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February 28, 2006
Lottery winners' good luck can go bad fast
This is exactly the reason why people shouldn't let anyone know when they've won the lottery. States should allow it to happen in complete anonymity if the participant desires it, but states are greedy and want to make sure that they keep the human face on the winners in hopes attracting more players to the games. And what you end up with is people who don't have the infrastructure in place to deal with instant wealth getting overwhelmed by the masses trying to take advantage of them. If the states were smart they would help these people get all their money hidden away and secured first. Then "officially" give them their prizes after they've been properly advised on what the best choices are to make with the money. I mean most people can comprehend the notion that if they put it into an investment vehicle that they can draw a salary of 500k a year. That's not hard for them to grasp. You can live a good life with that kind of money, without even trying that hard, but instead they throw people to the wolves without the knowledge and experience to deal with it. Of course 250k a year is plenty if you don't have any other bills and would double your portfolio's actual value in 33 years with very little in the way of risk. Most people seem to forget that rich people built their money up over generations and have the connections to make massive amounts of money that normal people just don't get access too. Translation...if your car was fine yesterday, it's fine today. Pay your bills off and be careful with your money until the money loop starts working for you. And nobody is your friend when it comes to money, it's called the root of all evil for a reason! Budget everything and keep track of every dime.
Read more over at Yahoo News.
Posted by ManDrake at February 28, 2006 10:46 AM
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Comments
4 8 15 16 23 42 - good luck goes bad fast :)
Posted by: Tom M. at March 2, 2006 9:20 PM