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- The myth of the doomed lottery winner, cursed to a life of misery after coming into a windfall of money, is well known. But not to worry! Should you hit that one-in-several-billion chance to win the big dollars, the myth isn't true and your life won't be ruined, at least according to several former lottery winners and other experts.
www.cbc.ca/radio/costofliving/2020-vision-for-the-canadian-dollar-and-some-good-news-how-winning-the-lottery-won-t-ruin-your-life-1.5421920/good-news-how-winning-the-lottery-won-t-ruin-your-life-1.5421946
- Personal Emotional Struggles. The overnight influx of wealth can lead to significant emotional and psychological challenges. Winners may struggle with feelings of guilt, paranoia, or anxiety about their new financial status.
- Risk of Exploitation. Managing large sums of money and making wise financial decisions can be overwhelming. Lottery winners often find themselves facing a sudden loss of privacy as their identities become public knowledge.
- Relationship Stress. Money can strain relationships with family, friends, and even romantic partners. Disagreements may arise over financial matters, leading to conflicts and strained connections.
Oct 4, 2022 · You never know when the odds will be in your favour, so it doesn’t hurt to be prepared and avoid making rash decisions. According to a financial expert, whether you won $5,000 or $80 million, here are the steps you should take after winning the lottery. You might also like:
- Isabelle Docto
Mar 3, 2024 · If you dream of striking it rich, playing the lottery may seem like your golden ticket to financial freedom. However, experts say that your odds of winning are exceedingly slim: Tor each ticket you buy, you have a one in roughly 302 million chance of winning the Mega Millions.
- Brooklyn, NY
- Freelance Writer
- What It Feels Like to Win A Multi-Million Dollar Jackpot
- Winning Comes with Major Drawbacks
- Debunking The Curse of The Lotto Win
- If I Had A Million Dollars … It's Not Enough
- Advice For Canada's Newest Multi-Millionaire
Randall Rush, of Lamont, Alta., won a $50-million Lotto Max jackpot back in 2015. "I woke up and it was a Saturday morning," Rush recalled. "I ran my cat out of food which is not a good thing [since] he's a 28-pound Maine Coon." "It was the very last ticket in the stack," said Rush, "it just lit up on the screen [saying] it appears you've won fifty...
While the $50 million jackpot allowed Rush to immediately retire from his job as a heavy equipment salesman, he felt it also made him a marked man in some respects. The same year Rush won the lottery he invested millions in a tech startup launched by the son of his then-best-friend. The relationship went south soon after and Randall ended up taking...
The idea that lottery winners wind-up emotionally broken and financial broke traces back to two sources. One study published in 1978talked to a small sample of 22 lottery winners about their everyday happiness. When compared to a group of traumatic accident survivors and a control group of everyday people, researchers found the lotto winners weren'...
If winning the lottery won't ruin your life, it's time to get out your calculator to determine how much money is enough to settle you for the rest of your life. According to Tim Cestnick, a Toronto-based financial planner and CEO of Our Family Office, one million dollars isn't enough. "It used to be that a million dollars … 20, 30, 40 years ago was...
"As tough as it may be, just get out of dodge right away," said Rush, who suggested heading to a resort. But the lottery winner also had some cautionary words. "Don't think your life won't change, because whether you like it or not your life has changed. You can't go back to your job. You see a lot of people say, 'well you know it's just business a...
Aug 26, 2017 · But perhaps most interestingly, research indicates that winning the lotto doesn't make people happier long-term. Contrary to popular myth, however, it doesn't seem to make people more likely to go on spending sprees that leave them broken and unhappy, either.
Apr 4, 2013 · For some lottery winners, winning the jackpot leads to utter misery. Bankruptcies, divorce, family troubles, and mental health issues including suicidal ideation sometimes come along with winning...
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Stereotypes and horror stories aside, how do lottery winners really behave? Research results may surprise you.
