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Message
re: 2012 won $5K a week for life, now he's losing everything including his home
Posted on 9/6/25 at 7:29 pm to Oates Mustache
Posted on 9/6/25 at 7:29 pm to Oates Mustache
quote:
Ed McMahon!
When he went bankrupt it should have been a sign
0
Posted on 9/6/25 at 7:30 pm to SallysHuman
quote:
72yrs is a pretty good run, hon.
122 years is even better.
So you should put your entire nest egg in Ford for assured income right?
Posted on 9/6/25 at 7:30 pm to TigerintheNO
quote:
With bills piling up, he’s sold off big-ticket items like a jet ski and trailer, but still expects to lose his home.
Posted on 9/6/25 at 7:30 pm to OldmanBeasley
quote:
To be fair, if he took the lump some he would probably have blown it years ago.
Yeah but he could have had like 12 blowed out jet skis to sell
Posted on 9/6/25 at 7:33 pm to Pedro
I would continue working but doing what I want.
Posted on 9/6/25 at 7:36 pm to deltaland
quote:
10% annual return
That’s a falacy find me a guaranteed way to do that I’ll dump $500k tomorrow into that account.
Posted on 9/6/25 at 8:06 pm to Oates Mustache
quote:
That damn Ed McMahon!
Fun fact: Ed McMahon did not deliver checks for Publishers Clearinghouse.
He did it for American Family Publishers. They ceased operations in 1999.
Posted on 9/6/25 at 8:32 pm to Tarps99
quote:
Fun fact: Ed McMahon did not deliver checks for Publishers Clearinghouse.
He did it for American Family Publishers. They ceased operations in 1999.
That's the joke. It's a Berenstein Bear thing.
Posted on 9/7/25 at 5:59 am to TigerintheNO
That’s why you always take the lump sum.
Posted on 9/7/25 at 6:23 am to Bestbank Tiger
quote:
money. 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.
He is the prime example of people who make money but have no money.
That unfortunately how most people live. It’s really staggering how much money these people blow. They don’t understand buying these properties is not always in their best interest.
They managed a normal life and now they want to try to manage all this property and cash etc. It takes legitimate work and work that requires knowledge these people simply don’t have.
This is why they don’t teach any useful finance in high school. All the money ends back up in the pot.
Posted on 9/7/25 at 7:05 am to TigerintheNO
I don’t feel sorry for someone mismanaging money like that
Posted on 9/7/25 at 9:30 am to dcrews
he bought 6 acres in Bellingham, that's a few million
Posted on 9/7/25 at 9:31 am to TigerintheNO
What an idiot.
Posted on 9/7/25 at 10:00 am to shutterspeed
quote:
collecting an annual check instead of the lump sum payment.
Always take the lump sum and control your investments.
Posted on 9/7/25 at 10:03 am to bayoudude
quote:
That’s a falacy find me a guaranteed way to do that I’ll dump $500k tomorrow into that account.
Doesnt the S&P average this over a long period and you could track that in an ETF.
Posted on 9/7/25 at 10:17 am to TigerintheNO
quote:
PCH had filed for bankruptcy without warning him or other winners.
Frankly, I’m surprised they’ve lasted this long. I remember Publishers Clearing House from when I was a kid. They sold magazine subscriptions. How many people do you know who still subscribe to a magazine?
Posted on 9/7/25 at 10:18 am to TigerintheNO
quote:
2012 won $5K a week for life, now he's losing everything including his home
Well, he's retarded for not having his home already paid off.
Posted on 9/7/25 at 11:58 am to TigerintheNO
Get a job like everybody else has to
Posted on 9/7/25 at 12:11 pm to TigerintheNO
I have no sympathy for this guy. He should have kept working and banked most of that dough for a real retirement.
Posted on 9/7/25 at 1:33 pm to SallysHuman
quote:
People make investments to ensure an income stream... his income stream was already assured.
Most people make investments to build wealth. Once they have built that wealth, they can allocate funds like high yield dividend stocks, real estate or annuities that provide an income streams. Not investing some of that money and pre-paying your mortgage is flat out stupid whether the payments were to continue or not.
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