I know a former school teacher who won 10 million dollars and kept working and started a college scholarship fund for low income students. 20 years later she’s still financial sound. Money makes you more of what you already are.
@BetterNBetter
8 ай бұрын
Wow what a blessing she is to those students! ❤
@TheSoulCrisis
8 ай бұрын
This is exactly why parents should not give savings funds to their kids until they have proven they are financially sound and responsible, otherwise they drain it very fast with unwise moves. Similar to a lottery winner that knows nothing about managing money, long run it doesn't solve their issues.
@roolyfe
8 ай бұрын
If you’re an ass hole when broke! You will be a bigger jerk when rich 🤑
@tsaunders4684
8 ай бұрын
Not really, it just depends
@Afrinaturality
8 ай бұрын
"Money makes you more of what you are" - perfectly encapsulated.
@chrisckvan
8 ай бұрын
I got a story for yall. My father and his friends from work won a 55 million jackpot. It was a big pool, but his take home was 2.2 million. Since we are in Canada there is no tax. He had already paid off his home and had no debts. His first move was getting a financial advisor. He was the only one in the pool who still went back to work for an additional 8 years making 6 figures until he couldn't physically do it anymore. He was also the cheapest man I knew, who loved his toyota and humble home. Unfortunately, he passed away earlier this year. My father was a champ, now I am the cheapest man I know. Love you dad.
@jimv77
8 ай бұрын
How did the other winners in the pool play out?
@chrisckvan
8 ай бұрын
@jimv77 all retired within a year. Other than that I can't confirm. Some of them old, and some of them were young. My father was out of the country when they were presented the cheque, so I went on his behalf. I remember speaking to couple of them who had already put down payments on outrageous cars. Silly moves.
@crashtestdummy1972
8 ай бұрын
Sorry for your loss, but hey, on the bright side, you are now a multi-millionaire. Use it wisely and honor your pops.
@chrisckvan
8 ай бұрын
@crashtestdummy1972 Thanks, friend. My father would have loved this channel and the like-minded individuals such as yourself.
@Helibeaver
8 ай бұрын
Dad was a great man. You were lucky to have him. Thanks for sharing
@tequisaholloway1738
8 ай бұрын
Dude ended up with a half a million dollars and didn't pay off all of his student loans.smh
@genxx2724
8 ай бұрын
He’s a freeloader who works hard. Go figure.
@dslunsford1
8 ай бұрын
I’d argue that unless a person has positive net worth, they shouldn’t be able to purchase a scratcher or make a bet. People need to earn the right to gamble. He bought that ticket with federal student loan money.
@cutehumor
8 ай бұрын
vote republican so these bums don't get student loan forgiveness!! this caller is a perfect example
@ghostbird92
8 ай бұрын
I know. I shook my head to myself when he said that
@0mega-Xis
8 ай бұрын
He a fool 😂
@HoustonTom
8 ай бұрын
$500k is really not as much money as some believe. It can improve your life but it’s not giving you an immediate luxury retirement for a 30 year old.
@LaneDenson
8 ай бұрын
No, but it still takes a concentrated effort to blow through that in 8 years.
@iceblu333
8 ай бұрын
@@LaneDenson No it doesn't... $500,000 is roughly the Price of a Single Lamborghini... or a Cheap House...
@Imhere12345
8 ай бұрын
I could retire on 500k. Modest life
@iceblu333
8 ай бұрын
@@Imhere12345 $500,000 would last me about 5 years at most... it's really not alot of money... that's $55,000 yearly for 10 Years...
@austinradtke2896
8 ай бұрын
If the caller is used to a $75k salary, he'd take just under 7 years to go through $500k winnings.
@Kurtdog63
8 ай бұрын
I applaud anyone that is willing to contact the Ramsey show and reveal their financial mistakes so others can be inspired to make better decisions.
@VMJM85
8 ай бұрын
😂😂
@ronaldlindeman6136
8 ай бұрын
Or maybe just laugh our a-- off at these people. Too soon?
@joelfenner9179
8 ай бұрын
Tragedy and comedy are closely related@@ronaldlindeman6136
@Dan16673
8 ай бұрын
@@ronaldlindeman6136the whole point is to laugh
@Sheryl777
8 ай бұрын
@@ronaldlindeman6136 I don't laugh at people who have situations or problems that they need to overcome and are trying to get a handle on. That's just wrong if you do. Something may come up in your life where you need others help, and how would it make you feel to think that others were laughing at your problem or predicament? If you don't care, then to me, that is a problem YOU need to overcome.
@fightsportspace7327
8 ай бұрын
When you think about it, $550k in eight years is only $69k per year. Puts into perspective how quickly a money can be drained if you don’t plant seeds with it to grow exponentially.
@drcatrinaking
8 ай бұрын
Exactly. Plenty of people make $146k/yr (75k + 69k), live paycheck to paycheck, and have no idea where the money went over the last 8 years.
@abegranderson4253
8 ай бұрын
When you put it like that, good point.
@barryetherton4889
8 ай бұрын
At least he is honest about his problems.
@mrmentalhealthawareness5219
8 ай бұрын
At least buy a house, buddy.
@walters2405
8 ай бұрын
Ikr. Smh.
@ryanray6215
8 ай бұрын
I would buy two or more .
@Tehui1974
6 ай бұрын
Yep, live rent free for the rest of your life. Sometimes good luck is wasted on people.
