I don’t know about you, but it seems every time I hear about someone who wins a windfall in a lottery, five years later he’s broke and working at a $2 car wash in Ohio somewhere for minimum wage.
Winning a lottery is one of those “careful what you ask for — you just might get it” things in life. People think it would be instant easy street and life becomes all smiles overnight, but that’s just not the way it works. Massive amounts of money suddenly infused into a life not accustomed to dealing with such money brings gigantic problems with it, and that’s why we see stories of people who are broke after winning millions only a few years prior.
You have to manage the money, or it manages you.
So when I read the story of Brad Duke, a 34-year-old manager of five Gold’s Gym franchises in Idaho, I applaud. Here’s a guy who won a $220 million Powerball, pocketed $85 million in one lump sum, and immediately began working on a plan to parlay that $85M into $1 billion over time.
He didn’t go nuts partying. He didn’t give cash to every long-lost friend who came out of the woodwork with a sob story. He didn’t buy a mansion and two Bentleys. He didn’t become a drug addict or alcoholic. He didn’t do anything like that. What he did was realize that he suddenly had more money than he knew how to handle, and he took it from there. He hired a team financial consultants. With them, he developed a financial strategy to give him $1B in 15 years — and he’s tracking to 12 years right now. He created a family foundation. He bought road bikes, as he’s an avid bicycling fan. First things first, though: he took 17 of his friends to Tahiti for a long vacation. Cost: $63,000. He also paid off his$125,000 mortgage and an $18,000 outstanding student loan.
And that’s about all he did in terms of initial spending. No new house, no new car. In fact, he gave his 2005 Jetta away to his nephew and bought himself — get ready — a used 2002 Jetta just so he could get the black/black color combination he wanted. Duke has a wisdom beyond his years, and I again applaud him for understanding what $85M means, and the damage it can do if left, flailing like an open firehose, to snake randomly and unchecked through somebody’s life. Duke did his research.
I’ve always handled responsibility well. If you accept that check, you accept an amazing responsibility to yourself and whomever you decide to include in it. I was quiet about winning for a month before I decided to come out. During that time, I was getting as much research as I could on existing lottery winners and what their stories were. Most of them lose all the money within a short amount of time. I’m looking at statistics where people in ten years have nothing. In ten years, I wanted to be worth about ten times as much. I think a lot of people who play the lottery are people who live on hope.
Just a fantastic story, and a refreshing contrast to the one you normally hear.
Duke did his research on prior lottery winners and how they blow their money in ways so unimaginably stupid that it’s hard to believe. That’s the power of money left unmanaged. With any luck, the next big Powerball winner will read about Duke’s story and use it as a template of how to do it right.
Technorati Tags: lottery, money, investing, powerball, life, society, success
72 responses so far ↓
Florida Lottery » A lottery winner who doesn’t end up in ruin: It’s about time … // March 3, 2007 at 9:28 am
[...] post by Jeff Ventura and a wordpress plugin by [...]
Mea Culpa // March 3, 2007 at 9:48 am
Great story Jeff. Thanks for the post. Brad Duke seemed to clearly know himself well before money showed up at his doorstep. It’s great to read about people living up to their own, not societies, expectations.
“True self is the part of us that does not change when circumstances do”
- Mason Cooley
Sin Ling // March 3, 2007 at 11:38 am
hi jeff, nice post, if i have the chance to win a lottery, i will keep the money and later on might go for a travel for relaxation. It is true that we need to manage our money carefully, it will fly away very fast if we didnt pay some attention on it, you win a lottery before?
Neal Watzman // March 3, 2007 at 2:59 pm
I’m glad to see you posted that positive story, Jeff. What we always hear are, like you mentioned, the folks who blow it. Although I must say, I’ve not seen any of those lottery winners at the Cincinnati, Ohio car wash where I attend.
This guy did his homework and thought well beyond immediate gratification, something hard to do in this “consumer society”, where we can “have it all.” And as a result, he really is set for life.
Nice
Bill // March 4, 2007 at 2:45 pm
He wins $83Mil and gives only $12K/yr for a brother/family member? I he were mine, you would be reading his obituary [and my resultant inheritance].
Jeff Ventura // March 4, 2007 at 2:53 pm
Bill — that’s the maximum allowable per year without tax implications.
