  Dougw Member Username: Dougw Post Number: 1428 Registered: 11-2003 |
http://freep.com/apps/pbcs.dll/article?AID=/20061117/NEWS06/611170390/1001/NEWS  Hey, I liked the picture.  What would you do with $75 million? | ||
Southen Member Username: Southen Post Number: 26 Registered: 08-2006 |
Purchase and rehab a small building downtown. | ||
Mackinaw Member Username: Mackinaw Post Number: 2216 Registered: 02-2005 |
Great to see an eastsider (from Finney High) strike it rich. Buy some mutual funds, don't spend it all. And please don't move out of Detroit with all that money! | ||
Lowell Board Administrator Username: Lowell Post Number: 3315 Registered: 10-2003 |
See a tax attorney and shelter it as much as possible. So the question is might be, what one do with [?] $50 million? Here how to win on the lottery. 1-Never buy a ticket until the payoff exceeds the odds, somewhere in the 100-200 million jackpot range otherwise it is a sucker bet. 2-Only buy one ticket. That is all it takes to win. 3-Don't look at the winning numbers for a couple of weeks after the drawing. That way you extract the maximum fantasy on how you would spend your winnings. 4-Take all the money you would spend by violating the above principles and follow Mackinaw's advice - invest it in mutual funds. 5-Feel good that you are supporting education in Michigan as opposed to enriching stockholders in Las Vegas. | ||
Tkelly1986 Member Username: Tkelly1986 Post Number: 188 Registered: 01-2004 |
that guy laughing behind her looks like Charlie Murphy.........and I hope she spends it wisely, but what lotto winners do? | ||
Andysrc Member Username: Andysrc Post Number: 135 Registered: 07-2005 |
I never understood the whole thing of not buying a lottery ticket until the jackpot is at $200 million. Because, you know, why would I want to waste a dollar to only win a paltry $5 million. That's hardly worth leaving the house for. | ||
Stryker81 Member Username: Stryker81 Post Number: 8 Registered: 10-2006 |
haha^^^^^ CHARLIE MURPHY!!! Where's Rick James? | ||
Wilus1mj Member Username: Wilus1mj Post Number: 149 Registered: 05-2005 |
I thought that this was a scene for the Dave Chappelle show?? | ||
Viziondetroit Member Username: Viziondetroit Post Number: 935 Registered: 11-2003 |
It's a celebration bytches.... drink and be marry! Welcome to the China Club... a changa chang a changa chang lol | ||
Gistok Member Username: Gistok Post Number: 3101 Registered: 08-2004 |
I agree that she shouldn't move out of Detroit... but she should move!! It can be pretty dangerous if the wrong people know you're into money. And I'm not just saying this because she's in Detroit. Even in the burbs if one came into that much cash, one should move, to avoid unwanted attention or "visitors" asking for money. One has to think about the safety of the family. | ||
Ramcharger Member Username: Ramcharger Post Number: 128 Registered: 05-2006 |
When are lottery winning added to your income, on the day of the drawing or on the day you turn in the ticket and get your check? If it’s the latter and I had won, that ticket would have gone into a safe deposit box until after the first of the year. I would then spend the next six weeks moving out of Detroit. I love Detroit and all, but why pay over a million bucks in taxes that you don’t need to? | ||
1953 Member Username: 1953 Post Number: 1138 Registered: 12-2004 |
I love that the one time a Detrioter wins the lotto, their big thing is that they want to pay DTE...you couldn't script it any better. | ||
Gistok Member Username: Gistok Post Number: 3104 Registered: 08-2004 |
No Ramcharger, she should move into one of the city enterprise or renaissance zones (can't remember which)... and pay no city or state income taxes for 8 1/2 years!! (Message edited by Gistok on November 18, 2006) | ||
Yvette248 Member Username: Yvette248 Post Number: 155 Registered: 10-2006 |
I also found that hysterical, 1953. | ||
Track75 Member Username: Track75 Post Number: 2447 Registered: 10-2003 |
Cool, a feel-good story about someone barely getting by, who's going to use lottery winnings to keep the heat and lights on. OK, keep the utilities on, and the cell phone is probably her only phone.
