What, is their money not as valuable?

[HEMI6point1]

Don't know where to post this so I'll post it here.

This was a while ago (wish I knew where it was), but I was reading an article (not online, this was in one of those local print magazines) on one of those matchmakers that set men who are well-off up with dates that are compatible with them.

One of the questions posed to her was "what about lottery winners?"

Her response was, "I don't service lottery winners. First, these men are one digit off from being back in their old lifestyle, and many times not a positive lifestyle at that. Second many lottery winners go broke in just a few years because they don't know how to manage the money. Women I deal with want someone more responsible than that."

I have two issues with what she said: The successful lottery winners will tell you the old "them" died when they were given the big check, and a new "them" was born. Also, there are many successful lottery winners who know how to invest the money and not blow it all (the media only likes to focus on the horror stories).

My point is, if a guy who got lucky was handed 30 million dollars in a lottery, what makes his money less valuable than someone else if he wants to pay for a service?

[Jack]

It's not that the money isn't valuable, it's that she apparently wants to find people who are reliable and stable to match with her clients. While there are some people who can manage previously unexperienced amounts of money, most lottery winners, as I've heard, do fail to manage their winnings and return to their previous lifestyle, which may be below this matchmaker's standards.

If the matchmaker were reasonable, I think, she would allow lottery winners who had had some number of years to establish stable finances and demonstrate that they aren't a flash-in-the-pan winner who's about to lose it all again.

Also, I can see lottery winners saying that they are a new person, but this doesn't mean they suddenly become good at managing money or lose any previous character traits. They just have the means to reinvent themselves now.

[Boozy]

My point is, if a guy who got lucky was handed 30 million dollars in a lottery, what makes his money less valuable than someone else if he wants to pay for a service?

Because the people who earned the $30 million have the ability to make more. They have the connections or skills (or both) required to become rich. I'm not a fan of gold-diggers, but for many women, it's not the money that they find appealing. It's the confidence, intelligence, or sophistication of a man who has a lot of it. Lottery winners aren't likely to carry those same traits.

Besides, most lottery winners do squander it all, and quickly. Not all, but many. And how surprising is that, really? They bought a lottery ticket to begin with, and as they say, lottery tickets are just a tax on people who are bad at math.

[Greenday]

What makes a guy's $30 million that he won in the lottery less valuable than the guy who earned his $30 million? The fact that one knows how to make money.

[lordlundar]

I can see why they don't. Lottery winners are in the public eye, so they tend to attract gold diggers who will leave the second the money runs out, and lottery winners tend to suddenly have more money than they know what to do and start a splurge fest. Next thing they know, the money is gone. Both are an extremely bad combination and insanely bad for business when it get's revealed that the matchmaker got those two together.

[guywithashovel]

This kind of reminds me of something that one of my professors back in college said: People may make more money, but they usually remain in the same social class.

I can't remember if that's exactly how he worded it, but if not, it's a good enough rendition for this topic.

What he meant was that people who suddenly strike it rich through venues like the lottery usually keep most of their old lifestyles. The somewhat humorous example he used was a "redneck" family who wins the lottery and moves into a big house in a really posh neighbhorhood, but still throws wild hillbilly parties with cans of Natural Light and Bud Light floating in the swimming pool.

Okay, that's just an anecdote and I don't have any sources to back it up (and I dont' feel like looking), but there's probably truth to it. A person who has earned several million dollars has likely learned how to live the upper class lifestyle, and chances are, that's what the women using this site want.

[Andara Bledin]

I, too, can see the point of not having lottery winners as clients.

It's not about the money, precisely, but everything else that comes with being rich that was either earned through hard work or through being born into the right family.

There is a reason why 'nouveau riche' is often used in a derogatory fashion.

^-.-^

[AdminAssistant]

The somewhat humorous example he used was a "redneck" family who wins the lottery and moves into a big house in a really posh neighbhorhood, but still throws wild hillbilly parties with cans of Natural Light and Bud Light floating in the swimming pool.

I think they even did a TV show about that.

[HEMI6point1]

I can see why they don't. Lottery winners are in the public eye, so they tend to attract gold diggers who will leave the second the money runs out, and lottery winners tend to suddenly have more money than they know what to do and start a splurge fest. Next thing they know, the money is gone. Both are an extremely bad combination and insanely bad for business when it get's revealed that the matchmaker got those two together.

You have a point, but you are probably looking at the horror stories the media likes to pander to the public.

I think they even did a TV show about that.

Beverly Hillbillies FTW!

I'll use an example. Right now, the Powerball is up to 67 million. In a state like FL with no state taxes you'll wind up with around 31 million (With cash option it's 63% of the jackpot minus 25% federal taxes).

I would take out around 3 million to splurge on things I've always wanted to get: cars (only one would be an expensive foreign ride: a Bentley Continental GT, all others would be your average big three vehicles), race car setup, house, new furniture, new tech, money for a rainy day etc. I would not be interested in wild parties or the like, or take expensive vacations. Then I would invest the rest in tax frees. Properly invested 28 million would give you over half a million a year in income.

[muses_nightmare]

This kind of reminds me of something that one of my professors back in college said: People may make more money, but they usually remain in the same social class.

I can't remember if that's exactly how he worded it, but if not, it's a good enough rendition for this topic.

What he meant was that people who suddenly strike it rich through venues like the lottery usually keep most of their old lifestyles. The somewhat humorous example he used was a "redneck" family who wins the lottery and moves into a big house in a really posh neighbhorhood, but still throws wild hillbilly parties with cans of Natural Light and Bud Light floating in the swimming pool.

My uncle won half a million a couple of years ago, he's still living his same lifestyle. Given he used to make really good money where he worked. He's a pretty generous person too, gave my mom and my aunt 100 grand each. He also sent me a Kobo e-reader for x-mas this year. But he still lives in a run down house that he shares with another guy (he lives in the basement suite, the other guy lives in the rest of the house). He still plays the lottery and keno.

There was another guy that I don't know personally, but if you drive through the town he lives in (a very small town in Northern BC), you'll see a big nice house, surrounded by dozens of cars and car parts, not nice cars that I can see, it looks like a junk yard. He won a few million and managed to blow through it pretty quickly, so the story goes.

I can kind of see the point about lottery winners not knowing how to manage money as much as someone who has earned the money. I mean, it's not always true of course. I think the fair thing would be to only allow those lottery winners who have had the money for a few years or so and can prove that they are managing it properly. I don't think it's fair to group all of them together into one group.

[lordlundar]

I don't think it's fair to group all of them together into one group.

Maybe not, but when you run a business that is dependent on your reputation, you go to the most sure bets that it will be successful, and lotto winners tend to be crap shoots at best.

[Andara Bledin]

I imagine the person running the site excludes all nouveau riche type men. It's just that "lottery winners" are almost exclusively a subset of that group, so she doesn't have to do further research.

^-.-^

[muses_nightmare]

If it were fair then someone who won but was able to invest well, or start a successful business shouldn't be ignored. Some people just need that boost of money to get them started in some things. I know if I won I wouldn't just be sitting around spending it, I'd still be working in my chosen field.

[Aethian]

I believe the Millionaire Matchmaker doesn't take lotto winners either. She will take window/ers who got their money due to the death of their spouse. But you better be prepared for her to go through your background and take you apart piece by piece.

[Amanita]

If I won the lotto, yes I would treat myself to a few things- get myself a nice place to live, and move someplace I like a lot better than where I live now. But I would take that money and use it to improve my life- go back to school and study fashion and costume design. And some business courses too.
In short, the money would be a hand-up, helping me fix a lot of things that need fixing.