I've always said money can bring out the worst in people and test those who have never had any. As you know by now, the Powerball lottery is at $550 million dollars after there hasn't been a winner in the past few drawings. All this is causing people to shell out lots of money hoping to hit the jackpot. Although the concept of winning that much money is exciting, the reality of that happening is slim to none.
But with every desire comes a consequence. It's easy to get caught up in the thrill of winning lots of cash, but just because you have it today doesn't mean it will all be there tomorrow. Take for example some former lottery winners who have lost everything because of greed and many other negative factors.
Wouldn't life be better if money or time didn't plague us? After all the concept of these things were created by humans and at one point none of them existed or mattered. My point is, we only make things seem as great as we think they are–hence this jackpot.
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Reportedly, more people who win the lottery tend to lose the money and sometimes their lives quicker than they gain it. For this reason, nonprofit group the National Endowment for Financial Education recommends that when you come into a large sum of money, you should prepare psychologically and create a financial strategy.
Many instances have shown that about 70 percent of people lose the money they win within a brief number of years if they don't manage it right. This is because many have a false sense of belief that it will last them forever.
One of the former winners who lost everything includes Jack Whittaker, a West Virginia man who blames his winnings on his granddaughter's drug overdose death, his divorce, many lawsuits, and lack of friends. That's so sad!
One of Powerball Jackpot's 2006 winners, Sandra Hayes learned that money isn't everything after she quit her job and spent it all. She still lives under a fixed income and warns everyone: "If you are not disciplined, you will go broke."
But financial experts offer good advice for the next person who lands the jackpot (and sorry, everyone, it will probably be ME!): Most importantly, creating a budget is key, followed by smart investments, but along with that will be the possibility of losing friends (or family), anxiety, guilt, and distrust. I'll try to keep all this in mind when my winning numbers come up tonight!
If you choose to partake in the lottery craze, enjoy the adrenaline rush, but be smart about it. Having sold lottery tickets as one of my first jobs, I've met people who have gone bankrupt because of it! We forget that being greedy can cause us to take the things that matter for granted leaving us lonelier in the end. Remember the game is just for fun; don't gamble your life away with it!
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