Wait, she's broke, behind on her utilities, so naturally she heads out to Ikea for a little shopping?!?
Dual income, likes shopping, needs to win the lotto to pay the utilities -- there's a real Detroit story. | ||
Yaktown Member Username: Yaktown Post Number: 50 Registered: 02-2006 |
Had I won that much money (or any lottery jackpot for that matter) I would have chosen to remain anonymous. Don't need every low-life and cretin begging me for moola. | ||
Viziondetroit Member Username: Viziondetroit Post Number: 936 Registered: 11-2003 |
I don't think you have the option to remain anonymous when you win the lotto. | ||
Yaktown Member Username: Yaktown Post Number: 51 Registered: 02-2006 |
Quoting from the Lottery webpage..."July 11, 1988 – The Michigan Legislature passes Public Act 243, enabling Lottery winners of prizes greater than $10,000 to elect anonymity." http://www.michigan.gov/lotter y/0,1607,7-110-29196-4130--,00 .html | ||
Catman_dude Member Username: Catman_dude Post Number: 56 Registered: 03-2006 |
In Virginia, you can't remain anonymous if you win the lottery BUT you do not have to do the press conference if you do not want to. | ||
Pam Member Username: Pam Post Number: 675 Registered: 11-2005 |
I think there are people like this all across America. Hopefully she will learn to budget money correctly before she burns through the 75 mil. | ||
Polaar Member Username: Polaar Post Number: 13 Registered: 10-2006 |
It is very common for multimillion lotto winners to go bankrupt with a few years of winning; some sources say that one third of winners burn through it all rather quickly. I've never been able to really comprehend how this can happen to so much money, but I guess that there are a lot of hidden costs to new houses, vacations, etc. | ||
Mrsjdaniels Member Username: Mrsjdaniels Post Number: 216 Registered: 08-2005 |
if you cant manage $45,000, you cant manager $45 mil...I'ma pray for her | ||
Janesback Member Username: Janesback Post Number: 150 Registered: 08-2006 |
When you hit the lottery your friends and family come out like cockroaches. There are documented cases of relatives hiring "hit" men to knock off the winners to be able to collect for inheritence. There was one man who went broke only after his brother and sister-in-law tried to kill him. Another winners' grandaughter was killed over a drug deal, the killer knowing well that her grandfather was rich from the lottery, demanding payment , and killing her in rage. There was the Houston, Texas bus driver, Loraina Robinson who won 53 million and went broke within 5 years. Her ex husband put out a hit on her, only after she sent her only son, to live with him in Dallas, after constantly being approached and pestered for money from family and friends. While the son was in Dallas, the ex-husband put out a hit on his ex-wife , hoping that his only son would receive her estate. The ex-husbands plan was caught by Tarrant county police on film and he was sentenced to prison. Lorriana has returned to her old job, that as a Houston, Texas transit bus driver.. | ||
_sj_ Member Username: _sj_ Post Number: 1596 Registered: 12-2003 |
There was a family in Michigan who child was kidnapped for ransom from a lottery winner only to find out they spent the 11 million in one short year. Just like the McDs commercial for Monopoly the guy wins 5 million and buys a 5 million dollar house. Now add the taxes, utilities and up-keep and you are on your ass in probably 30 days. Plus a lot of people who like to remain private or even public do not consult with tax attorneys and money managers and forfeit a lot of their winnings. | ||
Smogboy Member Username: Smogboy Post Number: 4023 Registered: 11-2004 |
I HATE the idea that the winner of any mega-lottery has got to show their faces so the Lottery folks can have some PR value. Why can't the winners claim their prizes discretely? I'm all for proving beyond a shadow of a doubt that they are the winners but why the face time? Not only have they put themselves in jeopardy (maybe not physical but just the harrassment) but every relative & close associate of theirs as well. If I were to ever hit the mosnter numbers like this, I'd hole up in my house clutching my winning ticket, grow my hair out until I looked like the fourth member of ZZ Top, claim my winnings and THEN go back to my normal appearance. | ||
Janesback Member Username: Janesback Post Number: 151 Registered: 08-2006 |
