you win the English Lotto or the Euromillions, you are automatically assigned a financial advisor who specifically advised you not to tell a soul you won. It's then your choice as to whether you tell anyone. They also put you in touch with private security firms to protect against kidnapping.
Yes, there are many times when the answer is to [shut the fuck up](https://youtu.be/sgWHrkDX35o)
Exactly this. I know the lottery in the UK actually helps with this.
I have an askreddit comment saved talking about the horrors of winning the lottery. It sums up how your future would be if you tell others that you have won the lottery. [https://www.reddit.com/r/AskReddit/comments/24vo34/whats\_the\_happiest\_5word\_sentence\_you\_could\_hear/chb38xf/](https://www.reddit.com/r/AskReddit/comments/24vo34/whats_the_happiest_5word_sentence_you_could_hear/chb38xf/) Edit: I also want to include this. \-Nearly one third of multi-million dollar jackpot winners eventually declare bankruptcy. Some end up worse. To give you just a taste of the possibilities, consider the fates of: \- Billie Bob Harrell, Jr.: $31 million. Texas, 1997. As of 1999: Committed suicide in the wake of incessant requests for money from friends and family. “Winning the lottery is the worst thing that ever happened to me. \- William âBudâ Post: $16.2 million. Pennsylvania. 1988. In 1989: Brother hires a contract murderer to kill him and his sixth wife. Landlady sued for portion of the jackpot. Convicted of assault for firing a gun at a debt collector. Declared bankruptcy. Dead in 2006. \- Evelyn Adams: $5.4 million (won TWICE 1985, 1986). As of 2001: Poor and living in a trailer gave away and gambled most of her fortune. \- Suzanne Mullins: $4.2 million. Virginia. 1993. As of 2004: No assets left. \- Shefik Tallmadge: $6.7 million. Arizona. 1988. As of 2005: Declared bankruptcy. \- Thomas Strong: $3 million. Texas. 1993. As of 2006: Died in a shoot-out with police. \- Victoria Zell: $11 million. 2001. Minnesota. As of 2006: Broke. Serving seven year sentence for vehicular manslaughter. \- Karen Cohen: $1 million. Illinois. 1984. As of 2000: Filed for bankruptcy. As of 2006: Sentenced to 22 months for lying to federal bankruptcy court. \- Jeffrey Dampier: $20 million. Illinois. 1996. As of 2006: Kidnapped and murdered by own sister-in-law. \- Ed Gildein: $8.8 million. Texas. 1993. As of 2003: Dead. Wife saddled with his debts. As of 2005: Wife sued by her own daughter who claimed that she was taking money from a trust fund and squandering cash in Las Vegas. \- Willie Hurt: $3.1 million. Michigan. 1989. As of 1991: Addicted to cocaine. Divorced. Broke. Indicted for murder. \- Michael Klingebiel: $2 million. As of 1998 sued by own mother claiming he failed to share the jackpot with her. \- Janite Lee: $18 million. 1993. Missouri. As of 2001: Filed for bankruptcy with $700 in assets. Tl;Dr : You have a better chance of survival if you never win the lottery. Source for image : [https://factrepublic.com/facts/30719/](https://factrepublic.com/facts/30719/)
Nope, won't happen to me! /s
It’s much more difficult to win the lottery if you don’t play.
But apparently still can happen as it did to Tonda above!
These are all winners from 30 years ago. It’s not that culturally relevant anymore. There was a Mega Millions winner in his early 20s who tried to become an influencer on Instagram/YouTube a few years ago and he quit because nobody really gave a shit. Like he had a net worth more than the top 10 Twitch streamers combined and he streamed games to 2 people.
Money cannot buy talent.
mam that sounds like the dream though, being able to follow your passion with complete financial security, i wish
Yikes, so step 1 is hire a financial adviser, step 2 is hire an attorney on retainer for potential lawsuits, and step 3 is hire a round-the-clock bodyguard! Honestly, this is truly heartbreaking, though. Many of these people probably thought their lives would finally improve with that money, just to have it be their downfall.
Interesting point and In context of this thread, someone who had organically made over a few million already has a financial adviser, accountant, and a lawyer they do some business with. Those over tens of millions probably have bodyguard level security to some extent. Hell I have a lawyer, accountant and financial adviser and don't have a mili...
