Me. 63. High school dropout Laborer all my life. Retired House paid off. No debt at all Money in the bank. I make $48k a year. Never done drugs Life is good.
No one ever changes, they just become more of they really always were. It a saying someone told me once 😅 I don't actually believe it but I think it a neat saying lol
That's me except I don't sell meth I sell coke and crack I can tell stories for days of all the people who got inheritances and gave me all their money and I used it to buy gold bars and bitcoin all of which is put away, for my future! :D
I won 64 million in 2012. I just have a personal rule to never spend over 1 million a year. No investments or nonsense extravagant spending; I just live modestly and drive my Toyota. I’m not business savvy and not interested in being manipulated.
@@jamoo0 I bought 4 tickets every single Friday with numbers I chose for over 14 years until I finally won. Funny thing is, even after I won; I still continued the same Friday routine. I still work and live my life like before I won. I just so happen to have more money I’m allowed to spend every year.
If an non risk investment gives you about 30K a year per million, with 27 millions you get about $800K a year, $65K a month. That's pretty good money to have a decent life.
That's not true. How do you plan to "manage $1000 when rent is $2000? How many months can you pay rent on that budget? One million on the other hand will pay your rent for several years. Or better yet buy you a business
Well, yes, maybe. My mamacita 👵🏻 was brilliant at handling small amounts of money 💵 but when it came to unexpectedly large sums 💰 💰 💰 she could make the most cretinous decisions like ‘lending it to friends and family who vanished along with the 💵 + 💰. She wanted to reverse mortgage her home. We were horrified as we could see her becoming homeless and one of us would have to take her in. Another time she didn’t like the idea of selling her home 🏠 to my friend because she didn’t like his morals. See what I mean? Some people are penny wise and pound £ foolish (or cent 🪙 wise and 💵 foolish).
But you could live off a billion thou. I mean realistic a billion is a crazy amount even with drugs or gambling a normal person shouldn't be able blow throu a billion in a life time 😅. Also to the person who commented rent being 2k ... like a month? Even then that be pretty high depending on the size of the place but if that's a week like where do you even live 😂
More money more problems, the majority of people lose it all thinking it won't happen to them. So far you or I haven't had a chance to experience this phenomenon.
I mean, what do expect from an addict? If he could or wanted to make just ONE good decision in his life, it should’ve been to get help with his addiction but he CHOSE not to. Not even for his own daughter.
*I mean, what do you expect from a consumer? Consumers are destroyers.......Our society villianizes the producers and is rittled with consumers. Consumers are wealth destroyers and producers are wealth creators.....
Lo I was thinking the same thing. $27 million. Isn’t Elon Musk wealthy. Why would he need a private jet, multiple expensive houses, an $80,000 watch and several luxury cars? I guess I will never understand that level of just blowing money. 🤷♀️
Back then there were no flat screens in the U.S. Only those with wealth and/or power could acquire them from Japan and they were extremely costly. I had a friend who paid 18 grand for one back then. I'm assuming this guy's was just bigger.
*That’s why Dave Ramsey says “Lottery winners lose their money because the exact same person who wins the lottery, is the type of person who plays the lottery.” Meaning that’s people who spend money on B.S. don’t suddenly become disciplined with more money.*
That's true, but there has to be some lottery winners that make good investments after winning, even if they didn't do so beforehand. There has to be. I would like to think that at least one person, made wise choices.
True! 27 million is life changing still. He could have owned business, buy real estate. Invest, go on vacations and do whatever he likes. But he chose the high life haha
With that kind of money , how the hell did he get in credit card debt ? Mismanagement of funds is catastrophic. This is why school's have to teach money management and discipline !
He didn't have to invest a cent. Just put the money in the bank gathering interest and live on a reasonable budget. He would not have to worry about money the rest of his life.
Well stated. With 27 Million (AFTER TAXES) he didn't have to invest a dime. The interest on that amount would've easily brought him in over 1 Million dollars annually
He had 27 Million, that's more than some folks who are considered rich. The interest on his money would've been over $80,000 per month. Most people can live comfortably on less than $10,000 per month. What kinda lifestyle do you think all rich folks are living?