sj, heres another sad story.....Jane A Sad but True Texas Lottery Winner Story .... http://www.lottoreport.com/TXW innerSuicide.htm | Nov 24, 2004 Posted on 11/27/2004 4:07:31 AM PST by DirtyHarryY2K A Sad but True Texas Lottery Winner Story Originally Posted: Nov 24, 2004 Revised: ------------------------------ ------------------------------ -------------------- Less than two years after Billie Bob Harrell Jr. took the $31 million lottery jackpot, he took his own life Harrell, a former Pentecostal preacher, was a Home Depot stocker when he hit the jackpot. Billie Bob's (Mis) Fortune BY STEVE MCVICKER Houston Press From the Week of Thursday, February 10, 2000 Many have the same dream: finding the six magical numbers that unlock the treasure known as the Texas Lottery. Then life would be good. Problems would vanish. There are even the collective fantasies of what to buy and with whom to share this new, instant wealth. Billie Bob Harrell Jr. shared those common visions by common souls seeking the salvation of sudden fortune. And in June 1997, he found it. He sat in his easy chair one evening and looked at his Quick Pick and then at the Sunday newspaper. Harrell studied the sequence of numbers again and began to realize the wildest of notions. He and wife Barbara Jean held the only winning ticket to a Lotto Texas jackpot of $31 million. Harrell, a deeply religious man, knew he had a godsend from heaven. After being laid off from a couple of jobs in the past few years, Billie Bob had been reduced to stocking the electrical-supply shelves of a Home Depot in northeast Harris County. He was having a damn hard time providing for himself and Barbara Jean, much less for their three teenage children. Every Wednesday and Saturday those kids were on his mind when he'd scrape together a few spare dollars to purchase a couple or so lottery tickets. Sometimes he'd use the sequence of his children's birth dates to choose his numbers. Other times he'd let the state's computer do his choosing for him. That random selection finally paid off, transforming Harrell into a millionaire overnight on a warm evening in June. The hard times were history when he arrived in Austin about a month later, with an entourage that included his family, his minister and his attorneys, to collect the first of 25 annual checks for $1.24 million. Life had been tough, he said at the formal lottery ceremony, but he had persevered through the worst of it. "I wasn't going to give up," said Harrell, then 47. "Everyone kept telling me it would get better. I didn't realize it would get this much better." In fact, it was great. At least for a while. Harrell purchased a ranch. He bought a half-dozen homes for himself and other family members. He, his wife and all the kids got new automobiles. He made large contributions to his church. If members of the congregation needed help, Billie Bob was there with cash. Then suddenly Harrell discovered that his life was unraveling almost as quickly as it had come together. He relished the role of being an easy touch. But everyone, it seemed -- family, friends, fellow worshipers and strangers -- was putting the touch on him. His spending and his lending spiraled out of control. In February those tensions splintered his already strained marriage. And on May 22, 1999, 20 months after hitting lottery pay dirt, Harrell locked himself inside an upstairs bedroom of his fashionable Kingwood home and stood at the point of no return. Investigators say he stripped away his clothes, pressed a shotgun barrel against his chest and fired. Billie Bob Harrell was gone forever. So was the fortune, and even the family that had rejoiced with him when the shower of riches had first rained upon them. A schism has widened between the children and grandparents, who cannot even agree on whether Billie Bob took his own life. And an intrafamily war looms over the remnants of the fortune, which may not even be enough to pay estate taxes. Perhaps the only thing not in dispute about his life and death is the jarring impact of money: It may not have caused his problems, but it certainly didn't solve them. Shortly before his death, Harrell confided to a financial adviser: "Winning the lottery is the worst thing that ever happened to me." ------------------------------ ------------------------------ -------------------- | ||
Pffft Member Username: Pffft Post Number: 1119 Registered: 12-2003 |
In Loretta's defense (partly), do you know how much it costs to heat a big, drafty Detroit house? Hundreds more than a well-insulated suburban ranch ... | ||
Lilpup Member Username: Lilpup Post Number: 1482 Registered: 06-2004 |
I've wondered about this in the past - what can/should be done before claiming a huge lottery prize other than deciding on lump sum vs. annuity? It seems like everything else has to be set up after claiming the prize. |
