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Old 06-25-2018, 03:04 PM   #21
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Even more dangerous is the effect a sudden “investment” success might have on neighbors. Back in the late 1990’s the small town of St. Paul, Alberta was full of Bre-X paper millionaires before the whole scam unraveled:

CBC Archives

A study of the long term effects of the rags-to-riches-to-rags experiences of a substantial number of folks in the town might make an interesting graduate thesis.


For the background

https://en.m.wikipedia.org/wiki/Bre-X
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Old 06-25-2018, 05:00 PM   #22
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I just thought of a new book idea: The bankruptcy next door! It can profile people that lived it up, living high on the hog...only to suddenly declare bankruptcy out of the blue (or, at least, out of the blue to those that just saw the expensive trappings of their lifestyle).
Well, here's a list of the 25 worst lottery winner horror stories that might be a start for your book:

https://list25.com/25-worst-lottery-...tionary-tales/

omni
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Old 06-25-2018, 06:06 PM   #23
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If I win the lotto, I’m moving anyway...
If you read the article, they limit it to smaller lottery winners, since they are less likely to move. The lottery winner often doesn't disclose winning the lottery (so they don't have to share or always pick up the tab at dinners), but buy more toys, which they can afford (to an extent). Neighbors see these, and they buy toys too, but they can't afford them, not having won any lottery money.

Interesting phenomenon.
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Old 06-28-2018, 11:44 AM   #24
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Even more dangerous is the effect a sudden “investment” success might have on neighbors. Back in the late 1990’s the small town of St. Paul, Alberta was full of Bre-X paper millionaires before the whole scam unraveled:

CBC Archives

A study of the long term effects of the rags-to-riches-to-rags experiences of a substantial number of folks in the town might make an interesting graduate thesis.


For the background

https://en.m.wikipedia.org/wiki/Bre-X
Gold was a fun dramatization of the event:
https://en.m.wikipedia.org/wiki/Gold_(2016_film)
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Old 06-28-2018, 12:07 PM   #25
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Don't people have enough of their own personal business to attend to without getting involved in their neighbors' lives ??

I have no clue how much money my neighbors spend... and I am not at all interested.
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Old 06-28-2018, 12:16 PM   #26
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.

Don't people have enough of their own personal business to attend to without getting involved in their neighbors' lives ??

I have no clue how much money my neighbors spend... and I am not at all interested.
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Old 06-28-2018, 03:36 PM   #27
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Couldn't something like the Amazon thread lead to similar behavior - buy something you wouldn't have even been thinking about before you saw it and read the raves?
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Old 06-28-2018, 03:37 PM   #28
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Couldn't something like the Amazon thread lead to similar behavior - buy something you wouldn't have even been thinking about before you saw it and read the raves?
Yep. Instapot just arrived. I'm keeping up with all of you. Blow that Dough.
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Old 06-28-2018, 04:52 PM   #29
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Kindof the reverse, but people see how I live (very modest condo, in a so-so neighborhood, Toyota Rav4), and they assume we are poor and often offer to give us stuff!
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Old 06-30-2018, 01:09 AM   #30
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I kind of understand the dynamic. A very good friend has a late model Camaro with something like 700 HP. He gave me a ride and I wanted one! Now, I have no place to garage one or even drive one - but I wanted one. Oh, and by the way, my dear friend is $500,000 in debt at age 73! YMMV
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Old 06-30-2018, 05:43 AM   #31
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Well, here's a list of the 25 worst lottery winner horror stories that might be a start for your book:

https://list25.com/25-worst-lottery-...tionary-tales/

omni
Pretty awful stories there. Seems like many of them were predisposed to lead lousy lives, and the lottery windfall only put gasoline on that fire (i.e. drug abuse, bad relatives and friends).

I know it isn't nearly as sexy or click-baiting, but I'd like to read some stories about lottery winners whose lives greatly improved. They paid off debts, put kids through college, improved living conditions, became healthier, maybe retired early!
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Old 06-30-2018, 07:20 AM   #32
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i won second prize in a lottery many years back but the prize money ( $6.60 Australian ) didn't impress anyone , but i DID stop buying tickets so maybe i was lucky in the long term ( but i did in 2012 buy shares in the company running the lottery .. that hasn't been such a bad investment )

does slow and steady really win the race
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Old 06-30-2018, 07:29 AM   #33
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i won second prize in a lottery many years back but the prize money ( $6.60 Australian ) didn't impress anyone , but i DID stop buying tickets so maybe i was lucky in the long term ( but i did in 2012 buy shares in the company running the lottery .. that hasn't been such a bad investment )

does slow and steady really win the race
That's what they say and I am buying into it.
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Old 06-30-2018, 07:56 AM   #34
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I won second prize in a beauty contest, but alas it was in the game of monopoly and my $15 was in funny money. It is rumored that I was the only one who entered that contest. : )
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Old 06-30-2018, 11:34 AM   #35
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Kindof the reverse, but people see how I live (very modest condo, in a so-so neighborhood, Toyota Rav4), and they assume we are poor and often offer to give us stuff!

I see an eBay business springing out of this...
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Old 06-30-2018, 11:42 AM   #36
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...but I'd like to read some stories about lottery winners whose lives greatly improved. They paid off debts, put kids through college, improved living conditions, became healthier, maybe retired early!
There was one near here about eight or ten years ago. An already retired sheriff won ~$5 million and has done a lot of donating to the community for stuff like a starter donation for a gym for a high school, a community center, donations to food pantries and the like. He keeps a pretty low profile though so one doesn't hear much about it. But ones like that don't make good news stories.
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Old 06-30-2018, 03:06 PM   #37
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I know it isn't nearly as sexy or click-baiting, but I'd like to read some stories about lottery winners whose lives greatly improved. They paid off debts, put kids through college, improved living conditions, became healthier, maybe retired early!
There's an HGTV show called "My Lottery Dream Home" that profiles lottery winners looking for a new home. There is a mix of types, but a decent % are not overspending - like one late 20s female that won $5 million, but only was looking for a condo of around $250k I think (in the Indianapolis area), and a few others that are definitely grounded and sensible. Along with the handful that are looking for a new home that would use up 60% or so of the winnings (which is pre-tax-so I hope they can afford the real estate taxes/utility bills/insurance/maintenance!).
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Old 06-30-2018, 04:05 PM   #38
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I would be responsible for bringing down multiple sets of neighbors, next to my main home, my city Pied a Terre, my country home...
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Old 06-30-2018, 04:17 PM   #39
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If I win the lotto, I’m moving anyway...

Me too. Wait.........I don't play the lotto Nevermind............
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Old 07-01-2018, 04:24 AM   #40
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My psyche recognizes a big difference in savings and found money. I would have so much fund spending found money even though I can't stand to touch my savings.
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