@cliffordhill2365 if you are bringing in millions per month you can definitely live large 10 thousand 🤣🤣thats what the Maintenance on certain mansions cost monthly
My mom inherited over 100k in May 2022 when my grandma passed away. It’s all gone now, squandered at the casino. She complains all the time she’s so broke, but I pay all her bills so she only needs food ( I know very expensive now). She would gamble every dollar she could get her hands on if she could. Stay close to God and true family. If my mom asks me for money I’m going to tell I gambled all of mine. Never again, no more handouts for her hot checks.
What they don’t realize is all those luxury items have maintenance.If your not making six figures a year the property tax and maintenance plus monthly insurance and other stuff that comes with it will drain your account fast.
That’s my plan too. Keep $2mil, fix house and pay off all bills and put the rest into a high yield savings account that’s locked for 5 years and live off of the interest alone.
Who wastes money on luxury cars? I wouldn't. A $200,000 car will take me to the same places as a $20,000 car. That's like buying a $25,000 t-shirt. I still have $2 tank tops from Walmart that I bought 4 years ago, and they're still in perfect condition.
Exactly, in fact why even have a car? I'd just buy the cheapest bike Walmart has and peddle around everywhere I go!! Rich people and their cars, BAH! Don't make me laugh.
YEP and I bet you don't buy loto tickets. I get compliments on two short sleeved shirts i wear. One was from Walmart, the the other from a 2 hand store aka Value Village. i am easy to fit, though.. just one size bigger than medium
1) TELL NOBODY! 2) Hire a Lawyer. 3) Hire a Financial Advisor. 4) Do precisely what your Lawyer and Financial Advisor tells you to do. Exactly how they tell you to do it.
Imagine having that kind of money and still using credit cards and getting mortgages. He could have invested 1/4 of his winnings in dividend paying index funds and blown the rest and he'd still live a prosperous life off the dividends.
@@herbescobar2974you could probably pick random blue chip stocks and get a good enough return . credit cards are good if you pay them off on time. if you go into debt thats a different story.
think the long term avg on the share market is 5-6%. hell you can get government bonds for approx 4% easily enough to live off with the kind of amounts won in the video. even if you win about 1mil you would make more in passive income than some people do from their jobs. ofc you wouldnt retire off that though.
I remember seeing him profiled on lottery winner videos when he still had his money. They definitely emphasized his spending. I dont have much sympathy for him. At some point you would think of making better life choices.
Giving someone with mental and behavioral problems lots of money or millions simply makes them into a rich person with mental and behavioral problems. Money alone doesn't solve the core issues that need to be addressed.
Did you see the $842 million Powerball jackpot winners from New Years Day were finally announced. I totally forgot about that story they claimed it in June after 6 months!
If you won that much money (27mil) You wouldn't have to do anything and still live way beyond what your used to. Just sticking everything in a 4.5% interest account would give you over 1,000,000 dollars a year. You can live live as a millionaire just off the interest alone.
The lottery funds worsened the problem. Once you have so much money that you'll (realistically) no longer have financial hardship again, it can actually destroy your dopamine levels. You're now at the pinnacle. As far as you're concerned, the money is essentially infinite. No amount of money you make from then on will make a real difference. People work for most of their lives. Now working is *optional* for you. Where's the drive in life? What else is there to do but splurge and give in to every human vice in existence? You could give money to charity, but that only makes you feel good for the moment. What's the next thrill? What's the next thing to do? You could give it all away, but then you'd still be depressed, and live the rest of your life knowing you threw away the best thing that ever happened to you. In reality, it's the worst thing that ever happened, keeping it, spending it, donating it. It doesm't matter what you do. The moment the money is in your possession, it kills you inside. The only way to fully appreciate that money without the downsides is to earn it, and know that every dollar you made was a dollar *you* made. Self-made is the only way. That's why I don't play the lottery
That’s true but $27 million still buys a lot of you know what. Chances are if he was not an addict he’d of still blow the lot, only a bit longer but probably not a lot longer.
if you win big, put limits on your self and put it in a trust that will last longer than you. pay off all debt limits and live within the limits of the trust
He blew his portion of $280m---$41m before taxes. His take was about $25m. Not hard to do if you're a dope fiend and have zero experience of having had "FU money" and losing it before, coupled with not having smart, good friends.
@@thethrillofpattaya8404 Yes, I've heard that before. Getting a windfall greatly enlarges whatever weaknesses someone has. In this case two drug users were involved. Makes me think that if someone is married to a lottery winner who has a drug or alcohol problem the best thing to do is get a separation agreement so at least half of the money can be secure.
