JENNR8R 0 #1 June 14, 2006 I work for a financial advisory firm. One of our clients won the lottery 17 years ago. They get $400,000.00 per year for 20 years. Only three years left before the money stops coming in. So what do they have after $6,800,000.00? A house that will be paid for the year that the money stops coming. That's it... Every year they have borrowed on the next year's allotment. They were school teachers before winning. They haven't worked in 17 years. I have another client who had $12,000,000.00 at one point from the sale of a business. She is down to $2,000,000.00. She lives with a line of credit because it isn't enough. Question: How much money is enough? Answer: Just a little bit more. I worry about these people... What do you call a beautiful, sunny day that comes after two cloudy, rainy ones? -- Monday. Quote Share this post Link to post Share on other sites
stitch 0 #2 June 14, 2006 I think some embezzeling is in order."No cookies for you"- GFD "I don't think I like the sound of that" ~ MB65 Don't be a "Racer Hater" Quote Share this post Link to post Share on other sites
JENNR8R 0 #3 June 14, 2006 QuoteI think some embezzeling is in order. Can't get water from a dry well.What do you call a beautiful, sunny day that comes after two cloudy, rainy ones? -- Monday. Quote Share this post Link to post Share on other sites
skydemon2 0 #4 June 14, 2006 If I had 1 million after taxes I would never have to worry about money again.Beauty is only skin deep, but ugly goes clean to the bone! I like to start my day off with a little Ray of Soulshine™!! Quote Share this post Link to post Share on other sites
stitch 0 #5 June 14, 2006 Oh wellI'm a material boy, and its a material world."No cookies for you"- GFD "I don't think I like the sound of that" ~ MB65 Don't be a "Racer Hater" Quote Share this post Link to post Share on other sites
AggieDave 6 #6 June 14, 2006 QuoteThey get $400,000.00 per year for 20 years. Man oh man, even just investing $50k of that a year for that 20 years could set you up to be comfortable (very comfortable) for life. That'd also set my wife and I up very well to have a trailer and a truck to travel all around the country going from DZ to DZ...or to pick a DZ to live at for a month. Oh well, it would be nice, but I guess you have to actually start playing the lotto to win the lotto. Since I don't play I guess I'll never win. Atleast we have a great life without all that money.--"When I die, may I be surrounded by scattered chrome and burning gasoline." Quote Share this post Link to post Share on other sites
JENNR8R 0 #7 June 14, 2006 At least we have a great life without all that money. Quote I think you have a great life because you don't have all of that money. We have a lot of clients who have high incomes. They aren't necessarily the happiest people in the world. Money just causes more problems.What do you call a beautiful, sunny day that comes after two cloudy, rainy ones? -- Monday. Quote Share this post Link to post Share on other sites Brian425 0 #8 June 14, 2006 Didn't your firm have a fiduciary responsibility to warn these people about there spending habits and work to secure their future. Depending on the relationship with the client, I think your firm let them down to some degree. I know that some clients will do what they want when they want; but, it is your duty to warn them of the consequences of their actions. It's a shame; but, that is the life they chose. They had nothing before and now they have a house. So back to work they go. The only time you should look down on someone is when you are offering them your hand. Quote Share this post Link to post Share on other sites JENNR8R 0 #9 June 14, 2006 Yep, our firm does tell them what would be wise to do with their money. But, we can't force our clients to take our advice. It's the old, you can lead a horse to water, but you can't make him drink scenario.What do you call a beautiful, sunny day that comes after two cloudy, rainy ones? -- Monday. Quote Share this post Link to post Share on other sites popsjumper 2 #10 June 14, 2006 Money can't buy happiness???? hah...try me...just one time, try me. Hey, Jenn...ask them if they want to adopt a son...I don't eat much and I make my bed every morning!My reality and yours are quite different. I think we're all Bozos on this bus. Falcon5232, SCS8170, SCSA353, POPS9398, DS239 Quote Share this post Link to post Share on other sites DaGimp 0 #11 June 14, 2006 Quote Hey, Jenn...ask them if they want to adopt a son...I don't eat much and I make my bed every morning! and hes ALMOST toliet trained"Professor of Pimpology"~~~Bolas Quote Share this post Link to post Share on other sites popsjumper 2 #12 June 14, 2006 ...still working on paper...toilet comes later... My reality and yours are quite different. I think we're all Bozos on this bus. Falcon5232, SCS8170, SCSA353, POPS9398, DS239 Quote Share this post Link to post Share on other sites JENNR8R 0 #13 June 14, 2006 Well, they certainly wouldn't spend any money on you. They are too busy spending more money than they have on themselves. I've paid the bills