My friend is 19 and a millionaire.... [Archive]

haiggy

Mar 8, 2009, 12:05 PM

This thread is kind of a spin-off of this thread, or atleast brought up the topic for me: http://forums.macrumors.com/showthread.php?t=226503

I'm currently 20 and have a friend who is 19 who I've known for my whole life pretty much. We lived on the same street since Grade 1 through 12 up until university where he moved out and bought his own house. How is this possible you ask? Well, he started playing poker when he was 16 online under his parents credit card and has since then moved on to live tournaments and won the EPT Dortmund 2008 for 933,600 euros when he was 18. Youngest person to win that much in a live tournament as far as I know. There's an article and video of the final table here: Article (http://www.bankrollboost.com/poker_blog/18-year-old-mike-mcdonald-wins-ept-dortmund/), Final Table (http://www.pokertube.com/Movies.aspx?movie=6188&title=EPT_S04_Dortmund_Ep03_4_4&player=1&page=8&FreeText=ept%20s04&list=9)
Every time I watch that video it's so crazy to actually SEE him on TV, playing with pros and winning that much money.

Anyways, he won that tournament when he was 18, plays online quite a bit and plays tables where pots will get up to $25k. Insane. From 16-19 he's made probably close to $3 million CDN and now travels the world playing in live poker tournaments. He paid off his parents' mortgage when he was 16 and bought them a new car.

Kind of unfortunate as since then, we have lost touch and I've seen him maybe once in the past year. Disappointing, actually. We'd always hang out at each other's house and we also played sports together (on the same team, etc.)

Anyways, long story but if you had ever won that much money what would you do with it? Would you give some of your close friends some cash? (Obviously not all of them) Keep in mind that $10k is only 0.33% of your money. Would you throw some parties? Obviously not spend or give it all away but ANYTHING? I personally believe I would but it's probably different when you're in that situation. I think it would be cool to buy my friends new cars or something.... maybe at least iPhones and pay for the contracts? Meanwhile he plans on buying like a used honda civic for himself... and doesn't spend very much.

I guess this is kind of more of a rant as how I feel as if I've lost a good friend to poker + gambling/money... and he hasn't really realized that or said anything to me about missing the old days or giving me some cash :P Haha I've tried to see him lately, and I did once but he hasn't really followed up with much as far as wanting to hang out again. I know I don't deserve anything from him as I didn't win it myself and it is not mine, but it's really hard not to be jealous....

What do you think?

Oh, and he's really good at math. Won tons of math contests, was very bright from a young age and was studying Actuarial Science at school. He left school after 2nd year to pursue poker and said he doesn't really plan on going back ever. Kind of a waste of a smart mind in my opinion.

BoyBach

Mar 8, 2009, 12:14 PM

More power to him!

If a million pounds was to magically fall into my lap tomorrow I'd buy a shack by the sea and grow a big, bushy beard to compliment it.

és:

Mar 8, 2009, 12:15 PM

More power to him!

If a million pounds was to magically fall into my lap tomorrow I'd buy a shack by the sea and grow a big, bushy beard to compliment it.

Amen to that, my brother. I'd do the same sort of thing. Although, I'm working on the beard through laziness in the shaving department.

petermcphee

Mar 8, 2009, 12:17 PM

If I won one million dollars, I would likely sever ties with all the people I grew up with who thought my talents were a waste of my mental abilities.

bobfitz14

Mar 8, 2009, 12:18 PM

it's nice to hear about you're friend's success in life, though i'm sorry to hear that you two have lost touch:(.

and as for what would i do towards my friends: i wouldn't buy iPhones for my friends just because i can, i would however be generous towards the people who actually cared about me. such as yourself towards your (hate to do it but, former?) best friend.

less important so small font....i am kindaaaa in the same boat, my best friend moved to Cali (i'm from Massachusetts) when we were in about middle school because of his dad's job. we lost a lot of touch, but i get to see him almost every Christmas though i wish i saw him more than that. his parents are wealthy, but they don't just like drop money on people for the sake of it.

just my two cents.

liquidtrend

Mar 8, 2009, 12:19 PM

More power to him!

