That is so true it is not funny, especially those who come across money easily. I’m 53, I knew 2 people personally in my life who won the lottery jackpot - I’m talking about the JACKPOT, millions of dollars - and both of them were flat broke within 5 years, FIVE freakin years! And that is not a fluke, it happens all the time to people. They win millions of dollars and they go spend crazy as if they won unlimited money. That’s why people should always avoid taking a lump sum and allow the state to pay in installments unless they are very very experienced in handling money. People who have never had a lot of money before go absolutely freakin crazy when they do.
You are so correct.
Young Freepers, please listen to my cautionary tale:
I grew up poor with six brothers and sisters. We didn’t have much. In my late 20s, I accumulated some money and lost my mind. I had never had money, and getting it was not the hardest part, KEEPING IT IS!
I spent recklessly, accumulated debt, but by far the worst thing that I did was develop a compulsive gambling habit. I gambled only on sports, and would bet up to 5k a game depending on what was going on.
Long story short, after bankruptcy and a nearly destroyed relationship with someone very close, I am just now getting my life back on track.
Everyone says: If I won the lottery, I’d never blow it. But those are the people standing behind you in line to buy the ticket with their six pack and cigs. Also, as for the insinuation that blowing money only applies to black athletes, not true. I am a white male with a law degree and post-grad level academics.
Beware. Getting the money is easy, keeping it is hard.
I knew a white trash couple that took the 20 year payout on a big lottery.
They were getting like 3 million a year from it, and blew it as fast as it came in on toys, lavish vacations and booze.
They’d been kicked out of more 5 Star accommodations than one could count. Their kids all accumulated felony records, and not a single one in the family had a drivers license anymore, so they all took cabs everywhere.
Moved into nice neighborhoods and trashed the houses, left broken boats and other motorized toys lying dead around the yard.
Neither lived to see the final payouts, as they both drank themselves to death by liver failure.