@angryox3102
6 ай бұрын
Dude could’ve bought a nice house for cheap back when he won too
@roadrunner9622
4 ай бұрын
"Nah, I'll just gamble it. Dat's where it's at."
@SCGSHOW
8 ай бұрын
As a former gambling addict and four years sober, this breaks my heart😢
@private464
8 ай бұрын
it's a tough call, because you see the raw consequences of addiction. But he is hopefully going to grow and get better/sober. Did you see a specialist therapist? How did you break free? Thanks
@SCGSHOW
8 ай бұрын
@@private464 Did all the work myself good to see him turning it around
@user-qr8rb2on3b
8 ай бұрын
Bad behaviors exist. Addictions dont
@Sheryl777
8 ай бұрын
@@user-qr8rb2on3b Addictions DO exist and yes they are bad behaviors, but it's much more than just that for most.
@private464
8 ай бұрын
@@user-qr8rb2on3b Writing this comment of yours was an example of bad behavior! You are a fool to think that addictions don't exist. I won't be responding anymore, and don't want to get into any argument or discussion with you.
@Shane_Conrad
8 ай бұрын
He needs to get himself on the self exclusion list in his state. Self exclusion can last for lifetime if he wants it and that would prevent him from ever being able to gamble in his state ever again. I had to do that and it was a saving grace!!
@3ddiEdotcom
8 ай бұрын
I applaud this man's honesty and vulnerability by sharing his story. There's almost a parallel to the prodigal son parable. He hit it big, spent (or gambled) it all away, and now he's on his way home. God is running and more than ready to love on this guy and make him whole again. We're all prodigals, in some form or another, and God is waiting for us each to come Home.
@johnandnaanaowusu8028
8 ай бұрын
Nicely said
@Person-mh6xq
7 ай бұрын
Oh please. Stop your God BS.
@alondrakelsey7706
8 ай бұрын
Praying for this guy! May he be healed from this addiction!
@ble22eda86
8 ай бұрын
Amen, in Jesus' name. Jesus is the answer, His Spirit can help him.
@JustinCase780
8 ай бұрын
I worked at a store in the 80's that sold lottery tickets and numbers. Never sold a big winning ticket once and I sold to thousands of customers that spent thousands of dollars.
@Cusnpbzn
8 ай бұрын
This is how losers think.
@laurendearnley9595
8 ай бұрын
That's where these insane payout come from. The thousands, maybe even tens or hundreds or even millions of people who lose fund the one or two who win.
@AngieMcdonald-fu9nh
4 ай бұрын
Same! I only lasted two shifts at that job but it was such an eye opener! The value i got from seeing the volunes of money wasted was worth much more than the $6ph. I will go in office sydnicates for the jackpot draws but not to win, just to be social/be a team player.
@DadinWA
8 ай бұрын
won the lottery at 28, broke at 36..$1MM, take home $555k and spent it all. ugh. didn't pay off all of his debts..hope it all works out for Steven. thanks for sharing.
@barnabusdoyle4930
8 ай бұрын
$500k is not a lot of money. Yeah, he blew the money gambling, but that what most casino goers do too, feed it back into the machine. The really surprising thing would have been if he still had $100k after 8 years. He’s not bankrupt through like most big winners.
@ambrosia1917
8 ай бұрын
$500k is still a TON
@AnthonyMcNeil
8 ай бұрын
@@barnabusdoyle4930$500K is a lot of money. You can pay off your debts and invest it and still work.
@stevep4236
8 ай бұрын
@@barnabusdoyle4930It's good amount....he should have paid off all his debts to begin with and go from there
@joelkaben
8 ай бұрын
@@barnabusdoyle4930500K is a lot of money, stop the cap. Lol.
@semosancus5506
8 ай бұрын
He should take up fishing. That's gambling but probably cheaper.
@motherofdragons33
8 ай бұрын
??? Say more please...cuz I think I get it but wanna be certain that I clearly understand
@good-tn9sr
8 ай бұрын
@@motherofdragons33when you go fishing there’s a chance you’ll catch a fish or a big one.
@motherofdragons33
8 ай бұрын
@@good-tn9sr oh ok I guess I understand...thanx
@aliealieee
8 ай бұрын
my parents won $1 mil, tax free. after they paid off the mortgage and debt, they splurged a *bit* (nothing crazy, just some new jewellery, computer, sharing with family etc) and are back to living within their means just stress free. they still shop sales and bargains, aren't out buying luxury vehicles or anything of the sort. that large sum of money cant buy a lot these days but it can buy financial peace if you are smart about it. kudos to this caller for being honest and upfront.
@gaselekrauss415
8 ай бұрын
These people infuriate me that they don’t pay off their student loans when they have the money. But they expect the tax payers to save them. Hopefully he grows up
@bettysmith4527
8 ай бұрын
I was thinking this too!!!
@user-qr8rb2on3b
8 ай бұрын
Big facts
@genxx2724
8 ай бұрын
@@bettysmith4527 I has the same thought, as well as thinking it’s another gamble.
@xlerb2286
8 ай бұрын
Well, I agree he would have been smart to pay off all his student loans instead of just some of them. But I didn't hear him say he expected anybody else to pay them off. Sounded to me like he's putting all his money beyond basic expenses into paying them off.
