It is. Statistically most lottery winners have managed to burn through their winnings after something like 2-3 years. It may take slightly longer if the payout is a half billion or so (because you just can’t possibly list any price or prize in the US after taxes, that would be preposterous for reasons).
It turns out there’s a high correlation between people who are bad with money and people who buy lottery tickets.
It would be awesome if the lottery winnings came with complementary financial advisement by a fiduciary for the first year. That way there’s at least a hope that money can improve their lives long term instead of just making for a crazy spending spree for a few years.
It’s just repackaged gambling. It’s designed to take money away from people who are already struggling. The organizers will never benefit from giving away finance advising and the average participant would never ask for advising.
That’s a lot of coke…
It is. Statistically most lottery winners have managed to burn through their winnings after something like 2-3 years. It may take slightly longer if the payout is a half billion or so (because you just can’t possibly list any price or prize in the US after taxes, that would be preposterous for reasons).
It turns out there’s a high correlation between people who are bad with money and people who buy lottery tickets.
It would be awesome if the lottery winnings came with complementary financial advisement by a fiduciary for the first year. That way there’s at least a hope that money can improve their lives long term instead of just making for a crazy spending spree for a few years.
It’s just repackaged gambling. It’s designed to take money away from people who are already struggling. The organizers will never benefit from giving away finance advising and the average participant would never ask for advising.
The organizers are the government, so surely they have a vested interest in helping their residents succeed in life…
😂