Join Early Retirement Today
Reply
 
Thread Tools Display Modes
If you won the lottery, would you tell anyone?
Old 02-11-2007, 04:38 PM   #1
Moderator
simple girl's Avatar
 
Join Date: Sep 2006
Posts: 4,029
If you won the lottery, would you tell anyone?

Here's a story for you. DH plays the lotto 2X a week. One week he misplaced his punchcard and ended up not playing.

Well, wouldn't you know, all 6 numbers hit that night.

We would have won a minimum of $1000/wk for life.

OK, so after being thoroughly depressed for several weeks...we have accepted this and moved on. However, it made us think. If we had won, would we have told anyone? We have some family members that would feel entitled and want us to bail them out of their messed up lives indefinitely (they already try this, and we've "paid" them off by giving them enough $$ that they know better than to come to the well again).

Just curious how others would handle this, if it happened to them.

And, words of sympathy much appreciated for our "loss". Yikes.
__________________
simple girl
less stuff, more time

(55, married; Mr. Simple Girl, 59. FIRED 12/31/19!)
simple girl is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Re: If you won the lottery, would you tell anyone?
Old 02-11-2007, 04:47 PM   #2
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jul 2006
Posts: 11,401
Re: If you won the lottery, would you tell anyone?

Great question (and my condolences on your loss!)

I wouldn't tell anyone unless it was a trivial amount of money. If it was a fortune, it would clinch the RE deal and I would buy the retirement home I want, resign, and move there ASAP.
Meadbh is offline   Reply With Quote
Re: If you won the lottery, would you tell anyone?
Old 02-11-2007, 04:50 PM   #3
Thinks s/he gets paid by the post
2B's Avatar
 
Join Date: Mar 2006
Location: Houston
Posts: 4,337
Re: If you won the lottery, would you tell anyone?

I would personally try to not tell anyone but they always publically announce the winner. Somebody would eventually find out in your family.

An alternative approach would be to hit your family up for a loan because you're about to be foreclosed on. If they bring up the lottery, you can say it can't be you. It must be another Mr. Simple Girl. If you had won, you wouldn't be losing your house. Donate the house to charity.

After that, buy a motor home and tool around the country for a year. Call every couple weeks to tell them you found a job on the night shift as a waitress at a different truck stop. You never know. They might even send you a few bucks.
__________________
The object of life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane -- Marcus Aurelius
2B is offline   Reply With Quote
Re: If you won the lottery, would you tell anyone?
Old 02-11-2007, 04:52 PM   #4
Thinks s/he gets paid by the post
DangerMouse's Avatar
 
Join Date: Jan 2007
Location: Silicon Valley
Posts: 1,812
Re: If you won the lottery, would you tell anyone?

I definitely wouldn't tell anyone, nor would I feel obliged to help any family members out by giving them lumps sums if they did find out. The type of family I come from, if you gave any of them a million bucks a year later it would be gone with nothing to show for it. However, I would help them out financially in other ways i.e. I would buy houses that they could reside in rent free, would not give them the title to the house as that would enable them to borrow against it. I would meet educational costs for children etc.

I do sympathise with the starter of this thread who came so close yet it was so far, I too play the lottery but only ever do computer generated picks as I would hate to find myself in a similar situation. By having random selections I never feel bad if I do miss a draw or two.
__________________

I be a girl, he's a boy. Think I maybe FIRED since July 08. Mid 40s, no kidlets. Actually am totally clueless as to what is going on with DH.
DangerMouse is offline   Reply With Quote
Re: If you won the lottery, would you tell anyone?
Old 02-11-2007, 05:00 PM   #5
Gone but not forgotten
Khan's Avatar
 
Join Date: Aug 2006
Posts: 6,924
Send a message via AIM to Khan
Re: If you won the lottery, would you tell anyone?

In some cases (don't know details) a lottery winner can form a trust and have the lawyer accept the winnings into the trust.