Bill // March 4, 2007 at 3:08 pm
I know because I have done the same myself. I just wanted you all to have a laugh. I was really borrowing my own brother’s line about me. We’re Italian and inherited the comedian gene. Sunday dinner [at 2 PM] was a big comedy sketch.
Jeff Ventura // March 4, 2007 at 3:16 pm
I’m Italian too and the only person who got the gene was me. My sister did too, but not as much. I tell her that every chance I get.
newhoosier // March 4, 2007 at 6:55 pm
I keep wishing someone would give me a windfall, but no luck so far.
richard hobbs // March 6, 2007 at 3:40 pm
That story is just a feel good story. if the guy is too cheap to buy a new car or help his family out with eighty five million, what is he going to do with a billion? Next thing he will say he still goes to work every day and brings his lunch in a bag. I don’t believe a word of it.
cynthia // March 6, 2007 at 10:23 pm
Why would it be hard to find a black/black Jetta combination .. (custom order hello) and seriously..a Family Trust? haha! isn’t that an oxymoron? Most lottery winners end up back in the same situation they were in ‘Pre-win’.. but they probably enjoyed the ride, no?
Psychohistory A $370M Lottery Jackpot and A Story of a Lottery Winner « // March 7, 2007 at 2:20 am
[...] handled his money well. Graceful Flavor, which I typically read for Apple-related news, had a nice write-up on this story. The original article actually breaks down what this winner spent his money [...]
Powerball winner losing home in auction « Terryorisms // March 17, 2007 at 8:52 pm
[...] A Lottery Winner who did it right [...]
goinglikesixty // March 18, 2007 at 7:24 pm
Would you want to read: “Multi-millionaire lottery winner has great life.”
You don’t hear about the “good” winners because that’s not interesting to read about.
Jeff Ventura // March 18, 2007 at 7:28 pm
goinglikesixty: no, you don’t hear about the lottery winners who have great lives after winning because there aren’t many. At all.
paralleldivergence // March 31, 2007 at 10:33 pm
I know it’s not the same, but it’s another cool lottery story…
http://paralleldivergence.com/2007/03/28/the-best-fool-is-an-april-fool/
Coll B. Lue // April 1, 2007 at 5:34 am
My brother played the lottery in Dady County, Miami or Virginia when he moved there - can’t remember, but he just had one number short of the winning lotto numbers - so either you become totally disillusioned or keep on trying in the hope of clinching that million dollar/pound prize - I haven’t played the lotto in years and I admire those who staunchily get their set of lotto tickets each week religiously - banking on all odds to win that most valued prize - I’ll have to get my four-leaf clover out I think for my next buy. Keep rolling numbers! You never know!
a friend of Brad's // April 3, 2007 at 3:49 pm
As a friend of Brad’s from years back, I can honestly say that he is truely the person depicted. He has taken care of his family and entertained his friends (my husband attended an “anniversary party” thrown on the 1 year anniversary of his win), and yes, still does go to work, although not necessarily everyday. He is a very unique individual, and I am very honored to call him a friend - with or without the $85 million.
JJ // April 5, 2007 at 4:55 pm
I would love to hear more positive lottery winner stories, or even how others cope with a large windfall whether lottery, inheritance, etc.
jose // April 9, 2007 at 1:16 pm
my lotto uon
chuck brown // April 25, 2007 at 6:27 am
Great story… I like how he is thinking ahead.
chuck brown // April 25, 2007 at 6:28 am
That is how you make your money stretch a lot more.
chuck brown // April 25, 2007 at 6:28 am
We need more positive stories like that.
Tan Tran // April 25, 2007 at 6:02 pm
He is a very lucky man. I wish that I will be a very lucky man like him.
I am dreaming to be a lottery winner too!
I hope that God will help me on this.
God bless America !
Suzann // April 26, 2007 at 2:40 pm
I think Brad is cool. I live in central Idaho, and he has donated money to our mountain bike festival, and he comes to the races and hangs out with everyone. He’s not a jerky boy, and he drives a somewhat crappy car.
Jeni J. // May 10, 2007 at 12:25 pm
Hey, a Jetta is NOT a crappy car. : -) That shows he has awesome taste in cars, but what I really want to know is if he ever restored his old Z?
Tom K // May 22, 2007 at 10:47 am
I would like to know who is financial advisors are? To go from $85 mil to $1 bil in 15 years he has to earn about 18% annually. That’s tough to do without taking a little bit of risk but I hope he makes it. He sounds like a really good guy!
