I Won the Lottery and Now I’m Broke

[@larose6551]

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]

Wow what a blessing she is to those students! ❤

[@TheSoulCrisis]

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]

If you’re an ass hole when broke! You will be a bigger jerk when rich 🤑

[@tsaunders4684]

Not really, it just depends

[@Afrinaturality]

"Money makes you more of what you are" - perfectly encapsulated.

[@chrisckvan]

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]

How did the other winners in the pool play out?

[@chrisckvan]

​@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]

Sorry for your loss, but hey, on the bright side, you are now a multi-millionaire. Use it wisely and honor your pops.

[@chrisckvan]

@crashtestdummy1972 Thanks, friend. My father would have loved this channel and the like-minded individuals such as yourself.

[@Helibeaver]

Dad was a great man. You were lucky to have him. Thanks for sharing

[@Kurtdog63]

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]

😂😂

[@ronaldlindeman6136]

Or maybe just laugh our a-- off at these people. Too soon?

[@joelfenner9179]

Tragedy and comedy are closely related@@ronaldlindeman6136

[@Dan16673]

​@@ronaldlindeman6136the whole point is to laugh

[@Sheryl777]

@@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.

[@tequisaholloway1738]

Dude ended up with a half a million dollars and didn't pay off all of his student loans.smh

[@genxx2724]

He’s a freeloader who works hard. Go figure.

[@cutehumor]

vote republican so these bums don't get student loan forgiveness!! this caller is a perfect example

[@ghostbird92]

I know. I shook my head to myself when he said that

[@0mega-Xis]

He a fool 😂

[@Person-mh6xq]

@@cutehumorthere are 100 reasons NOT to vote republican. I’m choosing one of those.

[@fightsportspace7327]

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]

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]

When you put it like that, good point.

[@douglassmith9445]

@@williamnews9051all it would’ve taken was for his parents to tell him to put it in the s and p 500 and not touch it till he has enough to hit his retirement number. Such a simple decision and yet 89% of people don’t do it like he mentioned.

[@maxinef6654]

I think he did pretty good for 8 years.

[@robertthompson5908]

A lot of people think a sum of money like that is somehow magically more than it really is.

[@Shane_Conrad]

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!!

[@cheerfulmouse]

Wow, first I'm hearing of this. And I live in Oklahoma, where gambling has always been available.

[@3ddiEdotcom]

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]

Nicely said

[@Person-mh6xq]

Oh please. Stop your God BS.

[@SCGSHOW]

As a former gambling addict and four years sober, this breaks my heart😢

[@private464]

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]

@@private464 Did all the work myself good to see him turning it around

[@Darren-u7t]

Bad behaviors exist. Addictions dont

[@Sheryl777]

@@Darren-u7t Addictions DO exist and yes they are bad behaviors, but it's much more than just that for most.

[@private464]

@@Darren-u7t 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.

[@HoustonTom]

$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]

No, but it still takes a concentrated effort to blow through that in 8 years.

[@iceblu333]

@@LaneDenson No it doesn't... $500,000 is roughly the Price of a Single Lamborghini... or a Cheap House...

[@Imhere12345]

I could retire on 500k. Modest life

[@iceblu333]

@@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]

If the caller is used to a $75k salary, he'd take just under 7 years to go through $500k winnings.

[@Dad-in-WA]

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]

$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]

$500k is still a TON

[@AnthonyMcNeil]

​@@barnabusdoyle4930$500K is a lot of money. You can pay off your debts and invest it and still work.

[@stevep4236]

@@barnabusdoyle4930It's good amount....he should have paid off all his debts to begin with and go from there

[@joelkaben]

​@@barnabusdoyle4930500K is a lot of money, stop the cap. Lol.

[@alondrakelsey7706]

Praying for this guy! May he be healed from this addiction!

[@ble22eda86]

Amen, in Jesus' name. Jesus is the answer, His Spirit can help him.

[@aliealieee]

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.

[@mrmentalhealthawareness5219]

At least buy a house, buddy.

[@walters2405]

Ikr. Smh.

[@ryanray6215]

I would buy two or more .

[@Tehui1974]

Yep, live rent free for the rest of your life. Sometimes good luck is wasted on people.

[@angryox3102]

Dude could’ve bought a nice house for cheap back when he won too

[@roadrunner9622]

"Nah, I'll just gamble it. Dat's where it's at."

