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$14M lotto winner, applies to be garbageman
Old 06-07-2010, 11:40 AM   #1
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$14M lotto winner, applies to be garbageman

Guy wins 9.7M (About $14M), spends it all in 7 years and is now on welfare hoping to get his old job back: garbage man.

Bin of the chavs: Lotto lout Michael Carroll set to return to old job after blowing 9.7m win | Mail Online

In case you're wondering it was the lavish gifts to friends, gambling, hookers and coke that did him in. Must have been one heck of a run. I wonder if he'll find those 7 years will have been worth the coming several decades of alarm clocks, early mornings, filth and inevitable back pain?
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Old 06-07-2010, 11:50 AM   #2
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I'm not much of an annuity-pusher, but this is the sort of situation for which the lifetime income stream of an SPIA might make sense.
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"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)

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Old 06-07-2010, 12:08 PM   #3
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Think he would have spent the SPIA money much differently?
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Old 06-07-2010, 02:01 PM   #4
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I'm not much of an annuity-pusher, but this is the sort of situation for which the lifetime income stream of an SPIA might make sense.
Yup, we finally found the one guy who could use an annuity.
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Old 06-07-2010, 02:03 PM   #5
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In case you're wondering it was the lavish gifts to friends, gambling, hookers and coke that did him in.
And the rest he just wasted.
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Old 06-07-2010, 02:51 PM   #6
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I'm not much of an annuity-pusher, but this is the sort of situation for which the lifetime income stream of an SPIA might make sense.
Of course. Then moderation would have been forced on him and he would have had 20 years of coke, booze, gambling, and hookers. The 7 years of fun was probably better for his liver.
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Old 06-07-2010, 03:00 PM   #7
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How about an annuitiy that pays out in hookers and coke?
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Old 06-07-2010, 03:07 PM   #8
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How about an annuitiy that pays out in hookers and coke?
Isn't that commonly referred to as a rap music recording contract?
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Old 06-07-2010, 03:53 PM   #9
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Think he would have spent the SPIA money much differently?
The point isn't so much whether he'd spend it differently as it is the fact that he'd never run out of money completely because he'd have a lifetime income stream. So at some point if he hit bottom and regained sanity, he'd still have a strong income stream and not have to go back to w*rk.
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Old 06-07-2010, 04:00 PM   #10
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He only he stuck to a 4% SWR. I like women but not as much as he did. God made Adam and Eve not Adam and four women.
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Old 06-07-2010, 04:00 PM   #11
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What an idiot...it's hard to believe that people can be that stupid.
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Old 06-07-2010, 04:27 PM   #12
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The beefiest guy at the gym isn't even 4 percent as hunky as the average garbageman. YMMV.
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Old 06-07-2010, 05:59 PM   #13
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How about an annuitiy that pays out in hookers and coke?
How much? Are you offering a new product? Cuz I might be interested or know someone who is...
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Old 06-07-2010, 06:01 PM   #14
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He only he stuck to a 4% SWR. I like women but not as much as he did. God made Adam and Eve not Adam and four women.
Of course. Everyone knows it was Adam, Eve, and Lilith!
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Old 06-07-2010, 07:15 PM   #15
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What he spent his money on is one thing, but how much he was paying for hookers and crack was just outrageous. If he had shopped around a little he could have gotten much a better deal. Of course most hookers usually charge a premium because of the cocaine effect. I guess just as youth is wasted on the young, good dope and chicks are wasted on garbage men.
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Old 06-07-2010, 07:39 PM   #16
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In case you're wondering it was the lavish gifts to friends, gambling, hookers and coke that did him in.
Not necessarily in that order...

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If he had shopped around a little he could have gotten much a better deal. Of course most hookers usually charge a premium because of the cocaine effect. I guess just as youth is wasted on the young, good dope and chicks are wasted on garbage men.
I wonder if there's a FatWallet thread that would have helped him do a better job of consumer research in these areas?
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Old 06-07-2010, 07:49 PM   #17
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I wonder if there's a FatWallet thread that would have helped him do a better job of consumer research in these areas?
Not sure about the dope, but hooker review sites abound on the internets.
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Old 06-07-2010, 09:36 PM   #18
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So, we're going to have a coke-addled loser with no morals or sense of financial responsibilty on the government payroll. He should fit right in.
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Old 06-07-2010, 09:47 PM   #19
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Too bad he wasn't as lucky as this guy:

"The day after winning $120 million in the lottery he meets the woman of his dreams"

Attached Images
File Type: jpg Lottery Winner.jpg (23.2 KB, 130 views)
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Old 06-07-2010, 10:28 PM   #20
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Think he would have spent the SPIA money much differently?

Yeah, perhaps a hooker a month for life instead of 2000 hookers before going broke
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