MD // June 2, 2007 at 10:38 pm
Great story. It’s amazing how rare this kind of outcome is. Ditto Tom K’s point on financial returns. I’d like to borrow his managers if he’s making those kinds of returns.
Juners H. // July 21, 2007 at 12:23 am
Its good to have a plan IF you win the Lottery. I joke with my husband daily about how I KNOW I will win someday. And if I did…what would I do? Who would I tell…..and who should I talk to. Most have so many dreams of what they want. A new car, or even a collection of cars, travel everywhere, and million dollar homes. But all I would want is to be able to provide for my family without living paycheck to paycheck. Sure I know…say that now. But when you come to the realization that you have an endless line of credit, and a whole world out there, who knows what you’d end up doing. If you read in the “Curse of the Lottery” tales, they all say”We don’t want the money to change us.” Then BOOM! Their broke and divorced, and crying that they wish they wouldn’t of won the lottery. I think its good to play it smart and get financial advisors FIRST. Im sure you’d find a whole slew of troubles you wern’t thinking of. Of course theres the long lost realitive story. Strangers approching you…and god forbid a kidnapping threat on you…your child, or even your beloved pooch “Snowball.” I’m sure theres alot more troubles I haven’t thought of. A financial advisor could fill you in on all that. Whenever I think of winning the lotto, all I think about is seeking advise, then disappearing for like 2 months till the hype settles down. Winning the lottery would be totally cool, but I think I’d be a wreck if I knew that I was holding a little piece of paper in my hands worth millions. What next? Stay up all night drinking coffee, locking all the doors and peeking out the window thinking “their out there somewhere wanting to steal me ticket.” I think the best start would be to sit and do nothing with the winnings at first until your plan is complete. Find out how you can break down your winnings to benefit you.(Just as Brad did ) Put yourself on a realistic budget….and then……head for somewhere tropical for awhile where no one knows who you are..OOHH YAAHH
Cleo Griffith // July 28, 2007 at 8:16 am
do you loan money for hardship????
sictransitgloriamundi // July 30, 2007 at 6:42 pm
My hat is off to Brad. If you want to see who a person really is, give them power. We need more stories about more Brads. There are a lot of them out there.
Tom K,
If you buy into the “money experts,” you are correct that 18% (1.5% monthly) is risky. You gamble on the markets and they get paid whether you win or lose. It’s a great racket.
Fortunately, 3-5% monthly returns with essentially zero risk is straightforward. 1.5% is slow money.
Turn off the money channel and get smart.
Good on Brad for acknowledging his areas of strengths and weaknesses, and turning to others who have complimentary strengths.
Juners // August 9, 2007 at 2:15 am
Loaning money for hardship is a tricky one. Of course thats one of the many problems you’ll face. I thought of that too. Truth is many lottery winners do have heart strings and they can be pulled with sob stories and such. I do have a heart, and turning someone away would be really painful. But if you think about how much hardship is out there, you’d go broke trying to be a saint. When I think about winning the lotter I think of moving out of state LOL. May not be the perfect solution, but the only one I know of. It would be nice to hear from jackpot winners to see what they did. I would def help my family out. But they’ve had an idea of starting a family business that I think would do well in our area. Not only would it be an investment in bringing in more money, but provide employment for those in my community. Now for helping those with hardship that I do not personally know? I don’t know how to handle that. I guess depends on the hardship. Im sure there are ways to help others to benefit their futures, and not just handing over money to benefit the now. Easy to do? No. Have you read the story of David Edwards? He thought he was doing good by handing out money to those in need. Could of been done differently I guess. He even said he gave $1,000 tips when he went out to eat. GEE how many times does one go out to eat a month. Well I think if your rich, it could be alot. Great gesture, but smart? I think that when it comes to wanting to make a positive difference, I would ask my advisor. Cuz the only thing I know you do with money is SPEND IT. Smart way is like he did. Turn your money into more money, and don’t think it could never run out if you don’t invest properly. I like the realestate idea. That could be fun……and also keep you busy so you don’t get bored causing you to purchase something expensive you don’t need. Thats what worries me. I buy a better home, better car, pay my debts, needed clothing, fill the kitchen with enough food to last all winter…………now what? LOL
rmac // August 14, 2007 at 2:16 pm
The goverment got more money than he did. I am happy for him and what he is accomplishing however I am somewhat ashamed of the tax he had to pay out. More than 50%
MaddMan // August 14, 2007 at 6:19 pm
Just give me the money and let me worry about going broke.Why would I trust my money to “financial experts”?If they’re so damn good at making money why aren’t they retired and living on a South Pacific beach?Anybody with the gift of gab can convince someone to let them invest their money for them,but nobody gives them a money back guarentee…why is that?Because they aren’t playing with their own money is why!
