Beware, Winning the World’s Largest Lottery Jackpot Could Ruin Your Life
The world's largest jackpot-ever is about to be won sometime soon, and sadly, history shows us that not everybody can handle the money.
Monday night's Powerball jackpot is almost up to $2 billion and have you given any thought as to how you would handle such a life-altering event if you actually beat the odds and won? Think about it, you would go from your normal life, to being in a position where you could buy almost whatever you want, whenever you want it.
Experts have warned people that if they win a lottery jackpot like this, it's best to take the 30 year payment program versus the one-time payout, which is now around $1 billion after taxes. The reason, according to the financial pros, is that you'll be less likely to blow it all with some crazy investment or reward when you're scheduled to get a new mega payment every year for the next 30 years.
I'm sure you're saying, like me, that you could handle such a "difficult" problem. However, people's lives being ruined after winning the lottery is a real thing.
Business Insider recently cited 20 cases where people hit the big jackpot and within about a year, watched their lives spiral out of control.
There's Lara and Roger Griffiths who won $2.76-million. Before the money, they “never fought,” according to the publication. After the windfall, “a freak fire gutted their (underinsured) house” and to make matters worse, Lara confronted Roger over emails with another woman and their marriage ultimately ended.
Another win that went bad was Bud Post who won $16.2 million. Within in a year of winning, he was reportedly “$1 million in debt,” a former girlfriend successfully sued him for a third of his winnings, and his brother put out a hit on him…hoping he would inherit the money.
Evelyn Adams won $5.4 million and was said to have “gambled it all away” in Atlantic City, and Gerald Muswagon won $1 million and allegedly blew it all on a party pad, gifts for friends, and a failed logging business. He eventually took a gig doing heavy lifting, and later committed suicide.
The fact is, there are also many stories where people live happy lives after winning a lottery jackpot, however, winners should move cautiously as the "curse of the lottery jackpot" really can exist.