Lottery winner in debt after blowing £10m jackpot

Oh my, what an idiot!

He swapped his battered old Vauxhall Astra for a £140,000 Ferrari Modena Spyder. Other cars followed and at one point he had six in the drive, including a Bentley, Mercedes, Jaguars and BMWs.
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So lucky. :(
 
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The lesson here is not to invest in rubbish football teams, I know nothing about football but i could have told you that is a bad idea.
I was hoping it was gonna be that chaz guy who one and is always getting in trouble.
 
Haha, typical gawnless footie-mad bloke, trying to show off with cars, and spraying his money on useless streaks of excrement - otherwise known as scrounging females. :D:D
 
Isn't there a statistic where something like 90% of all lottery winners spend most of it in the first year? When you're given that much money, you really don't have any idea how to handle it wisely.
 
KNiVES said:
Isn't there a statistic where something like 90% of all lottery winners spend most of it in the first year? When you're given that much money, you really don't have any idea how to handle it wisely.
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Wouldn't be surprised at all if that stat was true or very near it.

I've heard that new Lottery winners get an adviser to help them discuss what they will do with their winnings. Of course it is all voluntary and the advisers can be shown the door.
 
I would simply have to bank it all and live off the interest, maintaining a decent lumper and a huge income. Everything into tax-efficient savings as soon as possible. 10m would gross 600k/year @ a modest 6% return. I would see around 150k going in tax if things were done right, leaving £450k or £37,500 per month to spend. Pay the mortgage off in 6 months, have a few nice holidays and then buy think about spending. Got a LONG time to do it.
 
What a dick.

Anyone with a brain or a clue would not waste £4million (40% of the winnings!!) on a football club they happen to support.. christ what an idiot! I'm hoping he was high on something when he made that decision. He doesn't get any sympathy from me what so ever. He could have treated his family, had a nice wedding, a nice house, invest abit with solid experts help.. and even then happily and very comfortably lived off the interest of the winnings.

I pity the fooooool
 
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