Lottery
 
Question:
Avatar

Why do so many lottery winners complain that having all that money has ruined their lives?

By Daydreamer Asked Jun 1 2005 6:31AM
8
Pts
 
 
Rate Question
Answer Question Help someone!
Get the latest questions in Lottery
flag

Welcome to Answerbag, a community of people sharing what they know.
Sign up now to ask a question or help someone else by giving an answer!

signup now
Sort answers by: Rating | DateArrow Down
 

Top Answer out of 10

by PondLady on Jun 6, 2005 at 8:16 am Permalink

Avatar
This answer was last edited on: Jun 15, 2005
We have had several local winners of various amounts of money and they all seem to have had a rough time ever since. Everyone they know seems to think they owe them something. When they go to dinner with friends they are always expected to pick up the bill, no matter how big or small. People who didn't even know them would find out they were winners and said they should buy a round of drinks for everyone.

One winner split his winnings with his fiancé - she took it and left him.

A local teacher that won was forced out of his job. He loves to teach and would have done it for free, but his coworkers made him feel guilty by saying he was taking a paying job from someone who needed it. When he offered to replace the school track, the board refused the offer unless he would pay for ALL of the tracks to be replaced.

Each of the winners had to get an unlisted number and change it several times due to solicitors and charity seekers. Many of them have to move away so their neighbors don't know about their fortune and pester them.

I've seen even small inheritances tear families apart. My brother, sister, and I stand to possibly inherit something from my father's mother and I fear that my divorced mother will feel cheated.

Money really does not buy happiness. They usually quit their jobs and lose their sense of purpose in life. People who suddenly get a large sum of money don't know how to manage it. They may try to live the "high life" of fancy clothes, cars, and homes, the best restaurants and expensive drinks. They are likely to gain weight and drink too much. Many of them go on outrageous spending sprees and sometimes end up in worse debt than ever.

It would be nice if the lottery was broken down into many more, much smaller winners. Maybe enough to get them out of debt to reduce life's stress. Think of how many people could be helped rather than one large winner whose life will likely be destroyed. Instead of picking winning numbers, it should be a random drawing - two winners for every million dollars in prize money. The odds of winning would be much higher and the winnings would be spread around more evenly boosting the local economies. Mega winners are likely to move away and take the money with them.

To Relsqui - quote: "Great idea, but not profitable. Lotteries don't exist for the sake of their winners, after all."

Why wouldn't it be profitable? The government would still take their share off the top and give the rest away like they do now, except it would be a random drawing of however-many names rather than matching a set of numbers. When the pot is up to 40 million, draw 80 winners of $500,000 each. I think more people would buy tickets because of the better odds... including me.
15
Pts
 
 
Rate Answer
 
flag
Comments show all comments Show More
Avatar Scottythinks Oct, 18 2005 at 03:32 PM
This is a great answer!
Avatar Jodie44 Feb, 13 2006 at 12:09 AM
I like the idea. Spread the bucks around and improve many lives. Sweet. Right on.
Avatar tjatherton Mar, 02 2007 at 10:15 AM
I agree with you until you stated your idea to spread the money.. NO !! Its their money and how they spend it is their life.. it was a gamble, how they spend it is their responsibility.

Answer 2 out of 10

by Anonymous on May 6, 2006 at 4:38 pm Permalink

Avatar
Its an unexpected shock in ones life. a fabulous shock, but still a shock. your mind, your body is entering a realm of unreality, that few people on earth experience. unknown people come out of the woodwork to borrow money. every excuse is offered. greed. family members, you thought were dead, are now alive and well and love you more than life. its mostly psychological. winning the lottery, suddenly allows you not to have to live from paycheck to paycheck. can you trust a cpa with your winnings? will you invest? blow it on frills? the beggers, the borrowers are relentless. i said it before and it deserves to be said again......GREED. it will drive one crazy. but, what a way to go!
8
Pts
 
 
Rate Answer
 
flag
Comments (be the first to comment)

Answer 3 out of 10

by KinKStar on Jun 6, 2005 at 1:02 pm Permalink

Avatar
I have heard that if all the wealth was given to the poor, in 10 years their situation would be back how it started. The rich get richer because they know how - whatever that means!

Anyone that "plays" the lottery is doing just that - playing with their money! It's not meant to be an investment plan! Anyone that "wins" the lottery most probably never learned how to manage their money to begin with, so imagine suddenly having more than enough . . .

Statistics show that winners of the lottery don't have much or any of their money a few years later. Some to bad spending, guilty pleasures, honorable sharing . . . You know, we should all be so "lucky" . . .
8
Pts
 
 
Rate Answer
 
flag
Comments (be the first to comment)

Answer 4 out of 10

by ENG A.K.A. Keithold Jr. on Aug 12, 2005 at 12:33 am Permalink

Avatar
The Lord blessed them with such a great reward, but they choose to misuse it. They probably forget to pay tithes and donate to Christian charities. Thus, the ruin it causes is due to God withdrawing his blessing on them, due to their misuse and abuse of it.

If I won 1, 5, or 10 mil, I'd donate 10% to the Church, first of all. Next, I'd donate a great, significant amount to "The Navigators" ( http://home.navigators.org/us/ ) in order to finance more missionaries to spread the Gospel in Japan. I'd also take a trip to Japan, Korea, and China, all the while passing out Gospel tracts to anyone I meet. Then I'd go to Japan and help spread the Gospel by also doing it myself.

