Comments on: Won The Lottery http://www.stevenlohrenz.com/won-the-lottery Steven Lohrenz's how to make money online and lifestyle design blog. Sat, 31 Jul 2010 12:19:11 +0000 hourly 1 By: Sage@Rhode Island Truck Driving Schools http://www.stevenlohrenz.com/won-the-lottery#comment-527 Sage@Rhode Island Truck Driving Schools Mon, 30 Jun 2008 22:08:14 +0000 http://www.stevenlohrenz.com/won-the-lottery#comment-527 I agree with Matia. Lack of planning and discipline can essentially be detrimental in anything. In attempts to save and watch where she spends her money, my roommate now withdraws x amount of cash each month and uses it to go shopping. It really is an effective way to see where you money goes. I think she's been successful thus far! I agree with Matia. Lack of planning and discipline can essentially be detrimental in anything. In attempts to save and watch where she spends her money, my roommate now withdraws x amount of cash each month and uses it to go shopping. It really is an effective way to see where you money goes. I think she's been successful thus far!

]]> By: Carnival of Financial Learning #5 | Financial Learn http://www.stevenlohrenz.com/won-the-lottery#comment-523 Carnival of Financial Learning #5 | Financial Learn Sun, 29 Jun 2008 17:41:57 +0000 http://www.stevenlohrenz.com/won-the-lottery#comment-523 [...] Lohrenz presents Won The Lottery posted at Steven [...] [...] Lohrenz presents Won The Lottery posted at Steven [...]

]]> By: Steven Lohrenz@Make Money Online http://www.stevenlohrenz.com/won-the-lottery#comment-520 Steven Lohrenz@Make Money Online Wed, 25 Jun 2008 16:08:25 +0000 http://www.stevenlohrenz.com/won-the-lottery#comment-520 <p>I have to agree, it's a lack of planning and lack of discipline. Most people spend everything they have. You have to start the good habits today and take it day by day. If you don't have the good habits, bad habits tend to take over.</p> I have to agree, it's a lack of planning and lack of discipline. Most people spend everything they have. You have to start the good habits today and take it day by day. If you don't have the good habits, bad habits tend to take over.

]]> By: Matia http://www.stevenlohrenz.com/won-the-lottery#comment-519 Matia Tue, 24 Jun 2008 20:30:34 +0000 http://www.stevenlohrenz.com/won-the-lottery#comment-519 I am not sure it's a lack of knowledge that causes lottery winners to lose it all. I think it is a lack of planning and a lack of self-discipline. If you just spend your money until it is all gone now, and live paycheck to paycheck... that is the kind of mentality that makes the money slip away. At the beginning of every month, you need to have a plan for every dollar you have... put a name to it... do that every time whether you have $1000 dollars or a million... then the money will do what you want it to do. Oh, and cutting up the credit cards, and paying cash for everything helps, too. {Drinking the KoolAid - ala Dave Ramsey} BTW, loved your post about trying to help your parents unload some of their stuff. Still struggling with my own stuff. I am not sure it's a lack of knowledge that causes lottery winners to lose it all. I think it is a lack of planning and a lack of self-discipline. If you just spend your money until it is all gone now, and live paycheck to paycheck… that is the kind of mentality that makes the money slip away. At the beginning of every month, you need to have a plan for every dollar you have… put a name to it… do that every time whether you have $1000 dollars or a million… then the money will do what you want it to do. Oh, and cutting up the credit cards, and paying cash for everything helps, too. {Drinking the KoolAid – ala Dave Ramsey}

BTW, loved your post about trying to help your parents unload some of their stuff. Still struggling with my own stuff.

]]> By: B Smith @ Wealth and Wisdom http://www.stevenlohrenz.com/won-the-lottery#comment-518 B Smith @ Wealth and Wisdom Tue, 24 Jun 2008 19:40:46 +0000 http://www.stevenlohrenz.com/won-the-lottery#comment-518 I always find it sad that the majority of lottery winners go bankrupt. You are right about lack of knowledge. If you can't handle $30k per year how can you handle a million? I'd take 10% for fun and put the rest aside in a safe investment (money market, CD, etc). I would not touch it for one year. I'd spend the year getting acclimated to the money and learning where I want it to go. I always find it sad that the majority of lottery winners go bankrupt. You are right about lack of knowledge. If you can't handle $30k per year how can you handle a million?

I'd take 10% for fun and put the rest aside in a safe investment (money market, CD, etc). I would not touch it for one year. I'd spend the year getting acclimated to the money and learning where I want it to go.

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