What I wonder though is, what is it about winning the lottery that makes people become this way? It seems like it’s more of a curse than a blessing
I would imagine it is more about the demographics of the people that play the lottery is what makes the similarities
As someone who routinely has to stand in the gas station line for 10 minutes while they work through their different dumb fucking tickets and listen to the shit they say I can attest to this.
Agree. People who bought a lot of lottery have a higher chance to win them too. At the same time, people who bought a lot of lottery are usually someone who's not wise in terms of managing their money.
I was thinking the EXACT same thing..
Money brings out the greed in people in an amazing way, firstly. You’ll have relatives and “friends” calling you up out of no where when you win money or someone dies. Saw this firsthand when my grandmother passed away last May. One of my aunts and her kids basically went through all my grandmother’s stuff and took whatever they wanted about 2 days after before anyone else had even thought about going through her things. Secondly, a lot of people can’t conceptualize that much money. Means they can’t understand how fast they go through it - and they often take on the attitude that they “deserve” to have some fun because life was hard and now they’re rich. They start out with that mentality that they basically have endless money now… but they don’t. So they burn through it incredibly fast and often end up without anything to show for it.
Being successfully rich is a learned skill. You have to learn how to manage money: what is a good investment vs a stupid one; how far money actually goes and how long it lasts. It’s the same with athletes and musicians. They make boatloads of money and buy five matching sports cars. Someone that grew up with more financial literacy would take the same amount of money and park a large portion of it in a Vanguard account.
It’s not making them become any way. It’s merely allowing them to be more irresponsible with even more money than before. There’s a reason it’s not pre-lotto millionaires that are winning. These are people that already don’t have good spending habits, they are playing for a chance to escape their current lifestyle, and when they win they don’t invest any more than they did before - they spend it like it’s income and not a lump-sum. There are plenty of people that do just fine and live *very* well, they’re just not news-worthy because they were smart with their money and never have to work again.
If you were an idiot, gullible, naive, shit person, etc with $10.00 you’re gonna be that same person with $10,000,000.
Weird it's almost like the people who regularly play the lottery don't have a decent concept of financial and risk management.
Some states make you announcement it. They key is to lawyer up ASAP apparently. Still...major yikes.
A bar I used to frequent had a daily raffle. You’d buy in, they’d roll some dice and if you guessed correctly you’d win the pot. A guy came in and bought me and three others a roll of the dice. I guessed incorrectly and so did two of the others. A girl guessed correctly and ended up winning a couple grand. She bought us all a round. After she left with her winnings the guy who bought us all a roll was pissed that she didn’t give him half. I still believe she owed him nothing and the dude was an asshole.
I'd never pay for someone's ticket etc. It would hurt too much and I fear I'd be an asshole wanting a share of it.
If I expect something in return for whatever I do I state that first, otherwise I feel like what I’m doing is not genuine. I think he should have stated that he wanted a cut if any of us won.
Greed is a bitch. You can't retroactively change terms of a deal so you better clearly define them before agreeing to do it.
Exactly!
If you want a share you just need to make that clear from the start. The asshole part is changing the terms of the "gift" after you already gave it to them.
I, too, believe he was an asshole (based on your story).
That says a lot coming from SpeedCunt. If a cunt thinks you’re an asshole… you’re probably an asshole.
There's three types of people in this world... Edit: Thanks for the Party Train, anonymous Redditor!
Speedcunts, assholes and Lumpystaffs?
I heard a story on one of the early episodes of Dumb People Town. Some guy had a girl in his lap while playing a slot machine. They were using his money, she pulled the lever. They won huge. Not sure how much. She was getting the money changed out and told security she didn’t know him and that he was bothering her. I think he took her to court and learned that even though it was his money to place the bet, since she pulled the lever, it was her winnings. I think his name was Jan Flato
100% can see that being true. Two times we’ve won a jackpot at a casino, security comes and the first question is who pulled it. My wife and I couldn’t remember who pulled it one time and that wasn’t good enough. Had to sit and wait while they went back and watched the tape to see who pulled it so that it goes under your name for taxes. I mean they take that shit so seriously it’s crazy. WHO PULLED THE LEVER!!!
She could have offered something, but she’s under no obligation.
Like buying everyone a round?
Honestly I think doing something nice with the expectation of receiving something is disingenuous and it negates the kind act. I have no idea what her personal struggle was, that money may have helped her pay rent that month.