@Philippinesbound42
8 ай бұрын
Many out there. I work with some. Making 6 figures and don’t pay their student loans
@davidpaul9961
8 ай бұрын
There was a call about a month ago of a middle aged couple winning 3 million or something like that, and they did everything the right way. But this caller made a good point. He gambled to win his lottery, so he just continued gambling. Play for fun if you do, my friends.
@janelleg597
8 ай бұрын
I remember that. Very interesting
@reese85
8 ай бұрын
I think they won 20 million after taxes
@joelkaben
8 ай бұрын
I don't see the fun in throwing money 💰 away "hoping" you win. But to each his own I guess, lol.
@davidpaul9961
8 ай бұрын
@@joelkaben agreed! I’ve played the lottery twice, and you can probably guess which times. When the powerball reached $1 billion. lol fyi, I did not win
@krobdawg
8 ай бұрын
Seems like the wrong people usually win the lotto
@thankfulblessed8496
8 ай бұрын
True
@JustinCase780
8 ай бұрын
And who are the right people? 😂
@dmbgator86
8 ай бұрын
@@JustinCase780financially responsible ones.
@pirate254
8 ай бұрын
People likely to be responsible with lotto winnings tend not to play the lotto
@JustinCase780
8 ай бұрын
@@dmbgator86And, they aren't blowing money on lotto. Get it? 😂
@resplendentToad
8 ай бұрын
Don’t feel ashamed caller. $500k could be life changing money, but it could EASILY be blown over a 10 year span. In fact, I think most people would have spent it even without a gambling problem.
@taurusthebull76
8 ай бұрын
Agreed...$500k is pretty penny, but if you're trying to solely live off that, especially at a young age, you'd definitely blow through that in matter of no time. Think of similarly to you earning $100k annually. In 5 years, there's your $500k right there. I know he said he netted that after taxes, but how many times have we heard the callers come through making $200k per year, but still living check to check? If you don't have a budget/plan, that money will leave your account over the course of a decade or way sooner. Lifestyle will play a huge hand in this.
@TheFlyingZulu
8 ай бұрын
Lol yup 500k isn't much now days... that's a decent house in middle of the road place in America now.
@tsaunders4684
8 ай бұрын
True. He lasted longer than 5 years which is something 90% of winners can't do.
@TheTruth-lx7et
8 ай бұрын
My cousin won 4 million back in 2018, and as of 2021, she was broke as a joke! Smh
@boombaman31
8 ай бұрын
What did she spend her money on?
@TheTruth-lx7et
8 ай бұрын
@boombaman31 She bought her a house cash for 250k, her son land, and 300k to build him a house, cars, and ATV's is all we know in the family. Her biggest mistake was that the family was saying she stayed playing the lottery along with those store slots. I know she tried borrowing money a few months back from one of our other cousins, and he told her NO. It's just ridiculous.
@boombaman31
8 ай бұрын
@@TheTruth-lx7et wow
@CB_4216
8 ай бұрын
Only broke people buy lottery tickets in the first place. It's no surprise that the winners always end up broke again.
@tsaunders4684
8 ай бұрын
Did your cousin give you any money.
@cgasucks
8 ай бұрын
You can take the guy out of the trailer park but cannot take the trailer park out of the guy.
@bidenshithispants5030
8 ай бұрын
Hey leave my wife alone, she is the prettiest sister I have. She still has half her teeth left and she is the breadwinner with her welfare check. We only have 25 more years on our trailer mortgage and we are debt free. She has been cooking up this crystal candy stuff that is making us a lot of money, so hopefully we can pay it off sooner, which is great because we have 11 special needs kids together.
@rustybearhoof8010
8 ай бұрын
@@bidenshithispants5030 Eugene is that you? Tell your wife to stop coming over to my trailer every time you go to jail. I can't keep hooking up with my cousin that often. Oh and at least half of those kids are not yours.
@ehderguyyashootadeerorno2313
8 ай бұрын
Could you image if he saved and invested that money and continued to work until 55? If he just did the max match for 401k (let's call it $400 per month) and gets a 8% rate of return from 401k and winnings, he would have $5.2 million in mostly post tax dollars. (10% would be $8.8 million at 55)
@LulaRoberts
8 ай бұрын
😳😳😳
@ghostbird92
8 ай бұрын
The irony with the lottery is that the people most likely to use their winnings wisely are also the people least likely to buy a lottery ticket in the first place
@MrJimmy3459
8 ай бұрын
80% of lottery winners go broke in 2-3 years
@ehderguyyashootadeerorno2313
8 ай бұрын
I would be the 20% who didn't.
@littlesongbird1
8 ай бұрын
I think it's a personality thing: impulsive. My mom has many times gotten windfalls but spent money willy nilly (my grandma left her 50k and she blew through that in two months and it wasn't because say, she bought a house, pay off debt, pay for school, etc. she just blew it away) She also got money from the sale of my childhood home (my parents divorced when I was little) and the sale of my grandparents house which she inherited but each time she refused to work, refuse to save and the money just slipped through her fingers. The sad thing is, she used to make snooty remarks about my sister and me if we bought ourselves anything, even if we can afford it! My sister and I are both very good with our money and have pointed out to her that she chose to quit her job at 40 and come up with excuses to not work since then or quit any job she got after that after a few months so it's not out fault she didn't save money for her retirement.
