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Started By
Message
re: 2012 won $5K a week for life, now he's losing everything including his home
Posted on 9/6/25 at 4:21 pm to TigerintheNO
Posted on 9/6/25 at 4:21 pm to TigerintheNO
Sucks, but how on earth do you get $260k per year for 13 years and you still owe on your house?
3
Posted on 9/6/25 at 4:23 pm to TigerintheNO
fricking Ed McMahon!!!!
Posted on 9/6/25 at 4:25 pm to jbgleason
quote:
I always assumed PCH had some annuity set up that provided the yearly payments for this
Even if they set it up in some sort of annuity or trust, that doesn’t necessarily mean it’s not subject to the claims of creditors.
Posted on 9/6/25 at 4:48 pm to TigerintheNO
He had a structured settlement, but he needs cash now. 
Posted on 9/6/25 at 4:51 pm to dcrews
quote:
Sucks, but how on earth do you get $260k per year for 13 years and you still owe on your house?
Hookers and blow
Posted on 9/6/25 at 5:06 pm to TigerintheNO
If I got $260K for 12 years, I am betting I would have a million dollars saved by the time the money dried up.
Posted on 9/6/25 at 5:16 pm to Eighteen
quote:
thought almost everyone says to to take the lump sum for this exact reason (lottery jackpots, any sweepstakes prizes from companies, etc.)
This.
If you won the 1.8 bn powerball you’d take home about 500 million after taxes if you take lump sum. Invest that and if you get a 10% annual return you’d have earned 2 billion in 30 years. And that’s if you spent the 50 million each year instead of reinvesting some of the earnings. Let half the earnings reinvest and compound and you’ll end up with more than with the annuity. Of course you could invest a large portion of the annuity payments and probably come out with more in the end but there’s also the other risks,
Take lump sum
Posted on 9/6/25 at 5:21 pm to southernelite
quote:
You have no idea how lottery winners/lawsuit winners think and act.
Biggest mistake they make is buying expensive toys and real estate without considering the annual maintenance, taxes, etc of that stuff. It’s ok to buy it, but you should invest at least 50% of the sum so the earnings cover the expenses taxes and maintenance of anything nice you buy. Example: 20 million yacht. Sounds awesome, but take into account upkeep, fuel, and paying a crew to operate it. Same with a private jet. Or vacation homes.
And don’t give money to friends and relatives. I can understand helping parents/ your kids/ siblings. But extended family or friends? Nah.
Posted on 9/6/25 at 5:37 pm to Spankum
The last 12 years have been an amazing time to be DCA’ing into basically any asset and getting rich. He should have millions.
Posted on 9/6/25 at 5:40 pm to TigerintheNO
He’s lucky PCH didn’t just Clinton him to end the checks.
Posted on 9/6/25 at 5:42 pm to Bestbank Tiger
quote:
On the other, give me $260k every January for 12 years and I'll be in very good financial shape when the 13th check doesn't arrive.
You’re full of shite, if you’re expecting that sum of money every year, you would adjust your spending/lifestyle to anticipated income
Posted on 9/6/25 at 5:52 pm to HoustonGumbeauxGuy
I’d spend more money but I guarantee you I’d be good to go for the rest of my life by now. Some people are just savers by nature.
Posted on 9/6/25 at 6:27 pm to TigerintheNO
Do you think he could have gotten a lump sum payout from some outfit using like $1k week for life based on avg male (assuming) life expectancy;at winning time? Or would those outfits look a PCH and say that aren't good for it the way their bank account is setup?
Posted on 9/6/25 at 6:46 pm to TigerintheNO
This is why you take the lump sum if you win the powerball!!
Posted on 9/6/25 at 6:50 pm to TigerintheNO
Am I supposed to feel bad for a guy who made $260k/year for a decade and apparently doesn't have any savings?
This post was edited on 9/6/25 at 6:51 pm
Posted on 9/6/25 at 7:05 pm to SallysHuman
quote:
That's a long enough run I wouldn't blame a man for considering it guaranteed income. It certainly wasn't a short time scheme.
People make investments to ensure an income stream... his income stream was already assured.
Ford has also been around forever and pays a good dividend. That doesn’t mean it’s a good idea to put all your money in Ford. Diversify.
quote:
his income stream was already assured
Obviously not.
Posted on 9/6/25 at 7:08 pm to Volvagia
quote:
Obviously not.
72yrs is a pretty good run, hon.
Posted on 9/6/25 at 7:14 pm to SallysHuman
Yeah it is but I tell you I had safely assumed I was going to get into my 80s healthy and mobile and fricking pardon the language ma'am....six years ago... boobs
a mans entitled to what he's owned
#marica
seriously
a mans entitled to what he's owned
#marica
seriously
Posted on 9/6/25 at 7:21 pm to TigerintheNO
He got 260,000 for free every single year, and had absolutely nothing to show for it after 13 years
It sucks that he doesn't get the money that he was entitled to, but talk about fiscal irresponsibility it's hard to feel too bad for him
It sucks that he doesn't get the money that he was entitled to, but talk about fiscal irresponsibility it's hard to feel too bad for him
Posted on 9/6/25 at 7:28 pm to TigerintheNO
60% of $260k is $156,000. I assume that's after taxes? Either way, I am just going to stick with $260k. Live off of $156,000 a year, put the rest in some type of mutual fund just because.. Nothing is guaranteed. After 13 years of putting in $104k a year that would be what? At least $1.75M. I don't think I feel bad for him. Live based off of what you get per year not what you going to get for years to come.
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