__________________
"Knowin' no one nowhere's gonna miss us when we're gone..."
Khan is offline   Reply With Quote
Re: If you won the lottery, would you tell anyone?
Old 02-11-2007, 05:07 PM   #6
Thinks s/he gets paid by the post
wabmester's Avatar
 
Join Date: Dec 2003
Posts: 4,459
Re: If you won the lottery, would you tell anyone?

I would tell everyone, and then sell them the secrets to my number picking system for only $99.
wabmester is offline   Reply With Quote
Re: If you won the lottery, would you tell anyone?
Old 02-11-2007, 05:38 PM   #7
Thinks s/he gets paid by the post
lazygood4nothinbum's Avatar
 
Join Date: Feb 2006
Posts: 3,895
Re: If you won the lottery, would you tell anyone?

Quote:
Originally Posted by simple girl
Well, wouldn't you know, all 6 numbers hit that night.
similar story from my sil twice already. i said: "and what do you think the world is trying to tell you about gambling?"

me? i'd tell everyone i know and like. i'd invite them all out of a chartered yacht for the day and each would get an evelope with $12k or whatever the tax-free gift happened to be when i won that $50mil lotto. so you all better be nice to me or you won't get an invite.
__________________
"off with their heads"~~dr. joseph-ignace guillotin

"life should begin with age and its privileges and accumulations, and end with youth and its capacity to splendidly enjoy such advantages."~~mark twain - letter to edward kimmitt 1901
lazygood4nothinbum is offline   Reply With Quote
Re: If you won the lottery, would you tell anyone?
Old 02-11-2007, 06:19 PM   #8
Thinks s/he gets paid by the post
 
Join Date: Oct 2005
Posts: 4,898
Re: If you won the lottery, would you tell anyone?

What a fun question! I'd tell my relatives, but I wouldn't announce it to the world. I'd get a lawyer to redeem the ticket for me. And of course I'd bail out my relatives. I'd love to be able to give them as much as I could!
Zoocat is offline   Reply With Quote
Re: If you won the lottery, would you tell anyone?
Old 02-11-2007, 06:29 PM   #9
Moderator Emeritus
W2R's Avatar
 
Join Date: Jan 2007
Location: New Orleans
Posts: 47,474
Re: If you won the lottery, would you tell anyone?

Sure, I'd tell people. I'd try not to brag or shout it to the stars, but I'd tell the same people that I'd tell if I got a tax refund.

If they hit me up for money, or otherwise handled it just as poorly in some other way, then that would probably be the last time they'd see me.

Life's too short to spend my time with people like that.
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities. - - H. Melville, 1851.

Happily retired since 2009, at age 61. Best years of my life by far!
W2R is offline   Reply With Quote
Re: If you won the lottery, would you tell anyone?
Old 02-11-2007, 06:57 PM   #10
Full time employment: Posting here.
Cattusbabe's Avatar
 
Join Date: Apr 2006
Posts: 816
Re: If you won the lottery, would you tell anyone?

Depends on the size of the fortune. A big power ball payout is hard to keep quiet even with setting up a trust and having a lawyer picking up the money. If its anything under a million I wouldn't say jack. Heck most of the family knows we've FIRED but have not seen much of a change in our life styles so they don't bother us. We keep the particulars to ourselves. It never pays to flash the cash IMO.
__________________
A todos los amantes del mundo. No importa el color de su piel, la pasion es universal.
_______________

La tavola e il letto non hanno restrizioni.
_____________
Any day your on this side of the grass is a good day.
Cattusbabe is offline   Reply With Quote
Re: If you won the lottery, would you tell anyone?
Old 02-11-2007, 08:15 PM   #11
Full time employment: Posting here.
 
Join Date: Dec 2006
Posts: 509
Re: If you won the lottery, would you tell anyone?

