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by lesuorac 174 days ago
Eh, touch some grass buddy. You're interpretting a lot of negativity from the poster despite having no evidence to support it.

> [1] A famous study in 2010 from the Review of Economics and Statistics revealed that, out of 35,000 lottery winners who obtained between $50,000 and $150,000 in winnings, 1,900 of them had filed for bankruptcy within 5 years.

> A 2015 paper in The American Economic Review also presented that 15% of NFL players filed for bankruptcy after 12 years of retirement.

It's really common for people with sudden windfalls to lose it all.

[1]: https://en.wikipedia.org/wiki/Sudden_wealth_syndrome#Effects...

3 comments

I’m not sure a study of chronic gamblers generalizes to long-term working class employees of this facility. I have no idea what lessons can be learned from the NFL case, but I suspect none at all.
> It's really common for people with sudden windfalls to lose it all.

5% of people isn't "really common". Estimate of 1% of US adults declare bankruptcy within a 5 year period (based on ending in July 2025 and right now is a very low period). 2010 a peak it was likely closer to 3% of adults.

It is rightfully calling it a false trope of "Only rich people deserve money. We should prevent others from getting it".

I speculate the correlation to lottery activity and poor financial habits is the principal factor