David Lee Edwards, my lottery hero. I liked him the moment I saw him on TLC's Life of a Lottery Winner. The way he showed off his money and blew it, accept no substitutes.
I will not invest money if I hit the lottery for some much money you don’t need luxury just leave a normal life and watch how you spend your money. Remember you have a family too.
😄😄😄 Very intelligent question. He used drugs to deal with his poverty related stress and now when he is rich he should have stopped using drugs. Instead he actually increased his drug intake. That is a puzzle.
1: Take care of all of your debts. Refuse all credit cards and loans from then on. 2: Set up bank accounts that pay for ongoing necessities - various insurance, property taxes, kid's education, etc. that you can only access to pay those costs. 3: Upgrade your living situation reasonably that will sustain you for a lifetime. 5: Invest in safe stocks, bonds and properties. 6: Create a savings for your retirement that you can only touch at a specific age. 7: Help only those people in your most inner circle.
...he had lived his life to the fullest yet he quietly endured his pitfalls. He faced his last stage courageously with his lawyer[?] at his bedside..R.I.P. Edward...
There was a lottery winner many years ago who was on a video like this. He lost most of it and said it was the worst thing that happened to him, but he also said that he was buying $600 worth of lottery tickets a week. Crazy.
People the one thing you should never do if you win millions of dollars is get a financial advisor. They are rip-offs. Never make any investments. Put the damn money in the bank and leave it there. You can buy all the stuff you want but leave the money in the bank. Don't trust anybody to help you spend that money. Where to help you save it.
Hong Kong's government is brilliant. Every winning amount is well spent through proper financial planning. First, the government will arrange your business interests, buy you a house or car, and give you money in installments. Cool, right? My friend, a foreigner, is now a Hong Kong resident. Yes, they do process your residency.❤❤❤❤❤ It is called concern and a good deal for both parties.
If you have never grown up with money, you won’t know how to handle it later. No one showed him how to handle it. I know of a neighbour woman that went through $600k in three months. She spent it all on more lotteries. She had to go back to work, as she retired. Sad.
If you have the blessing to come into big money, you don't start spending lavishly on super expensive toys. Filthy rich people do that because they can maintain that lifestyle with their multiple enterprises. It's not just abou being able to buy stuff but to be able to maintain it.
Why.................the hell would you have a credit card bill when you're a millionaire......😑 Don't start a business you know nothing about! PAY OFF EVERYTHING!!!! you should have no bills! Or house payments except utility bills!
Me. 63. High school dropout
Laborer all my life. Retired
House paid off. No debt at all
Money in the bank.
I make $48k a year. Never done drugs
Life is good.
I make less and have the same things, its all about management and being wise to what you really truly need. 😊
@@saggitarusspirit401 and staying the hell away from drugs.
aww good for you.
Are you still with barb?
Excellent money management. Kudos.
Money doesn’t change people, it makes them more of what they already are.
Thanks Dave
Yes it does
No one ever changes, they just become more of they really always were. It a saying someone told me once 😅 I don't actually believe it but I think it a neat saying lol
Like that Swamp Thing serum
Wisdom.
I won 2 dollars and it didn’t change me at all
You should have taken an annuity instead of lump sum. Most people’s downfall. 😊
Lol
@edwinrodeo 😂
@danielsinger6722 40 was my highest, it kept me humble
Could you spare a brother a dime ? 😄
The true lottery winner was his DRUG PUSHER!
😂facts he knew lol
A+
Car manufactures and liquor companies too.
Same goes for pro athletes who negotiates unfathomable amount of money.
That's me except I don't sell meth I sell coke and crack I can tell stories for days of all the people who got inheritances and gave me all their money and I used it to buy gold bars and bitcoin all of which is put away, for my future! :D
once i saw he bought a JET, i knew it was over!
😂🤣
100%! No one can afford to own & operate a Lear with Only $27 million😅😅
Parking fees are like $10,000 a month. Coupled with pilots salary, maintenance, fuel, it's definitely a money pit
@@contentinmotion I would imagine the insurance costs are astronomical as well.
@@Greg-ur8cvyes probably another $10k a month.
I won 64 million in 2012. I just have a personal rule to never spend over 1 million a year. No investments or nonsense extravagant spending; I just live modestly and drive my Toyota. I’m not business savvy and not interested in being manipulated.
