Why Do Most Lottery Winners Lose Their Money?
Flick through the television channels, and you’ll likely see news anchors greeting lottery winners on their talk shows. Millions of people compete for the chance to win the lottery, and a few end up winning life-altering sums of money annually. You might have envied the winners once or twice in your life, wishing that it was you in their shoes. However, wait a few years, and the situation will be significantly different. You might have often heard stories about lottery winners going broke, having splurged all of their money in a short span. Believe it or not, these stories are more common than you would think. Most people think it’s impossible to blow away millions of dollars. However, that’s the situation most lottery winners face. According to CNBC , lottery winners are likelier to go bankrupt within three to five years compared to the average American. Learning such a figure might leave you scratching your head due to its improbability. However, the reality’s that it’s true. Accordi...