If a million pounds was to magically fall into my lap tomorrow I'd buy a shack by the sea and grow a big, bushy beard to compliment it.

i would do the exact same thing, except instead of a shack it would be a loft, and instead of the sea it would be in nyc. and instead of growing a big bushy beard, i would be in a nice spa getting a facial.

haiggy

Mar 8, 2009, 12:26 PM

If I won one million dollars, I would likely sever ties with all the people I grew up with who thought my talents were a waste of my mental abilities.

lol Nice comment, great stuff.

I'm sorry but I was just referring to the fact that he is a smart guy - he could change the world in some way. Instead he's just essentially taking money from other people, etc. I wouldn't say that poker makes the world a better place, would you?

Sure he has to be smart to win, and good on him but to just win lots of money, not finish school, never have a job... to me that is a waste of a person's intelligence that could be used somehow for some good.

Thanks for your opinion :rolleyes:

it's nice to hear about you're friend's success in life, though i'm sorry to hear that you two have lost touch:(.

and as for what would i do towards my friends: i wouldn't buy iPhones for my friends just because i can, i would however be generous towards the people who actually cared about me. such as yourself towards your (hate to do it but, former?) best friend.

less important so small font....i am kindaaaa in the same boat, my best friend moved to Cali (i'm from Massachusetts) when we were in about middle school because of his dad's job. we lost a lot of touch, but i get to see him almost every Christmas though i wish i saw him more than that. his parents are wealthy, but they don't just like drop money on people for the sake of it.

just my two cents.

Sorry to hear that you're kind of in the same boat. Yeah he was my best friend for sure. Now communication is down to nothing. Sure friends move on, move, etc... but I lost the friend to gambling and what would be the worst part is he doesn't feel like he's missing out on anything.

MegaMillions

Mar 8, 2009, 12:34 PM

0.33% would be a lot more than 10k. Did you mean 0.033%?

$3 million is nothing. I've written out plans for if I win a $100 million jackpot.

First of all, i'd select the 200 people in my life that are closest to me, and give them each $100,000.

With the remaining $80 million I would invest $40 million of it in real estate, $35 million in high interest bonds and what not, and keep $5 million for myself to live on.

sn00pie

Mar 8, 2009, 12:34 PM

It's nice to hear a success story. The sad thing about poker/gambling is how lots of 16 year-olds are ruining there futures in hope that they too could become millionaires playing poker. I've got a close friend who is actually quite smart, but he gave up school and work so that he could fuel his poker thirst.

Money changes people. If I were to win $1 million, first thing I'd do is give half to my parents. After all, they are the reason I'm here. :)

#2. I'd buy a couple of cars.

#3. I'd invest the the rest or keep it in the bank.

Dagless

Mar 8, 2009, 12:36 PM

More power to him!

If a million pounds was to magically fall into my lap tomorrow I'd buy a shack by the sea and grow a big, bushy beard to compliment it.
I'd do that but with a place tucked away in Pennines or up in Scotland someware.

Dammit I might just do that anyway.

But yea I'd just get a nice house. Nice car (nothing flashy). Enroll myself on a few courses and sit comfortably for a good few years.

haiggy

Mar 8, 2009, 12:40 PM

Mr. lax

Mar 8, 2009, 12:43 PM

My best friend's grandmother left him, his sister, and their father each close to 3 million in her will. She'll still be around for years to come

haiggy

Mar 8, 2009, 12:45 PM

My best friend's grandmother left him, his sister, and their father each close to 3 million in her will. She'll still be around for years to come

What do you mean by that?

notjustjay

Mar 8, 2009, 01:07 PM

What do you mean by that?

Maybe she wrote it into her will, but hasn't died yet? Or that her memory will live on because of all the money that was left behind.

If I had a million dollars fall in my lap today? I'm involved with a non-profit (charity) summer camp that just bought their own property to build a campsite on (dining hall, cabins). They need to fundraise another half a million dollars or so to make it happen. I suspect I'd play a big part in that. :D

Apart from that, I imagine not much would change. I would invest the rest, pay off my mortgage, maybe buy a slightly nicer car to replace my Toyota (we're talking Lexus here, not Ferrari!), and be secure knowing that if I lost my job, I'd be able to manage.