If there is ever a year you would like to "spend" that million on our 124 year old homestead renovation, let me know.😂😂
Smart
How often would u buy lotto tickets?
@@jamoo0 I bought 4 tickets every single Friday with numbers I chose for over 14 years until I finally won. Funny thing is, even after I won; I still continued the same Friday routine. I still work and live my life like before I won. I just so happen to have more money I’m allowed to spend every year.
I need a new pair of shoes. Can you help?
If an non risk investment gives you about 30K a year per million, with 27 millions you get about $800K a year, $65K a month. That's pretty good money to have a decent life.
65k a month is pretty rad. 😊😊
Decent? How do YOU define decent? That’s a very lavish lifestyle!!!
Decent bruh I make like 2k per month that's uh😊
Bruh $65k a month can provide way more than a decent life
65K a month is "decent" money? Dude many people consider 60K-70K A YEAR to be a sufficient to have a decent lifestyle
"If you cannot manage a $1,000 you will never be able to manage $1,000,000.
That's not true. How do you plan to "manage $1000 when rent is $2000? How many months can you pay rent on that budget? One million on the other hand will pay your rent for several years. Or better yet buy you a business
@@mister_Marvelous_One If you have $1000, you don't rent a place that costs $2000. You just proved his point.
Well, yes, maybe. My mamacita 👵🏻 was brilliant at handling small amounts of money 💵 but when it came to unexpectedly large sums 💰 💰 💰 she could make the most cretinous decisions like ‘lending it to friends and family who vanished along with the 💵 + 💰.
She wanted to reverse mortgage her home. We were horrified as we could see her becoming homeless and one of us would have to take her in. Another time she didn’t like the idea of selling her home 🏠 to my friend because she didn’t like his morals.
See what I mean? Some people are penny wise and pound £ foolish (or cent 🪙 wise and 💵 foolish).
@@steves186no dinkus. you're not going to find rent anywhere less than $1,500 for a one-bedroom so you're already 500 in the hole
But you could live off a billion thou. I mean realistic a billion is a crazy amount even with drugs or gambling a normal person shouldn't be able blow throu a billion in a life time 😅. Also to the person who commented rent being 2k ... like a month? Even then that be pretty high depending on the size of the place but if that's a week like where do you even live 😂
$85,000 a month. I could live off that forever.
More money more problems, the majority of people lose it all thinking it won't happen to them. So far you or I haven't had a chance to experience this phenomenon.
And still shop at Walmart, Target and even Macy's.
@@bondgabebond4907, who shops at Macy's?
@@trythis2821sure, if you blow it all on fast cars and fancy jets. >_
@@tvoovm7254 Macy Gray?
And so the fool and his money are soon parted...
Or a fool and his money are soon partying 🎉
That's what the scripture saith
Or partying
Especially when you haven't worked for it
Like the Bible says
I mean, what do expect from an addict? If he could or wanted to make just ONE good decision in his life, it should’ve been to get help with his addiction but he CHOSE not to. Not even for his own daughter.
*I mean, what do you expect from a consumer? Consumers are destroyers.......Our society villianizes the producers and is rittled with consumers. Consumers are wealth destroyers and producers are wealth creators.....
Who in their right mind would buy a tv for 30,000.00
Exactly right 30k for a TV no thank you but still he enjoyed his life with his 13.5 millions before he died
Legend has it after the drug money ran out, he sold the tv for cents in the dollar and bought drugs.
Lo I was thinking the same thing. $27 million. Isn’t Elon Musk wealthy. Why would he need a private jet, multiple expensive houses, an $80,000 watch and several luxury cars? I guess I will never understand that level of just blowing money. 🤷♀️
Okay that 1.6 million dollar house and 200k Lamborghini is fine as long as he has income lol and why did he buy a jet?? @@pinkhouses8300
Back then there were no flat screens in the U.S. Only those with wealth and/or power could acquire them from Japan and they were extremely costly. I had a friend who paid 18 grand for one back then. I'm assuming this guy's was just bigger.
*That’s why Dave Ramsey says “Lottery winners lose their money because the exact same person who wins the lottery, is the type of person who plays the lottery.” Meaning that’s people who spend money on B.S. don’t suddenly become disciplined with more money.*
Good point
That's true, but there has to be some lottery winners that make good investments after winning, even if they didn't do so beforehand. There has to be. I would like to think that at least one person, made wise choices.