@JL-rd5gn
8 ай бұрын
But what a magnificent 2-3 years 😉
@ehderguyyashootadeerorno2313
8 ай бұрын
@@JL-rd5gn LOL, just make sure you don't tell your boss what you really think when you quit, because you may be crawling back through that door lol.
@1981lashlarue
8 ай бұрын
It's not just that they go broke, but many end up in even worse financial shape than before they won.
@Mr_Fairdale
8 ай бұрын
I'm glad this guy called in and cited the stat about lottery winners losing their money. It's not the winning the lottery part that is the thing. It's the _type of people who play the lottery._ Sad to think about. Hope this guy gets the help he needs.
@abegranderson4253
8 ай бұрын
Yeah, that's a good point.
@lvsqcsl
8 ай бұрын
I always tell my co-workers that if I ever won the lottery, I would continue to work and treat it as a second income. I always get laughed out of the room. At least he didn't forget the taxes. All kidding aside, he has an addiction and is getting help. GREAT VIDEO!
@ehderguyyashootadeerorno2313
8 ай бұрын
Right, $555k is a good chunk of money, but also goes fast. I'm 38 and if I won $555k after taxes I would still work, pay off all debt and invest the rest and retire at 50. Now if I won a billion like it sometimes gets to it would be difficult to go to work then. Maybe show up in a awesome vehicle, put in my notice and have a pizza party.
@genxx2724
8 ай бұрын
@@ehderguyyashootadeerorno2313 Minus showing up in an awesome vehicle. No need to throw it in people’s faces. The fact immutable fact that you don’t have to work there anymore is enough.
@ehderguyyashootadeerorno2313
8 ай бұрын
@@genxx2724 The pizza party would be a thank you to everyone i worked with and a way to say goodbye to everyone. No different than a work place retirement party. I won't have to worry about it though since I don't really play the lottery (okay maybe like $10 per year).
@5trace
8 ай бұрын
@@ehderguyyashootadeerorno2313 You could not even buy a house where I live with that amount ...lol
@ehderguyyashootadeerorno2313
8 ай бұрын
@@5trace that sucks. One year ago I bought a brand new 2250 sq ft house with half the basement finished, 3 car garage, granite island and butler pantry on 1/3 acre for $387k. Two months later I bought 80 wooded (mostly mature maples half an hour away) acres for $100k. Gotta love mid America.
@andyhwell8419
8 ай бұрын
I knew a guy who while in the military, won $25k from a slot machine in El Salvador which completely ruined him. On other deployments he was spending his entire paychecks at slot machines, was caught taking food out of the trash can in the office. He kept getting caught stealing other peoples stuff at work. His wife left him, The Navy kicked him out at his 17 year mark just 3 years from a retirement pension. I think he's in prison now. All because of his addiction to gambling.
@harveylin3548
7 ай бұрын
Know a hot charger that got promoted to E-7 under six years in the navy, that got kicked out of the navy as a Chief because he stole money from the command treasure cause I loves to gamble.
@luisfernando5998
4 ай бұрын
Ur next
@andyhwell8419
4 ай бұрын
@@luisfernando5998 Next in line for your mom
@kasession
8 ай бұрын
I do love George and Ken. Having said that... I actually think they were going too fast for this guy. The real problem was the gambling. Losing the 'million' dollars was just a symptom. I actually think the very first step for him is GA and counseling. That would help give him the tools to take the steps to get the gambling problem under control.
@tylersanders2388
8 ай бұрын
This guy isn’t a baby. He can handle a job and has a financial life to get in order. I don’t get this mentality that infantilizes anyone who has any sort of personal struggle.
@Rokka340
8 ай бұрын
You are right. In addition, with any addiction that involves mismanagement of your finances, you need to wean off gradually, as completely stopping it will not work.
@stevenp25100
8 ай бұрын
@Rokka340 nonsense. Completing stopping is the only way to recover. He can't just dip his toe into gambling and limit himself. That's the point. He needs to find out way to feel fulfilled without gambling.
@Sutterjack
6 ай бұрын
I really appreciate this call as a gambler myself who's suffered terribly from this sickness. They say the worst thing for a gambling addict is to win and it's the truth - it just makes the obsession burn stronger. Fortunately it's finally registering in my brain that no matter how much I win it NEVER makes up for all you lose - you always lose more than you win guaranteed if you gamble regularly.
@joeplem5329
8 ай бұрын
Sports gambling is the number 1 addiction right now. Literally every other commercial is for fandual, draftkings ect 😑
@AnthonyMcNeil
8 ай бұрын
The funny thing is that these major sports are in on it too.. there's big money in that stuff and games are rigged to either win or lose.
@amyethridge1798
8 ай бұрын
Very brave to share this and wish you the best, sir! Appreciate the way y’all handled the call.
@TSones23
8 ай бұрын
It's easy to waste money that you didn't work hard for.
@rogermarr9067
8 ай бұрын
Oh this is horrible. So four years ago I almost won all of the Powerball but I only won enough to get 50k after taxes. I got 34,000 where I was able to use 30 of it and I bought a piece of property from a family member and I used the property to put a new house on the property and to do you know some yard work and some things that needed to be done and me and my wife have been living here for 4 years. Very happy. I will say that we got lucky because it was like the perfect amount. It was just enough to do what we needed. Not enough to do crazy stuff because you hear these stories all the time. I feel sorry for this caller because it was very easy for me and my wife to decide on how not to use the money that we got. It's a lesson to be learned when you win money. You need help and a lot of people unfortunately don't do that
@billm.8220
8 ай бұрын
It’s so sad to hear people winning a giant windfall & then blowing it ALL !! Just goes to show that there is NO financial education in the richest countries of the world !! Start teaching children about financial education & watch those figures turn around over the next five decades !!
