Lottery winners are usually poor within 4 years!!!

United States
February 11, 2007 11:24am CST
I just read a couple of articles on research that has been done on lottery winners. Well, it turns out that people who win a very very large sum of money, lose their funds within 4 years and are back to where they started in this time. Apparently it's about the WAY THEY are with money that matters rather than how much they have.
3 people like this
2 responses
soul0629
@soul0629 (94)
• United States
11 Feb 07
Money is not the problem. The owner is! If they are not at the level to handle the big sum of money, they will eventually get back to where they are, the level where their capability matches their finacial level.
crispystuff
@crispystuff (404)
• United States
11 Feb 07
I like the saying "you can't solve money problems with money" -- I think this applies 99% of the time. The 1% is obviously people who need it to survive (which we as Americans don't--unless for some with health issues, but that's a whole other topic--healthcare).
elusivedarkness
@elusivedarkness (531)
• United States
11 Feb 07
That's so true. It's like the old saying says, "It's not what you make. It's what you spend." A lot of people win the lottery and think they have unlimited amounts of money and start buying all kinds of stuff that they don't need. No matter how many millions you win, you still have a limit. Their is only so much water in the lake, and when you pump it all out it will dry up. If you ever win the lottery, it would be wise to hire a financial advisor to help you manage your investments. No matter how much money you have, you should always live below your means. Security is better than all the sports cars and toys in the world.