for the $12,000,000.00 woman for over ten years. I've probably written two checks to charity. I remember $100 to a zoo once, but she has no trouble spending $50,000.00 for knobs on her bathroom cabinets, or $75,000.00 for the initial design of her roof garden...What do you call a beautiful, sunny day that comes after two cloudy, rainy ones? -- Monday. Quote Share this post Link to post Share on other sites popsjumper 2 #14 June 14, 2006 QuoteWell, they certainly wouldn't spend any money on you. They are too busy spending more money than they have on themselves. In that case, I like the embezzlement idea....so let me get a jump-start on this....Jenn, will you marry me? My reality and yours are quite different. I think we're all Bozos on this bus. Falcon5232, SCS8170, SCSA353, POPS9398, DS239 Quote Share this post Link to post Share on other sites Broke 0 #15 June 14, 2006 Money can't buy happieness, but it can buy a blow job. Blow Jobs = happieness.Divot your source for all things Hillbilly. Anvil Brother 84 SCR 14192 Quote Share this post Link to post Share on other sites JENNR8R 0 #16 June 14, 2006 In that case, I like the embezzlement idea Quote All you'd be able to embezzle from them would be bills that you couldn't pay. ***....so let me get a jump-start on this....Jenn, will you marry me? Quote No... I have enough money for me, but I have a feeling I that I wouldn't if I were married to you... What do you call a beautiful, sunny day that comes after two cloudy, rainy ones? -- Monday. Quote Share this post Link to post Share on other sites popsjumper 2 #17 June 14, 2006 Probably not but it was worth a shot....WTH. I figured my chances were at least as good as winning the lottery.My reality and yours are quite different. I think we're all Bozos on this bus. Falcon5232, SCS8170, SCSA353, POPS9398, DS239 Quote Share this post Link to post Share on other sites wlie 0 #18 June 14, 2006 QuoteThey were school teachers before winning. This is sad.My other ride is the relative wind. Quote Share this post Link to post Share on other sites StreetScooby 5 #19 June 14, 2006 Quote Man oh man, even just investing $50k of that a year for that 20 years could set you up to be comfortable (very comfortable) for life. Yep. I've heard Lotto winners end up with some wierd sickness where by they go broke. Guess it's true. $400K for 20 years? I would have kept my job for 5 years, then never worked another day in my life. Then, my kids would be set, also. Everyone would own homes nearby, and life would be good. I've always wanted to make 1000 jumps in a year :)We are all engines of karma Quote Share this post Link to post Share on other sites squirrel 0 #20 June 14, 2006 I like to listen to Dave Ramsey on XM, basically its a finacial advice show for the stupid, which is ALOT of people. some interesting number I heard yesterday. 65% of lottery winners go bankrupt. The divorce rate of lottery winners in 4 times the national average. The point is, if they did not know how to handle $ before, they will not know after winning the lottery. boy, 400,000 a year. working a high dollar contract for 2 years, about 10k a month, my wife and i were able to buy five houses, and are quickly paying them off now, thanks to renters. but, we live simple...dont go to malls, and drive used cars. Skydiving is our only habit. i have no mercy for finacial idiots...in fact, i will be happy to grab thier home in foreclosure and rent it back to them. guess i am lucky having grown up with depression era parents...save save save for a rainy day. ________________________________ Where is Darwin when you need him? Quote Share this post Link to post Share on other sites PrairieDoug 0 #21 June 14, 2006 Jenn -- From what I've heard, the situation you describe is pretty common. Lottery winners are usually people who don't have experience managing significant amounts of money. After the initial euphoria goes away, the problems of instant wealth can be daunting. Case in point: A friend of mine who is a recovering alcoholic won a $100,000 scratch-off game last September. The first thing I told him was "This will either be a blessing or a curse -- you decide." He relapsed and blew the whole payday on drugs, hookers, and horses. Of course, I'm sure I could handle it the right way. Doug Quote Share this post Link to post Share on other sites SpeedRacer 1 #22 June 14, 2006 I've heard all kinds of stories about lottery winners, not sure how accurate they are. The statistics for how many of them go broke are all over the map: some say 1/3 go bankrupt, some say over half, whatever. one of the problems with winning the lottery is that EVERYONE knows you won! so everyone's got his hand out. There's this book called The Pearl by Steinbeck. This poor peasant guy finds a giant pearl & his life becomes a living hell after he tells everyone in the village about it. Speed Racer -------------------------------------------------- Quote Share this post Link to post Share on other sites twibbles 0 #23 June 14, 2006 QuoteThere's this book called The Pearl by Steinbeck. This poor peasant guy finds a giant pearl & his