@janelleg597
8 ай бұрын
It is not all education. It is morality, self-discipline
@Cesar-pq2ck
8 ай бұрын
We’ve all had or have an addiction; this just happens to be his. I had an addiction that choked my life for over 20yrs but thankfully Jesus freed me from that eventually.
@cyberpunkmodels692
8 ай бұрын
Most 28 year olds don’t have 500k in their savings. I can’t believe he just gave it away like that 😭
@lvsqcsl
8 ай бұрын
I can. I remember a guy that won $5 million in the mid-80's. 4 years later he was completely broke.
@AQuestioner
24 күн бұрын
@@lvsqcslHow did he spend all his millions in 4 years?
@AT-hs9nf
8 ай бұрын
It's never too late. I like this guy as he finally realized it and is still very young and want to fix the problem. You will be fine bro 👊😎.
@new2000car
8 ай бұрын
He will never be out of debt.
@AT-hs9nf
8 ай бұрын
@@new2000car Atleast he is trying. So much for your judgement 🤣.
@new2000car
8 ай бұрын
@@AT-hs9nfyeah he gave the middle finger to the student loan institutions when he had the money. If you think he’s a good guy, then maybe you’re as crooked as he is, but you just don’t realize it.
@kensmith2796
8 ай бұрын
@@new2000car He's in better shape than most of the Ramsey callers. He only has 29k in debt and makes 75k.
@scottroberts7463
8 ай бұрын
This guy thought the federal student loan was going to be paid off so he decided not to pay those off even when he had the money.
@scottsanders2474
8 ай бұрын
There are millions of people in this country who have a boatload of student loan debt who feel the same way. They're dreaming too. At some point the government is going to start cracking down on deadbeat student loan debtors and there is going to be a lot of shiite hitting a lot of fans in the coming years.
@cutehumor
8 ай бұрын
Vote republican to block the student loan debt forgiveness by the democrats
@bluejedi723
8 ай бұрын
I feel this guys pain. Remember don't gamble more than you can afford to lose.
@AD59669
8 ай бұрын
I don't gamble as much, but the times we go to the casino. I just set a certain amount to gamble/ lose. 😂 I'm just unlucky. My husband, on the other hand, always wins. He usually makes up our loss. I enjoy watching him play since I know he will win. We go to the casino maybe every 2 years or so. My aunts have a gambling problem, and most of us don't like gambling as much. It's scary.
@megalodon1726
8 ай бұрын
Better to say "don't gamble an amount you'd regret losing". When I (rarely) go to the casino and lose $50, I don't regret it; I consider it the cost of a couple hours of entertainment. But if I lost $5000, I would regret it for a long time, even though I can afford to lose $5000. "Can afford to lose" isn't a strong enough phrase to limit your gambling.
@zimmermanlandscape9287
8 ай бұрын
The thing to remember is you can’t lose if you don’t gamble
@snowpz
8 ай бұрын
Yes it's much better to just stick with what you have, I've never gambled but I've always thought it's better to think about everything you could have bought with what you're gambling away lol. I could have done so so much with 1 million my god
@janelleg597
8 ай бұрын
And you can't win if you don't play. That's the flip side
@zimmermanlandscape9287
8 ай бұрын
I started my gambling career at 18 by going to a casino on an indian reservation. I had twenty bucks in my pocket and sat down at a $5 blackjack table. my money was gone in less than one minute. That was the end of my gambling career. Apparently some people have a flatter learning curve than that...@@janelleg597
@zimmermanlandscape9287
8 ай бұрын
Some people stay on x and others approach Y
@snowpz
8 ай бұрын
But you always lose more than you gain... It's rigged against you. @@janelleg597
@xlerb2286
8 ай бұрын
He did get some good out of the money in paying off some loans (plus he didn't accumulate more debt). And if he uses this as motivation to work past his troubles I'd say he still came out ahead. More power to you!
@dslunsford1
8 ай бұрын
That was very honest and raw. It also points out a huge challenge with student loans. Even when someone gets a $1M lottery win, they deliberately choose not to pay back their debt. The consequences of that choice have major implications, but most people treat it like a fine for a late library book.
@tsaunders4684
8 ай бұрын
He didn't win a million dollars. His take home after taxes and fees were 555k. He should have pay off his students when he bough his vehicle cash.
@kensmith2796
8 ай бұрын
@dslunsford1 That's true. I think Suze Orman addresses student loan debt well. She tells people that it's the most dangerous type of debt and that they need to make sure to make their student loans payments since wages and social security can be garnished.
@lyndaslocs
8 ай бұрын
People really do win the lottery. If I win, I promise you it will last me the rest of my life.
@michaelhutchings6602
8 ай бұрын
Further proof the lottery is a stupid person tax.
@JustinCase780
8 ай бұрын
It's crazy how gambling on sports has been legalized almost country wide in the states and available legally online. Tax revenue, that gov't couldn't obtain from offshore agencies, that is horribly wasted while destroying lives like this guy.