Juners // August 16, 2007 at 4:50 pm
LOL ya you can say that. Believe me if I knew how to handle such a large amount of money I would never pay some goofball to tell me what to do. I would just be doing it for advise as to what kind of budget I should be on for the amount of winnings I had. David Edwards could of lasted forever if he had spent roughly 1 million a year max. His financial advisor (according to website about him) had placed 16 million of his winnings in accounts made to draw interest of some sort. Instead he had blown 12 million in the first year….and was continuing to spend on un-needed items. He even purchased a 4.5 million dollar company, and a 1.5 million dollar mansion the first year. Not to mention art work decor, rings, watches, cars etc. Went crazy? Yeah. I mean if you want to go out “Partying like ah Rockstar” thats cool. I would totally want to make mine last. I mean I’ve had so much financial difficulties in my life that if I had the oppertunity to never have money trouble again…I would do anything not to mess it up. What would you spend your winnings on?
Juners // August 16, 2007 at 4:56 pm
http://tkcollier.wordpress.com/2006/05/04/powerball-winner-losing-home-in-auction/
http://www.browardpalmbeach.com/2007-07-16/news/powerfall/1
Juners // August 16, 2007 at 5:03 pm
If second link to David Edwards does not direct you directly to his article try:
http://www.browardpalmbeach.com/2007-08-16/news/powerfall/1
Constable Odo // August 16, 2007 at 5:06 pm
If he’s got $85 million, why does he feel he needs a billion dollars? $85 million isn’t quite enough for his satisfaction? Ultimately, if he reaches his $1 billion mark, what will he do, attempt to parlay it into $2 billion. It’s none of my business how he chooses to handle his money, but I’m curious. With $85 million he can still do a lot for people less fortunate if that’s his goal. Money is meant to be used. How he uses it is his decision. I’m glad that people burnt through through their lottery winnings by spending it on hookers and gambling. If they enjoyed it, then hurray for them. They lived their lives the way they wanted to for a while. That’s the breaks if they lose it. Life’s full of ups and downs. Brad could die tomorrow and lose it all. I hope he’s got it willed to some foundation or something. I also hope he’s not holding back for the $1 billion goal.
Anyway, good luck, Brad. You deserve your winnings as much as anyone else.
sictransitgloriamundi // August 19, 2007 at 1:49 am
“If he’s got $85 million, why does he feel he needs a billion dollars?”
Why would he have to justify that?
If he’s responsible, he’ll have the billion. It’s in circulation, benefitting others. It’s not just sitting in a vault underground with a security guard watching the paper rot.
It’s not about numbers. It’s about utilization; the mutual benefitting of individuals.
Anonymous // August 21, 2007 at 6:46 pm
It’s not about making a billion dollars out of 85M
Its about he journey. If some one said you won $5.00 in a bingo game, you would pocket the money and shrug your shoulders. People with money , real money, know how to handle it.
People who are financial planners usually make in the neighborhood of 6-7 figures. He is a pro at what he does. People who make fun of one is totally uneducated in the field of money.
You wouldn’t go to a dentist for a back problem would you? Hence a financial planner. For those of you that don’t think you need one, better find an opening at the car wash in Ohio and get in line for that job!
a.g // August 23, 2007 at 11:11 am
yo i am so sick of these dudes winning 100 million and playing it safe lets face it the lottery is a ridiculous and lovely notion god bless its weirdness i think you have 2 responsibilities 1. donate lots and lots to really good and useful charities and get involved with the free time you now have cancer kids, aids whatev. 2. you need to go nuts you quite literally could be hit by a f’ing bus tommorow and if you asked that person what they would do if they had even one week with 100 million before they got hit by the bus they would buy five asian strippers a pound of blow and ride around town in a 24k gold firetruck life is too short to be some boring ass wise investment (obviously save some fer the kiddies) planned out strategy go to work play it safe no trans fats meet those deadlines deadlines fret over everything mountain biking 401k starbuck buying assholes who wouldnt know how to have a good time if it came up and bit them on their carefully planned asses
Anonymous // August 23, 2007 at 4:52 pm
I’m glad this guy has done all his maths, he seems like a smart guy, he’s in good shape, college educated, however, he seems to have forgotten the most important equation of all, human mortality! It would be a shame for someonelse to blow the money.
