From Hero to Zero – Lottery Winners

The chances of winning the lottery in online casinos are high and that’s why those who do win are truly “lucky”. It doesn’t matter what kind of system you run because at the end of the day the numbers are purely random and there aren’t many “investments” into a system where for $1 or £1 you can wager your chance at winning the big lottery jackpot. Obviously, over 99% of us will never win, that’s the reality but those who do are made instantly.

What’s perhaps even more amazing is how many of these lottery winners become, or will become, broke within a very short time. Why does this happen? How could someone who obviously needed money (or they wouldn’t waste their time on playing the lottery) go broke in such a short time? The answer lies in the fact that if they didn’t come from money then there’s a good chance they never had enough to learn the fundamentals of frugality, savings, and investment.

A recent report revealed that 4 out of 5 lottery winners either go broke within five years or have spent so much of their winnings they need to begin work again. Well, it was fun whilst it lasted, right? It’s not too difficult to understand really because if you have always earned a modest, liveable income, living from one cheque to the next and then all of a sudden having millions then you’ve probably never learned the skill of money management. We live in a society that installs in us that happiness involves having material possessions.

Money is power they say. So, these lucky individuals go spending like the rich and famous making one bad financial decision after another and before you know it even they don’t know what went wrong.The moral of the story is, if you ever came into a large sum of money, what would you do? If the answer is spend it on lots of stuff instead of making the money work for you through solid investments then perhaps the majority of us really don’t deserve much more than we already have. What do you think?