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Son of a Son of a Gambler: Winners, Losers and What to Do When You Win the Lottery Paperback – January 14, 2008


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What If? by Randall Munroe
From the creator of the wildly popular webcomic xkcd, find hilarious and informative answers to important questions you probably never thought to ask. Learn more

Product Details

  • Paperback: 380 pages
  • Publisher: RRP International LLC (January 14, 2008)
  • Language: English
  • ISBN-10: 097936440X
  • ISBN-13: 978-0979364402
  • Product Dimensions: 0.8 x 8.9 x 5.9 inches
  • Shipping Weight: 1.2 pounds
  • Average Customer Review: 3.9 out of 5 stars  See all reviews (18 customer reviews)
  • Amazon Best Sellers Rank: #934,843 in Books (See Top 100 in Books)

More About the Author

Don McNay, CLU, ChFC, MSFS, CSSC
Best-Selling Author, Financial Consultant
www.donmcnay.com

Don McNay, an award-winning financial consultant and writer, is an expert in settlement planning and one of the world's leading authorities on how lottery winners handle their winnings.

His syndicated financial column appears regularly in The Huffington Post and in hundreds of publication worldwide. McNay also has appeared in several hundred television and radio programs, including CBS Morning News, CBS Evening News with Katie Couric, ABC News Radio, BBC News, KPCC- Los Angeles, WLW-AM-Cincinnati, Al Jazeera-English, CBC Television (Canada), TBS eFM (Korea), RAI (Italy), CTV (Canada) and Radio Live (New Zealand). ​

His insight has been sought by hundreds of print publications, including the New York Times, Los Angeles Times, New York Daily News, Tampa Bay Journal, National Enquirer, Reuters, Associated Press, USA Today and Forbes.

McNay has written seven best-selling books: Death By Lottery, Don McNay's Greatest Hits, Life Lessons from the Lottery, Son of a Son of a Gambler: Joe McNay 80th Birthday Edition, Wealth Without Wall Street, Son of a Son of a Gambler: Winners, Losers and What to Do When You Win the Lottery and The Unbridled World of Ernie Fletcher. Another book, Life Lessons from the Golf Course, co-written with PGA Professional Clay Hamrick, was a bestseller as well. He is also the CEO and Chairman of RRP International, a book publishing and digital media company based in Richmond, Ky. and Greater New Orleans. ​

Entering the financial services business in 1982, McNay was a pioneer in the field of structured settlements, helping injury victims and lottery winners handle large sums of money.

He founded McNay Settlement Group Inc., which is part of the McNay Group (www.mcnay.com). The organization is considered one of the world's leading experts concerning structured settlements, mass torts and qualified settlement funds. His company has been noted for its work with special-needs children, along with injury victims and lottery winners. ​

A graduate of Eastern Kentucky University, McNay was inducted into the Eastern Kentucky University Hall of Distinguished Alumni in 1998. McNay has a master's degree from Vanderbilt University and a second masters in Financial Services from the American College in Bryn Mawr, Pennsylvania. ​

McNay is a Lifetime and Quarter Century Member of the Million Dollar Round Table signifying that McNay met the organization's highly selective standards for service, production and ethical behavior in 25 different years. McNay has four professional designations in the financial services field. ​

Don received the Certified Structured Settlement Consultant (CSSC) designation from a program affiliated with Notre Dame University. He is a Chartered Life Underwriter (CLU), a Chartered Financial Consultant (ChFC) and earned the Masters of Financial Services (MSFS) designation. ​

Among his professional involvements are former Treasurer of the National Society of Newspaper Columnists and former Director of the National Structured Settlement Trade Association. He has spoken numerous times at structured settlement industry conventions. He sits on the Board of Directors for Society of Settlement Planners. ​

McNay has won several awards for his newspaper column, including "Best Columnist" from the Kentucky Press Association. Don is a former Director of the Eastern Kentucky University National Alumni Association. He was named Outstanding Young Lexingtonian in 1985 by the Lexington Jaycees. He is an honorary Kentucky Colonel and named as an honorary Duke of Hazard by the Mayor of Hazard, Kentucky. McNay is a University Fellow at Eastern Kentucky University and a University Fellow at the University of Kentucky. ​

A prolific author and lecturer, McNay has spoken to hundreds of legal and financial groups throughout the United States, Canada and Bermuda. He has published research articles for Trial, Round The Table (the official publication of the Million Dollar Round Table,) Claims Magazine, Best's Review, Trial Diplomacy Journal, National Underwriter and other financial industry publications.

Don is married to Karen Thomas McNay, who is President of the Ursuline Academy in New Orleans, the oldest Catholic school and oldest all girls school in the United States. He has two children, three grandchildren and three stepchildren and raised his nephew after his sister and mother died in 2006. He lives in both Lexington, Kentucky and New Orleans.

