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moniss

(8,298 posts)

42. I expect full blown "means testing" to

Reply to thesquanderer (Reply #38)

Tue Sep 16, 2025, 09:44 PM

Sep 16

come in at the very least.

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Publishers Clearing House's bankruptcy means 'forever' winners will no longer get paid [View all] BumRushDaShow Sep 16 OP

If he had invested just half of that annual $260,000 check for ten years Fiendish Thingy Sep 16 #1

Sure, but he was promised he didn't have to. yardwork Sep 16 #3

He had every reason in the world to believe it was a possibility. NoRethugFriends Sep 16 #7

Yes. He should have treated the annuity like stock in the company exboyfil Sep 16 #14

Most of the magazine business has dried up. IbogaProject Sep 16 #25

But couldn't that happen to somebody even with a regular annuity? raccoon Sep 16 #16

Sadly, he was a fool not to think of the possibilities. From what I niyad Sep 16 #23

I absolutely agree w/ you. Put some money aside until you build your own nest egg, and then truly celebrate/live. SWBTATTReg Sep 16 #4

I have had plans in mind for decades of what to do if I were ever to come into niyad Sep 16 #6

And THAT is exactly the reason I would take a cash payout up front niyad Sep 16 #2

You are so right. Always get moniss Sep 16 #20

I intended to wait for 70 to get Social Security for largest payout, now I think I should take it sooner. (n/t) thesquanderer Sep 16 #38

I expect full blown "means testing" to moniss Sep 16 #42

Industry squeeze's a way out from under responsibility Torchlight Sep 16 #5

Yes. yardwork Sep 16 #9

Ed McMahon is at fault. twodogsbarking Sep 16 #8

If they do come to your house don't answer the door. They want their money back. twodogsbarking Sep 16 #10

If I was a prize winner I would talk to a lawyer. Mosby Sep 16 #11

Bankruptcy for corporations needs to be done away with. The Mouth Sep 16 #17

I think PCH was a family operation IbogaProject Sep 16 #27

It should be about NO ONE having ANY way to avoid obligations they willingly undertook The Mouth Sep 16 #30

May you receive everything you deserve. niyad Sep 16 #34

I have no idea of what you are talking about The Mouth Sep 16 #41

remdi95 niyad Sep 16 #43

I always assumed that PCH and similar prize givers bought an annuity ClaudetteCC Sep 16 #12

That is what Steve Young had the USFL do exboyfil Sep 16 #15

BTW, tsf destroyed the USFL. rubbersole Sep 16 #35

5k/week for the last ten years. niyad Sep 16 #28

I remember looking at the REALLLLLLLLY FINE PRINT on one of niyad Sep 16 #31

One less worry for me, since I never won PCH! LeftInTX Sep 16 #13

So, buyout outfits like J.G. Wentworth are left holding the bag? PSPS Sep 16 #18

On the other hand, maybe Wentworth went out of business along with PCH? FakeNoose Sep 16 #19

All "forever" payments are never guaranteed. Companies often will screw you over. Oneironaut Sep 16 #21

Sort of like how social security recipients and disabled veterans will feel Mysterian Sep 16 #22

Slight difference being that Social Security is OUR MONEY that they niyad Sep 16 #24

Unless the terms of the winning angrychair Sep 16 #26

Ummmmm, do you remember Hostess? Went "bankrupt", was "bought out", niyad Sep 16 #32

I had forgotten angrychair Sep 16 #40

Isn't/wasn't one of the midwest states that had annuity lottery winners in default? 3Hotdogs Sep 16 #29

The only thing forever under capitalism is the rich will get richer forever. nt ImNotGod Sep 16 #33

exactly niyad Sep 16 #36

I had no idea that was still a thing! Initech Sep 16 #37

He thought he'd get $ the rest of his life. I thought I'd be living in a democracy. Life is full of disappointments. nt thesquanderer Sep 16 #39

Unfortunately like with a lot of sports players that got super wealthy quickly fujiyamasan Sep 17 #44