Skip to comments.Mother who won $3M at 16 now has just $3,040... and couldn't be happier
Posted on 07/21/2013 4:05:23 PM PDT by GrandJediMasterYoda
Mother who won $3M at 16 now has just $3,040... and couldn't be happier From NEWS.COM.AU Last Updated: 10:15 AM, July 17, 2013 Posted: 10:11 AM, July 17, 2013 A British woman who won $3 million when she was aged just 16 now has just $3300 left, but insists she's never been happier.
Callie Rogers scooped the jackpot in 2003 but said she was too young to win such a large amount and wasted it on property, expensive holidays and nights out with friends.
Now a mother-of-three, Ms Rogers said the win had left her with nothing but trouble and without a sense of purpose.
The 26-year-old now works as a carer and lives in a $130,000 home after a decade of relationships and partying that sent her broke.
"It was too much money for someone so young. Even if you say your life won't change, it does and often not for the better," she told The Sun.
(Excerpt) Read more at nypost.com ...
and if she needs help to take care of her three children, “we” wiil be more than happy to assist. Hey, go have another if it makes you happier. /s
Biology, what's that?
$415,000 on cocaine? Wow. That must have been a heck of a party. /s
Meanwhile, she keeps “falling pregnant” and does not bother to marry first. Disgusting.
I wonder if any of her kids could look like obamma
1 Million in an annuity, buy a home a car and put 500K away, and spend the rest...
Guess the accountant said: "One word. Cocaine."
Ok, will do. Thanks. ;)
The conservative principal was put out to pasture by 1978 and replaced by a liberal principal who allowed jeans and sneakers and eliminated home economics courses, but fortunately I learned enough basic economics to establish life-long habits that have allowed me to build wealth and raise myself above the working class - despite never having the "advantages" that well-born people have.
Ill gotten gains —but UNDERSTAND why it seems like there are so many of these stories:
The media LOVES these stories and splashes them around more liberally than when an innocent neighborhood watch guy saves his life from a criminal.
ANY times someone gets loads of random cash and then it goes away these socialist reporters are going to smoosh that in your face 10,000 times.
The media panders, and then also they’re socialists, and THIS type of story is when those two seperate impulses come together, like the instant two huge waves meet.
You’d be amazed that ANYONE just goes off and has a good life —what usually happens.
Had I won such an amount at age 16, I don’t have the slightest doubt in my mind that I would have a larger amount today (35 years later).
How are they "ill gotten"? She won the money in lottery, she didn't steal it.
Back in the 1990’s, coworker’s 16 year old son was in a car accident and had a brain injury. He had to go through rehab and all and eventually ended up with a six figure settlement. His parents made sure he couldn’t get his hands on the money until he hit adulthood and often talked with him about being responsible with the money. When he turned 18, he worked at getting his hands on all the money. He did. He got a loan for a ranch home and moved all his freeloading friends in. Partyville, USA. He ran through the money in less than three years.
And is perfectly happy.......What more needs to be said other than the fact the article certainly doesn't delve into what those property investments were or whether the current house is paid for. (which I suspect it is)......
” having spent $415,000 on cocaine.’
As you said where were her parents — they had the right to handle her funds when she was 16, she wasn’t legally an adult.
“When I was in public elementary school back in the 1970s, we had a conservative principal who ensured that students (in elementary school) got a strong background in economics. As a result, by the time I was in 7th grade, I knew about the rule of 72, dollar cost averaging and the concept of annuities, among other principles of building wealth”
This is where education fails mightily today. Young people with no concept of money.
Have to remember that phrase “fell pregnant”, just so funny!
I had a friend who was a principal at a lower income school. One of the students "won" a settlement of around $100K in a car accident. And they we not crippled/disabled. The student said: "I'm never working again!"
So my friend calmly took her aside and told her OK, this seems like a lot of money, and it is. But let's talk.
You graduate next year. and will move out of your parent's house. You'll have to pay rent, utilities, insurance, etc.
And she ran the numbers for the student. She could live an "average" existence for about 10 years. IF she didn't blow it all on cars and jewelry and "fun".
The student had no concept of how fast $100K can get spent.
I don't really blame her.
But honestly, even at 17, I'd buy a reliable car, and keep working.
It’s common in the British press. What really got me was that the couple “fell pregnant,” not just her.
At 16? No annuity. Buy a car and home. Have some fun. Heck she could have blown $1M and still have $2M to invest. Given her long time horizon she could have diversified the money across the board with heavy weighting in domestic and international stocks and she would have done well. Get a low stress job, retire at 50. What a waste.