My best advice to anyone is to invest some, save some, and enjoy life.
Mary Lopez // September 4, 2007 at 4:39 pm
I think its great to hear a good story about a lottery winner. Im tired of hearing many stories about winners not having any money left after hitting the jackpot, its really sad. Well I have been playing the lottery for about 5 years, nothing yet. Ive always wonder how would my life change if I ever win, well I always do research on lottery winners and other sites that can help me if I ever it the BIG ONE. I may not be perfect but I am human, I know I will do alot of things that I cant afford to do now. I live in a really bad area, live off of SSI, and cash aid, so I know i will do some exciting things with my money. But other than that I love this story about Brad and if I ever win I think I would get a hold of him.
Heinrich // September 12, 2007 at 7:19 am
What you all are missing is that if he only invests $5-$10 Million he could be earning interest of $20 000.00 - $40 000.00 per month@5%per annum.
Thats a lot even in the US He would be able to buy luxuries and help out his family with a thousand or so dollars each each month while the other $75million grows. And even if he uses say 20% of the growth on the 75million he would still get near the billion mark without having to be a scrooge.
He could live a wealthy life without losing his money.
The best use for lotto windfall is
1. Interest account - acts like salary
2. Investment for Growth of money - including 10% of total to start small business that can be grown bigger and help people by employment(if someone comes to you with sob story give them a job)
3.Family foundation
4. Have a detailed will and leave not a single sent to your family- let all your assets be carried to a trust when you die and let the income of the trust be distributed among the family members.
And by the way I am a financial advisor from South Africa telling the yanks how it should be done.
OhHenry // September 13, 2007 at 12:40 am
Heinrich,
If you’re a financial adviser, why wouldn’t you be able to spell “cent” properly?
Honestly people,
If you can grow $85M into $1B, you can help a lot more people for a lot longer. It sounds to me like he’s helping people by employing them, and giving others a place to work out. Once he’s multiplied that times 10, who knows how many people he’ll be able to help.
irishsof // September 17, 2007 at 11:21 am
The goverment got more money than he did. I am happy for him and what he is accomplishing however I am somewhat ashamed of the tax he had to pay out. More than 50%
Not true. He won a $220 million jackpot, but you only get that amount if you opt for the annuity; that is, if you chose to collect it for years and years. If you opt for the cash payout at once, it is usually around 1/2 the jackpot, or a little more. If he ended up with $85 million after taxes, his cash payout was somewhere around $128 million before taxes (at the highest federal tax rate of 33%, not counting state and local taxes).
Interesting post, Jeff. I had read about this guy recently.
Heinrich // September 20, 2007 at 4:20 am
OhHenry. Well at least you do agree with me on one thing and that is by growing his millions he can help a lot people than throwing around cash and ending up broke.
I was frustrated by the lack of insight by the other comments left. (Yes I did see the spelling mistake , but you missed all the language errors due to haste that I made)
Some of these guys thought the guy was a scrooge for trying to grow his money. Try telling Donald Trump that.
If someone wise wins the lotto they can start businesses focusing on employment/ simply helping through charity.
Personally I believe that a combination of charity and self empowering should be used .
So in essence you help someone out , equip them with skills, tools or oppertunity and then they can help themselves.
tulin // October 3, 2007 at 8:03 am
Yes that certainly is a lot of money. I always wonder why someone that has 85 million would want 1 billion? I think I would like to set up free schools and hospital in 3rd world countries. I find it fascinating what people spend their money on. I personally think I would rather help people that have no food and no families or education. Anyway that is just my opinion.