I would have no problem telling anybody about my winnings. Especially since I would invest everything and then retire -- my coworkers, friends, and family would know anyways.

That said, I also don't have friends/family who would "expect a piece of the action." I'm sure us buying dinner every time we go out would be plenty generous enough for them. Of course, just because they wouldn't expect it is not to say we wouldn't share it... I'm sure we'd help out our parents to make sure they could retire too.
Peaceful_Warrior is offline   Reply With Quote
Re: If you won the lottery, would you tell anyone?
Old 02-11-2007, 08:43 PM   #12
Recycles dryer sheets
 
Join Date: Jan 2006
Posts: 331
Re: If you won the lottery, would you tell anyone?

Nope. No good can come of letting people know about your sudden windfall. They will suddenly all be your best friend...
NinjaPigeon is offline   Reply With Quote
Re: If you won the lottery, would you tell anyone?
Old 02-11-2007, 08:52 PM   #13
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Ed_The_Gypsy's Avatar
 
Join Date: Dec 2004
Location: the City of Subdued Excitement
Posts: 5,588
Re: If you won the lottery, would you tell anyone?

You don't have a choice.

Lotteries have to publish who the winners are to eliminate the hint of scandal.

The rascals will know who you are.

Make your plans accordingly.

__________________
I have outlived most of the people I don't like and I am working on the rest.
Ed_The_Gypsy is offline   Reply With Quote
Re: If you won the lottery, would you tell anyone?
Old 02-11-2007, 10:04 PM   #14
Moderator Emeritus
bssc's Avatar
 
Join Date: Dec 2005
Posts: 10,125
Re: If you won the lottery, would you tell anyone?

We have a trust and the powerball can be awarded to a trust. I would tell everyone that DW got an early retirement package from her MegaCorp and she would tell everyone that my MegaCorp gave me an early retirement. I would give money to my sisters but would funnel it through my parents who already give them money.
__________________
Angels danced on the day that you were born.
bssc is offline   Reply With Quote
Re: If you won the lottery, would you tell anyone?
Old 02-11-2007, 10:56 PM   #15
Moderator Emeritus
Nords's Avatar
 
Join Date: Dec 2002
Location: Oahu
Posts: 26,856
Re: If you won the lottery, would you tell anyone?

You guys are good. I'm still trying to decide if my spouse would find out!

Gee, I wonder if she plays the lottery...
__________________
*

Co-author (with my daughter) of “Raising Your Money-Savvy Family For Next Generation Financial Independence.”
Author of the book written on E-R.org: "The Military Guide to Financial Independence and Retirement."

I don't spend much time here— please send a PM.
Nords is offline   Reply With Quote
Re: If you won the lottery, would you tell anyone?
Old 02-12-2007, 02:55 AM   #16
Thinks s/he gets paid by the post
Tadpole's Avatar
 
Join Date: Jul 2004
Posts: 1,428
Re: If you won the lottery, would you tell anyone?

I have lost many a night's sleep worrying over this precise question. I have arrived at the following solution. There is no way to stop the advertising of one's name since it is advertising for the lottery or to prevent the stalking that takes place afterwards until the money is gone. I only buy tickets for the over $200M lotteries. I have a preplanned gift to relatives and friends that leaves me comfortable. I will then get a shopping cart and move from my middle class home to the streets where I will pretend to be a bag lady. Reporters will use me in articles and books as an example of how lottery winnings are quickly spent. But, even though I am cold and hungry, I will still be rich and no one will know. I'm not too worried to sleep now; I have a plan.
Tadpole is offline   Reply With Quote
Re: If you won the lottery, would you tell anyone?
Old 02-12-2007, 05:22 AM   #17
Thinks s/he gets paid by the post
Outtahere's Avatar
 
Join Date: Sep 2005
Posts: 1,677
Re: If you won the lottery, would you tell anyone?

