Who wants to be a billionaire (almost)

[unclemick]

If you have the proverbial 'enough' in ER, then winning the lottery becomes that evil one managed to avoid in ER.

WORK!

Heh heh heh -

[harley]

Quote:

Originally Posted by Retired Expat So seriously, how many of you would upend your lives? Move to a mansion, drive a rolls Royce and change your style of living?

I'd make changes, but not necessarily upend my life. I'd sign up for NetJets so I don't ever have to fly commercial again. I would get a different house, on a bit more land (with nice views), but mostly I'd have a large heated swimming pool. But other than that I don't think I'd change too much. I've already got beautiful views, but zoning won't allow the pool.

[NW-Bound]

Quote:

Originally Posted by Sunset There are a number of folks here, who have stocks/bank accounts worth a few million. Far more than any regular bank robber could dream of getting in a heist. Yet we rarely hear of old folks being robbed of all their savings at gunpoint.

Well, the next-door millionaires usually do not keep wads of cash under their mattress, and particularly do not advertise that they have loads of money. And they try to be anonymous on public forums.

And there was Andrew “Jack” Whittaker, who in 2002 won the biggest jackpot ever up to that time of $315 million. It did not end well for him. The strange thing is that he owned a construction business already worth $17 million when he won the money.

His life afterwards was misery.

Excerpt follows from https://abcnews.go.com/US/wireStory/...es-72-71536558.

Quote:

... he quickly fell victim to scandals, lawsuits and personal setbacks as he endured constant requests for money, leaving him unable to trust others. Several times, he was quoted as saying he wished he had torn up the ticket. His wife left him. A friend of his drug-addicted granddaughter was found dead at his home in 2004. Three months later, his 17-year-old granddaughter was gone, too. His daughter, Ginger Whittaker Bragg, died in 2009 at age 42 after struggling for years with cancer. And in 2016, he lost a Virginia home to a fire. He struggled with drinking and gambling. His home and car were repeatedly burglarized. At a strip club, thieves broke into his Lincoln Navigator and stole a briefcase stuffed with $245,000 and three $100,000 cashiers’ checks.

[Koolau]

Quote:

Originally Posted by NW-Bound Well, the next-door millionaires usually do not keep wads of cash under their mattress, and particularly do not advertise that they have loads of money. And they try to be anonymous on public forums. And there was Andrew “Jack” Whittaker, who in 2002 won the biggest jackpot ever up to that time of $315 million. It did not end well for him. The strange thing is that he owned a construction business already worth $17 million when he won the money. His life afterwards was misery. Excerpt follows from https://abcnews.go.com/US/wireStory/...es-72-71536558.

I watched a program a few years back that detailed the "fate" of several big winners. I don't recall but one good outcome - apparently a couple was able to hide their identity in some fashion. I do not recall how.

Most had similar outcomes to Whittaker. While most managed to have some money left over, there were some who went bankrupt. It almost seemed that winning made these folks loose their common sense.

I think the sad part is that gummint agencies who set these lotteries up take no responsibility for protecting the winners. I recall one lotto winner complaining that the USPS routinely stuffed bags of mail into his mailbox (after he had moved to get away from the "fan mail.") Addresses were something like "Big Lotto Winner in Podunk AL."

I understand part of the marketing of these lotteries is to show the happy winner(s) with their big check with the big (false) numbers on them. In reality, 700 million is already drastically reduced by taking it as a single payout AND roughly 50%+/- taxes (IIRC). It's still a bunch of money (if you start with $700 mil) but it AIN'T 700 mil. I think lotto winners should be offered (maybe forced) to undergo counseling regarding their winnings. They should also be offered some level of protection against harassment.

I think the worst thing about lottos is the way they were originally promoted as all "sweetness and light." Yeah, we're gonna fund the SCHOOLS with all the money we take in. They never pointed out that schools were already funded and now the gummints would be able to use the "old" funding for something else. All smoke and mirrors and the most regressive tax one could image.

Okay, end of rant. Now returning you to the question of "who wants to be a billionaire (almost.)"

[ncbill]

Wouldn't want to be a billionaire...everybody knows you are one, can't do anything spontaneous (have to send your security team in advance wherever you go)

e.g. Richard Branson...he had to buy an entire island just to have somewhere secure enough to kick back and relax w/o fear of being kidnapped
...or worse.

Would only buy lottery tickets if I could remain anonymous...but there are few states here in the USA that allow that.

[street]

^ yes more worriers and problems involved with being filthy rich.

[FANOFJESUS]

Quote:

Originally Posted by ncbill Wouldn't want to be a billionaire...everybody knows you are one, can't do anything spontaneous (have to send your security team in advance wherever you go) e.g. Richard Branson...he had to buy an entire island just to have somewhere secure enough to kick back and relax w/o fear of being kidnapped ...or worse. Would only buy lottery tickets if I could remain anonymous...but there are few states here in the USA that allow that.

I think when you are poor you think money solves problems when you are rich you think it makes problems. There is some truth to both views. I lived by a guy in the 80's that won 100k in the lotto. He had to turn off the phone. I don't think he answered the door either. Makes you kind of scared to think what happens to billionaires. I think you end being bugged to death and run away.