Customer Reviews

3.9 out of 5 stars
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Most Helpful Customer Reviews

40 of 43 people found the following review helpful By hankthecowdog on April 19, 2008
Format: Paperback
Since I bought this book because of five star recommendations I feel obligated to warn others who may not enjoy this book for the same reasons I didn't.

The writer takes a shotgun approach and barely skims the surface on any of the dozens of subjects he gets into, to such a degree that it is really quite amazing. I could go into alot more detail and give examples, but instead take the lack of that as a preview. I really liked the writer's tone, but I think this book is more a collection of newspaper columns, all chapters are short and about the same length. I was hoping for some focus and depth.

I kept thinking I was reading a children's book. The typesetting is big and each one or two sentence paragraph is double spaced. This 367 page book would be less than a hundred pages if it used normal type.

The writer considers anyone who would spend a buck on a lottery ticket a dummy and a rube and voices that ad nauseum. I get it, the chances of winning are minuscule, it's never going to happen. In my opinion pondering a windfall is entertainment and $1 is cheap admission.

I think in depth stories of hard luck lottery winners could be very interesting. And I think an in depth look at the best tax and investment strategy for a lottery winner would be interesting. This is not that book.

This book is alot of short little essays on alot of subjects, it is good for what it is. But not at all what I expected.
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9 of 9 people found the following review helpful By Gregory L. Dolce on June 8, 2012
Format: Paperback Verified Purchase
With so little out there to read, any book about lottery winners and related stories is a potential best seller. McNay, with a candid approach complete with humor and wit, portrays not only lottery winners but the entire business of the lottery in a way that all can follow. His stories about winners like Jack Whittaker, for example, highlight what can (and often does) happen to winners who let their hubris be their guide. Or the now broke celebrity (from his cameo spots on various lottery shows) David Lee Edwards and how he managed to fritter away $27,000,000 in less than 5 years.

McNay goes on to explain how the Big Win overwhelmed most folks, and how they failed to properly handle the money: from investing it to learning to handle those with their hands out wanting a piece of pie. McNay maintains the advice from years of advising not only lottery winners but those who have come into sudden wealth from other means, that the best thing to do is (for lottery winners) take yearly payments, and, of course remain anynomous. He avoids the more fawning, sensationalistic POV's of other 'winners' books. Reading it gives one a solid idea of how to handle a win.

As a regular blogger and columnist, McNay offers some pretty good financial advise, and is an advocate for populist economic measures. He takes the time to hold Wall Street to task for their lack of wisdom and makes valid points about how poorly served Americans are by governmental actions to bolster economics.

McNay, I feel, needs to do a follow-up book which tackles how the lotteries are run, from the poor payouts (less than 50%) to the requirement for nearly all winners to publicly announce their win.
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8 of 9 people found the following review helpful By Michael Behler on November 8, 2007
Format: Paperback
This book gives me second thoughts about pulling out another dollar for lotto. I'm glad I was the reader and not the subject. It allowed me to laugh and shake my head at the tragic results of folks who were overwhelmed by sudden "fortune", only to lose it all and more soon after. The book is an easy read, and McNay is willing to reveal his own personal stories of growing up in the gambling trade.
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2 of 2 people found the following review helpful By Rosie! on September 14, 2013
Format: Kindle Edition Verified Purchase
Don McNay has a way about him that makes you laugh (or cry, as appropriate), because he writes about real people and real things that have happened to them and how they handled those things (for good or for ill). This is not just a 'how-to' book (or a 'what to do' book), it is a book about human nature and how people react in certain circumstances. And it isn't just a book about getting some financial advice in certain situations, this book discusses many of the problems our society faces, like poor people being scammed by big banks (many of the same issues Elizabeth Warren and her mother covered in their book, but McNay describes these people from first-hand experience). And, like Elizabeth Warren, he has solutions - a few are tongue-in-cheek, but most are serious and should be taken seriously. In short, I found this book both entertaining and enlightening. So, for a fun read, where you can actually learn something at the same time, you should buy this book. I'm glad I did and will be buying more of Don McNay's books in the future.
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2 of 2 people found the following review helpful By Swim Coach Jim on August 16, 2013
Format: Kindle Edition Verified Purchase
As a childhood friend of Don, you never questioned his ability to wear his heart and passion on his sleeve. His fortune is not valued in dollars. His value to our society is the real life that blessed his childhood from savory and eloquent characters who colorfully painted his life. Don and I may be on different sides of the political aisle but he is my favorite type of opponent who makes an argument with passion and fact and not an emotional party line bullet point. If Don wrote a daily play by play of an event viewed by most as boring, you know he would justify why this event could be important but more-likely the most entertaining event you may experience in your lifetime with lyrics and subconscious melody. Jim Lutz
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