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Packerowner740

(676 posts)

24. I saw a piece about him on a lotto millionaires

Reply to Liberal_in_LA (Original post)

Sat Dec 14, 2013, 11:28 PM

Dec 2013

He spent like a drunken sailor.

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27million lottery winner dies broke 12 yrs later after insane spending spree [View all] Liberal_in_LA Dec 2013 OP

The house I can understand but the rest of it ...there was no "how much....for THAT?!?!?" underpants Dec 2013 #1

race horses are also very expensive to keep Liberal_in_LA Dec 2013 #2

$27 million is nowhere near enough wealth to justify a private jet. Nye Bevan Dec 2013 #3

Had he followed his financial adviser's advice, I don't see why it wouldn't have been justifiable. ChisolmTrailDem Dec 2013 #5

companies own jets pipoman Dec 2013 #9

Well, I am certainly un-qualified to know, lol. Perhaps I won't get one after all =). n/t ChisolmTrailDem Dec 2013 #10

it is very expensive... awoke_in_2003 Dec 2013 #14

If I won $27 million I would definitely spring for the JetBlue "even more space" seats Nye Bevan Dec 2013 #18

either that or charter. nt awoke_in_2003 Dec 2013 #20

note to self - no jets (If i win the lottery) Liberal_in_LA Dec 2013 #19

a jet is something you charter TeamPooka Dec 2013 #43

He only had 27 million. After the jet he had 25 million. Maraya1969 Dec 2013 #30

The $27.1 million was what he won AFTER taxes. Jenoch Dec 2013 #38

No, he would NOT have been out 8 million after 5 years, Tanuki Dec 2013 #59

Yes but people do not understand that basic concept. I understand Maraya1969 Dec 2013 #86

with the $1.9 million that he spent on the jet hfojvt Dec 2013 #31

Nope. Landing fees will eat that right up. MissB Dec 2013 #44

If you HAD bought a private jet, then you would not have had pnwmom Dec 2013 #74

What a moron. nt greytdemocrat Dec 2013 #4

30,000 for a plasma TV? bluestateguy Dec 2013 #6

2001 price, probably got taken by the seller also Liberal_in_LA Dec 2013 #8

There's missing info in this posting lordsummerisle Dec 2013 #7

after winning the money, he went on big drug binge with wife, got hepatitis Liberal_in_LA Dec 2013 #12

The broke, penniless and living-in-a-storage-unit part probably did it jmowreader Dec 2013 #67

Hepatitis B or C? magical thyme Dec 2013 #69

do people not consider things like property tax, maintanence costs etc ? JI7 Dec 2013 #11

"Too bad someone didn't control his money for him" TheCowsCameHome Dec 2013 #13

yep, i'm sure he got taken Liberal_in_LA Dec 2013 #16

On the other hand....... A HERETIC I AM Dec 2013 #21

had spent a good part of his pre lottery life in prison, didnt get the chance to develop financia Liberal_in_LA Dec 2013 #23

But as the article indicates, he had an advisor that had his portfolio set up.... A HERETIC I AM Dec 2013 #25

It was all his choice... Decaffeinated Dec 2013 #36

Exactly. lumberjack_jeff Dec 2013 #63

He hired a financial advisor like everyone says to jmowreader Dec 2013 #68

The benefit of a financial advisor is only as good as . . . markpkessinger Dec 2013 #88

Everything I would want to buy wouldn't cost me more than $1 million. hobbit709 Dec 2013 #15

According to the Beatles, money can't buy me what I want Art_from_Ark Dec 2013 #56

It definitely lets you look in more places for it and helps you stay in it jmowreader Dec 2013 #70

Probably about $25k for me would do it. Kaleva Dec 2013 #83

27 million dollars is a very large amount of money, SheilaT Dec 2013 #17

from the pic, it looks like he had his house professionally decorated. that can get pricey Liberal_in_LA Dec 2013 #22