@dyates6380
8 ай бұрын
It's also destroying sports as it's quite obvious many NFL games are being decided by VERY questionable and non "reviewable" calls by the referees. I can barely watch the NFL anymore as this coincidentally started when the gambling was legalized everywhere.
@songsjj
8 ай бұрын
In most states if you total all of the social costs gambling burdens taxpayers with, it is actually a net loss to states in revenue. There are bankruptcies, crimes, incarceration costs, family services to broken homes etc. Net loss to taxpayers. .
@JustinCase780
8 ай бұрын
@@songsjj Bingo! No pun intended.
@harveylin3548
7 ай бұрын
It has ruined sports, nowadays teams actively adjust their playbooks for it.
@DoodleHats
3 ай бұрын
I can see blowing it but damn to have not even paid off your debt is just the cherry on top
@13ikea
8 ай бұрын
First thing you do is pay your debts
@1337farm
8 ай бұрын
Imagine winning the lottery and not paying off your student loan LOL
@kensmith2796
8 ай бұрын
Yeah, that part of the call I think was the hardest part. I actually feel for the guy and see how someone could blow 555k in 8 years pretty easily...I mean that's only 70k/year. But not clearing out all of your debt immediately is a tough pill to swallow.
@dos14dos14
2 ай бұрын
brandon told him taxpayers would pay everyone’s student loans. The caller stupidly believed him.
@thegorgeousoutdoorsman7983
8 ай бұрын
Sounds like a decent man, wishing him well on his road to recovery.
@KathleenMcNe
27 күн бұрын
A decent man who netted $555,000 in the lottery and didn't pay off all of his student loans, thereby screwing taxpayers?
@zimmermanlandscape9287
8 ай бұрын
Win the lottery and keep the debt ….ouch
@ronnie5151
8 ай бұрын
That’s why student loan forgiveness shouldn’t happen. He paid other debts but not the federal student loans and went and gambled the rest of the money. 🤨
@chrism2042
8 ай бұрын
I will never win the lottery, because I don't spent the money on it. But, a friend of mine that plays the lottery talks about everything he will do "when" he wins the lottery. And crazy enough to think if he wins $1M he will quit his job. Then asked me, "what would you do it you won $10M"? I would pay off my mortgage and maybe take a vacation, then invest. With a $1 Million win, maybe take a vacation twice a year instead of once a year. He thinks I am nuts!
@gloriaalex11
8 ай бұрын
I'm with you on this. It's kinda fun to think about what I'd do with a huge sum of money, but not willing to gamble to get there.
@ericeven4090
6 ай бұрын
I have a friend who's gambling mindset is "when" I win, not "if" I win. It controls his life. It's like he is always chasing the dragon. If he won a million he would immediately gamble it away trying to get two million etc. it's a sad way to live I think.
@donvirts4608
8 ай бұрын
Casinos/gambling is the boil on the butt of society,just don't do it.
@janethartmannjones4781
8 ай бұрын
I really worry about our country with gambling sites advertised with every sporting event, the dopamine hit is very powerful. Glad you focused on GA.
@zeal4god402
8 ай бұрын
Accumulation of cash alone isn't enough. It's the appropriate wisdom of what we do with it that determines our long-term financial health Proverbs 4:7 Wisdom is the principal thing; therefore get wisdom, and with all thy getting get understanding.
@hakkimb8913
8 ай бұрын
I would just live off of the interest of winning the lottory if I received a lump sum
@peteranon8455
8 ай бұрын
Seriously, feel free to blow the interest!
@hakkimb8913
8 ай бұрын
@@peteranon8455 So you won't ever go broke was my point!
@jasonbailey6664
8 ай бұрын
Can't really do that on $500k unless you're moving ultra remote.
@hakkimb8913
8 ай бұрын
@jasonbailey6664 I was thinking millions. A lot of people still have become broke with winning millions in lotteries
@jamesharper8373
8 ай бұрын
Everyone says what you just said, almost nobody does it.
@rockyruane9379
8 ай бұрын
I'm not buying this story at all
@nickgruber2593
8 ай бұрын
Seems like the wrong people usually PLAY the lottery
@MrJimmy3459
8 ай бұрын
Well it's usually ppl with gambling addiction that play
@ehderguyyashootadeerorno2313
8 ай бұрын
Right, when you watch how the lottery changed my life they are always like i was down to my last dollar then i bought a ticket. I've never found it entertaining to lose money by gambling.
@roolyfe
8 ай бұрын
Pornography. Prostitution. Gambling. Drugs. Alcohol. Tobacco has destroyed lives! Day one for me ! I am getting help for my addiction above!
@mikesmith-wk7vy
8 ай бұрын
Ouch he won the lotto and chose to keep his student loan debt around , he probably had the delusion they would be forgiven
@LeeJahn-ih9xu
3 ай бұрын
I know someone who went through their whole $1,000,000 + inheritance within 12 years, now they are 67 and still have a high mortgage, credit card debt and no savings 😢
@bradleymaravalli2851
8 ай бұрын
Wish they could have chatted with him longer. This is such an important matter. Especially as gambling becomes more and more legalized.
@melissam7067
8 ай бұрын
Appreciate this man's honesty. Good luck to Steven.
@carsonadams417
8 ай бұрын
I love how offensive Ken was when he thought George was stealing the callers.