@@mangmerciless9606theres plenty. They just know to do what you just named and stay out of the way more importantly
Your leaving here with nothing 😂
Good comment, but why the bold font?
I thought he won 280 million not 27 million that’s a big difference
280 million gets more clicks.
That's really not that much when you look at his spending.
Ya, with 280M he would have lasted at least 1 more day before going broke.
True! 27 million is life changing still. He could have owned business, buy real estate. Invest, go on vacations and do whatever he likes. But he chose the high life haha
Back to the Kentucky trailer park David went. Red state hillbillies, lol.
With that kind of money , how the hell did he get in credit card debt ? Mismanagement of funds is catastrophic. This is why school's have to teach money management and discipline !
Before the do that, they have to close all casinos, alcohol selling and drugs...
Until then only the Bible can help!
@@michaelristovski9467 You can drink alcohol or play at casino without become addicted to it. Abusing it it's the real problem.
Forget it. If everyone becomes financially responsible, those ***** at Wall Street would all be out on the streets.
Public schools don’t exist to teach. They exist to indoctrinate
He probably dropped out of school so no amount of classes in school would’ve helped
And he didn't even set his daughter up with a trust. What a POS.
Moral of the story don't do drugs. Don't spend anything until you have invested wisely. And have a constant income
He didn't have to invest a cent. Just put the money in the bank gathering interest and live on a reasonable budget. He would not have to worry about money the rest of his life.
Well stated. With 27 Million (AFTER TAXES) he didn't have to invest a dime. The interest on that amount would've easily brought him in over 1 Million dollars annually
@cliffordhill2365 yea but that's not rich people income and he was spending like one
He had 27 Million, that's more than some folks who are considered rich. The interest on his money would've been over $80,000 per month. Most people can live comfortably on less than $10,000 per month. What kinda lifestyle do you think all rich folks are living?
@cliffordhill2365 if you are bringing in millions per month you can definitely live large 10 thousand 🤣🤣thats what the Maintenance on certain mansions cost monthly
My mom inherited over 100k in May 2022 when my grandma passed away. It’s all gone now, squandered at the casino. She complains all the time she’s so broke, but I pay all her bills so she only needs food ( I know very expensive now). She would gamble every dollar she could get her hands on if she could. Stay close to God and true family. If my mom asks me for money I’m going to tell I gambled all of mine. Never again, no more handouts for her hot checks.
That 30k tv now 100$ in excelent condition on ebay
I have a relative who inherited
A million bucks .
It was gone in 18 months on drugs.
Sounds like a good time
😂
How can you spend that much on drugs in a few months
I read of a girl who inherited over a million; when she wanted to dump her deadbeat leech husband a year later, he killed her.
I seen a few dopers lose their inheritance and their parents homes in this way...
There is no one dumber than a drug addict.
Here's an example of a video that wasted 16 minutes telling you what they could have done in 5 minutes!!
When I heard the narrator say the word "mortgage" I almost spit out my coffee... And then credit cards on top of that.
Mortgages AND credit cards are Great financial tools if used correctly.
@@thethrillofpattaya8404
Indeed 👍
What they don’t realize is all those luxury items have maintenance.If your not making six figures a year the property tax and maintenance plus monthly insurance and other stuff that comes with it will drain your account fast.
Don't forget to include the oil change in the Lambo.
Private jet- pilot, maintenance, fuel, hanger cost, insurance, luxury tax. A real money eater, Insane if you don't have 9 figures in wealth
It's sad, but it also brings up feelings of anger. It's hard to feel sorry for this type of person who gets a 1 in a billion chance.
Oh my god when I win the lottery I am paying my house off paying all bills and the rest in the bank and live off the interest
That’s how you do it.
That’s my plan too. Keep $2mil, fix house and pay off all bills and put the rest into a high yield savings account that’s locked for 5 years and live off of the interest alone.
Same
Gotta invest if you want to keep up with inflation.
You never ever want to reveal yourself as the big winner And especially never talk to the press and tell them anything ,much less your past history
Unfortunately in this country it's the law
Ga passed new law this year that you can do it in secret to protect you and your family for big wins.
In England you can remain anonymous
I could care less if everyone knew I won, they still not getting any of it.
@@Wildman-zh8lg Depends on which state you win it.
Who wastes money on luxury cars? I wouldn't. A $200,000 car will take me to the same places as a $20,000 car. That's like buying a $25,000 t-shirt. I still have $2 tank tops from Walmart that I bought 4 years ago, and they're still in perfect condition.