life becomes a living hell after he tells everyone in the village about it. I've read that book, studied it in literature class in school. Greed takes over him and everyone around him, and his life falls apart. Eugene "In the beginning the Universe was created. This has made a lot of people very angry and been widely regarded as a bad move." Quote Share this post Link to post Share on other sites Stevehend15 0 #24 June 14, 2006 If they are going o blow their cash then maybe you should get paid. Make trades all day every day. Unethical? YES! Fun? YES YES! Quote Share this post Link to post Share on other sites skydiver51 0 #25 June 14, 2006 No one has to know you won. The Lottery will not publish who won if you tell them not to. If I came into that kind of money I would nevr wind up broke. I can't even imagine how to spend all that money. Yes I know you could lease a lear jet every day and fly to New York for breakfest and L.A. for supper but that kind of shit isn't for me. I have no sorrow for people who come into millions fo dollars and wind up broke in a few years. Quote Share this post Link to post Share on other sites Prev 1 2 Next Page 1 of 2 Join the conversation You can post now and register later. If you have an account, sign in now to post with your account. Note: Your post will require moderator approval before it will be visible. Reply to this topic... × Pasted as rich text. Paste as plain text instead Only 75 emoji are allowed. × Your link has been automatically embedded. Display as a link instead × Your previous content has been restored. Clear editor × You cannot paste images directly. Upload or insert images from URL. Insert image from URL × Desktop Tablet Phone Submit Reply 0 Go To Topic Listing
Brian425 0 #8 June 14, 2006 Didn't your firm have a fiduciary responsibility to warn these people about there spending habits and work to secure their future. Depending on the relationship with the client, I think your firm let them down to some degree. I know that some clients will do what they want when they want; but, it is your duty to warn them of the consequences of their actions. It's a shame; but, that is the life they chose. They had nothing before and now they have a house. So back to work they go. The only time you should look down on someone is when you are offering them your hand. Quote Share this post Link to post Share on other sites
JENNR8R 0 #9 June 14, 2006 Yep, our firm does tell them what would be wise to do with their money. But, we can't force our clients to take our advice. It's the old, you can lead a horse to water, but you can't make him drink scenario.What do you call a beautiful, sunny day that comes after two cloudy, rainy ones? -- Monday. Quote Share this post Link to post Share on other sites
popsjumper 2 #10 June 14, 2006 Money can't buy happiness???? hah...try me...just one time, try me. Hey, Jenn...ask them if they want to adopt a son...I don't eat much and I make my bed every morning!My reality and yours are quite different. I think we're all Bozos on this bus. Falcon5232, SCS8170, SCSA353, POPS9398, DS239 Quote Share this post Link to post Share on other sites
DaGimp 0 #11 June 14, 2006 Quote Hey, Jenn...ask them if they want to adopt a son...I don't eat much and I make my bed every morning! and hes ALMOST toliet trained"Professor of Pimpology"~~~Bolas Quote Share this post Link to post Share on other sites
popsjumper 2 #12 June 14, 2006 ...still working on paper...toilet comes later... My reality and yours are quite different. I think we're all Bozos on this bus. Falcon5232, SCS8170, SCSA353, POPS9398, DS239 Quote Share this post Link to post Share on other sites
JENNR8R 0 #13 June 14, 2006 Well, they certainly wouldn't spend any money on you. They are too busy spending more money than they have on themselves. I've paid the bills for the $12,000,000.00 woman for over ten years. I've probably written two checks to charity. I remember $100 to a zoo once, but she has no trouble spending $50,000.00 for knobs on her bathroom cabinets, or $75,000.00 for the initial design of her roof garden...What do you call a beautiful, sunny day that comes after two cloudy, rainy ones? -- Monday. Quote Share this post Link to post Share on other sites
popsjumper 2 #14 June 14, 2006 QuoteWell, they certainly wouldn't spend any money on you. They are too busy spending more money than they have on themselves. In that case, I like the embezzlement idea....so let me get a jump-start on this....Jenn, will you marry me? My reality and yours are quite different. I think we're all Bozos on this bus. Falcon5232, SCS8170, SCSA353, POPS9398, DS239 Quote Share this post Link to post Share on other sites
Broke 0 #15 June 14, 2006 Money can't buy happieness, but it can buy a blow job. Blow Jobs = happieness.Divot your source for all things Hillbilly. Anvil Brother 84 SCR 14192 Quote Share this post Link to post Share on other sites
