So You Want to Win a Million?
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New Jean Scott Frugal Fridays Column
So You Want to Win a Million?
So, Jean, you advocate posing with the big check at the casino after
hitting that lifetime dream progressive?
Hmmm ... never occurred to do so myself if that heady occasion should
ever surface -- even if they were to offer up a modestly attractive
sum for publicity that I consider strictly to their advantage. Of
course, contrary to other evidence, I prefer to keep my head down
during the best of times.
I enjoy a pat on the back on occasion and well wishes from friends,
but that's the type of event I'd definitely play low key --
particularly (as you note) with family and close friends who, while
well intentioned, can let envy as well as aggressive expectations
about "sharing the wealth" get the better of them.
I'd be no miser and would indeed be generous (with some allowance for
college funds for the younger, according to winnings) -- vaguely
citing better fortunes in life these days. But if I walk away with a
$1 mil jackpot, not to even consider the $ mils you speculate on, I'd
prefer few to be the wiser. (Pull down $10 mil and I imagine it would
be pretty hard to be discrete about it in any circumstances. That
vacation home in the Hamptons might be the telltale 
On the other hand, you maintain a pretty public profile so I can
readily see where you're coming from. And as for myself, it's been
well over a year since I've dropped a few bucks on Megabucks, WOF, or
the like, so I'm not really sweating the day ... just dreaming of it 
- Harry
I wrote:
So, Jean, you advocate posing with the big check at the casino after
hitting that lifetime dream progressive?
Oops, just noticed on re-read that a guest columnist, Cee Stuart,
penned this weeks Frugal F. (Come on, Jean, your guest writers
deserve a "bold face" byline
Care to weigh in on your thoughts on playing up a mega win, Jean?
- H.
It would be difficult with contest executives glaring at me, but I would
flat refuse to sign the media release unless refusing meant I had to give up
the prize.
People Magazine had an excellent article a while back where they interviewed
people who've won multi-million dollar jackpots (lottery winners, in this
case). ALL of them had problems dealing with this life-changing event. The
more outsiders who knew about their good fortune, the more problems they
had. And I'm not just talking about the usual parasite friends and
relatives coming out of the woodwork. More than one contest winner has been
the victim of attempted identity theft. Scam artists came at them from
every conceivable angle. Everyone has a tendency to say "Well, they can't
fool ME", but it's easier than you think it is.
The best advice I've seen is: Collect your winnings. Don't sign the media
release. Hire a good attorney. Hire a financial advisor. Refer EVERY
REQUEST FOR ANYTHING to the people you've hired to protect you. Finally, be
prepared for your list of "people who genuinely care about you" to be a lot
different--and much shorter--than it was before winning.
carlos
···
-----Original Message-----
From: Harry Porter [mailto:harry.por…@…net]
Sent: Saturday, March 20, 2004 6:26 AM
To: vpFREE@yahoogroups.com
Subject: [vpFREE] Going Public (was: New Jean Scott Frugal Fridays Column)
So You Want to Win a Million?
There has been a lot of interest in this guest article - I guess all
gamblers have at least a bit of a dreamer in them!!!
Anyway, I plan to use the next FF column for comments/reactions to this
article. If you have a comment, you can send it to me directly or post it
on the forum boards and I will include as many of these as I can.
···
________________________________________
Jean $�ott - Go to http://www.FrugalGambler.biz
for VP software and strategy cards; "frugal" books;
and the NEW "Tax Help for the Frugal Gambler."