Nobody at the Ritz Carlton wants to see your Honda Accord. It might take you there, but doesn’t mean you will be welcome there.
🤣🤣🤣
Exactly, in fact why even have a car?
I'd just buy the cheapest bike Walmart has and peddle around everywhere I go!!
Rich people and their cars, BAH!
Don't make me laugh.
YEP and I bet you don't buy loto tickets. I get compliments on two short sleeved shirts i wear. One was from Walmart, the the other from a 2 hand store aka Value Village. i am easy to fit, though.. just one size bigger than medium
@@montexan1405 lol
The old saying “A fool and his money are soon parted” couldn’t be more true
The fool and his money should never have met in the first place!
1) TELL NOBODY!
2) Hire a Lawyer.
3) Hire a Financial Advisor.
4) Do precisely what your Lawyer and Financial Advisor tells you to do. Exactly how they tell you to do it.
🎯💯‼️
Yep....and then they slowly rob you of your money.
I would never hire a snake attorney! Ill keep it myself
I would only hire a financial planner
@@digidrum2003correct 😂
I could manage it myself and make the right decisions. A financial planner may charge you 5%.
Just love how the word vomit AI makes a 2 1/2 minute video in to 16 minutes
1.5 speed and learn to skim videos. It's skill you will develop, and you'll like it
Money will feed your character traits. Anything you are, money will accentuate it.
$200K a month on just drugs over 5 years comes to 12 million...wow
I thought people who bought drugs to escape when you get millions you can escape without drugs LOL!!!
That’s what I was thinking. 200k a month on drugs is 1 million a year. How could anyone do that??
@@stevemccrary1605 actually that 2.2 million a year on drugs in 10 months that’s 2 million dollars your math ain’t mathing 😂😂
That’s pretty impressive that even two could do that much in drugs and not die in a short time. That’s some tolerance.
@@bigbank986Your math also ain't mathing. It's $2.4 million/year. It's hard to imagine someone thinking that 200k/month equals $1 million over a year.
People with money don’t have that money on accident. They’re rich because they’re not a dumba$$
Sounds like his drug dealer won the lottery
You got that right ✅
😂😂😂
Lord make me winner tonight’s Amen 🙏🏼
Good luck
No, He won't.
Your "Lord" hates rich people, and refuses to accept them into Heaven.
Where in the Bible does it say Jesus hates rich people? He warned it was difficult for them to reach heaven because of the love of money.
Did it work?
@@YaaaTeee lord can change in second if you believe god never hate no one
Imagine having that kind of money and still using credit cards and getting mortgages. He could have invested 1/4 of his winnings in dividend paying index funds and blown the rest and he'd still live a prosperous life off the dividends.
So what is the what's app number to your advisor?
@@herbescobar2974you could probably pick random blue chip stocks and get a good enough return . credit cards are good if you pay them off on time. if you go into debt thats a different story.
think the long term avg on the share market is 5-6%. hell you can get government bonds for approx 4%
easily enough to live off with the kind of amounts won in the video.
even if you win about 1mil you would make more in passive income than some people do from their jobs. ofc you wouldnt retire off that though.
Often the wealthy have mortgages for the tax break. They use others money and hold onto their own. I wouldn’t but I’m not wealthy.
I watch These To Help Know what Not To Do LOL
Drugs is one of those things not to do
Are you serious
same haha
Don't do drugs!!!
Why not?
Ok😊
I don't, I sell them.
I remember seeing him profiled on lottery winner videos when he still had his money. They definitely emphasized his spending. I dont have much sympathy for him. At some point you would think of making better life choices.
27 million isn't private jet rich. It's not about paying for the jet. It's the money spent operating it. Same with boats.
i won 4 usd. dollars, invested 2 back into the lottery, the other 2 into myself, then got rich in my dreams.
😂💯🍻
even if he won 280M he would be the same path just last a little longer.
It all started with him taking the lump sum over annual payments… the direction was very clear at that point.
Giving someone with mental and behavioral problems lots of money or millions simply makes them into a rich person with mental and behavioral problems. Money alone doesn't solve the core issues that need to be addressed.
well he won it fair and square it wasn't just given to him plus he basically gave it back to the GOVERNMENT with all the unchecked spending
They found cocain in wh !!😮
Did you see the $842 million Powerball jackpot winners from New Years Day were finally announced. I totally forgot about that story they claimed it in June after 6 months!
