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Posted: 12/12/2013 1:34:14 PM EDT
Former Powerball jackpot winner dies penniless at 58 yrs old





http://www.kentucky.com/2013/12/02/2965528/powerball-winner-edwards-dies.html
Mr. Edwards was thrust into the national spotlight in August 2001,
when he won a one-fourth share of a $280 million Powerball jackpot. At
the time, it was the third-largest lottery pot in U.S. history. He opted
for a lump-sum payment of $41 million, banking $27 million after taxes.





At
the time of his windfall, Mr. Edwards was 46, had been laid off from
his job installing fiber-optic cable and was living in his late parents'
house on Victoria Avenue in Westwood. He had borrowed money from a
friend to get his water turned back on, and, after doing so, he had
enough left to take his then-fiancee, Shawna Maddux, 19 years Mr.
Edwards' junior, to go out for drinks at the Ashland Plaza Hotel. Along
the way, the couple stopped at Clark's Pump-N-Shop on Wheatley Road, and
Edwards bought $7 worth of Powerball tickets.





 
Link Posted: 12/12/2013 1:35:24 PM EDT
Retard
Link Posted: 12/12/2013 1:36:14 PM EDT

Must have been an awesome 12 years!
Link Posted: 12/12/2013 1:36:39 PM EDT
Poor people are poor because they can't handle their money
Link Posted: 12/12/2013 1:37:23 PM EDT
Wait for it...
Link Posted: 12/12/2013 1:37:44 PM EDT
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By Mikhail_86:
Poor people are poor because they can't handle their money
View Quote

Link Posted: 12/12/2013 1:38:54 PM EDT
How come this guy didn't become a great money manager after he got all that money?  Isn't this just like how you can hold a nice guitar and you instantly know how to play it?  
Link Posted: 12/12/2013 1:39:02 PM EDT
Link Posted: 12/12/2013 1:40:13 PM EDT
The fact that he couldn't pay his water bill, but spent his last couple of borrowed dollars on drinks, says a lot about this guy.
Link Posted: 12/12/2013 1:40:58 PM EDT
Reporters grilled Edwards about his past, which included a stint behind bars for the armed robbery of a convenience store 20 years earlier and repeated parole violations that kept sending him back to prison.
View Quote


For once he got to keep the money from a convenience store.
Link Posted: 12/12/2013 1:41:13 PM EDT
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By alphabavo:
The fact that he couldn't pay his water bill, but spent his last couple of borrowed dollars on drinks, says a lot about this guy.
View Quote

And lottery tickets.
Link Posted: 12/12/2013 1:41:23 PM EDT
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By alphabavo:
The fact that he couldn't pay his water bill, but spent his last couple of borrowed dollars on drinks, says a lot about this guy.
View Quote


nah man you just don't understand.

The man was keeping him down
Link Posted: 12/12/2013 1:41:24 PM EDT
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By Mikhail_86:
Poor people are poor because they can't handle their money
View Quote


It just blows me away how many people can't seem to understand that managing money is a skill, but then they can seem to grasp that so many other things are.  It's not just a weird coincidence that he was broke before and after winning the lottery.  
Link Posted: 12/12/2013 1:43:32 PM EDT
[Last Edit: 12/12/2013 1:44:51 PM EDT by KlubMarcus]
Ha Ha!

Is his mansion up for bid? I smell blood in the water!
Link Posted: 12/12/2013 1:43:39 PM EDT
It's a strong indication that your life is taking a turn for the worse when your wife stabs you with a crack pipe.  
Link Posted: 12/12/2013 1:43:54 PM EDT

Discussion ForumsJump to Quoted PostQuote History
Originally Posted By Mikhail_86:


Poor people are poor because they can't handle their money
View Quote
Exactly.

 



Want to know why so many lottery winners end up broke, just ask yourself what kind of people play the lottery.




The day this guy picked up the check, there was no doubt how it was all gonna end.






Link Posted: 12/12/2013 1:44:06 PM EDT


A loser to the bitter end.


Link Posted: 12/12/2013 1:44:28 PM EDT
Hell of a story. At least a portion got donated to charities.
Link Posted: 12/12/2013 1:44:52 PM EDT
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By runcible:
Exactly.  

Want to know why so many lottery winners end up broke, just ask yourself what kind of people play the lottery.


The day this guy picked up the check, there was no doubt how it was all gonna end.




View Quote View All Quotes
View All Quotes
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By runcible:
Originally Posted By Mikhail_86:
Poor people are poor because they can't handle their money
Exactly.  

Want to know why so many lottery winners end up broke, just ask yourself what kind of people play the lottery.


The day this guy picked up the check, there was no doubt how it was all gonna end.







Hey now! I play a couple of times a decade!!!