Sheila // October 17, 2007 at 2:16 pm
Brad is doing the right thing. I think it is interesting how he “knew” he was going to win. A lot can be said for positive thinking and visualization. I have used it in my life and it works!! The Secret is a great DVD - watch it and empower yourself. When I win the lotto I will do the same as Brad. He has mapped out a great plan. I agree with Heinrich rather than give someone charity equip them with the tools and skills necessary to acquire their own wealth. There is enough in this world for all of us - change your thoughts CHANGE YOUR LIFE
dazmom // October 25, 2007 at 11:24 am
Heinrich, I do have the skills - a Bachelors Degree in MIS, a minor in Business, and an emphasis in Information Security and Accounting, but that’s not helping me get a job. I’m either over qualified for the clerical/secretary/office positions OR under experienced for the jobs with which I have the qualifications to perform. What do you do then when you do not have the money to relocate/travel to cities which do have the positions available?
von // January 24, 2008 at 3:08 am
WOW! Thanks for sharing.
Real Lottery Winner // January 25, 2008 at 5:59 pm
Good story! Being a lottery winner myself, I can definitely relate to him!
Gayle // January 30, 2008 at 5:39 pm
To those of you that really want to win the lottery….as God said to the man who was praying for a windfall…”First you gotta buy a ticket!”
JBuck // January 30, 2008 at 6:54 pm
This got me thinking about some advice I got from George Divel and it seem like a good idea. But again its depends on your present financial condition.
next lottery winner // January 31, 2008 at 2:35 pm
I WANT TO WIN LOTTERY!!!!!!!!!!. GOD, PLEASE GIVE ME THE BLESSING
Another childhood friend of Brads // February 2, 2008 at 6:50 pm
I have known Brad since Kindergarten in Mrs. Thomas’s class, always a stand up guy always drove a crappy car (blue 280 z in high school) had a hot girlfriend named heather. We would go ride motorcycles in his back yard. The guy has always been smart cautious and athletic I am incredibly proud of what he has done. If anyone in our graduating class of 93 students could handle this he is truly one of the few. I do hope he threw out his tank tops though. I love his parents both hard working incredibly friendly people.
drmike // March 3, 2008 at 1:07 pm
A lot of them get sued by everybody who can dial a lawyer from the phone book.
louis // March 6, 2008 at 7:22 pm
I know that I’m going to win soon, but when I do, I’ll be inspirational for most people. I mean helping poor kids and the homeless.
louis // March 6, 2008 at 7:24 pm
I want to win the lottery for one reson. I want to see how people react to you when you have money. Most people would ignore you and you pretend you don’t exist. I really want to see peoples reaction when you have .
MichaelMR2 // March 15, 2008 at 1:31 pm
1st Question… Is he happy?
If the answer is yes…then what does anyone care how he spends (or doesnt spend) his money.
24K firetruck.. baaahhh.
TTrapp // March 19, 2008 at 8:50 pm
Brad I think you’re doing a great job at investing and having a plan. I too have a plan when God blesses me. My family will be taken care of and I will invest as well, so they nor I will have to worry anymore where the next dollar comes from. Keep up with what you are doing and don’t worry about the ones who don’t agree. Free will is what it’s all about.
Tarumba // April 8, 2008 at 9:00 pm
All those pageant answers are so annoying! “I would build schools in third world countries”, and then what? The schools are built and you’ll do the maintenance forever? No, that’s why you need to make sure you have an income and enough profit so you can help for a considerable amount of time.
The best way of helping is ensuring YOU and YOUR FAMILY have enough funds first (if you’re lucky enough, for life), and then you start thinking about helping the rest of people. If not, you’ll start something, it’ll be cute for 5 years the most, and then you’ll have an abandoned project and empty pockets.
I don’t know if you people are naive or extremely pressured by hypocritical social standards, but please! If one of you really ends up winning the lottery, PLEASE don’t go all stupidly generous, it’s no good for anyone.
Zman // April 22, 2008 at 3:42 am
With good sence you can make the money out live you and your relatives. If you have a passion then start small and test your business skills. After a year or 2 you will know if you going to make it. I think the best way to go would be rebuilding houses and reselling them. Or…. Live on 1/2 the interest income and let the rest compound. Lets see… 85 million at a lousy 5% divided in half would be over 200K a year before taxes. The other 200K added to the 85 million would give you a $10,000 raise every year minus taxes… Yes… life would be very good as a multi millionaire. I am looking forward to that segment of my life commencing as soon as possible ! While some might say $200 K a year is not enough compared to the 85 million… who cares what “they” say once the money is in your possession ? The purpose of life is Joy! Do what you can for other people and happiness is assured if you do it expecting nothing in return but a sincere thank you.
