The lottery seems like the American dream. A way to live your dreams without the work that would normally be required to get there. Who could blame you for thinking that way? Living the luxurious life without having to be a genius or have a Kobe like work ethic seems like the best thing ever.
Recently a lottery ticket was sold for over one-billion dollars. An amount of money that seems incomparable to most of us working minimum wage jobs. While the winner of the ticket is undoubtedly very excited, there is a reason to believe that they should be disappointed in their winning.
Despite the happiness that millions of dollars should bring, it also comes with agony, pain, and for most winners it always ends in bankruptcy and death. In fact, most lottery winners will regret ever winning the lottery. We all know that most lottery winners have financial problems, but the rewards of the lottery can end up being much more evil and sinister.
The financial problems of lottery winners are already well known. People who don’t know anything about money, who then receive a lot of money, typically go broke. For most people, the lottery makes them lose more money than they gain.
In fact, the New York Times claims that over 70% of people who win the lottery go broke within five years. Most money is lost through divorce, fancy cars, and luxury goods. The rate at which lottery winners spend is very similar to pro athletes after getting their first contract.
Lottery winners are also know for losing money by buying houses with no knowledge of how real-estate work. When buying huge houses, your knowledge matters much more than when buying smaller houses. A lot of lottery winners buy houses in cash with no bargaining, which is one of the best ways to go broke.
People who win the lottery are also known for not realizing how much the gifts that they give to their friends add up over time. A big reason and stereotype that rich people are greedy comes from the realization that gifts are one of the fastest ways to lose money. Rich people are typically much smarter with how they give away their money.
Once you buy someone a gift, they will keep coming back for more and more. If you’re a good person, chances are you will keep giving them more and more. No matter how big your lottery is, you won’t have enough money to make all of your friends happy. The best thing to do would be hire a financial advisor and understand how much gifts can hurt you in your long run.
One study that tested to see what lottery winners spent their money on, found that over 1.8 billion dollars had been spent as gifts. Once you take out taxes, it left the winners with fractions of what they had started with.
If you manage to not go broke the second you win the lottery, then your problems will probably get much darker. Divorce can be a dark reality for many winners. Although the rate of divorce doesn’t advance significantly after the lottery, after you winnings run dry the rate skyrockets.
If you have ever done anything illegal then you are in big trouble. Now that you have money, people can use that to their advantage to make their own money. Also, many lottery winner talk about how they revert back to their old drug usage habits. Many say that the easy access to loads of money and partying can make drugs too easy.
Some often cause drug habits upon their family. In one instance, a lavish lifestyle from a lottery funded the winner’s granddaughter’s overdose and death. In the end, that winner of a three-hundred million dollar lottery sad he wishes that he would’ve tore that ticket up.
The sad thing is, he is not alone in that statement. Many other lottery tickets have lost much more than their house or even other’s human life. Many other lottery tickets have ended up dying themselves.
Money does strange things to people. People envy money with a passion and it leads them to do anything to get what they want. Abraham Shakespeare was the winner of a thirty million dollar lottery. He thought the lottery would change his life for the better, but the lottery put him in his grave.
Shakespeare immediately found money problems, like most who win the lottery do. His struggles lead to a woman named DeeDee More tricking him into letting her control the rest of her fortune. She then killed him and stole the rest of his fortune.
She was sentenced to life in jail without parole, but it can never change the fact that Shakespeare is underground. He had recently gone through a depression from everyone trying to get money from him, and it lead to the murder taking a while to solve. Everyone had just assumed Shakespeare had gone into hiding.
Since most lottery winners go broke, I don’t understand why anyone would want to win the lottery. All the lottery will bring is darkness and pain. The money will not solve your problem and will most of the time just amplify the problems.
The Only Lottery You Should Play
While playing the lottery is a terrible idea anyway, there is a lottery I would suggest you trying. There is an app called Yotta, which is an online bank account that provides interest through the form of a lottery. A prize exists for ten million, and if you would like to win that prize you need to save. The more you save, the more money you get. However, if you use code GETYOURGREENZ you can significantly increase your odds of winning.
I have written many articles talking about the pros and cons of Yotta, so I will link all of those here.
Is Yotta Savings Safe For Teenagers To Be Using?