Marathon Bombing Victims Bemoan $1.2M Payouts
Because they won't cover their lifetime health care
By Kevin Spak, Newser User
Posted Sep 16, 2013 12:52 PM CDT
In this April 15, 2013 file photo, medical workers aid injured people after two bombs exploded near the finish line of the Boston Marathon.   (AP Photo/Charles Krupa, File)

(Newser) – Paul and JP Norden have shiny new $1.2 million checks, courtesy of the One Fund after they lost their legs in the Boston Marathon bombing, but they're not exactly thrilled about it. The checks are sitting uncashed as the brothers worry about how to spend the money, the Washington Post reports. The cash payouts will kick them off Massachusetts' health care program for the poor, and experts point out that the lifetime cost of maintaining a prosthetic limb could easily exceed even their seven-figure awards.

"People will say stuff: 'Oh, you guys got $1.2 million," JP Norden says. "Did we? Because I know I've got to buy a leg for the rest of my life. I can't go out and buy a house." While the Norden family stresses that they're grateful for the public's generosity, they believe One Fund chief Kenneth Feinberg's disbursement plan was rushed and ill-conceived. The Fund says it has a second disbursement coming, and this time it'll consult each victim on their needs. "There’s no amount of money in the world that’s going to compensate people for losing a limb," the fund's treasurer says. "We never proposed that it would." For more on the Nordens' struggle, check the source.

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Showing 3 of 76 comments
HMD-SMD-ITY
Sep 17, 2013 8:05 PM CDT
Ever heard of financial planning? Municipal bonds, mutual funds, CD's, Treasury bonds, energy futures, pork bellies, etc. That much money is a trigger amount to make you a whole lot more money.
noazrk
Sep 17, 2013 1:15 AM CDT
You didn't get enough free donations from the general public? Your argument doesn't have a leg to stand on! wah wah wah Seriously though, if you put that money into a good, diverse investment portfolio you could probably live off the interest no? $1.2 million with JUST a 10% annual return on investment nets you $120,000 a year which is WAY more than I make a year. If just 3 out 10 years you get a 20% ROI that's a $240k a year. Of course, realistically you'll need at least $250,000-$300,000 liquid but you SHOULD be able to invest AT LEAST $700,000 I would think and then just be frugal for the 1st year or two to let the interest payments come in.
TheJman
Sep 16, 2013 9:18 PM CDT
No worries...according to the liberals Obama care is going to save us all!