@tshandy1
8 ай бұрын
It is so easy to see how someone winning a half million dollars (post taxes) could be broke so fast. If he had blown, say, ten percent of the winnings, and invested the rest, he'd be in a different position today.
@dcrea9416
8 ай бұрын
With 555000 at 28 years old, you better make wise investments if you’re looking to retire off it. If you made 10 percent a year ( which is difficult) by investing, you got 55000 a year. Still have to work a job for a while until the interest starts to compound.
@1981lashlarue
8 ай бұрын
@@dcrea9416 With that much money at the young of an age, he could have invested $500k in an S&P 500 index fund and he'd be doing really well by the time retirement age came around. He'd have millions. That type of winning isn't something you can lose to quit your job and stop working. It is, however, an amount you can create a nice nestegg for retirement that can sit and let grow and compound interest will work great.
@AvaLeBlanc
8 ай бұрын
My Aunt won the lottery back in the late 90’s she bought a house in the Cayman Islands. Right after she won she under went weight loss surgery in Los Angeles by a well known surgeon unfortunately she passed under anesthesia. Crazy how life is sometimes
@donnafontaine2799
3 ай бұрын
Wow that's unbelievable..and so sorry for your loss
@crashtestdummy1972
8 ай бұрын
Similar but not exactly the same, my neighbors father died and left him a 250k insurance policy. He died in 2021 and my neighbor paid off his house, new truck and bought a 20k can am. Spent it all but has no payments except living expenses. So it's not bad if you spend it all, just make sure you buy a (reasonable) home to knock out your biggest cost in life.
@kensmith2796
8 ай бұрын
Many years back I was a business owner. There was a guy who would come into my business and he was aged 30+. He had a drinking problem, no job and no car. His grandpa died and left him over 300k. He immediately went out and purchased a boat with the entirety of the money. He didnt know how to operate the boat and crashed it into a dock on his first outing.
@crashtestdummy1972
8 ай бұрын
@kensmith2796 That's unfortunate.
@Elaba_
8 ай бұрын
I didn't win the lottery and now I am broke.
@lyndaslocs
8 ай бұрын
😄😄😄
@JMF_Productions
8 ай бұрын
I will NEVER understand the appeal of gambling
@VenerableBede2510
6 ай бұрын
I think people mistakenly believe THEY are smarter than “the system” and that they are somehow special. They think they can win. They can’t.
@janeoleary8454
3 ай бұрын
100% true. Beyond stupid
@southpole380
Ай бұрын
I think the addiction of gamblings comes from the high of winning. When you win a large amount of money gambling in any game, the high that comes from winning is what gamblers are chasing after.
@GratefulDeb270
8 ай бұрын
Go to GA… get a sponsor, work the steps, use the tools and live sober odat. You can do this!
@juggernautAA12
8 ай бұрын
Gambling is going to cause so much damage to our society. These apps and sites are making it too accessible and even more addictive
@t206kid
8 ай бұрын
People are shocked by that 80% of winners losing their lottery winnings number, but if you think about it. Who plays the lottery for the most part? The poor, the uneducated, the addicted gambler. These groups of people never had good money management skills to begin with
@worldnomad2301
8 ай бұрын
I mean, 75k is a good chunk of money for a 36 year old. Not saying he shouldn’t strive further, but he’s doing good on that front. It’s not his problem.
@teebirds7152
8 ай бұрын
Maybe it's about getting a different type of adrenaline rush than getting it thru a gambling win
@private464
8 ай бұрын
"for the benefit of the listeners and a dark curiosity, can you tell us where that money ($555,000 dollars) went?" WHAT a question!
@stevenbrown4626
6 ай бұрын
Yes I can. I mostly gambled it all away. I would say 3/4 of it.
@private464
6 ай бұрын
@@stevenbrown4626 You are very brave to come forward like this. I wish you all the success in breaking this thing with the help of GA.
@katrinabaker581
Ай бұрын
luv this dude. this is what i do its a problem how do i stop. he’s not making excuses
@sondrad8163
8 ай бұрын
I still want to win the lottery.
@monaperry2635
8 ай бұрын
Oh my it's not a financial issue ots an addiction issue. Glad he's planning to get help but until he does it and stays in recovery nothing will change.
@stephengamber7000
8 ай бұрын
He chose not to pay off his Federal student loan debt. Curious why he didn't pay off when he paid off all the other loans.
@1981lashlarue
8 ай бұрын
Because he was expecting them to be forgiven at some point. I guarantee you that's why.
@dos14dos14
2 ай бұрын
Because brandon wants votes so he promises all sorts of free things. Sadly, many believe his lies.
@nvrdwn3140
8 ай бұрын
All that money and you didn't buy a house?!
@RMPANDA964
8 ай бұрын
To be fair, 500K over 8 years is not that bad to blow cash. There are others that blow it in the next couple of weeks LOL.
@1981lashlarue
8 ай бұрын
It's pretty bad when you put it in perspective. Even if he never saved another dime for retirement, at that age, he could retire early and be living pretty well. But instead, he lost it all and has nothing much to show for it.
@izgil7541
8 ай бұрын
Man, half a million in cash and he blew it in 8 years!
@av1330
8 ай бұрын
I'd practically spend all that money right away. Pay off the remainder of my mortgage. Put the rest into an Index or Mutual Fund. Continue to live how I do normally now.
