ibe98765 Posted November 13, 2004 Share Posted November 13, 2004 Unlucky in richesBy Ellen Goodstein • Bankrate.com For a lot of people, winning the lottery is the American dream. But for many lottery winners, the reality is more like a nightmare."Winning the lottery isn't always what it's cracked up to be," says Evelyn Adams, who won the New Jersey lottery not just once but twice (1985, 1986) to the tune of $5.4 million. Today the money is all gone and Adams lives in a trailer."I won the American dream but I lost it, too. It was a very hard fall. It's called rock bottom," says Adams."Everybody wanted my money. Everybody had their hand out. I never learned one simple word in the English language -- 'No.' I wish I had the chance to do it all over again. I'd be much smarter about it now," says Adams who also lost money at the slot machines in Atlantic City."I was a big time gambler," admits Adams. "I didn't drop a million dollars, but it was a lot of money. I made mistakes, some I regret, some I don't. I'm human. I can't go back now so I just go forward, one step at a time."Living on food stampsWilliam "Bud" Post won $16.2 million in the Pennsylvania lottery in 1988 but now lives on his Social Security. "I wish it never happened. It was totally a nightmare," says Post.A former girlfriend successfully sued him for a share of his winnings. It wasn't his only lawsuit. A brother was arrested for hiring a hit man to kill him, hoping to inherit a share of the winnings. Other siblings pestered him until he agreed to invest in a car business and a restaurant in Sarasota, Fla., -- two ventures that brought no money back and further strained his relationship with his siblings.Post even spent time in jail for firing a gun over the head of a bill collector. Within a year, he was $1 million in debt.Post admitted he was both careless and foolish, trying to please his family. He eventually declared bankruptcy. Now he lives quietly on $450 a month and food stamps. "I'm tired, I'm over 65 years old, and I just had a serious operation for a heart aneurysm. Lotteries don't mean [anything] to me," says Post.Deeper in debtSuzanne Mullins won $4.2 million in the Virginia lottery in 1993. Now she's deeply in debt to a company that lent her money using the winnings as collateral.She borrowed $197,746.15, which she agreed to pay back with her yearly checks from the Virginia lottery through 2006. But, when the rules changed allowing her to collect her winnings in a lump sum, she cashed in the remaining amount. But, she stopped making payments on the loan.She blamed the debt on the lengthy illness of her uninsured son-in-law who needed $1 million for medical bills. Mark Kidd, the Roanoke, Va., lawyer who represented the Singer Asset Finance Company who sued Mullins, confirms. He won a judgment for the company against Mullins for $154,147 last May, but they have yet to collect a nickel. "My understanding is she has no assets," says Kidd.Full article Quote Link to comment Share on other sites More sharing options...
NRD Posted November 13, 2004 Share Posted November 13, 2004 I'm really trying to feel bad for the above people, but I just can't Quote Link to comment Share on other sites More sharing options...
zox Posted November 13, 2004 Share Posted November 13, 2004 I'm really trying to feel bad for the above people, but I just can't ha ha , ditto! Quote Link to comment Share on other sites More sharing options...
epp_b Posted November 13, 2004 Share Posted November 13, 2004 I'm really trying to feel bad for the above people, but I just can't *chuckle* Quote Link to comment Share on other sites More sharing options...
patio Posted November 13, 2004 Share Posted November 13, 2004 Funny how people who have earned a million are far more careful with it...patio. Quote Link to comment Share on other sites More sharing options...
georgeg4 Posted November 13, 2004 Share Posted November 13, 2004 I'm really trying to feel bad for the above people, but I just can't tongue.gif DITTO !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! Quote Link to comment Share on other sites More sharing options...
longgone Posted November 13, 2004 Share Posted November 13, 2004 As was seen in a now defunct forum ...." ignorance is bliss" and those are 3 very blissful individuals ... if I won the lotto ... first priority .. become debt free ... second finish the restoration of my semi ... third get back on the road again .. saying NO to leeches and freeloaders is not a problem for me ... related or not ..... Quote Link to comment Share on other sites More sharing options...
jar92380 Posted November 13, 2004 Share Posted November 13, 2004 most of it was from greedy family members. Seriously what person if their right mind would hire a hitman hoping to recieve some of the money. Quote Link to comment Share on other sites More sharing options...
havnblast Posted November 13, 2004 Share Posted November 13, 2004 after reading that all I can say is wow - some people just don't know how to handle money I guess Quote Link to comment Share on other sites More sharing options...
