Biggest Lottery winner 30 years ago is now living in a trailer park

[bigfrank Administrator Find all posts View Profile Close bigfrank]

Once famous lottery winner now broke

[4ARedOctober Super Moderator Find all posts View Profile Close 4ARedOctober]

Two words of advice:

Prenuptial Agreement

[chriskre Super Moderator Find all posts View Profile Close chriskre]

Well at least he had 20 years of fun. Most people end up this way without all the fun in between. So good for him for spending his kids inheritance.

You can't take it with you anyway.

[Jya-Ning Silver Contributor Find all posts View Profile Close Jya-Ning]

Two words of advice:

Prenuptial Agreement

Too late, he already married.

Jya-Ning

[PigsDad Senior Member Find all posts View Profile Close PigsDad]

I don't have a reference, but I remember reading an article several years ago that stated the percentage of lottery jackpot winners who had declared bankruptcy within 5 years of winning. I just remember that the percentage was surprisingly high!

Kurt

[4ARedOctober Super Moderator Find all posts View Profile Close 4ARedOctober]

Actually I think he is twice divorced.

That was meant for anyone else who wins the lottery and wants to get married.

Too late, he already married.

Jya-Ning

[lawren2 Malibu Beach Barbie & A Super Moderator Find all posts View Profile Close lawren2]

well if the trailer was in El Morro/ Crystal Cove it wouldn't be a bad thing. Unfortunately that closed down about 3 years ago. Who cares if it was a double wide? What a view!

[shaggy Moderator Find all posts View Profile Close shaggy]

I had a coworker at Sears who would never ever enter any lottery as he said it was bad karma. Bad things would happen. He would never enter any kind of contest. Just once I'd like to find out , karma or not. shaggy

[kbletzer Senior Member Find all posts View Profile Close kbletzer]

My brother won 2million on a scratch ticket in MA about 15 years ago. It equated to 100K per year for 20 years before taxes. His wife at the time filed for divorce after the win and took most of it in child support and private schooling for the two children(have no beef with that as it is the right thing). What little is left every year he spends on his own housing. He is a recovering alcoholic (would have been regardless of the win in my opinion) and when the annual checks run out, he will have nothing but the home he lives in and I'm not sure he'll be able to afford that.
I don't think the money that went to the private schooling was beneficial as the children now attend public school with no plans to attend college. I have no idea where she spends her annual check as she lives in a terrible/crime ridden area. I try not to be judgemental but it's hard to see this happen to family members.
At the time of the win, they completely closed themselves off and did not want any advice from family members who wanted them to save some of the money and live within their means.
It could have been a terrific way to secure the future but I forsee them being completely broke in the next few years and the children will have no money for school if they choose to attend.

[bigfrank Administrator Find all posts View Profile Close bigfrank]

When I was at work we hired a guy that was just released from jail no one wanted him there but he got hired. He was out of jail 3 weeks and he won a few Million dolors on Lotto. He quit the next day and no one has heard from him since but I have a feeling the $ went up his nose.

[Icc5 Senior Member Find all posts View Profile Close Icc5]

Football players

Heard something recently that the average Pro football player is broke within 5 years of leaving the game. Just shows that coming across money all of a sudden can really be a problem.
Bart

[taffy19 Gold Contributor Find all posts View Profile Close taffy19]

well if the trailer was in El Morro/ Crystal Cove it wouldn't be a bad thing. Unfortunately that closed down about 3 years ago. Who cares if it was a double wide? What a view!

Lawren, we drove by this place a few days ago and it looks so much better without these derelict trailers there. This little cove is a gem. We wonder what the State is going to do with this place?

[lawren2 Malibu Beach Barbie & A Super Moderator Find all posts View Profile Close lawren2]

Lawren, we drove by this place a few days ago and it looks so much better without these derelict trailers there. This little cove is a gem. We wonder what the State is going to do with this place?

Emmy,

They weren't derelict when people were living in them as I'm sure you know. A very long and drawn out battle. It took the state of California nearly 3 years after final eviction to do anything with the property!

I hear it is supposed to be a state park with camping facilities. I'm sure it will have a very long wait list.

I was looking for some pictures but couldn't find any on-line just this artist rendering. My Dad lived up in that area for a bit when he was an officer at El Torro in the 50s. One of his neighbors was Bette Davis! Obviously not in a trailer.

[lawren2 Malibu Beach Barbie & A Super Moderator Find all posts View Profile Close lawren2]

My brother won 2million on a scratch ticket in MA about 15 years ago. It equated to 100K per year for 20 years before taxes. His wife at the time filed for divorce after the win and took most of it in child support and private schooling for the two children(have no beef with that as it is the right thing). What little is left every year he spends on his own housing. He is a recovering alcoholic (would have been regardless of the win in my opinion) and when the annual checks run out, he will have nothing but the home he lives in and I'm not sure he'll be able to afford that.
I don't think the money that went to the private schooling was beneficial as the children now attend public school with no plans to attend college. I have no idea where she spends her annual check as she lives in a terrible/crime ridden area. I try not to be judgemental but it's hard to see this happen to family members.
At the time of the win, they completely closed themselves off and did not want any advice from family members who wanted them to save some of the money and live within their means.
It could have been a terrific way to secure the future but I forsee them being completely broke in the next few years and the children will have no money for school if they choose to attend.

That is very sad. Such a wasted opportunity for the family....

Back to that old saw. "If you all hung your laundry out on the line in the yard you'd be incined to keep your own laundry" or something to that effect.

I'd like to think I would do better but probably would spend it all on vacations.

[RESORT2ME Senior Member Find all posts View Profile Close RESORT2ME]

I think no one knows for sure what they would do, but
I too would like the opportunity to find out.

For some reason, I always figured I'd help several family members get out of their indebtedness... maybe even pay off their mortgages if the win was BIG.

Mother had the saying, "Leopards can't change their spots". If you don't make things better as you go along now, expect the same when you get a big chunk.

We would travel to several places and one thing I'm fairly sure of... we would fly first class for awhile.