Comments on: Poor Man Wins Lottery – Will it Help or Hurt Him?

By: Craig

Craig — Sat, 27 Jun 2009 03:09:55 +0000

I was just in a store today someone was talking about the lottery and said, “I really only need a million anyway.”
When will people stop thinking money is the solution to their problems? Perhaps this is a reminder that many people are seeking joy, but are just looking in the wrong place. I pray we can show them the true treasure.
Thanks for your comment!

By: JT@RedeemingRiches

JT@RedeemingRiches — Fri, 26 Jun 2009 19:50:15 +0000

Great post! I blogged on this a few weeks ago too. I think the reason why so many people squander the lottery winnings is because God didn’t design money to give us ultimate joy.

When people fall into a large sum of money and after the initial happiness wears off, they realize they have more problems, more worries and more anxiety.

God designed us to find Jesus as the ultimate treasure.

JT
JT@RedeemingRiches´s last blog ..The ABC’s of Credit Scores – 5 Tips to Improve Your Mark

By: Weekly Roundup: Sink Or Swim Edition | Start Living Frugal

Weekly Roundup: Sink Or Swim Edition | Start Living Frugal — Thu, 18 Jun 2009 12:21:03 +0000

[...] Poor Man Wins Lottery – Will it Help or Hurt Him? After any sizable lottery winnings the media instantly reports all those who have been cursed by the winnings. I still believe the idea that it is the love of money that is the root of all evil. Money alone is simply a tool. (@Money Help For Christians) [...]

By: Weekly Roundup: Sink Or Swim Edition | Frugal Dad

Weekly Roundup: Sink Or Swim Edition | Frugal Dad — Thu, 18 Jun 2009 10:00:57 +0000

By: Craig

Craig — Wed, 17 Jun 2009 22:37:38 +0000

Thanks for your comment! I have heard that but failed to mentioned it specifically. I’m glad you made a note about it. I guess if I just played the lottery more often I would know all this!

By: Mike

Mike — Wed, 17 Jun 2009 21:43:11 +0000

I enjoyed this post, particularly since it was backed up with statistics. One note about your reactions, $143.6 didn’t go to taxes. Lotteries typically offer the full jackpot (in this case $232.1 million) if you take the payments over a longer term like 20 years. They invest your winnings into an annuity so that you get the full jackpot amount over that time period. If you instead opt for a one time, lump sum payment (like this man did), you’ll typically get about half the jackpot amount. So he probably won $116 million and paid $28 million in taxes. Still a lot, but not nearly the amount stated in your results.
Mike´s last blog ..Joining an Investment Club

By: Carnival Of Top PF Posts #7 – Some Runners Up » JoeTaxpayer

Carnival Of Top PF Posts #7 – Some Runners Up » JoeTaxpayer — Tue, 16 Jun 2009 12:11:45 +0000

[...] Ford presents Poor Man Wins Lottery – Will it Help or Hurt Him? posted at Money Help For Christians, saying, “Take critical look at our assumption that money [...]