Back in 2005 a fascinating social experiment was initiated by the movie director Wayne Powers. He had the idea to give a homeless person $100,000 and capture their every move afterwards in a documentary.
The name of the chosen homeless person was Ted Rodrigue. He was a “regular” homeless person living under a bridge in California. Ted’s day-to-day activities for survival included collecting cans and bottles that he used for recycling. On a good day he would collect enough cans estimated at $35. The money he earned Ted spent on food, cigarettes and beer.
One day Ted’s life changed when he discovered a dusty suitcase with stuffed $100,000 inside. There was a note with a message inside that read : “What would a homeless person do if he were given $100,000?”.
Upon realizing that he was now a rich man, Ted immediately got accustomed to his new lifestyle. He rented a room in a motel and started socializing and drinking heavily in bars. Ted befriended a lady with suspicious intentions towards him and started buying her gifts and clothes. He even bought a $35,000 Dodge Ram to drive around in. His average weekly expenditure was estimated at $10,000 a week. When advised to see a financial planner Ted believed he was after his money and ripped his card. To make the situation even worse, Ted refused to listen to his sister’s advice and find a steady job.
In conclusion, Ted had no concern about the future and lived only in the moment. He wasted the entire fortune in just six months. Ted is currently living as a homeless person under the same bridge where he was found by the documentary producers.