$50,000 Lottery winner- NOT so happy

fuzzybuddy

fuzzybuddy

SF VIP
Location
The Sticks, Northeast PA.
In the 70s, my cousin and her husband won the R.I. State Lottery-$50,000. One of the first super big money payouts at the time. They had their picture taken with the big cardboard check (only $36,000 after taxes). Their phone # and address was in the phone book. They had to get an unlisted phone, but they just bought their home. People were knocking on their door 24 hours a day. And people got angry if they didn't get any money. The cops were frequently called. What they hated was when parents showed up with their dying kids, asking for money. That went on for a year. My cousin splurged $2,000 for an inground swimming pool (hey this was the 70s) and put the rest for retirement.
If you win the lottery- SHUT UP AND SEE A LAWYER.
 

I read one time a suggestion that if you hit a significant lottery win, that you should not return to your home, instead set up residence somewhere secluded and call to have your belongings collected up and stored. Also, your job is taboo, and don't contact family or friends- instead hire a legal firm and accounting professional.

Last but not least: enjoy your winnings!!!

ROFL.gif
 
Same with a lawsuit settlement or inheritance. SHUT UP.

But sometimes publicity is inevitable. Back in the 50s the mother of a schoolmate won the Pillsbury Bake Off. $25,000 (About $206,000 now). Small town, lots of excitement. But the family was well off anyway.
 

Amazing how the mere whiff of money brings 'em out of the woodwork.

My late grandmother's caregiver was pretty much ignored by her children until it looked like she was going to get some money from a settlement and BAM! they were fighting over who she was going to live with...."Oh, Mom, I can't stand for you to be taking care of an old lady; come live with us"...."No, we'd love to have you come live with us!"...."No, we asked first!".....and so on until she gave in and went to live with one of them.

Then the settlement fell though and *surprisingly* enough, she was practically out on the streets in days. And, her job was gone. We had put Granny's house on the market and moved her closer to us.
 
$50k although substantial today, and much more so in the 70's of course...would not be too much of a life changing amount of money for many people unless they are very poor ...certainly not one which would allow anyone to give up their job.

Not that it would be an amount any one of us would refuse I'm sure....and certainly not in the UK where winning the lottery or any cash prize means you get to keep it all..no taxes to pay on it...

So, let's pretend that the lottery fairy knocks on your door tomorrow with 50k...in actual reality what would you spend it on? :)
 
Just as a cushion....a supplement of sorts. Then whenever I wanted or needed something not in my budget I wouldn't worry about it.

(My funeral/burial expenses are already taken care of)
 
I'd send a bundle divided up to a bunch of rescue charities, create a trust for a few of my kids and tell two of them to go to Hell, then move the dickens out of town as fast as we could. I like the Scrooge McDuck money vault idea. Save the rest and go in and go "Whooopeeee!" once in awhile.
 
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