[@davidpaul9961]

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]

I remember that. Very interesting

[@reese85]

I think they won 20 million after taxes

[@joelkaben]

I don't see the fun in throwing money 💰 away "hoping" you win. But to each his own I guess, lol.

[@davidpaul9961]

@@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]

Seems like the wrong people usually win the lotto

[@thankfulblessed8496]

True

[@JustinCase780]

And who are the right people? 😂

[@dmbgator86]

@@JustinCase780financially responsible ones.

[@pirate254]

People likely to be responsible with lotto winnings tend not to play the lotto

[@JustinCase780]

​@@dmbgator86And, they aren't blowing money on lotto. Get it? 😂

[@gaselekrauss415]

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]

I was thinking this too!!!

[@Darren-u7t]

Big facts

[@genxx2724]

@@bettysmith4527 I has the same thought, as well as thinking it’s another gamble.

[@xlerb2286]

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]

Many out there. I work with some. Making 6 figures and don’t pay their student loans

[@MrJimmy3459]

80% of lottery winners go broke in 2-3 years

[@ehderguyyashootadeerorno2313]

I would be the 20% who didn't.

[@littlesongbird1]

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]

But what a magnificent 2-3 years 😉

[@ehderguyyashootadeerorno2313]

@@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]

It's not just that they go broke, but many end up in even worse financial shape than before they won.

[@Mr_Fairdale]

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]

Yeah, that's a good point.

[@TheTruth-lx7et]

My cousin won 4 million back in 2018, and as of 2021, she was broke as a joke! Smh

[@boombaman31]

What did she spend her money on?

[@TheTruth-lx7et]

@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]

@@TheTruth-lx7et wow

[@CB_4216]

Only broke people buy lottery tickets in the first place. It's no surprise that the winners always end up broke again.

[@tsaunders4684]

Did your cousin give you any money.

[@resplendentToad]

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]

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]

Lol yup 500k isn't much now days... that's a decent house in middle of the road place in America now.

[@tsaunders4684]

True. He lasted longer than 5 years which is something 90% of winners can't do.

[@Calibrownsfan]

if he was a drug addict he could blow that 500k in one year. Im surprised someone with a gambling problem didn't go through it that fast either

[@robirvine6970]

Are you stupid? Don't congratulate someone for wasting all their money slower than the other idiots. It just means he got luckier than the other in his gambling.

[@amyethridge1798]

Very brave to share this and wish you the best, sir! Appreciate the way y’all handled the call.

[@carieyounginsurance]

Usually when money comes fast it’ll leave you fast. It took me years to learn how to use money wisely and I still have my issues despite knowing a TON. It’s a lifelong process and education

[@barryetherton4889]

At least he is honest about his problems.

[@ehderguyyashootadeerorno2313]

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]

😳😳😳

[@ghostbird92]

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

[@mrsh2167]

@@ghostbird92 so true

[@lvsqcsl]

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]

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]

@@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]

@@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]

@@ehderguyyashootadeerorno2313 You could not even buy a house where I live with that amount ...lol

[@ehderguyyashootadeerorno2313]

@@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.

[@semosancus5506]

He should take up fishing. That's gambling but probably cheaper.

[@ShadowBannedit]

??? Say more please...cuz I think I get it but wanna be certain that I clearly understand

[@good-tn9sr]

@@ShadowBanneditwhen you go fishing there’s a chance you’ll catch a fish or a big one.

[@ShadowBannedit]

@@good-tn9sr oh ok I guess I understand...thanx

[@dbag57]

I would have so much money if I didnt fish

[@Capris9x]

Only thing I wanna say is damn, taxes from winning the lottery is theft.

[@amireallythatgrumpy6508]

Are you kidding? Lottery wins are not taxes ENOUGH.

[@sambulthuis287]

@@amireallythatgrumpy6508all taxes are theft.

[@amireallythatgrumpy6508]

False, but thanks for playing. @@sambulthuis287

[@grit1679]

It's hard to feel sorry for someone who was given a chance and threw it away.

[@xlerb2286]

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!

[@zone4garlicfarm]

I know someone who won $100,000 on a scratch ticket. Three weeks later his car died and he didn't have enough money to fix or replace it. He had already spent all his winnings on cocaine and casinos.

[@AT-hs9nf]

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]

He will never be out of debt.

[@AT-hs9nf]

@@new2000car Atleast he is trying. So much for your judgement 🤣.