JENNR8R 0 #16 June 14, 2006 In that case, I like the embezzlement idea Quote All you'd be able to embezzle from them would be bills that you couldn't pay. ***....so let me get a jump-start on this....Jenn, will you marry me? Quote No... I have enough money for me, but I have a feeling I that I wouldn't if I were married to you... What do you call a beautiful, sunny day that comes after two cloudy, rainy ones? -- Monday. Quote Share this post Link to post Share on other sites popsjumper 2 #17 June 14, 2006 Probably not but it was worth a shot....WTH. I figured my chances were at least as good as winning the lottery.My reality and yours are quite different. I think we're all Bozos on this bus. Falcon5232, SCS8170, SCSA353, POPS9398, DS239 Quote Share this post Link to post Share on other sites wlie 0 #18 June 14, 2006 QuoteThey were school teachers before winning. This is sad.My other ride is the relative wind. Quote Share this post Link to post Share on other sites StreetScooby 5 #19 June 14, 2006 Quote Man oh man, even just investing $50k of that a year for that 20 years could set you up to be comfortable (very comfortable) for life. Yep. I've heard Lotto winners end up with some wierd sickness where by they go broke. Guess it's true. $400K for 20 years? I would have kept my job for 5 years, then never worked another day in my life. Then, my kids would be set, also. Everyone would own homes nearby, and life would be good. I've always wanted to make 1000 jumps in a year :)We are all engines of karma Quote Share this post Link to post Share on other sites squirrel 0 #20 June 14, 2006 I like to listen to Dave Ramsey on XM, basically its a finacial advice show for the stupid, which is ALOT of people. some interesting number I heard yesterday. 65% of lottery winners go bankrupt. The divorce rate of lottery winners in 4 times the national average. The point is, if they did not know how to handle $ before, they will not know after winning the lottery. boy, 400,000 a year. working a high dollar contract for 2 years, about 10k a month, my wife and i were able to buy five houses, and are quickly paying them off now, thanks to renters. but, we live simple...dont go to malls, and drive used cars. Skydiving is our only habit. i have no mercy for finacial idiots...in fact, i will be happy to grab thier home in foreclosure and rent it back to them. guess i am lucky having grown up with depression era parents...save save save for a rainy day. ________________________________ Where is Darwin when you need him? Quote Share this post Link to post Share on other sites PrairieDoug 0 #21 June 14, 2006 Jenn -- From what I've heard, the situation you describe is pretty common. Lottery winners are usually people who don't have experience managing significant amounts of money. After the initial euphoria goes away, the problems of instant wealth can be daunting. Case in point: A friend of mine who is a recovering alcoholic won a $100,000 scratch-off game last September. The first thing I told him was "This will either be a blessing or a curse -- you decide." He relapsed and blew the whole payday on drugs, hookers, and horses. Of course, I'm sure I could handle it the right way. Doug Quote Share this post Link to post Share on other sites SpeedRacer 1 #22 June 14, 2006 I've heard all kinds of stories about lottery winners, not sure how accurate they are. The statistics for how many of them go broke are all over the map: some say 1/3 go bankrupt, some say over half, whatever. one of the problems with winning the lottery is that EVERYONE knows you won! so everyone's got his hand out. There's this book called The Pearl by Steinbeck. This poor peasant guy finds a giant pearl & his life becomes a living hell after he tells everyone in the village about it. Speed Racer -------------------------------------------------- Quote Share this post Link to post Share on other sites twibbles 0 #23 June 14, 2006 QuoteThere's this book called The Pearl by Steinbeck. This poor peasant guy finds a giant pearl & his life becomes a living hell after he tells everyone in the village about it. I've read that book, studied it in literature class in school. Greed takes over him and everyone around him, and his life falls apart. Eugene "In the beginning the Universe was created. This has made a lot of people very angry and been widely regarded as a bad move." Quote Share this post Link to post Share on other sites Stevehend15 0 #24 June 14, 2006 If they are going o blow their cash then maybe you should get paid. Make trades all day every day. Unethical? YES! Fun? YES YES! Quote Share this post Link to post Share on other sites skydiver51 0 #25 June 14, 2006 No one has to know you won. The Lottery will not publish who won if you tell them not to. If I came into that kind of money I would nevr wind up broke. I can't even imagine how to spend all that money. Yes I know you could lease a lear jet every day and fly to New York for breakfest and L.A. for supper but that kind of shit isn't for me. I have no sorrow for people who come into millions fo dollars and wind up broke in a few years. Quote Share this post Link to post Share on other sites Prev 1 2 Next Page 1 of 2 Join the conversation You can post now and register later. If you have an account, sign in now to post with your account. Note: Your post will require moderator approval before it will be visible. Reply to this topic... × Pasted as rich text. Paste as plain text instead Only 75 emoji are allowed. × Your link has been automatically embedded. Display as a link instead × Your previous content has been restored. Clear editor × You cannot paste images directly. Upload or insert images from URL. Insert image from URL × Desktop Tablet Phone Submit Reply 0
