(CNN) Publishers Clearing House’s bankruptcy means ‘forever’ winners will no longer get paid

[reinaert]

From the OP article:

Someone has to pee in the punch, so I guess today, it's <--------this guy:

IIARTR, he had ten years of 260k a year, and no portfolio, earning assets, or backup plan?

 

[ttwtt78640]

Mobile homes may be affordable in some situations, and an option where you have land available but don't want to build a home. But they have safety and maintenance issues, and are a terrible long term investment. Unlike a house on a foundation, their value is more like a boat or RV. It goes down in value over time, losing much of the value in the first few years. Which makes sense - why buy a used 10 year old one and pay to have it moved, when you can get a new one set up by the manufacturer.

The quality of manufactured (mobile) homes built after 2006 have significantly improved. Some are now built as well as most ‘stick built’ homes. When placed on a concrete strip footer foundation, properly anchored to the ground and with structural skirting added, they remain reasonably safe with minimal maintenance.

Their depreciation can be seen as a plus, since that helps keep property taxes lower. Buying a 10-year-old mobile home can leave plenty of money available for reconditioning and/or improving it, especially if one has the skills to do some of that on a DIY basis.

At the same time, the 'city' prices in some locations are staggering and unsustainable. I think we're starting to see some major shifts as well, especially as telecommuting becomes more common in the post-covid world.

 

[reinaert]

None of y'all must live in New England.

 

[bomberfox]

Always had weird vibes. Where does the money come from? Are these people really winning when the website was cooked to be on par with pop up ads "spin the wheel" and micro transaction bait? Always felt like the site was pushing a lot of those submissions into the shredder back when I shot my shot. So many people probably lost so much time on there just hitting F5 and thinking that wheel actually was coded fairly, every day, hopeless.

It is rather sad to see them go, but if I had won and got 5K a week for life some years ago, or effectively a quart mil a year, I would have invested it and bought enough by now that I wouldn't be a little greedy piece of shit to complain the gravy train isn't built on magic and fantasy but brass tacks business. I would have felt lucky enough at all to get a $100 coupon at the time, let alone passive income that set me up for the least stressful years of my life. Some times, you just have to let things go.

I think the only complaint was there was no notice that the gravy train has stopped which is rather shitty to do.

 

[bomberfox]

Oh, didn't even read into it. Figured as such though. "Having to sell his jet ski" oh boo oh no. The consequences of not planning for contingency plans. ****, some people seem like more money would hurt them then help. He didn't even have his house paid off! Ugh, no tears at all. Glad I put the effort in to pull the money I do. Maybe a lump sum would make me more careless but never "oh no, without this magic money, I'm homeless"

I would have definitely paid off my home with that first and still work because idleness is depressing.

 

[Chomsky]

Best thing for them to do is fine a shabby mobile home on a country lot. Utlities and pad should already be there. Might cost $4,000 - $6,000 or thereabouts to have someone junk the old mobile home. I use to invest in land. Mostly timberland. Historically this always was where I saw the best deals for someone wanting to move out to the country.

I believe you indeed did invest in land, as that's a great idea! Thanks. I think I'll mention this to them, next time we talk.

BTW - Investing in land sounds like a tough long-haul business, as you incur carrying costs but - usually - no income. Plus you pay the opportunity cost of losing your purchase capital.

I suppose on the plus side, taxes on undeveloped unincorporated rural land are probable next to nothing.

 

[dcsports]

The quality of manufactured (mobile) homes built after 2006 have significantly improved. Some are now built as well as most ‘stick built’ homes. When placed on a concrete strip footer foundation, properly anchored to the ground and with structural skirting added, they remain reasonably safe with minimal maintenance.

Their depreciation can be seen as a plus, since that helps keep property taxes lower. Buying a 10-year-old mobile home can leave plenty of money available for reconditioning and/or improving it, especially if one has the skills to do some of that on a DIY basis.

Some are. And certainly, if you get an older one that's been maintained, they can have a lot of hidden value. I know of at least two people that NEVER would have been able to afford a vacation home, but were able to pick up a mobile home to put on a vacation lot that kept the rain out and made for a really neat hideaway. And depending on the situation, it can be a viable option.

The challenge for many is that their home is their biggest investment, and you 'lose out' on that opportunity with a mobile home. I think that's why you don't see it more.

 

[Ƶ∅𝒹i͎αꞓ]

I think the only complaint was there was no notice that the gravy train has stopped which is rather shitty to do.

Very much agree, sort of can see why, not like it's better. Having that information out before legal documents are agreed on and signed seems bad information to be spreading too early.

It's a shity thing to do, and even shitter dying business behavior to salvage what's necessary til the last second before they sell what's left and walk away with a loan for the difference.

"nothing personal kid" level energy. Means they didn't care enough to save some aside for maybe 3-6 months, or anything but a middle finger sorry, to ease the process after the dust is settling on the era.

