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Home Tips and Tricks

Why winning the lottery is bad?

by Miles Austine
in Tips and Tricks
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Once in a while, almost everyone has caught themselves daydreaming about winning the lottery big. You’ve probably heard all of these: “If I won a lottery, I would buy a huge house/never work again/live on an island…” Let’s assume that your dreams come true. You became a lucky winner thanks to sites like LottoAsian. Life instantly becomes better, right? Here are some data that might turn your thinking upside down.

People would try and take advantage of you

The thing is, we mostly think of a happy day of the victory, not further. But people who gradually make their fortunes learn how to deal with the economic aspect of money and the psychological one along the way. You don’t have this luxury when you win the lottery. And now literally everyone knows that you have become a wealthy person. You can experience weird feelings about your friends, family, and even bare acquittances trying to borrow some money or simply use you. Most people who won lotteries experience the same thing: they had to rethink their social connections and had become extremely careful about befriending new people. Those who were less lucky or didn’t have a financial adviser – went broke by spending all the money on random people.

Relationships fail

One financial advisor who used to help a family who won a jackpot has firsthand experienced a situation where the family simply could not handle it. The husband was not prepared for pressure and responsibility attached to a fat sum of money, so he found himself gambling and womanizing. After his wife found out about it, she got into vindictive shopping. This story has a semi-happy ending since after consulting a specialist, this family got back together, but it goes without saying that they never were the same. 

Bankruptcy becomes a real risk

Even though it seems unreasonable, many people forget about the importance of planning and putting money away as soon as wealth lends on their hands. Experts say that lottery winners are even at greater risk of bankruptcy than regular people.

All of a sudden, people have more credit available than they have ever seen. And they tend to buy more stuff on credit rather than cash. Impulse purchases are another thing dragging winners down. Think about it, if you have $100 left on your bank account, imaginary $100,000 or $150,000 sound pretty much the same. That’s why your shopping goes out of hand when you have what seems to you endless figures on your account. 

You become a target of scams and lawsuits

Often winnings are public knowledge. And if it is so, your phone never stops ringing. Some of those are investors and money-hungry relatives, but the rest – those who would try to carve out a chunk of your money under a false pretense. You’d be surprised what people can come up with, starting with “accidentally falling” on your property, ending up with sexual harassment accusations from people you can barely recognize.

All of those things got us thinking, maybe winning money doesn’t worth it after all? However, if you were lucky enough, don’t fall into one of the above-mentioned situations. It’s always better to just relax, check the live score of your favorite football teams on Buaksib and clear your mind from all that might bother you. And if you live in a country where the Internet is regulated, be sure to pick and use one of the VPNs listed on vpnbusters.

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