TomsMacBook

Mar 8, 2009, 01:12 PM

Personally, I'd do something a tad different. I wouldn't go crazy spending things. I'd pay off my parents mortgage on our house in the UK, buy my mother a new G-Wagen, and quietly upgrade the things in my house.

Oh, and buy my gran a better car :D

Shotglass

Mar 8, 2009, 01:13 PM

I have a rather detailed plan for when I get rich, but I'll spare you the details.

I wouldn't spend a lot of money at first, I'd live a decent life, get some new clothes, furniture, ******** of music, but still keep it simple. What was left I'd put in a savings account that I would take a couple thousand out of every month. A fixed sum in a range where my money would last me till I was dead. That way, my biggest dream ever would come true - doing the job I love to do at the hours I want without ever having to worry about money.

BenEndeem

Mar 8, 2009, 01:27 PM

$3,000,000 by today's exchange is £2,100,000 so...

TVR Sagaris: £40,000
Expensive gifts: £50,000
Mattress: £100
Stash in that mattress: £1,000,000
Save and invest: The remaining million or so.

BoyBach

Mar 8, 2009, 02:04 PM

Stash in that mattress: £1,000,000

You'll be needing one of these (http://www.telegraph.co.uk/finance/personalfinance/4938778/New-safe-bed-allows-savers-to-safely-store-their-cash-under-the-mattress.html) then. ;)

Mr. lax

Mar 8, 2009, 02:10 PM

Maybe she wrote it into her will, but hasn't died yet?

That is exactly what i meant

MegaMillions

Mar 8, 2009, 02:43 PM

( 10,000 / 3,000,000 ) x 100% = 0.33%

Or am I missing something here....

30,500 x 0.33 = 10,065.

3,000,000 x 0.33 = 990,000.

3,000,000 x 0.0033 = 9,900.

Am I missing something??

Mr. lax

Mar 8, 2009, 02:48 PM

30,500 x 0.33 = 10,065.

3,000,000 x 0.33 = 990,000.

3,000,000 x 0.0033 = 9,900.

Am I missing something??

Ya, when you multiply it by .33 thats 33% percent, thats why it comes out at a million, if you want .33% you have to do 3,000,000 x 0.0033

haiggy

Mar 8, 2009, 02:48 PM

30,500 x 0.33 = 10,065.

3,000,000 x 0.33 = 990,000.

3,000,000 x 0.0033 = 9,900.

Am I missing something??

yes, 3,000,000 x 0.0033 = 9,900... but 0.0033 is 0.33% in decimal form... you have to multiply by 100% to get it in %.

so what you thought i did was 3,000,000 x 0.33.... but really i was doing 3,000,000 x 0.0033

0.33% = 0.0033
0.0033% = 0.000033

Edit: Yeah, Mr. lax has got it right

MegaMillions

Mar 8, 2009, 02:55 PM

yes, 3,000,000 x 0.0033 = 9,900... but 0.0033 is 0.33% in decimal form... you have to multiply by 100% to get it in %.

so what you thought i did was 3,000,000 x 0.33.... but really i was doing 3,000,000 x 0.0033

0.33% = 0.0033
0.0033% = 0.000033

Edit: Yeah, Mr. lax has got it right

Got it. :)

wangchunggti337

Mar 8, 2009, 03:12 PM

Hey man, I'm sorry you lost a friend. I know exactly what you're trying to say, I guess money corrupts most people. Not to say it made him a bad person, but it can change your priorities.

trule

Mar 8, 2009, 03:36 PM

Anyways, long story but if you had ever won that much money what would you do with it? Would you give some of your close friends some cash? (Obviously not all of them) Keep in mind that $10k is only 0.33% of your money. Would you throw some parties? Obviously not spend or give it all away but ANYTHING? I personally believe I would but it's probably different when you're in that situation. I think it would be cool to buy my friends new cars or something.... maybe at least iPhones and pay for the contracts? Meanwhile he plans on buying like a used honda civic for himself... and doesn't spend very much.

Sounds like you just want some money as a reward for your friendship. That's pretty poor form if you ask me. I bet he gets people being phoney with him all the time now that he has some dollars, no wonder he bailed.

I like your friend, he has made some money but has his feet on the ground. He is a numbers man and I expect he understands money much more than most.

