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Winning the Lottery: Is There a Downside?
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Olivia_WebMD_Staff posted:
This weekend, some folks found themselves quite a bit richer for playing the Mega Millions lottery. Though the winner or winners are not yet known, the jackpot available was said to be the largest in history at $640 million.

When the lottery numbers are big, the stories begin to surface about past winners who didn't find themselves so lucky after winning what they had thought was going to lead them to a lifetime of luxury and happiness.

Is there a downside to winning all that money?

Do you think you'd fare differently?

What would you do first if you found out you won?
11 Replies |Watch This Discussion | Report This| Share this:Winning the Lottery: Is There a Downside?This weekend, some folks found themselves quite a bit richer for playing the Mega Millions lottery. Though the winner or winners are not yet known, the jackpot available was said to be the largest in history at $640 million. <br /><br />When the lottery numbers are big, the stories begin to surface about past winners who didn't find themselves so lucky after winning what they had thought was going to lead them to a lifetime of luxury and happiness. <br /><br />Is there a downside to winning all that money? <br /><br />Do you think you'd fare differently? <br /><br />What would you do first if you found out you won?
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tlkittycat1968 responded:
I would talk to a financial advisor, attorney, and CPA first. DH and I were talking about that over the weekend how those sports stars have all that money but go through it buying frivilous things.

A big downside would be all those "relatives" who you never knew existed coming out of the woodwork needing "loans."

I do think DH and I would have fared differently because we talked about what we would do with the money even before we bought the tickets.
Report This| Share this:Winning the Lottery: Is There a Downside?I would talk to a financial advisor, attorney, and CPA first. DH and I were talking about that over the weekend how those sports stars have all that money but go through it buying frivilous things.<br /> <br />A big downside would be all those "relatives" who you never knew existed coming out of the woodwork needing "loans."<br /> <br />I do think DH and I would have fared differently because we talked about what we would do with the money even before we bought the tickets.
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Anon_999 responded:
1) What would I do if I won? Hmm nothing because I don't pay to play. The news said there was a guy who spent $700.00 on lottery tickets cause he thought the more he bought he'd be the sole winner. Guess that didn't happen. He basically threw his money away. I choose to keep the little I have thank you.

2) Money doesn't buy happiness it only causes more problems. There is enough stress in this world.

3) If one plays and wins trouble will follow. It is not worth it to me - I live a very simple life and love it. You can't take your money or material items to heaven with you.

When in doubt leave out.
Report This| Share this:Winning the Lottery: Is There a Downside?1) What would I do if I won? Hmm nothing because I don't pay to play. The news said there was a guy who spent $700.00 on lottery tickets cause he thought the more he bought he'd be the sole winner. Guess that didn't happen. He basically threw his money away. I choose to keep the little I have thank you.<br /> <br />2) Money doesn't buy happiness it only causes more problems. There is enough stress in this world.<br /> <br />3) If one plays and wins trouble will follow. It is not worth it to me - I live a very simple life and love it. You can't take your money or material items to heaven with you.<br /> <br />When in doubt leave out.
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bobby75703 responded:
The numbers on my mega millions lottery ticket matched perfectly. Knowing how all that money can ruin people, I tossed my winning ticket out the car window...

OK, on a serious note I do remember one lottery winner saying if he could do it again, he may not have chosen to win.
Report This| Share this:Winning the Lottery: Is There a Downside?The numbers on my mega millions lottery ticket matched perfectly. Knowing how all that money can ruin people, I tossed my winning ticket out the car window...<br /><br />OK, on a serious note I do remember one lottery winner saying if he could do it again, he may not have chosen to win.
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kiwiallright responded:
Yes there is a downside because as much as you would like to keep it quiet - it does not happen and then people who you did not think where your friends - become really buddy buddy so I have been told.

Truly if i won, I would not put a dime in the bank, as you would have to pay taxes on the interest, I would spend it as fast as I could, I would share with my children then my brothers and sister . and some of my true friends and with some of those in need.
Money helps your life a lot easier but money is the root of all evil as they say,,,,,,
Enjoy what you have
Report This| Share this:Winning the Lottery: Is There a Downside?Yes there is a downside because as much as you would like to keep it quiet - it does not happen and then people who you did not think where your friends - become really buddy buddy so I have been told. <br /><br />Truly if i won, I would not put a dime in the bank, as you would have to pay taxes on the interest, I would spend it as fast as I could, I would share with my children then my brothers and sister . and some of my true friends and with some of those in need. <br />Money helps your life a lot easier but money is the root of all evil as they say,,,,,,<br />Enjoy what you have
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Rod_Moser_PA_PhD responded:
A downside?