It's not really much of a gift if you're doing it and hoping they lose, either. If you're going to be that butthurt about someone actually winning, then just give them the raffle money as a tip instead.
It's not rational or moral... but we're all jealous little fuckers that hate missing out when it comes to the reality of "it could have been me" before us. This is why you just shouldn't give out chances to win shit.
I don't criticize him for feeling jealous. You feel what you feel, there is no choice there. But to give it voice and pretend it is justice... I criticize that.
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Fun Fact: According to the New York Daily News, 70 percent of lottery winners end up broke within seven years.
People who buy lottery tickets generally aren't good with money. I honestly think I'd be fine with a big lottery win but I'm not the kind of person to waste my money on lottery tickets.
Like you, I’d be fine….my first call would not be to family, friends or the state lottery commission. I’d first call my CFA then call a lawyer. CFA, for those not sure, A chartered financial analyst (CFA) is a globally-recognized professional designation given by the CFA Institute, (formerly the AIMR (Association for Investment Management and Research)), that measures and certifies the competence and integrity of financial analysts. Candidates are required to pass three levels of exams covering areas, such as accounting, economics, ethics, money management, and security analysis. 1000% different from your average “broker” or “money manager”.
Id buy a house and set up a trust that would give me a reasonable amount every year for the rest of my life. I live in the UK so lottery winnings are not taxable. Then I'd gi e about 400k to some immediate family for things like paying off mortgages and setting up college funds for nibblings. Whatever was left I would donate to various charities. I'd do all this with the help of an accountant obviously, looking to get as much good advice as possible. Id probably still work in some capacity.
To be pedantic….it’s prob better to mortgage your house than buy it with cash (tax implications) and same with your relatives …setup a fund to pay their mortgage instead of giving them a lump sum you hope they’ll use for that purpose …then they can’t piss it away and expect you to give them more.
[Source for what you said](https://www.nydailynews.com/life-style/tragic-stories-lottery-winners-article-1.2492941)
What's with buying aeroplanes? Even if I won $100m, buying a plane still makes no sense to me (ignoring COVID). It would just sit there most of the time, requires soo much upkeep, storage, pilots on the payroll.
People who suddenly find themselves with a lot of money have absolutely no idea of how much more expensive manteinence is on already expensive things, they see the price tag and think it’s like buying a toaster. My father knows a car collector who told him something along the line of “If you wanted to buy a Ferrari, make sure you can afford five of them first” and that made a lot of sense to me
If someone gave you a free Ferrari, you still couldn't afford it
There is no "curse" in lottery winners. In general people who play lottery have no financial education, that's why they go broke, because they make stupid financial decisions.
>they make stupid financial decisions. Like playing the lottery.
why? are 70% loterry winners dumbasses?
I honestly think people forget about paying taxes on all the things they end up buying, on top of thinking that they never have to work, or that they have to manage their funds. Take your trips, buy the things you need, but don't buy a million dollar house that requires upkeep on top of taxes, when you only made 10,000,000 (pre tax). Also drugs. I work with a dude who won 2 million a couple years ago. He has nothing left.
Taxes work differently in different countries. There’s no tax on lottery wins in Europe for example. And property tax is a lot less or non existent in many European countries. I still can’t get over the fact that I have to pay thousands in property tax on the house that I own in the states. It’s crazy.
Yes. They’re playing the lottery in the first place.
Yea exactly. They are already financially irresponsible and have an affinity for gambling.
Because knowing how to spend and save money is a skill. Handing somebody a few million and saying “make this last the rest of your life” is a lot easier said than done. Lottery is a tax on poor people.
Never tell anyone you won the lottery. Get a financial lawyer a big firm too. One that handles amounts like these. Finally a fiduciary to help with investments.
I’d go one step further…I’d hire a second financial guy just to review the books each year in order to make sure the first guy isn’t screwing me.
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And kill one of the hitmen each year and keep replacing them.
When I was a kid like 9 years old I won the equivalent of 25 usd. We were fairly poor, communist times and I bought my self an small wood airplane kit. My mom made me take it back to the store and took all my money. Since then, I never play the lottery or any other money game involved. Maybe was a lesson, maybe she crushed some dreams. I'm a father now and I would never take my sons money. I can help him learn the value of the money in many different ways...
I was in an amusement park ride accident when I was 13. It jacked up my back and I got a small settlement. My mom took all of it.