A real friend would not want money or gifts just because.

haiggy

Mar 8, 2009, 03:39 PM

Sounds like you just want some money as a reward for your friendship. That's pretty poor form if you ask me. I bet he gets people being phoney with him all the time now that he has some dollars, no wonder he bailed.

I like your friend, he has made some money but has his feet on the ground. He is a numbers man and I expect he understands money much more than most.

A real friend would not want money or gifts just because.

That's not really what I want. Yeah it would be nice, but no. Nobody would refuse money. The poster above you understands. I was never phoney with him, never asked for money. I'm just saying it changed him in my opinion and came here to ask what you would do if you won lots of money... would you change or would you stick close to your friends.... let them enjoy it too or bail on them just because you now have money?

Sounds like you don't value your friendships very much if you were to get a huge chunk of change and just bail.

Maybe opinions also differ depending on age. When you're 19/20 that is A LOT of money, so much I wouldn't know what to do with it other than invest and stuff. I'd want to have fun with it as well. Maybe older people would just want it to be able to retire... well he's never worked a day in his life.

trule

Mar 8, 2009, 03:50 PM

Sounds like you don't value your friendships very much if you were to get a huge chunk of change and just bail.

Your friend sounds pretty reasonable, responsible and very modest to me, and from the sounds of things you are the one obsessing about money which is probably why he bailed.

If I came into some money and my best friend stated asking what I was going to do with it all, I would bail too because I don't need that kind of hassle - its annoying and its uncomfortable.

Eanair

Mar 8, 2009, 04:00 PM

I didn't grow up in a very privileged household financially, and many of the school and afterschool programs and activities I participated in allowed me in on scholarship. I've always said that if I ever fall into more money than I know what to do with, I could give very generous checks to the programs and activities that gave me scholarships when I was little to let me participate so that other kids in similar socio-economic positions could have opportunities to partake as well.

EDIT: As to if I would give my friends cash, that's a tough one. If any of them were in a situation where they needed some cash for an emergency, of course. But just to write a check out of the blue? I don't know. I would be afraid that if I wrote a check out of the blue and gave it to my friends, they might interpret it as a show off gesture of me flaunting my money, or perhaps think that I perceive them as in need of a handout. On the other hand, if they asked for money first, that's another can of worms. Would I think they just saw me as an ATM now? Or that they were placing more emphasis on the money than me? It probably depends on the personalities of everyone. Perhaps it would be less awkward if you gave a large chunk of change during a gift giving holiday or birthday or special event like an engagement, wedding, etc.

haiggy

Mar 8, 2009, 04:04 PM

Your friend sounds pretty reasonable, responsible and very modest to me, and from the sounds of things you are the one obsessing about money which is probably why he bailed.

If I came into some money and my best friend stated asking what I was going to do with it all, I would bail too because I don't need that kind of hassle - its annoying and its uncomfortable.

I never asked him what he was going to do with it. I never said anything about money to him except for "CONGRATULATIONS". Plus, I never needed to ask him what he was going to do with it... everybody else did. TV reporters, newspaper journalists, etc... that's how I found out he planned on buying a used car in the first place.

Yes, he's on his feet, being smart about it. I agree and I probably would be too, just not to the same degree. Which is why I'm asking to what DEGREE everybody else would go.

You're making assumptions.

marbles

Mar 8, 2009, 04:11 PM

lol Nice comment, great stuff.

I'm sorry but I was just referring to the fact that he is a smart guy - he could change the world in some way. Instead he's just essentially taking money from other people, etc. I wouldn't say that poker makes the world a better place, would you?

Sure he has to be smart to win, and good on him but to just win lots of money, not finish school, never have a job... to me that is a waste of a person's intelligence that could be used somehow for some good.

Thanks for your opinion :rolleyes:

Sorry to hear that you're kind of in the same boat. Yeah he was my best friend for sure. Now communication is down to nothing. Sure friends move on, move, etc... but I lost the friend to gambling and what would be the worst part is he doesn't feel like he's missing out on anything.
He is smart with numbers, that does not make him smart with people or anything else for that matter, maybe he could change the world? maybe not, maybe you could, maybe me ....who knows, anyone could change the world ....and often does.
Shame your friend moved on for you but it seems you & this guy were not best friends after all otherwise he wouldn't have just cut you out of his life ( which is what your sayin,.. isnt it ?) unless he had reason too and only you know how good a friend you was to him .