I sympathize the rug pull but not much if they can't land on their own feet if given it for years.

 

[ttwtt78640]

Some are. And certainly, if you get an older one that's been maintained, they can have a lot of hidden value. I know of at least two people that NEVER would have been able to afford a vacation home, but were able to pick up a mobile home to put on a vacation lot that kept the rain out and made for a really neat hideaway. And depending on the situation, it can be a viable option.

The challenge for many is that their home is their biggest investment, and you 'lose out' on that opportunity with a mobile home. I think that's why you don't see it more.

Many can’t afford that “biggest investment” and the alternative (to buying and living in a mobile home) is continuing to enrich some landlord.

 

[Chomsky]

Mobile homes may be affordable in some situations, and an option where you have land available but don't want to build a home. But they have safety and maintenance issues, and are a terrible long term investment. Unlike a house on a foundation, their value is more like a boat or RV. It goes down in value over time, losing much of the value in the first few years. Which makes sense - why buy a used 10 year old one and pay to have it moved, when you can get a new one set up by the manufacturer.

Fair point. I didn't think about the 'depreciating asset' aspect. Thanks for pointing that out.

As a former boat owner, moored in a marina with "in & out" "lift" service (not cheap!), I can very much respect the depreciating asset aspect!

I fell into boat partnership by accident, when some since-childhood buddies of mine that owned a lounge, ran into financial difficulties in keeping their boat afloat! <-- see what I did there?

It seemed a golden opportunity: For the relatively modest cost of bailing my buddies out of what I thought would be a one-time jam, I became an equity partner in a "large-enough-to-throw-a-party" boat I could otherwise never afford! What young single man could refuse that opportunity?

And throw parties, we did! Big time!

But I soon found out any service or product involved in boating seemed to cost 3X the cost it would be in any other consumer market! I was young, didn't know, and got caught up in the social aspects (read: 'partying') of it. Even the price of fuel - regular old gasoline for the V8 engine - was not just way overpriced at the local marinas, but my boat sucked it like it was cheap wine on skid row!

I was literally blown-away by how poor the "mileage" in a big-block V8 powered boat could be. It was beyond imagination. Shocking, really. But who could resist getting her on plane, right?

It wasn't long before I realized why so many boat owners are always hanging around the marina partying, rather than being out on the water. Because it was cheaper and more fun than upkeeping & fueling your boat!

It was also why the other owners in the marina were often older balding men twice our age, not the twenty-somethings we were. The finances required were typically acquired later in age. As my buddies found out, and I soon did - too.

But this I will say: Marone! What a great life! It was a floating party! Some of the best times of my life.

At the same time, the 'city' prices in some locations are staggering and unsustainable. I think we're starting to see some major shifts as well, especially as telecommuting becomes more common in the post-covid world.

Ain't that the truth?

But for whatever reason, even the "downtown Post-Covid office glut" crash I expected - never occurred. My city's downtown office buildings are being turned into condos and student housing, and they're selling like hotcakes. Amazing. It's like the 80's & 90's loft craze, all over again.

I suppose as usual - life goes on . . .

 

[Chomsky]

Someone has to pee in the punch, so I guess today, it's <--------this guy:

IIARTR, he had ten years of 260k a year, and no portfolio, earning assets, or backup plan?

It's a fair criticism.

There should have been a financial plan in place, if anything to leave an estate for one's heirs.

Though I do see how early in, someone with no family or other obligations, might spend more heavily in acquiring the things they believe they want and need (house, vehicles, boat, vacation home, etc.), figuring they'll catch-up in the later years now that their upfront acquisition expenses are past.

 

[Chomsky]

Some are. And certainly, if you get an older one that's been maintained, they can have a lot of hidden value. I know of at least two people that NEVER would have been able to afford a vacation home, but were able to pick up a mobile home to put on a vacation lot that kept the rain out and made for a really neat hideaway. And depending on the situation, it can be a viable option.

The challenge for many is that their home is their biggest investment, and you 'lose out' on that opportunity with a mobile home.

I think that's why you don't see it more.

There might be other reasons why you see more mobile homes down south than up north, and it's nothing to do with economics or maligning stereotypes.

It may be . . .

"Frigid Cold & Tornados"

. . . neither of which are particularly good for mobile homes.

Though I suspect modern heating & insulation in these type of structures may have improved over the years.

Where I live, residential structures are most often brick. The winters are harsh, and wind storms & hail are prevalent. Given I'm in a large metro area, brick is quieter - too. This last, can't be underappreciated in urban environments.

 

[Metric Mouse]

Many do indeed live on those income levels, if they're retired or near-retired and their property is paid-off, they're on Medicare or other subsidized healthcare, and their kids are long-gone.

But that's a far cry from a young family with a new mortgage, kids, and paying for health insurance.