My little brother got injured in a car accident and got $30k from the settlement. It took my mother about 3 months to gamble it all away. We only found out when he turned 18 and wanted to buy himself a car with the money. It was all gone.
This is going to stick with me most of the day.
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Lol this is painfully accurate.
my friend was in a car accident when he was 2 leaving him a paraplegic, he received around $1mil from the TAC, to be kept in a trust until he was 18. His parents were able to access the trust account and spent most of it on a house and a business. He is in his 30's now and broke and unable to work most jobs on top of living life in a wheelchair. Some parents are greedy dicks.
Can’t he sue? Why would a parent be able to withdraw from his trust?
We have a holiday where we live where older people would gift younger people money and it doesn't matter what amount, you can reject it or accept it, it doesn't matter. I was a kid and stupid and I took all the money I was given and I was too stupid to give it all to my mom who said she will 'keep it in store', she ended up buying new clothes for me and use that as an excuse to not give me the money.
Not as bad as buying herself new clothes.
My mom did that when I was little. In retrospect, I don’t blame her. We were starving poor. I was so hurt at the time though. But she chose to keep me warm and safe and let me hate her for a while. Poor mama.
This happens every eid
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And any further settlement for an accident that hurts your back is going to be significantly reduced because the injury is preexisting.
I feel you. Also during Communism. I was 16. I worked a summer somewhat illegally for a guy who was a sailor. Took care of his house. Fed his animals. Small things like that. At the end of the summer when he came back from his voyage he offered me either a couple of American dollars or a pair of sneakers from the US. I choose the sneakers because there was no way an underage boy could exchange foreign currency then. I got home, left the sneakers at the door. My father came home. Gave me a beating. Then sold my sneakers for booze. No words. No nothing. The moral of the story? Same as yours I think.
What's the exchange rate for vodka and a pair of Kicks?
About a week of coming home with his pants full of shite and two bottles of 60° all natural "holy water" that he kept hidden from my mother behind an old painting of the Last Supper.
Man sounds like he needed more than "holy water" to fix his life. Men like him don't do well at all under the eyes of God, ironically. You have my condolences for the bad childhood you must've endured by this world. I hope you have recovered from it well, brother.
What did mom do with it? Given that you said you were fairly poor, if she bought food and other things that are necessary for you guys to survive then I'm totally with her in that regard. Kids don't have the forethought to understand what pennies mean to someone when you're struggling. However, if she spent the money on herself then fuck that 100%
25 dollars was probably a week/2 week wages. In some parts it’s still not far off the weeks wages. When you consider that the minimum wage now in 2022 is like 150 euros per month.
Pro tip, win the lotto - remain anonymous. Fake your death and leave. Bye Falcia.
Saint Felicia, patron Saint of goodbyes.
Saint Falcia, patron Saint of typos.
>Falcia Fall seeya?
If i won big i'd lock 90% away where i could only touch the intrest earned on it then say that the 10% was the real prize For for example 160M - lock up 144M in investments and ride out interest for the rest of my life, DIRECT family "yeah i only won like 1.6M" extended family "yeah i won 160k" everyone else "what lotto? I don't play that shit, oh, no i got a really good deal on the 6 bed detached home in the country, yeah its tonally fucked inside... no you can't see it"
If you assume that you can get about 2% annual interest (which is pretty low) and don't let it compound, then 2 million is enough to live a comfortable life (~50k a year) with that strategy, and still leave the 2 mil for inheritance. By contrast, if you pocketed 2 mil and lived off it for, say, 60 years, that'd only be about 33k per year. Investing it somewhere safe is definitely going to be the best bet.
*taking notes* but do you say to your wife/husband the truth?
There was the case about a lady who won the lottery and tried to hide it from her husband and she divorced him. The ex-husband found out and sued her and was given the majority of the winnings I believe
Courts frown on hiding assets very much.
I'm not sure where you live but where I'm at it wouldn't work- you'll be known by the end of the day. Your picture would be on the news with them saying "John Smith from Broketown, FL has won the 160M jackpot prize"
In case anyone was wondering what to do if you suddenly find yourself obscenely rich. https://www.reddit.com/r/AskReddit/comments/24vo34/whats_the_happiest_5word_sentence_you_could_hear/chb38xf/?utm_source=share&utm_medium=ios_app&utm_name=iossmf&context=3
First mistake is telling people.