To the original question; I guess I'd just invest it, but not in a bank. Oh...I'd do an upgrade in one or two areas too

haiggy

Mar 8, 2009, 04:15 PM

He is smart with numbers, that does not make him smart with people or anything else for that matter, maybe he could change the world? maybe not, maybe you could, maybe me ....who knows, anyone could change the world ....and often does.
Shame your friend moved on for you but it seems you & this guy were not best friends after all otherwise he wouldn't have just cut you out of his life ( which is what your sayin,.. isnt it ?) unless he had reason too and only you know how good a friend you was to him .

Good point, but we were really good friends. He just kinda slowly faded away and now its just at the point where he's gone essentially. When we hung out that one time this year, he said it was really fun and he missed it all.... but then I heard nothing later about wanting to hang out again. Back to poker. So I dunno... now his friends are all just other poker players and he's met lots of other people.

Abstract

Mar 8, 2009, 04:25 PM

If I won that much money, I'd have just enough to be able to an SSD from Apple. I don't know what else I'd buy. Perhaps I'd still have enough for a low-end Kia?

And no, I don't think I'd give my friends cash. At all. We're still friends, but what do I owe my friends other than my time? :confused: That's what they've given me, and that's all I'll ever want from them.

I didn't grow up in a very privileged household financially, and many of the school and afterschool programs and activities I participated in allowed me in on scholarship. I've always said that if I ever fall into more money than I know what to do with, I could give very generous checks to the programs and activities that gave me scholarships when I was little to let me participate so that other kids in similar socio-economic positions could have opportunities to partake as well.

That's really cool. It'll keep kids busy, and perhaps out of trouble. It's also a great way to make decent friends and develop some skills.

GimmeSlack12

Mar 8, 2009, 04:26 PM

haiggy

Mar 8, 2009, 04:36 PM

i suppose I can slightly understand the "hard to not be jealous" thing. But seriously, don't. Let it go and be happy for your friend. Just be the same dude you've always been with him and you guys will always be bros.

Aside from that, if it was ME that had $1M+ I'd be hesitant to do anything until I could exactly comprehend how much I had. As for kickdowns to friends I would likely stay away from doing that just because you'll likely stir up people from out of the woodworks asking for handouts.

I'd take care of all my family though.

Yeah, I know that's what I tell myself. It's hard not to be jealous but when I think about it I have no reason to be. My life is fine! I'm still the same person I was before he won the money, and still treat him accordingly.

I'd give a bit to friends, you do make a good point though about stirring things up with others. I'd for sure take care of my family as well.

marbles

Mar 8, 2009, 04:51 PM

Yeah, I know that's what I tell myself. It's hard not to be jealous but when I think about it I have no reason to be. My life is fine! I'm still the same person I was before he won the money, and still treat him accordingly.

I'd give a bit to friends, you do make a good point though about stirring things up with others. I'd for sure take care of my family as well.
I guess this is what it comes down to, you would "give a bit to friends".

Maybe he doesn't see things the same way you do, everyone's different, I guess he just moved on and got further/deeper into a circle of people who became friends and who partake in the same thing he is obviously 'born to do' and loves(I imagine). You apparently are not that into poker so....

It's hard when friends move on from you, I know... been there done that a few times...and probably will be there again sometime(hopefully not too soon) ... everyone moves on at sometime or another, sometime that moving on brings us back together, sometimes not. Sorry your feeling it, good luck.

trule

Mar 8, 2009, 05:01 PM

I never asked him what he was going to do with it. I never said anything about money to him except for "CONGRATULATIONS". Plus, I never needed to ask him what he was going to do with it... everybody else did. TV reporters, newspaper journalists, etc... that's how I found out he planned on buying a used car in the first place.

Yes, he's on his feet, being smart about it. I agree and I probably would be too, just not to the same degree. Which is why I'm asking to what DEGREE everybody else would go.

You're making assumptions.

Its a funny thing, people sometimes ask for things without realising it. Based on your obsession with him spending money in this thread...on you...I would guess he got the vibe. Who goes around calculating what percentage of 3Mill 10K is, I mean really, is that the expected friendship bribe these days?

