The TRUE Reasons Why Lottery Winners Go Broke

[C.B. Brown]

This is a excellent video with explanations
i have seen this 1st hand with many people.
had a friend a co worker who was irresponsable all his life
i gave him advice from personal experiance
of coarce he didnt take it.came into 400k 1 yr later was crying the blues was down to 200 k and it was still sitting in a checking account so by
canadian deposit rules if his instutu=ion went under he would lose 1/2 because he had it all in 1 catagory
the 70% rule seems to apply 70% of people live paycheck to paycheck

According to a 2009 Sports Illustrated article, 35% of National Football League (NFL) players are either bankrupt or are under financial stress within two years of retirement and an estimated 60% of National Basketball Association (NBA) players go bankrupt within five years after leaving their sport.
bottom lien is most people are not good with money spend beyond their means and dont know how to save money


https://www.youtube.com/watch?v=c-a7e5d1urA

 

[CydoniaNights]

This is common knowledge but thanks anyway I guess.

 

[rollingstone]

I did not watch the whole thing. To me all these reasons all trace back to a single root cause. Its that the winner's friends, the winner's family and the winner himself do not believe he/she earned the fortune.

 

[MattMiller]

According to a 2009 Sports Illustrated article, 35% of National Football League (NFL) players are either bankrupt or are under financial stress within two years of retirement and an estimated 60% of National Basketball Association (NBA) players go bankrupt within five years after leaving their sport.
bottom lien is most people are not good with money spend beyond their means and dont know how to save money


https://www.youtube.com/watch?v=c-a7e5d1urA

Take a look at this hilarious SNL (Saturday Night Life) sketch entitled "Where'd Your Money Go?":
https://www.youtube.com/watch?v=1d-EyX5r_lk

 

[Allan Quatermain]

Carelessness, plain and simple.

There was one woman in BC that won $8 million and went bust in 9 months. She gave a lot away as well as buying crap like a $400,000 Cadillac Escalade. Her favorite rapper put an order in for the car and in the end he could not take delivery because he did not have the money. She took responsibility for his contract just so she could meet him.