I'm a young family, with kids, a new mortgage, needing health insurance...

We live on like 1,500 a week. And do so very well.

5k a week is extraordinary; they could easily save 2k a week, and fund a full retirement in like two years, and the rest would be given to charity.

 

[ttwtt78640]

I'm a young family, with kids, a new mortgage, needing health insurance...

We live on like 1,500 a week. And do so very well.

5k a week is extraordinary; they could easily save 2k a week, and fund a full retirement in like two years, and the rest would be given to charity.

$1.5K/week is $78K/year. Saving $2K/week for 2 years is $208K (plus any interest, dividend or share price appreciation).

 

[dcsports]

There might be other reasons why you see more mobile homes down south than up north, and it's nothing to do with economics or maligning stereotypes.

It may be . . .

"Frigid Cold & Tornados"

. . . neither of which are particularly good for mobile homes.

Though I suspect modern heating & insulation in these type of structures may have improved over the years.

Where I live, residential structures are most often brick. The winters are harsh, and wind storms & hail are prevalent. Given I'm in a large metro area, brick is quieter - too. This last, can't be underappreciated in urban environments.

Oh temperatures are a big issue. All the plumbing (and usually ductwork) is underneath. While you can put a 'skirt' around them, you really can't easily protect this from continuous freezing temperatures, not to mention snow loads on the roof.

 

[ttwtt78640]

Oh temperatures are a big issue. All the plumbing (and usually ductwork) is underneath. While you can put a 'skirt' around them, you really can't easily protect this from continuous freezing temperatures, not to mention snow loads on the roof.

That’s not an issue where we live, but there are manufactured (mobile) homes designed for cold climates and snow loads. Ours (new in 2020) is well insulated, structurally skirted, has double glazed windows and has duct work above the ceiling.

https://homenation.com/blog/best-prefab-homes-for-cold-climates

Manufactured, Modular and Mobile Homes by Skyline

View floor plans and photos of quality manufactured, modular and mobile homes and park model RVs by Skyline Homes and find a Skyline Homes dealer near you.

www.skylinehomes.com

 

[Chomsky]

I'm a young family, with kids, a new mortgage, needing health insurance...

We live on like 1,500 a week. And do so very well.

5k a week is extraordinary; they could easily save 2k a week, and fund a full retirement in like two years, and the rest would be given to charity.

Firstly, the 5K is pre-tax; net is substantially less. I assume your 1,500 is pre-tax, as well? And, you're not providing your own health insurance?

I'm not saying it can't be done at 1,500 a week gross, in some cases. But I don't think it's common across America.

For lack of a better method, I use national averages as a point of discussion. According to Google A.I., the average monthly mortgage is 2300-2700. The average family self-provided health insurance monthly premium, again according to google A.I., is 1200-1500 .

So given the above, there's 3,350 a month gone off the top. Average food costs of 1000-1600 bumps that to 4,650. You're 1,500 a week pre-tax is now gone, if these were your numbers. And there's plenty of expenses left.

So you must be living a lower cost of living than most of your fellow Americans, or at least that of the average American.

As to putting away 2K a week to "fund a full retirement in 2 years", I don't see how. Not on 208K.

Perhaps if that 208K was invested into instruments that substantially beat inflation, after many years you might get there. But that can't be counted upon.

I'm not saying your numbers don't work. They obviously work for you. But 75K a year is not going to provide all the above you claim, when it comes to the average American in terms of mortgage, health insurance, and everything else young families need.

 

[Chomsky]

$1.5K/week is $78K/year. Saving $2K/week for 2 years is $208K (plus any interest, dividend or share price appreciation).

I'm wondering if his 1,500 a week is net, which is a big difference than the gross income we're discussing here. Then is his health insurance provided by his employer, perhaps? "Retiring" implies no employer health benefits.

Mortgages & self-provided health insurance (& copays) are the two biggest costs of young families. If we go by the national averages, as I posted in a post above, we're looking at 3,350 a month right there to start.

Everyone's situation is different. But I don't know how to do these general discussions, without referencing national data. And like it or not, mortgages and health insurance are huge expenses right-out-of-the-gate for most.

 

[Chomsky]

Oh temperatures are a big issue. All the plumbing (and usually ductwork) is underneath. While you can put a 'skirt' around them, you really can't easily protect this from continuous freezing temperatures, not to mention snow loads on the roof.

Ah!

Living in a cold climate, where it's common to leave faucets "drip" during cold snaps, I should have thought of that!