You could just be upset at loosing a friend, but with all the drama and post editing I would guess there is more to it...the only thing better than money to ruin a friendship is a girl. I know about that one ...

Keebler

Mar 8, 2009, 05:04 PM

lol Nice comment, great stuff.

I'm sorry but I was just referring to the fact that he is a smart guy - he could change the world in some way. Instead he's just essentially taking money from other people, etc. I wouldn't say that poker makes the world a better place, would you?

Sure he has to be smart to win, and good on him but to just win lots of money, not finish school, never have a job... to me that is a waste of a person's intelligence that could be used somehow for some good.

Thanks for your opinion :rolleyes:

Sorry to hear that you're kind of in the same boat. Yeah he was my best friend for sure. Now communication is down to nothing. Sure friends move on, move, etc... but I lost the friend to gambling and what would be the worst part is he doesn't feel like he's missing out on anything.

wow. i've read this thread and you sound jealous. Maybe that's natural - i've never know anyone personally who have had such a successful career.

As for your comments that it's just poker and it's taking money from ppl.

it's entertainment.

i'm NOT a gambler...rarely gamble in a casino and I suck at card games, but look at the tv commercials, the websites and the tv tournaments - it's entertainment. Maybe it's not ending world hunger, but alot of things don't do that on a larger level so big deal.

people pay to get entertained and he's being successful at it. I think that's great.

As for suggesting that you would buy iphones for your friends and pay for their contracts, it sure sounds like you wish he would do that?

In the end, I think you have one thing to do (if you haven't done it already)...call him up and let he know you miss the old times. Maybe you can hook up the next time he's in the area. If not, then just let it go and maybe things will work out later.

People do move on unfortunately. There are greater tools such as email and facebook to keep in touch, but if people don't make the time, it won't matter.

kastenbrust

Mar 8, 2009, 05:37 PM

It doesn't matter how much money you have, it matters what you do with it.

miniConvert

Mar 8, 2009, 05:46 PM

OP sounds a little bitter ;)

Congratulations to your mathematically minded friend. It sounds like he found a perfect and highly lucrative channel for expressing his skills :)

FWIW, it's difficult being young and loaded. You do loose touch with people, even if you didn't mean to. Maybe you'll catch up with him again at some point in the future. Don't expect anything from him, though.

haiggy

Mar 8, 2009, 05:48 PM

I guess some people understand, others don't. That's expected I guess. This is the internet after all. I don't want him to buy me an iPhone and pay for the contract. It was an example... seeing as this is an Apple forum. What better example? I'm not even saying I need anything to be his friend or feel like I DESERVE anything. I'm saying... would you give anything to your friends?

What does post editing have to do with anything? A lot of times I submit my reply and then edit it right away instead of reading it over and submitting it.

garybUK

Mar 8, 2009, 06:17 PM

If i'd have won that damn euromillions jackpot at the weekend i'd have made sure all my family and closest friends were all sorted money wise but would try to not let it come inbetween friendships (as shown here) :(

I'd see how fast i could get the sack from my job and do something i always wanted to do (become an astronomer)

I probably could resist ordering a Aston Martin V12 Vantage in royal blue and a Morgan for the weekends :P

But i think the old Cliche is right, money changes/corrupts (you decide)

sushi

Mar 8, 2009, 06:36 PM

I'm not even saying I need anything to be his friend or feel like I DESERVE anything.
Your posts convey the exact opposite.

Anyhow, who cares how much your friend has made or will make? That should not be a factor in your friendship.

Friendship cannot be forced. It will only happen if both parties want it to happen. Your attitude may be pushing your friend away.

FWIW, through out your lifetime you change and your friends will change. It's only natural for individuals to gravitate towards other individuals that share their interests. So it's natural for your friend to develop new friends based upon what he does.

I'm saying... would you give anything to your friends?
Probably not. As the more you give the more you begin to wonder why your friend is hanging around you. Is it because they are your friend, or is it because you have money and give them things.

Lord Blackadder

Mar 8, 2009, 07:09 PM

More power to him!

If a million pounds was to magically fall into my lap tomorrow I'd buy a shack by the sea and grow a big, bushy beard to compliment it.

