Tragic Lottery Win-- More Tragedy Ahead?
I recently read the tragic story of a woman who won the lottery on ticket bought by her husband just hours before he died.
Tragic, yes. However, I think an additional tragedy may be on the horizon. The 78 year-old woman won $10 million as an annuity (or $6 million lump sum). In the article, she discusses a Corvette purchase, and worse, the local casino. My estimate is the lump sum (that's what I think she'll take) will gone in less than 2-3 years . . .
Windfalls like this need to be managed, otherwise this will be another of the countless stories of lottery winners who end up broke.
Yes, I admit it, I buy lottery tickets from time to time, but I only by one. Buying more than one does not improve you chances. This is a long-shot-- you actually have a better chance of being hit by lightening . . .
Here is another point of view on lottery tickets, from Clair Schwan, a frequent contributor to the site, http://www.frugal-living-freedom.com/powerball.html.