popsjumper 2 #17 June 14, 2006 Probably not but it was worth a shot....WTH. I figured my chances were at least as good as winning the lottery.My reality and yours are quite different. I think we're all Bozos on this bus. Falcon5232, SCS8170, SCSA353, POPS9398, DS239 Quote Share this post Link to post Share on other sites
wlie 0 #18 June 14, 2006 QuoteThey were school teachers before winning. This is sad.My other ride is the relative wind. Quote Share this post Link to post Share on other sites
StreetScooby 5 #19 June 14, 2006 Quote Man oh man, even just investing $50k of that a year for that 20 years could set you up to be comfortable (very comfortable) for life. Yep. I've heard Lotto winners end up with some wierd sickness where by they go broke. Guess it's true. $400K for 20 years? I would have kept my job for 5 years, then never worked another day in my life. Then, my kids would be set, also. Everyone would own homes nearby, and life would be good. I've always wanted to make 1000 jumps in a year :)We are all engines of karma Quote Share this post Link to post Share on other sites
squirrel 0 #20 June 14, 2006 I like to listen to Dave Ramsey on XM, basically its a finacial advice show for the stupid, which is ALOT of people. some interesting number I heard yesterday. 65% of lottery winners go bankrupt. The divorce rate of lottery winners in 4 times the national average. The point is, if they did not know how to handle $ before, they will not know after winning the lottery. boy, 400,000 a year. working a high dollar contract for 2 years, about 10k a month, my wife and i were able to buy five houses, and are quickly paying them off now, thanks to renters. but, we live simple...dont go to malls, and drive used cars. Skydiving is our only habit. i have no mercy for finacial idiots...in fact, i will be happy to grab thier home in foreclosure and rent it back to them. guess i am lucky having grown up with depression era parents...save save save for a rainy day. ________________________________ Where is Darwin when you need him? Quote Share this post Link to post Share on other sites
PrairieDoug 0 #21 June 14, 2006 Jenn -- From what I've heard, the situation you describe is pretty common. Lottery winners are usually people who don't have experience managing significant amounts of money. After the initial euphoria goes away, the problems of instant wealth can be daunting. Case in point: A friend of mine who is a recovering alcoholic won a $100,000 scratch-off game last September. The first thing I told him was "This will either be a blessing or a curse -- you decide." He relapsed and blew the whole payday on drugs, hookers, and horses. Of course, I'm sure I could handle it the right way. Doug Quote Share this post Link to post Share on other sites
SpeedRacer 1 #22 June 14, 2006 I've heard all kinds of stories about lottery winners, not sure how accurate they are. The statistics for how many of them go broke are all over the map: some say 1/3 go bankrupt, some say over half, whatever. one of the problems with winning the lottery is that EVERYONE knows you won! so everyone's got his hand out. There's this book called The Pearl by Steinbeck. This poor peasant guy finds a giant pearl & his life becomes a living hell after he tells everyone in the village about it. Speed Racer -------------------------------------------------- Quote Share this post Link to post Share on other sites
twibbles 0 #23 June 14, 2006 QuoteThere's this book called The Pearl by Steinbeck. This poor peasant guy finds a giant pearl & his life becomes a living hell after he tells everyone in the village about it. I've read that book, studied it in literature class in school. Greed takes over him and everyone around him, and his life falls apart. Eugene "In the beginning the Universe was created. This has made a lot of people very angry and been widely regarded as a bad move." Quote Share this post Link to post Share on other sites
Stevehend15 0 #24 June 14, 2006 If they are going o blow their cash then maybe you should get paid. Make trades all day every day. Unethical? YES! Fun? YES YES! Quote Share this post Link to post Share on other sites
skydiver51 0 #25 June 14, 2006 No one has to know you won. The Lottery will not publish who won if you tell them not to. If I came into that kind of money I would nevr wind up broke. I can't even imagine how to spend all that money. Yes I know you could lease a lear jet every day and fly to New York for breakfest and L.A. for supper but that kind of shit isn't for me. I have no sorrow for people who come into millions fo dollars and wind up broke in a few years. Quote Share this post Link to post Share on other sites