You could be Joaquin Phoenix's neighbor!

dukebound85

Mar 8, 2009, 07:12 PM

op, you need to deal with the fact that your friend in wealthy by playing a game and that he doesnt have to give you anything

this whole thread sounds as if you are looking down on how he obtained his money and then say he should get you things for being his friend:rolleyes:

notjustjay

Mar 8, 2009, 07:18 PM

what you would do if you won lots of money... would you change or would you stick close to your friends.... let them enjoy it too or bail on them just because you now have money?

Certainly a good question, and one that a lot of people think they would answer correctly, until it happens, and suddenly they find it a lot harder. It's true that money (and power) corrupts.

I would certainly not value my money over my friendships to the point of bailing on them. I think it's a common fantasy (and one played out in lottery commercials) that big-ticket winners would spite their boss and walk off the job that very minute. I wouldn't do that. I like my job! I also have no illusions of the money being enough to last "forever" so I would certainly not start a spending spree either.

I WOULD expect to suddenly have "friends" who want handouts, and I doubt they would be my friends very long once I saw their true motivations. But it would be that their attitudes changed, not vice versa.

Would I cut my friends a break now and again, offer to pay for dinner, stuff like that? Sure, I'd love to be able to be generous like that. Would I do it all the time? No, because I wouldn't want to call attention to my wealth. Should my friends start expecting me to do so, because I'm so rich? Absolutely not.

marbles

Mar 8, 2009, 07:26 PM

I know a guy who is quite financially sound, he's been told he dresses like a tramp and should have this car or that or a bigger house ...all that kind of thing. He dresses for occasion when need arise but mostly no concern for clothing etc ..but you know he said he can figure out people so much easier doing things without showing his wealth through his clothing or whatever.

temetrepo

Mar 8, 2009, 08:10 PM

Badandy

Mar 8, 2009, 10:51 PM

Anyways, long story but if you had ever won that much money what would you do with it? Would you give some of your close friends some cash? (Obviously not all of them) Keep in mind that $10k is only 0.33% of your money. Would you throw some parties? Obviously not spend or give it all away but ANYTHING? I personally believe I would but it's probably different when you're in that situation. I think it would be cool to buy my friends new cars or something.... maybe at least iPhones and pay for the contracts? Meanwhile he plans on buying like a used honda civic for himself... and

This basically says it all here. I know you think you said nothing directly, but I suspect he knows your thought processes from being friends with you for so long. If I had that amount of money, I'd definitely distance myself from ANY of my friends that engaged in the above thinking. Sorry.

63dot

Mar 8, 2009, 10:56 PM

Your 19 year old rich friend is young, and it will honestly take time for him to know what to do with that money. Any rash decisions can pretty much make his fortune come to an end.

Gambling (including high stakes investing), no matter how good or lucky you are, is a statistical loser if stuck to long enough. It's akin to taking more and more heroin until your heart stops. It can be an addiction for many, if not most. Unfortunately, I have seen it ruin lives.

PeterQC

Mar 8, 2009, 11:03 PM

If I would ever have that much money, I would gladly pay every school fees that my best friends would have. Then give a finger to the rest who could have been my friend if they wouldn't have just been ******* with me. :D

LeahM

Mar 9, 2009, 12:12 AM

If you think about it, with his age and his career 3mil isn't really that much. In Canada, when you retire its pretty good to have 1 million (at 65 years). Costs to travel and to buy into games can become very expensive and he's not guaranteed to win. Honestly, it sounds as if you are bitter that you haven't received anything from his winnings (otherwise why would you bring up a specific number like 10k).

But at my age now (23) if I won 3 million I wouldn't hand out money to my friends. I would fix up my mom's house, maybe buy some land, go to school and then save the rest so I could have a good amount to retire on. As I got older, I would see who has stuck by me without asking for handouts or asking how I would spend my money and know that they were my true friends.

On the other hand, it sounds like he's turned playing poker into his career so you can't really say he hasn't worked a day in his life. Good for him for being able to do what he loves for a living. Would you be saying anything if he was working a dead end job as an accountant?

