I challenge anyone to waste away 15millions in 3 years

[Leepee]

This news was reported in Sunday NewPaper.

Ok...Can anyone propose a wasteful lifestyle or scheme that can waste away 15millions in 3 years?

I cannot imagine how the hell he can so poor now. (At least sure got 1 million hidden somewhere perhaps)

Maybe he is acting poor to avoid all the money grabbing relatives and friends?

 

For me even if I buy a district 9 bangalow at 8million and wasted all the others on girls and cars and gambline, and if the old man were to die asuddenly nd propety price crash. I think still can sell the house for 1million right? No?

 

Anyone please list out how to lose it all and it is very possible in Singapore context.

 

 

 

THEN, A $15M LOTTERY WINNER NOW, HE'S A WELFARE LOSER

He hit the lottery jackpot in 2005, but three years on, ex-soldier is destitute, down and out in budget guesthouse

April 14, 2008

 

HE does odd jobs to make ends meet, claims welfare benefits and lives in a 贈15 ($40) a night guesthouse.

 

 

It's all gone now: Ex-British soldier Peter Kyle, who hit the lottery jackpot of 贈5.1 million, is seen here in an undated screen grab with his wife and son.

It's hard to believe that just three years ago, ex-British soldier Peter Kyle hit the lottery jackpot of 贈5.1 million.

 

Today, the 55-year-old divorcee has squandered all his winnings and is virtually destitute, reported The Daily Mail. It is claimed he also owes money.

 

A source told The Daily Mail that Mr Kyle lost his money after making a string of ill-advised investments.

 

He now lives in a budget guesthouse where he earns his board and lodging by doing odd jobs for the owner.

 

The source said: 'He had a golden opportunity to turn his life around - and then blew it. He took some bad advice from bad people and handed his money over too readily to them.

 

'Now he's got nothing and even owes cash.'

 

Mr Kyle won his fortune in February 2005 and splurged on a 贈550,000 house, a 贈40,000 Mercedes, a 贈40,000 Range Rover and another vehicle. He also gave money to his two children, aged 23 and 14.

 

Mr Kyle has refused to talk to the British media.

 

These days, the former Royal Artillery gunner calls a 贈15-per-night guesthouse in his hometown of Plymouth home. It is next to a sex shop and opposite a tattoo parlour.

 

A source told The Sun: 'Pete has been working at the hotel for a few months just to get by. He has his own room, marked private, and he spends a lot of time there.

 

'He shuffles around and cooks breakfast for the punters and is a general dogsbody for the owner.'

 

Reports say Mr Kyle has been claiming benefits for several months, and in January, an anonymous creditor secured a county court injunction against him in Northampton for 贈590.

 

The huge house he used to own on the outskirts of Plymouth has been repossessed, say neighbours.

 

The current owner is believed to be a builder who did work for Mr Kyle on the property but was not paid - and later negotiated a deal to buy it.

 

But some ex-neighbours of Mr Kyle believe he got his just desserts.

 

Said Ms Moira Johnson, 50: 'Some people do get what they deserve - he really is a nasty piece of work. I had a run-in with him once when a friend of mine was stuck and I needed to take them a car battery charger.

 

'I knocked on his door and he started screaming blue murder at me right in my face, calling me every name under the sun. His language was appalling. No one liked him around here and everybody had had some run-in with him at some stage. We were very glad when he left.'

 

Mr Kyle has also been accused of refusing to give financial support to four of his siblings. They suffer from Huntington's disease, a rare genetic disorder which attacks the neurological system.

 

His ex-neighbours also described him as an arrogant spendthrift when he first won the lottery.

 

Said one neighbour: 'He was very into his flashy cars.

 

'This is a narrow private road and normally neighbours wait and let each other pass, but he would always barge down and force you to reverse. He was arrogant and foul-mouthed - not a very nice man at all.

 

'I sensed he was a bit of a loner, though. There weren't many visitors and I think he was single.

 

'It doesn't surprise me that he has lost his money, because he did a ridiculous amount of pointless building work and drove top-of-the-range cars. We never mixed with him at all.'

[Typhoonz]

Aiyah... You see those unker squandered away their see pee eff money like water...

 

Too much money and too little control...

[Leepee]

Ok...CPF at most $200,000.

Buy holidays,hotels, LV/Gucci for China mei mei, can easily come up to $10k per month. So 20 months or 2 years, will Game Over.

 

But But....15million....you need 125 years to squander it away on China mei-mei leh.

 

How to waste it all on China mei mei in 3 years? Possible?

[Watwheels]

High profile lottery winners are a target board for crooks and conman. U dun see our local lottery system put lottery winners in the media.

