Why Lottery Winners Go Bankrupt

[@lizardluminals9324]

This is exactly why all states should allow lottery winners to remain anonymous. No one needs to know who won the latest billion dollar jackpot and it’s not only gonna attract leeches but it’s also dangerous to the lottery winner and their family. Fortunately some states do this, my state included, but all of them need to allow winners to remain anonymous.

[@Crimsonsev]

If they were good with money, they wouldn't have played the lottery in the first place.

[@janetcrane8333]

First thing is to invest!!

[@tessapompino3132]

You have to be careful what you invest there's a lot of ponzi schemes out there

[@216-i6p]

Into a failing business 😂

[@averilquinn2969]

Don't tell anyone and pay for financial advice.

[@cyruslad5462]

In the UK there's been a few idiots but it's probably closer to 2 or 3%. When you win here it's tax free and you get free advice on managing it

[@tessapompino3132]

It's why it's good not to take the lump sum like The majority of winners do. At least with Annuity they can stretch it out

[@jarrrr69]

If I won in my I state I have to disclose, but depending on how much either way I’m taking time off of work, try not telling anyone even family, making new emails, wife gets rid of or deactivated all social media.

[@John-ow2mw]

fiscal predators is why.

[@wesleywashington1251]

Wonder how hard it is to get your old job back that you had before you won all the money.

[@siglandoe3913]

The lottery is a great retirement plan for those who have done nothing during their career lifetimes.

[@TartarianTopG]

Wow 🤓

[@princessoffire1107]

Well if that's the case, I'd be MORE than safe. I LITERALLY have no one in my life but my son and we've always been poor and squeezing a penny to make 5 is ingrained in us and we're too scared it will leave . I'm fatal and the house is paid off, so is car and all he'd want is a new computer. 😅

[@tessapompino3132]

I am very very careful about my money too

[@crow-vz5lx]

Honestly, if i ever won a lottery. We'd be set for life and beyond

[@bzb728]

Bc 1. Why buy a TX without knowing the value of money. 2.

[@Benchingcorndogs]

I won $800 million and invested all of it in my uncles new vending machine company