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Posted on 10/06/2025 5:45:55 AM PDT by V_TWIN
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Sounds like he would have blown through the money pretty fast and now it goes for hospital bills
A million dollars sounds like a lot more than it is these days.
Yours is the best advice. Invest it and use it as a cushion, but don’t plan on living off it. People don’t realize how fast you can blow through that kind of money these days.
“now it goes for hospital bills”
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Great Britain means socialized medical system aka national Healthcare.......heck I’m surprised an ambulance actually picked him up!
Money is the biggest curse for anyone who is addicted to drugs or alcohol or who views "nonstop partying" as an acceptable course of action. Look at Whitney Houston or Matthew Perry. They had enough money to insulate themselves from the consequences of nonstop partying until they died. Hopefully this really is a wake up call for this guy. He still has money, so I guess we'll see.
I’d setup a hobby center for geeks. A maker space.
Exactly!
Find an advisor that will make money when you make money. He is paid a small percentage of the assets under amanagement.
No commission sale churners.
Becoming a millionaire in the USA is not super difficult, but it takes discipline and time. “The Millionaire Next Door” series lay it all out.
They are a good way for most people to become financially independent.
The Dave Ramsey system works pretty well for people who follow it.
In essence: Live below your means. Save and invest wisely. Let compound interest work for you. Own your own home and pay it off early. Work at increasing your income by being more productive and filling other’s needs.
Don’t try to satisfy your psychological wants through extravagant spending. Great satisfaction can be achieved with relatively low expenditure.
Yeah it’s all about discipline.....the world is full of people and things that have no other purpose than to separate people from their hard earned money.
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I remember a bumper sticker back in the 80s that went “He who dies with the most toys wins”......I know it was just supposed to be humor but a lot of people kinda went in for that philosophy....I thought that was total BS then, and I still think it is.......money.......AIN’T IT.
“… after months of nonstop partying …”
.
Yeah - life is like that…
His Maserati does 185.
.
In 1969 my parents bought a house in Voorhees, New Jersey for $20,000.
It’s value allegedly peaked in 2006 at $360,000. Some neighbors were offered > $450K (by fools, of course).
They should have sold then, instead of taking on a reverse mortgage -
which was financially disastrous for their children’s inheritance.
(We inherited potential debt and tax liabilities - lots - so not the house…)
Voorhees, NJ - from corn, tomato and peach farmland in 1969 to home of many
athletes from Philadelphia professional sports teams in the 1990s.
But for the record, our folks provided us with a stable home and Christian upbringing and lots of love.
They gave us more than most folks get these days.
If he takes it as a lump sum, the $$ will be gone in a year, if he takes payments, he’ll be broke between payments.
I just had this conversation with my son. I told him that our net worth just crossed the million dollar point. He was impressed because we have always been very frugal.
I reminded him that there are millions of people in the US with a million dollars in the bank. It’s not nearly what it seems.
I’ve never played the lottery but if I did and won big, step one would be to put in in a trust and pay myself a healthy stipend. That way when leeches come calling, “I’m sorry, the trust controls the money and I don’t have unfettered access to it.”
Exactly, but not for me. I would set up a method structuring the prize money as co-owned with my children. Save enough out for my in my dotage..which is now... and blend work with travel and a better State to live in. 100% Red preferably, likely in the West or the plains. Vacation bungalow in a resort in AZ, a newer car and put the money where it won’t be accessible.
That is for a Lotto of course, with a million dollar amount, do all the above without splitting with my kids. They can wait until I am dead...lol
100% me. I have a friendly relative who is set up with a great retirement, where He and his wife pull in $10k a month. Their housing costs are about $7,500 a year. They travel around in their new car, and visit people or go to oceanside Hotel/Motels for the weekend. Sounds like a great life to me. I am doing the same thing, only my retirement is about $2,500 a month. I don’t get to travel freely, but can go out to dinner a couple times a month.
I am very disciplined. I can set a budget and stick to it. The trick is setting a limit and never going past it without budgetting how to pay it back to yourself. The bill is due on next months allowance. 72 years of practice.
I have a half-mil or so in the retirement fund but basically, I just live off the SS distribution each month. I'm now to the point of IRS required minimum disbursements. After paying the tax, the remainder goes into the checking account. My Wells Fargo guy keeps things balanced and humming along.
I am the odd duck - not a miser, per se, but I have no compulsion to buy a new this or that; I have only the mandatory living expenses. There is the occasional extra expense (new roof, needed extensive landscaping) but those are one-time things.
If every American was like me, the economy would tank big time.
lol Long lost relatives; ‘friends’ you haven’t seen in ages - or ever.
WHAT KIND OF “SERVICES” ARE YOU REFERRING TO???
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