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Man wins £9.7 Million & blows it all in 8 years

Discussion in 'BlackHat Lounge' started by tacopalypse, May 31, 2010.

  1. tacopalypse

    tacopalypse Executive VIP Jr. VIP Premium Member

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  2. Chronos

    Chronos Junior Member

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    How in the hell do you blow that much money?

    I heard a story like this before. This guys sister I worked with won 2 million dollars and blew it all within' a year. She bought a huge house and spent the rest on SHIT. She ended up being so broke, she couldn't pay the property tax for the house she lived in, and it was taken by the government. She now lives off welfare.

    Such a shame.

    Makes me so sad/mad when I see people fuck up this bad with that amount of money.
     
  3. w84it

    w84it Regular Member

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    Financial Intelligence... its what we don't learn in schools :(

    Money go up -> Expenses go up and before you know it your expenses exceeds your income and you are stuck in the rat race.

    (Rich dad poor dad :D)
     
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  4. hollaholla

    hollaholla Newbie

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    this guy bought drugs and did banger racing in his garden. Ths is what any pikey would do with that amount of cash!
     
  5. Big Bad Wolf

    Big Bad Wolf Newbie

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    It's the problem with winning money.
     
  6. xXSebaSXx

    xXSebaSXx Registered Member

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    You'd be surprised. There was a special on The Learning Channel h ere in the US. It was called The Lotter changed my life... They had the story of a Florida man that won over 40 Million and was broke and evicted out of his West Palm Beach mansion in less than 10 years. How can that happen? Easy... It takes quite a bit of knowledge to manage money, especially at those levels and people that haven't been exposed to that kind of money tend to go crazy and over-spend... This guy in particular was buying home decor for his new mansion like it was going out of style.... He spend over 400K on two statues that I'm sure his decorator picked up for less than 10K each. But being a hick from the south he didn't know better and paid up just because the decorator told him it would make his house look classy.
     
  7. syngenetic

    syngenetic Guest

    Freaking idiots...they don't deserve to win any money! He's better off as a binman.
     
  8. hobom

    hobom Newbie

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    WTF thats 14.1 million us
    If he just invested 5 million with a 5% interest rate, he'd still be making 250k a year
     
  9. voidale

    voidale Jr. VIP Jr. VIP Premium Member

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    this is why you better make the money and not win it, knowledge to manage money and use your money better is Price less...
     
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  10. Chronos

    Chronos Junior Member

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    True, usually when you earn the money through hard work, you've already learned how to manage it. Not always, but most.
     
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  11. Vance

    Vance Newbie

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    Exactly.
     
  12. trafficsource

    trafficsource Jr. VIP Jr. VIP Premium Member

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    life is for livings not savings
     
  13. deancow

    deancow Power Member

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    Glad he lost his money, that guy has been known for being a total tosser.
     
  14. Fireboltgirl

    Fireboltgirl Regular Member

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    Consumption problems. Raised to think if you have money you spend it...
     
  15. eplekedut

    eplekedut Registered Member

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    very expensive lesson !:)
     
  16. kingpin123

    kingpin123 Registered Member

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    HE became rich not wealthy surely he will blew that money away
     
  17. TheInternetHustler

    TheInternetHustler Regular Member

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    What a tard, even if I did just spend my money however I wanted and not invest in anything, I wouldnt run out for a long time, Id be set. I dont give a shit about cars and youd still have a lot after buying a legit house. I dont get why people spend money just to spend money, I have too much fun shit to do to waste my time shopping. If that 9.7 was after tax(even if its not its still alot) that would be 12,000,000 USD which would be $500/day for like 65 years, I can have a lot of fun blowin $500 a day. If you invest that shit in gold or something you keep earing money off your money too...
     
  18. somekidsteacher

    somekidsteacher Newbie

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    Sadly this is true of many lotto winners. The reason they needed to win in the first place was because they did not understand money principles. After winning the money they still didn't know the priciples so the financial intelligence was the same but only with larger numbers. It is only a matter of time before the money runs out.
     
  19. repsolman

    repsolman Junior Member

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    if he would have invested 1 mill on an apartment or something, he would have a nice income off that for years to come. but he had to spend all his money on rock :/

    You gotta learn the value of the dollar son, or it may teach you a lesson :p
     
  20. mil0x

    mil0x Power Member

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    Looking like Rooney without having the same paycheck may even be more ridiculous than blowing around 12 million euro's on 4 prostitutes a day for 8 years long? I'm glad he is a binman again.. Bad things happen to people when they don't know how to deal with cash.
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