Really doesn't suprise me.
Assume they win $10M. Cut it down to 60% for lump sum (could be wrong) payment, then factor in about half in taxes, that leaves you with $3M after winning $10M. They spend as if they really had $10M. Most people who win the lottery have very little knowledge about money management. If athletes, can go broke with continual income and with advisors, not suprising that these people go broke.
Assume they win $10M. Cut it down to 60% for lump sum (could be wrong) payment, then factor in about half in taxes, that leaves you with $3M after winning $10M. They spend as if they really had $10M. Most people who win the lottery have very little knowledge about money management. If athletes, can go broke with continual income and with advisors, not suprising that these people go broke.
I have a cousin who won 12.5 million in april of 2001. She is almost broke as well.
Quick view of her life after the winnings.
Bought a brand new Hummer, firebird for her son, then a 10 acre farm, plus gave him 1 million dollars.
Bought her daughter a 7 bedroom home with indoor pool and a new Caddilac, plus gave her 1 million dollars.
She bought a new caddilac, 4 brand new houses, 1 in Smith Falls, 1 in Port Perry, 1 in Cesarea, 1 in Oshawa. Bought a new RV, and bought a restaurant.
She gambles almost everyday playing scratch tickets, lotteries and even get this, sports betting, lmao. She is almost 65 years old for christ sakes.
She went on a cruise ship and was up near Alaska somewhere and she suffered a heart attac k, she never has insurance and it cost her thousands of dollars.
She then went on a trip to Florida with her RV and booked a room , roflmao, at a high posh hotel, she also rented a truck to get around with her and her sister so that way they didnt have to drive the RV around. The day they were leaving, the sister was driving the truck and accidently floored the truck and hit the RV, my cousin became frightened and floored the RV and hit a light standard that then struck 2 cars, lmao.
Her son has since wrecked both vehicles, both are in the scrap yard. His house because of all the parting going on is a fucking right off. The daughter has turned into a cocaine junkie and lets her teenage kids have will dparties while she is drugged out of her skull in bed.
This was a decent family before the money. Now its a nightmare. She said that she has around $400,000 left. She still owns all her properties, but still, what a waste of fucking money.
* forgot to mention, she ost her restaurant, it burnt down (how convienient). She would not pay for her fathers funeral. She would not lend her niece $8,000 , but her niece let her live with her for 1 1/2 years free of rent because her and her husband kept fighting. What a joke.
Quick view of her life after the winnings.
Bought a brand new Hummer, firebird for her son, then a 10 acre farm, plus gave him 1 million dollars.
Bought her daughter a 7 bedroom home with indoor pool and a new Caddilac, plus gave her 1 million dollars.
She bought a new caddilac, 4 brand new houses, 1 in Smith Falls, 1 in Port Perry, 1 in Cesarea, 1 in Oshawa. Bought a new RV, and bought a restaurant.
She gambles almost everyday playing scratch tickets, lotteries and even get this, sports betting, lmao. She is almost 65 years old for christ sakes.
She went on a cruise ship and was up near Alaska somewhere and she suffered a heart attac k, she never has insurance and it cost her thousands of dollars.
She then went on a trip to Florida with her RV and booked a room , roflmao, at a high posh hotel, she also rented a truck to get around with her and her sister so that way they didnt have to drive the RV around. The day they were leaving, the sister was driving the truck and accidently floored the truck and hit the RV, my cousin became frightened and floored the RV and hit a light standard that then struck 2 cars, lmao.
Her son has since wrecked both vehicles, both are in the scrap yard. His house because of all the parting going on is a fucking right off. The daughter has turned into a cocaine junkie and lets her teenage kids have will dparties while she is drugged out of her skull in bed.
This was a decent family before the money. Now its a nightmare. She said that she has around $400,000 left. She still owns all her properties, but still, what a waste of fucking money.
* forgot to mention, she ost her restaurant, it burnt down (how convienient). She would not pay for her fathers funeral. She would not lend her niece $8,000 , but her niece let her live with her for 1 1/2 years free of rent because her and her husband kept fighting. What a joke.
Forgot to mention, 2 years ago the son was was having a fight with his girlfriend (they have 5 kids together) and the nieghbours called the cops. Well it was so funny, because my oldest brother is a cop and got dispatched to his house to arrest him for assault and battery. He tells me that steven (our cousins name) says its ok, I will get off, my moms a millionaire, roflmao. What a fucking retard.
How do you become a welfare bum?