Link Posted: 12/12/2013 1:45:21 PM EDT
I have to remind myself when I occasionally buy a ticket that people who manage their winnings wisely, put some away for retirement and into good investments, don't get sucked into failed schemes, and don't go nuts on drugs -- also don't get mentioned in the papers.  
Link Posted: 12/12/2013 1:46:40 PM EDT
The Austrian was weak in this one.
Link Posted: 12/12/2013 1:46:48 PM EDT
In November 2001, Mr. Edwards and Maddux moved into a 6,000-square-foot, $1.5 million home in Palm Beach Gardens, Fla. The couple married in Maui on New Year's Day 2002.

During his time in Florida, Mr. Edwards amassed a fleet of exotic cars, for which he paid more than $1 million. He also told NBC News that he paid $78,000 for the gold-and-diamond watch on his wrist and $159,000 for the ring he wore. He also boasted of having 200 swords in his collection of replica medieval weapons, and a plasma TV he said set him back $30,000.

Mr. Edwards also bought a $600,000 house in Palm Springs, Calif., his own limo company, a $1.9 million Lear jet, three racehorses and a fiber-optics installation company, which he acquired for $4.5 million. A year after he'd won the lottery, he estimated that he'd spent $12 million.

BAM, atta boy.
Link Posted: 12/12/2013 1:47:07 PM EDT
Bush's fault.
Link Posted: 12/12/2013 1:47:46 PM EDT
"Take that, death tax!!"
Link Posted: 12/12/2013 1:48:16 PM EDT

Let me face the peril!





Link Posted: 12/12/2013 1:48:18 PM EDT
[Last Edit: 12/12/2013 1:49:19 PM EDT by Isenhelm]
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By RarestRX:

Must have been an awesome 12 years!
View Quote

First thing I thought of lol

i watched some show about the few.. who buy lottery tickets and actually win and then end up broke... It was mostly WTF? and none of the fuck yeah


Posted Via AR15.Com Mobile
Link Posted: 12/12/2013 1:48:32 PM EDT
The Edwardses' life eventually began to spiral out of control, fueled, according to a Florida newspaper account, by their escalating drug use. Police were called to their home on one occasion in 2004 after Shawna Edwards stabbed her husband with a crack pipe.

Read more here: http://www.kentucky.com/2013/12/02/2965528/powerball-winner-edwards-dies.html#storylink=cpy
View Quote


Yep, drugs involved.
Link Posted: 12/12/2013 1:48:51 PM EDT
A year after he'd won the lottery, he estimated that he'd spent $12 million
View Quote


I'm surprised he lasted that long, spent almost half his money in one year.  What could possibly go wrong?
Link Posted: 12/12/2013 1:48:57 PM EDT
SOMEBODY got the money, even if it passed through Mr. Dumbass's hands.

So there's that.
Link Posted: 12/12/2013 1:48:59 PM EDT
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By QwikKotaTx:
In November 2001, Mr. Edwards and Maddux moved into a 6,000-square-foot, $1.5 million home in Palm Beach Gardens, Fla. The couple married in Maui on New Year's Day 2002.

During his time in Florida, Mr. Edwards amassed a fleet of exotic cars, for which he paid more than $1 million. He also told NBC News that he paid $78,000 for the gold-and-diamond watch on his wrist and $159,000 for the ring he wore. He also boasted of having 200 swords in his collection of replica medieval weapons, and a plasma TV he said set him back $30,000.

Mr. Edwards also bought a $600,000 house in Palm Springs, Calif., his own limo company, a $1.9 million Lear jet, three racehorses and a fiber-optics installation company, which he acquired for $4.5 million. A year after he'd won the lottery, he estimated that he'd spent $12 million.

BAM, atta boy.
View Quote

What a tard.  No wonder he was broke in the first place.
Link Posted: 12/12/2013 1:49:29 PM EDT
The picture in the article is hilarious
Link Posted: 12/12/2013 1:49:47 PM EDT
Link Posted: 12/12/2013 1:49:59 PM EDT
Once a loser....
Link Posted: 12/12/2013 1:50:02 PM EDT
He was interviewed some years back about his lottery winnings and his house was littered with crap he bought, swords and all sorts of ugly crap.
He said he decided to live in that community because he would not stand out as he was just another rich guy among many others. He felt that would keep people from targetting him. I believe he lost his home because of unpaid homeowners association fees or that was the start of it.
Link Posted: 12/12/2013 1:50:30 PM EDT
I still swear by Thor's hammer that if win a mega lottery, I will buy a huge vessel and sail the seven seas.

