Millions of people around the world hope to win big. They play the lottery weekly and while the odds of winning the jackpot are low, some of them do win. Yet, many of the people regret it afterwards for one reason or another.
The difference between winning a lottery, and making it on your own, is simple. If you're earning your cash, it takes time, and you get used to your bigger bank balance usually from month to month, from year to year. It's easier the manage your earned money for two reasons. Firstly, you yourself don't get rich overnight and as such, have time to think and plan for it. Secondly, also your friends and relatives see you as someone working for your money, and are less likely to "ask for donations".
People who win the lottery overnight are often overwhelmed and their lives might be taking a turn to worse instead of better. I'm not saying that playing a us lottery with a huge jackpot is a bad thing, it's not. But in order to make it work for you, you do need a cool brain and cold enough heart. There are unfortunately many lottery winners who don't possess these qualities, and who by the end of the day lose more than they win. According to National Endowment for Financial Education around 70% of the big lottery winners (starting from 500k) lose the cash within just a few years and end up unhappier than they were before.
For example, Jack Whittaker, who won $315 million went broke only four years later, and also lost his daughter and granddaughter to drug overdose.
Sandra Hayes, winner of $224 million, who split it with a dozen of coworkers, said that dear people around her turned into vampires trying to suck every last cent out of her. She's now a retired social worker.
Donna Mikkin, winner of $34.5 million, said that the win ruined her life and now she's in emotional bankruptcy.
Evelyn Adams managed to win twice, in 1985 and 1986, total of $5.4 million, and decided to test her luck in Atlantic City. She managed to gamble it all away.
Janite Lee won $18 million in 1993. By 2001 she filed for bancruptcy due to gambling, lots of donations, and credit card debt.
A couple who won $2.76 million, was out of money just 6 years later, and ended their 14-year marriage.
William "Bud" Post won $16.2 million, but managed to get in $1 million in dept within just a year.
These are just some examples of people who weren't ready to win the lottery, and ended up worse off than they were before. So, winning a lottery can be a really good thing, but you really need to be ready for it. It's not for everyone.
The difference between winning a lottery, and making it on your own, is simple. If you're earning your cash, it takes time, and you get used to your bigger bank balance usually from month to month, from year to year. It's easier the manage your earned money for two reasons. Firstly, you yourself don't get rich overnight and as such, have time to think and plan for it. Secondly, also your friends and relatives see you as someone working for your money, and are less likely to "ask for donations".
People who win the lottery overnight are often overwhelmed and their lives might be taking a turn to worse instead of better. I'm not saying that playing a us lottery with a huge jackpot is a bad thing, it's not. But in order to make it work for you, you do need a cool brain and cold enough heart. There are unfortunately many lottery winners who don't possess these qualities, and who by the end of the day lose more than they win. According to National Endowment for Financial Education around 70% of the big lottery winners (starting from 500k) lose the cash within just a few years and end up unhappier than they were before.
For example, Jack Whittaker, who won $315 million went broke only four years later, and also lost his daughter and granddaughter to drug overdose.
Sandra Hayes, winner of $224 million, who split it with a dozen of coworkers, said that dear people around her turned into vampires trying to suck every last cent out of her. She's now a retired social worker.
Donna Mikkin, winner of $34.5 million, said that the win ruined her life and now she's in emotional bankruptcy.
Evelyn Adams managed to win twice, in 1985 and 1986, total of $5.4 million, and decided to test her luck in Atlantic City. She managed to gamble it all away.
Janite Lee won $18 million in 1993. By 2001 she filed for bancruptcy due to gambling, lots of donations, and credit card debt.
A couple who won $2.76 million, was out of money just 6 years later, and ended their 14-year marriage.
William "Bud" Post won $16.2 million, but managed to get in $1 million in dept within just a year.
These are just some examples of people who weren't ready to win the lottery, and ended up worse off than they were before. So, winning a lottery can be a really good thing, but you really need to be ready for it. It's not for everyone.
|
Some of our content may be related to gambling.    |