Lottery winners etc losing a fortune
Discussion
You hear about people who win the lottery then blow the millions over a few months or years and are back to the grind eg https://www.ladbible.com/news/uk-news/michael-carr...
Do you know anyone who has done this? Do they regret it and wish they'd put away a million or two to be sensible with even though they had a lot of fun with the rest?
Do you know anyone who has done this? Do they regret it and wish they'd put away a million or two to be sensible with even though they had a lot of fun with the rest?
I know of two brothers that made a fortune years ago , just got lucky right place right time and sold up , bought brand new jags and parked them outside their council houses that they also bought .
Unfortunately they were gullible and they gained a lot of new friends that had business opportunities but needed investment , you can guess the rest .
Unfortunately they were gullible and they gained a lot of new friends that had business opportunities but needed investment , you can guess the rest .
John McGuinness is the one that springs to mind near me. Won £10m in 1997 and was declared bankrupt 10 years later having lost most of it investing in football as well as the inevitable Ferraris, designer clothes and divorce.
I'm sure it was a fun decade but no idea what he is doing now
I'm sure it was a fun decade but no idea what he is doing now
Not the lottery but a families wealth being pissed up the wall
My wife’s uncle did very very well in an industry in the 80s, massive houses with lifts pools, out buildings all very impressive and earnt with jolly hard work
The four daughters all went to private school and then uni
All shacked up with losers, dad buys each a very nice house cars continual bailouts
All houses have been sold up and they are all in a continuous cycle of living in iffy rented accommodation they can’t afford or moving in and out with mum (who has pissed her half of the millions up the wall after a divorce)
Really frustrating to see as they were all set for life
Still all think they are something special and look down their noses at you
My wife’s uncle did very very well in an industry in the 80s, massive houses with lifts pools, out buildings all very impressive and earnt with jolly hard work
The four daughters all went to private school and then uni
All shacked up with losers, dad buys each a very nice house cars continual bailouts
All houses have been sold up and they are all in a continuous cycle of living in iffy rented accommodation they can’t afford or moving in and out with mum (who has pissed her half of the millions up the wall after a divorce)
Really frustrating to see as they were all set for life
Still all think they are something special and look down their noses at you
Not the same but I've known several business owners (all through work, none personally other than one who became a friend) who passed up opportunities to sell their businesses for between £8m and £30m only for them to go bust a few years later. That must smart, as one of them told me, "off ramps don't come along often, when one does grab it with both hands".
I wonder what the ratio of lotto winners keep the money compared to just blasting it!
I’d like to say I would be ok I am pretty cautious anyway but you never know suddenly having many millions could easily make you do silly things. I suppose lots of people win the lottery all the time and you only ever hear about a few after.
I’d like to say I would be ok I am pretty cautious anyway but you never know suddenly having many millions could easily make you do silly things. I suppose lots of people win the lottery all the time and you only ever hear about a few after.
I know a girl who won 100k. Lasted 3 months. She had a shopping trip to primark, a bit fat and lots of loosing scratch cards to show for it.
Best bit was she went back to sign on to get her benefits back. They refused. Ended up working amazon night shift to survive. Funny because she'd never had a job before that. Amazing what having no money does.
6 years later now and she's glad. Still works, has her own car the lot. Says if that never happened she wouldn't have known what life was like with money and lived a wasted life like her mum. Silver lining n that.
Best bit was she went back to sign on to get her benefits back. They refused. Ended up working amazon night shift to survive. Funny because she'd never had a job before that. Amazing what having no money does.
6 years later now and she's glad. Still works, has her own car the lot. Says if that never happened she wouldn't have known what life was like with money and lived a wasted life like her mum. Silver lining n that.
A lad round here won £860k late teens/ early 20s so not enough to live forever and not work but enough to be comfortable forever if one is sensible. He won it on a scratchcard.A year later I saw him in the place he won buying more. The shop keeper said he did £200/£400 a week on scratch cards everyweek. He had won the lottery but was spending his win as he thought he would do it again. What a moron.
When I was a lad, a neighbour supposedly won the football pools. (the lottery hadn't been invented in those days). We lived in an OK area with semi detached houses. The Pools winner bought a new Lotus Carlton, parked it on his newly laid drive. Had a small extension built onto the house. No idea what happened to him. He may well have moved away to a larger house at some stage.
A mate of mine won c£110K on the lottery about 20 years ago. He rented from the council but could buy the house cheaply under right to buy. He said he would but didn’t. He just gambled, drank and generally frittered the money until it was gone.
He’s still paying rent in the same house.
He’s still paying rent in the same house.
I've known a lot of people who are hard wired to never retain any money, no matter how much they have.
It's almost like a form of blindness. They don't seem capable of conceiving that they're frittering everything away while it's happening.
Lottery playing does not go hand in hand with financial literacy so it's unsurprising that so many blow it.
It's almost like a form of blindness. They don't seem capable of conceiving that they're frittering everything away while it's happening.
Lottery playing does not go hand in hand with financial literacy so it's unsurprising that so many blow it.
Depressing stories. Was wondering if the people who won/made it had good memories even if they ended up living a broke life. I'd probably be too sensible/mostly boring if I won a few million just so I didn't have to work for someone else for the rest of my life.
hotchy said:
I know a girl who won 100k. Lasted 3 months. She had a shopping trip to primark, a bit fat and lots of loosing scratch cards to show for it.
Best bit was she went back to sign on to get her benefits back. They refused. Ended up working amazon night shift to survive. Funny because she'd never had a job before that. Amazing what having no money does.
6 years later now and she's glad. Still works, has her own car the lot. Says if that never happened she wouldn't have known what life was like with money and lived a wasted life like her mum. Silver lining n that.
That is kind of a positive story!Best bit was she went back to sign on to get her benefits back. They refused. Ended up working amazon night shift to survive. Funny because she'd never had a job before that. Amazing what having no money does.
6 years later now and she's glad. Still works, has her own car the lot. Says if that never happened she wouldn't have known what life was like with money and lived a wasted life like her mum. Silver lining n that.
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