When perfectly good money goes bad….

Let me just state for the record I do not make a habit of reading sports related stories in the news. I don’t seek them out, but I do like to peruse the titillating titles scrolling across the yahoo page after I check my email. That’s how this article about a former NFL player whom we all loved to despise caught my attention. The synopsis read “Terrell Owens nearly broke”. My befuddled brain screamed “Seriously?? WTF???” 

How does a person who earned upwards of 80 million dollars in a few short years go broke??? Which of course made me want to see how many other rich assholes squandered their millions and ended up poor like the rest of us….

So I googled it….

🙂

Turns out it’s more common than you might think…except in the case of Billionaires, they just plummet from having Billions down to mere Millions. Poor babies….however do they survive??? Also turns out most of them file bankruptcy only to protect their assets so they’re only broke on paper. I interpret that as they live in a multimillion dollar estate but are forced to drive a Chevy. Heartbreaking, ain’t it?? 

I did find several articles listing newly made Millionaires who got rich by winning the lottery, and had no clue how to handle all that money. They say money doesn’t buy happiness but honestly I think it made these dummies so deliriously happy that they lost their damn minds and went broke buying things like solid gold life sized statues of Elvis or some other such garbage. What money can’t buy is class, or brains….

We’ve already discussed what I would hypothetically do or not do if I won the lotto. Mostly I would  A) find a good financial advisor, B) hire a good accountant and C) plan accordingly so as to live out the remainder of my life in comfort, and ensure the comfort of my children’s lives.

If I win the lotto and end up broke 5 years later, I give you all permission to whoop my ass. I would totally do the same for any of you….

‘Cuz I’m a giver….

🙂

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6 thoughts on “When perfectly good money goes bad….

  1. Yes you are a giver! And I’ll be first in line to whoop yours if you blow your lotto winnings! When I was a regular church goer (about a million years ago) there was a popular bumpersticker in the Christian bookstores. It went something like this: “Dear God, please let me prove to You that winning the lottery won’t spoil me!” Or something like that.

    I think it takes a very strong individual who is happy with themselves and their life to handle sudden wealth. You strike me as someone who could definitely manage wealth wisely.

  2. I read a long time ago that people who win the lottery often end up broke within a few years and that the first thing you should do is hire a financial advisor.

    I’d never win, though, because I don’t buy tickets. First, I never win anything anyway, and second, if I were rich I’d blow it all having a really good time and be right back where I started….so I stay where I started.

    That being said, if you win, you need to mail me homemade cookies. For the price of homemade cookies, I’ll be in line to help whoop your butt if you blow the money….on anything except postage for the cookies,that is. That is totally a reasonable expense.

    • Totally reasonable! Better yet, how bout I fly you out here and bake you cookies? They’ll be sooooo much better fresh from the oven…I’m just sayin’….:)

  3. I keep praying that the luck of the Irish might rub off on me someday to win the lottery, but so far no joy. I do tend to win things every now and then. One time I won a $100 gift card for Sam’s Club, but it took them at least five attempts to phone the house to tell me. My darling hubby kept hanging up on them telling them we’re not interested in any offers. Luckily, I finally answered to learn the good news. Hope you win the big one someday, Grammy.

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