[@new2000car]

@@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]

@@new2000car He's in better shape than most of the Ramsey callers. He only has 29k in debt and makes 75k.

[@farright118]

45% tax on your lotto winnings is so annoying

[@kasession]

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]

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]

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]

​@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.

[@allysonreilly]

@@tylersanders2388then you don’t have experience with addiction. It makes people a liars, thieves. It’s all pervasive.

[@pete3445]

This why “giving money” to people never solves the problem.

[@andyhwell8419]

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]

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]

Ur next

[@andyhwell8419]

@@luisfernando5998 Next in line for your mom

[@vivianoni9565]

I knew where the conversation was headed when he said he'd bought a new car instead of a new home.

[@private464]

"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]

Yes I can. I mostly gambled it all away. I would say 3/4 of it.

[@private464]

@@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.

[@Elaba_]

I didn't win the lottery and now I am broke.

[@lyndaslocs]

😄😄😄

[@tshandy1]

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]

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]

@@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.

[@SonnyBubba]

If he had blown 10% and invested the rest, he’d be a different person than he is today.

[@karaelzexceed666]

That's insane, that money would last me 30+ years even if I don't invest it

[@truthsayer9534]

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]

Or... He could have lost it all due to a Crash... Anything can happen in the Market...

[@truthsayer9534]

@@iceblu333 You don’t lose a penny if you don’t sell and wait for it to come back up.

[@iceblu333]

@@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

[@kevinmiller4590]

i know 3 people who have won 1 million on lotter tickets, all of them are broke, back to working 9-5 and nothing to show for it

[@zimmermanlandscape9287]

The thing to remember is you can’t lose if you don’t gamble

[@snowpz]

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]

And you can't win if you don't play. That's the flip side

[@zimmermanlandscape9287]

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]

Some people stay on x and others approach Y

[@snowpz]

But you always lose more than you gain... It's rigged against you. @@janelleg597

[@AlphaAchilles]

I swear.....the wrong people usually win and get big money while the right people are usually the unluckiest. I do not understand how a person could/would blow money like that knowing better.

[@stephengamber7000]

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]

Because he was expecting them to be forgiven at some point. I guarantee you that's why.

[@dos14dos14]

Because brandon wants votes so he promises all sorts of free things. Sadly, many believe his lies.

[@jaydeebulje4493]

You two need to start up a show here in Australia, we have a major debt crisis and nothing like this support show, well done ! However saying to block sites does not resolve the issue. Addiction disorder is about trying to nurture a deficit and unless you identify the " why " of addiction, you will not resolve it. The caller has had something happen to him, he refuses to acknowledge, so stating going to a therapist from Ken is the best advice !

[@bluejedi723]

I feel this guys pain. Remember don't gamble more than you can afford to lose.

[@183-aD]

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]

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.

[@GratefulDeb270]

Go to GA… get a sponsor, work the steps, use the tools and live sober odat. You can do this!

[@carsonadams417]

I love how offensive Ken was when he thought George was stealing the callers.

[@zimmermanlandscape9287]

Win the lottery and keep the debt ….ouch

[@ronnie5151]

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. 🤨

[@ScorpionX669]

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.

[@crb4059]

Libbies taxes

[@brittanyhinch512]

Feel for the guy. I hope he can get it together.

[@HublyTrades]

Proof that getting more money ain't gonna solve your problem.

[@chrism2042]

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]

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]

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.

[@diahannab5072]

I’m stuck at he won a million but took home a little over half. That sucks.

[@1337farm]

Imagine winning the lottery and not paying off your student loan LOL

[@kensmith2796]

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]

brandon told him taxpayers would pay everyone’s student loans. The caller stupidly believed him.

[@dealerofgame]

500k down the drain and didnt even pay the loans off

[@1981lashlarue]

He did pay off private student loans he said.

[@ehderguyyashootadeerorno2313]

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]

Good...gambling is not fun at all

[@ehderguyyashootadeerorno2313]

​@@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]

I spent $4 in a casino back in '82. Lost it all. That was enough for me.

[@voidfroze]

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

[@alanmccarthy4004]

Poor guy, I wish him the best!

[@grantv2313]

Sometimes winning is the worst thing that can happen for an addict. Because you feel like if it happens this time it’ll happen to you again. Sports gambling has been made really easy with apps. As if we needed another way to blow money on a cell phone. After the Super Bowl last year and being within a few yards of hitting $2k I deleted my app. Good luck to this guy. Needed this help the day he won.

