Boxden hiphop sports wild'ish games movies news eyecandy tech gear rides
trending now most viewers #top20 top yesterday all sections videos pics tracks headlines

How One Lottery Winner Blew Through $10 Million in Less Than 10 Years

most watched this minute | see more
most viewed right now
125 viewing
BOX Hell 2 the Naw Mayweather Bodyguard gets dropped.
63 comments
@sports
most viewed right now
117 viewing
 Lupe Fiasco Needs Fans’ Help to Destroy His Album
22 comments
@hiphop
most viewed right now
85 viewing
 Image inside Karrueche Tran In Spandex Out & About In Los Angeles
32 comments
@eyecandy
most viewed right now
68 viewing
 Guess it's safe to say Tyga been stimulating Kylie
84 comments
@hiphop
people viewing this topic:   (0 members and 1 guests)
 

let em know » Share this on TwitterShare this on Facebook
 How One Lottery Winner Blew Through $10 Million in Less Than 10 Years
Unread 2 years agoclass of '08 - away - #1
6842 pageviews
90 comments


thetfd 1142 heat pts1142 space
avatar space
Till the death...
space
$2,960 | POWERFUL
image
With a $338 million Powerball ticket having been sold in New Jersey -- the fourth-largest jackpot in Powerball history -- it's a good time to remember that the sudden gains of a lottery windfall can be fleeting.

Imagine, for instance, winning $10 million and having almost none of it left less than a decade later.

It happened to Sharon Tirabassi, a 35 year-old resident of Hamilton, Ontario. Nine years ago, The Hamilton Spectator reports, Tirabassi cashed a check from the Ontario Lottery and Gaming Corp. for $10,569,00.10 (Canadian). Today, after spending almost all her winnings -- "big house, fancy cars, designer clothes, lavish parties exotic trips, handouts to family, loans to friends" -- she's back in the working class: riding the bus, working part-time, living in a rented house.

What remains of her windfall is in trust for her six children; the money will become available when they turn 26.

"The moment I got it, I divided it among my family," Tirabassi told The Spec: $1 million to her parents, and $1.75 million among her four siblings. She was generous with others, too, buying houses and renting them out at low rates, paying people's rent, offering loans for bail and business ventures.

"All of that other stuff was fun in the beginning, now it's like ... back to life."

That other stuff included vacations in Cancun, Florida, Las Vegas, California, and the Caribbean, as well as four cars: a Hummer, a Mustang, a Dodge Charger and a custom Cadillac Escalade.

Tirabassi was a single mother, recently off welfare and newly employed as a personal care provider, when she struck it rich on Easter Weekend in 2004. As a teenager, she had lived in shelters, and all that money didn't come with instructions. Tirabassi didn't hire a financial adviser; she didn't even keep close track of her account balance. Suddenly, with just $750,000 left, Tirabassi woke up: "that was just time for fun to stop and to just go back to life."

Tirabassi's husband, Vinny, who brought three kids of his own to the marriage, shares her stoicism about the couple's lost fortune. He says he lived simply his whole life and is used to not being rich. Recalling the post-winning entreaties of suddenly interested friends, some of whom came asking for favors and then disappeared, Vinny says, "Money doesn't buy you happiness. It caused her a lot of headaches." His wife had a hard time saying no to those she thought of as in need: "That's the way I was brought up," she says. "Help those who can't help themselves."

For the complete story of the couple's financial descent, head over to The Spec.com, and check out the paper's 2007 interview with Tirabassi, when she had already spent half of her winnings.

Tirabassi's experience stands in contrast to that of Sandra Hayes, who pocketed around $6 million when she and a dozen coworkers split a $224 million Powerball jackpot in 2006. (Watch Hayes tell her story in the video below.)

Like Tirabassi, Hayes went on a spending spree -- including a boat, an Escalade and a Mercedes -- but she also paid off her mortgage and student loans, and was leery about handouts to friends and relatives. Today, Hayes lives comfortably but not extravagantly.

"I love a good deal, I'm on a budget, I save my money," she says. "I try not to live above my means." Her warning to the newly rich: "If you're not disciplined, you'll go broke. I don't care how much money you have."