[Tunge]

wah if i got 15mil i'll go buy a couple of landed property pay in full and collect rent for rest of my life man...

hmmm... too bad i don't buy lottery so no chance to strike it rich

[Leepee]

Maybe I am not rich enough to understand how one can squander away such hugh amount of money. Put inside bank, and live on the interest alone is more than enough and the capital will never deplete(unless the bank bankrupt)

 

 

Two out of 3 spend their lottery winnings away

April 14, 2008

 

MONEY can't buy you happiness.

 

And going by past examples, lottery winners rarely end up happy. Instead, many of them end up in the dumps.

 

Take Billie Bob Harrell Jr. In 1997, he hit the US$37 million Texas jackpot only to end his life less than two years later. Or Juan Rodriguez, who won US$149m in a New York lottery in 2004 but lost his wife soon after. Then there's 19-year-old Michael Carroll who pocketed 贈10m in a British lottery in 2004 but ended up with a string of drug offences.

 

Mr Stephen Goldbart, co-director of the Money, Meaning and Choices Institute in San Francisco, says two out of three lottery winners lose or spend all their winnings within five years.

 

He told CNN: 'The average American lives pay cheque to pay cheque. So when they come into sudden wealth, they have to learn the financial ropes of planning.'

 

Dr Steven J Danish, professor of psychology at Virginia Commonwealth University in Richmond, has counselled lottery winners for over 12 years.

 

He told The Boston Globe that almost all of his patients have had serious problems after collecting their winnings. After the initial shock passes, a sense of guilt often arrives, along with the hoards of people asking for money, which is often the biggest source of stress, he said.

 

Psychologist Cary Cooper told BBC News that those who are dissatisfied with their lives beforehand are not rescued by money.

 

And those who quit work may find themselves isolated and at a loose end, especially if they've started a new life far from their old social circle.

 

Before Mr William Post, 63, cashed in his winning ticket for a US$16m Pennsylvania Lottery in 1988, he knew it would bring him trouble.

 

Mr Post's younger brother was arrested for hiring a hit man to kill him. He claims other siblings pestered him to invest in various business deals that fell through. A former girlfriend also sued him for failing to share his money.

 

Now, he lives in a three-bedroom home. Legal fees and taxes ate up the rest of his winnings. He lives on US$450-a-month Social Security payments and food stamps, but he's not complaining.

 

He said: 'I've got peace of mind and you never realise how valuable it is until you lose it.

[Boyboy]

look at michael jackson.. for e.g.

 

look at all those stars. they are human too.

 

for a normal person (actually u are probably more well off than most ), hard to imagine.. but somehow, pple are just amazing!

[Typhoonz]

I think it's possible to squander any amount of money in 3 years... Just anyhow spend lor...

[Leepee]

I need a listed proposal to show how you can waste away that money in 3-5 years.

Don't tell me invest all in Sunshine Empire hor.

Or invest in USB or Thailand/Indo communications hor.

I mean no idiots will put the entire winnings on a single scam right? Unless he is so suay that all his investments are scams.

 

 

But I am puzzled why did he not EVEN keep 1 or 2 million as safe guard in a bank?

[Nhyone]

Easy come easy go.

 

It's simple. You have never managed such a big sum of money before, so you don't know what to do with it. Then, before you know it, you have spent it all. Sounds familiar with our CPF at 55 years old?

[Typhoonz]

No need for a proposal...

 

I'll just get a huge house with a huge front porch and add on some big time reno to complement the place...

 

Buy a few of ferraris, lambos, RRs...etc. Travel in first class everywhere I go... Stay in luxurious hotels... Eat the most expensive stuff I can get my hands on...

 

No need 3 years... Live like that for 2 years can spend 15 million liao...

[Friendstar]

like one bro mentioned, its even possible to spend all of bill gates money.

 

All u need is to do one activity.

 

Gamble.

[Typhoonz]

Gamble? Like that don't need 3 years... Think 1 week can liao... Or maybe 1 single night in the high roller's club...

[Friendstar]

ya loh

 

tats what i'm trying to mean mah

 

money is never enough if u gamble

 

but imagine u keep winning, and the money just kept doubling. LOL

[Leepee]

Ok..the lambo and house still go value after 3 years right?

 

What I am asking is how possible to lose it all and back to begging for social welfare.

 

At least sure got 1million held in some bank account as safe guards right?

[Typhoonz]

Shi du jiu shu ah...

 

If gambling can support your life, Xinkarpor pools would be privatised liao lor...

[Typhoonz]

If a person wants to squander their money away, they will have no back up, no reserves...

[Comfy]

High profile lottery winners are a target board for crooks and conman. U dun see our local lottery system put lottery winners in the media.

 

chopping board...