You're on the right track, Adrian... he told me today the work I did to insure his privacy was worth a million dollars (had I known that, I would have charged a larger fee!)
We had a good discussion today on how having a lot of personal property (junk) can be more of a hinderance than anything after a while... it can really complicate your life.
(Can't interest him in a Porsche... he wants a BMW M3 they'll be coming out with next year with some kind of special shifter on the steering wheel.)
Other than that, he's given money to family members, is drafting plans for a house, and doing a bit of traveling. Will be real interesting to see over the years how or if he changes.
If people only knew, there'd be a lot of predators calling on him constantly so the best thing is to maintain a low profile. He's secure enough with himself that he doesn't need the constant ego boost that a lot of wealthy people crave.
regards,
jlex.

I love how people come on these boards and spew out ridiculous claims, like the 16 yr old kid who owns a 911...yeah right, what 16 yr old kid has money to buy a 911 ?

anyway, the sky is purple , go have a beer

Call me naive, but I believe the attny. For years I've thought that if my numbers ever came in, I'd place the ticket in a safe place, and my next stop would be in the office of a contract attny. who helped me with the sale of some commercial property. That, plus vaguely remember reading of a lottery winner whose attorney showed to collect...lottery officials must HATE that..

I have no doubt about the attorney story, and I'd be surprized if rich kids everywhere were NOT driving Porsches.

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'83 SC

Actually, I've read some articles on lottery winners, and about 10% of them do as jlex described. They seek an attorney or financial advisor before claiming the winnings, and take their time coming forward (most lotteries give you a year).

It looks like a regular bell curve distribution, from what I've read.

You get 10% that plan ahead and handle the money well. Most keep working for a while after (realizing the money isn't instantaneous, and preferring not to borrow against it). Then they make income-generating investments - franchises in restaurants, rental real estate, bond funds and such. The rich have a saying: "Never touch the principal." You spend what your money earns, not your money, and that way you never run out.

You get 80% that blow about half before they get things under control. Most financial advisors say that a rule of thumb they have for lottery clients is to write off the first year's winnings - people invariably blow it all, but its a good slap in the face at the end of the year when they notice they don't have a thing to show for it.

And you get 10% that blow the entire wad somehow. An ex-con in NY state won $500k and within a year he was bankrupt and living in a trailer park. He'd bought too much house, a couple of Caddies, and spent like a drunken sailor on credit. Another guy was 65 when he won a couple million, and budgeted for spending the entire payout check every year, assuming he'd die before the checks stopped coming. You guessed it - he lived into his 90s, and was working part time in a Mickey Ds to supplement SS.

This sort of thing interests me because I personally know THREE people that have won lotteries, two of them in the same family.

Emanuel

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Everybody wants a normal life and a cool car;
most people settle for the car." Chris Titus
1966 Rolls-Royce Silver Shadow
1983 Porsche 911 SC Targa

Cabman:
Post a fax number, and I will send a fax of the check to you if you don't believe me; or perhaps you'd prefer to see a copy of the congratulatory letter from the Lottery's executive director. (In reviewing the letter, the actual annuity amount is $15,652,167.70) I have no motivation to "spew out ridiculous claims" on this board; why would anyone waste their time?
What's so hard to believe? There was another guy in this small town who won a similar amount & did just the opposite: high profile, lots of fancy cars, boats, houses, etc. He got into real trouble and is just now getting out of jail & is broke. Even had a relative try to hire another to have him killed. Had been to just about every attorney in this county to help him get out of his problems. Don't worry, my guy's doing the right thing.
regards,
jlex.

The problem with lotteries is the people who can afford them least waste the most money on them.
When I lived in a nasty part of Hartford CT there would always be a line out the door of the druggist the day the welfare checks came. Powerball, daily numbers, those instant scratch-off games. This is money that should have gone for milk, bread and soap! The basics!
The govenment has no business promoting this scam.

Gaijinda:
Amen to that. I remember going to the racetrack in Jacksonville, FL for the first and last time in my life. It was devastating to see mostly dirt-poor people throwing their money away. There may be some racetracks around the country that attract those who can afford to lose, but I was so disgusted by that first experience, I don't care if I ever go back. They should pass a nationwide law that no one is allowed to spend more than $25 per week on organized gambling, then implement an ID system to enforce it.
regards,
jlex.

so, you are either kidding or you are a communist!

Although knowing people who have won lottos may make it seem all that more possible that you too could hit it big, the odds remain the same: 79,999,999 chances to lose and 1 chance to win.

Of course you could buy 2 tickets to really increase your odds of winning: 79,999,998 chances to lose and 2 chances to win. http://www.pelicanparts.com/ultimate/wink.gif

Neither.... I just feel sorry for poor people; if you have a better solution to keep people from pissing away their welfare or disability checks (your and my tax dollars), let's hear it.
regards,
jlex.

In Oregon, the state sells all the distilled spirits. The state has all kinds of lottery games, including video poker. The state has a "medical marijuana law", requiring an annual $150 (I think) permit to be purchased by the user. So, the state is into booze, gambling, and drugs. I guess prostitution is the only vice left? Well, gotta go mow the lawn, then go to town, spend a buck on a powerball ticket! http://www.pelicanparts.com/support/smileys/lol2.gif

I think this has actually been done. It happened to the Irish lottery I think.

For the big lottos you could never buy enough tickets in time.

Alex.