I don't play often but when I do I've thought about it. I'd have to tell them because they would find out at some point. Depending on the amount I would give some to family with the understanding that what they get is what they get and once that's gone it's too bad. I would then change my phone numbers and move far away.
__________________

Dogs aren't our whole lives, but they make our lives whole. - Roger Caras
Outtahere is offline   Reply With Quote
Re: If you won the lottery, would you tell anyone?
Old 02-12-2007, 06:49 AM   #18
Recycles dryer sheets
Kitty's Avatar
 
Join Date: May 2005
Location: Dunnville
Posts: 190
Re: If you won the lottery, would you tell anyone?

I have thought about winning the big one from time to time, not as much since I retired though.

My relatives know I am a tightwad when it comes to money, not that I haven't done my share of bail outs, the daughter-in-law with my grandkids comes to mind. She couldn't hold on to a buck if you glued it to her hand.

I don't care who knows, can you remember who won the last big one or the one before that? The big brew haa haa dies down in a few months and that should be about the time I return from my trip to ?

I would form a trust, of course I would be in charge of the trust for life. The trust would have its meetings where ever the chairperson (me) desires. An education fund would be set up for the grandchildren. I would help some charities and endow a school if there were enough money to do so.

I don't have to worry about the kids knowing about the big win they are to dull to read a paper and usually to drunk to stay awake for the TV late news.

Kitty



__________________
>My blogs https://oakspringfarm.blogspot.com
Kitty is offline   Reply With Quote
Re: If you won the lottery, would you tell anyone?
Old 02-12-2007, 07:01 AM   #19
Moderator
simple girl's Avatar
 
Join Date: Sep 2006
Posts: 4,029
Re: If you won the lottery, would you tell anyone?

Quote:
Originally Posted by Kitty

I don't have to worry about the kids knowing about the big win they are to dull to read a paper and usually to drunk to stay awake for the TV late news.

Kitty
LOL. I can relate. We live far away from both sides of the family, so if we won a state lotto, they likely wouldn't hear about it. I think. Now if it were a multi-million one, well, there's no way you could keep that out of the national presses.

This one that we missed was a state lotto. It would have been enough to FIRE, but not enough to throw $ around. We keep telling ourselves, well, at least we can actually amass this kind of $ ourselves (in several more years, though!) in time...if it had been a multi-million $ lotto it would have been even tougher.
__________________
simple girl
less stuff, more time

(55, married; Mr. Simple Girl, 59. FIRED 12/31/19!)
simple girl is offline   Reply With Quote
Re: If you won the lottery, would you tell anyone?
Old 02-12-2007, 07:39 AM   #20
Thinks s/he gets paid by the post
 
Join Date: Dec 2004
Posts: 1,798
Re: If you won the lottery, would you tell anyone?

Me and the DW have talked about this a couple times. The only family who would receive money would be our parents. It would be an amount exactly equaling the outstanding balance on their house. If any of them comes begging for more it would be very difficult to give them any. The reason is all of them have mortgages and paying that off would save them a load of money per month. That would essentially give them a pay raise. If they are so foolish with money to not be able to live on more than they were living on before they do not deserve more money.

The point is mute now. The state we live in doesn't have a lottery and I'm not driving an hour to buy a ticket.
__________________
You don't want to work. You want to live like a king, but the big bad world don't owe you a thing. Get over it--The Eagles
lets-retire is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
I just bought VFINX today AirJordan FIRE and Money 113 12-19-2007 07:17 AM
Winning Life's Lottery... JohnP Health and Early Retirement 7 02-16-2007 09:32 AM
Why are lottery winnings taxed RedHawk FIRE and Money 26 01-20-2007 06:04 AM
Wins $41 million and plans to keep working wabmester FIRE and Money 32 01-13-2007 01:47 PM
lottery dory36 Other topics 3 01-23-2004 05:55 PM

» Quick Links

 
All times are GMT -6. The time now is 08:46 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2024, vBulletin Solutions, Inc.