 

[Chomsky]

That’s not an issue where we live, but there are manufactured (mobile) homes designed for cold climates and snow loads. Ours (new in 2020) is well insulated, structurally skirted, has double glazed windows and has duct work above the ceiling.

https://homenation.com/blog/best-prefab-homes-for-cold-climates

Manufactured, Modular and Mobile Homes by Skyline

View floor plans and photos of quality manufactured, modular and mobile homes and park model RVs by Skyline Homes and find a Skyline Homes dealer near you.

www.skylinehomes.com

View attachment 67590152

See, that's what I meant when I said,

"I suspect heating and insulation have gotten better over the years"

Why did I say that? Because if we can build an economy car that's comfortable to drive in 10 below, I suspect we surely can build a manufactured house that's likewise!

If the market will sustain it, that is?

 

[dobieg]

As crazy as the sounds, it's true - I say that too!

The average home price in the U.S. is $520K. The average 401K balance of a person in their 50's, depending upon the source, is 300-600K. Combined, there's around $1M in net worth right there.

Not everyone has prepared for retirement as well as above. But many have. If you live in a middle class suburb of a major city, chances are a substantial number of your neighbors approaching retirement age, particular two career couples, are indeed millionaires.

Median net worth is more accurate as average is heavily skewed by the ultra wealthy. Median net worth of those 55 - 64 is $364,500.

Average and median net worth by age | Fidelity

Learn what net worth means, average net worth by age, median net worth by age, and ways to grow your net worth over time.

www.fidelity.com

 

[dobieg]

I believe you indeed did invest in land, as that's a great idea! Thanks. I think I'll mention this to them, next time we talk.

BTW - Investing in land sounds like a tough long-haul business, as you incur carrying costs but - usually - no income. Plus you pay the opportunity cost of losing your purchase capital.

I suppose on the plus side, taxes on undeveloped unincorporated rural land are probable next to nothing.

I'm not very good at many things but I know a good piece of ground as soon as I see it.

Of my 23 real estate purchases over the years the only time I didn't make money was a place I panic sold down off the Chespeake Bay at the beginning of the pandemic. Didn't read the market right and lost my tail. I thought I was so smart getting out with a 20% haircut before the housing market collapsed. Well as we all know, it did the opposite.

We typically hold places between 6 months to 3 years. Just unloaded another place earlier this month we bought in June. Again down on the Chesapeake. It was a good month.

 

[dobieg]

Some are. And certainly, if you get an older one that's been maintained, they can have a lot of hidden value. I know of at least two people that NEVER would have been able to afford a vacation home, but were able to pick up a mobile home to put on a vacation lot that kept the rain out and made for a really neat hideaway. And depending on the situation, it can be a viable option.

The challenge for many is that their home is their biggest investment, and you 'lose out' on that opportunity with a mobile home. I think that's why you don't see it more.

Typically that's correct but I look at things differently. The land is what I'm after and in the right setting it doesn't matter if it has a nice house, cabin or mobile home. You can change the structure. You can't change the setting.

A few years ago I almost bought a 26 acre parcel in rural, dead Pa for just over seven figures. It had a double wide on it. Didn't care. One of the nicest settings I've ever come across and the land would have always appreciated regardless of what sat on it. One of the many that 'got away'.

 

[dobieg]

Interesting summary on US median net worth.

AI Overview

Wealth in America is concentrated, with significant disparities across different brackets, but specific figures vary by the source and date of data. For instance, as of early 2025, achieving a net worth of approximately $970,900 placed you in the top 10%, while a net worth of around $1.17 million put you in the top 5%. The median net worth for U.S. households was about $192,900 in 2025, with the average being much higher due to the concentration of wealth among the richest individuals.

Examples of Wealth by Brackets (Early 2025 Data)

• Top 1%: Required a net worth of roughly $11.6 million to be in this group.
  
  
• Top 2%: Required a net worth of around $2.7 million.
  
  
• Top 5%: Needed about $1.17 million in net worth to be considered in this bracket.
  
  
• Top 10%: A net worth of approximately $970,900 was sufficient to be in the top 10%.
  

Other Wealth Benchmarks

• Median Net Worth:
  Half of U.S. households had less than $192,900 in net worth, and half had more, according to the latest Federal Reserve data.
  
  
• Average Net Worth:
  This figure was significantly higher at $1,063,700, because it is skewed by the immense wealth held by the richest Americans.
  
  
• Middle Class:
  While not a specific net worth bracket, middle-income households had a net worth of $204,100 in 2021, compared to lower-income households' $24,500.
  

Key Takeaways

• Uneven Distribution:
  Wealth is not evenly distributed; a small percentage of the population holds a large portion of the total wealth.
  
  
• Data Variation:
  Figures can differ depending on the year, the data source (e.g., Federal Reserve, Pew Research Center), and the specific metrics used (e.g., net worth vs. income).
  
  
• Net Worth:
  These figures are based on net worth, which is the total value of assets (like savings and investments) minus liabilities (like debt).

 

[Metric Mouse]

$1.5K/week is $78K/year. Saving $2K/week for 2 years is $208K (plus any interest, dividend or share price appreciation).

That's math, baby!