Hayes sounds as though she might have taken lessons from Six Tips on How to Avoid Squandering a Financial Windfall. For more advice, check out these Powerball winners' lessons on how to hang on to your cash, whether you're a millionaire or just trying to make ends meet.

How One Lottery Winner Blew Through $10 Million in Less Than 10 Years - DailyFinance
Reply With Quote
3 peeps gave props to thetfd Agentzer0oo0 (06-23-2013) , hot topic  (06-23-2013) , stogz (06-23-2013)

top in section
31 viewing
 NFL Marshawn Lynch Goes On Shopping Channel To Sell Skittles
17 comments
top in sports/24hrs
top in section
54 viewing
 Video inside 50 Cent talks signing new artists, new TV show, Donald Trump, Police body cameras & POWER
9 comments
top in hiphop/24hrs

Unread 2 years agoclass of '10 - away - #2
Kylluminati  space
avatar space
Senior Member
space
$413 | 1339960
Reply With Quote
Unread 2 years agoclass of '11 - away - #3
One Gud Cide 25 heat pts25 space
avatar space
I Got Knocked Da Fu*k Out!
space
$9,454 | POWERFUL
they shoulda never gave you n*ggas money
Reply With Quote
Unread 2 years agoclass of '12 - away - #4
cubes 2 heat pts space
avatar space
Thank You Based God
space
$10,266 | POWERFUL
So really she only blew about 3 million...
Reply With Quote
Unread 2 years agoclass of '08 - away - #5
Andre3stacks 15 heat pts15 space
avatar space
Senior Member
space
$16,209 | POWERFUL
im sorry but to be honest if i got rich id only tell my spouse and pay for them to keep my name anonymous. Best thing she did was save money for her kids but how much was that? and when they turn 26? Wont even get to spend it on college fees? But I guess at that age it would help.

No need to just give your mother a million like that and divide money among siblings just help here and there.
Reply With Quote
Unread 2 years agoclass of '07 - away - #6
S0ap 19 heat pts19 space
avatar space
NOLA • BR • H-TOWN
space
$2,366 | POWERFUL
Sharon, you fu*kin dummy.
Reply With Quote
Unread 2 years agoclass of '12 - away - #7
DreamChasers 74 heat pts74 space
avatar space
Senior Member
space
$6,008 | POWERFUL
LOL! she was buying people houses and sh*t.. of course

...

Shut up and... Take my money??

[pic - click to view]

Reply With Quote
Unread 2 years agoclass of '11 - on now - #8
Kooper 134 heat pts134 space
avatar space
Senior Member
space
$17,665 | POWERFUL
Vacations in the country and Mexico

Reply With Quote
Unread 2 years agoclass of '11 - away - #9
ricengravy 2 heat pts space
avatar space
CHICKEN WANGZ
space
$4,212 | 10768906
nobody caught the part she was paying ppl's bail lol .......

fk that nobody would know id won but my IMMEDIATE family not 1st cousins i see once a year i mean peeps i regulary speak 2
Reply With Quote
Unread 2 years agoclass of '10 - away - #10
Solid2 snake  space
avatar space
Senior Member
space
$2,941 | 8891478
Stupid b!tch... She bought 4 regular cars too...
Reply With Quote
Unread 2 years agoclass of '11 - away - #11
One Gud Cide 25 heat pts25 space
avatar space
I Got Knocked Da Fu*k Out!
space
$9,454 | POWERFUL
ricengravy said:
nobody caught the part she was paying ppl's bail lol .......

fk that nobody would know id won but my IMMEDIATE family not 1st cousins i see once a year i mean peeps i regulary speak 2
I'd tell every single person I met I don't give a fu*k they're still not getting sh*t
Reply With Quote
Unread 2 years agoclass of '09 - on now - #12
Polygod 51 heat pts51 space
avatar space
Always Waiting
space
$3,212 | POWERFUL
One Gud Cide said:
I'd tell every single person I met I don't give a fu*k they're still not getting sh*t
this

my moms my pops and my sister get 100k thats it then im gone
Reply With Quote
Unread 2 years agoclass of '06 - away - #13
aussie08  space
avatar space
Senior Member
space
$1,546 | 3907798
shes fine tho...her 4 kids each get 1.75 million when theyre 26. She really didnt even spend that much if she still has 3/4 of a million.
Reply With Quote
Unread 2 years agoclass of '10 - away - #14
Agentzer0oo0 180 heat pts180 space
avatar space
I Kim k!llz On Any Block
space
$56,532 | POWERFUL
NefDizzle said:
this

my moms my pops and my sister get 100k thats it then im gone
100k?