We will plunder and pillage the whale hippies and laugh at their demise.
Link Posted: 12/12/2013 1:50:31 PM EDT
[Last Edit: 12/12/2013 1:50:56 PM EDT by testify4]
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By Mikhail_86:
Poor people are poor because they can't handle their money
View Quote


You got it.  I once read a theory that you could take all of the money out there, evenly distribute it, and eventually the innovators would have their pile again and the bad money managers would wind up poor again.
Link Posted: 12/12/2013 1:50:35 PM EDT
Sounds like he timed it just right.
Link Posted: 12/12/2013 1:51:15 PM EDT

Discussion ForumsJump to Quoted PostQuote History
Originally Posted By EasTexan:


I still swear by Thor's hammer that if win a mega lottery, I will buy a huge vessel and sail the seven seas.



We will plunder and pillage the whale hippies and laugh at their demise.
View Quote




 
I read all your posts in Dale Gribble's voice.
Link Posted: 12/12/2013 1:51:20 PM EDT
Link Posted: 12/12/2013 1:51:50 PM EDT
This is why you can give poor people all of the money in the world and they will go broke. Poor people are poor for a reason.
Link Posted: 12/12/2013 1:51:52 PM EDT
I remember seeing him on one of those lottery shows a few years back. He was serious white trash.
Link Posted: 12/12/2013 1:52:37 PM EDT
Don't they all end up broke?
Link Posted: 12/12/2013 1:53:20 PM EDT
well,, i guess money didn't make him happy.. .

next/.....
Link Posted: 12/12/2013 1:54:06 PM EDT
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By DrRemulak:
Don't they all end up broke?
View Quote



People who buy lotto tickets don't tend to be financial wizards. It's a tax for people who are bad at math.
Link Posted: 12/12/2013 1:55:13 PM EDT
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By Mikhail_86:
Poor people are poor because they can't handle their money
View Quote

Link Posted: 12/12/2013 1:55:40 PM EDT
Originally Posted By WildApple:
Former Powerball jackpot winner dies penniless at 58 yrs old

http://www.kentucky.com/2013/12/02/2965528/powerball-winner-edwards-dies.html

Mr. Edwards was thrust into the national spotlight in August 2001, when he won a one-fourth share of a $280 million Powerball jackpot. At the time, it was the third-largest lottery pot in U.S. history. He opted for a lump-sum payment of $41 million, banking $27 million after taxes.

At the time of his windfall, Mr. Edwards was 46, had been laid off from his job installing fiber-optic cable and was living in his late parents' house on Victoria Avenue in Westwood. He had borrowed money from a friend to get his water turned back on, and, after doing so, he had enough left to take his then-fiancee, Shawna Maddux, 19 years Mr. Edwards' junior, to go out for drinks at the Ashland Plaza Hotel. Along the way, the couple stopped at Clark's Pump-N-Shop on Wheatley Road, and Edwards bought $7 worth of Powerball tickets.

 
View Quote


Fucking asshole borrowed money from his friend to get drunk and gamble, lied and said it was to turn water on.
Link Posted: 12/12/2013 1:56:13 PM EDT
[Last Edit: 12/12/2013 2:01:37 PM EDT by wingnutx]


Discussion ForumsJump to Quoted PostQuote History
Originally Posted By www-glock19-com:



The picture in the article is hilarious
View Quote



Yup.





"This is what a rich guy looks like."





Needs a monocle.





 
Link Posted: 12/12/2013 1:57:24 PM EDT
Discussion ForumsJump to Quoted PostQuote History
View Quote



Stupid, drunken white trash before the money, during the money, and after the money.





Link Posted: 12/12/2013 1:58:05 PM EDT
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By Lightning_P38:
If it is the person I am thinking of, I worked with him once upon a time.

If that is who this was, the guy was a really nice dude, but had all of the taste, class and financial intuition that one can garner in Olive Hill, KY, which isn't much.

Like I said, really nice guy, but no clue about money. He won a shit load and all of a sudden believed he was a financial guru. He would leave thousand dollar tips at the Waffle House, bought Italian sports cars as impulse buys, bought former coworkers expensive cars. After spending a few hours with him shortly after his winning a lot of money, I was convinced he would be broke inside of two years, three at the very most.
View Quote


Ex-con, probation violator and drug addict. Don't think I would use the word nice to describe that.
Link Posted: 12/12/2013 1:58:24 PM EDT
Link Posted: 12/12/2013 1:59:15 PM EDT
[Last Edit: 12/12/2013 2:00:59 PM EDT by MonkTx]
I've never purchased a lottery ticket so I'm not exactly sure how my fantasy of winning the lottery is going to work out, but is it possible for average working Joe to win and not blow it all?
Me and my wife live modestly, no credit card debt but a mortgage and 2 small car loans. Is that an indicator that I could possibly not lose my freaking mind and go crazy with lottery winnings?


 
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