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Every evening Connie and I watch a few game shows, old ones. Sometime during the show the host asks the player “what will you do with the money if you win.” Sometimes there is group of players.
Invariably the answer is something like…I always wanted to go bird watching in the Amazon, I’m buying a new motorcycle. Taking the entire family to Europe is high on the list as is buying a dream car. I’m saving for a new tattoo. A world cruise was mentioned once. Then there is the opposite, one person winning a few thousand planned to buy his mother a house, a nice sentiment, but he may be disappointed. 😢
The problem is often that the money that could be won is not aligned with the dreams. $5,000 is not getting the family to Europe – barely Disneyworld for that matter. One show gives away a car-for four players to share. 😱
I wonder if these folks are just dreamers or they actually don’t realize how much stuff costs. I fear they often forget what they win is taxable. That’s a particular stumbling block if you win a prize like a car. Because of this, some prizes are never claimed although no data exists. Supposedly some shows allow a trade for cash.
I won a car once, a Volvo S-80. I had to pay sales tax before I could pick it up and the dealer gave me a 1099, thankfully for the dealer price, not the sticker price.
After all the screaming and hopping up and down, reality sets in. I live in an apartment, what am I going to do with a hot tub or outdoor kitchen? 🥵
My hope is someday I hear…I plan on paying off my credit card debt or student loan. I’m adding to my IRA or I’m investing in a mutual fund.
Nope, I have a very long wait I fear, producers don’t want sanity or frugality, they want excitement and fantasy. You can’t even make it on a show if you have a calm personality. 🤷🏻♂️
What strikes me is that even people who should know better fall into the trap. Last time Powerball hit a billion dollars, the family was all a buzz about what they would do with the money. Keep in mind that these folk are some well educated professionals; an attorney, an engineer, a police detective. They were all chipping in to buy tickets. I do get it, it’s fun to fantasize about winning. I offered to bet each of them $100 that they would not win the jackpot. No one took the bet. I know I know, I’m a real killjoy.
In NJ two weeks ago they were advertising that a $6,000,000 winning ticket was about to expire as it was never claimed. Should we feel sorry for the owner? Not sure, just know it wasn’t me 🤔
A couple of months ago, my father-in-law visited from Spain and, for reasons best known to himself, bought Suzie and me a lottery ticket. It’s been sitting on top of the bread bin ever since. I suppose I should probably check it at some point. We could be millionaires. Or we could just have a slightly disappointing experience.
Why disappointing? Not your loss in any case🤑
Maybe “underwhelming” is a better choice of adjective 😉
My local radio station triggers exactly the same reaction in me. Every Friday evening they run a prize draw — listeners call a premium number to enter, a random winner gets picked, simple enough. But throughout the week the DJs relentlessly talk it up, painting vivid pictures of how you might spend the winnings: a holiday, a new wardrobe, a weekend away. Not once do they suggest paying down your mortgage, or putting the money to work for your future.