Excerpt from a recent study:PointsHubby wrote: ↑Oct 21st, 2018 2:48 pm
EDIT / ADD - Statistics show that most Lottery Winners burn thru their winnings in 5 years or less
By making a series of questionable / bad decisions
Be that investments, scams, addictions, or just spending crazily
And the nut bars come out of the woodwork wanting a piece of the action
No way i would want to go from where I am today to $ 1.6 Billion overnight
Even $ 60 Million would be over the top
$ 1 Million honestly sounds about right for most folks
Enough money to make a substantial difference in their lives
(Pay off a house, buy a car, nice vacations, help out their kids, plan for retirement etc)
Yup a $ 1 Million for 55 fellow Cdns sounds right by me for sure
Hope I am one of them
Here are some misconceptions about the fate of lottery winners that Cesarini's study appears to debunk.
People who win big lottery jackpots blow their money in a few years
Cesarini said that a common misconception is that the more a person wins in the lottery, the more likely he or she is to spend it all.
An often-cited — but incorrect — anecdote about lottery winners falsely attributed to the National Endowment for Financial Education claims that about 70% of people who suddenly receive a windfall of cash will lose it within a few years. In January 2018, the National Endowment for Financial Education set the record straight and said that statistic was not backed up by any of their research.
Mario's Lottery Groups Thread