Posted on 01/08/2005 11:57:45 AM PST by Drew68
Having piles of cash only compounds problems for some people. Here are sad tales
of foolishness, hit men, greedy relatives and dreams dashed.
By 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 stamps
William "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.
(Excerpt) Read more at moneycentral.msn.com ...
I don't play the lottery. I could never win. I know myself and my weaknesses all too well. I'd be dead in a month. They'd find me in the executive suite of a five star hotel, head buried "Scarface" style in a mountain of cocaine and a half dozen $10,000/night callgirls going through my wallet and pilfering my jewelry.
Of course, there are worse ways to go.
LOL!!!
Most of these idiots ever heard of investing.
The idea is you never touch your winnings. Only the interest.
To lose a fortune once is well..um unfortunate...to lose one twice, is downright careless.
Oh, I'd flee! I'd give my immediate family (parents, brothers) a modest but not extravagant one-time only payment and I would be sooo gone! Nobody would be able to find me!
From reading these stories it looks like generosity to family and friends was the main downfall.
Money can't buy happiness...
but it can sure make the down payment!
I play once in a while for fun. The way I think of it is that I pay $5 for up to three days' worth of the BEST fantasies in the world. It's better value than a movie at ten bucks a pop!
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