[@hastycontemplation]

Gambling apps are going to do alot of damage

[@monaperry2635]

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.

[@rachelharrison7961]

The million was probably if he took annual payouts of $50k a year for 20 years instead of the immediate lump sum. He would have been better off doing it that way.

[@hakkimb8913]

I would just live off of the interest of winning the lottory if I received a lump sum

[@peteranon8455]

Seriously, feel free to blow the interest!

[@hakkimb8913]

@@peteranon8455 So you won't ever go broke was my point!

[@jasonbailey6664]

Can't really do that on $500k unless you're moving ultra remote.

[@hakkimb8913]

@jasonbailey6664 I was thinking millions. A lot of people still have become broke with winning millions in lotteries

[@jamesharper8373]

Everyone says what you just said, almost nobody does it.

[@commonenglishmistakes4360]

It should be illegal to advertise as 1 million dollars if you finally only received 550k.

[@joeplem5329]

Sports gambling is the number 1 addiction right now. Literally every other commercial is for fandual, draftkings ect 😑

[@AnthonyMcNeil]

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.

[@EricSmyth4Christ]

It always made sense to me gambling as a poor person to get rich But it never made sense to me gambling as a rich man to get poor As a rich person there is no upside to winning (laws of diminishing returns), but you can lose to the point of being poor again

[@cyberpunkmodels692]

Most 28 year olds don’t have 500k in their savings. I can’t believe he just gave it away like that 😭

[@lvsqcsl]

I can. I remember a guy that won $5 million in the mid-80's. 4 years later he was completely broke.

[@AQuestioner]

​@@lvsqcslHow did he spend all his millions in 4 years?

[@ingothitrust5248]

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]

Plus they inflation adjust it, if you take it as a monthly payment.

[@RMPANDA964]

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]

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.

[@Hodaggium]

What I would say is kick the gambling to the curb before any professional growth, because chances are the extra money would be gambled away. I applaud this caller for starting on the path to fighting his addiction. Bravo.

[@janethartmannjones4781]

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.

[@KayKay0314]

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?!

[@Theredeemedchild2]

All that money and you didn't buy a house?!

[@roadrunner9622]

"Why didn't he pay off his federal student loan??" He probably assumed "da gubbamint" was going to forgive it, "so why bother paying it?"

[@ReturnOfTheJ.D.]

Could've just bought some real estate and used the rent as an additional income stream to his regular job.

[@isaiahmartinez2061]

Remember kids, you're always one spin away from a jackpot

[@Imhere12345]

Heading to the casino for that spin

[@jwebby85]

Take home over $500,000. 5 years later he has less money than I do. These kinds of stories really upset me. How can you be so irresponsible with what most of us would see as a major blessing to help us set ourselves up for life.

[@Sheryl777]

@jwebby85 Because gambling addiction is an illness that needs treatment in order to overcome. It's not totally irresponsibility that is the problem, it's the addiction that is the problem

[@owusuphilipable]

@@Sheryl777it’s not an illness 😂 people half way across the world could get that kinda of money 😂

[@Sheryl777]

@@owusuphilipable A hard core gambling addiction is a mental/emotional illness. Sorry you don't understand that. Any addiction is an illness that can potentially need treatment to overcome at times. It's ok, you and I just disagree, that happens online between people a lot, so it's not a surprise by any means.

[@NatalieS-kh3ck]

​@@Sheryl777you are right. It is a mental sickness, however, it isnt an EXCUSE. He did this for YEARS. He even said he knew he had a problem and kept at it. He has a sickness but he also has choices and is fully responsible for his choices. The illness is real but by no means an excuse for the behavior.

[@Sheryl777]

@@NatalieS-kh3ck I agree with you. 👍 I just disagreed with the person who said it wasn't an illness.

[@BlakeC341]

As soon as that was cashed I would've paid cash for a home. Crazy missed oppotunity.

[@crashtestdummy1972]

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]

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]

@kensmith2796 That's unfortunate.

[@formula112967]

He bought a Can Am?....a Pontiac Can Am?

[@crashtestdummy1972]

@@formula112967 oh its basically a passenger 4 wheeler.

[@LeeJahn-ih9xu]

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 😢

[@izgil7541]

Man, half a million in cash and he blew it in 8 years!

[@av1330]

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]

That's the price of 1 Lamborghini... he did good for 8 years... in my opinion... some companies don't even last that long...

