SLUMDOG MILLIONAIRE - DILAPIDATED DIGS OF $232M LOTTO COWBOY

nypost.com ^ | June 7, 2009 | LACHLAN CARTWRIGHT

[Free ThinkerNY]

MISSION, SD -- That's a lotto junk!

Here's a peek at the "palatial" digs where newly-minted $232 million lot tery winner Neal Wan less hangs his cowboy hat at night.

Scrap metal, refrig erators and a mess of tables, lawn chairs and tires litter the grounds in front of the ramshackle trailer where the once-im poverished cowpoke lives with mom Nancy and dad Arlen.

Sheep, geese and ducks run freely on the grounds of the 320-acre ranch in this rural town of 900 where the aver age annual income is about $7,500.

The Wanless family's mobile home, standing behind a wooden gate with family members' names carved in it, is so cramped that they use three broken-down cars as storage space for clothes.

[cranked]

Given he has a check in hand worth $88+ million, he has far more than “his own ferris wheel”...

I am happy for the man; at least the money went to someone who truly needed it. God Bless him and I pray he uses the money wisely.

[gaijin]

If the winner had been black or an Indian immigrant or something, they would not have shown photos of their place. They would have spoken of their modest digs, but no photos, not in a million years.

They did this cuz they were white, rural, and poor. And because the home was a trailer, so it fits a template and provides an opporunity to feed a morbid fascination.

[Richard Kimball]

The 23-year-old winner, who stands to pocket a cool $88.5 million after taxes, is talking about giving back to his hometown.

Doncha love the government? He gets to keep a third of it all to himself!

[bfree]

jealous?

[Yossarian]

With the rest, I'd probably travel around and help people with small problems. Imagine what you could do with a well placed couple thousand dollars.

Your intentions are great. However, consider these possibilities:

• How are you going to feel when people are ungrateful? (It would happen a large percentage of the time.);
• Many (not all) people who are in trouble get there because of inherit traits. What will you do when many of them are STILL in trouble after you help them out the first time? You'll know they'll come back to you for more bailouts;
• What's going to happen if/when you become known for helping people out? You'll get deluged by hard-luck stories, with 95% of them being bogus to one degree or another;
• What would this do to yourself, your personality - being the person who might - OR MIGHT NOT - turn someone's life around merely by a flick of your wallet?

Now, I'm not saying you couldn't handle this, nor that the above items are guaranteed to happen. It's just that nothing powerful - even giving away money - is easy.

[kalee]

My husband and I often talk about the elaborate things we would do for others if we won, but we always conclude with...but I guess to win one has to buy a ticket. LOL

[ImpBill]

Having retired to Texas from South Dakota I can just about guarantee the Cowboys there are as conservative as one gets. They are also very self sufficient, never sticking their hands out for help but to give it.

I was so pleased to hear that this young man won that prize and expect he will cowboy on for the rest of his days.

[mysterio]

All of your points are valid.

My best bet would be to walk the earth and help people randomly and most likely anonymously.

Yes, it would cause problems, but can you imagine being able to do something like that?

If I'm totally honest with myself, I can admit that I probably don't need money to help others. But it would be neat to have that kind of money to help others with.

[Tammy8]

I probably understand these people better than most. Notice they own land, looks to me like they were trying to build a ranch from scratch- which means putting all your money into the land, cattle, horses- not houses and material things, that can come later. With the price of real estate, cattle, and feed building a ranch from little or nothing has been a near impossible task for many years. It requires a great sacrifice. Most ranchers today have inherited their ranch from many generations of family that struggled before them to get where they are- this is how it begins when you have a dream and little money. In our circle it is known as living like coyotes to get a ranch started- many have done this and as the years pass they are able to live better and better and pass something to be proud of on to their children and grandchildren.

I saw an interview with this young man and he plans to buy more land with the money, and improve and enlarge the ranch they have. I wish him and his family the best. I wish people weren’t always so quick to judge people without knowing more. There is a lot to the old saying about walking a mile in another’s shoes or boots as the case may be. I hope this young man continues to follow the path he was already on- and uses this money to make the dreams he has come true instead of chasing after glitz and glamour which is what ruins many lottery winners.

[mnehring]

Maybe he's happy living there.

From what I understand, he is a real life cowboy (at least as close as you find now..) I bet a lot of FReepers would love to live that life, even with the sparse digs.

[Gay State Conservative]

jealous?

Perhaps a bit.But that doesn't mean I'm wrong.Do some research on people who win big jackpots and you'll find that among those who were,let's say,less than middle class you'll find that a substantial percentage wind up bankrupt.Their lack of fiscal sophistication causes them to be scammed (by friends *and* strangers) and to just blow it on stupid stuff.

[Richard Kimball]

FWIW, over half of all lottery winners go bankrupt. Basically, if you’re not smart enough to make it, you’re usually not smart enough to keep it. When most people get a windfall of money like this, they look at it as an endless big ole bucket o money that they can scoop out of forever. Professional athletes and actors and actresses also frequently have these problems, as the careers tend to be short and the skills required to be an athlete or thespian have little to do with the skills required to manage money.

[The Great RJ]

At least in South Dakota there is NO state income tax to take an additional whack out of his winnings.

[blam]

I think that at some point in this guys life he’ll look back and claim that those pre-lottery win days were the best of his life.

[madison10]

The guy obviously needs the money. He didn’t turn to the trailer AFTER winning the lotto. He was literally at the bottom of the barrel.

[johnnycap]

Sure I’d let the government take their two thirds. But then, I would find a country, island or whatever where I was out of reach of governments that tax like that and wouldn’t look back. The current state of taxation in this nation is completely out of hand.

[Hot Tabasco]

I guarantee that this guy will be in bankruptcy court within 5 years of having deposited his check.

I say you're wrong. But having said that, big deal, he had fun with the money. What's the worse that can happen, ending up in a little ole trailer out in the country with a ferris wheel in the front yard?

[antiRepublicrat]

I have known quite a few upper-middle class professionals who lived in trailers for years. They bought land and lived in the trailer as they slowly built their dream home.

[baltoga]

Quite possible, but the challenge for this young cowboy is where to get good advice. Personally, I would recommend the following:

- Start off with $232 million
- Cash out assuming $120 million
- Uncle Sam takes $60 million leaving you with a half.
- Donate $30 million to various charities leaving you again with a half of a half.
- Set aside $15 million as family trust and to cover attorny/accountant fees. Stipulate what family members have to do to cash in (that should be fun)
- You’re now down to $15 million so invest $7.5 million ROTH IRA. Retirement taken care of.
- Create your own trust of $7.5 million and live off the yearly payouts.

[Neidermeyer]

I thought that was the life style the left wants ALL of us to live.
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Reminiscent of the movie “AMERICATHON” ,,, we’re heading that way with no drilling for oil and living out of cars...the Chinese will own us instead of the Indian chief that made sneakers...