However you spend your winnings, that's your prerogative, but please remember to thank God for his great blessing, and use it in a way that God would want you to, and he may keep your life full of happiness, thrills, love, and abundance. God is the source of happiness, not money. Remember that.
5
Pts
 
 
Rate Answer
 
flag
Comments
Avatar Grandma Roses - my avatar is my real dog Oct, 13 2005 at 09:18 AM
doesn't answer the question except nominally in the first sentence
Avatar Scottythinks Oct, 18 2005 at 03:35 PM
This is a good answer! It is the LOVE of money that is the root of all evil; of course this causes problems. Give it away!

Answer 5 out of 10

by sepulvjl on Oct 21, 2009 at 10:16 pm Permalink

Avatar
i have read many stories that alot of lottery winners end up worse than before they won a jackpot. there was a case in ny, a single man won 60 million. he had a bad habit with money before, his wife divorced him and took half of the jackpot with her. i guess she knew of his bad habit and decided to split before he blows everything away. case #2, a couple from i cant remmber where won about 16 million, they purchased a house and all that good stuff. 10 yrs later the house is in fore closure, family separated and couple divorced. case #3, some women from some state won about 5 million, today the money is all gone and she lives in a trailer living on social security. case #4, some women from some other state wins about 20 million, she like to donate to her church she attends, 5 yrs later she files for bankruptcy with only 700.00 dollars in 2 different accounts. case #5, some guy from some state wins 1 million, decides to start a small car businnes, it does not last very long, within a yr hes broke and files for bankruptcy. as u can see many peoples lives get ruined because they dont know how to manage themselves and go crazy without thinking whats gonna happen in the future. many of these people get repeated requests from family and freinds begging for money. according with the 20 things that people would do if they ever won a huge jackpot was buying a house to be at the top of the list when investing would be almost at the very end. people have never had a huge ammount of money so thats why they go crazy and blow it away. at the minimum a jackpot might give u a nice jolt for 5yrs and then its down hill. easy come easy go!
0
Pts
 
 
Rate Answer
 
flag
Comments (be the first to comment)

Answer 6 out of 10

by BigDaddyBS on Feb 27, 2008 at 6:21 pm Permalink

Avatar
"Friends", neighbors, strangers, family, distant relatives (close and distant, including some they never knew existed), scam artists, real estate agents, insurance agents, car salesmen, fake charities, real charities, etc. ALL call day and night. I'm sure they also get calls from real telemarketers despite being on any DO NOT CALL list.

Most are just PLAYING the lottery, hoping to win to ease their financial problems, then when they do, instead of paying stuff off, they buy all new stuff. So, when the money's gone, they STILL own money, and usually MORE than they did before.

For safety, they need to move to gated, secured housing, which costs bucks, too.

The ones we DON'T hear about usually were intelligent enough to get a financial advisor, and they're doing what they want and need, probably on investments and interest.
0
Pts
 
 
Rate Answer
 
flag
Comments (be the first to comment)

Answer 7 out of 10

by Galeanda on Feb 27, 2008 at 6:06 pm Permalink

Avatar
Because having money, especially getting easy money, does not make you happy and comes with it's own travails that people aren't ready or capable of handling. They have no experience with money and don't know how to use it, preserve it or even spend it well. And when they do, it doesn't change who they re inside and they re still the same people.
0
Pts
 
 
Rate Answer
 
flag
Comments (be the first to comment)

Answer 8 out of 10

by ILuvAnimals on Feb 27, 2008 at 6:01 pm Permalink

Avatar
Most people have not been educated on how to manage money and do not have the contacts or resources to help them. When they get this money vultures come out of the woodwork and they get overwhelmed.

I think the problem really lies in lack of financial education for everyone. There would be a lot less debt if financial education was mandatory in schools. Some governments are run on getting people to spend their money to keep the economy going, so it is counter-intuitive to educate them on saving and managing money.
0
Pts
 
 
Rate Answer
 
flag
Comments (be the first to comment)

Answer 9 out of 10

by ajeylex on Mar 2, 2007 at 10:07 am Permalink

Avatar
the blessing of the Lord leads to happiness. money is not the blessing but part of it. so when one wins the lottery and ends up sad, its simply because they were seeking happiness in money. try to think of money as a tool to invest in lives. its more rewarding than investing in consumables.
0
Pts
 
 
Rate Answer
 
flag
Comments (be the first to comment)

Answer 10 out of 10

by game masta on Dec 28, 2005 at 12:09 pm Permalink

Avatar
This answer was last edited on: Mar 31, 2006
It's true that the more you have the less happier you are and that is because you can't buy happiness with money you can only improve your life with money but it won't make you happier.
-1
Pts
 
 
Rate Answer
 
flag
Comments (be the first to comment)


Add an Answer

Why do so many lottery winners complain that having all that money has ruined their lives?

How to write a good answer
Your answer:

Display answer in fixed-width font (good for tables or text diagrams)

Answers must adhere to our Terms of Use

To create links, just type the address with no HTML code. Use the Preview button at the bottom to verify.

You can edit your answer at any time.

Add Video Add Iimage


Important: Answerbag cannot guarantee the accuracy of answers submitted by members, and we recommend that you use common sense when following any advice found here. Read full disclaimer.