I'm giving my moms a dollar & calling it a day

Dat savage life

Nah forreal tho I'd find some bullsh*t job where she literally has to do nothing but get paid. Same thing for my pops.

I'ma have a trust fund set up for my niece and that's it.

I'll probably read into Real Estate & how to properly invest in stock then just live a quiet life. I'ma be living like those rich white folks whose entire outfit will cost a fitted cap
Reply With Quote
Unread 2 years agoclass of '10 - on now - #15
lboog1423 233 heat pts233 space
avatar space
G.O.A.T
space
$23,822 | POWERFUL
She was generous with others, too, buying houses and renting them out at low rates, paying people's rent, offering loans for bail and business ventures.

Reply With Quote
Unread 2 years agoclass of '12 - away - #16
videoshirt  space
avatar space
Senior Member
space
$965 | 8549073
my thing is how does she not still own the house she bought?

like seriously you are living in a rented house now so what happened to the house u bought when u got the money?

i mean that's really bad because most people, even if they went broke would at least still have a house PAID FOR
Reply With Quote
Unread 2 years agoclass of '04 - away - #17
bwlove02  space
avatar space
Senior Member
space
$1,053 | 28553
videoshirt said:
my thing is how does she not still own the house she bought?

like seriously you are living in a rented house now so what happened to the house u bought when u got the money?

i mean that's really bad because most people, even if they went broke would at least still have a house PAID FOR
She might not be able to pay the property tax.
Reply With Quote
Unread 2 years agoclass of '11 - away - #18
KRCROOKSNY 36 heat pts36 space
avatar space
Cold rockin' it..
space
$5,737 | POWERFUL
cubes said:
So really she only blew about 3 million...
This.
Reply With Quote
Unread 2 years agoclass of '04 - away - #19
Kalon 4 heat pts space
avatar space
504 Bred...
space
$5,328 | POWERFUL
it says 4 SIBLINGS. n*gga, she gave that money to brothers and sisters not kids lmao
Reply With Quote
Unread 2 years agoclass of '10 - on now - #20
kawgre12 4 heat pts space
avatar space
In Phil We Trust
space
$7,822 | 18408042
aussie08 said:
shes fine tho...her 4 kids each get 1.75 million when theyre 26. She really didnt even spend that much if she still has 3/4 of a million.
That 1.75 went to her brothers and sisters...it doesn't say how much her kids get
Reply With Quote
 
Home > all sections > The Hip-Hop Spot > Just Wild Ish
  
    
          join bx

 


that hot ish yesterday


most viewed right now
61 viewing
Video inside 10 Mysterious Archaeological Discoveries No One Can Explain
79 comments
19 hours ago
@wild'ish
most viewed right now
48 viewing
Video inside 5 Places With No Laws
29 comments
19 hours ago
@wild'ish
most viewed right now
45 viewing
Rick Ross Admits That Meek Mill Lost To Drake On "Foreclosures"
219 comments
22 hours ago
@hiphop
most viewed right now
25 viewing
NBA Shaq Podcast w/ Kobe "We got into fistfights, Kobe was never afraid to fig..
44 comments
1 day ago
@sports
most viewed right now
22 viewing
Video inside White Women Claiming the booty
39 comments
23 hours ago
@eyecandy
most viewed right now
18 viewing
Image inside Rick Ross "Black Dollar" album drops this Thursday 9/3
72 comments
23 hours ago
@hiphop
most viewed right now
17 viewing
Aug 31 - Walmart cuts workers hours after pay raise - GOT EM!
79 comments
23 hours ago
@news
most viewed right now
17 viewing
Video inside The Weeknd dislikes Miley Cyrus :dead:
86 comments
1 day ago
@hiphop
^
contact us   |   bx@twitter   |   bx@facebook   |   privacy   |   search   |  © BX 1998-end of time