Learn How A $27 MILLION Jackpot Winner Went Broke In 5 Years

[jesusshuttlesworth34]

I'm sure he said the same thing all of you are now.

Always easier from the outside perspective to say what you would have done differently.

 

[truballa101]

Most people don't grasp the simple concept that even though you have this large sum of money, it is meant to STRETCH through your lifetime and then some (invest some for your offspring maybe?)

EDIT: I believe about 70% of big lottery winners go broke within the same span anyway

 

[h8menow]

I'm sure he said the same thing all of you are now.

Always easier from the outside perspective to say what you would have done differently.

You're right. When he won he said

"I didn't want to accept this money by saying I'm going to get mansions and I'm going to get cars, I'm going to do this and that," he said while accepting his check. "I would like to accept it with humility. I want this money to last, for me, for my future wife, for my daughter and future generations."

 

[executive76]

.

 

[fly23s]

YOLO to the fullest

 

[airthompson]

I'm sure he said the same thing all of you are now.

Always easier from the outside perspective to say what you would have done differently.

Right. It's easier to blow money you didn't work hard to earn.

 

[ravagebx]

The first thing I would do if I made that kind of money is spend money figuring out how to preserve it.

 

[thunderchunk69]

Dude bought a jet.

I don't think he factored in the money that needed to be spent to maintain that kind of lifestyle. No foresight.

Edwards spent $1.9million on this LearJet

eh, he could have afforded it if it wasn't for the cars.

 

[Bert.]

not surprised. remember seeing this guy on TV multiple times.

RIP to him tho

 

[durden7]

So many people saying theyd manage their money well, save it..... and im sure some of these same people are the ones buying stuff they dont need on black friday simply because its "a deal".

 

[executive76]

Dude bought a jet.

I don't think he factored in the money that needed to be spent to maintain that kind of lifestyle. No foresight.

Edwards spent $1.9million on this LearJet

eh, he could have afforded it if it wasn't for the cars.

Cost of a jet is one thing to operate/maintain it is another.

Depending how much you use it 380-800k+ per year just to operate. Not including taxes and whatever else you need.

 

[lovehateself]

key point in his downfall, his drug addiction.

i bet most of his purchases were while he was under the influence of something. 

 

[Coromanti]

Sad man.

 

[miamiboy]

Sad man.

Its not sad, its pitiful. Dude had the chance of a lifetime and ****ed it away.

 

[heliumclinton]

I'm sure he said the same thing all of you are now.

Always easier from the outside perspective to say what you would have done differently.

Right. It's easier to blow money you didn't work hard to earn.

It's also different when you have a house and a car and when the lottery oppose to someone who doesn't have anything. IMO

 

[Bert.]

key point in his downfall, his drug addiction.
i bet most of his purchases were while he was under the influence of something. 

when you have mass amounts of money you use a lot of it on drugs because you can buy as much as you want.

i remember there was an update on him before he passed awhile back. he did use a lot of it on drugs.

had he been clean, he would stil be alive, probably still be broke by buying idiotic things

 

[blakmn89]

Sucks how money change ppl in bad ways smh. Sad example of money being the root of all evil

 

[crcballer55]

Drug addiction, DOZENS of cars, a lear jet (w/ Pilot & maintenance) and an oversized house? States need to start implementing the NBA/NFL strategy of educating people on money when they win instead of just handing them their demise. Both pro athletes & lotto winners have an absurdly high rate of bankruptcy because most people in both categories go from nothing to millions overnight.

 

[rellireloaded]

Remember seeing this dude on one of those curse of the lotto shows. Dropped like $500K on a security system for that house.

Still must've been one hell of a ride

 

[rell826]

eh, he could have afforded it if it wasn't for the cars.

He definitely could have made the money back that he'd spend on maintenance if he rented it out to other people like those with jets do.

 

[orsrt8]

Its crazy that in todays world 25mil aint even a lot anymore. Especially living in LA. I honestly would still keep my job for 2-3 years if I won 25mil. Knowing that you have that in the bank would change anyones attitude at work lol. I'm still young enough to wait a few years to quit, it pays well and I have good benefits (even after Obamacare) . My wife and I haven't had kids yet so I would at least wait until we have them to take advantage of them lol. Just take some extravagant vacations in the meantime but once the kids come Im out!

 

[yeah]

Its crazy that in todays world 25mil aint even a lot anymore,

It is a lot. But 25 million can be spent fast when you live life like you have 25 billion.

It's levels to this.

 

[|A-Man|]

I could spend 27 mil in 2 months easily so I aint surprised.

I know those 5 years were fun for dude. He should've just committed though and put some stuff aside so he could return to his regular life after spending all that money.

 

[SoleByThePound]

It's easy for one to say that they'd spend their lottery money conservatively... Until you actually win it.

 

[buggz05]

My mother always says, "You can't take it with you."

RIP to the man.