Culture
Recycles dryer sheets
- Joined
- Apr 15, 2007
- Messages
- 491
Culture said:
crazy connie said:The greed factor kicked in and he wanted it all!
Andre1969 said:So how much, on average, does an annuity like that increase every year? I always thought that when you won a lottery and took the annuity instead of the lump sum, that the yearly payments were the same?
FinanceDude said:You can get the settlement as a COLA annuity, or take a lump sum. About 95% take the lump sum..............
Olav23 said:They should really force you to take an investing/financial planning seminar before you are handed the big novelty check.... People prey on uneducated and unsophisticated folks, and it is all in all pretty sad.
Milton said:It may well be that there is more to this story than meets the eye. But at first glance, it is not readily apparent that Salomon Smith Barney has any liability.
donheff said:In the arbitration hearing, Robertson Stephens claimed that it had indeed presented hedging opportunities to Mr. Hayden, but he declined them. The firm said it also encouraged Mr. Hayden to diversify his holdings.
In a written statement about Mr. Hayden’s case, Bank of America said, “In a 21-page opinion, Mr. Chernick dismissed all of Mr. Hayden’s claims as meritless. That opinion speaks for itself.”
Sounds like Hayden definitely was suffering from "sudden wealth syndrome." No sympathy for someone who ignores advice and then complains that the advisor should have spanked him.