Couple wins the $266 million Mega Millions jackpot
 

http://j.imagehost.org/0244/JACKIWINNER.jpg

Link to article

The husband, who had recently lost his job, bought lottery tickets on a whim and won $266M. Then they went on tv to give an interview. BAD MOVE. :2 cents:

The lottery curse is strong on this one. I wonder how long it will take for their lives and those of their entire family to be destroyed.

statistically they'll be broke in a couple years :2 cents:

I think it's an average of 7 years. I know someone who won 12 million and went bankrupt almost to the day 7 years later. :Oh crap

they will separate within a month and be broke within 2 years

A study has shown that 95% of lottery winners lose everything within 3 years.

lucky. i wish i would win the lotto :thumbsup

I wouldn't. :2 cents:

They have the option of taking a one-time payout of $133M or receive annual payments over 25 years.

Hope they go for the 25 years.

Well I guess that means I lost 7 bucks.. :(

very nice:)

Online lotteries have become more popular lately:

Lottarewards.com

i just don't understand how anyone can burn that much money that fast. first fucking thing i'd do is start looking into a bunch of different stable guaranteed investment options. i mean, i don't think i could even go spend crazy as fuck and manage to waste $133 million in 7 years. what the hell are these people doing?

thats a nice pile of cassh :)

When you win the lottery, everyone wants a piece of it. Immediate and extended family, friends, friends you haven't seen in years, 'distant cousins', charities, investors, people with business ideas and random wackos phone and knock on your door every single day looking for their share.

It's not this bad if you stay anonymous of course, but this couple who went on TV is gonna get the full treatment. :Oh crap

cheap lesson:1orglaugh:thumbsup

give to me, i know what to do

Ya, but I'm a expert when it comes to telling people to fuck off. and that's the first thing they'd all get, followed by an asskicking from my newly hired security if they didn't leave my fucking property...

Seriously, how god damned stupid are people? "Oh hey cousin i never heard of, here's a million dollars, enjoy..." GTFO...

I'd waste my millions burning stacks of cash in front of starving children before I'd let that shit get me. Trust me, if I was that rich, people would fucking hate me bad... :1orglaugh

i dont play the lotto but if i did and ever won i would invest that money to ensure i was set up and not bankrupt in 5 or 7 years....i dont even think i would touch that money for the first year until i had it making more money for me :2 cents:

Hookers and blow?

Anyone know any stats on whether winners typically chose a (reduced) lump sum, or yearly payments totalling the full amount? I bet the majority would choose the former. :2 cents:

I would choose the 25 year option, go crazy on the first year's payment (have fun blowing $10m), then in the second start seriously investing... after a year or two of further payments you could comfortably live off the interest alone.

Are yearly payments guaranteed? What happens if the company folds?

lottery curse?... I'll take my chances!

I was half listening to their TV interview and the guy said he was on his way home and his wife called and said she wanted one of those KCF sandwiches that's cheese and bacon between two slabs of chicken and he said fuck that and she said get your own dinner then. He decided on Mexican and bought his winning tickets while waiting for his tacos. :upsidedow

is it possible to "secretly" win the lottery, claim it very quietly, not go on tv, no news interviews? I wouldnt want anyone to know except those that i choose.

Money, money and money

I think I'd go for the payment over 25 years just to make sure I didn't piss it away. I'm sure though if you took the lump sum and could control your spending and invested it right, you could really earn more than what you'd get over 25 years.

All their friends will want a piece of it, I think. "Comon, give me $1,000," they will say!

That rocks!

Mr. Romance

I'm still fucking baffled by how anyone can literally blow off $100mil+ in even 10 years.

I could buy my ultimate dream plot of land, build my dream home, buy my dream car, truck, snowmobile, boat, lake property, quad, motorbike, fill my properties with all the shit I could ever dream of, and still probably only have spent like $10mil, going absolutely fucking ballistic.

What the hell do these idiots spend their money on? I'd love to see some detailed outlinings of the spending these people do to lose these huge fortunes they've won. Would make for a great book if a writer were to track down a handful of $100mil+ lotto winners who lost it all, and to tell their stories from fortune to rockbottoom again.

THAT is the way to do it. That should be the ONLY way winnings are paid.


.

congrats to the winners!

in PA they are paying securities not cash. its fucked up, but the state is all but broke and trying to get their hands in everything.

hands down I would take the 133mm over 266mm/25 years. if they lottery files for bankruptcy then you are screwed.

IMO, most people would take the money and just spend spend spend. i've watched friends come into some smaller amounts of money and burn through what could last most people 3 years in 3 months.

if you have half a brain, you will take those funds and invest it. mortgage companies are a big one and you get around a 3.5% return... which equates to about 75% ROI. take the $133mm, pay off all your bills, go on a vacation, hire a lawyer and financial adviser and go on with your life and no reason why this money would not last for your great grand kids :2 cents:

There was at least one TV show that profiled a handful of lotto winners showing how they went from rags to riches to rags again. There may have even been a series about it.

My guess is the upkeep and maintenance of all their purchases plus bad investments eats away their fortune. You said you could buy all that for $10 mil but the cost doesn't stop at the purchase. You will continue to pay property taxes, insurance, maintenance and so on.

Go out and buy a nice yacht for $4 mil and spend close to $1 mil a year on keeping it :)

Now let's see how stupid or not they are.

That why you don't be stupid and take the money all at one you take it over time. Unless you're old then of course take all at once. $226 mil over 26 years AFTER federal income tax is paid is $6.65 mil a year. Now who can't live on that? I could easy. That why if I somehow blew all $6.65 mil in 6 months it's only 6 months until another check arrives.

take it over 25 or a lump sum, either way, I would more than likely *only* spend the interest :1orglaugh

Because accidents never happen and people live forever. I would take the lump sum so my family doesn't get fucked if I happen to die before the payments are done.

If you die the payments go to your estate dummy.

Most of the people going broke take the 25 year payments but then they borrow against it. Stupid fuckers :)

I guess that's where I differ from your average moron then, because even with $100mil in the bank, you wouldn't catch me spending $4mil on a fucking yacht...

No shit most of the time it would sit docked. I'd just go rent one whenever I needed it.

Most people who win the lottery have no money sense. They've often never dealt with large amounts of money and have no education on managing it.

congrats to them :)

i would take the money up front because you never know how many days or years you have ahead of you (but i wouldnt spend it all, that's crazy). more importantly, i would take it up front because here in Cali, our government has already borrowed against it's entire share and then some of the compiled winnings. they are in the negative for payback as of right now. the money may not be there to payout over the 25 years (and they wont give a fuck).

I read an article a few years back of a family on the verge of bankruptcy a few years after winning a dream home. The upkeep on the property, utilities, etc. was more than they could afford.

Cool people, I am sure they will spend there money smart invest in Compton and watts

they are very lucky !

There is no guarantee you get all the money if you do it over 25 years.

They invest the money and if they lose, you lose.

50% of that 133M goes to taxes. They are left with $66M.

Still, $66M is good for the rest of their entire lives.

It won't take them very long to loose everything. They are stupid. You don't go on TV as a lottery winner.

I would take the payout, their is no fucking way i would trust ANYONE with that amount of cash but myself. hell i would barely trust that amount sitting in a savings account. but i would spread it out under multiple accounts just incase a certain bank goes by by or the govt comes in and tries to lock up the money with some future law.

25 years is way to long for to much shit to go wrong. i dont trust people with $100 let alone 122million. fuck that.