Bill // July 15, 2008 at 10:52 pm
As a math teacher I can attest that his betting strategy was fundamentally flawed, and is what’s known as the “gambler’s fallacy”.
(I know it seemed to work for him, so lay off with your pschobabble replies). Betting on numbers that are “due” to be drawn is no better than betting on random numbers or numbers that appear more frequently than others. Casinos know this…that’s why they put up those electronic signs at the roulette table. The draw of lottery numbers are independent events; the ping-pong balls have no memory of being drawn in the past, therefore each draw is just as likely as another. His “research” was just plain luck!
Diane Mullins // August 10, 2008 at 7:11 pm
All my life i adopted kids took care of everyone even gave up everything i had to come to kentucky to get cosody of my husbands daught er witch now lives with us so now i have to start all over i’m 47 and worked tree work and landscape i play the lottary to hope one day to be where you guys are.I have always done good i wish i could get that brake just to be able to get a buckette truck and claw truck and stump grinder for my buss that is my wish maybe one day something good will happen for me god bless all of you . Diane Mullins of n.kentucky
katy // August 25, 2008 at 4:31 pm
Why do people act like lottery money is ill-deserved by winners?
Dianne Mullins is the perfect example of why people think they deserve something from life. She makes her choices, but gives guilt trips thinking everyone else has more.
We don’t have anything. Your begging on your own behalf, gets nothing.
I’ve begged for a neighborhood, begged for kids’ benefit and people gave. Not once would I ask for myself. As long as I have a roof and food, it’s not about me.
Diane, I’m sorry you hate your life. Stop adopting kids and expecting something. If you think everyone else has money, that’s your first mistake. Your blatant expectation and plea, grosses me out. How do you assume all respondents to this site have money?
You’re scary and I think, “ewww!” The topic is lottery winners, doesn’t mean the respondents are winners, with money, as you assume.
I’m a little ill.
Eric // September 7, 2008 at 6:24 pm
Fascinating subject. It must come as a shock to some of these winners that their prize money doesn’t make them immortal and omnipotent.
Tim Singleton // October 6, 2008 at 8:03 am
Good for him. You know, he probably would have made himself into a millionaire anyways.
I am sure that not only will he take care of his family and make his billionaire goal, but he will create jobs and help charities along the way, too.
Thanks for such a positive story in a time of so many negative ones.
-Tim
John // October 29, 2008 at 5:42 pm
I would be real curious what his net worth is today. He had to be pretty aggressively invested to be on a 12 year to $1b pace. Given the market performance over the last 2 months, he may have to re-set his expectations.
jared // November 12, 2008 at 4:55 pm
stop being a bitch.
tony bologna // November 14, 2008 at 3:46 pm
ha ha ha!!!! this is rad. this guy is successful and lucky just like me!! i think that all of you haters should start doing things in life that make you happy. stop worrying about this dude that has nothing to do with you! just live your dream man! it might happen to you then worry about you don’t be like i want to be like that scrooge brad…. be like you and do your thing man. make it grow or make a girl blow you! who cares, don’t let them grade you like a highschool teacher. go surfing or ride a harley really fast. would those sob stories do what they want from you, for you without having to ask. hell no!! be real have fun and give your kids a pink belly!!! drink a forty then do some graffiti. thats like forty bucks you don’t need millions. love and fun, one!!!!!
GK1 // December 7, 2008 at 6:22 pm
Sounds like a master plan to ensure Brad never has to work again. I personally don’t know Brad but I have a friend who also won the lottery and pocketed 16 million as a cash option. Right off the bat, Bob said he was going to pay off his house, his parent’s house and set up a trust fund for his family. Family is important to him. Yes, yes..a bunch of so called friends came out of the wood work looking for a hand out, claiming all kinds of sad sobbing stories,,,Bob never gave in. He did hire a financial adviser, even though he holds a masters degree in business. Earning 6 figures a year, Bob was never a person to squander money or buy on a whim.
Winning the lottery didn’t really change him all that much.
I’m glad to see that there are “some” responsible
lottery winners that make the money work for them instead of just blowing it in Vegas or on million dollar homes only to find out later in life that you can’t afford the property taxes.