I could live incredibly well on $85,000 a year hfojvt Dec 2013 #32

He could have gotten that A MONTH XemaSab Dec 2013 #40

With a bit of frugal penny-pinching, I think I could probably get by on $85K/mo struggle4progress Dec 2013 #72

Coupons, yo XemaSab Dec 2013 #80

Yep! With smart use of coupons, I think I'd actually be able to get 3 million rolls of toilet paper struggle4progress Dec 2013 #82

I saw a piece about him on a lotto millionaires Packerowner740 Dec 2013 #24

Not surpring. Most people who win a substantial amount of money in the lottery end up worse off Chakab Dec 2013 #26

Is it really a majority? Mariana Dec 2013 #35

Do have a link to support your claim? Jenoch Dec 2013 #39

Here's a place to start with: CFLDem Dec 2013 #45

There were some anecdotal stories in your link, Jenoch Dec 2013 #46

Since when is science anecdotal? CFLDem Dec 2013 #47

You said 'most'. I never saw that word used in your links. Jenoch Dec 2013 #48

No I didn't. Chakab said most. CFLDem Dec 2013 #49

Do you have any links with information to support your claim? Jenoch Dec 2013 #50

It does have this: muriel_volestrangler Dec 2013 #66

On reading the research (link included) it appears that lottery winners do... yawnmaster Dec 2013 #55

Yeah that's pretty much the gist of it. CFLDem Dec 2013 #58

That's why I'd prefer 100 $1M winners than One $100M winner dickthegrouch Dec 2013 #71

How often do you buy lottery Jenoch Dec 2013 #73

Rarely dickthegrouch Dec 2013 #75

The odds are always so long that it doesn't Jenoch Dec 2013 #78

But it took the billh58 Dec 2013 #27

what an ugly ugly man. Schema Thing Dec 2013 #28

? I read a little more about him; he was a sometime drug addict but apparently was very El_Johns Dec 2013 #33

You can use basic mathematics when you win this type of money. Maraya1969 Dec 2013 #29

Apparently his math ohheckyeah Dec 2013 #37

OH lol. Well at least I have the idea right! Maraya1969 Dec 2013 #85

It looked like something I would do.... ohheckyeah Dec 2013 #87

$100 million makes you minimally rich; $1 Billion makes you actually rich. FarCenter Dec 2013 #34

ORLY? XemaSab Dec 2013 #41

Sure, but I'm not into private jets, multiple mansions, or plunging into tech startup investments FarCenter Dec 2013 #60

This is the funniest damn thing I've read on DU all year. Warren DeMontague Dec 2013 #53

It would have been slightly harder for Mr Edwards to blow through $1 billion, I suppose. n/t lumberjack_jeff Dec 2013 #62

I used to work closely with a state lottery in the area of public relations. Jenoch Dec 2013 #42

Maybe those who play the lottery already are self selecting exboyfil Dec 2013 #51

The 'lottery' doesn't need to use Jenoch Dec 2013 #52

. lumberjack_jeff Dec 2013 #64

My observation is that lottery ticket buying is proportionate to... JHB Dec 2013 #65

Well, he may have ended up in the storage bin 6 years earlier if he hadn't of won. eom yawnmaster Dec 2013 #54

The story originated in the Daily Mail. Providing fodder for looking down on others is what they do. Nine Dec 2013 #57

But it's insulting to the poor to suggest that some of them have counterproductive spending habits. lumberjack_jeff Dec 2013 #61

Out of all the things mentioned that he purchased, narnian60 Dec 2013 #76

lol d_b Dec 2013 #79

So what? Why not spend all the money? cthulu2016 Dec 2013 #77

But it was a fun ride for a while... ileus Dec 2013 #81

27-million-lottery-winner-lived-feces-died-broke-12-years-hitting-jackpot/ Number23 Dec 2013 #84

All across America people snort up bigger inheritances than that. LeftyMom Dec 2013 #89