No Money, No Problems: How Winning the Lottery Could Ruin Your Life

Did you hear? This past July, a citizen from Illinois won the Mega Millions Jackpot that was worth $1.337 billion ($780.5 million cash).  

Andrew (Jack) Whittaker Jr. 

Andrew (Jack) Whittaker Jr. won the $314.9 million Powerball Jackpot in 2002, the largest lottery jackpot in the United States at that time. After taxes, he collected a lump sum of $113 million. Jack was already a millionaire with $17 million. But that didn’t stop him from wildly spending his money.  

Michael Carroll

Michael Carroll was a UK National Lottery winner that won £9.7 million lottery prize in 2002. The Daily Mail reported that he had spent his money on drugs, gambling, and thousands of prostitutes.  

Evelyn Basehore

What happens when you win the lottery twice? Evelyn Basehore attests that you can still lose all your money. In 1985, she won the $3.9 million Pick Six Jackpot. Less than six months later, she won $1.4 million (coincidentally, another Pick Six Jackpot).

Three Things TO DO When You Win The Lottery

- “Work with a certified life planner." - "Get a team of experts to assist you in managing risks, taxes, investments, financial plans, and legal plans." - "Get a team of experts to assist you in managing risks, taxes, investments, financial plans, and legal plans."

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