That is discipline keeping that to themselves for 6 months.
If you won that much money (27mil) You wouldn't have to do anything and still live way beyond what your used to. Just sticking everything in a 4.5% interest account would give you over 1,000,000 dollars a year. You can live live as a millionaire just off the interest alone.
You took the words outta my mouth. I worked in a bank for 10yrs and you're spot on.
What is the what's app number to your financial advisor?
@@herbescobar2974 1800-Common Sense
Really? With $41 million tax free, you would worry about investment income?
@deadmanrunning6670 yup that's what I said
The Lottery funds were not the problem his addiction to illegal drugs was his downfall
The lottery funds worsened the problem. Once you have so much money that you'll (realistically) no longer have financial hardship again, it can actually destroy your dopamine levels. You're now at the pinnacle. As far as you're concerned, the money is essentially infinite. No amount of money you make from then on will make a real difference. People work for most of their lives. Now working is *optional* for you.
Where's the drive in life? What else is there to do but splurge and give in to every human vice in existence? You could give money to charity, but that only makes you feel good for the moment. What's the next thrill? What's the next thing to do? You could give it all away, but then you'd still be depressed, and live the rest of your life knowing you threw away the best thing that ever happened to you.
In reality, it's the worst thing that ever happened, keeping it, spending it, donating it. It doesm't matter what you do. The moment the money is in your possession, it kills you inside.
The only way to fully appreciate that money without the downsides is to earn it, and know that every dollar you made was a dollar *you* made. Self-made is the only way. That's why I don't play the lottery
That’s true but $27 million still buys a lot of you know what. Chances are if he was not an addict he’d of still blow the lot, only a bit longer but probably not a lot longer.
I can't even imagine pissing away that kind of money. 20 million free and clear, and I'm good.
if you win big, put limits on your self and put it in a trust that will last longer than you. pay off all debt limits and live within the limits of the trust
Thats why Jesus is important in your life with or without money.
Blowing 280 mil, you have to be an absolute fool.
Money never made anyone smart.
He blew his portion of $280m---$41m before taxes. His take was about $25m. Not hard to do if you're a dope fiend and have zero experience of having had "FU money" and losing it before, coupled with not having smart, good friends.
@@thethrillofpattaya8404 Yes, I've heard that before. Getting a windfall greatly enlarges whatever weaknesses someone has. In this case two drug users were involved. Makes me think that if someone is married to a lottery winner who has a drug or alcohol problem the best thing to do is get a separation agreement so at least half of the money can be secure.
or a government official
David Lee Edwards, my lottery hero. I liked him the moment I saw him on TLC's Life of a Lottery Winner. The way he showed off his money and blew it, accept no substitutes.
I will not invest money if I hit the lottery for some much money you don’t need luxury just leave a normal life and watch how you spend your money. Remember you have a family too.
Because of that family a trust should be set up and annuities should be invested in. It will last for generations that way.
You would make a lot of money simply keeping it in the bank.
@@kyleconnor2759how? Doesn't the bank start taking chunks of you savings away?
very smart
Yeah, that makes sense. Not growing your money is always a brilliant idea. 😂😂😂😂
If they ever make a movie about him it should star Leonardo DiCaprio.
Johnny Depp
Chuck Norris
Imagine getting $85k a month for life? Most don't make that a year.
For me, after tax 50g a year works just fine.; assuming no mortage and decent Condo (am single)
He only won 40 million pretax and he bought three houses and a jet? Wow.
When you have that much money why do you need drugs to comfort you 🤨
😄😄😄 Very intelligent question. He used drugs to deal with his poverty related stress and now when he is rich he should have stopped using drugs. Instead he actually increased his drug intake. That is a puzzle.
I just want to win 2 million. I won’t overspend. I will disappear into my retirement
Many people don't understand having a huge payday is one of the worst things that can happen to you
People think their problem is a lack of money. nah, it's within you.
My dad always said " A fool with 5 dollars is a fool with 5 million" How sad
Buying an extremely expensive set of vehicles is not a good idea
27 million isn't "buy me a private jet and hire a pilot" money. At least it doesn't sound like it.
I found 5 dollars at the doctor's office and thought I scored...
Poor mindset + Millions of dollars = poor
You forgot to mention he borrowed that 7 dollars to buy the ticket from a friend.