@iceblu333
8 ай бұрын
That's the price of 1 Lamborghini... he did good for 8 years... in my opinion... some companies don't even last that long...
@AlphaphenomenonGaming
8 ай бұрын
The things I could do with $555,000 dollars. Boy howdy....That'd change the course of my life and my family tree, forever!
@KayKay0314
8 ай бұрын
Why can I not win the lottery? It doesn't even have to be the mega jackpot, just the $1 million. I'd be set for the rest of my life guaranteed and I'd be able to leave money as an inheritance too. I'd sell my current house (which is an old school starter home) and move someplace with a little more house, if that's even possible. I mostly want a larger place for an attached two car garage. I'd be miserable in a McMansion. And I'd probably buy a brand new vehicle too and everybody would think I am crazy. It's would either be a Prius Prime or some kind of small SUV, like the original Toyota Highlander used to be. Why did they ruin the original Highlander?!
@truthsayer9534
8 ай бұрын
The sad part is if he would have just invested that money in a whole market index fund when he first won about ten years ago he would have almost $2 million now.
@iceblu333
8 ай бұрын
Or... He could have lost it all due to a Crash... Anything can happen in the Market...
@truthsayer9534
8 ай бұрын
@@iceblu333 You don’t lose a penny if you don’t sell and wait for it to come back up.
@iceblu333
8 ай бұрын
@@truthsayer9534 The Oil Companies that crashed in 2020 went to Negative and went bankrupt... People who had stocks with those companies apparently lost everything... if i remember correctly; So, essentially... nothing is safe and Hindsight is always 20/20
@brittanyhinch512
8 ай бұрын
Feel for the guy. I hope he can get it together.
@jillgott6567
8 ай бұрын
I have a plan if I ever win the lottery 😂 I have it all figured out
@Capris9x
8 ай бұрын
Only thing I wanna say is damn, taxes from winning the lottery is theft.
@amireallythatgrumpy6508
8 ай бұрын
Are you kidding? Lottery wins are not taxes ENOUGH.
@sambulthuis287
8 ай бұрын
@@amireallythatgrumpy6508all taxes are theft.
@amireallythatgrumpy6508
8 ай бұрын
False, but thanks for playing. @@sambulthuis287
@isaiahmartinez2061
8 ай бұрын
Remember kids, you're always one spin away from a jackpot
@Imhere12345
8 ай бұрын
Heading to the casino for that spin
@rbraxton00
8 ай бұрын
Well at least he paid his taxes. That’s the positive, because he could be in a worse situation right now. 😂😂😂😂😂
@daver7929
8 ай бұрын
This call was super depressing.
@ehderguyyashootadeerorno2313
8 ай бұрын
Luckily, I've never been into gambling. I don't find it enjoyable to lose money. Notice that most people leaving the casino are not happy. My old neighbor (still a good friend) her uncle won a million and same thing happened to him. He quit his job and bought a bunch of vehicles and within a few years lost it all and had to go back to work.
@stevep4236
8 ай бұрын
Good...gambling is not fun at all
@ehderguyyashootadeerorno2313
8 ай бұрын
@@stevep4236 Right. You go to the casino, put in a dollar, pull the lever, it lights up and gives you back 40 cents. Then you leave with a couple hundred dollars less in your bank. Sooooo much fun lol jk.
@xlerb2286
8 ай бұрын
I spent $4 in a casino back in '82. Lost it all. That was enough for me.
@charisginn6932
8 ай бұрын
Beginners luck is dangerous tho. The first time I walked into a casino I had $10. 10 min later, I won $60 and I stopped immediately and left. But then it kind of nagged at me for a while - “see, you know how to stop when you’re ahead, so it’s safe, you should go back with more next time”. Thankfully I decided not to mess with it, but I definitely understand how some people get sucked in
@unstable4180
8 ай бұрын
Thanks for that Steven! Truly
@wewhoareabouttodiesaluteyo9303
8 ай бұрын
"Are you single?" "I have a......" GET RID OF THE DANG GIRLFRIEND, WIFE, WHATEVER! Then proceed with the baby steps.....
@mxerb5912
8 ай бұрын
He got help only when he is broke
@ingothitrust5248
8 ай бұрын
This is why I will always opt for the annuity if I am ever lucky enough to win, no matter how much the tax changes annually.
@wewhoareabouttodiesaluteyo9303
8 ай бұрын
Plus they inflation adjust it, if you take it as a monthly payment.
@ScorpionX669
8 ай бұрын
The taxes are ridiculous in USA on money gifts to win 1 million to be won He only got 500 something out of 700k something from the initial 1 mil.
@mhoward181
8 ай бұрын
He was a looser before he won. I can only imagine how many scratch cards he bought and lost before winning.
@amireallythatgrumpy6508
8 ай бұрын
Yet another idiot that doesn't know the difference between "lose" and "loose".
@LittleBoysHD
8 ай бұрын
He needs to self exclude himself from the various gambling companies. if you’re dealing with this problem, they will not allow you to play on the site from the IP where you’re playing
@Kurtdog63
8 ай бұрын
The best mistakes to learn from are someone else’s.
@kbanghart
8 ай бұрын
Almost all these comments are from people who assume they would be great stewards of all this money and love to put down others who don't do as well.
@dealerofgame
8 ай бұрын
500k down the drain and didnt even pay the loans off
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