[@BurningSmith]

He spend about 70k a year, which much, but if you have a good Job you can generate this income. If he was more on the cheap side he could last with it about 20 years? Then he would be 48. So either way he had to keep earning money.

[@katrinabaker581]

luv this dude. this is what i do its a problem how do i stop. he’s not making excuses

[@nickgruber2593]

Seems like the wrong people usually PLAY the lottery

[@MrJimmy3459]

Well it's usually ppl with gambling addiction that play

[@ehderguyyashootadeerorno2313]

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.

[@oneeyedman99]

Anyone who watches this channel would handle the situation better, but I doubt that any of us ever buys lottery tickets.

[@thegorgeousoutdoorsman7983]

Sounds like a decent man, wishing him well on his road to recovery.

[@KathleenMcNe]

A decent man who netted $555,000 in the lottery and didn't pay off all of his student loans, thereby screwing taxpayers?

[@daver7929]

This call was super depressing.

[@sondrad8163]

I still want to win the lottery.

[@jodylarson4697]

I wish we could do away with lotteries and online gambling. It's the people with low incomes who buy lottery tickets, and they can't afford to throw money away.

[@1981lashlarue]

That's a personal responsibility issue though. That's not the government's responsibility.

[@SonnyBubba]

@@1981lashlarue Sometimes it’s the government’s responsibility to protect the people from themselves. Seatbelt laws and motorcycle helmet laws are examples.

[@1981lashlarue]

​@@SonnyBubba When does the line cross from the government protecting us from ourselves to an unacceptable encroachment on freedom? Can/should the government outlaw video games because of the potential of causing violence? How about outlawing internet shopping because for many, it's an addiction that ruins their finances? Nearly anything can be a vice, become an addiction, or be misused. I don't want the government having that power or responsibility. There is a measure of personal responsibility that the individual needs to take. Also, as we have seen from history, any time you outlaw, strictly regulate, or ban something, you create an underground market for that and creates more crime. The prohibition era is a good example.

[@zone4garlicfarm]

State lotteries are the most effective way to tax broke people.

[@HHHPedigrees]

What a loser. He should have bought a car and two houses. One to live in and one to rent out and cash flow. Instead he wanted to gamble it away

[@aa-qx1cg]

$550k is a lot of money but it's not like "fuck it i'm rich" money. Think about it that's like less than a decade of working a middle class job.

[@worldnomad2301]

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]

Maybe it's about getting a different type of adrenaline rush than getting it thru a gambling win

[@calmtea5369]

G.A. Is NOT a place to find answers. Its a support group only. They don’t address any root causes and they don’t allow people to talk about them. Go to a gambling addiction therapist expert or read books about it.

[@Sutterjack]

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.

[@MXRiderFiftyTwo]

A dude in my town won 500k in lotto. All the family reconnected with him after knowing of the winnings. The only thing he has to show for the winnings is a Harley

[@Erica-cf1xb]

Not surprised. They told everyone and he was watched.

[@billm.8220]

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]

It is not all education. It is morality, self-discipline

[@jim2386]

This is why I don’t understand why governors brag about bringing gambling to their state as some sort of flex. The people who are going to participate are the ones that shouldn’t be. Also weird seeing pro gambling commercials on tv now that end with “If you have a gambling addiction call…..”

[@jacquelinelewis5627]

This guy could have just been set for life if he would have taken like over half of it and invested it and then just had some fun with the other money and said he completely screwed himself and he's got nothing I'm honestly surprised he hasn't stuck his head in the oven at work yet LOL I would have done that if I was that much of a ding dong

[@Sheryl777]

@jacquelinelewis5627 The guy has an illness that he is trying to get help for, so I wouldn't necessarily call him names for realizing that he needs help.

[@iceblu333]

Investments are a Gamble as well... what if he Invested in an Oil Company and the 2020 crash Happened... he would have lost it all anyway... So, everything is a Gamble... if you think about it.

[@joemunch58]

Many who come into big money spend all of it within a few months. I usually see it with inheritances. One heir, asked what he did with the money, said, "Some of it I spent on drugs. Some of it I spent on women. The rest I just wasted."

[@finnishline]

Always take the lotto winnings in annual installments (if possible), unless you're elderly. Reduce taxes, and force a little responsibility. Also don't play the lottery.

[@jasonruppert9693]

The government took half of that win and I bet they also have spent it all