The money didn't change me...

newmann
Profile picture for user newmann
Posts
24444
Joined
4/1/2008
Location
US
newmann
Holy hell, quite the read. Dude will be broke again by New Years Day. Must have fireworks, and bourbon. Lots of bourbon.Laughing

http://www.msn.com/en-us/money/personalfinance/broke-man-who-sold-blank…

|
MR. X
Profile picture for user MR. X
Posts
6917
Joined
6/24/2010
Location
North Tonawanda, NY US
MR. X 12/29/2017 2:00pm
12/29/2017 2:00pm
Seems all to common with people that come into money .
APLMAN99
Profile picture for user APLMAN99
Posts
10100
Joined
4/1/2008
Location
Dallas, TX US
APLMAN99 12/29/2017 2:47pm
12/29/2017 2:47pm
Hey, he's stretched it out for 5 1/2 years so far, so maybe he's got a shot at selling his real estate and making do a little bit better somewhere else. California real estate has to have appreciated a little bit since 2012-2013.....
MR. X
Profile picture for user MR. X
Posts
6917
Joined
6/24/2010
Location
North Tonawanda, NY US
MR. X 12/29/2017 2:56pm
12/29/2017 2:56pm
peelout wrote:
i would buy PornHub
It's free

The Shop

See All »
XXVoid MainXX
Profile picture for user XXVoid MainXX
Posts
7733
Joined
5/25/2012
Location
Schenectady, NY US
XXVoid MainXX 12/29/2017 4:50pm
12/29/2017 4:50pm
I just bought both a Powerball ticket AND a Megamillions ticket. I can't lose!
SCR
Profile picture for user SCR
Posts
1090
Joined
12/10/2009
Location
CA US
SCR 12/29/2017 5:41pm
12/29/2017 5:41pm
"Were getting taxed to death here in California, and it's hard to survive without working"

Now, he knows how we pay for all the disability checks.

That article should go in the hall of fame.
AHRMA361
Profile picture for user AHRMA361
Posts
2469
Joined
4/1/2008
Location
NE, OH US
Fantasy
232nd
AHRMA361 12/29/2017 8:01pm
12/29/2017 8:01pm
What!! His disability checks went away after he got his windfall! What kind of country do we live in that would do that! Shocked
JRT812
Profile picture for user JRT812
Posts
2730
Joined
3/4/2014
Location
Cottontown, TN US
JRT812 12/30/2017 4:03am
12/30/2017 4:03am
Stupid. Why 2 homes with no income...
White_Trash 12/30/2017 1:19pm
12/30/2017 1:19pm
Foolish to think 1 million is enough to live a life of luxury without working.
JRT812
Profile picture for user JRT812
Posts
2730
Joined
3/4/2014
Location
Cottontown, TN US
JRT812 12/30/2017 1:25pm
12/30/2017 1:25pm
White_Trash wrote:
Foolish to think 1 million is enough to live a life of luxury without working.
Especially in California
Ebs
Profile picture for user Ebs
Posts
838
Joined
6/1/2014
Location
MI US
Ebs 12/30/2017 2:17pm
12/30/2017 2:17pm Edited Date/Time 12/30/2017 2:19pm
White_Trash wrote:
Foolish to think 1 million is enough to live a life of luxury without working.
It would take some discipline, but someone could live pretty well off returns on investments. Not luxury, but at least somewhat comfortably.

This guy went the shiny new car route.
MR. X
Profile picture for user MR. X
Posts
6917
Joined
6/24/2010
Location
North Tonawanda, NY US
MR. X 12/30/2017 2:27pm
12/30/2017 2:27pm
A million is certainly enough money to not need an alarm clock anymore . Not baller R8 or custom mopar money .
Naanak
Profile picture for user Naanak
Posts
625
Joined
9/9/2014
Location
NJ US
Naanak 12/30/2017 2:54pm
12/30/2017 2:54pm
$10000 a year in taxes for 2 houses? Seems cheap compared to the shitty state of N.J. I always thought Cali was the most expensive.
APLMAN99
Profile picture for user APLMAN99
Posts
10100
Joined
4/1/2008
Location
Dallas, TX US
APLMAN99 12/30/2017 5:01pm
12/30/2017 5:01pm
He probably only ended up with about 750K, which IS a lot of money not exactly rubbing elbows with Bill Gates.

Sounds like his disability is legit, lost his leg in a car accident. Surprised that he lost his disability payments, his leg didn't suddenly grow back or anything.

Sounds like the second home is a rental, so sounded like good intentions but may have tied up too much cash.

The real estate purchases were probably decent investments, even if by accident. It'd be hard to believe that there isn't decent appreciation in that area since he sold the blanket.

If he'd have taken that money and put it into strictly income producing investments, not playing the market like a young guy, he'd have probably grossed less than 30K per year.

It sounds like the gist of the story is that the windfall had some really big positives and some unforeseen (to him) negatives more than him being a total dumbass. It looks like people thought he sold the blanket just a few months ago and he'd blown through the money. But he sold it in 2012, and he doesn't appear to be bankrupt right now.
avidchimp
Profile picture for user avidchimp
Posts
4551
Joined
7/9/2008
Location
Thousand Oaks, CA US
Fantasy
1182nd
avidchimp 12/30/2017 7:24pm
12/30/2017 7:24pm Edited Date/Time 12/30/2017 7:25pm
White_Trash wrote:
Foolish to think 1 million is enough to live a life of luxury without working.
Ebs wrote:
It would take some discipline, but someone could live pretty well off returns on investments. Not luxury, but at least somewhat comfortably. This guy went the...
It would take some discipline, but someone could live pretty well off returns on investments. Not luxury, but at least somewhat comfortably.

This guy went the shiny new car route.
Not even close to being accurate. Unless you live in a shit part of California, no way a million before taxes will sustain you here without secondary income.

Then again, I live in a really jacked up area income-wise.
White_Trash 12/31/2017 12:29pm
12/31/2017 12:29pm
White_Trash wrote:
Foolish to think 1 million is enough to live a life of luxury without working.
Ebs wrote:
It would take some discipline, but someone could live pretty well off returns on investments. Not luxury, but at least somewhat comfortably. This guy went the...
It would take some discipline, but someone could live pretty well off returns on investments. Not luxury, but at least somewhat comfortably.

This guy went the shiny new car route.
I make a decent middle class income... If I stumbled upon a million, I'd pay off the house and my tiny bit remaining on my truck, maybe take an actual trip somewhere, but I sure wouldn't quit working... Sure, I'd be able to invest some here and there, but I wouldn't give up my career... I might buy the shop coffee run more often tho.
Some places a million hardly buys you a decent home with a yard.
GeorgiePorgie 12/31/2017 4:28pm
12/31/2017 4:28pm
White_Trash wrote:
Foolish to think 1 million is enough to live a life of luxury without working.
Ha. 1 million? Need atleast 4-6 to retire. But you also gotta be 65 years old minimum.
agn5009
Profile picture for user agn5009
Posts
6757
Joined
6/8/2012
Location
State College, PA US
agn5009 1/1/2018 4:55pm
1/1/2018 4:55pm Edited Date/Time 1/1/2018 4:57pm
White_Trash wrote:
Foolish to think 1 million is enough to live a life of luxury without working.
It sure would help me pay off my house and.... Uh that's it. I don't have any other loans. I could put a mill to good use and be pretty well off that's for sure. But I live in North Central PA where housing is pretty darn cheap compared to a lot of places.

Post a reply to: The money didn't change me...