Guest Paracelsus Posted November 13, 2004 Share Posted November 13, 2004 :offtopic:I agree, for the most part, with what everyone has said about the "Winners"...But I also identify strongly with the two who gave a large portion to family... even though nothing came of it.I've never won a Lottery... But do have a younger sister & brother who constantly turn to me for "financial aide". I had some times, early on in my adult life, when I needed to turn to an older brother or sister to "bail me out" of a monetary pinch. And I have done the same for my younger siblings. Granted...I was responsible enough to pay my elder siblings back in kind, even though they never asked for such. And I never would for my baby sister & brother. Even though...Between the two of them, they are into me for 20K+ over the years.I knew when I "lent" (gave) them money, that I would never see it again. We are still very close, even though we don't get together as frequently as we use to. They have never heard a word from me about what I have done for them... even when we've argued... And they never will.One should only give from a genuine desire to help...Not from a sense of obligation or a feeling of potential control/gain in the future.Generosity brings its own rewards. Those who are not content with those esoteric rewards need to think twice (or more) Quote Link to comment Share on other sites More sharing options...
Ed_P Posted November 13, 2004 Share Posted November 13, 2004 Funny how people who have earned a million are far more careful with it...Very true. Not that I have any experience to confirm that. Many pro athletes, who make millions when active, end up poor. Mike Tyson comes to mind and there are others.The basic premise is $$$ does not equal IQ. Or probably more specifically $$$ does not equal the knowledge of how to manage $$$.I knew when I gave them money that I would never see it again.The difference between "giving" and "lending".I love it when my kids would "give" their girl friends and boy friends stuff then break up and demand it back. "Hey you gave it to them, you didn't lend it to them, don't expect it back." was a phrase I used more than once with them. Quote Link to comment Share on other sites More sharing options...
longgone Posted November 13, 2004 Share Posted November 13, 2004 (Oh no)....Now I see why it would not be hard for me to say no ... I was an only child (won't/don't/can't/ refuse to count those 4 step siblings) ... that must have made a difference in my up bringing .. .. Quote Link to comment Share on other sites More sharing options...
georgeg4 Posted November 13, 2004 Share Posted November 13, 2004 paracelsus I knew when I gave them money that I would never see it again. We are still very close, even though we don't get together as frequently as we use to. They have never heard a word from me about what I have done for them... even when we've argued... And they never will. HI BROTHER Quote Link to comment Share on other sites More sharing options...
Guest Paracelsus Posted November 14, 2004 Share Posted November 14, 2004 HI BROTHER That was a Previous Life, GeorgeThe one where I was a Franciscan Monk :harhar:How's about a Perpetual Novena in lieu of cash?The difference between "giving" and "lending".That's quite true, Ed. Only, in my case, with Jean & Jon...Lending (as proposed) = Giving (in reality) Quote Link to comment Share on other sites More sharing options...
georgeg4 Posted November 14, 2004 Share Posted November 14, 2004 The one where I was a Franciscan Monk harhar.gifis that the time when we werent allowed to speak for ten years ? How's about a Perpetual Novena in lieu of cash? i would actually prefer this in lieu of cash !! Thanks QUOTE (georgeg4 @ Nov 13 2004, 05:23 PM)HI BROTHER devil.gif innocent.gif wink.gif tongue.gif pirate.gif happy71.gif BTW i hope you know i was just kidding i think of you as a good friend ,but i have lost all five of my brothers and i wouldnt want to replace any of them . Quote Link to comment Share on other sites More sharing options...
Guest Paracelsus Posted November 14, 2004 Share Posted November 14, 2004 BTW i hope you know i was just kidding i think of you as a good friend ,but i have lost all five of my brothers and i wouldnt want to replace any of them .Sorry for your loss, George :'(Fortunately, mine are all still around. We argue like cats & dogs at times... But I'd miss them, otherwise.(And Yes... I knew you were just kidding ) Quote Link to comment Share on other sites More sharing options...
Ozidave Posted November 15, 2004 Share Posted November 15, 2004 Reminds me of an Old Jewish Proverb I once read:With Family it is better to give than to lend... It means the same thing and you will never be disappointed by the outcome. Quote Link to comment Share on other sites More sharing options...
Guest Paracelsus Posted November 15, 2004 Share Posted November 15, 2004 Ain't it the Truth!!! Quote Link to comment Share on other sites More sharing options...
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