[aaronc879]

Quote:

Originally Posted by ncbill Wouldn't want to be a billionaire...everybody knows you are one, can't do anything spontaneous (have to send your security team in advance wherever you go) e.g. Richard Branson...he had to buy an entire island just to have somewhere secure enough to kick back and relax w/o fear of being kidnapped ...or worse. Would only buy lottery tickets if I could remain anonymous...but there are few states here in the USA that allow that.

If I moved out of my hometown why would anyone at my new hometown know I was a billionaire if I didn't tell them? I wouldn't advertise it. I think people think it would be more of a problem than it really would be. I'd volunteer to find out.

[FANOFJESUS]

Quote:

Originally Posted by aaronc879 If I moved out of my hometown why would anyone at my new hometown know I was a billionaire if I didn't tell them? I wouldn't advertise it. I think people think it would be more of a problem than it really would be. I'd volunteer to find out.

I am guessing that some people would follow these people around. I think people would hunt you down over time to bug you. That's why I think a person would always be moving.

[Nemo2]

I'd like to be stinkin' rich and anonymous, with none of the accoutrements of wealth; I don't need them and I don't want them, but I'd love to go where I want when I want at a moment's notice.

Inwardly smirking all the while at the arrivistes who incorrectly believe they are impressing all those around them.

[NW-Bound]

Quote:

Originally Posted by aaronc879 If I moved out of my hometown why would anyone at my new hometown know I was a billionaire if I didn't tell them? I wouldn't advertise it. I think people think it would be more of a problem than it really would be. I'd volunteer to find out.

Quote:

Originally Posted by FANOFJESUS I am guessing that some people would follow these people around. I think people would hunt you down over time to bug you. That's why I think a person would always be moving.

Some people will always remember and recognize the lucky you.

You could go to a nice 1st world country, like Malta, which accepts anybody who has a few million. The nice thing about a Malta citizenship is you then can go anywhere in the EU, or back to the US to visit.

Yep, that's what I would do, although I have to play the lottery first.

[harley]

I would think that if you put most of the money in a charitable trust and announced that you had done so, it would significantly cut down on the harassment. Especially if you have it managed by a well paid third party (like my daughter who has a different last name). Since the likelihood of this happening is close to zero I haven't put much thought into it. But I would think there would be ways to cut out most of the negative side effects.

[Koolau]

Quote:

Originally Posted by aaronc879 If I moved out of my hometown why would anyone at my new hometown know I was a billionaire if I didn't tell them? I wouldn't advertise it. I think people think it would be more of a problem than it really would be. I'd volunteer to find out.

All it would take would be one hungry "journalist" to track you down and blow your cover so s/he would have a front page story in the local gazette. Your need to move (again) for anonymity would get the "cub reporter" a nice $20/week raise. At least you would be "passing it on." YMMV

[Sunset]

Quote:

Originally Posted by NW-Bound Well, the next-door millionaires usually do not keep wads of cash under their mattress, and particularly do not advertise that they have loads of money. And they try to be anonymous on public forums. And there was Andrew “Jack” Whittaker, who in 2002 won the biggest jackpot ever up to that time of $315 million. It did not end well for him. The strange thing is that he owned a construction business already worth $17 million when he won the money. His life afterwards was misery. Excerpt follows from https://abcnews.go.com/US/wireStory/...es-72-71536558.

Frankly, Whittaker does sound pretty stupid and the story lists a bunch of things that would have happened if he had stayed only $17 Million rich:

What fool walks around with a briefcase stuffed with $245,000 and three $100,000 cashiers’ checks

It would be good if big winners got advice of how to behave after being suddenly rich with cash.

[harley]

Quote:

Originally Posted by Sunset It would be good if big winners got advice of how to behave after being suddenly rich with cash.

The best advice they could be given (don't be stupid) is the same advice most people are given in many sets of circumstances. Most of them don't follow it either.

[Music Lover]

Quote:

Originally Posted by NW-Bound Well, the next-door millionaires usually do not keep wads of cash under their mattress, and particularly do not advertise that they have loads of money. And they try to be anonymous on public forums.

And most importantly, they earned their money gradually and had time to adapt to a slowly increasing net worth. Most of them likely lived quiet LBYM lifestyles and had years of good habits formed.

Those people have a far better chance of doing well after a lottery win than someone who blew every pay cheque and had to have the latest toy. A lottery win for them is just another excuse to spend....and now they can spend BIG!!

[harley]

I guess I did think of a major lifestyle change that I would make if I won all that money. It only costs $55M to go to the ISS. I can't swing it without the lottery, but if I won the big bucks it would definitely be on the table.

[Koolau]

Quote:

Originally Posted by harley I guess I did think of a major lifestyle change that I would make if I won all that money. It only costs $55M to go to the ISS. I can't swing it without the lottery, but if I won the big bucks it would definitely be on the table.

Maybe I'd go to the ISS with my NEXT $55M. Before that, I'd do some stuff closer to home - maybe Fiji, Japan, RP, etc. Wait! I can do that already - I just have to Blow That Dough so never mind.

Hey, if I win $700 mil, I'll pay YOUR way to ISS. (Can someone loan me $2?)