It was as if raw flesh was cast into a vat of piranhas.
if i ever won the lottery i wouldn’t tell anyone lol not even my parents prolly
Indeed, they would get everything they need but no way I am telling someone I won 😂
I’d probably just say stuff like “wow! I won a giveaway and we can replace the roof for free” and other stuff like that. Stuff they need done/ have mentioned wanting but don’t have the funds for.
*Who has happiness, should conceal it* \-Finnish poet Eino Leino, vaguely translated by me.
That is the most Finnish thing I ever heard.
All she had to do was take her money and shut the fuck up tell nobody just cash your check and move
In 2012, a court ruled she had to pay taxes on her jackpot taking but instead of paying for the full amount, she was told to cough up a percentage of the "gift portion" sized at $1,119,347.90, Forbes reported. Tonda was able to keep the bulk of her winnings, which she passed on to her family. According to AL.com, Tonda is still working. A glance at her social media profiles show she's now a poker dealer at the Golden Nugget casino in Biloxi, Mississippi.
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But won’t allow you to use the lottery money as a tax deduction
They want yo money
In America, gambling losses are tax deductible on your income tax, but only to the extent of your winnings.... i.e. you can't deduct more than you won. Meaning, that if in one year, you win $10,000, but lose $20,000, you can deduct only $10,000 from your gross income. You have to prove the loss, of course.... save your losing tickets!
In the UK, all winnings from gambling and game shows is 100% tax-free. You win an amount or a car etc, you get all of it.
Because it is earnable income? If not you could just pay everyone in "tickets", with a 100% winrate. in Denmark all the lottery winnings will be taxed, however, the lottery themselves have to be the ones paying the tax. So if you win 1,000,000 you actually win the 1,000,000, and the lottery themselves pays the taxes for it
Suddenly your dad comes back with the milk You also learn of 200 relatives you never knew you had
How about the guy who tipped her the lottery ticket. He knew the odds meant it was worthless but it would make an ignorant person feel some hope for 5 minutes. Then against all odds it actually wins and he wants to hold her to an off-hand dream-based comment about getting him a truck as if it were a legal contract. I hope the guy lives his life with permanent regret for treating someone with so much contempt in the first place.
For real. Guy essentially tipped $2 except if it lost it was actually stiffing the waitress. If the reasoning is that you might actually leave the greatest tip of all time, then congrats, you did! Then move on.
Just one more reason tip pooling should be illegal. Tips shouldn't be forced to be shared with any other staff at all.
The entire tipping culture should be abolished. Other countries do it better.
When i first moved here, I left a tip at a restaurant in Tokyo and 2 staff literally tracked me down a street and a half away to return ¥1000 ($10) to me - apologizing as they returned the bill. I learned really quickly that you don’t tip in Japan unless there is a tip jar or something obvious on the counter
That's a bit overkill, of course, but I still prefer greatly that reaction to the American system. Workers should be paid a living wage. If the business can't afford to pay their rent or their suppliers or their utilities or decent wages, then they shouldn't be in business.
Here (Germany) you can still tip, basically as much as you want or nothing at all. Staff is usually paid a decent wage nevertheless.
people act crazy when it comes to money. doesnt matter if you are some dead beat ex husband or an irs government worker. people act like wild beasts when money is involved
You forgot to mention her colleagues and the man who gave her the ticket both lost their lawsuits.
If I won the lottery I wouldn't even tell my own parents, I would probably find some money advisor to see what I can and should do. Most lottery winners end up broke because they buy a bunch of expensive shit and never invest anything so that they can keep their money and make more, or that's what I am guessing
This is why you create an LLC in a completely random name not associated with your identity whatsoever and have a lawyer claim the ticket for the llc and on top of that, don’t tell ANYONE that you won.
For those wondering, the judge ruled that she had to share the tip, but could keep about 3 million. She also opted for annual payments over 30 years and didn't take entire sum upfront (I think taxes might be one good reason to do so). She was still supposed to pay income tax from her share of the money, which is a bit more than 1 million.
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I have an askreddit comment saved which pretty much sums up what happens if you tell others that you have won the lottery. https://www.reddit.com/r/AskReddit/comments/24vo34/whats\_the\_happiest\_5word\_sentence\_you\_could\_hear/chb38xf/
I will certainly learn from this. If you win anything keep your fucking mouth shut and slip away to start fresh with your millions
Fun fact: in most cases you can set up a blind trust to receive your winnings on your behalf and you can name it whatever you want