Don't panic

Mar 9, 2009, 09:26 AM

i would do the exact same thing, except instead of a shack it would be a loft, and instead of the sea it would be in nyc. and instead of growing a big bushy beard, i would be in a nice spa getting a facial.

and how would you plan on paying the other half of the loft?

mineralissima

Mar 9, 2009, 12:21 PM

I am 25 and a future millionare

sushi

Mar 14, 2009, 03:55 AM

I am 25 and a future millionare
That's the spirit! :)

But don't be disappointed if you don't make it. There is so many other things that are important in life.

Mord

Mar 14, 2009, 04:15 AM

Anyways, long story but if you had ever won that much money what would you do with it? Would you give some of your close friends some cash? (Obviously not all of them) Keep in mind that $10k is only 0.33% of your money.

That mentality is probably why he doesn't talk to you anymore. I have wealthy friends and I don't accept their charity as I don't want to even slightly risk ****ing up our friendship.

Sesshi

Mar 14, 2009, 05:30 AM

Oh, and he's really good at math. Won tons of math contests, was very bright from a young age and was studying Actuarial Science at school. He left school after 2nd year to pursue poker and said he doesn't really plan on going back ever. Kind of a waste of a smart mind in my opinion.

Many people say that because someone doesn't enter a traditional career path. Fact is though, playing a game like poker as a pro is probably better real-life experience in the matter of doing business with people. Once he tires of it, he'll probably make a success out of something else. Just so that you can be jealous of him some more ;)

sushi

Mar 14, 2009, 09:31 AM

That mentality is probably why he doesn't talk to you anymore. I have wealthy friends and I don't accept their charity as I don't want to even slightly risk ****ing up our friendship.
Same here.

To be frank, I enjoy being around my wealthy friends because we have a reason to enjoy each other's company and share a mutual activity or hobby together.

vomitgod

May 8, 2009, 03:15 PM

What is his name? Somewhat uncool to have forgotten you.

Here in Austria we have a crazy kid like him, Niki Jedlicka, he won millions and today he is like 22... We are friends through Facebook, some of my friends know him from the casino... And what I see from his FB profile, seems like he is pretty much down to earth.... hanging together with "average" people of his age. I strongly assume lots of them gotta be his school friends... And Niki was winning like 4 millions a year or two ago...

Thumbs up for Niki, shame on your "friend"!

PS: Nothing is forever. People come together due to certain circumstances. And they go apart due to some other circumstances, that's life. But since you both were close firends, the least thing he could be doing is dropping by at your place, saying 'Hi' or at least give you a call fom time to time.

tman07

May 10, 2009, 08:02 PM

With that much money, i would:
1. Buy all the music that i have gotten in "other" ways
2. Give a (large)gift to my 5 closest friends, and they deserve it no doubt (my ipod touch got stolen, they got together and bought me a new one, and completely suprised me with it)
3. Payoff my parents house/make sure to take care of them
4. Get my finance professor (smartest man i know, by far) to invest it
5. Prob buy a nice used BMW and make it... BADDD, if you will

and yeah, thats all:)

chris200x9

May 10, 2009, 08:13 PM

am I the only one that would be a billionaire by the time i died if I got millions? :confused:

ikermalli

May 10, 2009, 09:59 PM

If it was me, yeah I would give money, but really there are some people who aren't real with you and you can tell that they just want the money. I think that is what he may be finding from you. Like I live a pretty good life, better than most and some people at school chill with me and if they need some money here and there, yeah it's cool but some people ask for stuff all the time and you know that they aren't real, that's when I will say no. I think you should talk to your friend sometimes, say you want to hang out, he'll probably say yes, go to your favorite hang out place. He might lend you some cash, pay for whatever, stuff like that. I really don't think he would think much of it if he was with you. For example, one of my friends' lives an alright life, but his mom is single, his cousin broke his iPod, so instead of him getting him a new iPod he got him some crappy MP4, so I lent him my iPod Nano, which he lent to someone else (for a few days) and that got stolen, so he told me and I was like that's fine, two days later he comes with an iPod Classic and hands it to me, he said the guy who had his iPod before it got stolen gave it to him as compensation, I just told him to keep it since I knew he wanted a classic. That is the kind of thing that might happen with you, I wouldn't get all excited or even think about him giving you 10 k, it is a lot of money, 10 k is a lot of money if you have 10 k or if you have 1 million dollars, it is still the same amount, some people are more generous than others though so you need to know what kind of person your friend is.