The Darkside Of Winning The Lottery

July 24, 2010

Tens of thousands of millionaires have been created all around the world from the age old playing of lotteries. We often read about the multimillionaire lotto jackpot winners and secretly ponder how their lives will be altered and whether or not we will at some point be so fortunate as to become a member of the exclusive club. For many people though, winning the pot of gold isn’t always as good as people think it will be and in fact can result in more problems than solutions.

It is certainly a dream situation to be in, don’t you think? Not anymore are you going to have to think about getting up and enduring the lengthy commute, getting through the 9 to 5 and having to face all of the annoying bills that arrive relentlessly on a month-to-month basis. When you are a major lottery winner, you are able to just settle-back and take it easy and enjoy the fruits of your winnings, right? The past tells us, however, that this is not always the case as there have been a number of very well-publicized examples of the negative things that have gone the way of major lotto winners.

You might have asked the lotto operator to keep your jackpot win a secret but concealing the fact that you are now a millionaire is usually a lot more tricky than it may seem. If you have been lucky enough to win a substantial amount of lottery money you truly have to think and plan the coming years of your life with great care. If you don’t want the publicity, then you will probably not be able to spend the cash inconspicuously. The real reason for such privacy in the first place is to be certain that people don’t know that you have the money, so that you don�t become the target of a large number of unsolicited requests for help of some kind.

If you win big then you could always allocate a large slice of the money for charitable causes anonymously, because this might well make you feel as if you have done something genuinely worthwhile with your good fortune. If your jackpot is on the smaller end of the scale, then you could always make a long-term financial plan, invest smartly in the short-term and allocate your pleasure sensibly.

Many highly publicized lottery winners have fallen on hard times, burned through their cash, declared bankruptcy or have even been pushed to committing suicide. If you’re not used to dealing with huge amounts of cash knowing what to do can be very bewildering or even terrifying. Those who are used to living a frugal life may be challenged when they change over to the big time, focusing on the trappings and associated requirements and quickly find themselves out of their depth. It is prudent to get specialist counselling and financial planning if you are a lotto winner as this will better prepare you for the changes that will without doubt come about in your life.

Remember that you don’t need many tens of millions of dollars to be satisfied for the rest of your life and you can certainly be well catered for with a much smaller amount provided that you use it carefully. Even with such new found wealth it is still extremely important to plan your monthly budget smartly as this should help to maintain some perspective in your life.

If you were a happy, sensible and well disciplined individual prior to your lottery win, you will probably find that you can adjust to your new life reasonably well.  However, but if you were generally unhappy before, then the odds are not good that being one of those lottery winners will turn your life around in the long run.

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