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Monday, October 25, 2010

Money Changes Everything

I must admit that I am suprised over the developments of Mr. Gough's life after winning more than 9,000,000 pounds playing the lottery, but then it may be more common than we think...

"A father-of-two who won £9million on the lottery was so 'bored' after he gave up his job as a baker he drank himself to death , Keith Gough, 58, of Bridgnorth, Shropshire, was thought to be penniless when he died in March after suffering a heart attack brought on by drinking and stress.
But he had actually left nearly £800,000 in his will it emerged last week.

Mr Gough and his wife Louise won £9million in 2005 and splashed out on a top-of-the-range BMW, racehorses and an executive box at Aston Villa Football Club.
But the couple, who were married for 27 years, separated two years later after Mr Gough quit his job and began drinking heavily out of 'boredom'.

He moved to Cheshire where he rented a £1million home and hired a chauffeur and a gardener on annual salaries of £25,000 and £15,000 respectively."

It's easy to look at this situation with 20/20 hindsight and say that I (or any of you for that matter) would have done things differently. Had such a windfall come my way, the first thing I would do is establish a charitable trust foundation out of concern of tax purposes and because that's what I would like to do anyway. Especially helping this charity that is near and dear to my heart. One could almost make a full time job out of it. I doubt that I would quit my job, but I'd keep it mum that I had won anything so large as to not invite swindlers. What would you do in such a situation?


Gregg said...

First, I hope I never win anything like a huge lottery.

Second, I have heard however, that the chances of winning are higher if you play the lottery. I have bought one lottery ticket in my short 55 years.

Third, my heart and conviction is the same as David's in Psalm 37:16.

JD Curtis said...

If there's a HUGE Lotto jackpot, I'll buy one ticket, for a dollar. That's all.

I've entered into "pools" with co-workers before but I could count on one hand the times that I've done that in the last 10 years.

belfast cabby said...

I love people who say that "all that money wont make you happy" they are probably correct I suppose. I am pretty bloody sure I would be a better shade of miserable!

The one thing I wouldn't do is buy an executive box at Aston Villa Football Club.

Froggie said...

The lottery is a tax on dumb people who don't understand statistics.

Gregg said...

If it wouldn't be so insulting to dumb people, I would agree with Froggie. If the government can't get it on the front they will get it on the back.

Whateverman said...

I'd find a job. By that, I mean something I enjoyed doing that I could take pride in; I like to think I'd become a park ranger. I'd spend half and invest/save the other half, and find a way to live my life such that money wasn't a central part of every frikkin decision I had to make.

The Catholic Apologist said...

Hi JC again!

It depends- if I hit a million dollars, after taxes I would be left with about 600K. 600K is a nice bit of change, but not something you will be rich on unless you invest it and know what you are doing.

I am not greedy. I would give some of it away, buy a new car, pay off my debts, the rest I would save to retire on, or simply have for a rainy day. I would not quite my job. I would go right on working.

If on the other hand I hit big- like 27 million or more, I would probably give most of it away, but keep enough for myself that if I ever could not work, I could live very comfortably and never worry. But I would not quite what I am doing. I would go right on with work.

As for keeping it quite that you hit the lottery- I don't think that is possible. In the name of public disclosure, state lotteries are required to make public the winners. By giving most of the money away, you discourage swindlers becasue you can always say "I gave up most of the money."

The Catholic Apologist said...

PS, don't ask why I spelled quit "Quite"

The Catholic Apologist said...


Money cannot buy happiness, but it can buy independence, which is what I think most people believe will make them happy. That is what people seek, becasue that is what the devil tells them will make them happy: Independence. The pursuit of money is really about the pursuit of independence, a worry free life.

Independence does not make one happy, but it does make life easier! Money does not bring a worry free life, it simply means one who has money has one less thing to worry about.