Loren Krytzer who sold blanket for $1.5 million has new woes
Loren Krytzer who sold blanket for $1.5 million has new woes

Loren Krytzer, a California man down on his luck got a change of fortune after a blanket he inherited from his grandmother sold for nearly $1.5 million at an auction.

Loren Krytzer was involved in a car accident in 2007, after which he was forced to have his foot amputated and could no longer continue working as a carpenter.

After having used most of his newfound fortune buying two homes in Central California, a Dodge Challenger SRT8 customized by West Coast Customs (the team made famous in MTV’s Pimp My Ride), and a Harley-Davidson motorcycle — things he never dreamt of owning before. Krytzer says, he is losing about $10,000 a year in insurance and property taxes alone.

With no income stream now that his disability checks were cut off, Krytzer says that to continue living off his windfall he’ll have to relocate to somewhere where the costs of living are lower.

“We’re getting taxed to death here. I can’t afford it,” he says. “I’m from California, I grew up here, but without working, it’s just hard to survive.”

20 COMMENTS

  1. This guy is an idiot spending all of his money on these things & then saying I don’t have any money he doesn’t deserve any money.

  2. So he lost a foot in an accident, if he can ride a motorcycle, he can work. He’s just been living off the working people by soaking us for disability till it got cut off. Get a job and quit complaining! So many of us who work for a living and pay our taxes so you can sit on your a$$ would be so much smarter with a windfall like you were blessed with.

  3. How irresponsible is this guy? He could invested that $1.5 million and lived comfortably. I guess choosing to live in California answers the first question.

  4. “he is losing about $10,000 a year in insurance and property taxes alone.”

    That is penny ante. I’m sure he meant something much higher, or the article omitted a zero, etc.

    • I’m terrified by whatever world you live in where that’s low. I know it doesn’t sound like a lot, but that’s pretty much my household income for a year.

  5. Well, there’s your Liberal politicians and open-door immigration policy in action. The United States should probably just sell California to a foreign country in an attempt to get out of debt. Frankly, they are primarily the reason why we are in massive debt. California is a cancer to this country. The San Andreas fault can’t do its job soon enough.

  6. Fools and their money are always soon parted. He was given a blessing and could have lived off that blessing for many, many years… instead the gentleman got greedy. Can’t have sympathy for that sort of nonsense….

  7. he should make money on his houses when he sells..
    unless hes an absolute idiot..
    ive made 100s of 1000s on houses from crazy cally

  8. He should have sell one of his houses that he bought to afford the taxes. It is very nice that he was able to sell the blanket for 1.5 million, however he should not have went on a spending spree without first evaluating his needs.

  9. As a financial planner, my first advice, BEFORE the sale was final would have been to leave California. My colleagues and I have dozens of clients who have moved here to Tennessee solely because the onerous taxation (and other high costs of living) impacted their retirement so horrendously that they if they wanted to maintain their desired quality of life they had to relocate to where they would be treated more equitably.

    My second advice (now that the sale is final), will be for him to lick his wounds and move. Texas, Tennessee, and Florida are some of the States one can enjoy a much lower cost of living.

    In 1992, I took a FULL 50% pay cut when I chose to relocate to Tennessee from Maryland. However, miraculously, I somehow realized a 25% pay RAISE in my expendable income because I no longer had to pay ANY State income tax, my rent was 50% less than what I had to pay in Baltimore, and my auto insurance was 70% less than what I had to pay in Baltimore. I was able to use that extra 25% to build my own business (which, despite my best efforts, I was completely unable to do in Maryland).

    Although taxation DEFINITELY impacts one’s income, the costs of living do as well. Mr. Krytzer needs to consider both. So he needs to especially avoid places like the Northeast (D.C. to Boston), Illinois, and the West Coast.

  10. B-o-o h-o-o. I hope this story wasn’t meant to seek sympathy, because it’s more of a “thank God I’m not as dumb as this guy” story.

  11. PS, Dave…I’m a Liberal and I don’t feel sorry for this guy. Your San Andreas fault comment, however, is stupid and irrational, and the reference to illegal immigration is irrelevant to this particular topic. Save it for your Breitbart Twitter feed.

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