Winning the Lottery, Curse or a Blessing?

Facts About Winning Millions in the Lottery

We all dream of hitting the big one, or wish that we could fall into instant riches by simply choosing the right winning lottery numbers or allowing them to be randomly generated from a computerized lottery machine onto a little piece of paper, but it has often been said that we should be
 very careful about what we wish for as everything comes with a price, including winning the lottery, especially when it involves winning millions of dollars. The actual chances of becoming a multimillion dollar lottery winner are astronomical to begin with, but when fate intervenes, miraculous things can happen that will forever change a person’s life, for better or worse.

Even though huge winnings can change a person’s life style dramatically, it is said that if you were happy before winning a huge sum of money, then you will be happy afterwards, but if you were an extremely unhappy person to begin with, winning a multimillion dollar jackpot will change nothing except the size of your bank account. In other words the problems that you had are still lying in wait to rear their ugly head, and the lottery money only temporarily covers up the problems for a brief period. 

Experts have looked into the lives of past lottery winners and have learned that not all multimillion dollar winners have a happy ending. A common issue within our society is the belief that money solves most of our problems. Another big problem is the lack of financial guidance when being handed over a large amount of money. In fact nearly one third of multimillion dollar lottery winners become bankrupt in just a few short years after they’re big win. If you are not accustomed to having great wealth as many of these big lottery winners were not, then the problems that come with suddenly having a lot of money overnight can be so overwhelming that depression becomes inevitable.

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In my opinion, the wisest thing for one who wins the lottery to do is to keep their name annonymous and not tell absolutely anyone until they've paid off their debts, put a good percentage of their earnings into a tax-deferred retirement fund, keep their job, and then WAIT for at least 1 year before moving or making any major purchases or donations (property, boats, planes, etc.)

Posted on 05/29/2009 at 9:05:26 AM

I belive it all depends on the person.If the winner is carefull.And dont go out and spend the money like theres no end.And buy all this high price houses,cars,and other stuff .Then keep a budget on how much to spend each month.And stick to it.And watch out for new friends and relatives they never knew they had.And learn how to say NO,and mean it.Also me I would never promise anyone that I would give anyone money and stuff .Before I would win because then .They can come back and sue you for a promise you made before you ever won.You know who your true friends and relatives before you win.I have read were the lottery can change you .But I belive only if you want it too.Me ,I dont think I would want to win big.I think it would end up being one big headache.Specaly when you end up haveing relatives you never knew you had.And ones you know who didn't know you before.And now they know you.Because your rich.Its all called greed.

Posted on 05/28/2009 at 6:05:46 PM

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Posted on 04/01/2009 at 6:04:16 AM

I cannot agree more with your viewpoint. Maybe, the material progress of an individual is not dependent on luck, after all. Greeting, Wisepicker - http://www.wisepicker.com

Posted on 03/02/2009 at 9:03:37 PM

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Posted on 09/25/2008 at 3:09:58 AM

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Posted on 09/25/2008 at 3:09:47 AM

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Posted on 09/17/2008 at 5:09:08 PM

i would love to win the lotto. I would pay off college loans, graduate school for me and my girlfriend, and maybe buy a new car. I like to daydream about it, but no one should ever count on it. Its good to dream, and for everyone but a lucky few, thats all the lotto ever will be. Stay focused, become successful on your own and meet someone special, thats what happiness is, and happiness is priceless... of course being happy, successful, and with the person of your dreams on top of a couple extra million is always great too. lol

Posted on 07/31/2008 at 1:07:06 PM

The first person you should hire is a lawyer to set up a blind trust to accept the money, that way you can protect your identity. The people who play the most heavily in the lottery are those who can least afford to play at all. Many go broke after winning because they keep doing the things that made them broke before they won. Good article,,,well written.

Posted on 07/14/2008 at 9:07:31 AM

Studie show that a college education is worth over a million dollars in extra income over your working life, and it will leave you with enough knowledge to make solid financial plans on how to handle that extra million. Staying in school and studying hard is an almost guaranteed million dollar winner.

Posted on 07/13/2008 at 2:07:22 PM

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