Guess he repaid his friend and spent the rest on mostly drugs before selling the good things he bought and buying more drugs.
He used to visit Diamond Girls almost every night in West Palm Beach and be very generous with everybody.
Attention: That $30,000 Plasma TV is yours now for just $1,999 @ WalMart!
Addiction and ignorance 😢
A lot of people work for 40yrs, and never make a total of $1 million.
Yes lots of people make a million in there life time. That's only $12.02 an hour for 40 hour work week for 40 years. 1 million is nothing anymore.
After he died he went to a mansion in heaven where there is no addiction 😂
I hate these stories that have so much repetition that it takes so long to get to the meat, the actual facts of the story.
His drug dealer hit the lottery
Just because you win millions doesn't make you rich You cannot spend like a rich person until you start. Receiving rich person income
Exactly right you won the lottery just make sure to do smart investments for you get more income
1: Take care of all of your debts. Refuse all credit cards and loans from then on.
2: Set up bank accounts that pay for ongoing necessities - various insurance, property taxes, kid's education, etc. that you can only access to pay those costs.
3: Upgrade your living situation reasonably that will sustain you for a lifetime.
5: Invest in safe stocks, bonds and properties.
6: Create a savings for your retirement that you can only touch at a specific age.
7: Help only those people in your most inner circle.
...he had lived his life to the fullest yet he quietly endured his pitfalls. He faced his last stage courageously with his lawyer[?] at his bedside..R.I.P. Edward...
You win $528M and buy a $1.6 M house with a mortgage?
You have to be a total fool to waste that type of money
I lost a dollar and had to go to therapy
If you don't have financial education, no amount of money will fix your life.
Smart people know enough to hire a team of people to manage the money for them .They also remain anonymous as possible and never talk to the press
Better to have small financial knowledge (Eg Business math and 2 sem's of accounting) and possess wisdom. it is better than Gold
How u spend 200k on drugs a month is insane
without overdosing?
Bro should’ve bought a Toyota
A used Toyota...
With 280mil why do you wanna invest? Just chow your money month by month
Lord please make me a Winner tonight Amen.
Hood luck
There was a lottery winner many years ago who was on a video like this. He lost most of it and said it was the worst thing that happened to him, but he also said that he was buying $600 worth of lottery tickets a week. Crazy.
I use my pocket change to play the lottery. When the console of my truck accumulates $2 I buy a ticket.
People the one thing you should never do if you win millions of dollars is get a financial advisor. They are rip-offs. Never make any investments. Put the damn money in the bank and leave it there. You can buy all the stuff you want but leave the money in the bank. Don't trust anybody to help you spend that money. Where to help you save it.
Surely the first thing a lottery winner should do is put a couple of million aside, at the very least, so you have something to fall back on?
Hong Kong's government is brilliant. Every winning amount is well spent through proper financial planning. First, the government will arrange your business interests, buy you a house or car, and give you money in installments. Cool, right? My friend, a foreigner, is now a Hong Kong resident. Yes, they do process your residency.❤❤❤❤❤ It is called concern and a good deal for both parties.
This is one of many overall cautionary tales and a reinforcer of how money doesn’t buy happiness for some people.
It sometimes doesn’t even buy a better class of hanger on.
If you have never grown up with money, you won’t know how to handle it later. No one showed him how to handle it. I know of a neighbour woman that went through $600k in three months. She spent it all on more lotteries. She had to go back to work, as she retired. Sad.
The money sometimes becomes the money's paw....
His financial adviser should be in prison
This is why so many people can't handle enormous wealth
Makes me sick being poor
Always the ones who dont deserve it, win the lottery smh.
If you have the blessing to come into big money, you don't start spending lavishly on super expensive toys. Filthy rich people do that because they can maintain that lifestyle with their multiple enterprises. It's not just abou being able to buy stuff but to be able to maintain it.
should have banked the money, bought a not so fancy home and car and lived his life,, spending tons of money for things is just plain dumb
Some people look dumb just from their vibes and looks.
Why.................the hell would you have a credit card bill when you're a millionaire......😑
Don't start a business you know nothing about!
PAY OFF EVERYTHING!!!! you should have no bills! Or house payments except utility bills!
God Almighty I would love to win the lottery jackpot ❤❤❤❤❤❤❤❤
Don’t underestimate the power of ignorance