Quote:
Originally Posted by Acting Like Godot  Don't forget Mike Tyson. Elton John. Michael Jackson. Etc. |
if you spend $10.00 foolishly what's to keep you from spending 10 million likewise?
I have always said that if any private company aggresively marketed lotteries the way state governments do they'd be thrown in jail - and lets not forget the absurd fine print on those 100 million jackpots - paid out over x years- blah blah -considering that a great number and in some states the majority - of ticket buyers are on public assistance it's outright criminal
Nearly one-third of lottery winners become bankrupt.
“The CFP Board made an offer to the National Association of State and
Provincial Lotteries to provide the organization's members with
information to distribute to winners. The Investment News article
highlighted the lack of financial guidance many winners receive from
state lottery agencies; estimates show that nearly one-third of
lottery winners become bankrupt.”
Source: Certified Financial Planner Board of Standards, Inc
http://www.cfp-board.org/bulletin.html