Ever dreamt how it would be like if you won a lottery and became a millionaire overnight? Well, I have and believe me, considering the wild things I intend to splurge my cash on it would be wiser for the entire universe if I was prevented from laying a finger on such a huge sum (although I can always earn it using my superior intellect 😛 ). And that’s exactly what today’s guest post is going to be about. So let me introduce you all to our newest guest author, Austin Weaver who has written an interesting and humorous post about some rather inane things people do when they win the lottery. Continue Austin…
The number one most popular post-jackpot win purchase is a washing machine, and then a couch, and not even one of those smart couches that have built-in beer coolers, TV remote stands and recliners…just a couch.
That’s right, instead of buying fleets of Lamborghinis, lottery winners have been rushing out to celebrate their new fortunes with household commodities like wall-to-wall carpeting and vacuum cleaners.
1. Greasy Egg Rolls and Sesame Chicken
On June 1st, Alan and Kim Elliott from Nottingham, England discovered that they held a winning EuroMillions UK Millionaire Raffle ticket. They celebrated their €1.2 million win with Chinese take-out and a bottle of champagne.
Unfortunately, not all lottery winners approach their massive jackpot wins with as much frugality (and shrimp fried rice) as Alan and Kim.
Sure, there are the stories of millions spent on home theaters, waterslides, and jackpot-sponsored debauchery. But what about a bizarre shopping spree on haute couture long since in style? How about a Nascar team, or two?
These are only a few instances of lottery spending gone all too wrong. Note to future lottery winners: paying taxes, sharing jackpots with spouses, and coughing up child support are not optional.
2. The Nascar Lord
Joe Denette does not own one Nascar team – that would be ridiculous. He owns two!
In January 2009, Denette was laid off from his construction job. While looking for new work, Denette budgeted a percentage of his expendable income on lottery tickets and it turned out to be a sound investment.
In May 2009, he splurged on $23 worth of lottery tickets and one of his tickets held the winning Mega Millions numbers, earning him $75 million.
An avid Nascar fan for years, Denette skipped the new carpeting and washing machine that other lottery winners apparently snatch up and went straight for the race cars.
It is unclear what Denette’s wife and children got out of his jackpot windfall, as he coughed up $20 million on the ultimate fleet of man toys – six houses, eight luxury cars, an armada of ATVs, jet skis, a speed boat and two tour buses. What does he need two tour buses for?!?
Joe Dennete claims he is still doing okay, at least for now. He has his head above the water and loves waking up each morning and deciding whether or not he wants to work that day. But only time will tell.
He has spent almost half of his $75 million jackpot in just 3 years. If he keeps up with this pace, he might be hoping on a tour bus to bankruptcy.
3. The McDonald’s Experience
Don’t underestimate your local McDonald’s burger flipper – they might just be a lottery millionaire.
Luke Pittard is a Welshman, lottery winner and McDonald’s aficionado, won a $1.9 million jackpot in 2006 and did what many lottery winners do – went on vacation.
Apparently Pittard’s room service bill was a little too high because within 18 months, he had returned to work his neighborhood McDonald’s, this time as a staff trainer.
4. The Haute Couture Spending Spree
In 1961, Vivian Nicholson won £152,300 in UK football lottery betting, a large fortune by today’s standards.
She spent the entire jackpot on haute couture, ugly plaids, pants suits and outdated vests. Now 71, she is broke, a Jehovah’s Witness and married to husband number 5. Part of the problem might be that she is still wearing her “haute couture” from 1961.
When it comes to cashing in on a record-breaking Mega Millions jackpot or SuperEnalotto Italian Lottery prize, winners should be advised that shopping and spending are not sprints.
Newsflash: If you landed a lottery jackpot, you are already a huge winner. Slow down, talk to a financial advisor (yes, they know what they’re doing) and enjoy the ride.
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