Yes. I would need to spend money on plastic surgery to get my smile removed.
Report This| Share this:Winning the Lottery: Is There a Downside?A downside?<br /> <br />Yes. I would need to spend money on plastic surgery to get my smile removed.
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brunosbud replied to Rod_Moser_PA_PhD's response:
You realize they'll shave your beard...You OK with that?

By the way, Doc...how do you prevent small birds from building a nest in there?
Report This| Share this:Winning the Lottery: Is There a Downside?You realize they'll shave your beard...You OK with that?<br /><br />By the way, Doc...how do you prevent small birds from building a nest in there?
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butterflygarden responded:
LOL, brunosbud. Don't pick on Dr. Moser. He's the best! I lurk on the Ear, Nose and Throat board and read his blog all the time.

Love the beard, Dr. M!

As for the lottery, I don't usually play, but I have on occasion. I think we'd all like to think we'd be the exception to the rule...the ones whose life turned out great after winning.

Like others in this thread, I think the problem might reside more in the loss of relationships with family and friends who come out of the woodwork feeling entitled to your newly-won wealth. You'd certainly find out who really cared about you, but it might be a hard and painful lesson.

If I did win big, the first thing I would do is pay off all my debt. Then, I'd set up some investments to keep the money growing.

Once all that was in place, I'd rent a bulldozer and raze my parents' house and build them a new one with all the features folks of their age would need to live comfortably. Simultaneously, I'd pay off my inlaws' house so it was no longer a worry for them.

What would I do for myself? Travel to some of the places in the world that I've always wanted to go and take my kids with me.

Here's another question for everyone: Would you quit your job if you won?

I'm not sure I would. I feel like having a job would be sort of grounding.

Butterfly
Report This| Share this:Winning the Lottery: Is There a Downside?LOL, brunosbud. Don't pick on Dr. Moser. He's the best! I lurk on the Ear, Nose and Throat board and read his blog all the time. <img src="http://img.webmd.com/community/images/smile.gif" align="top" border="0"><br /><br />Love the beard, Dr. M!<br /><br />As for the lottery, I don't usually play, but I have on occasion. I think we'd all like to think we'd be the exception to the rule...the ones whose life turned out great after winning. <br /><br />Like others in this thread, I think the problem might reside more in the loss of relationships with family and friends who come out of the woodwork feeling entitled to your newly-won wealth. You'd certainly find out who really cared about you, but it might be a hard and painful lesson. <br /><br />If I did win big, the first thing I would do is pay off all my debt. Then, I'd set up some investments to keep the money growing. <br /><br />Once all that was in place, I'd rent a bulldozer and raze my parents' house and build them a new one with all the features folks of their age would need to live comfortably. Simultaneously, I'd pay off my inlaws' house so it was no longer a worry for them.<br /><br />What would I do for myself? Travel to some of the places in the world that I've always wanted to go and take my kids with me. <br /><br />Here's another question for everyone: Would you quit your job if you won? <br /><br />I'm not sure I would. I feel like having a job would be sort of grounding. <br /><br />Butterfly
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JenPBDBP2 responded:
Money may not buy happiness but at least you'll have nice things to wear while being depressed.
Report This| Share this:Winning the Lottery: Is There a Downside?Money may not buy happiness but at least you'll have nice things to wear while being depressed.
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bob249 responded:
"What would you do first if you found out you won?"


I would advise publicly that I will use the money to bring harassment suits against those demanding shares.


After waiting a suitable length of time (6 months?) I would then generously share with family and friends who'd kept their traps shut.



Report This| Share this:Winning the Lottery: Is There a Downside?"What would you do first if you found out you won?"<br /><br /><br />I would advise publicly that I will use the money to bring harassment suits against those demanding shares.<br /><br /><br />After waiting a suitable length of time (6 months?) I would then generously share with family and friends who'd kept their traps shut.<br /><br /><br /><br />
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fenton04 replied to JenPBDBP2's response:
I wholeheartidly agree with that. But I would like to offer this for food of thought.
Money can t buy you happiness but it is a darn good start.....
Report This| Share this:Winning the Lottery: Is There a Downside?I wholeheartidly agree with that. But I would like to offer this for food of thought.<br />Money can t buy you happiness but it is a darn good start.....
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Jis4Judy responded:
Yes Olivia I think I would not have a problem handleing a lottery win .
The downside would be too many new friends you didn;tknow you had
I would if I won call my children and split it with them right from the start

get my phone unlisted would be a good move too LOL

Hugs Judy:)
Report This| Share this:Winning the Lottery: Is There a Downside?Yes Olivia I think I would not have a problem handleing a lottery win .<br /> The downside would be too many new friends you didn;tknow you had <br /> I would if I won call my children and split it with them right from the start<br /> <br /> get my phone unlisted would be a good move too LOL<br /> <br /> Hugs Judy:)
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