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by kraussvonespy
1519 days ago
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One can draw a very similar arc for lottery winners too. Most of them are broke and vagrant after ~2 years of luxury. There's no planning for tomorrow. The people most drawn to lotteries (and perhaps those drawn to the limelight too) are those that have the worst life and money skills. I think we all know people who live the feast or famine lifestyle of cruises and new TVs when the tax refund comes followed by 11 months of scraping by and complaining about their money situation. |
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From what I see, is that 70% spend their money after 5 years, but don't just become 'homeless' / destitute. This seems some kind of overblown myth.
The other study I found:
"Statistically, 1% of lottery winners in the Florida study went bankrupt annually (Source: https://www.creditdonkey.com/lottery-winner-statistics.html)"