- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
$324 million California Lottery winner steps forward
Posted on 1/3/14 at 4:28 pm
Posted on 1/3/14 at 4:28 pm
quote:
A delivery driver from Northern California rang in the New Year by walking into the California Lottery headquarters in Sacramento with a ticket worth $324 million.
The California Lottery identified the winner as Steve Tran, who has chosen to take his winnings in one lump sum and will receive $173.8 million before federal taxes.
LINK
quote:
Tran told lottery officials that after learning he had the winning ticket, he made a call to his boss: "I'm really sorry boss. I hit the jackpot. I don't think I'm going to come in today, tomorrow, or ever."
If history is any indication, it does not bode well that this guy quit his day job so soon after winning the lottery.
12
Posted on 1/3/14 at 4:32 pm to stendulkar
quote:
If history is any indication, it does not bode well that this guy quit his day job so soon after winning the lottery.
huh?
Posted on 1/3/14 at 4:33 pm to stendulkar
Dead by Monday
Posted on 1/3/14 at 4:35 pm to DeathValley85
Something like 80% of lottery winners are broke and bankrupt within 5 years of winning.
Especially those that think they can live off the principal for the rest of their life.
Especially those that think they can live off the principal for the rest of their life.
Posted on 1/3/14 at 4:36 pm to stendulkar
quote:
If history is any indication, it does not bode well that this guy quit his day job so soon after winning the lottery.
Wat? Would it make more sense to wait a week to quit?
Posted on 1/3/14 at 4:37 pm to DeathValley85
quote:
huh?
Some people are just bad with money. I'd never quit my day job if I won the lottery. Even if I did, it would be after ensuring my family is taken care of and I have an annuity to support me for the rest of my life. This guy is probably going to lose all the money in less than 10 years. It has happened to a majority of the lottery winners. They say in hindsight that winning the lottery was more of a curse and that they would have been better off if then had never won. There are many articles written on this subject.
ETA:
Suggested reading for those who think their life is set just because they won the lottery:
Why Lottery Winners Go Bankrupt
A Lottery Winner Dying Broke Isn't News. But The Way This Guy Blew His Fortune Is Especially Shocking
19 Lottery Winners Who Blew It All
How One Lottery Winner Blew Through $10 Million in Less Than 10 Years
This post was edited on 1/3/14 at 4:45 pm
Posted on 1/3/14 at 4:38 pm to stendulkar
quote:
If history is any indication, it does not bode well that this guy quit his day job so soon after winning the lottery.
So if someone handed you 180 mil you'd go into the work the next day? yeah ok
Posted on 1/3/14 at 4:38 pm to TampaBayTiger
As long as this person goes and sees an advisor, he could still be fine. with 85 million post tax, you can live off interest if you are half smart.
Posted on 1/3/14 at 4:38 pm to stendulkar
I don't know any snarky Vietnamese stereotypes to apply to this fella.
Posted on 1/3/14 at 4:38 pm to wildtigercat93
quote:
Wat? Would it make more sense to wait a week to quit?
Two weeks notice bro.... Unless you need to cash a Christmas bonus check.
Posted on 1/3/14 at 4:39 pm to stendulkar
I'd quit asap as well. You can live off all that with interest alone. Heck I'm a simple fella I could live on principal.
Posted on 1/3/14 at 4:39 pm to stendulkar
People need to fish and be happy if they hit it big.
150 million in the bank and I hope I'd be smart enough just to enjoy some non life ending hobbies.
150 million in the bank and I hope I'd be smart enough just to enjoy some non life ending hobbies.
Posted on 1/3/14 at 4:39 pm to TampaBayTiger
quote:
Especially those that think they can live off the principal for the rest of their life.
quote:
in one lump sum and will receive $173.8 million before federal taxes.
After taxes that's like $100 million, you telling me he can't live off that???
Posted on 1/3/14 at 4:39 pm to wildtigercat93
quote:
Wat? Would it make more sense to wait a week to quit?
He's taking the risk of his boss giving him a bad reference for the lack of two week notice.
In seriousness, I guess the "criticism" is that he's making poor personal decisions by megaphoning it that he's a lottery winner but 100 million plus is awfully hard to blow, no matter how bad you may be with money.
Posted on 1/3/14 at 4:40 pm to stendulkar
quote:yeah, because that extra 27,5 a year he makes driving a van would make a huge difference.
If history is any indication, it does not bode well that this guy quit his day job so soon after winning the lottery.
Posted on 1/3/14 at 4:41 pm to stendulkar
He'd have lifetime supply of Pho
Posted on 1/3/14 at 4:41 pm to stendulkar
I wouldnt even put in a notice, I'd just stop showing up to work
I'd literally have zero fricks to give with 100 mil in the bank
I'd literally have zero fricks to give with 100 mil in the bank
Posted on 1/3/14 at 4:41 pm to SouthOfSouth
quote:
As long as this person goes and sees an advisor, he could still be fine. with 85 million post tax, you can live off interest if you are half smart.
Of course this makes sense to someone who has some financial sense. However, its sort of a catch 22, because people with financial sense don't buy lottery tickets. Ere-go, people who buy lottery tickets usually have poor financial sense, and will subsequently squander the new wealth in destructive ways.
Posted on 1/3/14 at 4:44 pm to MiloDanglers
Just think...
You can play around with 60 million and just put 20 million in 30 year bonds at 3.9% and you are making 780,000 a year... I just don't understand how people just waste it all away.
You can play around with 60 million and just put 20 million in 30 year bonds at 3.9% and you are making 780,000 a year... I just don't understand how people just waste it all away.
Posted on 1/3/14 at 4:48 pm to SouthOfSouth
I would do everything in my power to not let anyone know
I know it's difficult, I'd have to minimize my exposure.
I would feel very uncomfortable with the world knowing I just came into that kind of money
I know it's difficult, I'd have to minimize my exposure.
I would feel very uncomfortable with the world knowing I just came into that kind of money
Page 1 of 3
Popular
Back to top
Follow TigerDroppings for LSU Football News