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Brooklyn Teen Wins $1,000 For Life From Lottery Scratch-Off Game [Weekly for Life]
Yahoo Finance ^
| June 13, 2012
| Jill Krasny (Business Insider)
Posted on 06/14/2012 11:45:57 AM PDT by QT3.14
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To: SoothingDave
There are lots of places in the country where you can have a very good life on 52000 a year.
If one spends wisely
To: QT3.14
22
posted on
06/14/2012 1:30:17 PM PDT
by
Liberty Valance
(Keep a simple manner for a happy life :o)
To: riverrunner
Yes, but it’s not “I won the lottery I can buy anything I want” money. It’s “I’m comfortable enough to choose what I really want to do with my life” money.
To: Liberty Valance
He’ll keep getting checks. The lottery guarantees 20 years of payments, it doesn’t limit you to 20.
To: MasterGunner01
Unless this kid has a strong moral compass and supportive family, his $1,000 per week for life is going to destroy him. Acquiring wealth in this manner usually does not end well foe those who do.That's only $52K/year. It's not piddling small change, but he'll not be a 1%er with just that. It would be pretty sweet to have that as a guaranteed floor though.
25
posted on
06/14/2012 5:33:07 PM PDT
by
zeugma
(Those of us who work for a living are outnumbered by those who vote for a living.)
To: QT3.14
Bankrupt inside of five years. Like most Lotto winners.
26
posted on
06/14/2012 5:48:32 PM PDT
by
Cyber Liberty
(Obama considers the Third World morally superior to the United States.)
To: zeugma
No, $52K a year is not chicken feed (except in NYC), but there are far too many people who strike it rich and five years later the money is gone (squandered) and they are lining up for welfare or bankruptcy. Instant wealth like this both a blessing and a curse. There are plenty of newly rich folks who have discovered this to their despair.
To: QT3.14
Now he can learn all about the Taxman...
28
posted on
06/15/2012 4:25:35 AM PDT
by
Smokin' Joe
(How often God must weep at humans' folly. Stand fast. God knows what He is doing)
To: SoothingDave
Knowing you have the back-up of 52K a year can give someone otherwise reluctant to take the sort of risks to start a business a bit more confidence. Starting with whatever is left of a Million as backup/initial capital isn't bad, either. It's one heck of a leg up to better things if he plays it right.
If he goes nuts and starts spending it on all sorts of junk or partying, he's likely going to suffer more than benefit, and may not live to collect for long.
I pray, for his sake, he does well with it and avoids the common (and not so common) pitfalls of windfalls.
29
posted on
06/15/2012 4:34:52 AM PDT
by
Smokin' Joe
(How often God must weep at humans' folly. Stand fast. God knows what He is doing)
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